The rally gained strength following the re-election of Donald Trump as U.S. President. After the initial surge, Bitcoin hovered around the $100,000 level for several months, as market sentiment was dampened by uncertainties surrounding Trump’s economic policies — despite his administration’s pro-crypto stance. Now, with broader risk assets like equities also reaching record highs, Bitcoin has resumed its upward trend.

“This shift signals a maturing perspective on Bitcoin — not merely a speculative asset, but a macro hedge and a structurally scarce store of value,” said George Mandres, senior trader at XBTO Trading LLC. “A surge in risk-on sentiment across equities, coupled with significant institutional inflows into spot Bitcoin and Ethereum ETFs, has fueled this steady ascent, notably absent the sharp volatility of previous bull runs.”

Bitcoin rose as much as 1.9% to $121,344 and is now up roughly 30% since December. The world’s largest cryptocurrency more than doubled in value last year.

A key factor behind the recent rally was the forced liquidation of bearish crypto positions, with over $1 billion in short bets wiped out at the end of the week, according to data from Coinglass.

Investor excitement has also been bolstered by anticipation of “Crypto Week” in the U.S. Congress, where lawmakers are expected to debate and potentially vote on major cryptocurrency legislation.

Still, not all analysts are convinced the rally is sustainable. “In my view, this isn’t a macro-driven rally, but rather an isolated event,” said Nicolai Sondergaard, a research analyst at Nansen. “That said, recent U.S. policy developments such as fiscal expansion and expectations of further monetary easing have created a backdrop that is undeniably favorable for Bitcoin.”

—With assistance from Suvashree Ghosh.

The post Bitcoin Surges Past $120,000 Amid Growing Investor Optimism appeared first on The Gulf Indians.

Brent crude hovered near the $70 per barrel mark after ending Wednesday’s session largely unchanged, while West Texas Intermediate (WTI) held around $68.

According to official data, U.S. crude inventories rose by 7.1 million barrels last week, marking the largest weekly build since January. Stockpiles at the Cushing, Oklahoma storage hub also increased — the first such rise since May — signaling a potential easing of supply constraints.

Meanwhile, traders remain cautious as President Donald Trump intensifies his tariff policy, with Brazil the latest target of steep levies. The move follows earlier threats of tariffs on copper and measures against other countries, contributing to broader market volatility. The President’s protectionist stance and potential retaliatory actions by affected nations continue to unsettle global markets.

Despite these headwinds, oil remains slightly higher on the week, even after OPEC+ announced a larger-than-expected production increase for August. The oil producers’ group is banking on strong summer demand to absorb the additional output. However, analysts warn of a potential oversupply risk in the latter part of the year as seasonal consumption wanes.

Market participants are also monitoring developments in the Middle East, where Tehran-backed Houthi militants have escalated attacks on commercial vessels in the Red Sea, sinking two ships and killing multiple crew members. These incidents come amid a fragile truce following recent hostilities between Israel and Iran, raising concerns over regional stability.

“Despite a barrage of headlines, the market seems stuck in a holding pattern,” said Priyanka Sachdeva, Senior Market Analyst at Phillip Nova Pte in Singapore. “Unless there is a significant uptick in demand or a major supply disruption, crude prices are likely to continue moving sideways.”

The post Oil Prices Steady Amid U.S. Inventory Surge and Tariff Tensions appeared first on The Gulf Indians.

“Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Trump wrote in a post on Truth Social late Sunday.

The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—recently held its summit, where leaders discussed a cross-border payment system aimed at facilitating trade and investment between member countries. The initiative, under discussion for over a decade, has gained renewed momentum in the face of evolving global trade dynamics.

Among the key participants were Chinese Premier Li Qiang and Indian Prime Minister Narendra Modi.

Trump has in the past threatened to impose 100% tariffs on BRICS member states if they move away from using the U.S. dollar in bilateral trade agreements. Such rhetoric has reportedly encouraged BRICS nations to explore alternative payment systems and localized financial instruments to support intra-group commerce.

However, in his latest post, Trump did not clarify which specific BRICS policies he considers “Anti-American”, nor did he provide a timeline or implementation details for the proposed tariffs.

The statement comes at a time when U.S. trade policy and global economic alliances are undergoing significant shifts, with many nations exploring diversified trade partnerships and alternative financial frameworks.

The post Trump Threatens Additional 10% Tariff on Countries Supporting BRICS Policies appeared first on The Gulf Indians.

