politics

Arab-Islamic bloc condemns Iran strikes on Gulf states

Arab and Islamic foreign ministers issued a unified condemnation of Iran’s missile and drone attacks across the Gulf on Thursday, warning that the strikes on civilian infrastructure “cannot be justified under any circumstances” and urging Tehran to immediately halt its escalation.

Meeting in Riyadh amid intensifying regional tensions, ministers from Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, Egypt, Jordan, Syria, Türkey, Pakistan, Azerbaijan and Lebanon said continued violations of sovereignty would carry consequences and reaffirmed the right of states to defend themselves under Article 51 of the UN Charter.

Highlights

Unified condemnation: Arab and Islamic ministers jointly denounce Iran’s missile and drone strikes, calling them unjustified attacks on civilian infrastructure.
Military option open: Saudi Arabia says it reserves the right to take military action, warning its restraint “is not unlimited.”
Riyadh targeted during talks: Ballistic missiles aimed at the Saudi capital were intercepted while ministers were meeting in Riyadh, with explosions heard across the city.
Widespread attacks: Energy sites including refineries and gas facilities targeted across Gulf states.
Escalation risks widen: Ministers warn of threats to global shipping and energy flows, urging Iran to halt attacks and de-escalate.

The joint statement described what it called deliberate targeting of civilian sites — including oil facilities, desalination plants, airports, residential areas and diplomatic missions — and warned against threats to global shipping routes such as the Strait of Hormuz and the Bab Al Mandeb.

The unified stance signalled a growing regional alignment against Tehran as attacks spread across multiple Gulf states.

Saudi Arabia’s warning sharpens

Against that backdrop, Saudi Arabia signalled it could take military action, with Foreign Minister Prince Faisal bin Farhan warning that the Kingdom’s restraint “is not unlimited.”

“We have reserved the right to take military action if deemed necessary,” he said after the meeting. “The Kingdom is not going to succumb to pressure… and this pressure will backfire.”

In some of his strongest remarks since the conflict began, Prince Faisal suggested patience could run out at any moment. “It could be a day, two days, or a week — I will not say,” he added.

He also said that what little trust remained between Riyadh and Tehran following the 2023 restoration of ties “has been completely shattered,” warning that further escalation could leave “almost nothing” to salvage in the relationship.

Clear signal

Prince Faisal accused Iran of trying to pressure its neighbours through sustained attacks and said the targeting of Riyadh — while diplomats were meeting in the capital — sent a clear signal about Tehran’s stance.

“I think that’s the clearest signal of how Iran feels about diplomacy,” he said. “It doesn’t believe in talking to its neighbours.”

He also dismissed Iran’s claim that it was targeting US-linked assets as “weak,” condemning what he described as repeated strikes on civilian infrastructure across the Gulf.

His comments came as Saudi Arabia reported fresh Iranian attacks, including ballistic missiles targeting Riyadh on Wednesday. Air defence systems intercepted four missiles over the capital, while residents reported loud explosions and emergency alerts — a rare moment when the war was directly felt in the city.

Debris from intercepted projectiles fell near a refinery south of Riyadh, though authorities reported no casualties.

Continued attacks risk closing the door to de-escalation

The Saudi defence ministry said it also intercepted and destroyed six drones over Riyadh and the Eastern Region on Thursday, part of a broader wave of attacks across the Gulf.

Since February 28, Saudi officials say air defences have intercepted at least 457 drones, 40 ballistic missiles and seven cruise missiles — underscoring the scale and intensity of the campaign.

The UAE has faced an even higher volume of attacks, while Qatar, Kuwait and Bahrain have also come under fire.

In Qatar, authorities said civil defence teams had contained fires at a major gas facility in the Ras Laffan Industrial Area after an Iranian strike, with no injuries reported.

Kuwait reported a drone strike on the Mina Abdullah refinery that caused a fire, while its air defences shot down five drones early Thursday. Officials said security forces remain on high alert to protect vital infrastructure.

