Middle East

After the 12-day war between Iran and Israel, which ended on Tuesday with a ceasefire brokered by the United States, many airline services are still disrupted throughout the Middle East. Safety concerns and airspace closures continue to impact airline traffic in this region. Here are a few airlines that have canceled flights from and to the region. AEGEAN AIRLINES The Greek airline has cancelled flights to Tel Aviv and Beirut as well as to Amman and Erbil until the early flight on September 8th. AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel all flights from and to...

Israel's attacks against Iran have caused international airlines to stop flights to certain Middle East destinations because of airspace closures and safety issues. The conflict has entered a new phase after the U.S. invasion on Iranian nuclear sites Some airlines have cancelled flights to hubs such as Dubai is Qatar's Doha. Here are some airlines that have canceled flights from and to the region. AIRBALTIC AirBaltic, a Latvian airline, announced that it had cancelled all flights from and to Tel Aviv up until September 30. AIR EUROPA Spanish airline cancels flights from and to Tel Aviv through July 31. AIR...

A senior State Department official stated on Tuesday that the United States had helped around 400 U.S. Citizens and others fly out of Israel amid conflict with Iran since Saturday. They hope to accommodate even more in the days to come. "We are very aware that there is still capacity and that U.S. citizens still want to leave Israel. The airspace has not been reliably opened. The official stated that the situation is "extremely dynamic". An official stated that the State Department now shares information with 27,000 people about safety and security in the region, as well as leaving it....

El Al Israel Airlines has announced that it is working to organize an airlift for tens and thousands of passengers who have been stranded in Israel due to widespread flight cancellations since the beginning of the Israel-Iran War on June 13. El Al, Israel’s flag carrier, announced that following a 12-day ceasefire, and the gradual opening up of Ben Gurion Airport in Tel Aviv, the airline would increase its schedule and use its entire fleet, and add thousands of additional seats within the next 24 hour. The airline, which cancelled all regular flights until June 27, said that it would...

Air India announced on Tuesday that it will resume flights between the East Coast of the U.S.A. and Canada at the "earliest opportunity", after several Middle Eastern countries temporarily closed their airspace, forcing airlines to cancel certain routes. Air India's spokesperson stated in a press release that "as airspaces slowly reopen in some parts of the Middle East", the airline will gradually resume flights in the region beginning Tuesday. The majority of operations in and out of the Middle East will resume on Wednesday. The flights to and from Europe that were previously cancelled will be gradually reinstated starting Tuesday....

The major Gulf stock markets advanced early on Tuesday, with risk appetite increasing after U.S. president Donald Trump announced that Iran and Israel agreed to a truce. Trump declared a ceasefire that could end the 12-day conflict which saw millions of people flee Tehran, and raised fears about further escalation. Saudi Arabia's benchmark stock index rose by 2.1%. The biggest contributors to this increase were Al Rajhi Bank, which saw a 1.9% gain and Saudi National Bank, the largest lender in Saudi Arabia. Flynas, a company recently listed on the stock exchange, soared by more than 7% and reached 79.80...

Turkish Airlines said it was holding non-binding talks to evaluate a possible investment in Spanish airline Air Europa, and explore potential partnership synergies. In a late Friday filing with the stock exchange, Turkish Airlines confirmed that it was considering a bid to acquire a minority stake of Air Europa. The flag carrier stated that it evaluates growth potentials regularly to improve its global position in the aviation sector. Media reports have stated that Turkish Airlines has been in talks to buy shares in Air Europa. In this context non-binding talks are being held in order to assess the potential investment...

Witnesses reported hearing explosions over Qatar's capital Doha, just hours after a Western diplomatic official said that there was a credible Iranian threat to the U.S. run al Udeid Air Base in the Gulf Arab State since noon. The diplomat's remarks came shortly after Qatar announced that it had temporarily closed its airspace to ensure the safety for residents and visitors. The U.S. Embassy in Qatar advised Americans earlier to shelter in place out of "overwhelming caution". Iran has threatened to retaliate after U.S. aircraft dropped 30,000 pound bunker busters on Iran's nuclear underground installations at the weekend. Meanwhile, President...

