Share markets slid in Asia on Monday while US bond yields hit eight-month peaks as the US and Iran traded escalating threats and Israel planned for “weeks” more fighting, sending oil prices on another roller-coaster ride.

Iran said on Sunday it would strike the energy and water systems of its Gulf neighbours if US President Donald Trump followed through with a threat to hit Iran’s electricity grid in 48 hours, extinguishing any hope of an early end to the war, now in its fourth week.

Trump warned Iran had two days to fully open the vital Strait of Hormuz, which is effectively closed for most vessels with little prospect of naval protection for shipping.

Japan’s Nikkei fell 3.8 per cent, bringing losses for March so far to over 13 per cent. South Korea’s market .KS11 shed 5.2 per cent, making a 12 per cent drop for the month.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2.5 per cent, while Chinese blue chips dropped 1.9 per cent.

Oil prices were again choppy with Brent last up 0.4 per cent at $112.62 a barrel, and 55 per cent higher on the month so far. U.S. crude CLc1 gained 0.8 per cent to $98.98.

Near-term supplies have been aided by the US allowing Iranian and Russian oil to be sold from tankers, but the growing risk of longer-term shortages was lifting futures down the curve. September Brent, for instance, was up $1 at $92.90 suggesting high prices were here to stay.

“The war could still go on for many weeks yet and see oil prices rise say to $150 a barrel,” said Shane Oliver, head of investment strategy at fund manager AMP. “And the steady destruction of energy infrastructure means it will take longer to get supply back to normal.”

“It’s also worth noting that past oil shocks unfolded over many months in terms of the rise in oil prices as the full impact became clearer – it was over about 4 months in 1973 and a year in 1979.”

Analysts at HSBC noted Singapore jet fuel was up 175 per cent this year to a multi-decade high, while Asian liquefied natural gas had climbed 130 per cent. Bunker fuel used in shipping had blown out, raising the cost of transporting goods, while surging fertiliser prices will make food more expensive.

International Energy Agency boss Fatih Birol warned the crisis was “very severe” and worse than the two oil shocks of the 1970s put together.

Walking through Dubai’s historic Al Ras district soon could be a very different experience. Shaded paths, murals by local artists, and easy access to metro, bus, and even water transport are all part of a new plan to make the city easier to navigate on foot.

The Roads and Transport Authority (RTA) has awarded the contract for Phase I of the Dubai Walk Master Plan in Al Ras.

The phase covers the development of the historic Al Ras Walkway, featuring 12 km of walkways and 5 km of cycling tracks, alongside the rehabilitation of 10 artistic spaces in coordination with Dubai Culture and Arts Authority, with the participation of Emirati and local artists.

Key highlights of the ‘walkway’ plan

Mattar Al Tayer, director general and chairman of the Board of Executive Directors of the RTA, said the project supports Dubai’s wider goal of creating a “20-minute city” under the Dubai Urban Plan 2040, where more than 80 per cent of essential services are accessible within a 20-minute journey.

“The plan enhances pedestrian safety, strengthens connections between districts, and integrates cultural and creative elements into walkways,” Al Tayer said. “It also gives young people a chance to contribute ideas to the design of these public spaces.”
Connecting heritage sites and transport

The walkway will link key landmarks, including Al Ahmadiya School, Sheikh Saeed Al Maktoum House, Al Fahidi Fort, and the Al Shindagha Historic District.

It will connect to 11 metro, bus, and marine stations, making it easier for residents and visitors to use public transport.

The design preserves the area’s historic character while improving the pedestrian experience.

Pavements will be widened, shading and seating added, green spaces expanded, and wayfinding systems installed.

Advanced lighting will highlight the district’s heritage, while interactive installations and artwork will make the walk more engaging.

Part of wider master plan to support pedestrian movement

Phase I is part of a wider Dubai Walk Pedestrian Master Plan that aims to create more than 6,000km of walkways across 160 areas by 2040, supported by 110 pedestrian bridges and underpasses.

The goal is to increase walking and soft mobility trips from 16 per cent in 2025 to 25 per cent by 2040.

Planned bridges on Al Ittihad Street, Tripoli Street, Al Khawaneej Street, and Dubai–Al Ain Road will improve connections between key districts.

The walkways will include landscaping, misting systems, digital wayfinding, recreational and fitness equipment, rest areas, and commercial spaces, while maintaining barrier-free access.

The UAE is set to experience unsettled weather conditions starting Sunday, with cloudy skies, a drop in temperatures and chances of rainfall across several areas, according to the National Centre of Meteorology (NCM).

In its latest forecast, the NCM said March 23 will be partly cloudy to cloudy, with the formation of convective clouds that may bring rainfall over scattered parts of the country. The change in weather is also expected to lead to a noticeable decrease in temperatures, a WAM report said.

Read more-UAE weather forecast: Rain, thunderstorms and a chance of hail

Winds will be southeasterly to northeasterly, light to moderate in speed, but are expected to become active to strong at times, especially with cloud activity. Wind speeds will range between 10 and 25 km/hr, reaching up to 45 km/hr in stronger gusts. These conditions may cause blowing dust and sand, leading to reduced horizontal visibility in some areas.

