Iran

• Iran's lead negotiator has issued a firm warning to Washington regarding the strategic Strait of Hormuz amidst a new wave of strikes destabilizing the Gulf region. • The escalation follows President Trump's declaration that the previous ceasefire between the U.S. and Iran has officially ended. • This diplomatic breakdown signifies that the deal intended to establish a truce prior to further negotiations is now effectively in tatters.

Mahmoud Ahmadinejad reportedly wooed by Mossad agents after distancing himself from KhameneiMiddle East crisis live – latest updatesIsrael tried to recruit Iran’s intensely anti-Zionist former president Mahmoud Ahmadinejad to lead a new post-Islamic regime in Tehran, even going as far as sending its top spy to Budapest to meet him, according to media reports.The remarkable quest to turn a leader who had denied the Holocaust and called for Israel’s erasure began in 2022, according to reporting by the New York Times and the Israeli newspaper Haaretz, and continued even after Israel became engaged in a brutal campaign in Gaza against Hamas, a key Iranian ally. Continue reading...

• Senator Lindsey Graham has maintained a 23-year career in the U.S. Senate defined by a hawkish foreign policy focused on curbing Russia, supporting Israel, and seeking regime change in Iran. • While consistent on security issues, Graham is noted for his political adaptability, shifting his stance to align with the changing political climate during Donald Trump's rise to power. • Early in his tenure after being elected in 2002, Graham established a significant political partnership with the late Senator John McCain, known for his conservative yet independent approach.

• The 21st Century ROAD to Housing Act has been introduced to stimulate home building, expand financing options, and limit the ability of large investors to purchase residential properties. • Despite the legislation's goals, industry experts warn that homebuyers should not expect an immediate decrease in housing prices. • Major financial institutions, including JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Citigroup, are scheduled to report earnings on Tuesday.

• UN Secretary-General António Guterres warned that escalating tensions between the US and Iran could severely threaten global peace, security, and economic stability. • Security experts caution that an expanded conflict could destabilize the broader Middle East, potentially displacing millions of civilians and triggering new humanitarian crises. • The situation is critical as instability in the region could create strategic opportunities for extremist groups to exploit the resulting chaos.

• The United States and Iran both asserted control over the Strait of Hormuz on Monday following a weekend of widespread attacks across the Middle East. • These escalating military tensions and territorial disputes further threaten ongoing diplomatic efforts to end the regional war. • The situation coincides with Senator Mitch McConnell breaking weeks of silence regarding his health status.

• Russia's Tu-214PU "Doomsday" airborne command post aircraft recently landed in Tehran, according to flight tracking data. • The arrival occurs amidst a period of escalating tensions and intensifying U.S. military strikes against Iran. • The presence of this high-level command aircraft fuels speculation that Moscow and Tehran are pursuing closer military coordination.

• The benchmark Sensex and Nifty indices erased early losses to end flat on Friday, eventually rallying by more than 1%. • Gains were driven by heavyweight stocks including Reliance Industries, ICICI Bank, and HDFC Bank, alongside a surge in IT shares. • The IT sector's growth was sparked by TCS reporting better-than-expected June-quarter earnings and signaling a recovery in demand.

• Investors are preparing for a volatile week as US stock markets, currently near record highs, face a combination of corporate earnings reports and critical economic data. • Market stability will be tested by ongoing geopolitical tensions in the Middle East, specifically developments involving Iran, which may introduce new risks. • This period is significant because it will determine if the current market resilience can withstand simultaneous pressures from corporate financial results and international instability.

• The FTSE 100 dropped 5 points to 10,492 as global stocks struggled for direction following new US-Iran strikes. • Oil prices surged to a three-week high due to geopolitical tensions, while Asian markets saw significant declines, including a 1.9% drop in Japan's Nikkei and a 7.6% fall in Korea's Kospi. • Corporate updates were released by Plus500, PageGroup, and Oxford Nanopore, adding to the market volatility.