At Paris’ major airports—Charles de Gaulle, Orly, and Beauvais—40% of all flights were cancelled. Cancellations climbed to 50% in Nice, while 30% of flights were affected in Marseille, Lyon, and several other regional airports.

Despite these precautionary steps, authorities warned that “widespread disruptions and long delays” would continue across all airports in France.

Low-cost carrier Ryanair reported severe operational setbacks, cancelling over 400 flights and impacting more than 70,000 passengers. The airline strongly criticized the effect of the strike on flights over French airspace and to/from French destinations, urging the European Union to reform air traffic management rules to reduce such disruptions in the future.

The strike is being led by air traffic control unions, including UNSA-ICNA, which cited a lack of staffing to handle growing air traffic volumes and the erosion of wages due to inflation. Union representatives are also pushing back against proposed regulatory reforms that would modify oversight of air traffic operations.

As negotiations remain deadlocked, passengers are advised to check flight statuses and prepare for continued disruptions over the coming days.

The post French Airport Strike Grounds Hundreds of Flights, Disrupts Thousands of Travelers appeared first on The Gulf Indians.

Despite the rally in spot prices, U.S. gold futures edged down by 0.1%, settling at $3,337.90 per ounce, indicating some short-term market caution.

Among other precious metals:

• Silver slipped 0.3% to $36.73 per ounce
• Platinum rose 0.8% to $1,378.30
• Palladium saw a modest uptick of 0.1%, reaching $1,137.94

Analysts say that the combination of fiscal stimulus and inflationary expectations has strengthened demand for safe-haven assets like gold, with further gains likely if economic momentum continues.

The post Gold Prices Shine as U.S. Tax Bill Boosts Investor Confidence appeared first on The Gulf Indians.

The ship received an enthusiastic welcome from His Excellency Ahmed bin Mohammed Al Araimi, Oman’s Ambassador to France; Colonel Engineer Khalid bin Sulaiman Al Farsi, Military Attaché; members of the diplomatic community; representatives from the Le Havre Sailing Festival Organizing Committee, and a large turnout of locals and sailing enthusiasts.

From June 4 to 7, Shabab Oman II and its crew will participate in the Le Havre Sailing Festival, engaging in a wide array of cultural and sporting events. Highlights include:

• An official reception attended by diplomats, city officials, and government delegates
• A colorful street parade
• Sports competitions and marine activities along the Le Havre coast
• Open deck tours, inviting the public to explore the ship and learn about Oman’s seafaring history

This stop emphasizes the Sultanate of Oman’s commitment to cultural diplomacy and global outreach, using maritime tradition as a platform for international friendship and cooperation.

European Voyage Highlights

The 2025 voyage will take Shabab Oman II to 30 ports in 15 countries, including participation in the prestigious International Tall Ships Race, starting from Le Havre. Key destinations include:

• Dunkirk, France
• Abden, Scotland
• Kristiansand, Norway
• Esbjerg, Denmark (final destination)

Additionally, the ship will take part in two major European sailing festivals:

• Bremerhaven Sailing Festival, Germany
• Amsterdam Sailing Festival, Netherlands

This extensive journey showcases Oman’s active role in strengthening international cultural ties, while proudly highlighting the nation’s historic maritime legacy.

The post Shabab Oman II Docks in France, Embarks on European Voyage to Promote Oman’s Maritime Legacy appeared first on The Gulf Indians.

The launch aligns with the 40th anniversary of diplomatic relations between the Sultanate of Oman and the Russian Federation, highlighting the commitment of both nations to deepen cultural and educational ties.

The Omani Publications Corner is designed to support non-Arabic-speaking students pursuing Omani studies by providing access to Oman’s rich civilizational and intellectual legacy. The initiative aims to enhance mutual understanding and promote academic and research exchanges.

The collection at the corner includes a wide array of books and publications covering literature, language, history, science, media, arts, Islamic studies, geography, and environmental topics.

In parallel, the National Museum’s Learning Center organized a cultural program for 180 students from schools in Muscat Governorate. The program introduced Omani students to Russian literature through curated literary and artistic works, offering them a glimpse into the richness of Russian language and culture and expanding their global cultural awareness.

The post Oman Inaugurates Publications Corner at Chechen State Pedagogical University to Mark 40 Years of Diplomatic Ties with Russia appeared first on The Gulf Indians.

The award celebrates the success of LuLu Retail’s landmark Initial Public Offering (IPO), which raised USD 1.7 billion in the fourth quarter of 2024. The IPO led to the company’s official listing on the Abu Dhabi Securities Exchange (ADX) and was one of the most anticipated public offerings in the region. It drew overwhelming interest from investors and reaffirmed strong market confidence in the Group’s financial stability, growth potential, and leadership in the retail sector.

The EMEA Finance Achievement Awards are considered a benchmark for excellence in capital markets across Europe, the Middle East, and Africa. Winners are chosen by the magazine’s editorial board from a competitive pool of nominations submitted by investment banks, corporates, and market professionals. The awards highlight the most impactful and innovative financial transactions, including IPOs, debt issuances, structured finance, Islamic finance, and M&A deals.

Saifee Rupawala, CEO of LuLu Retail Holdings, expressed his gratitude, saying:

“We are truly honoured to receive this award, which reflects the strength of our business, the dedication of our team, and the confidence shown by our investors. The IPO was a transformative milestone for LuLu Retail, and we remain committed to creating long-term value and sustainable growth.”

The post LuLu Retail Bags “Best IPO in the Middle East” Award at EMEA Finance Achievement Awards 2024 appeared first on The Gulf Indians.

According to the announcement, the new measures apply to foreign government officials and other individuals found to be supporting or enabling irregular migration and human smuggling networks.

“The United States will not tolerate those who facilitate illegal and mass immigration,” the statement read, citing previous actions under the Trump Administration, which had designated several smuggling cartels as Foreign Terrorist Organizations (FTOs).

Potential Consequences for Non-Cooperative Countries

The Embassy also warned that countries that fail to cooperate with repatriation efforts for their nationals residing illegally in the United States may face serious diplomatic consequences. These include:

• Restrictions on visa issuance
• Tighter entry limitations for citizens of non-compliant countries
• Potential diplomatic strain on bilateral relations

The announcement underscores Washington’s heightened vigilance on border security and migration control, with a renewed emphasis on international accountability.

The post U.S. Embassy in India Issues Strong Advisory Against Unlawful Immigration Practices appeared first on The Gulf Indians.

The announcement, confirmed by the state-run IRNA news agency, stated that all flight operations at Iranian airports have been suspended as a precautionary measure to ensure the safety of passengers and crew.

The move comes amid heightened hostilities in the region, with authorities emphasizing that the decision is temporary and subject to ongoing security assessments.

The post Iran Closes Airspace Amid Rising Tensions with Israel appeared first on The Gulf Indians.

“President Vladimir Putin emphasized that Russia condemns Israel’s actions, which violate the principles of the UN Charter and international law,” the Kremlin stated.

Putin also conveyed to Netanyahu Russia’s readiness to mediate in order to help de-escalate tensions and avoid further deterioration of regional stability.

The Kremlin expressed deep concern over the implications of the attacks, warning that the current situation poses grave risks for the entire Middle East region.

Russia Decries ‘Unprovoked Military Strikes’

Earlier in the day, Russia’s Foreign Ministry issued a separate statement condemning the Israeli airstrikes, which targeted multiple sites in Iran.

“Unprovoked military strikes against a sovereign UN member state, its citizens, peaceful cities, and nuclear energy infrastructure are categorically unacceptable,” the ministry said, describing the attacks as “atrocities.”

The statement underlined that Moscow considers these actions particularly dangerous, especially given the ongoing nuclear negotiations between Washington and Tehran.

Support for Iran’s Nuclear Rights

Russia reaffirmed its support for Iran’s right to pursue a peaceful nuclear energy programme, criticizing the timing of the Israeli strikes as “especially cynical” in the context of current diplomatic discussions.

Moscow reiterated its long-standing position that the Iranian nuclear issue should be resolved through diplomacy, urging all parties involved to exercise restraint and avoid actions that could lead to wider conflict.

Delicate Balancing Act

While Russia has maintained a close strategic alliance with Iran, it has also preserved working relations with Israel, particularly in the context of military coordination in Syria. However, recent developments—including Russia’s criticism of Israel’s actions in Gaza—signal increasing tensions between Moscow and Tel Aviv.

As the regional crisis unfolds, Russia is positioning itself as a potential diplomatic broker, calling for dialogue and a peaceful resolution to avoid a broader confrontation.

The post Putin Condemns Israeli Strikes on Iran, Offers Mediation to Prevent Escalation appeared first on The Gulf Indians.

