
Amazon Halts Shipping to Israel Amid Ongoing Airspace Closure
Rana Atef
Amazon, the American e-commerce giant, has announced the suspension of new orders and deliveries to Israel, due to the country's continued airspace closure following the outbreak of conflict with Iran on June 13.
In an official statement to Israeli consumers, the company said:
'Due to local restrictions beyond our control, we are currently unable to accept new orders or deliver to your area. We will resume our services as soon as conditions allow.'
Israel's Ben Gurion International Airport in Tel Aviv has remained largely closed to both commercial flights and cargo shipments since the escalation began, causing major disruptions to travel and trade.
In recent days, Israeli airlines were permitted to operate limited daily flights to repatriate citizens stranded abroad and assist those looking to leave the country.
This comes as Israel begins preparations to gradually resume airport operations, following the ceasefire agreement with Iran that came into effect earlier this morning. Full restoration of air services will depend on approval from the country's defense establishment.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
China Launches Largest Ever Aircraft Carrier
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Arts & Culture
Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
News
Flights suspended at Port Sudan Airport after Drone Attacks
Videos & Features
Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
News
Shell Unveils Cost-Cutting, LNG Growth Plan
Technology
50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Tahya Masr
2 hours ago
- Tahya Masr
EFG Hermes Successfully Concludes Advisory on Valu's Landmark EGX Listing
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking team has successfully concluded advisory on the listing of Valu and its commencement of trading on the Egyptian Exchange (EGX), under the ticker valu, yesterday . Valu's listing and trading on the EGX was executed through an innovative in-kind dividend distribution, where EFG Holding distributed 20.488% of Valu's share capital to its shareholders, as of the record date, June 12th, 2025, enabling EFG Holding shareholders to directly participate in the growth of one of Egypt's fastest growing fintech platforms. On its debut, Amazon acquired shares representing a 3.95% direct shareholding in Valu for a price per share of EGP 6.041 and the share price witnessed a remarkably positive performance closing at EGP7.4 per share. EFG Finance Holding (EFG Finance), a subsidiary of EFG Holding, will continue to own 67% of Valu post trading and sale of shares to Amazon. Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, remarked, 'Valu's successful debut on the Egyptian Exchange coupled with an investment by global technology heavyweight, Amazon, in Valu is a proud and defining milestone for EFG Hermes. As one of the most recognized and trusted household fintech brands in Egypt, Valu has built a loyal customer base and a resilient, scalable platform for sustainable growth. We are confident in Valu's ability to continue delivering exceptional value to customers and shareholders alike and in Valu having a successful journey as a leading listed company on the Egyptian Exchange. We believe this landmark transaction shall serve as a positive catalyst for the revival of activity on the stock exchange.' Valu's successful listing and debut on the EGX marks not only a milestone for Egypt's fintech sector but also a testament to EFG Hermes' leadership in driving innovation and unlocking value in the region's capital markets. As the investment bank behind this landmark transaction, EFG Hermes continues to play a pivotal role in bringing dynamic, high-growth companies like Valu to the public market. Valu's scalable, customer-centric business model and focus on financial inclusion underscore EFG Hermes' commitment to advancing transformative ventures that shape the future of Egypt's financial ecosystem. EFG Hermes acted as the sole financial advisor for EFG Holding and Valu in the listing and the transaction with Amazon.


Mid East Info
4 hours ago
- Mid East Info
Gold drops as markets cheer Middle East ceasefire – but for how long? - Middle East Business News and Information
By Daniela Sabin Hathorn, senior market analyst at Gold prices are facing renewed pressure as markets cautiously celebrate a declared ceasefire between Iran and Israel. The price of XAU/USD has dropped below its 20-day simple moving average, a key technical indicator, reflecting a shift away from safe-haven assets and into riskier options like equities. The Relative Strength Index (RSI) has also fallen below 50 for the first time since mid-May, when gold saw a deeper correction down to $3,120. Despite the pullback, the move appears to be relatively controlled. Long-term fundamentals supporting gold remain intact, though technical traders are now eyeing the $3,330 level as a key support zone. A decisive move below this threshold could signal a deeper retracement and a change in market sentiment. Gold (XAU/USD) daily chart Past performance is not a reliable indicator of future results. The broader market response to Iran's recent military action has been surprisingly subdued. The attack—targeting a U.S. military base—was expected to rattle investors, yet the global reaction has been more one of tentative relief than alarm. This suggests the strike was largely symbolic rather than escalatory in nature, limiting its impact on financial markets. Adding a layer of finality to the episode, former U.S. President Donald Trump announced that a ceasefire had been reached, dubbing the event the 'Twelve-Day War.' His statement implied that the conflict had effectively concluded, though many geopolitical analysts caution that this may be an overly optimistic interpretation. Prior to the agreement, Trump emphasized the absence of American casualties and praised Iran for issuing a prior warning: 'I want to thank Iran for giving us early notice, which made it possible for no lives to be lost. Most importantly, they've gotten it all out of their 'system,' and there will, hopefully, be no further hate. Perhaps Iran can now proceed to peace and harmony in the region, and I will enthusiastically encourage Israel to do the same.' While intended to calm tensions, these remarks may have unintended political consequences. Public praise from a former U.S. president could weaken Tehran's domestic narrative that the attack was a powerful and deliberate move. Instead, it may appear conciliatory, even orchestrated, potentially undermining the regime's posture both at home and in the broader region. This raises broader questions: Are these confident declarations of de-escalation premature? And how can such a significant event—a direct confrontation many feared might spiral into a regional war—elicit such a subdued response compared to earlier crises? The disparity in global reaction suggests a shifting global perspective. Geopolitical threats may still carry weight, but market participants increasingly appear to differentiate between symbolic posturing and genuine escalation. Whether this ceasefire marks a true turning point or simply a pause in hostilities remains to be seen.


See - Sada Elbalad
6 hours ago
- See - Sada Elbalad
Amazon Halts Shipping to Israel Amid Ongoing Airspace Closure
Rana Atef Amazon, the American e-commerce giant, has announced the suspension of new orders and deliveries to Israel, due to the country's continued airspace closure following the outbreak of conflict with Iran on June 13. In an official statement to Israeli consumers, the company said: 'Due to local restrictions beyond our control, we are currently unable to accept new orders or deliver to your area. We will resume our services as soon as conditions allow.' Israel's Ben Gurion International Airport in Tel Aviv has remained largely closed to both commercial flights and cargo shipments since the escalation began, causing major disruptions to travel and trade. In recent days, Israeli airlines were permitted to operate limited daily flights to repatriate citizens stranded abroad and assist those looking to leave the country. This comes as Israel begins preparations to gradually resume airport operations, following the ceasefire agreement with Iran that came into effect earlier this morning. Full restoration of air services will depend on approval from the country's defense establishment. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean