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Political parties in Morocco are intensifying campaign efforts before legislative elections on September 23, which will ultimately decide Morocco’s next government.

Twenty-seven political parties are competing for 395 seats in the House of Representatives and the vote comes at a crucial time for the country.

Rising living costs, pressure on public services, and high youth unemployment – currently at 37.3 percent for Moroccans aged 15 to 24 – are all issues being hotly debated.

Party headquarters across Morocco and sites at packed city neighbourhoods and markets have been transformed into electioneering operation rooms. Campaign teams navigate crowded streets with loudspeakers, music, and leaflets to catch the attention of Morocco’s 15.8 million registered voters.

“We choose communication locations carefully; we start from a field map where we define the spaces where citizens meet naturally, then we divide the team according to tasks between direct communication and recording observations,” al-Wali al-Shtouki, campaign manager for the Justice and Development Party (PJD) in the Medina-Sidi Youssef Ben Ali district, told Al Jazeera.

“We also hold small meetings at the headquarters because they allow a calm and direct dialogue to understand what the citizen actually expects. What we hear in the field is what guides our daily work. After every tour or meeting, we collect observations and repeated questions and discuss them within the team, then we distinguish between local issues that need follow-up and those related to public policies and parliamentary work.”

While physical headquarters serve as hubs for election campaigns, a party’s success ultimately relies on its roots within a community, Jawad al-Shafdi, head of the Moroccan Observatory for Political Participation, said.

“In the Moroccan case, the strength of the candidate, their local extension, their network of relationships, and their electoral record also play essential roles,” al-Shafdi told Al Jazeera.

“We may find a party with limited organisational presence in a specific district achieving a significant result thanks to a strong candidate, and vice versa. Winning votes is achieved through a more complex system that combines party organisation, candidate strength, local extension, networks of elected officials, direct and digital communication, in addition to the party’s image and political offering.

“Therefore, the true criterion is not the number of people who enter the headquarters, but its ability to convert organisational movement into electoral mobilisation, mobilisation into votes, and votes into seats.”

Digital, direct engagement

The competition has forced political groups to adopt multi-channel strategies that balance street-level outreach with digital campaigns to reach a broader audience.

Fatima al-Tamni, a candidate for the Left Alliance in the Ain Sebaa – Hay Mohammadi district in Casablanca, highlighted the necessity of direct engagement with voters rather than superficial campaign displays.

She believes that party campaigns should serve as a space to listen to the concerns of the electorate and propose solutions, while building a strategic vision for transport, housing, pollution and other issues.

“We do not want to speak to the citizen from above, nor turn the campaign into a festival of pictures and slogans… We want to speak with them in clear language, and hear from them before we speak in their name,” she said. “[It] is not an end in itself, but the beginning of a new political relationship with citizens based on clarity, accountability, and fulfilling commitments.”

Youssef Ait Sidi Said, a political activist with the Progress and Socialism Party in the Chichaoua province, said campaigning remains an evolving process.

“For the party, this campaign is no longer just a specific period to introduce candidates and the electoral programme, but has become an opportunity for direct and continuous communication with the population and listening to their concerns and expectations,” Ait Sidi Said told Al Jazeera.

“Digital platforms allow reaching broad groups, especially youth, and grant them the possibility to interact, ask questions, and express their opinions. However, we do not consider that digitisation can replace direct communication. On the contrary, we see that each tool has its function.”

Ultimately, direct engagement with voters should remain the hallmark of party campaigns, he said.

“Field communication allows direct listening to the citizen, while digital platforms allow expanding the reach, interaction, and documenting activities,” Ait Sidi Said added.

A weekend in Europe might seem like an expensive option in the run up to Christmas, but these festive weekend breaks could be cheaper than the train fare to another UK city and offer unforgettable Christmas market experiences

While the UK has some great Christmas markets, the ones found in Europe tend to be bigger and more traditional. If you’re dreaming of drinking mulled wine and wandering around wooden chalets to buy gifts, you don’t need to drain your bank account to enjoy a festive weekend away.

Here are some Christmas market breaks coming in at around £100 per person. Prices are correct at the time of going to press, but can change, especially air fares which are likely to become more expensive as the Christmas dates book up.

Christmas in Tivoli – Copenhagen – £96.50

Many Christmas markets are set in town squares, but Christmas in Tivoli takes over Copenhagen’s historic amusement park, turning it into a winter wonderland. Its beautifully decorated gardens are full of wooden stalls, often dusted with snow, and there are festive rides, freshly-baked Danish treats, and serious hygge vibes. Head to Christmas in Tivoli for its opening weekend, November 13, and you can take return flights from Bristol for £56 on Ryanair.

With just a two hour flight time it’s perfect for a weekend break, and you can return on Sunday to avoid taking extra annual leave. Generator Copenhagen is about a 15-minute walk away, or a quick metro ride, and has a lively bar, restaurant, and terrace. Stays start at £23.81 for a dorm. Another unique option, if you’d like a little more privacy, is the Urban Camper Hostel, which has indoor tents that come with twin or double beds and lockers. Prices start at £40.50 per person for the weekend based on two sharing. If you prefer a hotel, you can find stays from £82 for two nights with Kayak.

