Good morning, wonderful people. The brief disruption of airspace in the region yesterday and the looming sense of panic after Iran struck a US military base in Qatar have both been quashed overnight, after US President Donald Trump said Israel and Iran had reached a tentative ceasefire.

Trump hinted at a complete “end” to hostilities after 24 hours, with the news making it to the front pages of virtually every foreign news outlet: Financial Times | Bloomberg | Reuters | Associated Press | Guardian

The announcement came mere hours after the strikes in Qatar, which were intercepted and caused no injuries or casualties, but had led to the brief closure of airspace in Qatar, the UAE, Bahrain, and Kuwait.

The strikes came in response to the US’ strikes earlier this week on Iran’s nuclear facilities, though most political analysts concede that the move was largely symbolic, and that Qatari officials were aware they would take place. While Trump characteristically dismissed the strikes as a “very weak response,” he less characteristically thanked Iran for giving it advance notice to avoid any loss of life and called for both Israel and Iran to seek peace. (Reuters | Bloomberg | Associated Press | New York Times | Washington Post | Guardian)

The news sent oil prices tumbling 5%, with Brent futures closing at USD 71.48 a barrel. Stocks cheered the news, while safe haven assets like the USD fell in a risk rally. We have more on the market response in this morning’s Planet Finance, below.

Flights to and from the UAE should now be back to normal, with only a dozen flights having to divert from Dubai last night, Bloomberg reports. British Airways, which had suspended flights to Dubai earlier on Monday, has also resumed flights, the National reports.

Still, the turbulent events leading up to the ceasefire left their mark. Prominent financial institutions pulled staff and family members from the Middle East, amid concerns over regional stability, Reuters reported earlier yesterday. Mitsubishi UFJ Financial Group evacuated family members of staff based in Dubai and Riyadh, and was reportedly considering allowing employees to depart at their own discretion, depending on how the situation evolves. Mizuho Financial Group was also evaluating contingency options, including potential staff withdrawals, and JPMorgan is only allowing essential travel to the region.

WEATHER- Dubai will see an afternoon high of 40°C today — though it will feel as hot as 51°C — before cooling down a bit to an overnight low of 30°C, according to our favorite weather app. Temperatures in Abu Dhabi are on the cooler side as usual with afternoon highs reaching 35°C before dipping to an overnight low of 31°C.

WATCH THIS SPACE-

#1- New AED symbol coming to your laptop soon? The Central Bank of the UAE (CBUAE) has asked major tech firms to adopt the new AED symbol across digital platforms, Emarat Al Youm reports. The request went to firms like Apple, Microsoft, and Google, to switch the current symbol to the new AED one on keyboards, financial transactions, and search engines.

The timeline: The bank set September as an adoption target, but this could be pushed to next year if the alteration doesn’t catch companies’ update cycle in time this year, a source said. The bank guide proposes placing the symbol on the 6 key on keyboards, though the final implementation requires approval from tech companies.

ICYMI- UAE banks rolled out the country’s new AED symbol across mobile apps and ATMs last month, marking the first step in its phased adoption. The new symbol, unveiled earlier in March, features two horizontal lines signifying stability, inspired by the UAE flag.

#2- Americana confirms talks with Cravia over a buyout: ADX and Tadawul-listed F&B giant Americana Restaurants International has confirmed it is in early talks to acquire a stake in Dubai-based Cravia, the MENA operator of Five Guys, Cinnabon, and Zaatar w Zeit, according to a disclosure (pdf). No details on the size, value, or timeline of the acquisition were disclosed. Americana was said to be in initial talks for the move last week with Dubai-based private equity firm Fajr Capital, which acquired Cravia in 2016.

DATA POINT-

Indian-owned businesses accounted for the lion’s share of non-Emirati firms joining the Dubai Chamber of Commerce in 1Q 2025, with 4.5k new joiners, according to the Dubai Media Office. Pakistani companies followed with 2.2k registrations, while Egyptian firms ranked third with 1.4k. Bangladeshi members grew 28.5% y-o-y to 817, while firms from the UK (678), Syria (462), Jordan (350), China (347), Turkey (329), and Iraq (303) also made it into the top ten.

Sector-wise, new members came primarily from the wholesale and retail trade segment, while real estate and business services accounted for 35.4%, and construction’s 16.7% share put it in the third spot.

HAPPENING TODAY-

#1- EVCharge Live Middle East arrives at the Dubai World Trade Center today and tomorrow, spotlighting EV charging infrastructure. Event highlights include a conference with over 150 speakers, an EV and charging exhibition, and networking meetings.

#2- Solar & Storage Live is also happening today and tomorrow at the Dubai World Trade Center. The solar energy and battery storage exhibition will see over 10k attendees meet for talks and exhibitions on technology focused on the green transition.

#3- Mobility Live Middle East returns to Dubai today and tomorrow at the Dubai World Trade Center, spotlighting future transport. The trade event will bring together regional mobility leaders for keynotes, panel sessions, and an expo featuring autonomous tech, smart cities, and public transport.

#4- Middle East Rail will run in parallel today and tomorrow at Dubai World Trade Center, bringing together transport ministries, rail operators, and tech firms for discussions and exhibitions on high-speed networks, digitalisation, and transit infrastructure.

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