Saudi airline resumes first Iran Hajj flights since 2015
RIYADH: A Saudi airline has resumed flights for Iranian Hajj pilgrims to the kingdom for the first time in a decade, the latest sign of the warming ties between the countries.
'Flynas resumed Iranian pilgrims flights from Imam Khomeini (airport) in Tehran on Saturday,' a Saudi civil aviation authority official told AFP, speaking on condition of anonymity.
The official said flights would also be added from Mashhad in Iran, allowing more than 35,000 pilgrims to travel to Saudi Arabia on the airline.
Flynas is a budget airline based in Saudi Arabia, which operates domestic and international routes.
The official stressed that the flights were not commercial and were only for the hajj pilgrimage.
The hajj is due to begin during the first week of June, and pilgrims from across the globe have already begun pouring into Saudi Arabia.
Shiite-dominated Iran and Sunni-majority Saudi Arabia resumed relations in March 2023 under a surprise China-brokered deal after a seven-year rupture.
Saudi Arabia severed relations with Iran in 2016 after its embassy in Tehran and consulate in the northwestern city of Mashhad were attacked during protests after Saudi Arabia executed Shiite cleric Nimr al-Nimr.
No Iranian pilgrims were allowed into Saudi Arabia in 2016, the year that ties were ruptured, as the two sides were unable to organise a protocol for them to attend.
In September 2015, a stampede during the hajj killed up to 2,300 worshippers, among them hundreds of Iranians.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
28 minutes ago
- Express Tribune
PSX posts fourth weekly decline
Shares of 366 companies were traded. At the end of the day, 182 stocks closed higher. PHOTO: AFP/FILE Listen to article Pakistan Stock Exchange (PSX) extended its bearish run in the outgoing week, which was the fourth consecutive weekly decline, as escalating geopolitical tensions following Israeli airstrikes on Iran, surging global commodity prices and weak regional markets dented investor sentiment. The benchmark KSE-100 index lost 2,120 points, or 1.74% week-on-week (WoW), to close at 120,023, slipping below key technical levels after touching the intra-week low of 119,770. Average daily trading volumes contracted 9.4% to 822 million shares, reflecting cautious participation amid macroeconomic uncertainty and rising oil prices, which hit a five-month high at $77 per barrel. On a day-on-day basis, the PSX on Monday remained range bound and registered thin gains of 82 points as investors treaded cautiously ahead of monetary policy announcement later in the day, where the central bank left policy rate unchanged at 11%. Despite the conflict between Israel and Iran, the benchmark KSE-100 index recorded a slight rise of 0.07% and settled at 122,225. On Tuesday, the market witnessed a volatile trading session, mirroring global market trends amid escalation in geopolitical tensions in the Middle East. The index swung between a high of 666 points and low of 409 points, before closing down by 254 points. On Wednesday, the bourse dived over 1,500 points as it came under pressure in the wake of heightened Israel-Iran conflict and unease over Pakistan's weak economic indicators. The KSE-100 recorded a sharp drop of 1,505 points at 120,466. The PSX extended the downward trend on Thursday and ended lower by 463 points to settle at 120,003, following a volatile session as early gains, driven by policy optimism, were wiped out by selling pressure amid Middle East tensions. The market ended the week by closing flat on Friday as investors remained cautious amid uncertainty about the Israel-Iran conflict. Although the index touched the intra-day high of 120,829, it closed with a slight rise of 21 points. In its report, AKD wrote that the market maintained a bearish momentum during the week as geopolitical concerns continued to weigh on investor confidence. The benchmark KSE-100 index closed the week at 120,023, down 2,120 points, or 1.74% WoW. The week began with the monetary policy committee maintaining the status quo on Monday, aligning with market expectations. Several macroeconomic indicators were released during the week, including a current account deficit of $103 million for May 2025 and net foreign direct investment of $194 million for the month. Additionally, the State Bank's auctions saw a reduction in Pakistan Investment Bonds' (PIBs) cut-off yields in contrast to an increase in T-bills' yields. Furthermore, the State Bank-held forex reserves rose $46 million, ending the week at $11.7 billion as of June 6. In the currency market, the Pakistani rupee depreciated 0.26% WoW against the greenback, closing at 283.7/$. Syed Danyal Hussain of JS Global noted that following the spike in commodity prices and a decline in Asian markets due to geopolitical tensions in the Middle East, the KSE-100 index dropped 3.5% (4,330 points) from its recent high seen last week. On a WoW basis, the index was down 1.7%, with average volumes falling 9.4% to 822 million shares. Brent oil prices continued to climb up to $77 per barrel, hitting a five-month high, on supply-side fears. Accordingly, the SBP opted to maintain policy rate at 11% in its monetary policy meeting held earlier in the week, he said. Moreover, the current account recorded a deficit of $103 million, however, the 11MFY25 figure remained comfortable with a surplus of $1.8 billion. Notably, exports fell 19% YoY while imports were up 9% YoY in May 2025. The analyst pointed out that Pakistan secured a syndicated loan of $1 billion from a foreign commercial bank and arrangements were also underway to secure a refinancing of $1.3 billion from Chinese banks by the end of June 30. In other news, the government raised Rs557 billion in the PIB auction against the target of Rs300 billion, with yields falling 29 to 64 basis points. Lastly, he added, June 19 was the final date for the submission of Expressions of Interest for PIA's acquisition, where five bids were received by the Privatisation Commission.
