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Gulf stock exchanges rise on optimism about US-Iran Peace Talks
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 be restarted soon. Dubai's main stock index rose 1.7%. This was boosted by the 1.6% increase in Emaar Properties, a blue-chip developer. Air Arabia, a budget airline, has risen by 3.4%. Aldar Properties grew 1% in Abu Dhabi. Saudi Arabian?Mining Company traded 1.7% higher, while the benchmark index rose 0.4%. Saudi Aramco, the oil giant, also rose 0.2%. Brent crude futures rose 1% to $95.77 per barrel after falling nearly 5% over night to below $100. Separately the International Monetary Fund said on Tuesday that the growth in the Middle East will be sharply slowed this year due to the fallout of the Iran War. The?Qatari Index rose 0.4% led by a rise of 0.7% in the Gulf's largest lender, Qatar?National Bank. Majed al-Ansari, a spokesperson for the Gulf state, denied that there were 'any talks' with Iran about?payments aimed at halting attacks. Instead, the Gulf state said its demands had been conveyed to Pakistan and America, instead.
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Magyar, a Magyar from Hungary, will meet with MOL's leadership to discuss fuel supply
Peter Magyar, Hungary's acclaimed election winner, said that he will need to speak with the leaders of oil company MOL in order to ensure fuel security. The centre-right TISZA party (Respect and Freedom), led by Magyars, won a landslide victory at Sunday's elections. This ended the 16-year reign of nationalist Prime Minister Viktor Orban. Orban set a price cap for fuel in early March as the global prices of diesel and petrol rose due to a rise in oil prices fueled by the conflict with Iran. The government of Hungary also prohibited the export of crude, diesel and 95-octane gasoline and announced that it would release 45-days worth of fuel reserves. This was in response to a stoppage of supplies via a pipeline transporting Russian oil through Ukraine. The Hungarian Hydrocarbon Stockpiling association reported that Hungary's strategic oil reserves and oil products had fallen to 44 days net imports at the end of March from 91 days in February. The association announced on Tuesday that replenishment is 'underway' and reserves have since increased to 53 days net imports. The European Union requires that member states maintain 90 days net imports. Magyar stated that the acting government had a great responsibility to do something in the next 20-30 day's regarding the strategic oil reserve. "Everyone is hoping that the Druzhba Pipeline can restart by April's end, but even then it will take time to replenish strategic reserves." "The TISZA government must ensure that the security of supply is maintained in the coming weeks, under the outgoing administration. MOL responded to an emailed question on Tuesday by saying that the crude oil supply was unaffected as the oil was still coming through the Adriatic pipeline, even though the Druzhba Pipeline was still closed. We have reached agreements for deliveries with companies in the United States, following agreements with Libyan, Kazakhstani, Norwegian, and Saudi Arabian companies. MOL reported that the Danube Refinery was operating at a reduced capacity as a result of a fire which occurred in one of its units last October. Fuel supply in Hungary is uninterrupted. Reporting by Krisztina than and Anita Komuves, Editing by Andrew Heavens & Louise Heavens
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UAE stock exchanges rise on optimism about US-Iran Peace Talks
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 were unsuccessful. Dubai's main stock index rose 1.6%. This was boosted by a 2.7% increase in Emaar Properties, the blue-chip developer. Air Arabia, a budget airline, jumped by 3.1%. Aldar Properties grew 2.9% in Abu Dhabi. Reporting by Ateeq Sharif in Bengaluru, Editing by Neil Fullick
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Overnight, Russia launched more than 300 drones and missiles against Ukraine
Ukraine officials reported that Russia had attacked Ukraine with drones and ballistic missiles overnight, targeting port infrastructure to the south. Ukraine's airforce said that Russia launched 324 unmanned aircraft in the time period between 6 p.m. and 1500 GMT on Tuesday, as well as three ballistic missiles. The air defence units destroyed or neutralised 309 drones. However, the missiles and thirteen drones were hit in nine different locations. Oleksandr Gáncha, regional governor of the Dnipro region, confirmed on Telegram that three people were injured by a Russian drone attack overnight on the city. Ganzha posted photos of a building that had a huge hole on one side. Five people were killed and more than 30 injured in a Tuesday missile attack on the city. Ihor Taburets said that four people were treated for injuries after an overnight drone attack in Cherkasy. Ivan Fedorov said that a woman was killed early Wednesday morning in shelling of Zaporizhzhia, located in the south-east of Ukraine. Fedorov wrote on Telegram that a 74 year old saleswoman had been killed at a kiosk. The attack also damaged nearby residential buildings, a business premises, and car parks. Oleh Kiper, regional governor of Odesa, Ukraine, reported that port infrastructure in the southern region on the Black Sea was subjected to another drone attack. Damages were reported at administrative and warehouse buildings. Officials from the Kyiv area also reported an attack by drone.
