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Iranian sources claim that Mojtaba, Khamenei’s son, is still alive and has a good chance of succeeding him.
Two Iranian sources said on Wednesday that Mojtaba Khamenei is still alive and has a good chance of becoming the successor to his father, Ali Khamenei. As 'new explosions' shook the city of Tehran, huge crowds were expected to fill the streets on Wednesday evening in mourning for the elder Khamenei (86), who was killed by Israeli forces as part of the 'first assassination by airstrike of a country’s top leader. Israel and the United States continued their assaults against Iran around the clock on Wednesday, in a "campaign" that the top U.S. general said was ahead of the game plan. Investors were not convinced by Donald Trump's promises to reopen the most important shipping route in the world and release Middle East oil and natural gas that had been blocked. Two Iranian sources who spoke on condition of anonymity said that Mojtaba (56), was not present in Tehran when the attack destroyed the compound of the leader and killed his wife, another child, and several senior military and leadership figures. Iran announced that the Assembly of Experts, which will select the next leader, will announce their decision soon. This is only the second occasion since the Islamic Republic was founded in 1979. "The Supreme leader will be identified at the earliest opportunity. We are nearing a conclusion." Ayatollah Ahmed Khatami, a member of the Assembly, told state TV that the situation in Iran is one of war. He claimed that the candidates were already?identified, but did not identify them. Israel has said that it will hunt down the chosen. Israel Katz, the Minister of Defence, said that "every leader nominated by the Iranian terror régime to continue and lead their plan to destroy Israel and to threaten the United States, the free world, and countries in the region -- and to suppress the Iranian population -- will be a clear target for elimination." "It doesn't matter where or what his name is." Israel has said that its forces have been hitting targets in Iran for the fifth consecutive day. A Yak-130 Iranian aircraft was shot down by an Israeli F-35 fighter over Tehran. This is believed to be first time that the new generation F-35 has taken out a manned aircraft during combat. The body of Khamenei will lie in state at the prayer hall The body of Khamenei, the founder of Islamic Republic and predecessor of Khamenei, Ruhollah Khomeini, will lie in state on Wednesday night at the Imam Khomeini Prayer Hall of Tehran. Hassan, Khomeini’s grandson, is also considered a possible candidate for supreme leadership. He represents the reformist wing, which was suppressed by Khamenei. Mojtaba is the obvious favourite. He ascended to power as a senior security figure under his father and has a vast business empire that they control. It would be a sign that the hardliners are still in control if he was chosen. Some Iranians openly celebrate the death of Khamenei. His security forces had killed thousands of antigovernment demonstrators just weeks before, in the largest domestic unrest since era of revolution. Iranians who are angry at the government say that there is unlikely to be any protests while bombs continue to fall. "We have no place to go to protect us from strikes. How can we protest?" Farah, 45 said on the phone from Tehran. The Revolutionary Guards, the Basiji militia and other groups "are everywhere." They will kill us. He said: "I hate this regime but I must first think about my children's safety." Iran continued to launch attacks against Israel and Arab Gulf States that host U.S. base despite initial U.S. hopes for a quick and decisive removal of Tehran's clerical leaders. Admiral Brad Cooper is the head of Central Command and the commander of the U.S. military campaign. He said that 50,000 troops, 200 aircraft carriers, and 200 jets were engaged in "24/7 attacks on Iran from the seabed to cyberspace and space", with more assets coming. 'SHOOTING WHY WE CAN BE SHOT' Cooper said in a video released Tuesday evening that Iran's air defenses were badly degraded. Its navy was without operational vessels along important waterways, after 17 of its vessels had been sunk. And more than 2,000 Iranian target had been struck, Cooper stated. He said, "My assessment of the overall operation is that we're ahead of schedule." "In plain English, we are focused on shooting anything that can shoot us." Air-raid sirens in Israel sounded warnings, and buildings began to shake as Iranian missiles intercepted. The price of oil rose on Wednesday after Iran attacked ships and energy installations, closing the Strait of Hormuz where a quarter of the world’s oil and natural gas is shipped. Scores of vessels have stopped in the Gulf. Qatar, one of the world's largest LNG producers, shut down its production. Iraq has reduced its oil production. The Revolutionary Guards warned vessels on Wednesday not to pass through the Strait, according to the semi-official Fars News Agency. Trump said that the U.S. Navy would be able to escort oil tankers across the Strait, if needed. Shipowners and analysts, however, are unsure whether this would be sufficient to curb rising oil prices or if the U.S. could spare vessels for such a task without exposing them as targets of attack. Trump faces political fallout in the event that energy prices continue to rise, as his Republican Party attempts to retain control in the November congressional midterm elections.
