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Kuwait Petroleum declared force majeure on crude oil and refined product shipments, invoking the contractual clause after the Hormuz blockade made it impossible to fulfill delivery obligations, Bloomberg reports. The move signals mounting supply disruptions from the closure of Hormuz, though a person with knowledge of the matter told the business information service that shipments won’t come to a complete halt.
DP World and representatives tied to the so-called “Board of Peace” are reportedly looking at taking over logistics infrastructure in Gaza, the Financial Times reports, citing sources familiar with the talks. The proposal includes a partnership to run logistics for humanitarian aid and other goods, including warehousing, tracking systems, and security. Ideas also include building a new port in Gaza or on Egypt’s coast and pairing it with a free-trade zone.
Where this lands is still unclear: It’s still not known which side drafted the proposal or how far talks have progressed yet, though discussions reportedly started late last year.
Oman set up a new bank in Angola as Muscat looks to go deeper in trade finance with Africa. The African Bank of Angola (ABO) is billing itself as a corporate investment bank focusing “on supporting large corporates engaged in trade between Angola, the GCC, and surrounding regions.” In its first phase, ABO is looking to serve 50 MNCs and public sector players across oil and gas, mining, and logistics — all of which are sectors where Angola and Oman’s long-term economic growth and diversification strategies overlap.
The launch of ABO specifically addresses Oman’s goal of acting as a “financial bridge” between the Middle East and Africa and lays the groundwork for a reliable financial channel for Omani firms looking to enter high-growth, high-risk African markets.
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Qatar’s Civil Aviation Authority has startedto gradually allow foreign carriers to operate in Hamad International Airport after more than a 7-week hiatus.
