Iran news and archive

Global economic update: oil prices fall, stock markets reassured amid Middle East conflict

Paris, France – The latest global economic developments on Wednesday at approximately 8am GMT, as the war in the Middle East enters its 26th day. Oil prices fall Oil prices fell on Wednesday, with Brent dropping below 100 dollars, following Iran's announcement that it would unblock the Strait of Hormuz for ships deemed “non-hostile” and the...

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Business

Inditex faces results presentation with shares 'pressured' by Middle East crisis

Madrid – Inditex will present its full-year results for 2025 this Wednesday, March 11, covering the period from February 1, 2025, to January 31, 2026. The Spanish fashion multinational is expected to report record highs in sales and profits, despite the impact of fluctuating exchange rates. To provide context, Inditex closed its 2024 fiscal year...

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Business

Mapped: the impact of the West Asia crisis on global textile trade routes

The ongoing West Asia crisis has thrown open the extreme vulnerability of supply chains, including those of the garment and textile industry. FashionUnited has taken a look at why the Strait of Hormuz and the Bab-el-Mandeb Strait are such “jugular veins” of the textile trade between Asia and the West and what it means in terms of shipping times,...

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Business

European fashion stocks decline amidst Middle East conflict

Madrid – Major European fashion companies are holding their breath, waiting to see how markets and their shares will evolve following the outbreak of the new military conflict between the US and Israel against Iran. The war has unleashed instability in the Persian Gulf region. This has been fraught with uncertainty since last Saturday, which...

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Business

Value chains in jeopardy over Iran: Maersk diverts its vessels to the Cape of Good Hope

Madrid – Tensions are returning to global value chains following the military conflict that erupted this Saturday, February 28, in the Middle East. This follows coordinated attacks against Iran by the Israeli and US armies. The ayatollahs' regime has already responded to these hostilities, announcing an unpredictable escalation of the conflict....

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Retail

Inditex enters Iraq amid surging regional tensions

Madrid – Fate has seen the culmination of a major strategic goal for Spanish fashion giant Inditex coincide with one of the most volatile periods of instability in the Middle East. Despite the outbreak of military conflict between Iran and a coalition of the US and Israel, Inditex has officially entered Iraq—its 98th physical and 215th online...

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Business

Middle East tensions: What will be the impact on fashion’s supply chain?

As military tensions escalated between Israel and Iran, global trade held its breath. At the heart of concerns was the Strait of Hormuz, the strategic maritime corridor through which nearly one-third of the world's oil passes. If this passage were to be blocked or seriously disrupted, the repercussions would not be limited to energy markets. The...

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Fashion

Once banned, now back: Iran sees timid return of neckties

Mohammad Javad enters a fashionable shop in well-to-do north Tehran with his mother. For the first time ever he wants a necktie, long banned in Iran as a symbol of Western decadence. The 27-year-old dentist said he opted for this clothing accessory in hopes of looking his best during the first meeting with his future in-laws. "In our society,...

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Podcast

Podcast: Inside Iran’s Underground Fashion Industry, BoF Voices

The activist Hoda Katebi speaks passionately about the 'revolution' of fashion, while the Tehran design duo Shirin and Shiva Vaqar on the VOICES 2019 defy the restrictive conditions for emerging brands in Iran.