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Middle East conflict forces governments to consider repatriation
Due to the conflict escalating after U.S., Israeli and other strikes on Iran there have been a number of commercial flights grounded across the Middle East. This has left foreigners stranded and prompted governments to consider repatriation. Below, you will find a list of what officials and governments have said in relation to repatriation. AUSTRALIA Foreign Minister Penny Wong stated that Australia is in talks with airlines to assist Australians who are stranded within the Middle East. However, evacuations will be difficult as much of the airspace in the region remains closed. She stated that approximately 115,000 Australians were in the area and the best option would be to bring people back home once commercial airline services resume. Wong refused to confirm if the government was planning any repatriation flights. "The airspace is closed. "So whether it's an Australian flight or commercial flight, flights cannot take place," she said. AUSTRIA Austria's Foreign Ministry said that it has assisted 117 citizens who were vulnerable to leave the UAE or Israel via neighbouring countries. It is planning a charter flight for 170 passengers from Muscat tomorrow, but warned that travellers would do so at their own risk. BELGIUM On Tuesday, Belgium announced that it would send military aircraft to the Middle East in order to bring back Belgian civilians. BULGARIA According to NOVA TV, the Bulgarian foreign minister announced that the first evacuation flight for citizens stranded outside of the UAE and Oman would take place on Wednesday. The first flight will include 300 people from Oman. FRANCE Several repatriation flight for French citizens, of which around 400,000 are in the area, was planned for Wednesday, according to France's foreign minister. France has deployed consular teams to Israel's border with Egypt and Jordan in order to facilitate the land exit so that people can continue their journey by air. A similar mechanism has been implemented in the UAE, at the borders with Oman, Saudi Arabia and Oman, where there is no restriction on airspace. GERMANY Berlin plans to charter two Lufthansa flight, one from Riyadh, and another from Muscat to transport citizens who are particularly vulnerable, such as children and pregnant women, or people with disabilities. TUI, a tour operator, said that it is working on returning thousands of cruise passengers. Initial groups are flying home with Gulf carriers such as Emirates, Etihad, and Qatar Airways. GREECE Aegean Airlines, which was requested by Oman's foreign ministry to fly Greek nationals back to Greece, will land in Athens Wednesday afternoon. Prime Minister KyriakosMitsotakis stated that Greece has a plan for repatriating thousands of its citizens stranded across the Middle East. HUNGARY Hungary's Foreign Minister said that repatriation flight from Amman - and Sharm el Sheikh will operate on Wednesday and Friday, with each aircraft able to carry up to 90 passengers. Video reports show that a first charter flight, carrying 127 Italians stranded or relocated from Dubai to Oman, landed at Rome's Fiumicino Airport late Monday night, March 2. The Italian Embassy is credited by passengers who arrive in Rome for helping them to return. One passenger estimated the cost of the flight at around 1,500 euros. PHILIPPINES The President Ferdinand Marcos Jr. called on Filipinos living in Israel and other countries affected by the earthquake to leave for safety. He said that the government would organize repatriation flights as soon as it felt safe to do so. Marcos stated that more than 2.4 millions Filipinos work and live in the Middle East. This includes 31,000 Filipinos in Israel and 800 Iranians. More than 1,000 of these migrant workers requested to be repatriated. ROMANIA The Romanian foreign ministry announced that?more 300 citizens returned home on Monday from Cairo after traveling overland to Israel. More than 3,000 requests for repatriation have been received and there are approximately 16,000 Romanians in the region. SERBIA Air Serbia's flight from Sharm el-Sheikh landed early in the morning on Wednesday with 67 passengers evacuated from Israel. SLOVENIA The prime minister's statement said that on Tuesday, four buses were organized by Slovenia to transport Slovenian citizens, families and children from Dubai airport to Muscat Airport in Oman. Two more flights are scheduled for Wednesday afternoon and evening. SPAIN Spain began evacuating their citizens from the Middle East on Tuesday, said Foreign Minister Jose Manuel Albares. On Tuesday night, more than 175 Spanish citizens arrived in Abu Dhabi via Istanbul. Albares said that Spain would also reinforce its embassies located in the UAE and Saudi Arabia as well as Oman and Bahrain, to support and facilitate future repatriations. UNITED ARAB EMIRATES State news agency WAM reports that the UAE civil aviation authority will start operating "special flights", across the country's various airports, to assist some of the tens and thousands of passengers stuck in the region. UNITED KINGDOM The