• The BSE Sensex plummeted 670 points and the Nifty fell below 24,015, driven by rising crude oil prices and escalating tensions between the US and Iran. • This domestic downturn mirrored a broader Asian market crash, with Japan's Nikkei 225 dropping 1,237.73 points (1.81%) and South Korea's KOSPI sliding 7.25%. • Despite the geopolitical instability in the Persian Gulf, analysts remain positive on Indian markets due to strong domestic flows and improving corporate earnings.

• Indian stock markets tumbled at the start of the week, with the BSE SENSEX dropping over 670 points and the NSE NIFTY 50 falling 192 points. • The decline was triggered by escalating geopolitical tensions between the US and Iran, which caused a surge in crude oil prices and volatility across Asian indices. • This downturn matters as it reflects the sensitivity of Indian markets to global oil price spikes and international political instability.

• The United States and Iran experienced a significant escalation in conflict on Monday following a new wave of U.S. strikes against Iranian targets. • In response, Tehran launched retaliatory attacks targeting American-linked military facilities located across several Gulf countries. • The confrontation centers on the strategic Strait of Hormuz, a critical global maritime chokepoint for oil shipments.

Home Office announces ban on support for Iranian military group in escalation of diplomatic tensions with TehranThe UK will list Iran’s Islamic Revolutionary Guard Corps as a terrorist organisation, ministers have announced, in a major escalation of the diplomatic tensions with Tehran.The Home Office said on Monday it would ban support for the IRGC, a central branch of the Iranian military, after years of political division over the issue. The move is equivalent to proscription, though not legally identical. Continue reading...

Tehran says latest US attacks have ‘rendered futile’ diplomatic efforts of last few months. Plus, hit song in Australia prompts speculation about use of AIGood morning.The US military has launched a fresh wave of attacks against Iran amid the escalating standoff over the strait of Hormuz.What has Iran said about the latest hostilities? Iran condemned the latest wave of attacks, its foreign ministry saying they had “rendered futile all efforts of the past few months to reduce tension and establish peace in the west Asian region”. The ministry added: “The US regime has also caused the return of insecurity in the strait of Hormuz and disruption of international commercial shipping.”Is the strait open? Iran said on Sunday that passage through the waterway was not possible because of what it called recent illegal US military movements in the region. The US said its forces were positioned to safeguard freedom of navigation, and reiterated guidance that, despite a severe security threat, an “expanded” southern route near Oman coastline was available for two-way traffic.How will Graham be replaced in the senate? South Carolina’s governor, Henry McMaster, will appoint a new senator to serve out the remainder of Graham’s term, which ends on 3 January. Whoever is appointed will likely have a leg up in a special primary election on August 11 to get on the November ballot. The candidate would still run against the Democratic nominee Annie Andrews, a pediatrician who gained significant support in the red state, but who still faces an uphill challenge. Continue reading...

Nazanin Zaghari-Ratcliffe was in prison with Sepideh Kashani, who worked with husband Houman Jokar to save Asiatic cheetahNazanin Zaghari-Ratcliffe has described the rearrest of two Iranian environmentalists, one of whom she met at Evin prison, as “unimaginably cruel and alarming”.Husband and wife Houman Jokar and Sepideh Kashani were arrested by the ministry of intelligence at their home on 1 July. No reason has been given and their whereabouts are unknown. Continue reading...

US military says it hit dozens of Iranian sites in strikes on Monday while UN chief warns that a return to full-scale fighting would be ‘catastrophic’US launches new attack wave on Iran as Tehran says diplomacy has proven ‘futile’In a series of social media posts this morning, Oman’s interior ministry said sirens were being activated and urged residents to head to the nearest safe place and await further instructions.As we mentioned in the opening post, Iran’s Islamic Revolutionary Guard Corps said earlier that it had attacked radar systems in Oman as part of its counter strikes against the US. Continue reading...

• Oil prices for Brent and U.S. benchmark crude jumped following a series of retaliatory airstrikes between the United States and Iran. • Asian stock markets reacted negatively to the geopolitical tension, with the Shanghai Composite index dropping 1.2% and Hong Kong's Hang Seng edging up only 0.1%. • Major South Korean tech firms saw significant losses, as Samsung Electronics sank 6.7% and SK Hynix slumped 10.6% in Seoul trading.

