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Israel's equity stocks rise on hopes US strikes may ease Iran conflict
Israel's TA-35 benchmark index advanced 1.5 per cent, posting a sixth successive day of gains and staying on course for the biggest quarterly advance since 2003. Egypt's equity benchmark posted a 2.7 per cent jump.
Other markets in the region recorded modest gains. The Boursa Kuwait Premier Market Index and the MSX30 Index in Muscat added 0.4 per cent each. Qatar's benchmark was 0.2 per cent higher. Saudi Arabia's Tadawul All Share Index fell 0.3 per cent.
'Markets are focused on whether the war spreads to other countries and there is no evidence of that as yet,' said Hasnain Malik, a strategist at Tellimer in Dubai. 'The benign interpretation is that the US intervention will accelerate the end of the war. That, of course, remains to be seen.'
In Israel, bank shares accounted for most of the gains, while defense supplier Elbit Systems Inc. dropped more than 2 per cent.
'The market is displaying cautious optimism against the backdrop of the security reality,' Yaniv Pagot, vice president of trading at Tel Aviv Stock Exchange, said in a note. 'The increases reflect an improvement in the risk premium of the State of Israel.'
Irrespective of early reaction in the Middle East, global investors are bracing for market turbulence that may trigger a dash into haven assets on Monday. Money managers are now watching out for Iran's potential response, including whether it may attempt to block the Strait of Hormuz — a key passage for oil and gas — and whether it attacks US assets in the region.
'Short-term, markets such as crude oil will pivot on whether Iran retaliates and widens the war in a way that impacts oil supply versus backing down and offering concessions on its nuclear program,' Tellimer's Malik said. 'The biggest risk to the region is a collapse of the regime in Iran and a descent into Syrian-style civil war. US intervention may increase the probability of this.'
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Time of India
10 hours ago
- Time of India
Musk's Starlink courts luxury airlines to grow in-flight Wi-Fi business
By Sana Pashankar, Leen Al-Rashdan, Mary Schlangenstein and Kate Duffy For the past three years, Elon Musk has steadily elbowed his way into the booming market for in-flight Wi-Fi, with his Starlink service signing up blue-chip carriers from Air France to Qatar Airways to United Airlines . Alaska Air Group Inc. said on Wednesday it will install Starlink starting next year and Virgin Atlantic in early July reached a deal to use the SpaceX-owned satellite network. Arch-rival British Airways might be not far behind, according to people familiar with the matter, in a deal that would let Musk lock up another flagship airline on the lucrative trans-Atlantic route. But Musk has his eyes on an even bigger prize: the Middle East, home to some of the most trend-setting airlines in the industry and a global connecting hub for long-haul travel. SpaceX has been in conversation with Emirates, the Dubai-based airline that commands the world's biggest long-haul fleet of Boeing Co. and Airbus SE aircraft, Bloomberg has reported. Members of Musk's team have also pitched Starlink to other carriers including Gulf Air and FlyDubai, and are now in advanced talks with Saudia, the region's No. 3 airline, according to people familiar with the matter. Winning business with Middle Eastern airlines, particularly those like Emirates recognized for their luxury brands, would mark a watershed moment in Starlink's global competition against legacy operators like EchoStar Corp., Viasat Inc. and SES SA. Those rivals aren't willing to cede ground without a fight. Instead, they are reworking business plans and pursuing a wave of deal-making as the battle accelerates over a fast-growing slice of the $100 billion satellite communications market. SpaceX has gained a toehold in the global aviation market by delivering the fastest internet connection speeds across the industry using roughly 8,000 satellites. The company offers its Starlink technology through a subscription model in which carriers pay to install the hardware and an additional monthly price for connectivity per seat. For example, putting Starlink onto a Boeing 737 costs about $300,000, while a larger 787 Dreamliner model commands a $500,00 price tag per aircraft, according to a document seen by Bloomberg. Monthly pricing on a per seat basis can vary based on many factors, including the length of the contract a carrier is willing to sign. But in some cases, Starlink has been agreed to sell its service for around $120 monthly per seat, with an additional $120 for live television, one of the people said. Negotiations are still underway and carriers could pursue different strategies, the people cautioned. FlyDubai said it's 'currently assessing different options for connectivity to meet our growth plans.' Gulf Air declined to comment. Saudia didn't reply to requests for comment. Emirates said it's committed to the best in-flight service, while declining to comment on the deal. British Airways' parent IAG declined to comment. In-flight web access was long an offering as exotic as it was unreliable and expensive, both for airlines to install and passengers to use. Many carriers are pushing to provide fast and reliable