British Foreign Office announced that British chartered flight will depart Oman on Thursday morning and Wednesday evening, giving priority to vulnerable UK citizens who want to leave the area. Announced: Limited or no government evacuations The Dutch government has no immediate plans to repatriate 93 Dutch citizens and several Belgian and Luxembourgers who were on a KLM flight that landed early Wednesday morning at Amsterdam Schiphol Airport. Switzerland announced that it will not be organizing evacuations for 4,400 travellers and 35, 000 residents of the region. The U.S. State Department advised Americans to immediately leave more than 12 Middle Eastern countries using commercial options. They also encouraged travellers to enroll in the Smart Traveler Enrollment Program.
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Cyprus cancels alert after suspicious object is spotted near Lebanon
Cyprus reported that a suspicious object was detected near the Lebanese airspace on Wednesday. A?government?source said two Greek F-16 fighters were scrambled in order to intercept it. The alert was cancelled more than an hours later. The incident for which there was information relevant has been investigated, and is considered closed. The authorities are constantly monitoring the situation and are taking all necessary measures within the established framework. There are no further details available at this time. The government source stated that two aircraft were diverted from landing at the Larnaca Airport in Cyprus while the jets were scrambled. This incident occurred after an Iranian drone struck a British Royal Air Force base in Akrotiri, Cyprus, on Monday. The U.S. and Israeli air war on Iran continued. Cyprus intercepted two more drones later that day. Officials in Cyprus said that they believed the drones fired on Monday by Hezbollah, which is backed by Iran. (Written by Michele Kambas, edited by Alison Williams and Timothy Heritage).
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Kremlin: Putin will discuss "Ukrainian blackmail" with Szijjarto.
The Kremlin announced that Vladimir Putin, Russian president, will meet with Peter Szijjarto, Hungarian foreign minister later on Wednesday to discuss Ukraine's "blackmailing of Slovakia and Hungary" over oil supplies. Kyiv said the Ukrainian branch Druzhba Oil Pipeline, which supplies Russian Oil?to Hungary & Slovakia, had been severely damaged by fire after a Russian attack on late January. It cannot be repaired quickly. Hungary and Slovakia both accuse Ukraine of deliberately delaying repairs out of political motives. Ukraine has been 'unhappy for a long time that they continue to buy Russian oil. Kremlin spokesperson Dmitry Peskov confirmed that Putin will discuss the issue with Szijjarto later on Wednesday. Szijjarto is a frequent Moscow visitor. You know the buyers of our oil like Hungary and Slovakia who are currently?facing?blackmail from the Kyiv government. The blackmail is a result of the intentional blocking of oil supplies through the Druzhba pipeline. Peskov said that this issue will be discussed today. On the same conference call, he told reporters that other European countries had not asked Russia to resume energy supply due to the Iranian situation. (Reporting and editing by Andrew Osborn. Anastasia Lyrchikova)
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Dassault CEO: FCAS fighter is 'dead if Airbus doesn't cooperate'
The head of French aircraft manufacturer Dassault Aviation said that he was aware of Airbus' refusal to collaborate with it on the next-generation fighter, and that "the FCAS project" would be dead unless this attitude changed. The aerospace industry is reportedly preparing to 'collapse' plans for the next phase in a development worth 100 billion euros ($116 billion), between France represented by Dassault and Germany and Spain represented by Airbus. "Airbus does not want to work with Dassault. End of story." Trappier said at a press conference: "I take note." Airbus declined ?to comment. The dispute is over the leadership of the core part of the project, which aims to build an interconnected flotilla consisting of crewed aircraft and armed drones under a single connective cloud. Trappier has proposed changes to the rules for the flying demonstration phase, which would clarify Dassault’s leadership in the core fighter and suppliers, while giving Airbus control over its own areas. Trappier was repeatedly asked about the fate of the 'flagship Franco-German project' at a results presentation. He defended France for its record of producing high-performance fighters such as the Rafale and accused Airbus of wanting to create a cumbersome Eurofighter partnership. Trappier, speaking of the crewed fighter element, said: "I've?said?from?the?start that I want clear?leadership and not only on paper." Airbus says that existing rules should be adhered to. Airbus CEO Guillaume Faury said last month that the relationship between Dassault and Airbus had not 'broken down completely', but appeared to 'turn the page on FCAS in its present form, raising for the first public time the possibility of having two separate fighters.
