The US International Development Finance Corporation (DFC) said it plans to deploy a maritime reinsurance programme covering up to $20bn in potential losses to help restore confidence in shipping in the Gulf region amid ongoing tensions involving Iran.

The plan, approved by US President Donald Trump, and announced jointly with US Treasury Secretary Scott Bessent, aims to support maritime trade and stabilise international commerce by providing war risk reinsurance for vessels operating in the region.

DFC said the facility would insure losses on a rolling basis of up to about $20bn and will initially focus on coverage for hull and machinery as well as cargo.

The programme will apply only to vessels that meet specified criteria and will be implemented in coordination with the United States Central Command (CENTCOM), which oversees US military operations in the Middle East.

According to DFC, the agency has identified American insurance partners to support the programme and is working with the US Department of the Treasury on next steps for implementation.

Move to restore confidence in maritime trade through Strait of Hormuz

DFC chief executive Ben Black said the initiative was intended to help restore confidence in maritime trade and ensure the continued flow of key commodities through the Strait of Hormuz.

He said the reinsurance plan was designed to help move shipments, including oil, gasoline, liquefied natural gas, jet fuel and fertiliser through the waterway, one of the world’s most important energy transit routes.

The agency said the programme forms part of a broader effort by Washington to use DFC’s financial tools to support global trade flows and businesses operating in the Middle East during the current regional tensions.

Read: Oil spikes as Hormuz disruption rattles global markets

Indian companies have raised the prices of liquefied petroleum gas, mostly used as a cooking fuel, for the first time in about a year, as global prices surge with the US-Israel war on Iran disrupting supplies from the Middle East.

Indian Oil Corp, the country’s top refiner and LPG seller, has increased the prices of a 14.2-kg LPG cylinder in Delhi by 7 per cent to 913 rupees ($9.93), according to its website.

State refiners IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp raised prices in tandem.

India, the world’s second-biggest importer of LPG, last year consumed 33.15 million metric tons of cooking gas, a mixture of propane and butane, with imports accounting for about two-thirds of LPG consumption. Middle Eastern LPG accounts for 85% to 90 per cent of those imports.

India on Friday asked refiners to boost LPG production to avoid any shortage of cooking gas in the country.

Indian companies have also raised the prices of 19-kg commercial LPG cylinders, mainly used by hotels and restaurants, to 1,883 rupees from 1,768.50 rupees.

The start of the conflict on February 28 has clearly left its mark on Dubai’s real estate market.

After entering the year on very strong footing, the market saw an immediate slowdown in activity.

However, looking closely at the Dubai Land Department records tracked by The Real Estate Reports, the story isn’t just about falling volumes, it’s about a market that is pausing rather than breaking.

The immediate impact: A sharp drop in liquidity

The most visible change happened in the first full week after February 28. If we look at the headline totals, which include land deals, the numbers show a significant cooling effect.

In Week 9 (Feb 23–Mar 1), the market saw Dhs20.72bn across 5,473 transactions. By Week 10 (Mar 02–08), those figures dropped to Dhs10.37bn across 3,038 transactions. That is a 49.9 per cent decline in value and 44.5 per cent fewer deals week-on-week.

To get an even clearer picture, we can look at just the weekdays (Monday to Friday) to avoid the typical weekend data lulls. The five weekdays before the conflict saw Dhs20.41bn in activity, while the five weekdays after saw Dhs10.16bn. Essentially, the market’s “run-rate” cut in half almost immediately.

A stable structure: off-plan still leads

One of the most interesting findings in the recent data is that the “shape” of the market didn’t flip. Even with the geopolitical tension, off-plan properties continued to dominate.

In Week 9, off-plan made up 62.4 per cent of built-property value. In Week 10, that share actually grew slightly to 66.2 per cent. This suggests that investors haven’t abandoned long-term plays. Off-plan flats remain the core driver, making up about 78 per cent of all off-plan value in Week 10. The ready market followed a similar pattern, remaining largely apartment-led.

High-end resilience and mortgages

While overall sales cooled, the luxury end of the market proved it still has a pulse. On March 4, a single apartment at Aman Residences (Jumeirah Second) transacted for Dhs422m. Deals like this serve as a reminder that high-ticket liquidity hasn’t disappeared; the top end of the market tends to operate on its own logic, even during periods of caution.

Mortgage registrations also eased but stayed meaningful, representing about 19 per cent of the total market value in Week 10. These registrations remain heavily concentrated in the ready-property segment, where financing is most common.

The bottom line: A “risk-off” pause

It is important to keep the broader context in mind. Dubai entered this period in a position of extreme strength. Total market value in 2025 reached Dhs841.7bn (up from Dhs665.4bn in 2024), and January 2026 was nearly double the previous year.

The current data reflects a “risk-off” environment where buyers are exercising caution.

Activity is still clustering in familiar hubs like Dubai Marina, Palm Jumeirah, Burj Khalifa, and Business Bay.