alternatives, since enabling customer to stream, work and communicate on long flights can be a gamechanger for the cabin experience. Carriers with an eye for marketing have also bathed in the halo effect of Musk's star power. Qatar Airways Chief Executive Officer Badr Mohammed Al-Meer was visibly thrilled to be communicating with the SpaceX CEO by video during a Starlink trial at 30,000 feet last October. Starlink internet 'is only going to get better,' Musk promised at the time. Since then, however, Musk's public standing has shifted from industry disruptor to political iconoclast during his stint as head of the DOGE government-slashing effort under President Donald Trump. That, in turn, has turned off many consumers and has made Musk an increasingly polarizing figure. With the Trump-Musk relationship now fractured, some countries may hesitate to authorize Starlink and thus associate themselves with the SpaceX boss, particularly those that have closely aligned themselves with the US president. 'There's a degree of increased sensitivity to all of this political fallout, as seen in things like the falling sales of Tesla cars,' said technology consultant Tim Farrar, an analyst with TMF Associates. 'Those airlines might hold back a bit longer.' Starlink aviation terminals are cheaper than some rival products, according to William Blair & Co. analyst Louie DiPalma, and require less time to install, according to United Airlines. The Starlink network sends signals to an aircraft just as it does to its other 6 million residential, mobile or maritime active users: A terminal about the size of a pizza box is affixed to an aircraft and connects with a stream of satellites moving across its path roughly 350 miles (about 560 kilometers) above Earth, in what's known as low-Earth orbit, or LEO. By comparison, legacy operators like Viasat and SES have achieved global coverage with a small number of much larger, more powerful satellites about 65 times higher, in geostationary orbit. Because these satellites are more distant from Earth, data has a much longer distance to travel, sometimes leading to sluggish internet connection on flights. But with modern demands for broadband speeds from anywhere, legacy satellite operators are taking a page out of SpaceX's playbook. EchoStar, Viasat and SES have started marketing multi-orbit solutions directly to airlines, pulling together capacity from diversified satellite constellations in geostationary orbits and orbits closer to Earth. In the past few months, Viasat announced deals to power in-flight connectivity with American Airlines and Riyadh Air. Intelsat, acquired in July by SES, announced partnerships with Thai Airways International and planemaker Embraer. A multi-orbit system 'provides resiliency, it provides consistency, it offers the network operator the ability to adapt to changing environments like weather or a concentration of aircraft around certain parts of the world,' said Andrew Ruszkowski, global head of aviation at SES. Other large carriers, including Delta Air Lines Inc. and JetBlue Airways Corp., have so far taken a wait-and-see approach on Starlink. Representatives for each declined to comment on discussions with SpaceX. Their resistance may be explained by SpaceX's own lingering challenges and restrictions as the company races to build out and improve its network. SpaceX and airlines have sparred at the negotiating table over Starlink's demand that carriers offer Wi-Fi free to everyone on board. Starlink has budged on that issue in some cases because airlines have pushed to offer the service only to passengers in their loyalty programs, people familiar with the matter said. Talks are ongoing with other carriers, one of the people said. SpaceX also requires airlines to agree to install the technology on all of their planes before announcing a deal, the people said, a risky gamble particularly for airlines with larger fleets. United's own high-profile bet on Starlink has already hit a snag. In early June, the carrier confirmed it was experiencing issues of static interference with its Starlink system, temporarily shutting off Wi-Fi on two dozen regional planes. United has resolved the issue and installed Starlink on 60 of its regional Embraer planes. Separately, roughly 60,000 customers reported losing Starlink service in an hours-long outage on July 24. The network suffered another broad but relatively brief outage on August 18. Starlink is also not authorized in many countries, meaning carriers may have to shut off the internet before landing, aviation executives said. And the service is certain to face competition from networks set to come online in the next couple of years, like Telesat Corp.'s Lightspeed or Inc.'s Project Kuiper, championed by Musk rival Jeff Bezos. The battle for connected skies is only going to intensify, with unpredictable results. But some executives note Starlink's data speeds are industry-leading, customers seem impressed and Musk has a track record of upending old-school industries, from rocketry to automaking. 'The overwhelming response is that people can't get over how fast it is and how they can stream or FaceTime or Zoom,' said Alex Wilcox, CEO of JSX, which provides Starlink-enabled Wi-Fi to passengers on its 30-seat planes. 'And so I think they're going to run away with the market and deservedly so.'
