The FTSE 100 has made another tentative step in early trade to recover losses sparked by the outbreak of war with Iran. Stocks on Wall Street are also set to resume a rally as investor sentiment recovers. Iraq has clinched a deal with Turkey to resume exports through the port of Ceyhan, instead of using the dangerous Strait of Hormuz. This is leading to hopes that a severe, prolonged oil shock will not materialise, as more crude supplies are able to filter out of the region through other routes.
Whenever there's a surge in oil prices, the airlines end up passing that to the consumers immediately. It doesn't take a long time. Jet fuel prices account for about a third of airlines' operating costs, so they cannot afford to wait to upcharge their customers.
British Airways has cancelled all flights to Dubai until June, due to the "continued uncertainty" amid Iranian missile and drone attacks creating "airspace instability" in the Gulf region. Travel to Bahrain, Tel Aviv, and Amman is suspended until 31 May, while flights to Doha are on hold until the end of April. Additionally, services to Abu Dhabi will not resume until October.
The US military is broadly targeting Iran's naval combat capabilities, expanding strikes beyond just warships to mines, drone boats, and torpedoes, the admiral overseeing the Middle East operations said on Monday. Adm. Brad Cooper, head of US Central Command, reiterated in a video statement that eliminating Iran's naval threats is one of three military objectives of the American strike campaign.
Under the UK's statutory residence test, individuals who spend 183 days or more in Britain within a tax year are generally considered UK tax residents. If that threshold is crossed, global income, including earnings generated overseas, may become liable for UK taxation.
Planet Labs PBC, known for taking pictures of Earth every single day, hit pause on the Middle East during an active war, creating a significant information gap in satellite imagery coverage of the region during this critical period.
In the early morning hours, the Dubai Civil Aviation Authority halted flights as a precaution. The Dubai Media Office later confirmed that the situation was "under control" and that the fire had not spread. However, several flights were diverted while emergency teams responded to the incident.
While it is not legally ruled out, given the ongoing conflict, it is something that should be judged carefully. Any decision to dispatch Japanese military vessels to the Middle East to escort ships would face high hurdles, according to ruling Liberal Democratic Party policy chief Takayuki Kobayashi.
Due to the current political situation in the region, the Finalissima cannot be played as hoped in Qatar. Uefa explored other feasible alternatives but each ultimately proved unacceptable to the Argentinian Football Association.
The national team will depart at the end of the week to Mexico via a private plane. [Fifa president Gianni] Infantino directed [Fifa secretary general] Mattias Grafstrom... to follow up and help overcome all difficulties to facilitate the departure of our national team to Mexico.
The war is constraining oil exports and prompting major producers like Kuwait, Saudi Arabia and Iraq to scale back output as shipments face growing obstacles. Iran has attacked commercial ships across the Persian Gulf and targeted oil infrastructure in Gulf Arab nations following U.S. and Israeli strikes. The attacks have effectively halted traffic through the Strait of Hormuz, a narrow passage that carries about one-fifth of the world's oil supply.
Travellers from the UK and mainland Europe are increasingly swapping their holiday destinations away from Cyprus, Turkey and Greece towards Italy, Spain, Malta and Croatia, as the region around the Middle East grapples with flight cancellations and airspace closures.
Despite not knowing whether the conflict would be ongoing by the time their event dates roll around, a decision needed to be made imminently due to the logistics of when teams had to start sending freight to the Middle East for both events. It is highly unlikely the races in the Middle East will be replaced, given the schedule at the back end of the year is tightly packed.
The Port of Salalah, located on Oman's southern coast, is one of the region's most important maritime gateways and had been widely regarded as a relatively safe alternative for shipping companies seeking to avoid the escalating risks around the Strait of Hormuz and the Red Sea. The port sits at a critical intersection of global trade routes linking southeast Asia with Europe, Africa and the Americas.
The International Energy Agency (IEA), a global energy watchdog, with several of the wealthiest countries as member nations, has announced the largest release of government oil reserves in its history, two weeks after the United States and Israel started their war on Iran with strikes on Tehran.
We're shooting down and destroying what missiles they have in stock and, more importantly, ensuring they have no ability to make more. Their production lines, their military plants, their defense innovation centers, defeated. Iran's leadership is in no better shape—desperate and hiding—they have gone underground, cowering, that is what rats do.
