Latest News
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Early April, Russia increases oil exports through western ports despite drone attacks
Trading and port sources reported that Russia's crude exports increased in early April, compared to March. Calculations also showed this, despite the disruptions to loadings caused by drone attacks on energy infrastructure. In late March, Ukraine increased drone attacks against Russian oil export ports on the Baltic Sea, Black Sea, and major Russian refineries. This could lead to the state cutting its crude production due to disruptions in supply chains. Three trading sources and port sources reported that the Baltic ports of Primorsk, Ust-Luga and Novorossiisk loaded a total of about 2 million barrels of crude oil per day in the first seven days of April. This compares to a daily average of around 1.9 million barrels in March. Sources claim that Primorsk was the main source of the loadings. The city had been hit by a UAV attack late in March but resumed loadings soon after. After a drone strike on March 25, oil loadings were stopped at Ust-Luga. They resumed only?April 6 leaving very little oil at the beginning of the month. After a suspension of four days due to a drone strike, Russia's Black Sea Port?Novorossiisk re-started fuel and oil loadings at its Sheskharis terminal late Thursday. Sources said that a sudden increase in Primorsk loadings?in April and high export volumes from Novorossiisk in the first few days of the month before a drone strike have helped to offset the Black Sea exports halt. The Sheskharis Terminal was the target of a major drone attack in early March. This led to a five day halt on crude loading and delays with exports. (Reporting and Editing by Emelia Matarise Sithole)
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City Airlines strikes pay deal as Lufthansa strikes, disrupting tens thousands of passengers
Cabin crew from 'Lufthansa' and its regional unit Lufthansa CityLine went on strike for a full day, while Lufthansa City Airlines signed its first contract. The union UFO organized the industrial action, which will run from midnight to 10:00 pm (2000 GMT). Fraport, operator of Frankfurt Airport said on Friday morning that 580 flights had been cancelled. This affected 72,000 passengers, out of the 1,350 scheduled flights, and the 155,000 'passengers' expected for the day. Fraport said that the figures are for all airlines at the airport and not just Lufthansa. They may change throughout the day. CITY AIRLINES SHARPLY CONTRASTS WITH OTHER AIRLINES CityLine cabin staff walked out in nine airports, while the Lufthansa strike affected both Frankfurt and Munich, its major hubs. Jens Ritter, the brand chief of Lufthansa, criticized the strike as being "completely out of proportion." UFO negotiators claimed that escalation is inevitable due to the stalled talks. The walkout is in stark contrast to the developments at Lufthansa's newest subsidiary, City Airlines. There, Verdi, a rival union, secured the first collective wage agreement for 500 cabin and cockpit staff. Verdi stated that the deal reached last week after marathon talks will increase basic salaries between 20% and 35 % in three stages until March 2029. It also includes additional days off, more vacation, improved rostering, and expanded pension support. Impact of?Low-Cost Competition The differing?fortunes between the two subsidiaries are a reflection of a wider restructuring within the Lufthansa group. CityLine has historically handled short-haul flights and long-haul routes in Europe. CityLine's feeder operations will be transferred to City Airlines. City Airlines was founded in 2022 as an alternative cost-effective solution for the growing competition in Europe's Aviation Industry. CityLine staff are angry about the closure plan, as they fear losing their jobs and an uncertain future. (Reporting and writing by Klaus Lauer, Kirsti Knolle, Miranda Murray and David Holmes).
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Gains in UAE stocks ahead of US-Iran talks
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. Dubai's main stock market recovered from early losses to close 0.4% higher. This was aided by gains in financial and industrial stocks. Air Arabia, a low-cost carrier, jumped 4.8% while Emirates NBD Bank, the largest lender in the UAE, climbed 3.4%. Abu Dhabi's benchmark stock index rose 0.02%, boosted by gains of 4.1% in the hypermarket operator Lulu Retail Holdings and 3.9% in Dana Gas. The?index's gains were hampered by a decline of 3.1% in Aldar Properties, the UAE's largest real estate firm. Due to the Iran crisis, Dubai has limited foreign airlines to only one flight per day to its airports. This has caused Indian carriers to be concerned about revenue losses, as they had more flights planned than any other airline. According to LSEG, the Dubai index grew by 4.2%, its biggest weekly gain in over ten months. Abu Dhabi also posted a 2.5% weekly increase.
