Chestertons, a leading real estate advisory firm, has appointed John Stevens, an industry veteran with over three decades of experience across the Middle East and Asia as its new CEO. This significant step in the firm’s growth across the region signals a decisive move to align leadership with a rapidly evolving market.
Leading Indian carriers - Air India and Air India Express - are operating 28 scheduled and non-scheduled flights to the Middle East. Of these, Air India will operate a return service each from Delhi and Mumbai, while Air India Express will fly one each from Bengaluru, Kozhikode and Mangalore.
The air cargo spot rates continues to rise sharply amid the highly volatile, unstable and fast-changing situation in the Middle East. As per WorldACD Market Data reports, there has been some recovery in the air cargo markets since the Iran war, with the average spot rates from Gulf countries up 22%.
Gold prices are currently navigating heightened uncertainty trading at around $4,605 per ounce, caught between opposing forces that make it difficult to establish a clear short-term trend. On the one hand, the macroeconomic backdrop in the US has reinforced expectations of higher interest rates for longer.
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed, after US and Israeli strikes on Iran plunged the region into turmoil.
Global airlines reported a 5.9% rise in international revenue passenger kilometres (RPK) in January over last year, with Middle Eastern carriers outpacing most regions with a 83.2% load factor despite a broader slowdown in growth at the start of the year, according to a report by IATA.
Escalating tensions in the Middle East have sent shockwaves through global markets, pushing oil and gold sharply higher and raising questions on near-term outlook for regional equities, said a financial expert. Brent crude surged by 13% to $82 a barrel driven by fears of disruption in Strait of Hormuz.
A sharp escalation in the Middle East conflict has triggered major disruptions across the region’s energy industry, with QatarEnergy announcing a halt to LNG production, Saudi Aramco shutting its Ras Tanura refinery and the shipping almost coming to a halt in Strait of Hormuz.
US President Donald Trump said Israel had 'violently lashed out' by striking Iran’s South Pars gas field, in an escalation of the conflict, prompting a retaliatory attack by Tehran on Qatar’s Ras Laffan Industrial City. He ruled out further such attacks by Israel unless Iran retaliated.
In a major escalation in the Middle East conflict, Iran's huge Pars gas field was hit on Wednesday in the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, prompting Tehran to warn its neighbours that their energy installations would be targeted "in the coming hours".
