Riyadh extends airport closure, UK imposes sanctions on Iranians and IMF cuts Gulf growth forecasts

In today's news, Yemen's Houthi rebels have escalated their attacks against Saudi Arabia, leading to the extension of King Khalid International Airport's closure until October 17. This closure has caused flight disruptions across the region, with Etihad Airways canceling services between Abu Dhabi and Riyadh until October 19.

The UK has imposed sanctions on two Iranian citizens believed to be involved in plots targeting the country, although Tehran denies any involvement. Meanwhile, Pakistan has detained allies of its former prime minister, Imran Khan, following the imposition of emergency rule and suspension of the provincial government in Khyber Pakhtunkhwa province.

The International Monetary Fund (IMF) has revised its economic growth forecasts for the Gulf region downwards, attributing the decline to the prolonged closure of the Strait of Hormuz. The IMF now predicts a 3.9% contraction in the UAE economy for the year.

In a separate development, the UAE Cabinet has approved a federal budget for 2027 to 2029, amounting to Dh292.5 billion ($79.64 billion). This budget represents a 28.3% increase compared to the previous three-year period.