The conflict in Iran could raise cargo transport costs from Asia to Europe by at least 10 per cent, according to Hong Kong sector representatives, as major shipping companies suspended bookings to and from the Middle East or imposed significant war-risk surcharges. Lawmaker Tommy Chung Ki-fung, who represents the import and export constituency, explained on…
WANA (Jan 31) – Press TV and Al Jazeera have reported that a joint naval exercise involving Iran, China, and Russia will be held in the coming days in the waters of the Gulf of Oman and the Strait of Hormuz. The maneuver is widely seen as significant, taking place amid rising tensions between…
Beijing has urged the international community to step up efforts to de-escalate the conflict between Iran and Israel, warning that the fallout could damage the global economy as Tehran threatens to block the Strait of Hormuz – one of the world’s most important shipping routes. A blockade of the strait, which handles roughly 20 per…