The dual impact of higher expected oil import costs and negative sentiment around the Tata Group, which owns Air India, dominated early trade.

Tata Group Under Pressure

Shares of several Tata Group-listed entities saw declines following the crash of an Air India Boeing Dreamliner shortly after takeoff from Ahmedabad airport on June 12. While tragic, analysts suggest the dip in Tata Group stocks is broadly in line with wider market movements rather than a company-specific selloff.

“All Tata Group stocks are down, but they are not experiencing incident-specific drawdowns,” said Milan Vaishnav, founder of ChartWizard.ae. “They are reacting more to overall market sentiment than the Air India event alone.”

Oil Price Concerns Take Center Stage

With oil prices surging over 6% globally following Israel’s airstrikes on Iran, investors are growing increasingly concerned about the impact on India’s energy import bill, given the country’s heavy reliance on foreign crude.

“Oil marketing companies are trading lower,” Vaishnav noted. “Rising input costs and geopolitical risks are weighing on the sector.”

Market Resilience Emerging

Despite the initial plunge, domestic indices have shown signs of recovery.

The Nifty 50, which dropped significantly at the open, bounced back more than 150 points, staying within the key trading range of 24,500 to 25,100, established over the past month.

“Indian equities opened down but are showing much stronger relative performance compared to global peers,” Vaishnav added. “The resilience is noteworthy given the magnitude of global market weakness.”

Volatility and Sector Rotation

Market volatility surged early in the session, with the India VIX spiking 15% at the open. However, it eased to around an 8% gain later in the morning.

Meanwhile, investors rotated funds into defensive sectors such as:

• Pharma
• Information Technology
• Upstream energy stocks

“We’re seeing a flight to safety in quality defensive names as uncertainty looms globally,” said Vaishnav.

The evolving geopolitical situation in the Middle East, combined with a tragic aviation incident at home, has cast a shadow over India’s financial markets. However, early signs of resilience and sectoral shifts suggest that investors remain cautiously optimistic in the face of rising global risk.

The post Indian Markets Slide 700+ Points as Oil Worries, Air India Crash Shake Sentiment appeared first on The Gulf Indians.

The Israeli operation — described by Prime Minister Benjamin Netanyahu as ongoing and open-ended — marked a significant escalation in Middle East tensions, prompting a flight to safe-haven assets by investors worldwide.

Market Reactions:

• Crude Oil:
  West Texas Intermediate (WTI) surged as much as 9.3%, trading at $73.39 a barrel, erasing year-to-date losses. Oil is now on track for its largest weekly gain since 2022, supported by both geopolitical risk and recent OPEC+ decisions to ramp up output.
• Stocks:
  Futures for U.S. equities dropped around 1.5%, while Asian stocks fell 0.4%. The volatility reflects investor concerns about the regional conflict spilling over into broader global markets.
• Safe Havens:
  • Gold rose more than 1%,
  • U.S. Treasuries gained, with the 10-year yield falling by three basis points to 4.33%,
  • The Japanese yen strengthened 0.2% to 143.16 per dollar,
  • Cryptocurrencies, including Bitcoin and Ether, declined amid the risk-off sentiment.
• U.S. Dollar:
  After an initial drop, the U.S. dollar index rebounded 0.2%, recovering from a three-year low.

Geopolitical Impact

The Israeli Defense Forces (IDF) said the “preemptive strike” was necessary to neutralize a growing threat from Iran’s nuclear enrichment program, which according to Israeli intelligence is nearing military-grade capabilities.

Israeli Defense Minister Israel Katz declared a state of emergency, citing the risk of imminent missile and drone attacks from Iran.

Earlier, Iran announced the upcoming inauguration of a new uranium-enrichment facility, defying international warnings and drawing criticism from the UN’s atomic watchdog.

The attack came just ahead of a planned sixth round of U.S.-Iran nuclear talks in Oman, raising doubts over whether diplomacy can still prevail. Former U.S. President Donald Trump, who is actively engaged in foreign policy consultations, voiced skepticism earlier this week about the chances of reaching a deal.

“This move is poised to echo through global markets—not just as a geopolitical flashpoint, but as a wake-up call to the mounting threat of multi-front tensions,” said Hebe Chen, analyst at Vantage Markets, Melbourne.