Spitalerstrasse Christmas Market – Hamburg – £99.34

If traditional Christmas markets are your thing you can’t go wrong with Spitalerstrasse in Hamburg, which is basically a blueprint for every festive city centre event in Europe. Wooden chalets line the streets, vendors sell gingerbread, bratwurst, and mugs of glühwein, and it’s all set amid a backdrop of glorious medieval buildings covered in twinkly lights.

Hamburg has fewer options for direct flights from the UK – only London and Manchester offer this route – but there are bargains to be found. For example, if you travel between November 20 and 22, a return from London-Stansted costs £48, and the 90 minute flight time makes it perfect for a weekend away.

Next to Hamburg’s central station is the Generator Hamburg has basic dorms from £25.67 a night. Other budget options in the centre include the unique CAB20, which offers inexpensive cabin-style rooms for £164 for two nights based on two sharing.

Plaza Mayor Christmas Market – Madrid – £84.50

Enjoy Christmas with a Spanish flair at the Plaza Mayor Christmas Market, which runs from late November to December 31. The Spanish capital’s stunning historic square is the perfect backdrop for more than 100 red stalls, lit by fairy lights, where you can buy handcrafted nativity figures, unique decorations, and gifts. Enjoy freshly roasted chestnuts, turrón nougat, or churros with proper hot chocolate.

The cool weather means December tends to be an inexpensive time to visit Madrid, and if you fly from Bristol on Friday December 4, coming back Sunday, you can pick up flights from £38. If you’d like to stay in the city centre, one option is the Capsule Inn Madrid where couples can share a double capsule for £93 for two nights. Although it’s an extremely cosy space so you’d need to ensure you don’t fight at the airport before arriving.

Campo Santo Stefano Christmas Market – Venice – £94.56

Venice’s Campo Santo Stefano Christmas market kicks off on November 17, so it’s perfect for an early festive break. Stick to November dates and you can avoid the tourist crowds, and browse a wide range of Italian and European Christmas foods, artisan gifts, and canals lined with lights.

You can book flights from November 27 to 29, departing London-Luton on Wizz Air from £43, while the Generator Venice , housed in a historic building on Giudecca Island, has beds from £25.78 a night on those dates. Giudecca Island is about a 20-minute walk to the Christmas market, taking you across Venice’s bridges, or you can take a boat and enjoy the festive canal views. Meanwhile on Skyscanner you can find hotels with stays from £92 for two nights over a December weekend.

RAW Christmas Market – Berlin – £109.94

Berlin’s RAW Christmas Market is a unique experience. Set in a former railway repair yard in the hip, alternative neighbourhood of Friedrichshain, it has a medieval theme giving it vaguely Ren Faire vibes. Taking place from November 12 to December 22, you can enjoy this creative market which includes a wooden Ferris wheel, street entertainment, and lots of artistic stalls.

You can fly with Ryanair from London-Stansted to Berlin on November 20 to 22 from £51, making it an ideal time to visit the city. Continue the cool arty theme with a stay at Generator Berlin Mitte , a design-led hotel that has dorms, sleeping pods, and private rooms, from £18.99 a night. A single pod is £29.47 a night, if you’re feeling brave and not claustrophobic, while a private twin ensuite room for the weekend costs £92.82 a night.

Have a story you want to share? Email us at webtravel@reachplc.com

Published on
18/09/2026 – 7:54 GMT+2

Japan’s benchmark Nikkei 225 gained 1.9% to 65,332.57 after the Bank of Japan raised the benchmark interest rate to 1.25% from 1.0%, a 31-year high.

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The move had been widely priced in, coming after the Federal Reserve also raised its key rate this week. Pressures have been coming from the US for Japan to raise rates because of concerns about the weakening yen.

The nations intervened together recently to prop up the yen. But the efforts haven’t had a big impact.

In currency trading, the US dollar rose to 157.11 Japanese yen from 155.95 yen. The euro cost $1.1487, up from $1.1480.

South Korea’s Kospi jumped 2.3% to 6,866.83. Australia’s S&P/ASX 200 was little changed, slipping less than 0.1% to 8,731.50. Hong Kong’s Hang Seng edged up nearly 0.7% to 24,769.80, while the Shanghai Composite added 1.0% to 3,916.08.

Falling oil prices and easing pressure from the bond market helped Wall Street reverse many of its losses from the prior day.

The S&P 500 jumped 1.1% for just its second rise in the last nine days. The Dow Jones Industrial Average added 316 points, or 0.6%, and the Nasdaq composite climbed 1.7%.

Wall Street stocks got a boost after the price of a barrel ofBrent crude oil slid from the nearly $110 it reached earlier in the week on worries that the war with Iran will keep oil bottled up in the Middle East instead of going to customers worldwide.

In Asian trading, Brent, the international standard, lost 0.94% to $103.83 a barrel. Benchmark US crude slid 0.83% to $101.06 a barrel.

