Shibbir Ahmed, NEW YORK — Iran-aligned Houthi forces have seized the strategic Mayun Island at the southern entrance to the Red Sea, tightening their grip around the Bab el-Mandeb Strait and raising fresh concerns over global shipping and energy supplies.

The Houthis also took control of Yemen’s Red Sea port city of Mokha on Thursday and have advanced along the coast toward strategic islands, according to Reuters and the Associated Press. The developments represent the group’s most significant territorial gains since a 2022 truce largely halted Yemen’s civil war.

Mayun Island, also known as Perim, sits in the Bab el-Mandeb Strait, a critical maritime chokepoint connecting the Red Sea with the Gulf of Aden. About 12% of global goods normally pass through the waterway, making any prolonged disruption a potential threat to international trade.

The latest Houthi advance comes as shipping through the nearby Strait of Hormuz has already been severely disrupted by the wider Middle East conflict. Saudi Arabia has increasingly relied on the Red Sea route to move oil after traffic through Hormuz became heavily restricted.

The potential loss of secure access to both major maritime corridors has heightened concerns among energy traders and shipping companies. Reuters reported that Saudi crude production fell to about 6 million barrels per day in August, its lowest level in more than three decades, partly because of disruptions linked to attacks on shipping around the Bab el-Mandeb.

Oil markets have responded sharply to the growing risks. Brent crude rose above $100 a barrel this week, while U.S. West Texas Intermediate crude also crossed the $100 threshold as traders assessed the possibility of further supply disruptions.

Saudi Arabia has responded to the Houthi advance with military action. A Houthi-controlled broadcaster reported that Saudi forces carried out airstrikes on the airport in Mokha after the port city fell to the group. There were no immediate reports of casualties or significant damage.

The escalation has also raised fears of a renewed wider conflict inside Yemen. More than 46,000 people have fled their homes since the latest fighting began, according to the U.N. migration agency, while Yemen’s internationally recognized government has indicated that it intends to launch a counteroffensive to recover territory captured by the Houthis.

For international shipping, the main concern is whether the Houthis will use their new positions to further restrict commercial traffic through the Bab el-Mandeb. Shipping through the waterway had already fallen substantially after Houthi attacks on commercial vessels beginning in late 2023, prompting many shipping companies to reroute vessels around Africa.

With both the Bab el-Mandeb and Strait of Hormuz facing serious security challenges, businesses are preparing for potentially higher transportation and energy costs. Any prolonged disruption could affect oil prices, shipping rates and the movement of goods between Asia, the Middle East and Europe.

The latest developments have therefore transformed the Houthi advance from a regional military development into a growing concern for global trade and energy markets.

Shibbir Ahmed, New York — Oil prices remained above $100 a barrel on Friday, putting both major benchmarks on track for their strongest weekly gains in months as escalating violence in the Middle East disrupted key shipping routes and heightened concerns over global supplies.

Brent crude futures rose earlier in the session to above $108 a barrel before giving back some of those gains. U.S. West Texas Intermediate crude also traded above $100, after both benchmarks jumped more than 6% on Thursday.

Brent was last trading around $104 a barrel, while WTI fell below the $100 mark later in the session. Despite the pullback, both contracts remained sharply higher for the week. Reuters reported that Brent and WTI were on track for weekly gains of more than 8%.

The latest price moves have been driven largely by growing risks to oil shipments through the Strait of Hormuz and the Red Sea, two critical routes for global energy supplies. Increased attacks on tankers and other shipping have raised concerns that disruptions could persist.

Iran-aligned Houthi forces also seized Yemen’s port of Mocha, according to reports, adding to concerns about shipping through the Bab al-Mandeb Strait and the wider Red Sea region. At the same time, traffic through the Strait of Hormuz remains heavily restricted.

The Strait of Hormuz is one of the world’s most important oil transit routes. Oil flows through the waterway have fallen sharply from levels seen before the latest escalation in fighting, putting additional pressure on already tight global supplies.

Supply concerns have also been reinforced by disruptions to energy infrastructure in the region. Reuters reported that Saudi Arabia’s crude production fell to about 6 million barrels per day in August, its lowest level in roughly three decades, following attacks on energy facilities.

The disruption is also being felt in fuel markets. U.S. diesel prices have climbed to record levels, increasing costs for transportation, agriculture and other industries. Higher energy prices are also raising concerns about renewed inflationary pressure around the world.

Oil prices had already risen sharply in recent weeks as the conflict involving the United States and Iran intensified. Brent crude crossed the $100 threshold on Wednesday for the first time since July, and Thursday’s rally pushed both Brent and WTI above $100.

Markets remain focused on whether diplomatic efforts can restore safe passage through key shipping routes. Any sustained improvement in shipping conditions could ease some of the recent price pressure, while further attacks or prolonged restrictions could keep oil prices elevated.

For now, traders remain cautious as the conflict continues to threaten one of the world’s most important energy supply corridors.

NEW YORK: Saima Wazed has resigned as the World Health Organization’s (WHO) Regional Director for South-East Asia. According to her resignation letter seen by Reuters, she stepped down amid investigations by the WHO and Bangladeshi authorities into allegations of fraud and document forgery. Her resignation took effect immediately.

Wazed assumed the position of WHO Regional Director for South-East Asia in early 2024 for a five-year term. However, she had been on unpaid administrative leave since July 2025. Earlier, in March 2025, Bangladesh’s Anti-Corruption Commission filed a case against her over allegations of fraud and forgery.

According to the Reuters report, allegations against Wazed included financial irregularities related to a trip to China, providing inaccurate information concerning her educational qualifications, and the alleged illegal acquisition of land in Bangladesh. Wazed has denied the allegations.

A July 3, 2026 letter from her lawyers, seen by Reuters, said the allegation concerning expenses from her China trip did not involve travel fraud. Instead, they said an assistant had made an administrative error while processing the repayment of routine expenses. The amount involved was $901.

Responding to questions about her educational qualifications, Wazed said she had received an honorary doctorate in recognition of her work on autism in Bangladesh and had informed WHO Director-General Tedros Adhanom Ghebreyesus about it.

Regarding the land allegations, Wazed said in her resignation letter that she had acquired the property before joining the WHO. She also said she was entitled to the land under a Bangladeshi law applicable to members of the family of Bangladesh’s founding leader, Sheikh Mujibur Rahman.

In her resignation letter, Wazed further alleged that she had been prevented from effectively carrying out her responsibilities. She said the situation had destroyed her trust and confidence in the WHO leadership. She also said nearly a year without a salary had made her financial situation unsustainable.

The WHO told Reuters that a committee had recommended removing Wazed from her position one day before her resignation. The organization said her resignation would now be considered by the Regional Committee and the Executive Board. A WHO spokesperson said the process had been handled with fairness and appropriate procedures while protecting the organization’s interests and ability to fulfill its responsibilities.

The WHO is preparing to begin the process of selecting Wazed’s successor. Two Reuters sources said nominations are expected to be announced on October 12, applications are expected to be reviewed in December, and the election is planned for January 24. Until a new Regional Director is elected, Dr. Nilesh Buddh will serve in the role.

The Regional Director for WHO’s South-East Asia Region is one of the organization’s key leadership positions. The position involves overseeing the WHO’s response to disease outbreaks and emergencies and helping implement the organization’s policies in accordance with regional circumstances. Member states elect the Regional Director every five years. Bangladesh and India are among the countries in the region.

DHAKA: The High Court has paved the way for Grameen Kalyan to pay Tk 666.91 crore in taxes to the National Board of Revenue (NBR), dismissing two rules that had earlier been issued in connection with the tax dispute. A High Court Division bench comprising Justice Md Mozibur Rahman Miah and Justice Rezaul Karim pronounced the judgment after hearing the petitions.

