Archive photograph: Hamed Malekpour / Tasnim News Agency, via Wikimedia Commons, CC BY 4.0.
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Morning. Steve Moore here. Al Jazeera reports that Iran’s navy has accused US forces of striking its Konarak naval base early on Monday and wounding two personnel. Emirates Wire has not independently verified the attack or its attribution to US forces.
In Yemen, a Houthi missile strike killed at least 53 recruits at a military camp in Shabwa province, according to provincial authorities. UAE President Sheikh Mohamed bin Zayed met with Emmanuel Macron in Abu Dhabi to discuss maritime security and energy supplies. Separately, organisers postponed Riyadh’s investor conference until next year.
Iran accuses US forces of a strike on Konarak
Al Jazeera’s Monday afternoon update quoted Iran’s navy as saying two “light projectiles” targeted a 35mm cannon at the base in Sistan and Baluchestan province on Iran’s southeastern coast. The account did not mention an American response or independently establish responsibility.
Recruits killed at Shabwa camp
The missiles hit al-Alam military base near Ataq, where recruits were training for internal-security duties. A Yemeni military official told the Associated Press that the recruits were lined up in formation when the attack happened.
Shabwa’s government said the death toll was preliminary; AP reported another 200 recruits wounded. The Houthis acknowledged targeting the camp, while the provincial authorities appealed to Yemen’s government and the Saudi-led coalition for air-defence and early-warning systems.
The attack follows Houthi territorial gains along the Red Sea coast and near the Bab el-Mandeb strait, as well as repeated strikes on Saudi airports and energy facilities.
The disputed report of renewed UAE funding
The Guardian’s Patrick Wintour reported on Saturday, citing sources in Yemen, that the UAE would resume funding southern forces, mainly the Giants Brigades, in return for Saudi air cover. His report says payments would resume after the UAE ended its operations in Yemen in January, following a dispute with Riyadh.
Emirati political scientist Abdulkhaleq Abdulla has publicly disputed the report, writing that the UAE had ended direct military involvement and financial support for Yemeni forces. His comments are not an official government statement.
On Sunday, Saudi Defence Minister Prince Khalid bin Salman met Sheikh Mohamed in Abu Dhabi. The public account did not announce the funding arrangement or any deployment of Emirati troops.
Dubai’s ruler, Sheikh Mohammed bin Rashid, urged Gulf people to work together in a letter published on Monday. He urged readers to resist divisive media and social-media exchanges, arguing that shared history and family ties should outlast political differences.
Egypt delays its decision
Egyptian MPs postponed a vote on President Abdel Fattah El Sisi’s request for authority to help defend Saudi Arabia. The New Arab reports a new date of 26 October, while The National says a decision could still come sooner.
Parliamentary approval would authorise action rather than automatically send troops, and Egypt says it would act only if Saudi Arabia asked. The public debate includes demands for a defined mission and limits on the commitment.
An embattled Macron brings continuity to Abu Dhabi
Sheikh Mohamed received the French president at Zayed International Airport on Monday, ahead of their talks in Abu Dhabi. They discussed how the conflict is affecting shipping and energy supplies.
Macron is embattled at home after a weekend of cost-of-living protests and violence, with critics questioning his decision to proceed with the Gulf tour. His Gulf talks include efforts to secure energy supplies and limit the impact of fuel costs at home.
I hear that his consistency is particularly appreciated in the UAE. He has been president since May 2017, for more than nine years. Six British prime ministers have served since he was first elected, from Theresa May to Andy Burnham.
Sheikh Mohamed and Macron also discussed advancing joint projects in energy, advanced technology and artificial intelligence. The published readout gave no details of a new air-defence agreement or fuel-supply contract.
Riyadh postpones its investor conference
The Future Investment Initiative Institute said its annual gathering, scheduled for 26–29 October, would now take place in 2027. New dates will be announced later, and existing registrations and partnerships remain valid.
The postponement follows Houthi attacks on Saudi Arabia. The organisers’ statement did not cite the attacks.
Brent closes higher; shipping reports remain incomplete
Brent’s recorded daily close was $110.09 a barrel on Monday, up 23 cents from Friday’s $109.86.
In Sunday’s incident off the UAE’s east coast, UK Maritime Trade Operations said two unknown projectiles hit a southbound tug northeast of Khor Fakkan, causing one minor injury and damage. The tug continued its voyage, and the report did not identify the attacker.
Argus reported on Friday that the maritime agency struggled to verify incidents because many vessels did not report attacks directly. That limits what a published incident count can tell us about the full extent of the danger.
DIP Holding puts dividends at the centre of its listing
DIP Holding, which owns Dubai Investments Park, said on Monday that it plans to list on the Dubai Financial Market through an initial public offering (IPO). The expected subscription period runs from 27 October to 3 November, with trading expected to begin on or around 11 November.
Bloomberg reports that parent company Dubai Investments plans to sell 20% of DIP Holding in the UAE’s first IPO since the Iran conflict began. It says DIP expects annualised dividends of Dh700 million for 2026, followed by Dh725 million in 2027 and Dh750 million in 2028.
Those are expected company-wide payouts, not a promised return on the stake being offered. The yield, the annual dividend per share divided by the purchase price, will depend on both the price investors pay and the dividend actually paid.
Subscriptions have not opened yet. Readers considering an application should check the approved prospectus and eligibility requirements before committing money.
Saudi flights: cancellations and tentative restarts
Etihad says all its Riyadh and Dammam flights remain cancelled through Saturday 24 October, along with Jeddah services EY601, EY602, EY603 and EY604. The National reports that flydubai’s Riyadh, Dammam and Abha cancellations also run through that date.
The National, citing Flightradar24, lists Emirates flight EK817 to Riyadh for Tuesday, followed by EK815 and EK819 on Wednesday. It lists Jeddah services EK801, EK803 and EK805 for Wednesday.
Those are reported schedules, not confirmation that flights have operated. Check your flight number directly with the airline before leaving for the airport, and keep your booking contact details up to date.
What I am watching
I am watching for corroboration from the Konarak account and a response from the American side. Official statements on the reported Yemen funding arrangement and any agreements following Macron’s visit are also worth watching.
Please share this briefing with someone working or travelling in the Gulf this week.
Thank you for reading, and send stories, tips or perspectives to steve@emirateswire.co.uk.
Has an airline or conference organiser changed your plans? I would like to hear what happened and how it was handled.
Steve
Emirates Wire uses AI tools to assist with research, early drafting, fact-checking and copy-editing. Steve Moore reviews, edits and personally approves every sentence before publication.