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UAE Bourses Slide as Markets Reopen after 2-day Halt

People walk near screens displaying stock information at the Dubai Financial Market, in Dubai, United Arab Emirates, December 30, 2025. REUTERS/Amr Alfiky
People walk near screens displaying stock information at the Dubai Financial Market, in Dubai, United Arab Emirates, December 30, 2025. REUTERS/Amr Alfiky
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UAE Bourses Slide as Markets Reopen after 2-day Halt

People walk near screens displaying stock information at the Dubai Financial Market, in Dubai, United Arab Emirates, December 30, 2025. REUTERS/Amr Alfiky
People walk near screens displaying stock information at the Dubai Financial Market, in Dubai, United Arab Emirates, December 30, 2025. REUTERS/Amr Alfiky

Dubai and Abu Dhabi stocks tumbled on Wednesday as they reopened after a two-day halt following Iran's unprecedented wave of missile and drone attacks on the Gulf nation on Sunday.

The closure froze trading in billions of dollars' worth of listed assets as investors awaited clarity on the scale of damage from the ⁠weekend strikes, which ⁠hit airports, ports and residential areas across both emirates.

Dubai's main share index slid 4.7%, its biggest intraday drop since May 2022, in broad-based declines led ⁠by blue-chip developer Emaar Properties 4.9%, while budget airliner Air Arabia retreated 5%.

In Abu Dhabi, the index fell 3.6%, also the steepest decline since May 2022, with the country's biggest lender First Abu Dhabi Bank losing 5%.

Both exchanges said they will temporarily set the lower price limit ⁠for ⁠securities at -5%.

In a separate statement, the Dubai Financial Services Authority (DFSA) said that Nasdaq Dubai would also resume trading on the day.

The Abu Dhabi Securities Exchange has instructed all listed companies to immediately assess their financial and operational exposure and promptly disclose any material information that could influence investor decisions.

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Business

COSCO Shipping Suspends Bookings on its Middle East Routes

Containers of China Shipping and Cosco shipping companies are stacked at a transshipment station in Frankfurt am Main, western Germany, on April 15, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)
Containers of China Shipping and Cosco shipping companies are stacked at a transshipment station in Frankfurt am Main, western Germany, on April 15, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)
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COSCO Shipping Suspends Bookings on its Middle East Routes

Containers of China Shipping and Cosco shipping companies are stacked at a transshipment station in Frankfurt am Main, western Germany, on April 15, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)
Containers of China Shipping and Cosco shipping companies are stacked at a transshipment station in Frankfurt am Main, western Germany, on April 15, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)

Chinese shipping and logistics conglomerate COSCO Shipping's container liner unit said on Wednesday it had suspended all new bookings for routes to and from ports in the Middle ⁠East region, including ⁠those in the United Arab Emirates and Saudi Arabia.

The move was due to ⁠escalating conflict in the region and traffic restrictions in the Strait of Hormuz, COSCO Shipping Lines said in a statement.

Bookings for routes to and from Bahrain, Iraq and ⁠Kuwait have ⁠also been suspended, it added.

The company said it was evaluating follow-up disposal plans, including possible alternative unloading ports, for goods currently on board.

Business

France Says Planning G7 Finance Meeting on Middle East

French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends a debate before votes on two no-confidence motions against the French government following the adoption of a new energy law through decree, at the National Assembly in Paris, France, February 25, 2026. (Reuters)
French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends a debate before votes on two no-confidence motions against the French government following the adoption of a new energy law through decree, at the National Assembly in Paris, France, February 25, 2026. (Reuters)
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France Says Planning G7 Finance Meeting on Middle East

French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends a debate before votes on two no-confidence motions against the French government following the adoption of a new energy law through decree, at the National Assembly in Paris, France, February 25, 2026. (Reuters)
French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends a debate before votes on two no-confidence motions against the French government following the adoption of a new energy law through decree, at the National Assembly in Paris, France, February 25, 2026. (Reuters)

France is planning a meeting of G7 finance ministers on the Middle East crisis, with central bankers also in attendance, the country's Economy and Finance Minister, Roland Lescure, said on Wednesday.

"I have spoken with various counterparts, in particular Scott Bessent, who is the US Treasury Secretary. And we agreed to hold a meeting which will place at the beginning of next week," he told Franceinfo radio.

"We want to let a week go by to see how the conflict develops, how the markets evolve. We'll have the finance ministers and the central bank governors there as well."

France currently holds the rotating presidency of the Group of Seven advanced economies, which also includes Canada, Germany, Italy, Japan, the United Kingdom and the United States.

A first meeting of finance ministers under the French presidency was held on January 27.

Lescure said next week's meeting was expected to be an exchange of views.

"We're going to listen to what is coming up from the ground, from businesses, from economists in these different parts of the world," he added.

"The idea is to be able to discuss the state of the situation, so that we can assess any responses that might be needed, if we have to act.

"In a conflict which is currently a local conflict in one region but has global repercussions, it is obviously essential that we coordinate."

The war in the Middle East, sparked by the US-Israeli bombing of Iran on Saturday, has in recent days led to a sharp fall in stock markets, particularly in Europe and Asia.

Since the start of the week, France's benchmark CAC40 index has lost more than five percent. Its German equivalent, the Dax, has fallen by nearly six percent, while London's FTSE 100 has dropped nearly four percent.

Investors are concerned about the sharp rise in hydrocarbon prices due to disruptions to supplies through the Strait of Hormuz, which handles some 20 percent of the seaborne world's oil and liquefied natural gas.

Business

Pakistan Seeks Saudi Oil Supplies Via Yanbu Port

Pakistani Petroleum Minister Ali Pervaiz Malik met with Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki. Photo: Pakistani Ministry of Energy on X
Pakistani Petroleum Minister Ali Pervaiz Malik met with Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki. Photo: Pakistani Ministry of Energy on X
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Pakistan Seeks Saudi Oil Supplies Via Yanbu Port

Pakistani Petroleum Minister Ali Pervaiz Malik met with Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki. Photo: Pakistani Ministry of Energy on X
Pakistani Petroleum Minister Ali Pervaiz Malik met with Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki. Photo: Pakistani Ministry of Energy on X

Pakistan has asked Saudi Arabia to route oil supplies through the Red Sea port of Yanbu after the closure of the Strait of Hormuz disrupted shipping, the petroleum ministry said in a press release on Wednesday.

The request comes as war in the Middle East has disrupted shipping through the Strait of Hormuz, a critical global chokepoint through which a large share of the ⁠world's oil and most ⁠of Pakistan's fuel imports pass, raising concerns about supply security for import-dependent economies.

"He further highlighted that Saudi Arabian sources had assured security of supplies through the Port of Yanbu on the Red Sea, which can ⁠help meet energy requirements," read the release, adding that one vessel has been arranged to sail to Yanbu to lift crude for Pakistan.

Riyadh reaffirmed it would support Pakistan in meeting its emergency energy needs, it added.

Petroleum Minister Ali Pervaiz Malik raised the issue in a meeting with Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki, according to a ministry ⁠statement.

The ⁠minister said most of Pakistan's energy imports transit through the Strait of Hormuz and the government was monitoring the situation closely to ensure the continuity of supplies.