Aviation Middle East airspace shut after Israel strikes Iran Airlines steered clear of much of the Middle East on Friday after Israeli attacks on Iranian sites forced carriers to cancel or divert thousands of flights in the latest upheaval to travel in the region. Proliferating conflict zones around the world are becoming an increasing burden on airline operations and profitability and more of a safety concern. Detours add to […] June 13, 2025
Oil & Gas Strong Chinese demand keeps Iranian oil flowing Iran’s refining facilities and oil storage did not sustain any damage from Israel’s strikes on Friday, according to the National Iranian Oil Refining and Distribution Company. Israel targeted its nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building a […] June 13, 2025
Oil & Gas Oil hits $78 and stocks rattle as Middle East tensions flare Oil prices rose more than 9 percent and the Asian stock market dived on Friday morning after Israel launched attacks on Iran. Brent surged to $78 a barrel in the biggest intraday gain since March 2022, before settling lower at $74 by 05:56 GMT. US West Texas Intermediate crude rose 9.3 percent to $74.36 a […] June 13, 2025
Markets Gold tops one-month high on haven demand Gold prices climbed on Friday to their highest point in more than a month, on track for a weekly gain, as investors sought haven assets after Israel’s strike on Iran heightened Middle East tensions. Spot gold was up 1.3 percent at $3,428.28 an ounce as of 01:34 GMT after hitting its highest level since May 7 earlier […] June 13, 2025
Oil & Gas Oil jumps over 7% amid rising Middle East tensions Oil prices jumped more than 7 percent on Friday, hitting their highest in months after Israel said it struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Brent crude futures rose $5.29, or 7.63 percent, to $74.65 a barrel by 01:42 GMT after hitting an intraday high of $75.32, […] June 13, 2025
Opinion Oil & Gas Trump’s Gulf trip will test regional nerves and alliances With oil sliding and Iran talks ahead, the GCC braces for a high-stakes presidential visit April 9, 2025
Opinion Oil & Gas The Riyadh summit will shape global energy geopolitics Diplomatic pressure is rising and so is the volatility of black gold February 26, 2025
Food & Drink Americana Restaurants profit rises as Gaza boycott eases Americana Restaurants, the largest food service business in the Middle East and North Africa, said profit rose in the fourth quarter as a consumer boycott that is related to the Gaza conflict eased. Net income in the three months to December 31 rose 26 percent to $41 million, compared with $32 million in the same […] February 12, 2025
Food & Drink McDonald’s sales rebound in Middle East as boycott impact fades McDonald’s recorded sales growth in the Middle East in the fourth quarter of last year as the impact of boycotts tied to the Gaza war faded. This helped the US burger giant offset weaker performance elsewhere in the world. The fast food chain posted a 4.1 percent rise in Q4 sales in its international developmental […] February 11, 2025
Opinion Trade US trade bravado hides a cautious stance on China Presidents Trump and Xi are going through the motions February 6, 2025
Logistics Egypt urges return of Suez Canal traffic after Gaza ceasefire Egypt has held talks with 23 maritime companies, encouraging them to resume transits through the Suez Canal following the ceasefire agreement between Israel and Hamas. There are many positive indicators for the Red Sea region as stability returns, said Osama Rabie, chairman of the Suez Canal Authority (SCA). He said the SCA has been flexible […] February 3, 2025
Logistics Shipping giants not yet ready to resume Red Sea route Two shipping giants said on Friday that they are in no rush to resume routes through the Suez Canal after a Yemeni militia announced earlier this week it will scale back hostilities against vessels transiting through the Gulf of Aden and Red Sea if the ceasefire in Gaza holds. Danish shipper Maersk and Abu Dhabi […] January 24, 2025
Opinion Oil & Gas Expect the unexpected with Trump and the Gulf Whatever the new administration decides, it is unlikely to happen quickly January 24, 2025
Economy Saudi Arabia has ‘great confidence’ in Lebanon’s reforms Prince Faisal bin Farhan Al-Saud visited Beirut on Thursday, the first trip to Lebanon by a Saudi foreign minister in 15 years. The visit coincided with early signs of recovery in Lebanon’s economy as it improves relations with Gulf states and others following the election of President Joseph Aoun. After his meeting with Aoun, Bin […] January 24, 2025
Transport Suez Canal extension to be operational in first quarter The Suez Canal expansion, which will extend the waterway’s two-way section by 10km, is expected to be operational in the first quarter of 2025, the authority’s chairman has said. Egypt announced on Saturday that the new stretch, near the canal’s southern end and close to Little Bitter Lake, was successfully tested without incident. Osama Rabie, chairman of […] January 22, 2025
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] January 16, 2025
Economy Inflation, not war, is Gulf states’ top concern, says WEF Economic concerns such as inflation dominate risk perception for the coming year in the Gulf and across Mena, according to the World Economic Forum. Its survey of thousands of experts and business leaders, the Global Risks Report 2025, found that geopolitical conflict was the No 1 risk globally, selected by respondents as the “most likely […] January 15, 2025
Trade Blinken says Saudi-Israeli deal ‘much closer’ in final speech The long sought-after normalisation of bilateral relationships between Saudi Arabia and Israel remains within reach and is the best path toward a stable Middle East, Antony Blinken said yesterday in his final speech as US secretary of state. “Much of the heavy lifting for normalisation is complete, including negotiations on complex US-Saudi elements of an […] January 15, 2025
Economy Lebanon’s bonds rally after new president elected Lebanese government bonds extended their three-month-long rally on Thursday as the crisis-ravaged country’s parliament voted in a new head of state for the first time since 2022. Lebanese lawmakers elected army chief Joseph Aoun as president. It came after 12 failed attempts to pick a president and boosted hopes that the country might finally be able to start addressing […] January 10, 2025
Opinion Logistics Gulf logistics has much to be optimistic about in the year ahead A stable economy, supply chain integration and more domestic construction projects will drive growth January 9, 2025
Opinion Banking and Finance Stable, if lacking excitement: the outlook for Gulf banks GCC banks are well capitalised, have low cost-to-income ratios and have been generating healthy profits January 8, 2025
Retail Dubai’s Majid Al Futtaim closes Carrefour in Oman Dubai-based retail conglomerate Majid Al Futtaim has launched its new grocery retail brand HyperMax in Oman, according to reports, after closing all of its Carrefour stores in the sultanate. It follows a similar move in Jordan in November where its Carrefour franchise brand ceased operations and 34 HyperMax locations were opened across the country. Carrefour […] January 8, 2025