&w=3840&q=100)
Business Standard
12 hours ago
- Business Standard
BS Infra Summit: CEOs flag key steps for India's airport hub ambitions
Indian airports' push to become global hubs will depend on reducing passenger leakage to rival airports abroad, scaling up direct long-haul connectivity, and offering transfer experiences that are faster, smoother, and more attractive than regional competitors, said Noida International Airport CEO Christoph Schnellmann and Delhi International Airport CEO Videh Kumar Jaipuriar at the Business Standard Infrastructure Summit on Thursday. For India, the ambition to establish its airports as global hubs—similar to Dubai or Singapore—is no longer a distant aspiration but an immediate necessity. Jaipuriar underlined how India's inherent strengths are beginning to show results. 'India has got inherent strength in terms of domestic feed, as pointed out by Christoph. In 2019, possibly only 17–18 per cent of people travelling to Europe or North America were taking direct flights from India. Compared to that, the percentages have improved quite dramatically. Now, close to 40–45 per cent of passengers are going directly to Europe from the Delhi airport,' he said. For Delhi airport, Jaipuriar noted, the first priority has been to win over Indian travellers who might otherwise connect through Gulf or Southeast Asian airports. 'Our initial aim is to become an airport of choice for the Indian traveller. We have been seeing leakage to nearby hubs, which feed on Indian travellers more than any other country around us,' he explained. The ability to reverse that trend depends heavily on government action, particularly in bilateral air service agreements. These pacts determine how many flights each country's airlines can operate to the other's territory, and their structure can either favour or disadvantage Indian carriers. 'We have been working with the government on policy changes. Air service agreements are one such change that the government has been looking at critically, because they should be framed in a manner that supports Indian carriers. Indian airports are there to support by providing infrastructure,' Jaipuriar said. Gulf carriers like Emirates and Qatar Airways have been pressing India to increase bilateral flying rights. The UAE has sought revision of the 2014 agreement, which caps seat entitlements at 66,504 per week for each side. Emirates has exhausted its allocation and has repeatedly voiced frustration at not being allowed to add flights. India has been reluctant to expand these rights, as Middle Eastern hubs like Dubai and Doha primarily channel Indian traffic onward to North America and Europe. At the same time, Indian carriers are inducting wide-body aircraft and expanding their own non-stop long-haul operations, positioning themselves to capture a larger share of outbound traffic. The Delhi airport chief also acknowledged how perspectives within India have shifted in recent years. 'About three or four years back, we probably did not have aspirations to become a hub for Indian airlines. We now have two strong airlines (Air India and IndiGo). So it is very important,' he observed. Jaipuriar stressed that alongside route expansion and policy alignment, passenger experience plays a decisive role in hub creation. 'On the topic of security procedures, the government is already working on making them smoother for transfer passengers using Delhi airport as a transit point. For those waiting, the airports need to create infrastructure that makes their stay more comfortable. We are looking at global brands and facilities to make their stay at Delhi airport more convenient. These are some of the things that government, airlines, and airports need to work on to make a hub,' he said. On his part, Schnellmann, CEO of Noida International Airport, stressed that the battle for hub status cannot be fought in silos. 'If we want to succeed in India with hubs, we must do so not individually as an airport, airline, or government, but as an industry,' he said. Noida International Airport, being built by Zurich Airport International AG, is expected to commence operations soon. Schnellmann argued that India's competitive advantage lies in how well its aviation sector can collaborate to design transfer experiences that stand out globally. 'We do so by working together, and ultimately, in order to win, our 'transfer product' needs to be better in some meaningful way. Better may mean quicker, easier, cheaper, or more luxurious (for premium passengers). If we want to succeed as a hub, we must work together to define these transfer products and make them superior to the alternatives,' he explained. Like Jaipuriar, Schnellmann pointed to India's large and expanding travel market as the foundation on which global ambitions can be built. 