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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

DUBAI — Dubai International Airport is open and operating normally today, July 1, with flights moving through all three of its terminals and real-time tracking data showing low delay levels across arrivals and departures, according to Dubai Airports’ official flight information system and independent monitoring services.

Although there had been speculation that the airport would close because of disturbances in the region in 2026, the airport is now fully functional, handling hundreds of flights with only a small number of delays. Airlines, especially Emirates and flydubai, have resumed their normal operations.

That return to normalcy marks the end of a turbulent four-month period during which DXB, the world’s busiest international airport by passenger volume, navigated one of the most disruptive crises in its history, triggered by the outbreak of the U.S.-Iran conflict on Feb. 28 and the near-total closure of Gulf airspace that followed in the weeks thereafter.

Between late March and April 2026, regional airspace closures caused cancellations and flight suspensions for some flights out of Dubai International Airport. During this time, some airlines provided instructions for their passengers not to go to the airport until travel was re-confirmed. These were the disruptions among many in the Middle East, with consequences affecting millions of travelers worldwide, as hub carriers made drastic changes to intercontinental schedules.

The crisis unfolded rapidly. On 2 and 3 June, Iran fired missiles and drones at Kuwait and Bahrain, both of which host U.S. military bases, following a U.S. strike near the Strait of Hormuz. A terminal at Kuwait International Airport was hit, wounding several people and forcing flight suspensions in Kuwait. While Dubai’s airspace was never formally shut down during the conflict’s most intense phases, the European Union Aviation Safety Agency issued a Conflict Zone Information Bulletin ordering European-regulated carriers to avoid UAE airspace entirely, effectively grounding dozens of major international airlines that relied on Gulf routes.

EASA’s Conflict Zone Information Bulletin for the Middle East and Persian Gulf was valid through June 10, 2026. The latest revision had softened the advisory language for UAE airspace from “avoid” to “exercise caution,” but the bulletin remained in force, meaning most European carriers regulated by EASA could not resume Gulf routes until EASA modified or lifted the bulletin entirely.

Throughout the crisis, Emirates and flydubai continued operating, serving as the backbone of connectivity out of DXB even as foreign carrier capacity collapsed. DXB remained open and operating with more than 220 combined daily departures from Emirates and flydubai. Dubai Airports issued an advisory to confirm departure times directly with airlines before traveling, which remained active throughout the disruption period.

The recovery accelerated following the tentative U.S.-Iran ceasefire that took effect April 8, which triggered a series of successive airline reinstatements. British Airways announced it would resume flights to Dubai on July 1, 2026, but at a significantly reduced scale, going from three daily flights to one. This was the first concrete return date named by a major European carrier, described as the clearest signal yet from a major carrier about what the post-crisis landscape looks like. Qatar Airways had already resumed daily Dubai flights from April 23, while Gulf carriers including Saudia also returned to the route around the same time.

Several major airlines continue to maintain regular services to and from Dubai, including routes operated by Emirates, flydubai, Etihad Airways, Qatar Airways, Turkish Airlines, British Airways, Lufthansa, Air India, IndiGo and Singapore Airlines. Flights connecting Europe, Asia, Africa and North America through Dubai remain active, although some carriers may use alternative flight paths to avoid restricted airspace in adjacent regions.

Dubai International Airport operates 24 hours a day, seven days a week across three terminals. Emirates uses Terminal 3. flydubai and regional carriers use Terminal 2. Most other international airlines use Terminal 1, which serves more than 50 international carriers and is connected to Concourse D by an airport train. Passengers are advised to verify their specific terminal assignment with their airline before traveling, as some flights were reassigned to alternative terminals during the disruption period and not all carriers have reverted to their original gate assignments.