Charu Chanana, Chief Investment Strategist at Saxo Markets, added:
“Headlines of an Israeli airstrike inside Iran have reignited the geopolitical-risk premium. Any indication of retaliation or supply chain disruptions will fuel market volatility, keeping oil and safe-haven assets elevated.”

U.S. Response

U.S. Secretary of State Marco Rubio clarified that the United States was not involved in the airstrikes, stating that Israel acted unilaterally in its military response.

Meanwhile, Bloomberg macro strategist Mark Cudmore noted that the U.S., as the world’s top oil producer, might see a short-term dollar rebound due to market positioning and stop-loss triggers, potentially creating a self-sustaining rally for the greenback.

Wider Conflict Risk

The strikes on Iran add a dangerous new dimension to an already volatile region. Israel continues its prolonged military campaign in Gaza, now in its 20th month, aimed at dismantling Hamas, following the militant group’s October 7, 2023 attack.

The possibility of a multi-front conflict involving Iran, Hezbollah in Lebanon, and Houthi militias in Yemen, has increased risk premiums across global markets and is likely to dominate headlines and market behavior in the days to come.

The post Israel Strikes Iran: Global Markets Rattle, Oil Prices Surge Over 6% appeared first on The Gulf Indians.

In an official update on social media platform X, the airline said:

“Due to the emerging situation in Iran, the subsequent closure of its airspace, and in view of the safety of our passengers, the following Air India flights are either being diverted or returning to their origin.”

Diverted and Returned Flights:

• AI130 (London Heathrow → Mumbai): Diverted to Vienna
• AI102 (New York → Delhi): Diverted to Sharjah
• AI116 (New York → Mumbai): Diverted to Jeddah
• AI2018 (London Heathrow → Delhi): Diverted to Mumbai
• AI129 (Mumbai → London Heathrow): Returned to Mumbai
• AI119 (Mumbai → New York): Returned to Mumbai
• AI103 (Delhi → Washington): Returned to Delhi
• AI106 (Newark → Delhi): Diverting to Vienna
• AI188 (Vancouver → Delhi): Diverting to Jeddah
• AI101 (Delhi → New York): Diverting to Frankfurt/Milan
• AI126 (Chicago → Delhi): Diverting to Jeddah
• AI132 (London Heathrow → Bengaluru): Diverted to Sharjah
• AI2016 (London Heathrow → Delhi): Diverted to Vienna
• AI104 (Washington → Delhi): Diverted to Vienna
• AI190 (Toronto → Delhi): Diverted to Frankfurt
• AI189 (Delhi → Toronto): Returned to Delhi

Air India expressed regret over the inconvenience caused and assured passengers that alternative arrangements, including accommodation, rescheduling, and refunds, are being provided.

“We regret the inconvenience caused due to this unforeseen disruption and are doing our best to minimise its impact. Passengers are advised to check their flight status before travelling,” the statement added.

Background: Escalation in Israel-Iran Conflict

The diversions come amid heightened regional tensions after Israel launched a preemptive aerial campaign against Iran, targeting dozens of facilities linked to its nuclear program and military infrastructure in an operation reportedly named “Nation of Lions.”

According to The Times of Israel, Israeli Defence Minister Yoav Gallant declared a nationwide state of emergency, citing the imminent threat of a large-scale missile and drone attack by Iran.

“A missile and drone attack against Israel and its civilian population is expected imminently,” said Gallant, urging the public to follow Home Front Command instructions and remain in protected shelters.

The Israel Defense Forces (IDF) emphasized the urgency of the strikes, claiming Iran possesses enough enriched uranium to construct multiple nuclear weapons within days. The IDF characterized the strikes as essential to neutralize a “clear and present danger.”

As air raid sirens blared across Israeli cities, Prime Minister Benjamin Netanyahu convened an emergency session of the security cabinet to assess national readiness.

This incident underscores the fragile state of Middle Eastern security and has triggered significant disruption across international aviation routes, with implications for global air traffic and fuel prices.

The post Air India Diverts Multiple Flights Amid Iran Airspace Closure Following Israeli Strikes appeared first on The Gulf Indians.

Nuclear Threat ‘Approaching Point of No Return’

In a stark warning, the Israel Defense Forces (IDF) stated that intelligence has revealed Iran is nearing a critical threshold in its nuclear program.

“The convergence of Iran’s enrichment of thousands of kilograms of uranium and the development of fortified underground facilities enables the regime to enrich uranium to military-grade levels within a short time,” said the IDF statement.

