Australian house prices are falling but have still more than doubled over the past decade

• Saudi and Qatari tankers were attacked near the Strait of Hormuz, escalating maritime security risks in one of the world's most critical shipping lanes. • The incidents follow a round of talks between the involved parties that concluded last week without reaching a permanent agreement.

• South Korea is leveraging its world-class battery and power grid strengths to reduce global clean energy supply chain reliance on China. • The IEA projects that battery cell manufacturing outside the dominant supplier will increase from 16% of global capacity today to between 29% and 35% by 2030.

• A Sri Lankan expert highlighted that President Xi Jinping's book on governance directly addresses the specific concerns and aspirations of the Global South. • The expert noted a growing trend among developing nations to prioritize strategic autonomy over exclusive geopolitical alignments to ensure their own prosperity and security.

• Russia launched a new wave of missile and drone attacks across Ukraine, resulting in civilian casualties and further strikes on non-military areas. • The barrage occurred as NATO leaders met in Ankara for a critical summit to discuss European security and the ongoing conflict.

• In February 2026, President Trump launched military strikes against Iran with the stated goals of annihilating the Iranian navy and destroying the nation's missile sites and program. • The US intervention specifically aims to prevent Iran from developing nuclear weapons, addressing long-standing security concerns regarding the region's nuclear proliferation.

• Turkish Foreign Minister Hakan Fidan stated on July 3 that Israel has become an "unbearable burden" to humanity, intensifying diplomatic tensions. • Fidan called for the international community to impose sanctions against Israel, citing the ongoing humanitarian crisis and conflict.

• Millions gathered for the funeral of the Iranian Supreme Leader following his assassination in a U.S. military strike. • Regional instability escalates as Israel continues attacks in Gaza and Lebanon despite a U.S.-brokered ceasefire, while Houthis launch a deadly offensive in Hodeidah, Yemen.

• British fighter jets intercepted and escorted a Russian aircraft that was attempting to harass Royal Navy vessels. • The operation serves as a direct response to Vladimir Putin's "brinkmanship" and aggressive aerial maneuvers near UK territory.

• NATO is convening for its annual summit in Ankara to address evolving security challenges and the alliance's strategic direction. • The organization faces a critical internal crisis as member states no longer share a coherent understanding of the values, legal principles, and geopolitical vision that originally founded the alliance.

• Despite escalating public rhetoric, a diplomatic deal between the U.S. and Iran remains likely following the signing of an interim memorandum of understanding. • The current 60-day window is expected to be characterized by fluctuating tensions and occasional diplomatic friction as both parties negotiate.

• Iranian Foreign Minister Abbas Araghchi stated on Tuesday that negotiations with the United States regarding a final deal will not commence if threats against Iran persist. • Araghchi referenced part 13 of the Tehran-Washington memorandum of understanding on X, emphasizing that the terms for starting talks are clear.

• An oil tanker caught fire after being struck by an "unknown projectile" while transiting the Strait of Hormuz off the coast of Oman. • The United States has accused Iran of attacking two commercial ships, leading the U.S. to consider a potential counter strike.