A fragile two-week ceasefire between the US and Iran has taken effect after weeks of conflict that disrupted global energy markets and brought shipping in the Strait of Hormuz to a near standstill.

Brokered through Pakistan at the last minute, the truce has eased immediate fears of escalation, but key flashpoints remain unresolved, from control of Hormuz to ongoing regional hostilities.

While oil prices have eased and diplomatic talks are expected to follow, shipping firms, governments and markets remain cautious, with limited vessel movement and continued security risks across the region.

Gulf Business will bring you the latest developments, reactions and market impact as the situation evolves.

Saturday, 11th April 2026, 06:00

The US and Iran were to hold negotiations in the Pakistani capital Islamabad on Saturday to end their six-week-old war, although Tehran threw the talks into doubt by saying they could not begin without commitments on Lebanon and sanctions.

The US delegation, led by Vice President JD Vance and including President Donald Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner, was on its way to Islamabad after a refuelling stop in Paris.

The Iranian delegation, led by ‌parliamentary Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, arrived on Friday.

Read more: JD Vance jets into Islamabad for ‘make-or-break’ US-Iran talks

Friday, 10th April 2026, 06:33

TOKYO, April 10 (Reuters) – Japan’s Nikkei share average surged on Friday and was on track for its sharpest weekly gain in eight months, as optimism over corporate earnings and technology investment outweighed concerns about a fragile ceasefire in the Middle East.

The benchmark Nikkei 225 Index .N225 rose 1.65% to 56,817.54, poised for a 6.8% weekly jump that would be its best since mid-August. The broader Topix .TOPX edged up just 0.05% to 3,743.17.

The Nikkei and other global indexes rose sharply on Wednesday, following the announcement of a ceasefire to the nearly six-week long war in Iran that has nearly halted oil shipments from the region.

All eyes are now on talks in Pakistan this weekend, as representatives from the United States and Iran meet to solidify the deal to end hostilities.

Thursday, 9th April 2026, 21:14

JERUSALEM/BEIRUT/ISLAMABAD, April 9 (Reuters) – Israeli Prime Minister Benjamin Netanyahu said on Thursday he is seeking direct talks with Beirut, a day after the worst bombardment of the war killed more than 300 people in Lebanon and placed Donald Trump’s US-Iran ceasefire in jeopardy.

Thursday, 9th April 2026, 17:40

DUBAI/BEIRUT/ISLAMABAD, April 9 (Reuters) – Israel bombed more targets in Lebanon on Thursday, putting the US-Iran ceasefire into further jeopardy after the biggest Israeli attacks on its neighbour of the war killed more than 250 people and threatened to torpedo Donald Trump’s truce.

In Pakistan, authorities locked down the capital Islamabad in anticipation of the war’s first peace talks, cutting off access to a 3-km (2-mile) zone around the five-star luxury Serena Hotel. Both the US and Iranian delegations are expected to stay at the hotel, which told all guests to check out until Sunday as it had been “requisitioned” for “an important event”.

But there was no sign Iran was lifting its near-total blockade of the Strait of Hormuz, which has caused the worst disruption to global energy supplies in history. Tehran said there would be no deal as long as Israel was striking Lebanon.

In the first 24 hours of the ceasefire, just a single oil products tanker and five dry bulk carriers sailed through a strait that accommodated 140 ships a day before the war.

Thursday, 9th April 2026, 15:00

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Thursday, 9th April 2026, 12:00

Lloyd’s List Intelligence tracked just three vessels transiting the Strait of Hormuz since the US-Iran ceasefire was announced early on Wednesday, all with current or past links to Iran.

Here is the rest of Lloyd’s List Intelligence’s update for Thursday, 9 April:

• Another three vessels are approaching the Strait of Hormuz or are positioned to transit the strait (all via Larak Island)
• Preliminary numbers show there were 14 transits of the strait on April 7
• Iran’s approval system for ships being granted safe passage through the Strait of Hormuz remained unchanged on Wednesday. The prospect of increased traffic through the strait, however, is expected to increase the number of vessels having to pay a multimillion dollar toll to transit
• Last week was the busiest since the start of the conflict with 72 transits, however, traffic is still 90% below normal volumes

Thursday, 9th April 2026, 08:30

As he has done throughout this regional crisis, US President Donald Trump has taken to his Truth Social account once again to issue further threats to Iran if certain demands from the US aren’t met. It’s expected that US and Iranian officials will meet in Pakistan on Friday to begin talks.

Thursday, 9th April 2026, 04:54

DUBAI/TEL AVIV/BEIRUT/BUDAPEST, April 8 (Reuters) – Israel pounded Lebanon with its heaviest strikes yet on Wednesday, killing hundreds of people and drawing a threat of retaliation from Iran, which suggested it would be “unreasonable” to proceed with talks to forge a permanent peace deal with the United States.

