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27.03.26 - 17:51
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UAE Pushes For Hormuz Security Force, While Turkey Argues Against Gulf Entry Into War (ZeroHedge)
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UAE Pushes For Hormuz Security Force, While Turkey Argues Against Gulf Entry Into War
It's one of those things that sounds nice on paper, but when missiles and drones are inbound, no one is going to want to be on a military ship sitting in the middle of the Strait of Hormuz: the United Arab Emirates, which has been among the hardest-impacted Gulf states in Iran's ongoing retaliation, is pressing for a multinational maritime taskforce to reopen vital oil transit waterway, the Financial Times reports Friday.
The UAE, with a navy that's not really going to strike fear into any enemy (much less the Iranians), says it is willing to participate in a "Hormuz Security Force" to defend the strait and escort shipping. Dozens of countries are being asked to join, sources cited in FT say.
Source: Abu Dhabi Ship Building Company
And yet for all the public posturing and signing of 'symbolic statements' - not a single country with a strong military has actually stepped up with a conc...
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26.03.26 - 19:31
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Turkey Dumped 58 Tons Of Gold After Iran War Started, Slamming Price (ZeroHedge)
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Turkey Dumped 58 Tons Of Gold After Iran War Started, Slamming Price
There has been much speculation about the mystery seller(s) that sent gold sliding into a bear market from its January high: was it a sovereign seeking to plug holes in their budget from the recent surge in oil, a "market maker" trying to spark stop loss liquidations, or just retail investors taking profit after one of the best years in history for the precious metal?
Today we learned the identity of at least one of the sellers: Turkey's central bank sold and swapped about 60 tons of gold, worth more than $8 billion, or more than 10% of the country's total holdings, in two weeks after the start of the war in Iran, adding to the sharp downward pressure on bullion prices.
Turkish gold reserves showed a decline of 6 tons in the week of March 13 and another 52.4 tons in the week of March 20, marking a sharp drawdown in reserves, according to the latest data published by the central bank. While the composition of the s...
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25.03.26 - 03:36
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Turkey′s biggest private bank plans Hong Kong entry amid Middle East tensions: sources (SCMP)
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Turkey's largest private bank plans to set up a Hong Kong office, according to sources familiar with the matter, in a move that underscores the city's role as a gateway for lenders seeking to connect China and Asian markets with the Middle East.
Turkiye Is Bankasi's board approved the Hong Kong expansion plan two months ago and the lender was awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, the sources said.
If......
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