UAE

Bloomberg reports that Abu Dhabi National Oil Company (ADNOC) is considering a third pipeline running from the UAE's western coast to the port of Fujairah, according to OilPrice.com. The UAE already runs one crude export line that avoids the Strait of Hormuz, a 252-mile route from Habshan to Fujairah. An ADNOC spokesperson told Bloomberg the report is not accurate and purely speculative. Saudi Arabia and Kuwait are also expanding or proposing routes around the strait.

Binance reports that it has returned between 98 % and 100 % of the roughly $6.3 billion taken in a 20‑minute hack, using its emergency fund and internal reserves. The breach, attributed to the North Korean hacking unit TraderTraitor, forced the exchange to pause all withdrawals and deposits before gradually resuming major currencies. Regulators in South Korea convened with exchanges following the incident, the largest crypto theft on record.

The US Federal Reserve kept its benchmark interest rate in a 3.75 to 4.00 per cent range on 28 October 2026, according to the Federal Open Market Committee. The decision was a 10 to 2 vote. Two members, Governor Lisa Cook and Cleveland Fed President Beth Hammack, wanted another quarter-point increase. The Fed had raised rates in September for the first time since 2023. Consumer prices rose 3.7 per cent from a year earlier in September, while core inflation rose 2.6 per cent. The decision came six days before the US midterm elections, where inflation is a key issue.