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Kenya Pipeline IPO gets 105.7% subscription, finance minister says
John Mbadi, the Finance Minister, said that Kenya Pipeline's Initial Public Offer (IPO) received a 105.7% subscriber rate. Mbadi stated that Kenyan individuals and institutions will receive 67.32% of the shares offered from this sale. The IPO was'shadowed' by lower valuations from?some banks and an extension of the offer. The government offered a 65% share in Kenya Pipeline Company in order to raise 824.67 million dollars. This is the first major deal in the region since 2008 when shares in Safaricom were sold, which raised more money in dollar terms. Mbadi said on Wednesday that the government will only accept what it has hoped to raise. The Nairobi bourse will begin trading the shares listed in this IPO on?March 9?.
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Dassault Aviation sees an increase in sales and operating profit by 2026.
Dassault Aerospace, a French company, announced on Wednesday that its operating profit would rise to '635 million euro ($737.4million) in 2025 from just '519 million euro a year ago. This was due to an increase of 19% in net sales up to 7.4 billion Euros. The maker of Rafale and Falcon business aircrafts released a statement in which they predicted that net sales would increase to 8.5 billion euro in 2026 and 28 Rafale and 40 Falcon jets would be delivered. Dassault reported earlier that Rafale deliveries increased to 26 from 21 in 2025, and Falcon deliveries rose to 37 units from?31. However, this was still short of the target of '40. The planemaker has received orders for 26 Rafale in 2025 and 31 Falcons. Dassault Aviation shares were up 1.7% at the opening of Paris trading. This was a significant improvement over the STOXX 600, which had remained unchanged. The stock is up 22% so far this year and has extended a rally that saw a 71% increase in 2025. "The military and geopolitical contexts, combined with tariffs, create uncertainty in business activities." In a recent statement, CEO Eric Trappier stated that "tax pressures are eroding our company's competitiveness". Trappier has flagged that there is still uncertainty surrounding the Future Combat Air System (FCAS), a troubled fighter jet project. Dassault Aviation's and Airbus's rivalry over the leadership of this 100 billion euro project, which brings together France, Germany?and Spain?is threatening to undermine it.
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Russian drone strikes empty passenger train in Ukraine’s south, deputy PM claims
Oleksiy Kuleba, deputy prime minister, said that a Russian drone struck a passenger train which was empty in the southern Mykolaiv area of Ukraine early on Wednesday morning. He said that a Russian drone was also attempting to attack a train between Dnipro in the eastern-central region and Kovel, which is located in the northwest late on Tuesday. However, the attack was stopped by railway workers. The drone was only a few metres away from the locomotive. Ukrzaliznytsia (Ukrainian?national railroads) said that Russia intensified drone strikes on railway infrastructure and that rolling stocks were among the main targets. The operator reported that 18 strikes were recorded since March began, resulting in the damage of 41 facilities. The operator reported that locomotives, freight cars, specialised equipment used to repair infrastructure, and bridges were also targeted. On Monday, a Russian drone attacked a commuter train in Dnipropetrovsk Region. The attack killed one person and injured seven others.