Brent is still more expensive than the $72 per barrel that it cost earlier this summer, but the recent drop helped pull yields lower in the bond market and removed some pressure on stocks. The yield on the 10-year Treasury fell to 4.93% from 5.01% late Wednesday.

The Federal Reserve on Wednesday raised the short-term interest rate that it controls, the federal funds rate, by a quarter of a percentage point for its first hike in more than three years. Officials also hinted that they may raise the federal funds rate one more time this year as they try to get high inflation in the US under control.

The signals sent Wall Street on a roller coaster. Stocks initially remained higher for the day after the Fed made its announcement Wednesday. They then slid sharply before recovering a chunk of the losses before trading ended.

On the upside for markets, the shift to higher interest rates built confidence that the Fed is committed to getting inflation back to its target of 2%. On the downside for markets, higher rates undercut prices for stocks and other investments.

All told, the S&P 500 rose 85.95 points to 7,637.76. The Dow Jones Industrial Average gained 316.14 to 51,778.04, and the Nasdaq composite rallied 439.87 to 26,418.30.

Additional sources • AP

Published on 17/09/2026 – 9:55 GMT+2•Updated
10:03

Investors in Europe took the Federal Reserve rate hike in their stride.

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Both the Euro Stoxx 50 and the broader pan-European Stoxx 600 traded over 0.6% higher at the start of Thursday’s session.

France’s CAC 40, Germany’s DAX 30, Italy’s FTSE MIB, Spain’s IBEX 35, the Netherlands’ AEX and Switzerland’s CH20, all traded between 0.2% and 0.7% higher than their Wednesday close.

The UK’s FTSE 100 led the pack and rose more than 1%.

Carmakers and industrials led the Paris index, with Renault gaining more than 2%, Stellantis 1.6% and Schneider Electric 1.3%. Technology went the other way, with Dassault Systèmes falling 2.4%.

The calm followed a rougher session in New York, where the Dow Jones Industrial Average closed 1.2% lower on Wednesday and the S&P 500 fell 0.4%, while the Nasdaq was broadly flat.

Asian markets were mixed overnight with Tokyo’s Nikkei 225 rising 0.2%, Seoul’s Kospi gaining 0.9%, while Hong Kong’s Hang Seng lost 0.7% and the Shanghai Composite 0.4%.

Reactions were “pretty much expected since the rate hike was also in line with market expectations”, said Lorraine Tan, director of equity research for Asia at Morningstar, adding that the Iran war is likely to keep pressure on inflation.

A stronger US dollar and higher yields

The more consequential moves were in currencies and bonds.

The US dollar climbed to its highest in seven weeks against a basket of major currencies, lifted by the jump in short-dated Treasury yields that followed the decision.

The euro was trading around $1.146, down 0.5% from Wednesday’s open.

A stronger US dollar makes European exports more competitive in American markets, but it also raises the cost of anything priced in dollars, which includes oil and gas, which compounds Europe’s energy bill at a difficult moment.

In bond markets, the two-year Treasury yield, the maturity most sensitive to rate expectations, jumped to around 4.72% from 4.67% before the decision, holding near that level on Thursday.

The 10-year sat close to 5%, reflecting both the war-driven energy shock and mounting investor concern about American government debt.

Traders now fully expect another rate hike by December and put the odds of a move as soon as October at around 50%. Goldman Sachs became one of the first major Wall Street banks to forecast consecutive hikes, reversing its previous view that this month’s move would be the only one.

Attention turns next to the Bank of England, which announces its decision later on Thursday and is expected to hold rates steady, and to the Bank of Japan on Friday, where a hike is anticipated.

Additional sources • AP

Crypto traders are assigning Anthropic an implied valuation more than $1 trillion (€866bn) above its last funding-round price, before public investors have even seen its accounts.

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The company behind Claude has filed its IPO paperwork confidentially and chosen Nasdaq for its initial public offering.

What remains is the public release of its S-1 filing, the official registration package that a US company submits to the Securities and Exchange Commission.

Until it arrives, the only live price on Anthropic comes from a corner of the crypto market where pre-IPO speculation runs rampant, and it currently sits far above anything the company has ever agreed with an investor.

The last agreed valuation was $965 billion (€836bn), set when a $65 billion (€56bn) Series H round closed at the end of May, led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia.

That was already an extraordinary figure for a company founded in 2021 by Dario and Daniela Amodei, and it followed a valuation of $61.5 billion (€53.3bn) barely a year earlier, representing a nearly sixteenfold increase in roughly 12 months.

Revenue has moved almost as fast.

Anthropic’s annualised revenue run rate passed $65 billion (€56bn) by the end of July, driven by enterprise adoption of Claude.

The losses are also enormous, reportedly reaching close to $42 billion (€36.4bn) in 2025, reflecting the cost of training frontier models. Amazon has committed to investing as much as $33 billion (€28.6bn) in the company, while Anthropic has committed to spending more than $100 billion (€86.6bn) on AWS technologies over the coming decade.