Saudi officials confirmed that two of its oil refineries had also been targeted, contradicting earlier Iranian claims that strikes were limited to US-linked assets.

Ministers also warned that continued escalation could threaten maritime security and disrupt global energy flows, urging Iran to refrain from actions that could endanger navigation through key chokepoints.

Despite the sharp warnings, Prince Faisal said Saudi Arabia still prefers a diplomatic path — but cautioned that continued attacks risk closing the door to de-escalation.

Analytics

A Labubu movie is on its way

Collectible toy maker and IP powerhouse Pop Mart is teaming up with Sony Pictures to bring its wildly popular Labubu doll to movie theaters.

The live-action and CGI hybrid film is in early development, according to a press release on Thursday. Filmmaker Paul King, best known for 2014′s “Paddington” and “Wonka” from 2023, will produce, direct and co-write the script with screenwriter Steven Levenson.

The now-iconic Labubu character was created by artist Kasing Lung as part of “The Monsters” toy universe, and later became one of Pop Mart’s signature “blind box” hits, gifts packaged in such a way that shoppers don’t know exactly what they’re buying until after they’ve completed their purchase.

Labubu hit peak popularity in the summer of 2025 as sales on the secondary market skyrocketed. But the hype began to quickly fade as sales from resellers lost steam as Pop Mart — a Chinese company — ramped up toy production to meet consumer demand. At the time, Pop Mart told CNBC the fall in resale prices would benefit the company.

According to data supplied to CNBC by Pop Mart, in the first half of 2025, products from “The Monsters” series made up 34.7% of Pop Mart’s revenue, followed by the Molly series, a figurine of a wide-eyed, pouty-lipped girl at 9.8% and Skull Panda, a dark, gothic-themed character at 8.8%.

Franchise expansion

In a February 2026 report, HSBC analysts warned that the Labubu frenzy could lessen and Pop Mart’s earnings could fall, writing: “We expect 2026 growth to normalize after dissecting the Labubu growth risk, leading to 11% to 13% cut in 26-27 earnings.”

Now, as Pop Mart looks for ways to keep the franchise momentum going, the company says the collaboration marks a major step in expanding “The Monsters” from collectibles into a big-screen story.

Movies are not Pop Mart’s goal, according to Chief Operating Officer Si De, in an interview with CNBC’s Elaine Yu on March 1.

“What we look forward to more is using storytelling to help people fall in love with these IPs more deeply or find those points of connection. I think this is the core point of what we want to achieve with our content,” he said.

Si De said the benefits of movies or animation is twofold. “On one hand, it lets people see the [characters’] world more intuitively. On the other hand, it generates a large amount of material. Some of this material can become product designs, some can inspire our theme park design,” he said.

CNBC

politics

Saudi Arabia warns Iran of ‘consequences’ after attacks on refineries

Saudi Arabia’s foreign minister issued a stark warning to Iran late Wednesday, declaring the Kingdom reserves the right to launch military strikes after aerial attacks on key targets.

Speaking after an emergency summit of Arab and Islamic ministers in Riyadh, Prince Faisal bin Farhan said pre-war trust with Tehran is now obliterated — and urged Iran to rethink its dangerous errors.

The top diplomat slammed Tehran’s bid to bully Riyadh and Gulf neighbours, vowing it would fail spectacularly. “This pressure from Iran will backfire politically and morally, and certainly we reserve the right to take military actions if deemed necessary,” he said.

Prince Faisal added, “The Kingdom and its partners possess significant capabilities, and the patience we have shown is not unlimited. It could be a day, two days or a week; I will not say.”

“We’ve seen two refineries targeted today,” Prince Faisal told reporters. “What’s the purpose of that? The Iranians have to understand that it will have consequences.”

Saudi Foreign Minister @FaisalbinFarhan:

“Iran is calling for solidarity from the Islamic world while targeting Muslims!