IAEA: No Radiation Spike Detected

Despite the heavy bombardment, the International Atomic Energy Agency (IAEA) reported no increase in radiation levels at Iran’s Natanz nuclear site, easing immediate fears of a nuclear disaster.

Global Ripple Effects: Flights, Oil, and Diplomacy

Air India Diverts Flights Amid Airspace Closure

As tensions intensified, Air India announced the diversion or return of several international flights due to the closure of Iranian airspace, citing passenger safety concerns.

Oil Prices Surge, Global Markets Dip

Oil prices surged by over 12%, while global stock markets suffered a sharp downturn, reflecting investors’ anxiety over a potential regional war.

International Reactions: Condemnations and Condolences

Trump: ‘Iran Cannot Have a Nuclear Bomb’

Former U.S. President Donald Trump stated in an interview with Fox News that the U.S. had prior knowledge of Israel’s strikes and reaffirmed opposition to Iran obtaining nuclear weapons.

“Iran cannot have a nuclear bomb. We still hope to return to the negotiating table,” Trump said.

Saudi Arabia and Oman Condemn Israeli Strikes

Saudi Arabia strongly condemned the “blatant Israeli aggressions” against Iran, while Oman labeled the attack a “dangerous escalation” and urged the global community to promote diplomacy and avoid further conflict.

Casualties and Damage Reported

At least 50 people, including women and children, were injured in the Israeli strikes, according to Iranian state TV. However, Iran’s oil ministry confirmed that key refineries and fuel depots remained undamaged, with operations continuing normally.

Senior Iranian Commander Killed

Iranian media confirmed the death of General Hossein Salami, chief of the Islamic Revolutionary Guard Corps (IRGC), in Friday’s Israeli strikes. His death marks a significant loss for Iran’s leadership.

Nuclear Talks Still on Table?

Despite the hostilities, U.S. officials signaled willingness to continue nuclear talks with Iran on Sunday. The meetings, reportedly organized through Oman, could potentially include American negotiator Steve Witkoff.

Israel Declares Operation a ‘Success’

Israeli Prime Minister Benjamin Netanyahu described the initial wave of strikes as “very successful,” stating:

“This was just the beginning. We will continue the campaign for many days.”

Iran Issues Stern Warning

Supreme Leader Ayatollah Ali Khamenei responded defiantly, stating:

“The Zionist regime has committed a grave crime and will face a bitter and painful fate.”

This rapidly evolving crisis marks a dangerous inflection point in Middle Eastern geopolitics, with global leaders and institutions now racing to prevent an all-out war.

The post Tensions Soar: Israel-Iran Conflict Escalates With Drone Strikes, Nuclear Fears appeared first on The Gulf Indians.

Bitcoin plunged nearly 4% last Thursday, dipping to $100,500 and wiping out billions in market value within hours. Other major cryptocurrencies followed suit: Dogecoin dropped 10%, Ethereum declined over 7%, and the broader crypto market experienced a staggering $982 million in liquidations.

What Sparked the Turmoil?

The trigger was a heated exchange on social media. Trump criticized Musk’s government contracts, calling him “crazy,” while Musk retaliated by threatening to halt operations of SpaceX’s Dragon spacecraft—the only active US-built vehicle capable of ferrying astronauts to space.

As tensions between the two influential figures escalated, so did investor anxiety. Musk’s warning that Trump’s proposed tariff plans could lead to a recession rattled financial markets and triggered panic selling in crypto.

Bitcoin Holds the Line—Barely

“Bitcoin narrowly stayed above the $100,000 level as the online spat between Elon Musk and President Trump spilled over from traditional markets,” said Simon Peters, crypto analyst at eToro.

At one point, Bitcoin shed more than $5,000 in just a few hours before rebounding to $105,500, aided by rumors of reconciliation and stronger-than-expected US jobs data.

Dogecoin Takes a Heavy Hit

Dogecoin, once dubbed “the people’s crypto” by Musk, took a severe beating—dropping 22% over the week. The decline accelerated after Musk was reportedly removed from Trump’s federal downsizing committee, ironically nicknamed “DOGE.” The token, often buoyed by Musk’s public support, appeared adrift without his backing.

Wider Fallout in the Market

The ripple effects extended beyond the crypto sector. Tesla’s stock dropped 14%, Coinbase fell nearly 5%, and crypto mining firms like Riot and Marathon were also in the red. Meanwhile, stablecoin issuer Circle’s IPO excitement failed to lift sentiment, drawing comparisons to Coinbase’s IPO in 2021, which coincided with a market peak.