Senior Advocate Abdullah Al Mamun appeared for Grameen Kalyan, while Deputy Attorney General Abdus Samad Azad represented the state. According to the state lawyer, following Thursday’s judgment, Grameen Kalyan will have to pay a total of Tk 666.91 crore to the NBR for the tax years from 2012 to 2017. The dispute concerns tax assessments made by the NBR for those years. Grameen Kalyan had challenged the tax demands before the High Court.

The case had previously gone through another round of proceedings. In August 2024, an earlier High Court bench had rejected Grameen Kalyan’s petitions, effectively allowing the NBR to recover the disputed taxes.

However, that judgment was subsequently withdrawn after concerns arose over a possible conflict of interest involving one of the judges, who had previously appeared as a lawyer for the government in the same matter. The case was then sent for a fresh hearing. Following the renewed hearing, the newly constituted High Court bench dismissed the two rules, resulting in the latest ruling in favour of the NBR’s tax claim.

Grameen Kalyan is a non-profit social business organisation founded by Nobel laureate economist Dr Muhammad Yunus. The latest judgment clears a major legal hurdle to the recovery of the disputed tax amount for the 2012–2017 tax years. It was not immediately clear whether Grameen Kalyan would challenge the judgment before the Appellate Division.

Shibbir Ahmed, NEW YORK: Mastercard and the International Finance Corporation (IFC), a member of the World Bank Group, have launched a $500 million global risk facility aimed at expanding digital financial access in emerging markets.

Announced on September 9, the initiative is designed to help banks, fintech companies and other financial institutions in emerging markets participate more easily in international payment networks. The program will initially focus on emerging markets in Europe and Latin America.

The initiative seeks to reduce financial and risk-related barriers that can prevent local financial institutions from expanding digital payment services. By helping institutions manage international payment-related exposure, the facility is expected to support broader access to secure and modern financial services.

According to the World Bank Group, many banks and fintech companies in emerging markets face difficulties meeting the financial requirements needed to participate in global payment systems. These barriers can leave millions of consumers and small businesses dependent on cash and excluded from the digital economy. The initiative aims to help address that gap by expanding access to digital payments for consumers and businesses, including small enterprises and underserved communities.

According to IFC, the program could support a significant expansion of digital payment activity through participating financial institutions. The initiative is expected to potentially enable around $280 billion in additional digital payment volume, facilitate the issuance of approximately 360 million new cards and bring about 90 million new active users into digital payment systems.

Women are expected to account for a significant share of the new users, with approximately 39 million women potentially gaining access through the initiative. IFC Managing Director Makhtar Diop said expanding digital payments in emerging markets can help create economic opportunities and bring more people and businesses into the formal financial system.

Mastercard said the initiative is intended not only to increase access to financial services but also to strengthen security, trust and resilience across digital payment ecosystems. The program reflects growing efforts to expand financial inclusion in emerging markets, where digital payments are increasing but access to international payment infrastructure remains uneven. By reducing barriers for local financial institutions, Mastercard and IFC aim to help more consumers and businesses participate in the formal digital economy.

Shibbir Ahmed, NEW YORK — Oil prices climbed above $100 a barrel on Wednesday as escalating tensions between the United States and Iran raised fresh concerns about disruptions to global energy supplies and shipping through the strategically vital Strait of Hormuz.

Brent crude, the international benchmark, rose above the $100 mark as investors reacted to the widening confrontation in the Middle East. The surge reflects growing fears that continued military escalation could threaten oil flows through the Strait of Hormuz, a critical route for global energy shipments.

The latest increase came amid heightened tensions following U.S. military action involving Iranian oil tankers and Iran’s subsequent missile attacks toward a U.S.-used military facility in Jordan.

The Strait of Hormuz has become a central focus of the crisis. A prolonged disruption in the waterway could have significant consequences for global oil markets because a substantial share of the world’s petroleum shipments passes through the narrow strategic corridor.

Higher crude prices are also raising concerns about renewed inflationary pressure. A sustained increase in energy costs could push up prices for gasoline, transportation and other goods, potentially complicating efforts by central banks to control inflation.

Financial markets have responded cautiously to the escalation. Investors are closely watching developments between Washington and Tehran for signs that the conflict could expand further or threaten critical energy infrastructure and shipping routes. The rise above $100 a barrel represents a major psychological threshold for global energy markets and underscores the economic risks posed by the widening U.S.-Iran confrontation.

Analysts say oil prices could remain volatile as long as uncertainty persists over the security of shipping through the Strait of Hormuz and the possibility of further military escalation in the region.

VIENNA— The International Atomic Energy Agency’s Board of Governors on Wednesday referred Iran to the United Nations Security Council for the first time in 20 years, citing Tehran’s failure to cooperate with a long-running investigation into uranium traces discovered at undeclared sites.

The resolution, introduced by the United States, Britain, France and Germany, was approved by the 35-member IAEA Board of Governors with 23 votes in favor. China, Russia and Niger voted against it, while eight countries abstained and one country did not vote.

The decision marks a significant escalation in international pressure on Iran over its nuclear activities. The IAEA has been unable to fully verify Iran’s nuclear material and activities at several sites, particularly following U.S. and Israeli strikes on Iranian nuclear facilities.

Western governments have expressed concern that uranium traces found at previously undeclared locations could indicate that Iran conducted undisclosed nuclear activities in the past. Iran has repeatedly denied seeking nuclear weapons and maintains that its nuclear program is intended for peaceful purposes.

The referral to the Security Council could expose Iran to renewed international pressure, including possible sanctions. However, immediate punitive action by the council is considered difficult because Russia and China, both permanent members of the Security Council, have veto power and have opposed the measure.

Iran strongly rejected the IAEA resolution. Iran’s representative to the agency, Reza Najafi, described the decision as politically motivated and accused the IAEA of undermining its own independence and credibility. Iran has also argued that continuing military operations and attacks on its nuclear facilities have made it impossible for international inspectors to safely access some sites.

The IAEA estimates that Iran had approximately 440.9 kilograms of uranium enriched to 60% purity before the attacks on its nuclear facilities. Uranium enriched to that level is below weapons-grade material, which is generally considered to be about 90%, but is technically much closer to weapons-grade enrichment than the level required for civilian nuclear power.

IAEA officials have stressed that the size of Iran’s enriched-uranium stockpile does not by itself establish that Tehran possesses or is developing a nuclear weapon. The Security Council referral comes amid a broader escalation in tensions between Iran and the United States and Israel, adding a major diplomatic dimension to the ongoing conflict and increasing international scrutiny of Iran’s nuclear program.

Shibbir Ahmed, Washington DC: President Donald Trump has ordered new restrictions blocking the import of certain Canadian products into the United States, escalating the growing trade dispute between Washington and Ottawa.

Under proclamations issued on September 8, 2026, the United States will prohibit imports of specified Canadian dairy products, alcoholic beverages and motor vehicles, with the new restrictions taking effect September 29. The White House said the measures are intended to respond to what it describes as continued Canadian discrimination against U.S. commerce.

The move comes as Canada has imposed retaliatory tariffs on about $20 billion worth of U.S. goods, with duties ranging from 15% to 50%. The measures mark another major escalation in the trade dispute between the two longtime allies.

The latest U.S. action goes beyond tariffs by completely excluding certain Canadian products from the U.S. market. The White House says that if any part of the import ban is invalidated, the previously imposed 50% tariff would apply instead to the affected products.

The dispute has also widened beyond tariffs. Trump has threatened additional action against Canadian companies, including aircraft manufacturer Bombardier, while Canada has signaled that it intends to diversify its trade relationships and reduce its dependence on the U.S. market.

The escalating measures are raising concerns about the future of the United States-Mexico-Canada Agreement (USMCA) and the economic relationship between the two countries.

Shibbir Ahmed, UN, New York: United Nations Secretary-General António Guterres has called for an immediate cessation of hostilities in southern Lebanon and urged Israel to withdraw its forces from Lebanese territory as Israeli military operations intensify in and around Nabatieh.

