Flights again halted to Israel after Houthi missile lands near airport
By Steven Scheer
JERUSALEM (Reuters) -European and U.S. carriers cancelled flights for the next several days after a missile fired by Yemen's Houthi rebels on Sunday landed near Israel's Ben Gurion Airport, the country's main international travel gateway.
Many foreign airlines subsequently suspended flights to and from Tel Aviv after the missile hit, sending a plume of smoke into the air and causing panic among passengers in the terminal building.
Following a ceasefire deal with Palestinian militant group Hamas in January, foreign carriers had begun to resume flights to Israel after halting them for much of the last year and a half since the Oct. 7, 2023 Hamas attack.
That left flag carrier El Al Airlines - along with smaller rivals Arkia and Israir - with a near monopoly. El Al's shares rose 7%, while Israir gained 4.1% in a flat broader Tel Aviv market on Sunday.
Delta Air Lines said it cancelled Sunday's flight from JFK in New York to Tel Aviv and the return flight from Tel Aviv on Monday. United cancelled its twice daily flights between Tel Aviv and Newark while it monitors the situation.
Earlier, flights from Tel Aviv on Delta and United on Sunday morning departed about 90 minutes late.
Lufthansa Group, which includes Lufthansa, Swiss, Brussels and Austrian, said it had halted flights to and from Tel Aviv through Tuesday due to the current situation.
ITA said it had cancelled flights from Italy to Israel through Wednesday, while Air France cancelled flights on Sunday, saying customers were transferred to flights on Monday. TUS flights to and from Cyprus were cancelled through Monday, while Air India flights from New Delhi were halted on Sunday.
Ryanair suspended flights on Sunday but flights are still scheduled for Monday, according to the Israel Airports Authority. Wizz also halted flights.
"I'm afraid it's going to be very difficult to go back to France because all European carriers, from what I see on the information (board), have cancelled. Lufthansa have cancelled, Swiss have cancelled, Brussels (Airlines), so no connection is possible," said Michael Sceemes, 56, whose Air France flight was cancelled.
Aegean, flydubai and Ethiopian did not cancel flights.
El Al said it would reintroduce rescue flights to Israel from Larnaca and Athens for passengers stranded by foreign carriers at a cost of $99 and $149, respectively.
Udi Bar Oz, head of Ben Gurion Airport, said the airport was up and running less than 30 minutes after the missile hit a road nearby.
Claiming responsibility for the strike, the Houthis' military spokesperson, Yahya Saree, said Israel's main airport was "no longer safe for air travel".
The Houthis, who control swathes of Yemen, began targeting Israel and Red Sea shipping in late 2023, during the early days of the war between Hamas and Israel in the Gaza Strip.
U.S. President Donald Trump in March ordered large-scale strikes against the Houthis to deter them from targeting commercial shipping in the Red Sea.
Prime Minister Benjamin Netanyahu vowed to respond to the Houthis. "We attacked in the past, we will attack in the future ... There will be more blows," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
EU plan would limit Chinese device makers in Europe
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. European Union member states this week voted to support a plan to adopt measures that would restrict Chinese medical device makers' access to the EU market. The member states took the action, under the EU's International Procurement Instrument, after concluding an investigation in January that looked at China's practices in the public procurement market for medical devices. The investigation found that government practices unfairly encouraged Chinese hospitals to choose domestic manufacturers' products. 'The Commission has identified measures and practices in the Chinese procurement market that lead to discrimination against EU operators and EU-made supplies,' Olof Gill, commission spokesperson, said Thursday in an emailed statement. 'This discrimination also harms both the Chinese healthcare infrastructure, which is deprived of quality equipment, and EU businesses, with a high cost in terms of jobs and economic activity in the EU.' The commission has discussed its concerns with Chinese authorities. However, a satisfactory solution has not been proposed, and the EU had no other option than to tackle the issue through an IPI investigation, Gill wrote. The commission said it could not disclose the content of the draft IPI measure or next steps in the process. Chinese manufacturers would be prohibited from bidding on public procurement contracts worth more than 5 million euros for five years. In addition, no more than 50% of a contract's value may be subcontracted to Chinese entities or include Chinese-origin medical devices, MedTech Europe said in a statement. The trade group said it would provide further updates once the IPI measures are published in the EU's official journal. The EU investigation into China's medical device procurement practices was the first use of the IPI, which was introduced in 2022. Getting fair access to Chinese markets became more challenging for medical device companies after the country launched a program calling for domestically produced medical equipment to achieve 50% market penetration in county-level hospitals by 2020 and 70% by 2025, according to a statement from the European Chamber, which represents European businesses in China. European and Chinese leaders will meet in July at a summit in Beijing. Recommended Reading EU mulls retaliation after showing China's bias against foreign device firms Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Trading Day: Markets rise above the fray
