Optimism is growing that the Middle East conflict may be nearing de-escalation as Pakistan plays a key mediating role between Iran and the United States. Talks focus on a possible ceasefire, nuclear tensions, and the reopening of the Strait of Hormuz. However, investors remain cautious amid repeated diplomatic setbacks.
Dubai’s iconic Burj Al Arab will temporarily close for an 18-month renovation, marking its first major upgrade since opening in 1999, amid declining regional tourism.
Pakistan has proposed hosting a second round of talks between the United States and Iran in Islamabad in the coming days, before the end of the ceasefire, two Pakistani officials said.
With failed talks and a fragile ceasefire collapsing, global energy markets face severe disruption as the world’s most critical oil chokepoint comes under unprecedented pressure.
US President Donald Trump said on Wednesday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz
