Middle East

The Middle East is currently newsworthy due to the ongoing US-Israel war on Iran, which began around late February 2026. This conflict is causing significant disruptions across various sectors. Geopolitically, it's affecting international relations, with countries like South Korea facing pressure to contribute to security efforts in the Strait of Hormuz. Economically, the war has triggered an oil shock, leading to stock market declines in fuel-import-dependent nations like South Korea and Japan. South Africa's fruit exports are facing delays, threatening a significant market. Sri Lanka is implementing a four-day work week to conserve dwindling fuel reserves. Travel is severely impacted, with Hong Kong travel agencies suspending tours and Qatar Airways announcing limited flights to and from Doha. Despite the unrest, Hong Kong aims to expand business ties in the region. The conflict has shattered the image of peace and luxury in Gulf states, raising concerns about regional stability.