ORLANDO, Florida (Reuters) - - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist For all that the uncertainty around Washington's global tariff war and worrisome U.S. fiscal outlook continue to unnerve investors, not to mention the Trump-Musk public mud-slinging circus, world markets just closed out a quietly impressive week. Broad U.S., Asian, European and emerging market equity benchmarks all rose, pushing the MSCI World index to a fresh record high, while the dollar, Treasury yields and gold generally held steady over the week. Of course, these broad sweeps mask some notable price moves in certain assets, such as Tesla's 14% share price crash on Thursday, Treasury yields spiking up to 15 basis points on Friday after the latest nonfarm payrolls data, or the dollar sliding to within touching distance of a new three-year low on Thursday. Investors appear to be in a forgiving mood, willing to trust that policymakers will dial down global trade tensions, slow the U.S. fiscal train as it approaches the cliff edge, and steer the world economy through these choppy waters with minimum damage. Investors faced several key monetary policy crosswinds this week. The Bank of Canada stood pat and the European Central Bank cut rates by a quarter of a percentage point, but their guidance was seen as relatively hawkish. The Canadian dollar and euro both strengthened. On the other hand, Switzerland's slide into deflation ups the ante on the Swiss National Bank and traders are betting on a return to negative interest rates by the end of the year. Meanwhile, the Reserve Bank of India on Friday cut rates by more than expected. Fed officials mostly continue to hold the line that uncertainty around tariffs and their impact on growth and inflation is so high that the central bank is firmly in the 'wait and see' camp. If the Fed is to resume its easing cycle, it won't be until October, according to rates futures market pricing. With global central banks perhaps entering a summer pause, focus will intensify on the Trump administration's trade deal negotiations with major trading partners like China and Europe ahead of July 9, when Washington's pause on reciprocal tariffs expires. U.S. President Donald Trump indicated that his 90-minute telephone call with China's Xi Jinping on Thursday was friendly, and there were lots of smiles in his meeting later that day in the Oval Office with German Chancellor Friedrich Merz. But ultimately, the call with Xi yielded nothing concrete, although U.S.-China talks will take place in London next week. And it is through the 27-nation European Union that any deal with Germany will be reached, not bilaterally. There are so many moving parts on Washington's tariff board, including but not restricted to: sector tariffs, reciprocal tariffs, bilateral negotiations with dozens of countries, and court rulings and counter rulings. It's a little surprising, perhaps, that investors' glass is half full. I'd love to hear from you, so please reach out to me with comments at . You can also follow me at @ReutersJamie and @ This Week's Key Market Moves * The Tesla rollercoaster. Shares in Elon Musk's EVcompany fell 15%, wiping $155 billion off its market cap. Sharesare down 27% this year, the most of the world's top 20companies, wiping $330 billion off its value. * The S&P 500 closes above 6000 points for the first timesince February, and the Nasdaq rises more than 2% for a secondweek despite Tesla's tumble, indicating an otherwise solidrevival in U.S. AI/tech. Global stocks hit a record high withthe MSCI World index up 1.5% on the week. * Precious metals shine. Silver rises nearly 10%, its bestweek since September, climbing to a 13-year high of $36/ also up 10%, for a second week in three. * U.S. crude oil futures rise 6% to trade above $64/bbl,the biggest weekly rise since September, on supply concerns andhopes of a thaw in U.S.-Sino trade tensions. * U.S. bond yield curves flatten, led by selloff at theshort end, retracing some of the recent steepening. 2s/10s curveflattens 11 bps this week, the most since February. Chart of the Week Again, two charts for you this week, both on tariffs. The first shows how much tariff-related turmoil the S&P 500 has navigated since Trump was sworn in. In many ways, it's remarkable that the index is up on the year. The second is based on a New York Fed survey published this week showing how U.S. firms are passing on price increases to customers. Most strikingly, almost half of services companies are passing on 100% of the tariffs. Here are some of the best things I read this week: 1. U.S. Outlook: Unsure - Mark Zandi 2. King Trump vs. the Bond Market - Kenneth Rogoff 3. America's Retreat Is Europe's Big Opportunity - PinelopiKoujianou Goldberg 4. US tariffs and global inflation - Robin Brooks 5. How Should Europe Respond to King Donald? - Brad Setser What could move markets on Monday? * Japan GDP (Q1, final) * Japan trade, current account (April) * China PPI and CPI inflation (May) * China trade (May) * Taiwan trade (May) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. (Writing by Jamie McGeever; Editing by Marguerita Choy)
Yahoo
an hour ago
- Yahoo
The most volatile major currencies in 2025
