Chokepoint

Building enough clean power turns out to be the easy part of Germany's energy transition; making that power cheap, stable and financially viable is the harder one.

Washington offers $5 billion for Gulf energy repairs and Bahrain builds European trade through EuroCham, giving post-war commerce two separate foundations.

Houthi gains, Ethiopian turmoil and Italian warships have turned Bab al-Mandeb into Europe's second chokepoint crisis, with refugees and diesel bills at stake.

Russia's war in Ukraine keeps unsettling budgets, alliances and tempers across Europe, confirming how unevenly the continent shares its collective fear.

A city built partly to solve a housing shortage is now being sold to the world as a luxury destination too, and both promises have to hold at once.