Saudi Arabia's Flynas Falls In IPO Debut Amid Conflict Jitters
By and Leen Al-Rashdan
Save
Saudi Arabia's Flynas Co. fell in its Riyadh trading debut on Wednesday as the escalating conflict between Israel and Iran reverberates across regional equity markets and pressures airline stocks.
Shares in the low-cost carrier fell 5.6% to 75.50 riyals apiece, while Saudi Arabia's main exchange dropped 0.7% as of 10:03 a.m. The deal was priced at 80 riyals per share last month, the top end of the marketed range which valued the company at 13.7 billion riyals ($3.65 billion).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
35 minutes ago
- New York Times
In Attacking Iran, Israel Further Alienates Would-Be Arab Allies
It wasn't long ago that supporters of burgeoning ties between Israel and Arab countries were promoting Dubai as the epicenter of regional harmony. Israeli influencers were moving to the dazzling Emirati city, which is just a ferry ride away from Iran. Investors were flitting between Dubai and Tel Aviv. Residents of Dubai, the largest city in the United Arab Emirates, are now watching in dread as a regional war arrives at their doorstep, with missiles flying between Israel and Iran. As President Trump mulls entering the fray on the side of Israel, the fear of Iranian retaliation on American military assets in their country looms in the background. Yet despite the Emirati government's deep distrust of Iran, to many in the country there is only one party to blame for the escalating violence: Israel, which launched a devastating attack on Iran last week, igniting the fiercest conflagration in the history of the Israeli-Iranian conflict. 'Now the madman with a gun is Israel, it's not Iran,' said Mohammed Baharoon, the head of B'huth, a Dubai research center. 'I haven't seen any other state, other than Israel, who doesn't want the war to stop.' Since the war began last week with Israeli attacks on Iranian nuclear sites, the Emirates has waived all visa overstay fees for Iranians stranded in the country. On Tuesday, the Emirati ruler, Sheikh Mohammed bin Zayed, called the Iranian president to express 'solidarity with Iran and its people during these challenging times.' That reflects a sharp turn of events over the last five years, as Gulf governments that were once warming to Israel — seen as a potential ally in their battle to contain Iran — have decided that courting Iran with diplomacy is more pragmatic. And as the war in Gaza continues with no end in sight, spreading anger and despair and fanning the flames of unresolved conflicts across the region, many Gulf officials have come to view Israel as the main destabilizing force in the Middle East. Want all of The Times? Subscribe.
Fox News
41 minutes ago
- Fox News
Hostage Families Remain Hopeful As Israel Fights Multiple Wars
On October 7th, 2023, Edan Alexander became one of the many Israelis kidnapped by the terror organization Hamas. Originally born in New Jersey, Edan was serving in the Israeli Defense Force when Hamas terrorists ambushed and captured him. For 584 days, Edan was a hostage in the Gaza tunnels until May 12th, 2025. Edan was freed, and his family says their 'nightmare came to an end.' Edan's father, Adi Alexander, joins the Rundown to describe the terror he and his family experienced while expressing the importance of hope in Israel. Despite the efforts of DOGE and President Trump, America's debt has continued to grow, and with it, the anxiety over paying it off. The President's 'Big Beautiful Bill,' while praised by his supporters, has some within the GOP worried it could strain the debt ceiling even further. Former Director of the Congressional Budget Office and President of the American Action Forum Doug Holtz-Eakin joins to explain how everyday Americans are impacted when our government takes out loans in the trillions and what realistic options are on the table if we want to lower the deficit. Plus, commentary from FOX News Digital columnist David Marcus. Photo Credit: AP Learn more about your ad choices. Visit
Bloomberg
an hour ago
- Bloomberg
Wall Street Fears Hawkish Fed Will Trigger Stock Market Selloff
Not much seems to faze the stock market these days even as risks abound, from war in the Middle East, to trade tensions, to slowing growth. But Wall Street's biggest fear arrives today when the Federal Reserve meeting ends and Chair Jerome Powell explains the central bank's outlook. There's pretty much no expectation that the Fed will reduce interest rates at this meeting after holding steady in the past three instances. But between the so-called dot plot, which outlines where central bankers think the fed funds rate is headed, and Powell's press conference after the meeting, traders expect to have a much clearer idea of what they're thinking.
