Dubai wants to bypass Strait of Hormuz

Ukraine received the go-ahead to buy Chinese drone parts with EU funds, the United Arab Emirates is trying to build a port that will bypass the Strait of Hormuz, and American small-cap companies are soaring after years of underperformance. Plus, the FT’s Michael Pooler explains how Brazil’s instant payment system ended up at the centre of a new US tariff threat.

Mentioned in this podcast:

Ukraine to buy Chinese drone parts with EU funds

US to resume Strait of Hormuz blockade and charge fees on ships, Trump says

Dubai plans new port to bypass Strait of Hormuz

Brazil rallies to defend much-loved payment system from Donald Trump’s attack

US small caps soar as investors look beyond big tech

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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

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