Sea conditions are also expected to fluctuate. The Arabian Gulf will see slight to moderate waves, becoming rough at times with cloud activity. Similarly, the Oman Sea will experience slight to moderate waves, with rough conditions developing intermittently.

Intermittent rainfall forecast across the week

The NCM has also indicated that the UAE will be affected by a broader weather system beginning Sunday and continuing through March 27, bringing rainfall of varying intensity at intermittent intervals.

“Rainfall of varying intensity will occur at intermittent intervals, affecting several areas across the country,” the NCM said in a statement.

According to the forecast, rain is expected Sunday afternoon over northeastern areas, Al Ain and southern regions. By nighttime, rainfall may extend to western and southern areas and further into inland regions.

On Monday, scattered rainfall is likely across the country during the daytime, followed by precipitation over northern and eastern regions, including Al Ain, at night. Tuesday’s forecast points to rainfall over northern, eastern and southern areas during the day, with conditions extending at night to western, coastal and island areas.

Midweek changes before gradual easing

Rainfall is expected to continue into Wednesday, occurring at intervals across the UAE during the day. Eastern regions and Al Ain may experience additional rainfall at night, although the chances are expected to gradually decrease later in the night.

On Thursday, the morning is likely to see a lower probability of rainfall. However, conditions may intensify again by the afternoon, particularly over northern and eastern regions and Al Ain, before extending to coastal areas, islands and western regions overnight.

By Friday, rainfall is forecast across scattered areas of the country during the daytime. Showers are expected to begin over islands and coastal regions before moving inland, covering most parts of the UAE.

Chinese Premier Li Qiang pledged on Sunday to further open up the economy and fully implement national treatment for foreign enterprises, as the country seeks to reassure the outside world amid rising global trade tensions.

China will focus on promoting high-quality development and continue to create a favourable business environment so that companies coming to China can develop with confidence and achieve great success, Li told the China Development Forum in Beijing, state media reported.

The annual two-day forum, which concludes on Monday, serves as a platform for Beijing to promote its economic trajectory and investment opportunities to foreign business leaders, Chinese officials, economists and academics.

This year’s gathering comes as the world’s second-biggest economy faces rising tensions with major trading partners over last year’s record $1.2tn trade surplus.

It also precedes an expected visit from US President Donald Trump, who postponed a trip originally planned for late March due to the US-Israeli strikes on Iran.

Senior executives attending include those from Apple, Samsung Electronics, Volkswagen, chipmaker Broadcom Inc, industrial conglomerate Siemens, chemical producer BASF and pharmaceuticals firm Novartis.

No Japanese company executives were listed on the guest list on the forum’s website.

China says it’s committed to ‘certainty’ and ‘stability’

Li said China would import more high-quality goods and work with trading partners to promote balanced trade development and expand the global trade pie, describing China as committed to being a “cornerstone of certainty” and “harbour of stability” for the world economy.

He said opening up and technological progress were needed to create new markets.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, led tributes across the UAE on Mother’s Day, announcing a symbolic yet powerful shift in how mothers are recognised in official terminology.

“Mothers are the first school for their children, the place where children learn belonging, responsibility and the values that shape strong nations,” Sheikh Hamdan said in a post on his official X account.

Marking the occasion, he directed the Community Development Authority to adopt the title “Generation Shaper” in place of “housewife,” underscoring the profound societal role mothers play.

“To all our mothers… Thank you. You are the foundation of everything good. Happy Mother’s Day,” he added.

Mothers as pillars of stability and values

Echoing this sentiment, Sheikha Fatima bint Mubarak, widely known as the “Mother of the Nation,” highlighted the enduring influence of mothers in shaping cohesive and resilient societies.

In a statement reported by WAM, she said that the responsible giving of mothers forms “a cornerstone of stability” and reflects deeply rooted values that prepare future generations to take on responsibility with confidence.

“On Mother’s Day, I extend my sincerest feelings of appreciation to every mother in the UAE and around the world,” she said, recognising their vital role in building both families and broader society.

She described mothers as the “foundation upon which tranquility in homes is built” and the starting point for a child’s awareness and sense of belonging.

Health and wellbeing rooted in motherhood

Further reinforcing the central role of mothers, Mansoor Al Mansoori, chairman of the Department of Health – Abu Dhabi, emphasised their influence on family health and wellbeing.

“Mothers are the first guardians of family health, shaping behaviours, guiding decisions, and building the resilience of future generations,” he said.

He noted that as the UAE marks the Year of the Family, the importance of strong familial foundations, anchored by mothers, has become even more evident.

“In times of uncertainty, this role becomes even more critical,” Al Mansoori added, praising mothers across Abu Dhabi for providing stability, care and reassurance aligned with the nation’s healthcare principles.

He reaffirmed the department’s commitment to equipping mothers with the knowledge and services needed to sustain their essential role within families and communities.

Across official statements, a clear theme emerged: mothers are not only caregivers but nation-builders whose influence extends far beyond the home.

From shaping values and identity to safeguarding health and stability, the UAE’s leadership collectively recognised mothers as the backbone of society, deserving of both gratitude and elevated recognition.