UAE markets slide after reopening from a two-day stop during Iranian attacks
The stock markets in Dubai and Abu Dhabi reopened on Wednesday after a two day pause following Iran's unprecedented missile and drone attacks against the Gulf?nation.
U.S. troops continued non-stop operations against Iran, as Israel launched wide-ranging attacks on Iranian missile and air-defense targets; a U.S. commanding officer said that the campaign was running ahead of schedule.
The UAE Capital Markets Authority shut down the ADX on March 2, and DFM March 3. This was a step that went beyond usual closures for holidays and mourning.
The combined market cap of both exchanges is approximately $1.1 trillion.
The trading of billions of dollars worth of listed assets was frozen as investors waited for clarity about the extent of the damage caused by the weekend strikes in airports, ports, and residential areas of both emirates.
Dubai's main stock index fell 4.7% intraday, its largest drop since May 2022. Blue-chip developer Emaar Properties led the declines with a 4.9% fall, while budget airline Air Arabia declined 5%.
The tourism industry and airlines rushed to react to the more than 20,000 flight cancellations. Governments also moved quickly to repatriate travelers stranded across the Middle East.
Top lender Emirates NBD dropped 5%.
First Abu Dhabi Bank, Abu Dhabi's largest lender, lost 5%. Dana Gas, TAQA and other energy stocks were each down 5%.
Aldar Properties fell 5%.
ADNOC, which is the parent company for the entire fuel distribution, logistics and drilling chain, came under pressure. The entire complex was sold at the same time.
Both exchanges announced that they will temporarily lower the price limit of securities to -5%.
The Abu Dhabi Securities Exchange has instructed listed companies to assess their?financial exposure and operational risk and immediately disclose any material information which could influence investor decision.
Abu Dhabi Commercial Bank plunged 4.9%. Abu Dhabi Commercial Bank, the UAE's third largest lender in terms of assets, said that it had restored its mobile app following a disruption which also affected its contact center. However, some features are still being reinstated.
Ahmad Assiri is a research analyst at Pepperstone. He said that the closure sent a message to investors that regulators prefer orderly price discovery rather than a volatility rollercoaster.
As markets re-price global and regional events from the past two days, traders should be prepared for a volatile phase of price discovery. Assiri said that volumes may be higher than average, as pent up orders "hit the tape".
Assiri stated that the UAE's reopening will follow a similar pattern to the Saudi market, which has recovered from the initial shock of a 5% drop on Sunday to record gains by Tuesday.
Saudi Arabia's benchmark?index?rose 1% on course to continue the previous session's gain, led by an increased of 0.9% Al Rajhi Bank, 3%, while petrochemical manufacturer?Saudi Basic Industries Corp. trimmed early gains to trade at 1.2%. However, the company is expected to suffer a massive loss in 2025.
This result was due primarily to impairments and loss relating to divestment assets in Europe and America.
Jabal Omar Development, which operates the Jabal Omar hotel and property complex within walking distance from the Grand Mosque of the Muslim holy city of Mecca, has advanced by about 5% following a sharp rise in its annual profit.
Budget airline Flynas grew by 2.1%.
However, oil major Saudi Aramco fell 0.7%. Oil prices rose 3% after the U.S. and Israeli war against?Iran disrupted Middle East supply. However, the pace of 'gains' slowed compared to previous sessions as President Donald Trump suggested that the U.S. -Navy could escort ships through the Strait of Hormuz.
Qatar Islamic Bank, a company that has risen by 1.1%, boosted the index in Qatar by 0.6%. Industries Qatar, however, fell by 1.3% after the petrochemical manufacturer announced plans to suspend or cut certain products.
The index in Muscat fell by 0.7%, while the index in Bahrain was down by 0.8%. The Kuwaiti index eased 0.2%.
Egypt's blue chip index fell 1.6% outside the Gulf. (Reporting and editing by Ateeq Sharif in Bengaluru, Clarence Fernandez, Toby Chopra and Sumana Nady)
(source: Reuters)