In a statement issued on Tuesday by his spokesperson, Stéphane Dujarric, Guterres said he was deeply concerned about the escalating Israeli military operations and condemned the mounting civilian casualties, including women and children killed and injured in the attacks. The UN chief also expressed alarm over the displacement caused by evacuation orders and the widespread destruction reported across Nabatieh District.

According to the UN humanitarian affairs office, OCHA, around 5,000 families, or approximately 20,000 people, fled Nabatieh District last week. Healthcare services in the area are also facing increasing pressure as the conflict intensifies. Guterres was particularly concerned by reports of Israeli strikes affecting hospitals, healthcare workers and public institutions, as well as restrictions on humanitarian access.

He stressed that all parties must comply with their obligations under international law, including international humanitarian law, and emphasized that civilians and civilian infrastructure must be protected at all times.

“Civilians and civilian objects must be protected at all times, and attacks directed against them are unacceptable,” the UN chief said. Guterres called for an immediate end to the hostilities, urged Israel to withdraw its forces from Lebanese territory and called on all sides to respect Lebanon’s sovereignty and territorial integrity. He also urged the parties to fulfil their obligations under UN Security Council Resolution 1701, adopted in 2006 to help establish a lasting cessation of hostilities between Israel and Hezbollah.

Meanwhile, the UN Interim Force in Lebanon, UNIFIL, reported a sharp increase in Israeli military activity between Thursday and Monday, including ground operations, projectile fire, airstrikes and violations of Lebanese airspace.

UNIFIL detected 528 projectiles fired by the Israel Defense Forces during that period. On Sunday alone, the peacekeeping mission recorded 62 Israeli airspace violations, among the highest daily totals since June. UNIFIL also reported airstrikes in both sectors of its area of operations and north of the Litani River. For the first time since June 21, the mission also detected one projectile fired by Hezbollah on Sunday.

The UN said the deteriorating security situation is further worsening humanitarian conditions in southern Lebanon. UNIFIL facilitated 13 humanitarian missions between Thursday and Monday in coordination with OCHA, all in its western sector. The Secretary-General said the United Nations remains committed to supporting efforts to end the violence, protect civilians and advance a lasting solution to the conflict.

Shibbir Ahmed, NEW YORK: Oil prices surged toward $100 a barrel on Tuesday as escalating violence in the Middle East raised fresh concerns about global energy supplies. Brent crude futures climbed as high as $99.46 a barrel, the highest level since July 24, before easing slightly. U.S. West Texas Intermediate crude also rose sharply, reaching $94.73 a barrel, its highest level since June 8.

The latest surge came after Iran-backed Houthi forces launched attacks on several southern Saudi Arabian cities and energy facilities. The attacks injured at least 73 people and sparked fires at Saudi energy sites, adding to concerns about disruptions to oil production and exports. At around 0956 GMT, Brent was trading at about $98.39 a barrel, up 1.43%, while WTI stood at approximately $93.73, up 2.46%, according to Reuters.

Growing supply concerns

Investors are increasingly concerned that continued attacks on energy infrastructure could further tighten global oil supplies. The situation is particularly sensitive because the conflict is unfolding across the Gulf region and around critical shipping routes. Any prolonged disruption to oil production or transportation could have consequences for fuel prices, inflation and economic growth worldwide. Iran has also threatened what it described as “economic warfare” against the United States, adding another layer of uncertainty to already volatile energy markets.

Markets under pressure

The rise in oil prices is also affecting global financial markets. Higher energy costs are raising concerns about inflation and increasing pressure on central banks as they assess interest-rate policy. U.S. stock futures were lower in early trading Tuesday, while Asian markets also faced pressure amid rising geopolitical tensions and higher energy costs.

Analysts are watching closely to see whether Brent can break above the $100-a-barrel threshold. Reuters reported that although supply disruptions are significant, alternative export routes, rising production outside OPEC and weaker demand are helping prevent prices from moving decisively above $100 for now.

For consumers and businesses, a sustained rise in crude prices could translate into higher gasoline, diesel, transportation and production costs in the weeks ahead. With fighting continuing and energy infrastructure increasingly caught in the conflict, global markets remain highly sensitive to developments across the Middle East.