More Volatility Ahead

With key US inflation reports (CPI and PPI) due later this week, market participants are bracing for continued turbulence. Long-term holders are cashing out profits, while fresh uncertainties surrounding crypto regulation in a politically divided Washington add another layer of concern.

Bottom Line: Prepare for More Swings

When two of the world’s most influential figures engage in a public feud, markets don’t just observe—they react. In an age where a single tweet can shift trillions, crypto investors would be wise to monitor not just market charts but also the social media feeds that increasingly shape financial sentiment.

The post Trump vs. Musk: Online Feud Sends Shockwaves Through Crypto Markets appeared first on The Gulf Indians.

Afghanistan, Myanmar, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.

In addition to the full travel bans, the order also imposes partial restrictions on citizens from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela. While general travel from these nations is suspended, certain temporary work visas will still be permitted under specific conditions.

President Trump cited “persistent threats to national security” as the key driver behind the directive, referencing a recent makeshift flamethrower attack at a protest in Colorado, reportedly involving an undocumented immigrant, as a catalyst for urgent action.

Speaking during a “summer soiree” at the White House shortly before the order’s release, Trump described the move as a decisive step to safeguard the nation, drawing parallels to his 2017 travel ban which primarily affected several Muslim-majority countries. He asserted the measure would help avert the kind of violent incidents seen in parts of Europe.

Notably, the ban includes exceptions for international athletes participating in high-profile sporting events hosted in the U.S., such as the upcoming 2026 FIFA World Cup and the 2028 Summer Olympics in Los Angeles.

The rationale for the inclusion of specific countries varies. Iran was cited for its classification as a state sponsor of terrorism, while nations such as Libya, Somalia, and Yemen were flagged for lacking effective systems for identity verification and border management. Interestingly, Egypt was excluded from the ban.

In a separate development, President Trump also announced a visa restriction targeting newly admitted foreign students at Harvard University, continuing his administration’s criticism of what he has called “liberal academic institutions.“

The post President Trump Announces New U.S. Travel Ban on 12 Countries, Citing National Security Concerns appeared first on The Gulf Indians.

The meeting focused on strengthening bilateral relations between Oman and Malaysia, with both sides discussing ways to enhance cooperation across various sectors. They also exchanged views on key regional and international developments of mutual interest.

The session was attended by members of the official delegation accompanying His Highness, along with several senior Malaysian officials.

The post HH Sayyid Asaad Meets Malaysia’s Deputy Prime Minister to Discuss Bilateral Ties appeared first on The Gulf Indians.

Taking to his social media platform, Truth Social, Trump expressed frustration with the lack of movement in trade talks, stating that discussions with the EU “are going nowhere.” He added that he is recommending “a straight 50% tariff on the European Union, starting on June 1, 2025.”

The announcement sent U.S. stock futures tumbling, with markets reacting sharply to the prospect of heightened tariffs between the world’s largest economy and its biggest trading partner.

If implemented, the proposed tariff would represent a dramatic increase from the current baseline U.S. import duty of 10 percent on EU goods, significantly raising the stakes in an already tense economic relationship.

Last month, Trump introduced a series of sweeping tariffs targeting multiple countries, including the EU, with sector-specific duties on automobiles, steel, and aluminum — specifically those not produced in the United States. The announcement initially rattled markets, prompting a subsequent 90-day suspension on most of the new levies to allow for further negotiations, while maintaining the 10 percent base rate.

However, talks with the EU have reportedly lagged behind those with other trading partners. In response to the lack of progress, the European Union has warned it could retaliate by slapping tariffs on U.S. goods worth up to €100 billion ($113 billion) if negotiations fail to ease trade restrictions on European exports.

In his Friday post, Trump criticized the EU, alleging it was “formed for the primary purpose of taking advantage of the United States on TRADE,” and described the ongoing negotiations as “difficult.”

The looming threat of a 50 percent tariff raises the possibility of a broader trade conflict with the EU, as both sides brace for what could become a contentious economic standoff.

The post Trump Threatens 50% Tariff on EU Imports Starting June 1 appeared first on The Gulf Indians.

The award, granted by the European Foundation for Management Development (EFMD), acknowledges the success of the MDT program in delivering large-scale, human-centered learning that transforms organizations and empowers professionals in real time.

