Middle East 21 February 2026 - 4 May 2026

IMI plc Keeps 2026 Guidance Intact — The Middle East Risk Investors Are Watching
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IMI plc Keeps 2026 Guidance Intact — The Middle East Risk Investors Are Watching

IMI plc stuck to its 2026 profit forecast as organic revenue for the first quarter climbed 5%. Investors remain focused on the FTSE 100 engineering firm's ability to translate its order backlog into sales, with parts of the Middle East still unsettled by conflict. IMI continues to project full-year adjusted basic earnings per share between 136p and 142p. The range barely diverged from what the market was already pricing in. According to the company’s own analyst consensus from April 29, 2026 adjusted EPS stood at 140.1p with group revenue forecast at 2.37 billion pounds — so guidance didn’t move far from those expectations.
May 13, 2026
Emirates Is Almost Back: 96% Global Network Restored as Dubai Flights Rebuild
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Emirates Is Almost Back: 96% Global Network Restored as Dubai Flights Rebuild

Emirates has brought back 96% of its global flights, moving the Dubai-based airline just shy of a complete comeback after a stretch of turmoil on its long-haul network. Flights are back up and running to destinations in the Americas, Europe, Africa, West Asia, the Gulf region, the Far East, and Australasia. The timing is critical. Reuters reported that UAE air traffic snapped back to normal as precautionary restrictions from February 28 were rolled back, clearing a path for airlines to restore flight schedules through Dubai after almost two months of limited operations.
May 4, 2026
Iran Says Lavan Oil Refinery Hit, Israel Denies Role as Ceasefire Faces Early Test
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Iran Says Lavan Oil Refinery Hit, Israel Denies Role as Ceasefire Faces Early Test

Iran reported that an oil refinery on Lavan Island was hit by what it called an "enemy attack" just after 10 a.m. local time on Wednesday, sparking a fire but leaving no casualties. This incident comes shortly after Washington and Tehran agreed to a two-week ceasefire, marking one of the first strikes on key energy infrastructure since the announcement. Tehran didn't name any suspects, and Reuters said it couldn't confirm who was responsible. The Times of Israel later noted that the Israeli military denied any connection to the alleged strike. The truce was expected to calm the Strait of Hormuz—vital for about 20% of global oil flows—and begin reversing the supply jolt that left tankers stuck and sent crude soaring.
April 8, 2026
Standard Chartered PLC Share Price Falls After Dubai Evacuation Raises Fresh Gulf Risk
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Standard Chartered PLC Share Price Falls After Dubai Evacuation Raises Fresh Gulf Risk

Standard Chartered shares slipped in London Wednesday after two sources said the lender started pulling staff from its Dubai offices and instructed employees to work remotely, following Iran’s warning that it would target U.S.- and Israeli-linked banks in the region. According to delayed market data, the stock was recently down 1.25% at 1,664 pence in the afternoon. This isn’t a sideshow for the bank anymore. Gulf markets are central, with Standard Chartered’s global head of investor relations, Manus Costello, pointing out to Reuters back in February that business volumes linking China and the Middle East jumped 18% last year. That uptick highlights just how heavily the lender is relying on cross-border flows in this region.
March 11, 2026
HSBC Holdings Sticks With Gulf Bet Despite Iran Conflict as Markets Slide
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HSBC Holdings Sticks With Gulf Bet Despite Iran Conflict as Markets Slide

HSBC Holdings Plc on Monday reiterated its steady confidence in Gulf economies, even as tensions with Iran persist. That stance carries weight: Reuters calculations using company data indicate the bank’s operations in the UAE and Saudi Arabia have generated roughly 5% of total group profits annually over the last five years. Chief Executive Georges Elhedery is in the thick of an overhaul at HSBC, with the latest statement arriving as the bank restructures into East-West divisions. Eleven business exits have been announced so far, and the profitability target is now set at 17% or higher through 2028.
March 9, 2026
Qantas rolls out fee-free rebooking as Middle East airspace closure snarls Australia-Europe travel
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Qantas rolls out fee-free rebooking as Middle East airspace closure snarls Australia-Europe travel

Qantas Airways Limited on Thursday announced it’s waiving change fees, offering travel credits, or refunds for customers with Qantas-issued tickets scheduled between Feb. 28 and March 15 for flights involving the United Arab Emirates, Qatar, Israel, Jordan, or Oman. According to the airline, travelers can rebook as far out as March 27 under this arrangement. Airlines rushed to patch up flight networks after U.S.-Israeli strikes on Iran closed large sections of the region’s airspace, sending ticket prices soaring on routes like Australia to Europe. Qantas finished the day up 1%, Cathay Pacific jumped 4%. Flightradar24 showed a handful of Emirates planes departing Dubai for places such as Sydney, but the majority of flights stayed grounded. “For now, I consider this
March 5, 2026
American Airlines waives fees as Iran conflict keeps Gulf skies shut and hits airline stocks
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American Airlines waives fees as Iran conflict keeps Gulf skies shut and hits airline stocks

American Airlines Group Inc dipped 6 cents, or roughly 0.5%, to $12.46 ahead of the bell on Wednesday. Airline shares have been jolted all week, with Middle East conflict driving fuel prices up. With the U.S. and Israel ramping up airstrikes on Iran, flight disruptions have hit hard across the Gulf. Dubai and other major hubs have either closed or put heavy limits on traffic, jamming up a crucial link for long-haul routes connecting Europe and Asia. Since the strikes started, Flightradar24 tallied roughly 21,300 canceled flights across seven big airports, stranding passengers and sending airlines into a scramble over how to juggle crews and planes. “There are important differences across carriers that will shape the actual impact,” said Karen
March 4, 2026
Oil jumps, gas surges after Iran strikes shut Qatar LNG as Hormuz shipping stalls
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Oil jumps, gas surges after Iran strikes shut Qatar LNG as Hormuz shipping stalls

Dubai, March 2, 2026, 23:38 Qatar halted liquefied natural gas production on Monday after Iranian drone strikes hit sites at Ras Laffan and Mesaieed. State-owned QatarEnergy was preparing to declare force majeure — a contract clause that lets a supplier suspend deliveries after extraordinary events — on LNG shipments, sources said. In Saudi Arabia, a drone strike forced a precautionary shutdown of units at Aramco’s 550,000-barrel-per-day Ras Tanura refinery, and Verisk Maplecroft analyst Torbjorn Soltvedt called it “a significant escalation.”
March 2, 2026
Dubai stock market week ahead: DFM braces for a rough open as Iran strikes jolt Gulf assets
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Dubai stock market week ahead: DFM braces for a rough open as Iran strikes jolt Gulf assets

Dubai, March 1, 2026, 12:30 GST — The session ended with markets closed. Dubai shares open Monday as the Gulf digests another security jolt, with regional indexes logging declines Sunday after a round of strikes tied to Iran, the US, and Israel. “Geopolitical tension drives a risk-off mood,” said Hani Abuagla, senior market analyst at XTB MENA. He warned that more escalation “could deepen the sell-off.”
March 1, 2026