Israel's attacks against Iran have caused international airlines to stop flights to certain Middle East destinations because of airspace closures and safety issues. The conflict has entered a new phase after the U.S. invasion on Iranian nuclear sites Some airlines have cancelled flights to hubs such as Dubai is Qatar's Doha. Here are some airlines that have cancelled flights from and to the region. AIRBALTIC AirBaltic, a Latvian airline, announced that it had cancelled all flights from and to Tel Aviv up until September 30. AEROFLOT Aeroflot, a Russian airline, has announced that it has cancelled flights between Moscow &...

Israel's attacks against Iran prompted some international airlines to cancel flights to Middle East destinations because of airspace closures and safety concerns. The conflict has entered a new phase after the U.S. invasion on Iranian nuclear sites Some airlines have cancelled flights to hubs such as Dubai is Qatar's Doha. Here are some airlines that have canceled flights from and to the region. AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel all flights from and to Tel Aviv up until 30 September. AEROFLOT Aeroflot, a Russian airline, has announced that it has cancelled flights between Moscow &...

Commercial airlines in the United States and around the world were debating Monday how long they would suspend flights to the Middle East after the U.S. attacked Iran. Singapore Airlines, a major airline in Asia, called the situation "fluid", cancelling flights to Dubai after a security evaluation. Flight tracking website FlightRadar24 shows that there is no space in Iran, Iraq or Syria, and the Middle East route is now more important than ever for flights between Europe, Asia and Russia. Air France KLM announced on Sunday that they had cancelled all flights from and to Dubai and Riyadh for Sunday...

The Turkish transport and infrastructure ministry said that it hoped to conduct a 5G network tender in August. It also stated that mobile communication services were expected to begin next year. In an Istanbul press briefing, Minister Abdulkadir Uraloglu said: "I believe we will conduct this tender in August, if there aren't any issues." He added: "Instead covering the whole country in the first phase, I believe we will cover the densely-populated provinces (first), and roll out this gradual process within the program, as was the case with 4.5G." Uraloglu, when asked about the impact of the conflict between Israel...

LSEG data and two sources stated that the increase in Turkey's Urals crude imports is due to seasonal demand and healthy refinery margins. According to LSEG, the imports of Urals in Turkey will reach 1.64 million metric tonnes in May. This will be the highest level since May 2024 when the country imported 1,76 million tons. The second largest importer of Urals crude oil by sea is Turkey, after India. It has not complied with Western sanctions against Russia, but it does comply with international laws. Data shows that urals prices were below $60 per barrel at Russian ports during...

Careem, Uber’s ride-hailing division in the Middle East will suspend its Pakistani service on 18 July, citing economic issues, increasing competition, and capital restrictions. This marks an end to its core business, which was pioneered in Pakistan nearly a decade earlier. This move highlights the strains on Pakistan's digital industry as tech firms cut back due to high inflation, weak demand from consumers, and tighter capital flows. Careem's nearly 10-year run is over. The app was launched in 2015, and quickly became the dominant player in mobile apps. In a LinkedIn posting on Wednesday, Mudassir Shaikha, Careem's co-founder, CEO, and...

Japan's second-largest shipping company, Mitsui O.S.K. Takeshi Hashimoto, CEO of Lines (MOL), said that the company is continuing to operate as usual in Gulf while closely watching the situation in the area. Hashimoto said on the sidelines the Energy Asia Conference that "we are operating so many container, car carriers, and chemical tankers, so it is very difficult for us reduce or stop the service." He added that although there was no alternative route in the Gulf for shipping, it had been re-routed to the Cape of Good Hope following the attack by the Yemeni Houthis on ships in the...

Khnatsakh residents are anxious at nightfall. Locals claim that every evening, around 10 pm, Azerbaijani soldiers fire into the night skies from their positions high above. Villagers say that bullets have been hitting houses regularly, but no one has been injured so far. Azerbaijan has denied that its troops are firing across the border and accused Armenian forces of violating ceasefire. Karo Andranyan (66), a retired mechanic, said, "It is very tense at home because we have children, little ones and elderly." Azerbaijani flags and a military position on a hillside are only 100 metres away from his door. This...