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Turkish Airlines replaces its CEO and Chairman, but withholds dividends citing geopolitical risk
Turkish Airlines underwent a major management revamp, replacing its CEO and Chairman, while also opting not to pay dividends from earnings in 2025, citing increased uncertainty across the operating environment, as well as geopolitical instability. Ahmet Olmustur has been named CEO of Turkey's airline following the retirement from Bilal Eksi, who was previously Chief Commercial Officer. Turkish Airlines announced to the Public Disclosure Platform that Murat Seker, the new chairman of the board who replaces Ahmet Bolat (who resigned), was named. Changes are being made as the aviation industry struggles with fuel prices that fluctuate, capacity constraints and persistent disruptions caused by conflicts in the Middle East. The board appointed Metin Gulsen as the 'chief financial officer'. Harun Basturk was previously a senior vice-president for regional sales and had been named senior vice-president of accounting. The airline announced in a separate statement that it would not distribute any dividends from its net profit of 2.65 billion dollars ($118.2 billion) for 2025. Instead, they will retain the earnings to conserve cash. The company stated that the decision was made because it believed that maintaining a solid cash position would better serve the long-term interest of shareholders given the current war in the Middle East and the uncertainty this brings. Turkish Airlines has been paying out dividends to its shareholders for the past few years. The last time Turkish Airlines did not pay a dividend was in 2023. In 2025, it approved a cash payout of?6.88 Lira ($0.1540), per share from its 2024 profits. Turkish Airlines shares rose 1.1%, while Turkey's BIST 100 index grew 1.37%
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Sources say that the Black Sea port of Novorossiysk has partially resumed oil and fuel loadings following a drone attack.
Two sources familiar with port operations said that Russia's Black Sea Port?of Novorossiysk?partially resumed oil and fuel loadings? from its Sheskharis Terminal?later?on Thursday? after this week's suspension due to a drone strike. Sheskharis, Russia's largest oil terminal with a capacity to load 700,000 barrels of crude oil per day, suspended oil loadings Monday following a Ukrainian drone attack that started fires in a fuel terminal and at some berths. Oil tanker loading resumed on one berth and only a single cargo of about 80,000 tons is expected to leave Friday. After the strikes, the oil loading schedule would?be trimmed?and it was not clear when the port's full operation could resume. Sources confirm that Novorossiysk resumed oil and fuel loadings as well on Thursday. One of the sources stated that a?diesel?load was also made from?the?port this week.