If Iran believes Gulf states are incapable of responding, then its calculations are mistaken and dangerous.”

politics

US‑Israel war on Iran, Day 21: UAE intercepts threats

The UAE has issued an urgent missile threat alert, urging residents to seek shelter as air defences successfully intercept incoming attacks. As Israel launches major strikes on Tehran, regional tensions escalate, with global powers condemning attacks on infrastructure and authorities warning against rumours and misinformation. Follow our live coverage for the latest updates on this developing crisis:

07:10 AM, 20 March 2026

Kuwaiti air defences intercept missile and drone attacks

Kuwait’s air defence systems are currently intercepting hostile missile and drone threats, according to a statement issued by the General Staff of the Kuwaiti Armed Forces on Friday.

Authorities confirmed that any explosion sounds heard are the result of successful interception operations carried out by air defence units.

06:36 AM, 20 March 2026

Dubai confirms successful air defence interceptions

The competent authorities in Dubai have confirmed that the sounds heard in several areas across the emirate were caused by successful interceptions carried out by air defence systems.

Officials clarified that the noises reported by residents were the result of defensive measures that successfully intercepted aerial threats. Authorities emphasised that the situation remains under control.

06:10 AM, 20 March 2026

Israel: ‘Massive’ wave of strikes targeting Tehran

Israel says a ‘massive’ wave of military strikes targeting Tehran has been launched.

05:52 AM, 20 March 2026

UAE air defences respond to incoming aerial threats from Iran

UAE air defences are currently responding to incoming aerial threats from Iran.

The Ministry of Defence (MoD) asserts that the sounds heard are the result of the air defence systems intercepting missiles and drones.

The authorities have urged the public not to circulate rumours and to obtain information solely from official sources.

05:47 AM, 20 March 2026

Iran regime’s missile assembly plant flattened in US strikes: CentCom

An missile manufacturing and assembly facility in Iran had been razed to the ground following strikes as part of “Operation Epic Fury”, as per the US Central Command. In the missile factory hit, satellite imagery shows a before-and-after videos.

03:24 AM, 20 March 2026

European countries, Japan condemn Iran’s attacks on civilian infrastructure in Gulf nations

The United Kingdom, France, Germany, the Netherlands, Italy and Japan have strongly condemned Iran’s attacks on civilian infrastructure, including oil and gas facilities in Gulf states, as well as the effective closure of the Strait of Hormuz and the targeting of commercial vessels.

02:55 AM, 20 March 2026

UAE welcomes IMO Council’s resolution condemning Iran’s attacks, purported closure of Strait of Hormuz

The UAE has welcomed a resolution adopted by the International Maritime Organisation (IMO) Council strongly condemning Iranian threats and attacks on shipping, and the purported closure of the Strait of Hormuz.

The decision was adopted during the council’s 36th extraordinary session, with the IMO warning that such actions endanger lives, particularly those of seafarers, and pose serious risks to the marine environment.

The council also condemned Iranian attacks on Gulf Cooperation Council states and Jordan, describing them as violations of international law.

02:35 AM, 20 March 2026

Bahrain intercepts, destroys 139 ballistic missiles, 238 drones

The General Command of the Bahrain Defence Force announced that its air defence systems, since the onset of the hostile Iranian aggression, have intercepted and destroyed 139 ballistic missiles and 238 drones targeting the Kingdom of Bahrain

In a statement carried by Bahrain News Agency (BNA), the General Command emphasised that the use of ballistic missiles and drones to target civilian areas and private property constitutes a flagrant violation of international humanitarian law and the United Nations Charter.

02:13 AM, 20 March 2026

UAE State Security Department dismantles Hezbollah-linked network targeting economy

The UAE’s State Security Department has announced the dismantling of a terrorist network funded and directed by Lebanon’s Hezbollah and Iran, with its members arrested.

Authorities said the group had been operating within the country under the cover of a fictitious commercial front, seeking to infiltrate the national economy and carry out external agendas that threaten the country’s financial stability.