Four traders who are active in the market stated on Friday that spot supply has tightened and reduced discounts for Russian Urals crude oil to be delivered to Indian ports by July. This is the lowest discount since 2022. Indian refiners are being pushed by tight supplies and narrowing discounts to look for alternative products through purchasing tenders. Sources said that spot discounts for Urals crude for cargoes arriving to India in July decreased to an average of $2.25 per barrel, compared to $2.70 to $3.10 a barrel for dated Brent delivered ex-ship basis the previous month. This is the...

Iraq's Oil Ministry said Thursday that it holds the Kurdish Regional Government (KRG), legally responsible for continuing to smuggle oil out of the Kurdish Region. It added that the ministry reserves the rights to take any legal action in this matter. The control of oil and gas is a long-standing source of tensions between Baghdad, Erbil and other Iraqi cities. Iraq is being pressured by the Organization of Petroleum Exporting Countries (OPEC) to reduce its output in order to compensate for producing more than the agreed-upon volume. OPEC counts the oil flowing from Kurdistan towards Iraq's quota. In a ruling...

The preliminary LSEG ship tracking data shows that U.S. liquefied gas exports dropped in May as a result of plant outages and repairs at the largest export facility. U.S. LNG production is a major factor in global LNG price. According to LSEG, the U.S. exports 8.9 million metric tonnes of LNG in May, down from a new record of 9.3 MT set in April. The LSEG data revealed that all U.S. plants had short periods in May when compared with April. Cheniere Energy confirmed its Sabine Pass facility, which is the largest in the country, at 30 MTPA. Since May...

The preliminary LSEG ship tracking data shows that the U.S. liquefied gas output dropped in May as a result of plant outages and repairs at the largest export facility. U.S. LNG production is a major factor in global LNG price. According to LSEG, the U.S. exports 8.9 million metric tonnes of LNG in May, down from a new record of 9.3 MT set in April. The LSEG data revealed that all U.S. plants had short periods in May when compared with April. Cheniere Energy confirmed its Sabine Pass facility, which is the largest in the country, at 30 MTPA. Since...

Calculations showed that the average daily supply of natural gas to Europe by Russian energy giant Gazprom via TurkStream's undersea pipe increased 10.3% from a year earlier in May, according to calculations released on Monday. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to renew a transit agreement with Moscow that expired in January. Based on data provided by the European gas transmission group Entsog, calculations showed that Russian gas exported via TurkStream rose from 41.7 million cubic metres per day to 46.0 mcm in May. This was down from the...

According to LSEG and shipping data cited from an industry source, Russia has increased its supplies of oil to Syria. Syria needs it for its refineries. Russia has considered Syria a major gateway for its military and commercial operations in the Middle East. The Kremlin announced in January that Moscow was in negotiations with Syria's newly islamist-led government to maintain its bases in the west. According to LSEG and a source, a tanker that was hit by U.S. sanction, Mitzel, has loaded 140,000 metric tonnes of Russian oil at the Arctic port Murmansk. It is now heading to Baniyas, which...

On Thursday, the Syrian government will sign an agreement with four companies to expand its electric grid by 5,000 Megawatts. This could double supply in a nation that has experienced severe power shortages for more than a decade. In most areas of Syria, electricity is only available for two to three hours per day. The government of President Ahmed al-Sharaa pledged that power would be increased in the country as soon as possible. According to an invitation sent out by Qatar's UCC Holding whose UCC Concession Investments unit will be the lead developer for the project, the deal launching Syria...

Fixed income news service IFR announced on Tuesday that Saudi oil giant Aramco had launched the sale a three-part dollar-denominated debt, with tranches maturing in five, ten, and thirty years. IFR reported that the oil giant set an indicative price of 115 basis points for the 5-year tranche, and the 10-year and 30 year tranches have initial price guidance at 130 bps and 182 bps, respectively, over U.S. Treasuries. The price is expected to be set later on Tuesday, and the deal will be a benchmark size. This is usually at least $500m. Citi, Goldman Sachs International and JPMorgan lead...