A Regional Milestone in Corporate Learning

Launched in 2023, the MDT program was co-designed by IE University and Zain Group’s Inclusion, Diversity, and Equity (IDE) department to meet the growing demand for digital leadership and capabilities in the telecom sector. Structured as an online, modular, and stackable degree, the program is delivered under Zain’s IDE University (IDEU) platform and has already reached over 2,000 employees across the Group’s eight operating markets.

“This award is a reflection of what’s possible when academic innovation meets corporate purpose,” said Martín Rodríguez Jugo, General Manager of Lifelong Learning at IE University. “The MDT program not only upskills individuals—it drives measurable change across an organization.”

Transformative Results

The MDT program’s impact is evident in its metrics:

• 2,000+ employees enrolled
• 92% course completion rate
• Nearly 8,000 course certifications
• 400 university-level certificates awarded

Through this initiative, Zain is embedding continuous learning into the core of its operations, advancing digital fluency, reducing dependence on external consultants, and enabling greater internal mobility. It is also contributing to key business areas such as customer experience, operational efficiency, and product innovation.

“The IDEU initiative in collaboration with IE University reflects Zain’s steadfast commitment to purpose-driven transformation and human capital development,” said Bader Al-Kharafi, Vice Chairman and Group CEO of Zain Group. “This recognition by EFMD reinforces our belief in Inclusion, Diversity, and Equity as pillars of innovation and sustainable growth. We are proud to empower thousands of employees through this transformative journey.”

A Growing List of Accolades

The EFMD Silver Award adds to a string of honors the MDT program has received for excellence in learning and development:

• Gold Winner – Brandon Hall EdTech Excellence Awards (2025)
• Winner – Merit Awards for Learning & Development, Middle East (2024)
• Finalist – QS Reimagine Education Awards (2024)

Award recipients will present their cases and receive formal recognition at the EFMD Executive Development Conference in October 2025.

About Zain Group

Zain is a leading ICT and digital lifestyle provider, serving 50.7 million active customers across eight markets in the Middle East and Africa. Operating in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan, South Sudan, and with a strategic stake in Morocco’s INWI, Zain is transforming digital and telecom experiences in the region.

Headquartered in the UAE, ZainTECH serves enterprise and government clients with integrated digital solutions, while Zain Omantel International (ZOI) is reshaping the regional wholesale telecom landscape. Zain is listed on Boursa Kuwait under the ticker ZAIN.
More info: www.zain.com

About IE University

IE University is a globally recognized institution focused on education, research, and innovation. With more than 10,000 students from 160 countries and a network of 80,000+ alumni in 185 countries, IE offers a technology-driven learning environment across six schools, including IE Business School, IE Law School, and the IE School of Science and Technology. The university’s mission centers on fostering global vision, entrepreneurial mindset, and humanistic values.
More info: www.ie.edu

The post IE University and Zain Group Win EFMD Silver Award for Groundbreaking Master’s Program in Digital Transformation appeared first on The Gulf Indians.

The amnesty period will be in effect from May 19, 2025, until April 30, 2026.

Key Features of the Amnesty Program:

• Foreign nationals residing illegally in Malaysia can leave the country without imprisonment or fines, provided they present a valid passport and a confirmed flight ticket back to their home country.
• The application fee for the program is 500 Malaysian Ringgit, payable via debit/credit card or TNG e-wallet.
• Applications must be submitted in person at any of the 14 designated Immigration Enforcement Offices across Malaysia. No prior appointment is necessary.
• The initiative is especially beneficial for individuals stranded due to visa fraud, including those who entered on tourist visas and became undocumented.

For Those Without a Passport:

• Migrants who have lost their passports can approach their respective embassies or consulates (such as the Indian Embassy) to obtain emergency travel documents (Outpasses).

Government’s Objective:

The primary aim of the program is to facilitate the safe and voluntary return of undocumented migrants while easing the burden on immigration enforcement. By providing a legal exit route, the government hopes to address overstaying issues without resorting to harsh legal action.

Background:

Many individuals from various countries, including India, have fallen victim to immigration-related scams in Malaysia. Trapped without proper documentation, many were unable to return home due to the fear of legal repercussions such as fines or detention. This amnesty comes as a timely solution for those who have been waiting for an opportunity to leave the country legally.

The post Malaysia Announces General Amnesty: Opportunity for Visa Fraud Victims and Undocumented Migrants to Return Home appeared first on The Gulf Indians.