The broader scale of what DXB weathered this year becomes clearer when placed against its pre-crisis performance. For the first time ever, DXB became the busiest airport in the world, hosting 95.2 million international passengers in 2025, a record that reinforced Dubai’s status as the central node of global long-haul aviation. The conflict’s disruption to that position cost the airport and the broader UAE tourism sector significantly, even as both have moved quickly to recapture lost ground since the ceasefire allowed operations to normalize.

Dubai Airports recognized the airport had sustained global connectivity through regional disruption and is readying for a return of strong demand as UAE airspace restrictions ease.

For travelers using DXB today, the practical guidance is straightforward: the airport is open, staffed and processing flights normally, but a small number of airlines remain on modified schedules as they work through fleet repositioning and rebooking backlogs accumulated during the disruption months. Security processing times at DXB have stabilized, though passengers on international itineraries are still advised to arrive at least three hours before their scheduled departure, given that heightened security protocols implemented during the conflict remain in place across the facility.

Independent flight tracking services and Dubai Airports’ own real-time departure and arrival boards confirmed Wednesday morning that flights are moving through all terminals without any system-wide delay or closure notice, marking what airport observers are describing as a full return to normal operations for one of the world’s most important aviation hubs.

Shares of Tata Elxsi tumbled as much as 7% to their day’s low of Rs 3,558 on the BSE on Wednesday after competitor KPIT Tech issued a preliminary business update indicating that its financial performance for the first quarter of FY27 will fall short of earlier expectations following a sudden drop in revenue in recent weeks.

The company said it expects its Q1FY27 reported revenue in U.S. dollar terms to decline by around 1% year-on-year compared with Q1FY26. The decline has been primarily attributed to sudden actions by some European original equipment manufacturers (OEMs) following their recent profit warnings and adverse business outlook.

Also read:Why KPIT Tech shares crashed today: The BMW & Volkswagen connection explainedKPIT Technologies and Tata Elxsi are peers in the automotive technology space, developing software and engineering solutions for global automakers and Tier-1 suppliers. Both focus on next-generation mobility technologies, including software-defined vehicles, autonomous driving (ADAS), connected vehicles, electric vehicles, and vehicle electronics and embedded software.

Source of trouble

JPMorgan, which downgraded the stock, connected the dots directly by saying the update largely reflects an earlier profit warning tied to KPIT’s BMW account, compounded by troubles at Volkswagen. BMW is significant to KPIT’s business; the brokerage noted it is its largest client, representing 12% of revenues.

The global brokerage downgraded KPIT to Underweight and slashed its target price to Rs 550 from Rs 700. The brokerage estimated the $ revenue decline implies a steeper 4% quarter-on-quarter drop in constant currency terms, driven by the European OEMs‘ sudden pullback.
It also cut revenue estimates by 5–8% and margin estimates by 20–270 basis points across FY27–29, translating into EPS cuts of 9–22%, while trimming its target price-to-earnings multiple to 17x from 21x. JPMorgan now expects FY27 to mark a second straight year of organic revenue decline, projecting a 2.6% drop versus a 1.4% decline in FY26.
JM Financial also downgraded the stock, moving to REDUCE from ADD. The brokerage cut its FY28–29 earnings estimates by 12–13% and lowered its target multiple to 20x FY28E EPS from 24x, citing a muted near-term outlook. JM Financial said the update pushes KPIT’s recovery timeline further out and that FY27 is likely to be a soft year overall, even as it acknowledged that longer-term client cost pressures could eventually benefit KPIT through higher outsourcing. The brokerage flagged that earnings estimates remain vulnerable to further downgrades.
Read more: KPIT Tech shares crash 17% as company expects Q1 revenue decline, sharp hit to marginsShort term pain for KPIT?
Despite the warning, KPIT maintained that its underlying business remains strong. The company pointed to continued momentum in its products and solutions business, the trucks and off-highway segment, and markets including the US, Korea and India, along with new client wins in passenger vehicles.

