Pakistan confirmed Iranian military aircraft landed at Nur Khan airbase during the US Iran standoff, reigniting memories of the 1971 war era. Islamabad insists the planes arrived during a ceasefire for diplomatic support and denies any contingency or military use. The move has drawn sharper US scrutiny of Pakistan’s mediation role and sparked fresh calls to reassess its neutrality.
Dubai hotel prices stayed largely stable through April despite weakened overall tourism demand amid US-Iran conflict related travel shocks. RateGain data and industry executives say hotels largely held their average rates for new bookings by shifting tactics—launching staycation offers aimed at residents—to partially offset the drop in international visitors.
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Pakistan’s Prime Minister Shehbaz Sharif warned the cabinet that the US-Iran conflict has reversed two years of economic gains. He said the oil import bill has surged from about $300 million to $800 million, deepening debt pressures. Sharif urged unified action and said diplomatic mediation should continue to stabilize the situation.
Iran’s foreign minister Araghchi is traveling to St Petersburg for talks with Russian officials, focusing on bilateral ties and broader regional issues. The US-Iran conflict is expected to feature prominently. The visit marks the final leg of a regional tour that also included Pakistan and Oman, as Iran looks to safeguard its national interests amid rising tensions.
Gold inched higher on Friday, but the metal is still on track for its first weekly decline in five weeks. Traders are split between hopes of easing U.S.-Iran tensions and fresh worries about inflation. With oil prices swinging and interest-rate expectations shifting, cautious investor sentiment is weighing on gold’s longer trend.
Indian government bonds were largely unchanged on Friday, yet still logged their first weekly decline since April 3. The slide comes as oil prices resume their upward trajectory, and traders see no near-term resolution to the US-Iran conflict. With energy costs and geopolitical risk back in focus, bond markets remain cautious heading into next week.
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