• The Indian stock market experienced a sharp decline at the start of the week, with the Sensex falling 670 points and the Nifty slipping. • The downturn was triggered by escalating geopolitical tensions between the US and Iran, which led to a spike in global crude oil prices. • This trend mirrored severe losses across Asian markets, including Japan's Nikkei 225, which dropped 1,237.73 points, and South Korea's KOSPI, which fell 7.25%.

Brent crude jumps nearly 5% and Asian markets drop, with chipmakers including SK Hynix among hardest hitBusiness live – latest updatesOil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz.Brent crude, the international benchmark for oil prices, rose 4.7% to $79.59 a barrel. Asian stock markets dropped sharply, with South Korea’s Kospi down 8% and Japan’s Nikkei 225 and China’s Shanghai Composite 2% lower. Continue reading...

• The Modi government plans to reintroduce legislation during the upcoming Monsoon Session to secure a 33% reservation for women in the Lok Sabha and state Assemblies. • The proposed constitutional amendment and Delimitation Bill aim to implement these quotas starting from the 2029 elections. • This move follows a previous attempt earlier this year that failed to achieve the necessary two-thirds majority in Parliament.

• The United States launched a new series of military strikes on Sunday targeting Iran's coastal energy infrastructure, with explosions reported in Bandar Abbas and Qeshm Island. • In response, Tehran announced the closure of the strategically vital Strait of Hormuz "until further notice" following the seizure of a cargo vessel and US accusations regarding an attack on a commercial ship near Oman. • This escalation marks a significant spike in Gulf tensions, severely undermining the prospects for renewed diplomatic negotiations between Washington and Tehran.

• Asian stock markets experienced a decline following new U.S. strikes against Iran and growing instability in the region. • Market volatility is being driven by uncertainty surrounding the Strait of Hormuz, with ship tracking data indicating a significant decrease in maritime traffic. • The situation matters as disruptions to this critical shipping lane could severely impact global energy supplies and trade stability.

• The ASX opened higher despite geopolitical tensions and flaring hostilities between the US and Iran, which have caused oil prices to jump. • Market sentiment was bolstered by the Nasdaq debut of South Korea's SK Hynix, which saw shares rise 14% after raising approximately $US26.5 billion. • Investors are anticipating a strong second-quarter earnings season on Wall Street, with LSEG analysts forecasting a 24% surge in S&P 500 earnings driven largely by technology firms.

• Asian stock markets declined following U.S. military strikes against Iran, which triggered a surge in global oil prices. • Key indices were negatively impacted, with South Korea's Kospi index dropping 1.6% and Japan's Nikkei 225 falling 0.2%. • The geopolitical tension caused a broader market ripple, leading to price drops in gold and Bitcoin.

American and Iranian forces exchange heavy missile and drone attacks over control of strait of Hormuz, increasing pressure on truceThe US military has launched a new wave of attacks against Iran amid the escalating standoff over the strait of Hormuz, with Tehran saying the latest strikes had “rendered futile” all the diplomatic efforts of the past few months.The US military began launching more strikes against Iran at 9pm GMT on Sunday, US Central Command (Centcom) said on X, “to continue degrading their ability to attack civilian mariners and commercial ships freely transiting the Strait of Hormuz”. Continue reading...

• The U.S. launched a fresh round of military strikes on Sunday, continuing a cycle of retaliatory attacks linked to disputes over the Strait of Hormuz. • In response, Iran has targeted Gulf states and claimed that the strategically vital Strait of Hormuz is now closed. • The escalation threatens global energy security and regional stability, particularly for nations like Qatar that have grown their GDP 24-fold through natural gas exports.

Iran has sought to establish a permanent system for collecting fees in the strait of Hormuz and warned vessels not to sail without its authorisationThe US and Iran have again exchanged heavy missile and drone assaults, with Tehran targeting US facilities in states across the Gulf and saying it had again closed the vital strait of Hormuz.The US military ⁠began launching more strikes against Iran at 5 pm ET on Sunday, US Central Command said in a statement, “to continue degrading their ability to attack civilian mariners and commercial ships freely transiting the strait of Hormuz.” Continue reading...