PODCAST: Why This Recession is Different

US Africa Command said in a press release on Thursday that its forces launched an airstrike in southern Somalia on April 15, the same day the US-backed Somali government announced major attacks against al-Shabaab that it said involved airstrikes supported by “international partners.” As usual, AFRICOM offered barely any details on the strike, saying only […]

The Iranian Red Crescent Society (IRCR) said on Thursday that US-Israeli strikes have damaged more than 20,000 “civilian units” since the US and Israel launched the war against Iran on February 28. The group, whose rescue workers are responding to strikes across the country, said that the figure includes 17,353 residential units, 4,122 commercial units, […]

Metal Shock: Gulf's Largest Aluminum Producer Declares Force Majeure A little more than a week after Emirates Global Aluminum (EGA), the Gulf's largest aluminum producer, halted operations at its Al Taweelah smelter following Iranian missile and drone strikes, EGA has now declared force majeure on parts of its contract book, signaling that supply chain disruptions are spreading beyond energy markets and into industrial metals. Bloomberg obtained new documents showing that EGA invoked force majeure clauses to suspend at least some deliveries after Iranian drone and missile strikes damaged the Taweelah smelter...