North Africa

Saudi Arabia's Riyadh Air, a new airline in Saudi Arabia, launched its first London flight on Wednesday using its new Boeing fleet. CEO Tony Douglas played down the impact of Iran conflict saying that the startup would benefit if travellers avoided other parts of Gulf. As the aviation industry struggles to cope with the impact of war in the Middle East, and rising jet fuel prices, the state-backed carrier has launched its first service from London Heathrow using one of its Boeing 787 Dreamliners. Douglas claimed that Riyadh Air’s smaller fleet offered some protection from the crisis. Douglas said, "I...

The major Gulf stock exchanges declined on Monday morning amid signs that U.S. Iran talks have stalled. This has effectively closed the Strait of Hormuz. U.S. president Donald 'Trump' dismissed Iran's response on Sunday to the U.S. proposal for peace talks that aim to end the war. He called Tehran's requests "totally inacceptable." Iranian media reported that Tehran's proposal included a comprehensive ending to the war, a lifting of sanctions, compensation, and recognition of the control it has over the Strait. Since the beginning of the war in late February, Iran has effectively blocked the Strait. This has disrupted a...

Stock markets in 'the Gulf' fell on Tuesday morning, after fresh attacks from Iran and the United States deepened the battle for the Strait of Hormuz. This was a key global energy chokepoint. Washington wants to reopen Strait of Hormuz in order to relieve the strain on the global energy supply after Iran closed the passage after the U.S.-Israel war began on February 28, 2008. The UAE has confirmed that there have been Iranian missile and drone attacks in the UAE. One of these strikes allegedly caused a fire to break out at the main oil port, Fujairah. Fujairah was...

The major stock markets in the Gulf were?mixed? on Wednesday as caution?over?the continued closure of?the Strait?of?Hormuz offset?U.S. Trump's decision to extend the ceasefire indefinitely with Iran was a major factor. Trump announced on Tuesday that he will extend the ceasefire in order to facilitate further peace talks with the aim of ending the war, which has claimed thousands of lives and shaken the global economy. The U.S. Navy maintained its blockade on Iran's coastline and ports, which Tehran called an act of warfare. The Strait of Hormuz, which is responsible for around 20% of global oil and gas supplies, was...

Early trade in the UAE on Monday was a decline as concerns grew that the 'ceasefire' between Washington and Tehran might unravel after the U.S. seizes an Iranian cargo vessel, while traffic through the Strait of Hormuz remains largely suspended. The prospects for peace in the Middle East have been further dimmed by reports in Iranian state media that Tehran has'rejected' new talks and will not participate in a second round of negotiations which the U.S. hoped to convene before Tuesday's ceasefire expired. They cited the continuing blockade, the threatening rhetoric and the United States'shifting positions' and 'excessive requests'. Dubai's...

EasyJet, a British airline, said that its bookings were?lagging behind last year's figures. Lufthansa in Germany was the first major airline to ground aircraft due to high fuel prices as airlines accounted for the cost of the Iran War. Investors have warned easyJet that it may need to revise its outlook for the entire year, as uncertainty about jet fuel supplies, and the impact of war, could lead to other revisions. Wizz Air announced that its net profit would be cut by 50 million euros ($59 million). Air France-KLM will report its first quarter results on April 30 after adding...

Investors weighed the growing optimism about a possible agreement to end the 'Iran war', backed by increasing U.S. sanctions on Tehran ahead of future talks. U.S. president Donald 'Trump' said that the war he launched with Israel in late February is nearly over. This was despite the fact that the shipping blockade announced by him had come into effect, and the traffic through the Strait of Hormuz was still far below normal. Washington warned that it may impose secondary sanctions against buyers of Iranian crude oil in advance of future negotiations, only weeks after easing some Iran energy sanctions. After...

Investors are encouraged by optimism over renewed U.S. - Iran?peace negotiations. The United States announced on Wednesday that it had completely halted all sea traffic to and from Iran despite President Donald Trump's suggestion that negotiations to end the conflict could resume this week. Trump stated that U.S. officials and Iranian officials could meet again within the next couple of days in Pakistan, while Vice President JDVance expressed his optimism about the current state of the talks, even though the discussions last weekend ended without a breakthrough. Both officials in Pakistan and Iran have also said that the talks could...

Early trading in the United Arab Emirates on Wednesday saw the stock markets?build on the gains of the previous session?as optimism about renewed U.S. - Iran peace talks boosts investor sentiment. Even though Donald Trump said that negotiations to end the war with Tehran could resume this week, the United States announced on Wednesday that it had halted all sea traffic to and from Iran. Trump stated that U.S. officials and Iranian officials may meet again in Pakistan within two days. Vice President JDVance expressed his optimism about the current state of talks, despite the fact that last weekend's discussions...

The majority of major Gulf stock markets fell on Monday morning after Washington announced that it would block traffic into and out of Iranian ports, following weekend talks which?failed? to reach an agreement to end the conflict. The U.S. action, which is aimed at increasing pressure on Iran leaves a fragile truce in the balance. U.S. Central Command announced that U.S. Forces would begin blocking all maritime traffic entering or leaving Iranian ports as early as 10 am. ET (1400 GMT), on Monday. Dubai's main share index fell 1.8%. This was due to a drop of 3.2% in the top...

The stock markets of the United Arab Emirates fell in early trading on Monday after Washington announced a blockade against?traffic into and out of Iranian ports, following the failure of a weekend 'talks' with Tehran to reach a settlement to the conflict. The talks in Islamabad were the first direct U.S. - Iranian meeting in over a decade. They followed a six-week ceasefire that saw thousands of people killed, energy supplies disrupted, and fears of a larger regional conflict heightened. The U.S. Central Command announced that the blockade will begin at 10 am ET (1400 GMT). ET (1400 GMT) will...

As U.S.-Iran talks begin in Pakistan, and Israel is seeking to talk with Lebanon, the equity markets of the United Arab Emirates rose a little on Friday. This raised hopes for an easing of Middle East tensions and a reduction of the risk of disruptions in the Strait of Hormuz. On Saturday, delegates from Washington and Tehran will hold talks in Pakistan. Benjamin Netanyahu, Israeli Prime Minister, said on Thursday that he was'seeking direct discussions with Beirut. A day after the worst bombing of the war in Lebanon killed more than 300 and put Donald?Trump’s U.S. Iran ceasefire at risk....