Business Recorder
5 hours ago
- Business Recorder
Oil prices settle lower
HOUSTON: Oil prices settled down on Friday as the US imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide US involvement in the Israel-Iran conflict. Brent crude futures settled down $1.84, or 2.33%, to $77.01 a barrel. US West Texas Intermediate crude for July - which did not settle on Thursday as it was a US holiday and expires on Friday - was down 21 cents, or 0.28%, at $74.93. The more liquid August contract settled at $73.84. Brent rose 3.6% on the week, while front-month US crude futures increased 2.7%. The Trump administration issued fresh Iran-related sanctions, including on two entities based in Hong Kong, and counter-terrorism-related sanctions, according to a notice posted to the US Treasury Department website. The sanctions target at least 20 entities, five individuals and three vessels, according to Treasury's Office of Foreign Asset Control. 'Those sanctions are cutting both ways. They may be part of a broader negotiation approach towards Iran. The fact they are undertaking this is a signal they are trying to resolve this outside of conflict,' said John Kilduff, partner at Again Capital in New York. Oil prices jumped almost 3% on Thursday after Israel bombed nuclear targets in Iran, while Iran - OPEC's third-largest producer - fired missiles and drones at Israel. Neither side showed any sign of backing down in the week-old war. Brent prices retreated after the White House said Trump would decide whether the United States would get involved in the Israel-Iran conflict in the next two weeks. 'Although a major escalation is yet to occur, risks to supply from the region remain high, still hinging upon the potential for US involvement,' said Russell Shor, senior market analyst at Israel's UN ambassador said Israel seeks genuine efforts on Iran's nuclear capabilities from Friday's meeting between European and Iranian ministers, not just another round of talks. 'However, while Israel and Iran carry on pounding away at each other, there can always be an unintended action that escalates the conflict and touches upon oil infrastructure,' PVM analyst John Evans said. Iran in the past has threatened to close the Strait of Hormuz, a vital route for Middle East oil exports. Oil exports so far have not been disrupted and there is no shortage of supply, said Giovanni Staunovo, an analyst at UBS. 'The direction of oil prices from here will depend on whether there are supply disruptions,' he said. An escalation of the conflict in such a way that Israel attacks export infrastructure or Iran disrupts shipping through the strait could lead to oil at $100 a barrel being a reality, said Panmure Liberum analyst Ashley Kelty. Elsewhere, the EU has abandoned its proposal to lower the price cap on Russian oil to $45, Bloomberg reported. US energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report.
Express Tribune
11 hours ago
- Express Tribune
OGRA directs oil companies to maintain 20-day reserves amid Iran-Israel conflict
Government officials and PSO have voiced concern over 'unfair competition' and the potential threat to G2G fuel supply deals. Photo: AFP Listen to article The Oil and Gas Regulatory Authority (OGRA) has directed all Oil Marketing Companies (OMCs) to maintain fuel reserves to ensure uninterrupted supply across the country amid evolving market conditions following the Iran-Israel conflict. In a statement issued on Saturday, OGRA spokesperson Imran Ghaznavi said all OMCs have been instructed to maintain the mandatory 20-day fuel reserves as required under their licensing terms. "OGRA further emphasises that companies must fully comply with these conditions to ensure smooth fuel supply nationwide," the statement said. Ghaznavi added that Pakistan currently has sufficient petroleum reserves to meet domestic demand. "There are adequate petroleum stocks in the country to meet present consumption levels. OGRA is actively monitoring the situation and ensuring strict oversight to uphold national energy security," he said. He further noted that proactive steps are being taken to address future energy requirements and respond to shifting market dynamics. "OGRA remains committed to ensuring uninterrupted energy supply and strengthening national energy security," Ghaznavi affirmed. Iran–Israel Conflict The recent conflict between Iran and Israel has escalated into the most intense direct confrontation in their history, as both countries exchange large-scale strikes. Israel launched 'Operation Rising Lion' with a surprise attack on June 13, targeting Iranian military leadership, nuclear facilities, and ballistic missile production sites. The operation resulted in the deaths of hundreds, including top Iranian commanders and nuclear scientists. Also Read : Trump eyes Iran-Israel peace via Putin In retaliation, Iran launched waves of drones and missiles at Israeli targets over the weekend, hitting both military bases and civilian infrastructure. More than 24 people were killed in Israel, and dozens more were injured. Iranian authorities say more than 400 civillians, including women and children have been kllled in Israeli assault. Among those killed in the Israeli strikes were the intelligence chief of Iran's Islamic Revolutionary Guard Corps (IRGC) and two senior generals alongside Iran's eight nuclear scientists.