Given these figures, investors are already aiming considerably higher than the valuation in the last round.

Reports have put the target IPO valuation at $2 trillion (€1.73tn), with Goldman Sachs, JPMorgan and Morgan Stanley leading an offering expected to raise more than $60 billion (€52bn).

The market that is already trading

Perpetual futures contracts tracking Anthropic’s pre-IPO valuation are currently trading on Hyperliquid, the largest decentralised derivatives venue, where the implied market capitalisation reached an all-time high of roughly $2.36 trillion (€2.05tn) and sits near $2.15 trillion (€1.86tn) at the time of writing.

That is about 2.2 times the Series H valuation.

Heng Yu Lee, partner at market maker DWF Labs, which is active in these instruments, rejects the suggestion that leverage rather than conviction is driving the premium.

“Whether it’s leveraged or not, everyone trading the pre-IPO market is genuine demand at the price that’s reflected,” he told Euronews, adding that “the premium is pricing in public information that’s available, such as expected revenue numbers and expected market demand for the stock.”

These contracts will also be the first instruments to react when the filing lands, trading around the clock while equity markets are shut.

“At a moment like the S-1 dropping, you typically see volume spike and prices fluctuate heavily as the market digests the information,” Lee explained.

However, the market remains small relative to what it is valuing.

“Currently, the market isn’t super deep, with just $6M in 24-hour volume and $31M in open interest on Hyperliquid,” Lee said, adding that liquidity should improve as the listing approaches, given that more investors are likely to pile in.

Lee is also candid about how much weight the number deserves.

“As of now, I wouldn’t rely too heavily on the absolute pricing as we have yet to have a public S-1,” he stated while clarifying that “the direction of how the prices move typically still accurately reflects the shifting sentiment towards the company as things develop.”

A crowded year for AI listings

Once Anthropic files publicly, it will cement 2026 as the year of AI IPOs.

It started with chipmaker Cerebras Systems, which designs wafer-scale processors pitched as an alternative to Nvidia’s. The firm listed on Nasdaq in May after two false starts, raising $5.55 billion (€4.76bn) at $185 a share, above its revised price range.

The stock opened 89% higher and closed its first day near $311, valuing the company at roughly $67 billion (€58bn) compared with the $23 billion (€20bn) it had been worth three months earlier.

Investor appetite for a credible Nvidia challenger proved fierce, though the enthusiasm cooled quickly after a disappointing first earnings report. Cerebras is currently trading at a valuation of around $43.7 billion (€37.8bn).

Then came SpaceX, which listed in June, raising more than $85 billion (€73.6bn) at a valuation that briefly touched $2.8 trillion (€2.4tn) before falling back to around $1.95 trillion (€1.69tn).

OpenAI was also slated to hold an IPO this year and had already filed confidentially, but has now stepped back entirely. The company has a private valuation of $852 billion (€738bn), set during a $122 billion (€105bn) round in March.

CEO Sam Altman told Fortune on Saturday that listing this year would be “ill-advised”, ruling out 2026 and declining to commit to 2027. He said the company had “a lot of stuff to do” on safety and alignment and that being private made that easier.

Altman’s comments arrived the same day that Anthropic CEO Dario Amodei published an essay titled “We Must Pace the Frontier”, arguing that AI companies should deliberately slow the rate at which they improve their most capable models.

Amodei proposed three steps: independent evaluators with employee-level access to frontier systems, coordination on safety standards among labs in democratic countries, and international agreements on the most dangerous categories of use.

Anthropic has already committed unilaterally to the first, and the endorsements came quickly, with Sam Altman saying he agreed on the need to pace the frontier and Elon Musk replying simply: “Dario is right”.

However, US President Donald Trump did not.

In his first public response to the three CEOs, Trump, speaking in Ireland on Sunday, dismissed the argument.

“We’re leading China in AI. We’re the most sophisticated country in the world, and frankly, I want to keep it that way, because whoever wins AI wins,” Trump said, describing some warnings as things “that won’t happen”.

Trump has since reiterated that argument in several social media posts.

Likewise, China’s foreign ministry called the warnings “fearmongering”.

Markets registered the exchange, with shares in SoftBank, Kioxia and SK Hynix falling sharply on Monday. Shares in the Japanese and South Korean companies fell more than 6% and 4.3%, respectively.

This leaves Anthropic in an awkward position as it approaches what could be the largest listing ever attempted in public markets.

The company is asking public investors to fund frontier AI development while its founder argues publicly that such development should proceed more slowly.

That is not necessarily a contradiction, since pacing is not stopping, and Anthropic has always argued that safety-focused labs should be at the frontier rather than ceding it.

However, it is a story the S-1 filing will have to tell convincingly, and the risk factors section will be read unusually closely.

Published on 14/09/2026 – 9:40 GMT+2•Updated
9:46

The oil market spent Monday morning pricing in a weekend of bad news from the Gulf.

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Brent for October and November deliveries gained over 3% and crossed $108 a barrel, while the US benchmark WTI for October rose 2.3% to around $102, both extending last week’s advance after each reclaimed the $100 threshold.