2025 has proven to be an unusually volatile year for foreign exchange movements. The Trump administration and ongoing conflicts have led to frequent exchanges between world leaders and policymakers, while record-high tariffs are affecting global trade more significantly than we have seen since the 2000s. Since 2020, the world has seen many disturbances compared to a much more geopolitically stable first part of the millennium. Between COVID-19, new conflicts around the globe, unprecedented central bank policies, and trade wars, there is a lot to digest for economists and individuals. However, for traders, with volatility comes opportunity. OANDA dives into major currencies that have seen the most volatility since the beginning of 2025. The euro once again attracted significant attention from the markets. After the Trump administration decided to impose a policy of U.S. exceptionalism on the rest of the world, European politicians showed a strong response. Particularly after a heated exchange between President Donald Trump and Ukrainian President Volodymyr Zelenskyy, European representatives issued strong statements. French President Emmanuel Macron, EU President of the Commission Ursula von der Leyen, and other European leaders successively spoke up and showed cohesiveness to tackle a more distant American partner. This led to a significant reversal of a six-month downtrend in the euro versus other currencies. Germany, Europe's largest economy, also announced a significant spending bill in March 2025, pledging $565 billion to an unforeseen infrastructure plan. Markets are seeing signs of Europe's strength with such policies, which underpin euro strength in the first part of this year. The euro has been on an impulsive move up since the beginning of Q2 2025 and formed an ascending daily channel after its March-end consolidation. The April 2, 2025 Liberation Day, when Trump announced his tariffs, led to weakness in the U.S. dollar and underpinned the euro in April to break through prior resistance at 1.0930, which then turned into support. Prices for the EUR/USD pair soared to levels unseen since November 2021. A tweezer top bearish candlestick pattern toward April 21 led the euro to correct back toward the low of the channel and eventually broke its support at the bottom line of the main ascending channel. The medium term outlook still looks bullish as long as prices are maintained above the pivot zone—situated between 1.1070 and 1.1130—that served to slow down the April breakout move. For bullish continuation, look for a break above the 1.14 psychological level and a re-entry into the ascending channel. For a further bearish reversal, look for a close below the pivot zone around 1.1050. The yen has had quite a volatile performance in the past few years. The Bank of Japan has been stuck in a dovish stance, particularly in the past 13 years, notably with its infamous Yield Curve Control policy. Installed in 2012, this policy aimed to maintain low interest rates on their yield curve, which is made to stimulate a sluggish economy that hasn't seen much improvement since their dominant 90s decade—particularly when it pertains to a quasi non-existent inflation, much needed for GDP growth. This policy has led to a substantial depreciation of the yen relative to other currencies. Effectively, since the beginning of global hike cycles led by central banks, the USD/JPY has gone from 102.53 in January 2021 all the way to highs of 161.95 attained in July 2024. Since then, a more dovish stance by central banks supplemented by a weaker U.S. dollar bolstered the yen, which is now trading around the 145 handle. Since the start of 2025, with frantic American policies, the yen has appreciated by 7.7%, though it remains volatile. The yen has found buying momentum after tumultuous price action. USD/JPY has been in a downtrend since the beginning of 2025 with consistent lower highs. Prices eventually corrected in March, when the downside pressure materialized on the U.S. dollar against the JPY. These lows serve to form a daily descending channel. April and Liberation Day also served as a support for the yen, as prices extended their moves lower to an extreme of 139.86 attained on April 21, 2025—levels unseen since September 2024. From these prices, the yen found sellers again (buying USD/JPY) with a swift reversal all the way to the pivot zone that served as a magnet for prices. The zone is established between 147.10 and 148.50. A move below that would imply a bearish continuation, which can be confirmed if prices enter back into the descending channel below the major support at 146.50. On the other end, to pursue the reversal move, bulls would be looking to break and close above 148.50, looking to extend toward the major resistance at 151.20. The greenback has had a powerful performance at the beginning of this decade. Between ever-so-strong U.S. companies powered by record highs in most major U.S. indices, the advent of artificial intelligence technology, and an economy that has sustained one of the fastest hiking cycles in its history, the U.S. has asserted its economic dominance. From September 2024 to Trump's ascension to the White House, the dollar has shown a stellar increase of close to 10% against its major counterparts. Though, as mentioned earlier, the Trump administration has scared global markets, and fears of the United States backing off from the international scene have made the dollar give back its year-end run. After the May 7, 2025 meeting, a more hawkish than expected Federal Reserve has stopped the bleeding from the U.S. dollar, which gave it some strength. The markets now await further news concerning tariffs and a potential continuation of the cutting cycle in upcoming FED meetings. Looking back at July 2024 serves a decent purpose for the dollar index. Effectively, the USD was in bearish momentum from July 2024 to October 2024, as markets started to price in the Trump victory in the U.S. elections, which led to a swift reversal. The rally began with very few corrections and lasted until its inauguration speech in January 2025, with highs at 110.14. The end of the impulsive bullish move formed the head of an infamous head and shoulders