For years, Gulf states such as the UAE, Saudi Arabia and Qatar have positioned themselves as stable economic hubs in an otherwise volatile region,  attracting global capital, businesses and talent. But the latest escalation involving Iran, the United States and Israel has brought missile strikes, disrupted air travel and attacks near key infrastructure, raising questions about whether that carefully built image of stability can hold.

So how significant is this shift, and what does it mean for the Gulf’s long-term economic ambitions and regional diplomacy?

Carl Skadian, Deputy Director, Middle-East Institute, NUS joins the Breakfast Show.