Herald section
The latest business reporting from The Belfast Herald.
Iran, Iraq, Israel, Kuwait, Qatar, and Syria close their respective airspaces to civilian flights as a precautionary measure, while the UAE partially closes its airspace. Later, the UAE indefinitely suspends all flights from the Al Maktoum and Dubai international airports.
The US president increases the global tariff rate from 10% to 15% under emergency authority, effective 21 February 2026, with a 150-day limit. Exemptions apply to goods under existing trade agreements and certain sectors under separate review.
American e-commerce company eBay announces it will acquire Depop from Etsy for $1.2 billion, merging two of the largest secondhand e-commerce platforms in the world.
UAE-based DP World CEO Sultan Ahmed bin Sulayem resigns and leaves the company with immediate effect amid controversy over his connection to convicted American sex offender Jeffrey Epstein, whom he exchanged hundreds of emails with over a decade.
A one-day strike by Lufthansa pilots and flight attendants disrupted operations, grounding hundreds of flights and affecting nearly 100,000 passengers due to disputes over cost-cutting measures and retirement benefits.
Teaching unions in Northern Ireland have accepted a 4% pay rise for the 2025–26 academic year, backdated to 1 September 2025, with the increase costing the Department of Education approximately £38m in 2025–26 and £65m annually thereafter.
The Philippine agriculture department extends its import ban on sugar until December 2026.
U.S. Customs and Border Protection has filed a proposal to require social media history from applicants to the Visa Waiver Program, including details from the past five years.