In short: the market has slowed down, but it isn’t broken. The structural preference for off-plan and the occasional massive luxury transaction suggest that while the “run-rate” is lower for now, the fundamental interest in Dubai real estate remains intact.

• Ali Shahin is the founder of The Real Estate Report, an independent platform that dives into the data driving the property sector in the UAE. You can follow The Real Estate Report on substack or via its website.

The UAE is set to experience a mixed weather pattern this week, with periods of cloud cover, light rainfall in several regions, and strong winds that could affect maritime and outdoor operations, according to the National Center of Meteorology (NCM).

The NCM said conditions today will be partly cloudy to cloudy at times, with a chance of rainfall over some western and coastal areas as well as offshore islands. Winds will be light to moderate, freshening at times, while sea conditions will remain slight to moderate in the Arabian Gulf and slight in the Oman Sea.

On Tuesday, March 10, cloud cover is expected to continue with possible rainfall over western, coastal and eastern areas of the country. Temperatures are forecast to decrease slightly, particularly in western regions. Winds will blow northwesterly to northeasterly at speeds of 10–25 km/h, reaching up to 35 km/h. The sea will remain slight to moderate in the Arabian Gulf and slight in the Oman Sea.

By Wednesday, March 11, partly cloudy to cloudy conditions will persist, with a probability of light rainfall over some western, northern and eastern areas. Temperatures are expected to rise again during the day. Humidity levels will increase overnight and into Thursday morning across coastal and internal areas, raising the possibility of mist formation. Winds will remain northwesterly to northeasterly at 10–25 km/h, reaching 35 km/h, while the Arabian Gulf may see rough conditions at times early in the morning.

Weather conditions are expected to intensify slightly on Thursday, March 12, with moderate to fresh northwesterly to northeasterly winds strengthening over the sea. Wind speeds could reach 45 km/h, potentially causing blowing dust and sand across exposed areas. The sea will be rough in the Arabian Gulf before easing to moderate by evening, while conditions in the Oman Sea will range from moderate to rough at times. Light rainfall remains possible over islands and some coastal areas, alongside a decrease in temperatures.

On Friday, March 13, skies will remain partly cloudy to cloudy, with a probability of light rainfall over islands and some coastal and eastern areas. Winds will shift northeasterly to southeasterly at speeds of 10–20 km/h, reaching 35 km/h, while sea conditions will gradually ease to moderate to slight in the Arabian Gulf and remain slight in the Oman Sea.

The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.

Against the surging greenback, the euro and sterling were down roughly 1 per cent in Asia, while the Aussie dollar and even the safe-haven Swiss franc similarly tumbled, as the dollar proved king.

“The US dollar’s finding no shortage of support from traditional haven considerations and obviously, the US’ net energy exporter status in sharp contrast to most of Europe,” said Ray Attrill, head of FX strategy at National Australia Bank.

The broad market rout triggered indiscriminate selling across assets on Monday.

Stocks, bonds and precious metals slid as investors, spooked by the impact of surging oil prices on global inflation and economic growth, turned risk-averse and cashed in on some of their most profitable trades.

“The longer this goes on, the more exponential the damage becomes in a domino effect, which is exactly what oil is now showing to a market that saw some takes last week that things could be a lot worse,” said Michael Every, senior global strategist at Rabobank.

“If we are still in the same position this time next week, things could be quite terrifying.”

The euro last traded 0.9 per cent lower at $1.1517, having slid to a 3-1/2-month low earlier in the session, while sterling slid 1 per cent to $1.3294.

Against the Swiss franc, the dollar was up 0.75 per cent at 0.7817. The Australian and New Zealand dollars slid 0.77 per cent and 0.5 per cent, respectively.

Analysts have said Asia could bear the brunt of the energy price shock, due to the region’s heavy reliance on oil and gas from the Middle East.

The dollar was a whisker away from the 159 yen level in Asia, rising 0.55 per cent to 158.70, and it jumped 1 per cent against the South Korean won to 1,496.40.

“The real question is how high and how long prices stay elevated – because that’s what will ultimately determine the economic fallout,” said Deepali Bhargava, regional head of research for Asia-Pacific at ING.

“A prolonged conflict, coupled with continued currency weakness, would feed more directly into inflation pressures across the region.”

Iran on Monday named Mojtaba Khamenei to succeed his father as Supreme Leader, signaling that hardliners remain firmly in charge in Tehran a week into the war.

The conflict has already led to the suspension of around a fifth of global crude and natural gas supplies, as Tehran targets ships in the vital Strait of Hormuz between its shores and Oman, and attacks energy infrastructure across the region.

Qatar’s energy minister told the Financial Times on Friday he expects all Gulf energy producers to shut down exports within weeks, a move he said could drive oil to $150 a barrel.

High energy prices act like a tax and can also stoke inflation, leaving investors worried that central bankers may be reluctant to cut interest rates.

Surprisingly weak US jobs data on Friday briefly stalled dollar gains and raised expectations for US rate cuts, but that faded somewhat by Monday, with traders now pricing in less than 40 basis points worth of easing by the end of the year.