The warning from Iran’s lead negotiator, parliament speaker Mohammed Bager Qalibaf, laid bare the continued volatility in the region following Tuesday’s ceasefire announcement by President Donald Trump. The two sides have laid out sharply contrasting agendas for peace talks set to start on Saturday, but it was unclear whether the two-week ceasefire would hold until then.

Qalibaf said Israel had already violated several conditions of that ceasefire by ramping up its parallel war against the Iran-aligned militia Hezbollah, while the US had violated the agreement by insisting that Iran abandon its nuclear ambitions.

“In such a situation, a bilateral ceasefire or negotiations were unreasonable,” he said in a statement.

Israel and the United States both said the two-week ceasefire did not cover Lebanon, and Israeli Prime Minister Benjamin Netanyahu said the strikes would continue.

“I think the Iranians thought that the ceasefire included Lebanon, and it just didn’t,” US Vice President JD Vance, who will lead the US delegation, told reporters in Budapest.

The two sides appeared to be far apart on Iran’s nuclear program as well – one of the factors that Trump cited as the basis for war.

Thursday, 9th April, 4:49am

Lebanon’s Hezbollah said early on Thursday it fired rockets at northern Israel in its first attack against the country since the United States reached a two-week ceasefire agreement with Iran.

Hezbollah said in a statement that its attack came in response to what it described as Israeli ceasefire violations, after Israel launched its biggest attack on Lebanon in this war on Wednesday.

Thursday, 9th April 2026, 04:01

LONDON (Reuters) – The war that closed the Strait of Hormuz has ended – for now. But Tehran’s demand to act as toll booth keeper at the world’s most critical oil chokepoint could leave energy markets vulnerable and hardwire higher prices for years to come.

The US and Iran agreed on Tuesday to a two-week ceasefire brokered by Pakistan, subject to Tehran pausing its blockade of oil and gas traffic through the strait, according to US President Donald Trump.

An Iranian official said on Wednesday that the vital waterway, through which around a fifth of the world’s oil and gas flowed before the US-Israeli war on Iran began nearly six weeks ago, could be reopened by Friday in a limited fashion under Iranian control.

Tehran had also indicated on Tuesday that, under a permanent peace deal, it would seek to charge a fee for ships transiting the strait, which is just 34 km (21 miles) wide at its narrowest point between Iran and Oman.

With full details of the ceasefire deal still unclear, some media reports indicate that Oman has strongly pushed back, making clear that no such toll regime is acceptable under existing agreements, while others suggest that such a tolling system may already be in place.

Trump said in an interview with ABC News on Wednesday that the US was also thinking about setting up a joint venture to charge ship tolls for access through Hormuz.

How such a scheme would operate in practice remains far from clear. But Iran may hold the upper hand. The conflict has demonstrated Tehran’s ability to strike dozens of vessels using drones, missiles and sea mines – a capability that gives it powerful leverage even without a formal blockade.

Wednesday, 8th April 2026, 22:35

(Reuters) – The UAE will seek clarification on the terms of the U.S.-Iran two-week ceasefire agreement to ensure Tehran’s full commitment to a cessation of attacks on the region and “unconditional reopening” of the Strait of Hormuz, a foreign ministry spokesperson said in a post on X.

The spokesperson stressed the need for a comprehensive approach that addresses Iranian threats, including Tehran’s nuclear and military capabilities and its proxies in the region.

Wednesday, 8th April 2026, 15:45

(Gulf Business) UAE downs missiles, Kuwait infrastructure hit despite ceasefire – read more here.

The developments come just hours after Donald Trump announced a two-week ceasefire agreement with Iran

Wednesday, 9th April 2026, 09:59

Editor’s note: The Strait question — will Iran reopen Hormuz after Trump’s ceasefire?

Gulf Business group editor, Gareth van Zyl, wrote an opinion piece reacting to the ceasefire announcement. You can read it in full here. Below is an extract:

Iran has indicated it wants to retain a level of control over the Strait as part of any broader agreement. The US, meanwhile, has made clear that full reopening is essential.

Read more: This is Iran’s 10-point proposal to end the war

That tension sits at the heart of the current ceasefire.

It also reflects a familiar negotiating style from Trump. In his 1987 book, The Art of the Deal, he describes starting from maximalist positions before stepping back: a strategy that can create leverage, but also unpredictability.

The question now is whether that approach will translate into a lasting outcome.

