April 15: Developing Stories
CLEARING THE AIR
Airlines across the Middle East are resuming operations after canceling or rerouting some flights because of the Iranian missile assault against Israel over the weekend. Emirates, Etihad, Flydubai, El Al and Qatar Airways were among the carriers that took action as several nations closed their airspaces because of the attack, which caused only limited damage. Oil prices, which rose to a six-month high last week on concerns about the widely anticipated attack, retreated in early trading today. Analysts said indications that the conflict won’t escalate regionally and affect oil supplies kept prices from rising. Brent futures for June delivery, the global benchmark, fell 50 cents, or 0.5%, to $89.95 a barrel.
SPRING MEETINGS
Finance ministers and central bankers from around the world are descending on Washington today as the International Monetary Fund and World Bank spring meetings get underway. IMF Managing Director Kristalina Georgieva has warned ahead of the gathering that this decade risks being remembered as the “Tepid Twenties” unless leaders can address policies that spur growth – a tall order amid geopolitical tensions, stalling inflation and ballooning debt. Saudi Finance Minister Mohammed Aljadaan is leading the Kingdom’s delegation that also includes Central Bank Governor Ayman Alsayari. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, is heading the UAE delegation. U.S. Federal Reserve Chair Jerome Powell is set to make remarks on Tuesday and the IMF will release its updated economic outlook for the MENA region on Thursday.