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German Minister rejects windfall taxes idea, pushes commuter tax breaks
The German economy minister proposed on Friday giving higher tax incentives to 'commuters' but rejected proposals from 'the junior coalition partner of the government for an energy windfall tax', bringing into the open a dispute about how to combat soaring fuel costs. Germany, Europe's biggest economy, was already suffering from a weak global growth rate and tariff disputes. The Iran War has caused the largest-ever disruption in global energy supply. The measures must be targeted. The measures must be targeted at the areas that are most affected. Katherina Reiche, Economy Minister, told reporters that commuters and the "logistics sector" are among them. Germany offers commuters tax breaks that are calibrated based on the distances they travel. They can deduct a portion of their driving costs between home and a primary work place from their taxable income. Reiche, highlighting tensions between the conservatives of Chancellor Friedrich Merz and the Social Democrats of Finance Minister Lars Klingbeil, branded Klingbeil’s proposals as "expensive" and "ineffective". Klingbeil proposed an energy windfall-tax, hoping to regain policy initiative after his party suffered painful losses at two regional elections in this year. Reiche stated that the proposal violated Germany's Constitution. She said: "I categorically oppose the windfall tax." Esra Limbacher, the Deputy leader of the Social Democrats' group in parliament, said Reiche wasn't fit for her position. Limbacher said to the Rheinische Post that it was regrettable that an economics minister viewed herself as representing the oil companies, instead of working together with her coalition partner to provide relief for many small businesses. Reiche, also the energy minister, has called for a temporary reduction in diesel taxes on trucks and more direct payments for people who travel long distances for work. Germany has already taken some measures. One of them is limiting petrol prices to one increase per day. (Reporting and editing by Matthias Williams, Christina Fincher and Kirsti Knolle)
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Ghana cuts fuel taxes as Iran war drives up prices
Ghana will remove certain fuel taxes and charges levied by retailers and distributors along the?supply?chain to cushion consumers?from the rising pump?prices caused by the?Middle?East Conflict, said government spokesperson Felix Kwakye Ofosu on Thursday. He said that the measures will be implemented within a week. However, the exact levies that are to be eliminated won't be determined until stakeholder consultations have been held in the next few days. Ghana imports 70% of its refined fuel. It is one of many African countries that have seen steep increases in pump prices as a result of the U.S./Israeli war against Iran. The National Petroleum Authority raised the mandatory minimum prices for the April 1-15 pricing window. This pushed petrol up by around 15%, to 13.30 Cedis ($1.21) a litre (0.26 U.S. gal), and diesel up by roughly 19%, to 17.10 Cedis ($1.55). In approximately one week, the government will consult with stakeholders ahead of the next "pricing window". We know the exact amount. Kwakye said that it would be significant. The suspension would be for the first four weeks and then the government would review. He said that the Iran conflict was the sole cause of the price increases. Transport Minister has been asked to expedite the deployment of Metro?Mass Buses along high-traffic routes, with fares that are lower than those charged by private operators. This will ease commuters' burden. Reporting by Emmanuel Bruce, Editing by Clement Bonnerot & Elaine Hardcastle
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Starmer and Trump discuss military options in the Strait of Hormuz
Keir Starmer, British Prime Minister, said on Friday that he had discussed military capabilities and logistics of moving ships through the Strait of Hormuz with U.S. president Donald Trump the day before. Starmer stated during his visit to the Gulf that "we've been pulling a coalition together of?countries... working on an?political, diplomatic plan... but also?looking into military capabilities and... the logistics of moving vessels through the Strait." "That was the main focus of last night's discussion - a reflection on the topics I have been discussing, as well as a focus on implementing a practical plan in relation to navigation across the Strait." He didn't provide any further details. Starmer didn't answer directly when asked if he had discussed the U.S. threat of a?withdrawal?from NATO, but he did say that the alliance was both in?the U.S. as well as Europe's interest. He said that NATO is a defensive alliance 'which has kept us safer than we otherwise would have been for decades.
As the Middle East conflict escalates, airlines cancel more flights
The global air travel industry is still severely affected by the Iran war, which forced the closures of major Middle Eastern hubs such as?Dubai and Doha, leaving tens thousands of passengers stranded.
The latest flight information is listed below alphabetically.
AEGEAN AIRLINES
The largest airline in Greece has cancelled flights to Tel Aviv and Baghdad. Dubai flights are cancelled until the 28th of March and Riyadh flights until March 14th.
AIR BALTIC
AirBaltic, a Latvian airline, said that all flights from and to Tel Aviv have been cancelled until March 28. AirBaltic has cancelled all flights from and to Dubai until March 16.
AIR CANADA
The Canadian carrier has cancelled all flights from Tel Aviv to Dubai and all flights from Dubai to Tel Aviv, until May 2.
AIR EUROPA
All flights from Spain to Tel Aviv have been cancelled until March 20.