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New York Times Business News - April 15, 2019
These are the most popular?stories from the New York Times business pages. These stories have not been?verified and we cannot vouch for their accuracy. Both sides reported that they had a positive discussion, although it wasn't immediately clear if a framework for peace was agreed upon. OpenAI announced that it would share its new A.I. GPT-5.4 Cyber, a?model that will be shared with hundreds of organizations before being expanded to thousands more in the next few weeks. Canadian Prime Minister Mark Carney announced that he will temporarily suspend the federal gas tax from 'early September onwards. He is the latest country to act to assist consumers who are facing rising prices at the pumps due to 'the war in Iran and disruptions to global energy markets. - 'The U.S. House of Representatives overwhelmingly passed a bipartisan aircraft safety bill. This has set up a'showdown' with the Senate where leaders have proclaimed that certain provisions are not enough to prevent midair collisions. (Compiled by Bengaluru Newsroom)
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China ordered Maersk and MSC not to operate Panama ports, according to FT.
The Financial Times reported that China has told the Danish shipping company Maersk and Swiss-based Mediterranean Shipping Company to stop operating ports on the Panama Canal. The report cited 'two people who were familiar with the discussions' as saying that Maersk and MSC Shipping received a directive from China's state planner to immediately withdraw from the Balboa and Cristobal port. Could not confirm the report immediately. Maersk Shipping, China's Foreign Ministry, and the State Planner did not respond immediately to requests for comment. The report stated that Maersk and MSC were warned not to "engaged in illegal activities which harm the interests Chinese companies and to maintain commercial ethics and international laws." Panama has granted temporary concessions of 18 months to keep the terminals operational. APM Terminals is a unit?of Maersk and TIL Panama is a?unit?of MSC. CK Hutchison is facing heavy criticism in China after announcing a plan to sell 43 ports across 23 countries in March '2025, including Balboa & Cristobal, to a group led by a family-run Italian shipping company MSC and BlackRock. (Reporting and editing by Sonia Cheema, Subhranshu Sahu, and Gnaneshwarrajan in Bengaluru)
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Reports from FT claim that Iran used a Chinese spy satellite to target US military bases.
The Financial Times reported on Wednesday that Iran had secretly purchased a Chinese spy satellite. This gave the Islamic Republic the ability to target U.S. bases in the Middle East during the recent war. According to the report, which cited leaked Iranian documents, the Islamic Revolutionary Guard Corps Aerospace Force acquired the TEE-01B satellite in 2024, after it had been launched from China. The newspaper reported that Iranian military commanders had directed the satellite to monitor major U.S. Military sites. It cited time-stamped coordinates lists, satellite imagery and orbital analyses. The images were captured in March, before and after missile and drone strikes?on these locations. Could not verify the report. Earth Eye Co, the CIA, the Pentagon, China's Ministry of Foreign Affairs and Defence, and The White House did not respond immediately to our requests for comment. According to the report, as part of the agreement, the IRGC gained access to commercial ground station operated by Emposat. Emposat is a Beijing-based 'provider of satellite data and control services with a nationwide network that extends across Asia, Latin America, and other regions. FT reported that satellite images captured on March 13-14 and 15 showed the Prince Sultan 'Air Base 'in Saudi Arabia. The U.S. president Donald Trump confirmed on March 14 that US planes had been?hit? at the base. The report states that the satellite monitored Muwaffaq Salti Air Base, in Jordan, as well as locations near the Fifth Fleet Naval Base in?Manama in Bahrain and Erbil Airport in Iraq around the time IRGC claimed attacks on facilities there. Reporting by Shivani Tana in Bengaluru, Editing by Sonali and Neil Fullick
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The day after Gulf Exit, a sanctioned tanker returns to the Strait of Hormuz
Shipping data revealed that the U.S. sanctioned tanker Rich Starry returned to the Strait of Hormuz?on Wednesday, after?exiting?the Gulf?the day before. It failed to overcome a U.S. ban on vessels visiting Iranian ports. Donald Trump, the U.S. president, announced the blockade Sunday following the failure of weekend talks between the U.S. government and Iran in Islamabad. The U.S. Central Command reported on X that "no ships were able to get past the U.S. Blockade during the first 24 hour period." Six vessels complied to U.S. orders to turn around and re-enter a port in Iran. On Tuesday, the first of the U.S.-imposed blockade, at least eight ships crossed the waterway. Two oil tankers were stopped by a U.S. destroyer on Tuesday as they attempted to leave the Iranian Port of Chabahar in the Gulf of Oman, according to a U.S. government official. U.S. Sanctions were imposed on The Rich Starry, its owner Shanghai Xuanrun Shipping Co., and their dealings with Iran. The company was unable to be reached for comment. Kpler data revealed that the Rich Starry was a medium-range vessel carrying around 250,000 barrels methanol. It was loaded in the port of Hamriyah, United Arab Emirates. The blockade is causing even more uncertainty for oil companies, war risk insurers and shippers. Industry sources reported on Tuesday that traffic is still a fraction of what it was before the U.S.-Israeli 'war on Iran' began on February 28. Kpler data and LSEG showed that the Very Large Crude Carrier Alicia, a vessel sanctioned by the United States, which has a history of transporting Iranian oil since 2023, is entering the Gulf on Wednesday via the strait. Kpler data shows that the empty?tanker capable of carrying 2 million barrels is headed to Iraq on Thursday to load a cargo. According to the data, the Malta flagged VLCC Agios Fanourios 1 entered the Gulf on Wednesday via the strait in a second transit attempt. The tanker was one of several vessels which attempted to enter the Gulf during Sunday's ceasefire agreement between the U.S. and Iran. According to data and trade sources, it is headed?to Iraq for Basra crude to?Vietnam’s Nghi Son refinery. Eastern Mediterranean Maritime which manages Agios Fanourios 1 and Nghi Son Refinery & Petrochemical have not responded to comments immediately.