'We need to build on the natural strengths we have—a very large domestic market that is willing to travel and wants to travel abroad. That is the way forward,' he said. Indian airports are also gaining confidence, supported by the record aircraft orders placed by domestic carriers to meet surging demand. Airlines have announced historic purchases since 2023. Air India Group ordered 470 aircraft in February 2023—250 from Airbus and 220 from Boeing. IndiGo followed in June 2023 with the world's largest-ever single order of 500 A320neo family planes from Airbus. In January 2024, Akasa Air placed an order for 150 Boeing 737 Max jets, while IndiGo expanded further with an order for 30 A350 aircraft in April. Air India added 10 A350s and 90 A320 family planes in December 2024. Most recently, in June 2025, IndiGo ordered 30 more A350 wide-body planes from Airbus to strengthen its long-haul network for the coming decade.
Time of India
14 hours ago
- Time of India
Musk's Starlink courts luxury airlines to grow in-flight wi-fi business
Advt Advt For the past three years, Elon Musk has steadily elbowed his way into the booming market for in-flight Wi-Fi, with his Starlink service signing up blue-chip carriers from Air France to Qatar Airways to United Airlines Alaska Air Group Inc. said on Wednesday it will install Starlink starting next year and Virgin Atlantic in early July reached a deal to use the SpaceX-owned satellite British Airways might be not far behind, according to people familiar with the matter, in a deal that would let Musk lock up another flagship airline on the lucrative trans-Atlantic Musk has his eyes on an even bigger prize: the Middle East, home to some of the most trend-setting airlines in the industry and a global connecting hub for long-haul has been in conversation with Emirates, the Dubai-based airline that commands the world's biggest long-haul fleet of Boeing Co. and Airbus SE aircraft, Bloomberg has of Musk's team have also pitched Starlink to other carriers including Gulf Air and FlyDubai, and are now in advanced talks with Saudia , the region's No. 3 airline, according to people familiar with the business with Middle Eastern airlines, particularly those like Emirates recognized for their luxury brands, would mark a watershed moment in Starlink's global competition against legacy operators like EchoStar Corp., Viasat Inc. and SES rivals aren't willing to cede ground without a fight. Instead, they are reworking business plans and pursuing a wave of deal-making as the battle accelerates over a fast-growing slice of the $100 billion satellite communications has gained a toehold in the global aviation market by delivering the fastest internet connection speeds across the industry using roughly 8,000 satellites. The company offers its Starlink technology through a subscription model in which carriers pay to install the hardware and an additional monthly price for connectivity per example, putting Starlink onto a Boeing 737 costs about $300,000, while a larger 787 Dreamliner model commands a $500,00 price tag per aircraft, according to a document seen by pricing on a per seat basis can vary based on many factors, including the length of the contract a carrier is willing to sign. But in some cases, Starlink has been agreed to sell its service for around $120 monthly per seat, with an additional $120 for live television, one of the people are still underway and carriers could pursue different strategies, the people cautioned. FlyDubai said it's 'currently assessing different options for connectivity to meet our growth plans.'Gulf Air declined to comment. Saudia didn't reply to requests for comment. Emirates said it's committed to the best in-flight service, while declining to comment on the deal. British Airways' parent IAG declined to web access was long an offering as exotic as it was unreliable and expensive, both for airlines to install and passengers to carriers are pushing to provide fast and reliable alternatives, since enabling customer to stream, work and communicate on long flights can be a gamechanger for the cabin with an eye for marketing have also bathed in the halo effect of Musk's star power. Qatar Airways Chief Executive Officer Badr Mohammed Al-Meer was visibly thrilled to be communicating with the SpaceX CEO by video during a Starlink trial at 30,000 feet last October. Starlink internet 'is only going to get better,' Musk promised at the then, however, Musk's public standing has shifted from industry disruptor to political iconoclast during his stint as head of the DOGE government-slashing effort under President Donald Trump. That, in turn, has turned off many consumers and has made Musk an increasingly polarizing the Trump-Musk relationship now fractured, some countries may hesitate to authorize Starlink and thus associate themselves with the SpaceX boss, particularly those that have closely aligned themselves with the US president.'There's a degree of increased sensitivity to all of this political fallout, as seen in things like the falling sales of Tesla cars,' said technology consultant Tim Farrar, an analyst with TMF Associates. 