AIR FRANCE KLM
Air France has canceled flights to Tel Aviv, Beirut and Dubai until March 15, and to Riyadh and Dubai until March 14.
KLM has suspended flights from Riyadh to Dammam until March 12 and Dubai flights until March 28. Flights to Tel Aviv have been suspended for the rest of winter.
CATHAY PACIFIC
Hong Kong Airlines has announced that it will cancel all flights from and to Dubai, and Riyadh up until the 31st of March.
The U.S. airline has cancelled flights between?New York and Tel Aviv from March 22 to March 23, as well as Tel Aviv-New York from March 22 to 23.
EL AL ISRAEL AIRLINES
El?AL regular flights and Sundor scheduled flights have been cancelled until March 14th.
EMIRATES
The UAE airline announced that it would be operating a reduced flight schedule.
ETIHAD AERWAYS
The UAE carrier announced that it has resumed limited commercial flights between Abu Dhabi, and a few key destinations.
FINNAIR
The Finnish airline has cancelled Doha flights and Dubai flights up until March 29, and will avoid the airspace of Iraq, Iran Syria and Israel. The airline will still send a flight to Muscat to take customers back home on March 10.
British Airways, owned by IAG, has cancelled all flights from Abu?Dhabi to Amman and Bahrain until the end of this year, and to Doha, Dubai, Tel Aviv and Doha until the end of this month. BA will also fly BA customers out of Muscat between March 9-12.
Iberia Express, IAG's low cost airline, has cancelled all flights between Tel Aviv and Tel Aviv until March 10.
ITA AIRWAYS
ITA Airways has extended the cancellations of flights to Dubai until March 15 and suspended flights from Tel Aviv until 2 April.
JAPAN AIRLINES
Japan Airlines has suspended all flights between Tokyo and Doha scheduled to run from 28 February until 21 March, as well as Doha-Tokyo flights up to 22 March.
All flights between Tel Aviv, Dubai and Riyadh have been cancelled by the Polish airline until 28 March. LOT has also cancelled flights from Riyadh to March 16, and from?Beirut to April 30,
LUFTHANSA GROUP
Flights to Tel Aviv were suspended through April 2, and flights to Beirut until March 28. Flights from Tehran to Amman were suspended until April 30, and flights to Erbil, Dammam and Dubai, Abu Dhabi and Dubai, Amman and Erbil to March 15.
MALAYSIA AIRLINES
Malaysian Airlines suspended all flights from Doha to March 13. The airline resumed its normal flights to and from Jeddah?and Madinah on March 8.
NORWEGIAN AIR
The airline plans to begin flying to Tel Aviv from June 15 instead of April 1, and to Beirut on April 4, as previously planned.
PEGASUS
Pegasus Airlines has cancelled all Iran flights and Riyadh flight until the end of March. Flights to Iraq, Amman Beirut Kuwait Bahrain Doha Dammam Dubai Abu Dhabi Sharjah and Amman are cancelled until 23 March.
QATAR AIRWAYS
The airline operates a limited flight schedule between Doha and other destinations. It plans to start operating some flights on March 9 following a temporary authorization from the Qatar Civil Aviation Authority.
SAUDIA AIRLINES
Saudia suspended Amman, Kuwait and Abu Dhabi flights until 10 March and?Moscow flights and Peshawar flights till 15 March. The airline has also started operating with a limited schedule in Dubai.
TURKISH AIRLINES
Turkish Transport Minister said that Turkish Airlines has removed Iran flights from its program until March 12. The Turkish transport minister said that Turkish Airlines had cancelled all flights to Iraq and Syria, Lebanon, Jordan, until March 13.
WIZZ AIR
The low-cost carrier suspended flights from Europe to Israel and other destinations in the Middle East until September. (Compiled by Josephine Mason and Jamie Freed; edited by Matt Scuffham, Milla Nissi, and Romolo tosiani)
(source: Reuters)