FedEx suspends all pickups for shipments to Israel and Iraq
FedEx said on Friday all pickups for shipments destined to Israel and Iraq will be suspended.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Arun Koyyur)
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Maersk temporarily halts operations at Israel's Haifa port after Iran strikes
Danish shipping and logistics behemoth Maersk has temporarily halted operations at Israel's Haifa port, amid the country's escalating conflict with Iran. In a statement released on Friday, Maersk said it decided to suspend operations after 'careful analysis of threat risk reports in the context of the ongoing conflict between Israel and Iran, specifically regarding the potential risks of calling Israeli ports and the ensuing implications for the safety of our vessel crews'. Maersk said it was in close contact with customers "impacted by this decision and are working to provide alternative transport solutions to minimise disruption". The company said it was continuing to operate at Ashdod and that it had not experienced any other issues in its other operations in the region. Israel and Iran have been locked in conflict since Israel launched unprovoked air strikes against Iran on 13 June, in what is widely being seen as an attempt to derail an Iranian nuclear deal with the US and exercise regime change in Tehran. More than 639 people have been killed in Iran, with Israel hitting residential areas and hospitals, along with strikes on military sites. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters In Israel, the cities of Tel Aviv and Haifa have also incurred heavy damage following Iran's retaliatory missile strikes. Escalating tensions Mearsk has been under pressure from pro-Palestine activists to suspend all business ties with Israel, given its role in transporting weapons from the US to Israel for the war effort in Gaza. More than 55,000 Palestinians have been killed as a result of Israel's war on Gaza, which several countries, as well as many international rights groups and experts, now qualify as an act of genocide. Despite the efforts to push for Maersk to stop being involved in what critics call the "supply chain of death", the company has refused to halt operations with Israel. Maersk's decision to halt operations in Haifa came days after Bazan, Israel's largest oil refinery, stopped work in Haifa after it was hit by an Iranian-fired ballistic missile. Three workers were killed in the strike. Following escalating tensions, Maersk issued a statement on Monday, advising teams to work remotely as a precautionary measure. Haifa Port, Gautam Adani and Israel's plan for the Middle East Read More » However, Adani Ports and Special Economic Zone Ltd, which has a majority stake in Haifa Port, said operations were still moving smoothly despite the missile strike at the nearby oil refinery. Shrapnel from the missile strike was reportedly found at the port. Adani's purchase of the Haifa Port in 2023 is seen as integral to transforming it into a major international port, as part of the India-Middle East-Europe Economic Corridor (IMEC). IMEC aims to build a new trade passage from India to Europe, via the United Arab Emirates, Saudi Arabia, Jordan and Israel as a counter to China's Belt and Road Initiative. Haifa Port handles about 20 million tons of cargo annually, which makes it among the busiest ports in Israel. Adani Ports did not immediately reply to Middle East Eye's request for comment.
Zawya
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Saudi: New SAMA rules limit credit card fees: 3% cash withdrawal, 2% foreign purchases, free e-wallet top-ups
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Zawya
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Gross banks' assets up by 1.9% to $1285.1bln at end of March: CBUAE
The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from AED982.4 billion at the end of February 2025 to AED986.2 billion at the end of March 2025. The increase was due to AED5.1 billion growth in currency in circulation outside banks, overriding the AED1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from AED 2,360.3 billion at the end of February 2025 to AED2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and AED73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from AED2,811.7 billion at the end of February 2025 to AED2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and AED4.5 billion increase in government deposits. The monetary base increased by 2.0%, from AED816.6 billion at the end of February 2025 to AED833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from AED4,632.2 billion at the end of February 2025 to AED4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from AED2,204.3 billion at the end of February 2025 to AED2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by AED19.5 billion and foreign credit by AED16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from AED2,871.5 billion at the end of February 2025 to AED2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at AED2,687.8 billion and in non- resident deposits by 0.4%, reaching AED248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025.