Wednesday, 9th April 2026, 03:00

• Trump agrees to two-week Iran ceasefire, drops threat to destroy ‘whole civilisation’ — read the full article here.
• This is Iran’s 10-point proposal to end the war — read the full article here.

Islamic Affairs and Charitable Activities Department (IACAD) has signed a framework agreement with Emarat EV Charging Stations Company (UAEV) to develop and operate electric vehicle (EV) charging infrastructure across mosque parking areas in Dubai.

The agreement grants UAEV temporary site occupation licences to install and manage EV charging stations, as part of efforts to integrate sustainable mobility solutions into community infrastructure. The contract runs for eight years, with an option to renew, supporting the long-term development of the project in line with clean energy and smart city objectives.

The project will include the installation of modern charging stations, along with maintenance, performance monitoring, secure payment systems and advanced energy management technologies aimed at improving efficiency and reducing environmental impact. A dedicated digital application will also allow users to locate available charging stations.

Ahmed Darwish Al Muhairi, Director General of IACAD, said the initiative represents a shift towards developing mosque services within a broader sustainability-focused ecosystem that anticipates future community needs. He added that integrating clean energy solutions into mosque facilities strengthens their role as community hubs while aligning with national strategies on energy, environment and smart transformation.

Engineer Ahmed Al Kaabi, Board Member of UAEV, said: “This agreement reflects the importance of effective partnerships in advancing sustainable mobility across the UAE. Through joint efforts with IACAD to deploy electric vehicle charging infrastructure in mosque facilities, we contribute to integrating clean transport solutions into community amenities and supporting the country’s transition toward a low-emissions future.”

Ali Al Darwish, Acting Chief Executive Officer of UAEV, said the collaboration represents a practical step towards expanding EV charging services in community-centric locations, while maintaining a structured approach to scaling the charging network.

Consultant Engineer Ali Al Halyan Al Suwaidi said the project is based on advanced technical standards, incorporating the latest EV charging technologies with a focus on safety, operational efficiency and future scalability, supported by integrated energy management and monitoring systems.

The initiative highlights IACAD’s efforts to embed sustainability and smart infrastructure into religious and community facilities, positioning mosques as part of Dubai’s broader urban development strategy.

For Natasha Sideris, founder and CEO of Tashas Group — which operates one of the UAE’s most recognisable casual dining chains, tashas — the past few weeks have been defined less by headlines and more by recalibration.

When the Iran war broke out on 28 February, she initially feared the worst — a potential 50 per cent drop in revenue across parts of the business.

The reality, while still painful, has been more contained.

Across the group — which spans more than 40 restaurants across the UAE, South Africa, the UK and Saudi Arabia — she says her outlets in the Emirates are now tracking closer to a 25 to 30 per cent decline, with performance varying sharply by location and concept.

Since the outbreak of the war, regional tensions have disrupted travel, dented consumer confidence and triggered a slowdown across parts of the UAE’s hospitality sector, particularly in tourist-heavy and high-density areas.

“So we’ve got a number of brands in the portfolio… and all of those brands are trading differently,” she said in a video interview with Gulf Business.

Watch the full interview below:


The variation is stark. Some outlets are trading in line with previous years, including tashas in Al Bateen, Abu Dhabi. Others are down between 25 and 30 per cent, while higher-end concepts and tourist-driven venues have taken the biggest hit.

“People are a little bit more scared of being in denser areas… Marina Mall, for example, is a little bit more affected,” she said.

The timing has compounded the pressure. The onset of the conflict coincided with Ramadan, historically a quieter period, and now rolls into the summer months, when demand typically softens further.

The result, she said, was an immediate need to act.

“We reacted really quickly… we needed a little bit of a war chest.”

That response included a series of operational changes. Menus were cut almost in half — from around 55–60 items to closer to 25–30 — removing higher-cost dishes and simplifying supply chains.

“That takes a lot of pressure off the supply chain and allows us to control pricing,” she said.

The group also took the more difficult step of reducing staff costs. Employees were given a choice between layoffs and temporary salary cuts.

“We either have to retrench 30 per cent of the staff or we all have to take a 30 per cent haircut… let’s all suffer together,” she said.

The decision, she added, was supported internally, but remains under constant review.

“Now, whether we’re going to have to make tougher calls… we don’t know how long this will continue.”

Internally, the business is now operating on a near real-time footing, with frequent reviews of performance and short-term outlook.

“Every week is a surprise… it’s a constant evolution,” she said.

Even within a single city such as Dubai, resilience is proving highly location-dependent. Beachfront venues and those with strong local clientele have held up better than those reliant on tourism or located in dense commercial districts.

Against that backdrop, Sideris remains cautious — but not defensive. The group is continuing with expansion plans in the UAE, including new openings across Sharjah, Al Ain and Ras Al Khaimah in the coming months.

