The International Air Transport Association (IATA) has sharply cut its profit outlook for the global airline industry, citing disruptions linked to the Middle East conflict. Airlines are now expected to post a net profit of $23 billion in 2026, while Middle East airlines are likely to post $4.3 billion loss, it said.
South Korea’s inflation rose to a 26-month high in May, reaching 3.1 per cent year-on-year. The increase was driven mainly by higher fuel costs amid volatility in global energy markets, according to Statistics Korea.
Swedish conglomerate Alfa Laval has appointed Alban Hohmann‑Schauly as its new Vice President of Energy unit for the Middle East, South & East Africa region. With over 16 years global experience in the energy and digital infrastructure, Alban has built a strong track record in market analysis and customer segmentation.
Arabian Construction Company Group has appointed Eric Savage as its new Chief Technology Officer (CTO). In this role, Savage will lead ACC’s technology strategy, overseeing enterprise systems, cyber security, IT infrastructure, data initiatives and digital innovation across the business.
flydubai, the Dubai-based carrier, received the “Airline with the Best Connectivity in the Middle East” award for the third time at the Business Traveller Middle East Awards 2026.
Syria recorded nearly 12,000 overflights in May after airlines altered their routes across the region to avoid airspaces affected by recent regional developments.
The Middle East recorded sustained merger and acquisition (M&A) activity in the first quarter with 196 deals valued at $23.3 billion being announced compared to 207 deals worth $31.3 billion last year. UAE accounted for 33 transactions valued at $2.2 billion, down from 52 deals in Q1 2025, said a report.
The Middle East conflict has disrupted hydrogen-based supply chains critical to fertilisers, refining and chemicals, exposing vulnerabilities. While global hydrogen demand exceeded 100 million tonnes in 2025, high costs and infrastructure gaps continue to hinder low-emissions hydrogen growth.
Boards across Middle East are emerging as the most forward-looking and tech-focused globally, leading the world on AI governance. However skills and subject matter expertise remain the region’s biggest barrier to better board decision-making, said an expert.
US President Donald Trump said the United States could restart the war or become the "guardian of the Middle East" and receive 20% of the region's revenues if Iran fails to reach an acceptable agreement on its nuclear programme.