It said it is pursuing AI-led productivity and cost-containment measures and remains confident of delivering sequential growth by Q4FY27, setting up a stronger FY28. Both H1FY27 and FY27 as a whole, however, are expected to fall short of earlier expectations.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Good morning! Here’s the latest in trending:

Resolving dispute: U.S. lifts export controls on Anthropic’s (ANTHRO) Claude Fable 5 and Mythos 5.

U.S. IPO: South Korean AI memory chipmaker SK Hynix (HXSCL) files to list its shares on Nasdaq.

Big money: Trump’s 927-page financial disclosure report reveals over $1.4B in crypto-related income.

The deadline for the joint review of the U.S.-Mexico-Canada Agreement is here, and the Trump administration is expected to announce that it will not extend the free trade deal. This could potentially start the process of winding down the 32-year-old North American free trade zone.

What to expect: The deadline for the USMCA’s joint review is today, with trade representatives of the three countries scheduled to meet virtually to decide if the pact should be extended for another 16 years. If they don’t agree on revising or extending the USMCA, the countries will hold annual reviews for the next 10 years. If an agreement is not reached, the pact will expire on July 1, 2036. The USMCA, which replaced the North American Free Trade Agreement in 2020 during Trump’s first term, accounts for about 30% of the world’s GDP. In 2024, trilateral trade totaled around $1.99T. It’s important to note that even if the U.S. decides against renewing the USMCA, this won’t terminate the deal right away.

Mexico’s President Claudia Sheinbaum has called for extending the USMCA for 16 years. Canada also favors extension, but Prime Minister Mark Carney downplayed the possibility of that happening. “We’re expecting a constructive exchange,” he told reporters on Tuesday. “I wouldn’t expect any drama. I’m not looking for my pen.” The U.S. wants to rework the deal with tighter rules of origin for North American-built vehicles, stricter limits on Chinese goods in the region, greater access for U.S. farm exports, among other demands. “I see a prolonged period of negotiation and review likely resulting in a final agreement that looks somewhat like today, but maybe with a couple side-car agreements on rules of origin, supply chains and other issues that the U.S. wants resolved,” said Christian Medeiros, vice president at TD Asset Management.

What’s at stake: Experts flagged the risks of annual reviews over the next decade. “A 10-year expiration window may be a lifetime in politics, but it introduces significant uncertainty for global businesses that make large-scale expansion plans on multi-decade timelines,” wrote Scott Lincicome, vice president of General Economics and Stiefel Trade Policy Center, Cato Institute. “So, on the margins, missing the July 1 deadline will likely reduce North American investment.” He said new rules of origin or labor and environmental conditions would impose new costs on North American businesses. “Compliance costs under USMCA’s existing automotive rules of origin — just documentation, classification and reporting burdens — amount to an invisible 2% tariff on cross-border trade.”

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What else is happening…

Microsoft (MSFT) plans to lay off under 2.5% of workforce.

Brookfield, Bloom Energy (BE), expand AI power partnership.

Apple (AAPL)-Epic Games battle heads to Supreme Court.

Micron Technology (MU) commits $250M to Trump Accounts.

Nike’s (NKE) earnings beat not enough to win over Wall Street.

Michael Burry says he shorted Caterpillar (CAT) for first time.

UK scrutiny for Paramount (PSKY)-Warner Bros. (WBD) deal?

Zyn (PM) can be marketed as a less harmful tobacco product.

Emergency order for largest U.S. power grid as heatwave nears.

Supreme Court upholds birthright citizenship in loss for Trump.

Today’s Markets

In Asia, Japan +0.6%. Hong Kong closed. China +0.4%. India +0.6%.
In Europe, at midday, London -0.4%. Paris -0.6%. Frankfurt +0.4%.
Futures at 6:30, Dow -0.2%. S&P -0.2%. Nasdaq -0.4%. Crude -1.2% to $68.70. Gold -1.1% to $3,995.50. Bitcoin -1% to $58,657.
Ten-year Treasury Yield unchanged at 4.47%.