Prices moved following Saudi Arabia’s announcement that its East-West pipeline is temporarily closed after drone attacks.

The line carries crude across the kingdom to Red Sea ports, allowing oil to reach export terminals without passing through the Strait of Hormuz, so its loss removes the main alternative at the moment the strait itself is most dangerous.

That danger was also demonstrated on Sunday, when a merchant vessel was hit in the strait, killing one person and injuring three others, according to Iranian authorities.

Passage through the waterway now works very differently from before the war.

Vessels must obtain Iranian permission to transit, and Tehran is weighing a mechanism to charge service fees. Ships that fail to comply are routinely targeted, while US forces periodically bomb the Iranian coastline to contest Tehran’s claim to control the strait.

Diplomatic efforts have stalled too.

Oman has postponed planned talks between Iran and Gulf states on the future of the waterway, which carries a large share of the world’s seaborne oil trade.

Record fuel prices and finger-pointing

The consequences are extremely visible at American pumps.

The US national average price of diesel crossed $6 a gallon on Friday for the first time in history, up from around $5.85 a week earlier and roughly 60% above the $3.71 drivers paid a year ago.

Petrol is also averaging $4.22 after setting records over the Labor Day weekend.

US President Donald Trump has pointed the finger elsewhere.

Speaking to reporters in Ireland on Sunday, where he was attending the Irish Open at his Doonbeg golf resort, Trump stated Ukrainian President Volodymyr Zelenskyy “has to stop knocking out diesel fuel in Russia.”

“Let him go after targets, but not diesel fuel, because he’s causing a shortage of diesel fuel,” Trump added.

Ukraine has struck more than 20 Russian refinery targets this summer, prompting Moscow to ban diesel exports.

On the flight back from his state visit to Ireland this weekend, Trump reiterated the claim.

However, the supply arithmetic suggests otherwise.

Analysts attribute roughly 800,000 barrels a day of lost diesel supply to Russia’s export ban, against about 1.2 million from disruption around the Strait of Hormuz, according to Lipow Oil Associates.

The wider picture is more lopsided still as crude flows through the strait have fallen from around 20 million barrels a day before the war to about 7 million.

Between them, the two wars have also shut refineries representing around 5 million barrels a day of capacity.

Additional sources • AFP

RIYADH: Saudi-Russian cooperation has proven vital in supporting the stability of global energy markets and achieving a balance that serves the interests of both producers and consumers, the Kingdom’s foreign minister said on Tuesday.

During a visit to Moscow, Prince Faisal bin Farhan said the partnership between Riyadh and Moscow contributes to sustainable global economic growth and fosters cooperation across the economic, trade, and investment sectors.

Prince Faisal met with his Russian counterpart Sergey Lavrov who said that the minister’s visit offers a valuable opportunity to discuss Russian-Saudi relations which are witnessing year-on-year development across the trade, economic, investment, cultural, and humanitarian spheres.

Lavrov also affirmed his country’s sincere desire to contribute to efforts aimed at de-escalating the situation in the region and addressing regional issues.

The two ministers emphasized the importance of supporting the diplomatic path to resolve current regional and international challenges — including the Palestinian cause and the situation in Yemen.

They underscored the necessity of ensuring the security and freedom of navigation in international waterways, particularly the Strait of Hormuz and the Bab El-Mandab Strait.

Both sides affirmed their aspiration to advance Saudi-Russian relations which were established a hundred years ago.

Thinking of heading to Europe’s Christmas markets this year? Here are some destinations you can reach directly on Eurostar, making them ideal for a day trip or a quick overnight break

A European Christmas market is an amazing way to get into the festive spirit. The historic city backdrops, authentic food and drink, and unique gifts all make it a must-do in the run up to Christmas.

Eurostar can be a good alternative to flying for short breaks, as it allows you to get to the heart of the city for a day trip or quick overnight stay, without the hassle of the airport. (Although do factor in the logistics of getting to London from where the trains depart).

If you’re already starting to count down the days until Christmas, we’ve got you covered with some of the top markets you can reach by Eurostar this winter…

1. Lille Christmas Market

Lille is Eurostar’s shortest route from London at around 90 minutes, so it’s ideal for a Christmas market day trip. Lille Christmas Market takes place on Place Rihour, just a 15-minute walk from the Eurostart terminal, making it an easy location to get to.

The event runs from November 19 to December 30, and is open seven days a week with Fridays and Saturdays seeing the event stay open until 10pm. In the square you’ll find a huge Ferris wheel covered in lights and around 90 wooden chalets selling food, drink, and crafty items. It’s relatively small compared to some of Europe’s other giant markets, but Lille’s red-brick Flemish architecture and cobbled streets make the whole city perfect for a Christmas break.

2. Paris – La Défense Christmas Market

Paris has a few festive markets around the city, and La Défense Christmas Market is the largest, running daily from mid-November until early-January, with exact dates not confirmed yet for 2026.

