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How Middle East conflict reshapes global air routes

How Middle East conflict reshapes global air routes

The
Middle East is a region of intense beauty and ancient kingdoms. It has also repeatedly endured periods of geopolitical instability over many centuries.
Today, geopolitical, sociopolitical and religious tensions persist. The world is currently watching as long-standing regional tensions come to a head in the shocking and escalating
conflict between Israel and Iran
The global airline industry takes a special interest in how such tensions play out. This airspace is a crucial corridor linking Europe, Asia and Africa.
The Middle East is now home to several of the world's largest international airlines: Emirates, Qatar Airways and Etihad Airways. These airlines' home bases – Dubai, Doha and Abu Dhabi, respectively – have become pivotal hubs in international aviation.
Stranded passengers wait in the departure lounge of an airport in Lebanon on June 13 amid the Israel-Iran conflict. Photo: dpa
Keeping passengers safe will be all airlines' highest priority. What could an escalating conflict mean for both the airlines and the travelling public?

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Opec+ may speed oil output hikes amid Israel-Iran fighting: Rosneft head
Opec+ may speed oil output hikes amid Israel-Iran fighting: Rosneft head

South China Morning Post

time5 hours ago

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Opec+ may speed oil output hikes amid Israel-Iran fighting: Rosneft head

Opec+ group of leading global oil producers could bring forward its output hikes by around a year from the initial plan, Igor Sechin, head of Russia's largest oil producer Rosneft, said on Saturday. He also said that the decision by the Opec+ to speed up the output increase now looked farsighted and justified in light of the confrontation between Israel and Iran. The Organization of the Petroleum Exporting Countries and its allies, led by Russia, shocked oil markets in April by agreeing to a bigger-than-expected output hike for May despite weak prices and slowing demand. Opec+ has since decided to continue with more than planned hikes. 'The announced increase in production since May of this year is three times higher than the alliance's initial plan. In addition, the entire increase in Opec+ production could be shifted a year ahead of plan,' he said without elaborating. 'The decision taken by Opec leaders to forcefully increase production looks very farsighted today and, from the market's point of view, justified, taking into account the interests of consumers in light of the uncertainty regarding the scale of the Iran-Israel conflict,' he added.

How Middle East conflict reshapes global air routes
How Middle East conflict reshapes global air routes

South China Morning Post

time14 hours ago

  • South China Morning Post

How Middle East conflict reshapes global air routes

The Middle East is a region of intense beauty and ancient kingdoms. It has also repeatedly endured periods of geopolitical instability over many centuries. Today, geopolitical, sociopolitical and religious tensions persist. The world is currently watching as long-standing regional tensions come to a head in the shocking and escalating conflict between Israel and Iran The global airline industry takes a special interest in how such tensions play out. This airspace is a crucial corridor linking Europe, Asia and Africa. The Middle East is now home to several of the world's largest international airlines: Emirates, Qatar Airways and Etihad Airways. These airlines' home bases – Dubai, Doha and Abu Dhabi, respectively – have become pivotal hubs in international aviation. Stranded passengers wait in the departure lounge of an airport in Lebanon on June 13 amid the Israel-Iran conflict. Photo: dpa Keeping passengers safe will be all airlines' highest priority. What could an escalating conflict mean for both the airlines and the travelling public?

US stocks end week mostly lower
US stocks end week mostly lower

RTHK

time18 hours ago

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US stocks end week mostly lower

US stocks end week mostly lower Analysts pointed to a pullback in some chip companies and uncertainty over the Middle East. Photo: AFP Wall Street stocks mostly fell on Friday amid weakness in some semiconductor shares as markets weighed the latest developments in the ongoing war between Iran and Israel. Markets rose after US President Donald Trump's remarks on Thursday on the Middle East, allowing for up to two weeks before possible US military action against Iran. But on Friday afternoon, Trump expressed doubt that European powers would be able to help end the Iran-Israel war, telling reporters, "Europe is not going to be able to help in this." The Dow Jones finished up 0.1 percent at 42,206. But the S&P 500 shed 0.2 percent to 5,967, while the Nasdaq fell 0.5 percent to 19,447. Adam Sarhan of 50 Park Investments described the market as on edge in anticipation of new headlines on trade actions or the Middle East. "We have a situation where tensions in the Middle East missiles are still firing, there's no ceasefire and there's a fear that the US may be involved," Sarhan said. In light of uncertainty on Iran and other areas, "investors are de-risking, they're selling stocks ahead of the weekend," Sarhan said. Fed governor Christopher Waller told CNBC that central banks should "look through tariff effects on inflation" and focus instead on the underlying trend in price increases. The Fed earlier this week voted to keep interest rates unchanged, as Fed Chair Jerome Powell said the central bank could wait to see if Trump's tariffs revive inflation. Among individual companies, Kroger jumped nearly 10 percent after the supermarket chain raised its sales forecast. However the company refrained from lifting other projections, saying the macroeconomic environment remains "uncertain." CarMax surged 6.6 percent after reporting a jump in quarterly profits as the company's CEO pointed to a "very large and fragmented" used car market that "positions us to continue to drive sales, gain market share and deliver significantly year-over-year earnings growth for years to come." (AFP)

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