'Those airlines might hold back a bit longer.'Starlink aviation terminals are cheaper than some rival products, according to William Blair & Co. analyst Louie DiPalma, and require less time to install, according to United Starlink network sends signals to an aircraft just as it does to its other 6 million residential, mobile or maritime active users: A terminal about the size of a pizza box is affixed to an aircraft and connects with a stream of satellites moving across its path roughly 350 miles (about 560 kilometers) above Earth, in what's known as low-Earth orbit, or comparison, legacy operators like Viasat and SES have achieved global coverage with a small number of much larger, more powerful satellites about 65 times higher, in geostationary these satellites are more distant from Earth, data has a much longer distance to travel, sometimes leading to sluggish internet connection on with modern demands for broadband speeds from anywhere, legacy satellite operators are taking a page out of SpaceX's Viasat and SES have started marketing multi-orbit solutions directly to airlines, pulling together capacity from diversified satellite constellations in geostationary orbits and orbits closer to the past few months, Viasat announced deals to power in-flight connectivity with American Airlines and Riyadh Air . Intelsat, acquired in July by SES, announced partnerships with Thai Airways International and planemaker Embraer.A multi-orbit system 'provides resiliency, it provides consistency, it offers the network operator the ability to adapt to changing environments like weather or a concentration of aircraft around certain parts of the world,' said Andrew Ruszkowski, global head of aviation at large carriers, including Delta Air Lines Inc. and JetBlue Airways Corp., have so far taken a wait-and-see approach on Starlink. Representatives for each declined to comment on discussions with resistance may be explained by SpaceX's own lingering challenges and restrictions as the company races to build out and improve its and airlines have sparred at the negotiating table over Starlink's demand that carriers offer Wi-Fi free to everyone on board. Starlink has budged on that issue in some cases because airlines have pushed to offer the service only to passengers in their loyalty programs, people familiar with the matter said. Talks are ongoing with other carriers, one of the people also requires airlines to agree to install the technology on all of their planes before announcing a deal, the people said, a risky gamble particularly for airlines with larger own high-profile bet on Starlink has already hit a snag. In early June, the carrier confirmed it was experiencing issues of static interference with its Starlink system, temporarily shutting off Wi-Fi on two dozen regional planes. United has resolved the issue and installed Starlink on 60 of its regional Embraer roughly 60,000 customers reported losing Starlink service in an hours-long outage on July 24. The network suffered another broad but relatively brief outage on August is also not authorized in many countries, meaning carriers may have to shut off the internet before landing, aviation executives said. And the service is certain to face competition from networks set to come online in the next couple of years, like Telesat Corp.'s Lightspeed or Inc.'s Project Kuiper, championed by Musk rival Jeff battle for connected skies is only going to intensify, with unpredictable results. But some executives note Starlink's data speeds are industry-leading, customers seem impressed and Musk has a track record of upending old-school industries, from rocketry to automaking.'The overwhelming response is that people can't get over how fast it is and how they can stream or FaceTime or Zoom,' said Alex Wilcox, CEO of JSX, which provides Starlink-enabled Wi-Fi to passengers on its 30-seat planes. 'And so I think they're going to run away with the market and deservedly so.'