Running on La Défense Esplanade, it includes an ice skating rink, carnival rides, and hundreds of stalls selling mulled wine, tartiflette, and raclette. However, it’s worth noting that the market can get incredibly busy as it’s in a Paris business district, so you may want to visit during off-peak times.

Another option is the Tuileries Garden Market, set in a park between the Louvre and Place de la Concorde, a sprawling market which takes up about half a mile of space. It runs for about six weeks from mid-November, again no dates are confirmed yet, and features 80 wooden chalets, a Ferris wheel, and lots of festive activities in this lively space.

3. Brussels – Winter Wonders

Brussels has a compact city centre that makes it ideal for a short break, and from the Eurostar station you can take a quick 10 minute journey to get to Winter Wonders. Taking up several streets in the Belgian capital, this sprawling Christmas market runs from November 27 to January 3 and features over 200 stalls.

At the heart of the market, in the beautiful Baroque Grand-Place, you’ll find the giant Christmas tree and a sound and light show. The market also has an ice rink and Ferris wheel, and closes daily at 10pm, so you can enjoy the festive atmosphere when the sun goes down and the Christmas lights turn on.

4. Antwerp Christmas Market

Eurostar launches a new direct service to Antwerp on December 14, and this city full of unique architecture, from ornate medieval buildings to quirky art nouveau structures, is the ideal backdrop to enjoy a Christmas market.

In the centre you’ll find the Grote Markt and Handschoenmarkt full of handmade crafts, local treats like Antwerp’s hand-shaped biscuits, a huge ice rink and plenty of festive bars. An adjacent street is turned into a giant light tunnel, perfect for exploring after dark, and the market is open until midnight on Fridays and Saturdays for festive night owls.

5. Amsterdam Christmas Market and Village

Amsterdam, Eurostar’s longest direct route from London, has multiple Christmas markets and events, but perhaps its best-known takes place in Museumplein, the city’s largest square. This area, popular with tourists thanks to its several attractions such as the Van Gogh Museum, is transformed into a Christmas village complete with live entertainment, 45 festive stalls, and a roaming acappella choir.

But if you prefer something a little less traditional, visit the Funky Xmas Market on December 20 in Westerpark. The event brings together the work of artists and creatives from across this colourful city, with lots of unique and quirky ideas for loved ones who are difficult to buy for.

6. Rotterdam – Scandinavian Christmas markets

Enjoy the ultimate hygge atmosphere at one of Rotterdam’s Scandinavian Christmas markets, which are held in traditional Seamen’s Churches across the city. Rotterdam has always had close ties to Scandinavia thanks to its large harbour, so you can enjoy the Scandi-vibes at traditional Norwegian, Danish, and Swedish markets, which are mostly held during November.

If you’re visiting in December, then Deliplein Winterplein is a two-week community festival where the Katendrecht neighborhood is turned into a winter wonderland. It kicks off with a parade and tree lighting, and includes lots of live music events, visits from Santa, and creative workshops. It’s a more community-focused alternative to the usual touristy Christmas markets.

Have a story you want to share? Email us at webtravel@reachplc.com

By Euronews Persian

Published on 02/09/2026 – 14:37 GMT+2•Updated
14:42

The US dollar broke above 2.1 million Iranian rials on Tehran’s free market on Wednesday, setting a new record as the rial lost around 60% of its value against the dollar since the start of the Iranian calendar year in March — when the dollar traded at approximately 1.35 million rials.

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The rial’s slide has accelerated since the US reimposed a naval blockade on Iranian ports in July, following the collapse of a short-lived ceasefire.

The euro hit an unprecedented 2.55 million rials, and the UK pound reached 2,976,000 rials.

The UAE dirham, which serves as the benchmark for pricing the rial on regional markets, reached 600,000 rials for the first time.

One gram of 18-carat gold climbed above 225.7 million rials, and the Imami gold coin — a standard unit of value in Iran — changed hands at 2.26 billion rials.

Iran operates a dual exchange rate system. The official rate, set by the Central Bank and used for state transactions and subsidised imports of essential goods, is significantly stronger than the free market rate available to ordinary Iranians and businesses.

The gap between the two has widened sharply since the war began, with the free market rate now more than double the official rate.

The rial has been in freefall since the US-Israeli strikes against Iran on 28 February launched the ongoing war, now in its seventh month, and has accelerated as Washington has tightened its economic pressure campaign.

The US Treasury has cut off Iran’s access to regional banks, severing one of the Islamic Republic’s main channels for accessing foreign currency and clearing import payments.

The naval blockade of Iranian ports has compounded the pressure by restricting trade routes and reducing Iran’s oil export revenues.

Abdolnaser Hemmati, governor of the Central Bank of Iran, said the bank was ready to inject $2 billion into the foreign exchange market to stabilise the rial. He attributed the latest slide primarily to psychological factors rather than fundamental economic ones.

“The dust created in the foreign exchange market will settle, and the recent increase in exchange rates is driven more by psychological factors than by real economic factors,” he said.

Hemmati acknowledged that inflation had placed heavy pressure on households.

“Although inflation and rising prices have placed heavy pressure on people’s livelihoods and daily lives, and these difficulties are tangible, the Central Bank has been able to control the accelerating pace of inflation by using monetary, supervisory and prudential tools,” he said.

He rejected US claims that Tehran lacked access to financial reserves.

“These claims are completely baseless. The reserves have not been frozen, and the Central Bank has access to stable resources as well as multiple oil and non-oil revenues,” he said, claiming that more than $18 billion in foreign currency had been provided for imports of essential goods, medicines, animal feed and raw materials since March.

He provided no further details to support the figure.

The rial’s collapse is feeding directly into consumer prices. Iran was already experiencing high inflation before the war, while the currency’s further depreciation has raised the cost of all imported goods, raw materials and energy inputs.

Iranians who hold savings in rials have seen their purchasing power roughly halved in less than six months. Gold and hard currency have become the primary store of value for those who can access them.

Iran’s official currency is the rial, although most Iranians conduct everyday transactions in tomans — a colloquial unit equal to 10 rials that is so deeply embedded in daily use that shops, restaurants and property listings quote prices almost exclusively in tomans.

At Wednesday’s free-market rate, the US dollar traded at about 220,000 tomans. The government announced plans in 2020 to formally replace the rial with the toman and remove four zeros from the currency, a redenomination that has not yet been fully implemented.

The administration of United States President Donald Trump has announced new economic sanctions on Tehran, describing the measures as an “economic D-Day” as the US war on Iran approaches the six-month mark.

US Treasury Secretary Scott Bessent announced the sanctions on Monday, alongside a naval blockade of Iranian ports.

Bessent said the sanctions target key sources of Iran’s revenue, including its oil and gas industry, and called on countries around the world to cut economic ties with Tehran.

What are the sanctions?

The Treasury Department said the sanctions will target Iran’s aviation, digital assets, gold, technology and shipping sectors, as well as impose sanctions on 60 specific individuals and vessels.

“The main point is that Iran seems to have much less room than it did in previous years to simply work around sanctions,” Peiman Salehi, a Tehran-based geopolitical analyst, told Al Jazeera.

Bessent also said on Monday that the new sanctions expose Tehran’s trade partners to secondary penalties. According to a Treasury Department release on Monday, the targets include ships based in or associated with countries including Singapore, China, and Hong Kong.

“Today’s sanctions are mostly incremental, but are part of trying to intimidate remaining trading partners into cutting ties [with Iran],” said Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security think tank.

“There’s a lot of signalling and bluster aimed at getting other countries to crack down on entities involved in grey-zone trade, but new measures are mostly incremental for now,” she said. Grey-zone trade refers to both illegal, underground trade and trade that is unsanctioned but difficult.

The Treasury Department said Iran has used cryptocurrency to circumvent its longtime sanctions and facilitate transactions involving the Islamic Revolutionary Guard Corps (IRGC) and members of the Iranian regime. The department also said Iran has used gold to help prop up the value of its currency amid economic instability.

The new shipping sanctions target Iran’s state-linked shipping fleet, which the Treasury Department alleges is being used to transport oil as well as “sensitive weapons components”.

The technology sanctions are intended to restrict Iran’s acquisition of materials that could be used in its weapons programmes. The aviation sanctions target Iranian airlines that the Treasury Department alleges are being used to transport weapons and military personnel, as well as financial resources to Iran’s proxies.

Washington also indefinitely suspended several broad exceptions to its ongoing sanctions on Iran, including those covering academic exchanges, personal money transfers and certain sporting activities. Organisations currently engaged in those activities have until September 8 to wind down their operations.

Ziemba says these measures “will have more effect on Iranians, not just the regime”.

What sanctions were already in place?

Washington’s sanctions on Iran have been in place since 1979, after students took hostages at the US Embassy in Tehran, and increased over the next 45 years. Sanctions were briefly paused, however, after the administration of President Barack Obama and world powers signed a nuclear deal with Tehran in 2015. But the Trump administration withdrew from the deal during its first term, in 2018, bringing back old penalties while adding new ones.

Washington imposed new sanctions during Trump’s second term, many of them before the US and Israel first struck the country on February 28.

In February 2025, the Treasury Department sanctioned 30 individuals and vessels involved in the “brokering [of] the sale and transportation of Iranian petroleum-related products”, according to a department release. The targets were based in several countries, including India and China.

In December 2025, Washington sanctioned 29 vessels it accused of being part of a so-called shadow fleet used to transport Iranian petroleum. It also sanctioned Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr over his businesses’ alleged ties to seven of those 29 vessels. The measures continued the 1979 sanctions campaign against Iran’s oil industry.

The Treasury Department stepped up the sanctions again in April 2026, targeting another two dozen individuals, companies and vessels operating within the network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, the son of now-deceased senior Iranian security official Ali Shamkhani.

Later that same month, the Treasury also targeted what it described as “regime-linked cryptocurrency” and said it had seized nearly half a billion dollars from so-called “shadow banking networks”.

How have sanctions affected US consumers?