“We are not stopping. We believe in the region; we will modify operations to suit the lower turnovers for now,” she said.

Her outlook hinges on timing. A near-term easing could see a recovery towards the end of the year. A prolonged disruption would push that timeline further out.

“If this thing can come to a head, we could normalise by October, November,” she said. “If it carries on, then early next year.”

Zooming out: pressure builds across hospitality

Beyond Tashas Group, the pressures Sideris describes are beginning to surface more widely, echoed by other industry leaders she speaks to regularly.

“I think everyone’s having a very similar experience,” she said, referencing conversations within a CEO group of hospitality operators.

The backdrop is a war-driven shock to regional travel and costs. In the immediate aftermath of the conflict, tens of thousands of bookings were cancelled, while airspace disruptions hit mobility across key routes.

The wider impact is significant. The Middle East’s tourism sector is estimated to be losing around $600m per day in visitor spending, with forecasts suggesting inbound travel could fall 11 to 27 per cent in 2026 if tensions persist.

For operators, that is now feeding through in real time.

On the demand side, fewer tourists and disrupted flights are weighing on footfall, particularly in destination dining and high-density areas. On the cost side, higher fuel prices are pushing up food, logistics and operating expenses.

The response is increasingly consistent across the sector: simplify menus, tighten procurement and focus on core, high-margin dishes: mirroring the steps taken by Sideris.

At the same time, many are leaning on domestic demand and loyal customers to stabilise performance.

The result is a market balancing strong long-term fundamentals with short-term volatility.

“It’s a constant evolution,” Sideris said.

For now, the focus remains on preserving cash and staying agile.

“It’s a matter of time.”

Gold rose to a near three-week high on Wednesday, as oil prices and the dollar fell sharply after the US and Iran came to an agreement to cease hostilities for two weeks as talks begin on a permanent end to the conflict.

Spot gold was up 2 per cent at $4,795.99 per ounce, as of 0920 GMT. Earlier in the session, bullion rose more than 3 per cent to its highest level since March 19.

US gold futures for June delivery gained 3 per cent to $4,824.70.

Read more-What gold’s surge really says about currency confidence

The US and Iran have agreed to a two-week ceasefire, subject to Iran’s agreement to pause its blockade of oil and gas supplies through the Strait of Hormuz, Trump said.

Oil prices fell more than 13 per cent to below the $100 a barrel mark, while the dollar sank to its lowest level in a month on the news.

“The weaker dollar is supporting gold, but essentially it is also supported by lower oil prices, lower inflation and increased rate cut expectations after the ceasefire announcement,” said UBS analyst Giovanni Staunovo.

Gold has fallen 10 per cent since the US and Israel launched attacks on February 28. Though the metal is viewed as an inflation hedge, higher interest rates weigh on the non-yielding asset.

Investors now see a 43 per cent chance of at least one rate cut by year-end compared to 14 per cent a day prior, as per CME’s FedWatch Tool. The market now awaits minutes of the US Federal Reserve’s March policy meeting later in the day.

Stocks and bonds surged, but beyond the immediate relief investors were keen to see whether the ceasefire leads to a broader resolution before placing major bets.

“We continue to retain a constructive outlook for gold targeting a price of $5,900/oz by the end of the year, driven by diversification demand as result of rising debt levels and lower real interest rates,” Staunovo said.

Spot silver jumped 5.7 per cent to $77.06 per ounce, platinum gained 3.9 per cent to $2,033.86 and palladium added 4.1 per cent to $1,529.53.

Regional tensions showed little sign of easing on Wednesday, with fresh attacks reported across the Gulf despite a recently announced ceasefire between the US and Iran.

The UAE Ministry of Defence said its air defence systems intercepted 17 ballistic missiles and 35 drones launched from Iran on April 8, underscoring continued security risks even as diplomatic efforts intensify.

The latest incidents bring the total number of intercepted threats since the start of the escalation to 537 ballistic missiles, 26 cruise missiles and 2,256 drones. Authorities said the attacks resulted in three minor injuries, taking the cumulative number of injuries to 224.

In parallel, Kuwait reported a wave of drone attacks targeting critical infrastructure. Kuwaiti armed forces said air defences intercepted 28 drones launched from Iran over several hours, beginning at around 8am.

While many of the drones were neutralised, some strikes caused damage to oil infrastructure, electricity plants and water distillation facilities, highlighting the vulnerability of key energy and utility assets in the region.

The developments come just hours after Donald Trump announced a two-week ceasefire agreement with Iran aimed at reopening the Strait of Hormuz and stabilising global energy flows.