pattern. The right shoulder was formed in March 2025, as markets feared that unprecedented tariffs would isolate the greenback—this price action sent bearish fears and led to a breakdown below a precedent pivot level at 103.250. A further breakdown led to a swifter slump, which stopped at a measured move from the neckline, on Liberation Day at 101.27. There was a continuation of this move as the index found a bottom at 97.94 on April 21, 2025. Since then, prices have reverted toward the last pivot at 101.750. The trend is now unclear as prices are close to precedent confluence zones. A further continuation of this bullish reversal in the DXY points at the next resistance of 103.25. For a resumption of the downtrend, bears would look to break below the psychological level of 100.00 and the ascending trendline formed in the reversal. The British pound has a case of its own. After a strong hiking cycle, similar to other central banks in the U.S. and the EU, economic activity has remained fairly strong. The Bank of England has been reluctant to cut interest rates due to a mix of factors, including persistent inflation (particularly in the services sector). This gave the pound a fundamental advantage relative to the euro, for example, where stronger interest rates allow for a better yield and support currency strength. Furthermore, the U.K. Prime Minister Keir Starmer has maintained particularly strong relations with Trump, which has allowed to limit overall tariff uncertainty and led to the conclusion of a U.S.-U.K. Trade Deal. The pound has been holding firm against the greenback and its other major counterparts. Particularly since 2025, cable has been in a rally from 1.2098 all the way to 1.3440, highs attained in the last days of April, where a tentative breakout was found with a slight reversal. Since the end of April, prices have been consolidating toward the highs of the daily ascending daily channel and remain not more than 2000 pips from the highs, a minimal correction relative to moves in other currencies. A small daily head and shoulders pattern can be identified, though it would need a break below the psychological level of 1.32. Bears can then look toward the 1.30 level and its confluence with the bottom of the ascending channel. On the other hand, bulls would be looking for a push toward the highs of the channel which also coincide with the April 2025 highs—further confirmation as long as prices do not fall below the pivot level of 1.32. The Loonie has had a rough year-over-year performance. From March 2022 to July 2023, the Bank of Canada engaged in a hiking cycle that was even faster than the one made by its historic trade partner and neighbor due to exceptionally strong inflation. In 2024, the more cyclical Canadian economy was affected by higher rates, lower energy prices, and political turmoil, sending the Canadian economy into a slump that has accelerated its cutting cycle—resulting in signs of a significantly weaker Canadian dollar. USD/CAD went from 1.31 in January 2024 to a spike of 1.47 in February 2025. On a year-to-date perspective, though, the CAD has recovered from its weakness in February when fears of record U.S. tariffs were announced. Factually, U.S. and Canada trade tensions increased notably, with the U.S. president calling its northern neighbor 'the 51st State' and menaces of +100% rises in energy tariffs were announced by Canadian counterparts. Recently elected Prime Minister Mark Carney has engaged in discussions relating to tariffs, immigration, and other key subjects with the United States, which remains Canada's most strategic partner. This has reduced uncertainty and volatility in the pair. Furthermore, the new Canadian prime minister was once head of both the Bank of England and the Bank of Canada, which may have contributed to some strength in the CAD. USD/CAD has been volatile in the past year, to say the least. Similar to the move seen in the DXY, the pair has seen a relentless rally with few corrections. The rally found its base after a double bottom in October 2024. Prices moved from 1.3445 to 1.4650, where they consolidated in a 2000 pip range between December 2024 and February 2025. As explained earlier, fears of record-high tariffs led to a massive gap in the loonie on Feb. 3, 2025, where it found some relief. Prices moved toward 1.41650 and formed a more volatile range, as prices eventually broke support after Liberation Day. Since the beginning of April, the Canadian dollar found buyers (sellers of USD/CAD), though prices consolidated toward the most recent pivot of 1.37800 and saw a 2000 pip reversal. Canadian dollar aficionados would now be looking for a fall to the lows established by the pivot, with continuation on a breakout on the downside. However, a break above the key 1.4000 medium-term psychological level may see the resurgence of USD/CAD bulls for the next resistance to come in at 1.4155. 2025 has been a rollercoaster year for financial markets. Trump and his infamous tariff policies concern economic players, as reviewing supply chains creates swift changes in monetary flows. Q1 of 2025 was a test of strength for currencies that were mostly weaker against the U.S. dollar in previous years. The theme of U.S. economic activity being stronger than the rest of the world is one of the past. Markets are now looking forward to who might be the winners of these trade wars. This article is for general information purposes only, not to be considered a recommendation or financial advice. Past performance is not indicative of future results. Opinions are the author's; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. This story was produced by OANDA and reviewed and distributed by Stacker. Sign in to access your portfolio