Trump asks allies to secure Strait of Hormuz, as Iran promises to increase retaliation
Iran has threatened to escalate tensions across the Middle East in retaliation for American airstrikes against its energy hub and the?U.S. Donald Trump called on friendly nations to send warships into the Strait of Hormuz to secure it, as there was no sign of a 'war' ending Sunday. The U.S. and its allies are facing high energy prices due to the fact that Iran can stop shipping through the Strait of Hormuz, which is a major channel for shipping oil and gas. "Countries that receive oil through the Hormuz Strait are responsible for that passage and we will assist a lot!" Trump posted a message on social media Saturday. "The U.S. also will coordinate with these Countries to ensure that everything runs smoothly and quickly." Both sides seemed to be preparing for a prolonged conflict as the conflict entered its third week. Three sources with knowledge of the situation said that Trump's administration has rebuffed Middle Eastern allies who wanted to begin diplomatic negotiations aimed towards ending the conflict.
Iran has also shown a?defiance', refusing to accept any possible ceasefire until U.S. airstrikes and Israeli strikes are over.
Iranian forces continue to strike. The U.S. urged U.S. citizens to leave Iraq following a missile strike on the U.S. embassy in Baghdad on Friday night. According to reports by governments and state-run media, since Israel and the United States started air attacks against Iran on February 28, more than 2,000 have died, mainly in Iran. The semi-official Fars News Agency reported on Saturday that at least 15 people were killed in an airstrike against a factory producing refrigerators and heaters in Isfahan.
Iran called for civilians to evacuate UAE ports, docks and "American hiding places", saying that U.S. forces were targeting Iran from these areas. The UAE has denied that the attacks on Iran's Kharg Island overnight Friday came from its territory.
Iran's Islamic?Revolutionary Guard Corps called any facility associated with the United States as a "legitimate" target and urged all U.S. companies to leave the region. The oil market disruptions are unlikely to stop anytime soon. Sources in industry and commerce said that some oil-loading activities were suspended after a drone strike in Fujairah, the UAE's emirate of Fujairah, which is a global ship-refueling center.
Civil defence forces were still battling a fire that was caused by falling debris as late Saturday night.
'BOMBING the HELL OUT of the SHORELINE' Trump spent his weekend in Florida at his Mar-a-Lago Resort, where he maintained a low-profile on Saturday while posting to his Truth Social account. In one of his posts, Trump expressed the hope that China, France and Japan would send warships to the Strait of Hormuz. No one from these countries has indicated that they will do so. French officials announced on Friday that their government is pushing forward with efforts to form a coalition for the Strait of Hormuz after the security situation has stabilized.
British Ministry of Defence spokesperson stated on Saturday that "we are currently discussing a range of possible options with our partners and allies to ensure the safety of shipping in the area." The Iranian Supreme Leader Mojtaba Khmenei who succeeded his father has stated that the Strait of Hormuz must remain closed.
Separately Abbas Araqchi, the Iranian Foreign Minister, dismissed the speculation of U.S. Secretary of Defense Pete Hegseth claiming Khamenei had been wounded and was likely disfigured. "There is nothing wrong with the new Supreme Leader. Araqchi said to?MS Now that he sent his message yesterday and will fulfill his duties.
Khamenei did not appear in public on Thursday, but instead issued a statement read by a TV presenter.
Iran downplayed the extent of damage to?Kharg Island. The U.S. claimed that it targeted military targets, and not energy-related ones, on the island. It is located about 24 km (15 miles) off the coast of Iran in the Gulf. U.S. Central Command reported that it had hit more than 90 sites in Kharg including missile storage bunkers, naval mine storage, and other military targets.
Araqchi stated that Iran will respond to "any attack" on its energy infrastructure. Iran's Ministry of Defense announced on Saturday that 9 ballistic missiles and 33 drones had been launched by Iran toward the UAE.
Iran has warned residents in Dubai to avoid areas near the ports of Jebel Ali and Khalifa in Abu Dhabi, and Fujairah in the UAE. It also said that it is targeting U.S. bank branches in the Gulf.
Fujairah is the UAE's Murban crude-oil exporter. It receives about 1 million barrels of oil per day, which is about 1% of global demand.
(source: Reuters)