On The Calendar

Companies reporting today include General Mills (GIS) and FactSet Research (FDS).

See the full earnings calendar on Seeking Alpha, as well as today’s economic calendar.

A mysterious foodborne parasite outbreak has affected at least 145 people across 17 US states, while a separate surge in southeastern Michigan has sickened more than 150 people, health officials said. Investigators from the US Centres for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) believe contaminated food consumed within the country could be behind the infections, but the exact source has not yet been identified.

The illness is linked to Cyclospora cayetanensis, a microscopic parasite that causes cyclosporiasis, a stomach infection that can lead to prolonged diarrhoea and other digestive problems.

What has CDC found in Cyclospora outbreak?

CDC surveillance data shows twenty patients have needed hospital treatment, but no deaths have been reported. Health officials said the outbreak is unusual because none of the infected people reported travelling outside the country before falling sick.
Cyclospora infections in the US are often connected to international travel, but investigators now suspect a food product sold domestically may have caused the current outbreak.

What is Cyclospora?

Cyclospora cayetanensis is a tiny parasite that affects the small intestine and causes an infection called cyclosporiasis. People usually become infected by eating food or drinking water contaminated with human faeces. Unlike some infections, health experts say there is currently no evidence that Cyclospora spreads directly from person to person.

Previous outbreaks in the US have often been linked to contaminated fresh produce, including leafy vegetables, herbs and berries, especially during warmer months.

Cyclospora infection symptoms

Symptoms usually appear around one week after infection. Without treatment, the illness can continue for weeks or even months.Common symptoms include:

• Watery diarrhoea
• Loss of appetite
• Weight loss
• Stomach cramps
• Bloating
• Increased gas
• Nausea
• Fatigue

Some people may also experience:

• Vomiting
• Mild fever
• Headache
• Body aches
• Flu-like symptoms

Doctors usually treat cyclosporiasis with antibiotics. In some cases, symptoms may improve temporarily but return later if treatment is not given.

How can people protect themselves?

Health authorities have advised people to follow basic food safety steps to reduce the risk of infection:

• Wash fruits and vegetables properly under clean running water.
• Use a clean brush to scrub firm produce such as cucumbers and melons.
• Cut away damaged or bruised sections before eating.
• Refrigerate peeled, cut or cooked fruits and vegetables within two hours.
• Avoid food or water that may have been contaminated.
• Seek medical advice if diarrhoea continues or stomach symptoms become severe.

Michigan officials have also advised people suffering from diarrhoea or vomiting to drink enough fluids, especially during hot weather.

Which US states have reported the most Cyclospora cases?

New York has reported the highest number of infections, with 31 to 80 confirmed cases. Illinois and Texas have recorded between 11 and 30 cases each. Other states reporting infections include Alaska, Colorado, Connecticut, Florida, Georgia, Louisiana, Massachusetts, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and Wisconsin. Each of these states has reported between one and 10 cases.

Officials warned that the number of infections could rise as investigations continue and more cases are identified.

Why is Michigan seeing a separate Cyclospora outbreak?

While federal agencies investigate the nationwide cases, southeastern Michigan is facing its own growing outbreak. The Michigan Department of Health and Human Services (MDHHS) said the first case was detected on June 22. Since then, infections have been reported across Monroe, Lenawee, Washtenaw, Wayne, Livingston, Shiawassee and Jackson counties.

More than 150 people have fallen ill, making it one of Michigan’s largest recent Cyclospora outbreaks.

Monroe County has reported dozens of infections, with some patients requiring hospitalisation. Officials are interviewing affected people and reviewing their food histories to find a possible common source.

Has the contaminated food source been identified?

Investigators have not yet found the food item responsible for either outbreak. The CDC said, “Local, state and federal (CDC, FDA) public health authorities are investigating several clusters of cases in more than one state. Investigations to identify potential sources are ongoing.”

Michigan health officials also said they are continuing their investigation.

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ACN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.