Pressure on the Iranian oil market, both through existing sanctions as well as the current war, has tightened the rest of the globe’s oil supply and affected countries that buy Iranian oil.

China, for example, is the primary destination for Iranian oil, buying roughly 90 percent of Iran’s crude oil exports. Beijing bought 1.4 million barrels per day in 2025.

At the same time, Asian markets, China included, also heavily rely on oil travelling through the strategically vital Strait of Hormuz, where roughly one-fifth of the globe’s oil transited before Iran choked off the route.

This has put pressure on the global oil supply, meaning the benchmark for crude oil has ticked up, translating to higher prices on fuel and food.

For US consumers, that has been most apparent at the petrol pump. The average price for a gallon of petrol (3.78 litres) is $4.09, up from $2.98 on February 28 when the US and Israel first struck Iran, according to the American Automobile Association (AAA), which tracks daily petrol prices.

Experts warn that if Iran retaliation accelerates, it could hit Americans hard.

“If sanctions provoke Iranian retaliation against Gulf shipping, materially reduce oil exports, or cause insurers and shipping companies to avoid the region, then Americans could feel it very quickly through gasoline, diesel, airfares, freight costs and ultimately inflation,” John Deal, managing director of capital markets at Post Oak Group investment bank, told Al Jazeera.

The economy and Iran are emerging as key issues heading into the US midterm elections, with voters expressing dissatisfaction on both fronts. That could put pressure on Republicans in competitive races, including in traditionally red states such as Texas.

A late-July Reuters/Ipsos poll suggested that only about a third of Americans supported the war, while just 28 percent of respondents in a CNN poll approved of Trump’s handling of Iran.

On the economy, an AP/NORC poll suggested that 32 percent of Americans approved of Trump’s performance. A recent Reuters/Ipsos poll, meanwhile, suggested that Democrats were narrowly ahead of Republicans on which party voters trust more to handle the economy—the first Democratic advantage in roughly a decade.

How are the sanctions affecting markets?

The latest sanctions announcement is weighing on Wall Street as well as the oil and gold markets.

On the heels of the announcement, the price of gold, largely considered a safe investment during times of economic uncertainty, jumped by 0.8 percent to $4,639.49 per ounce (28 grams) in midday trading, ticking up to its highest level since mid-May.

As for oil, prices pulled back on Monday after two weeks of gains. The price of the global benchmark Brent crude tumbled by more than 2 percent on Monday to $85.22 a barrel.

On Wall Street, the major indices are mixed amid the latest sanctions news as well as Trump’s announcement of new tariffs on Canada. The Nasdaq is down 0.5 percent, and the S&P 500 is down 0.2 percent. The Dow Jones Industrial Average, however, is trending in positive territory, 0.2 percent higher than the market open on Monday.

The oil sector is taking a hit. Chevron is down 0.8 percent, ExxonMobil tumbled 0.9 percent, BP fell more than 2 percent, and Shell is down 0.2 percent.

Published on
24/08/2026 – 11:00 GMT+2

The US is ramping up its economic pressure on Iran after Treasury Secretary Scott Bessent declared the start of an “economic D-Day”.

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According to Bessent, this represents “the single greatest financial offensive ever marshalled against an adversary.” He set out the position in a post on X late on Sunday and in a Financial Times opinion article published the same day.

Bessent stated that US President Donald Trump’s military campaign had “significantly dismantled Iran’s military capabilities and weakened its nuclear programme”. He added that the administration is now “entering the endgame” and that the economic measures begin at dawn.

The objective, according to the US Treasury Secretary, is to “sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone”.

Bessent cautioned countries that continue to buy or transport Iranian petroleum, facilitate financial flows through exchange houses and free trade zones, handle flights, maintain ship registries or enable seaborne fuel transfers, that any remaining links would accelerate their own isolation.

The comments follow remarks by US President Donald Trump last week. At the time, Trump announced in a Truth Social post “the most crushing economic operation ever taken agaisnt any country!”

Despite both declarations, specific measures have not yet been set out.

According to Bessent’s outline, the package could centre on secondary sanctions against nations and entities that keep purchasing Iranian oil, process its finances, operate related banks or support shipping and other commercial channels, layered on top of the existing naval blockade.

Bessent is scheduled to hold a press conference at 7 PM CET on Monday to announce the concrete steps.

Market reaction

Oil prices are lower on Monday morning even as the rhetoric intensifies.

At the time of writing, Brent crude, the international standard, is trading at around $91.5 which is 2% lower than Friday’s close while West Texas Intermediate stands at roughly $86.2, about 1.5% lower than last week’s close.

The fall may stem from profit-taking after recent gains and from reports of a temporary rise in tanker movements through the Strait of Hormuz.

According to shipping information cited by Axios, around 40 tankers transited the southern channel on Friday night, moving roughly 16 million barrels of oil, higher than the 15-20 vessels recorded on preceding nights.

Overall volumes through the waterway remain well below pre-conflict levels.

On the other hand, US futures are also in the red ahead of market open while European stocks are trading flat.