Dubai Hit by Iranian Retaliation as Gulf Tensions Escalate

Following joint Israeli-US air strikes on Iran on Saturday morning, described by President Donald Trump as “major combat operations,” Iran launched retaliatory missile attacks targeting several cities across the Gulf.

Authorities in Kuwait, Qatar, Bahrain and the United Arab Emirates, as well as Jordan, said their air defence systems intercepted incoming missiles.

In Dubai, five large explosions were heard late in the afternoon, according to Reuters.

Footage circulating on social media appears to show an impact at a five-star hotel on Palm Jumeirah in Dubai following the Iranian ballistic missile attack.

A supermarket employee in Dubai’s Nshama Town Square told Reuters that some suppliers had warned they would not immediately restock certain goods. “This is not normal,” the worker said. “The water is already running out.”

Dubai has emerged as a major hub for CFD brokers in recent times, due in part to faster licensing approval times. XM, Exinity, VT Markets, Eightcap, EC Markets, Pepperstone, Taurex, and many others have a Category 5 licence, which is similar to an introducing broker licence in some other parts of the world.

This article was written by Adonis Adoni at www.financemagnates.com.

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