Iran

• Iran is targeting AI data centers as part of a strategy to counter military strength by inflicting significant economic damage. • These facilities are critical to the US military and AI industries, as well as Gulf nations like Saudi Arabia and the UAE, which aim to become a global AI hub. • Key investments are at risk, including Saudi Arabia's use of its $1 trillion sovereign wealth fund and the UAE's $500 billion "Stargate" project.

• President Trump has threatened "decapitation" strikes against Iran, stating the country is on its "very last chance" to reach a deal. • In response to a Houthi-declared blockade, six Saudi-operated tankers have been diverted around Africa to ensure safe passage. • Iran's Foreign Ministry is currently in negotiations with Oman to establish a temporary safe route for maritime vessels.

• Spain is facing a migrant crisis at the Ceuta border, which the report links to geopolitical pressures and rhetoric from the U.S. and Israel regarding Morocco. • In response, Italy has implemented targeted checks on non-EU nationals arriving from Spain, while France has deployed drones and four mobile units to reinforce its borders. • European nations are divided on the solution, with Finland, Denmark, and Czechia calling for Spain's suspension from the Schengen Area.

• US stock market futures surged, with Dow futures jumping over 680 points alongside rises in the S&P 500 and Nasdaq, following President Trump's decision to halt strikes on Iran. • The move improved investor sentiment and lowered oil prices at the start of the new trading month, though analysts warn that geopolitical uncertainty persists. • Economic focus shifts to July employment data, with expectations of 87,500 nonfarm payrolls added and a slight unemployment rate increase to 4.3%.

• The PML-N party secured a victory in the second phase of elections in Pakistan-occupied Kashmir (PoK), marking a significant political shift in the region. • Security concerns escalated in northwest Pakistan with a rising death toll from attacks, while recovery efforts continue for climbers on Broad Peak. • Diplomatic activity intensified as Donald Trump announced new developments regarding talks with Iran and Aung San Suu Kyi held a rare meeting in Myanmar.

• President Donald Trump announced on Monday that a deal with Iran to reopen the Strait of Hormuz and ensure the country's denuclearization is "imminent." • Iran has confirmed it is currently engaged in discussions with mediators to resolve these tensions. • Separately, Iranian President Pezeshkian congratulated Khalil al-Hayya on becoming head of Hamas' political bureau, reaffirming Iran's support for the Palestinian cause.

• Wall Street experienced a broad rally, with the S&P 500 gaining 1%, the Nasdaq Composite rising over 1%, and the Dow Jones Industrial Average advancing 624 points (1.2%). • The surge was driven by a decline in oil prices and renewed investor optimism regarding a potential diplomatic deal between the US and Iran. • This rally is significant as it extends a recovery period following a volatile July characterized by sharp market swings.

• President Donald Trump has warned Iran that it has a "last chance" to sign a deal, though he maintains he is under no specific time constraint. • Iran has stated it is not currently in talks with the U.S. but is discussing a new Strait of Hormuz route with Oman. • Expert Paul Salem of the Center for Strategic & International Studies suggests that while the Iranian regime can withstand economic strain, Trump may face a heavy political cost within the U.S. electoral system.

• President Trump has labeled Iran "unbelievably duplicitous," warning that current opportunities represent a "last chance" for Tehran to reach a deal and avoid further escalation. • Despite these remarks, U.S. officials informed CBS News that no new formal negotiations with Iran are currently planned. • Iraqi Prime Minister Ali al-Zeidi is reportedly attempting to mediate between the two nations, carrying messages from the U.S. to Tehran following a White House visit.

• Iranian Foreign Affairs Minister Abbas Araghchi and other negotiators are reportedly open to making limited compromises with the United States. • On August 2, 2026, Artesh Spokesperson Brigadier General Mohammad Akraminia claimed Iran "fully exploited" a memorandum of understanding and ceasefire to import equipment and repair military systems. • These statements were intended to reassure ultra-hardline parliamentarians from the Paydari (Stability) Front who oppose diplomatic engagement with the U.S.

• Nvidia has announced a strategic partnership with Hugging Face, a leading developer of AI models and data sets. • The collaboration introduces a new training service on the Hugging Face website powered by Nvidia DGX Cloud. • This integration allows users to leverage Nvidia's high-performance servers to manage and accelerate their AI workloads.

US president reduced to bemoaning Tehran’s ‘unbelievable duplicity’ as he struggles to find solid negotiating groundMiddle East crisis live – latest updatesThe Donald Trump doctrine has always contained a tenuous relationship with the truth. It was his mentor, the infamous New York lawyer Roy Cohn, who taught the young real estate mogul always to claim victory and never to admit defeat. Unfortunately for Trump, in Iran the US president has found a counterpart just as stubborn as himself.As Trump claims new negotiations are to begin with Tehran this week, Iran has shown it can also reignite the conflict by lobbing ballistic missiles at US bases in the region and maintaining a stranglehold on the strait of Hormuz, effectively taking initiative in the stalled peace process. And time is of the essence for Trump as the clock ticks toward a global energy crisis and a painful midterm elections for him and his Republican party. Continue reading...

• US equity investors are preparing for a volatile week focused on corporate earnings reports and critical labor market data. • Market sentiment is being further pressured by escalating geopolitical tensions involving Iran, adding uncertainty to global stability. • These factors are significant as they will likely dictate short-term market direction and influence Federal Reserve decisions regarding interest rates.

Iran discussing creation of temporary route through strait of Hormuz with its neighbour, says spokespersonMiddle East crisis live – latest updatesIran has been in discussion with Oman about the creation of a new temporary route through the strait of Hormuz that would allow commercial shipping to resume, but is not yet reviving talks with the US, Tehran’s foreign ministry spokesperson said on Monday.Esmail Baghaei was responding to claims by Donald Trump that talks between the two sides covering all the major disputes between them could restart as early as Monday. Trump claimed he held off from launching the biggest strike on any country “since world war two” over the weekend after Saudi Arabia’s crown prince, Mohammed bin Salman, rang him to urge diplomacy. Trump said the cancellation was conditional on Iran reaching a deal quickly. Continue reading...

• U.S. stock futures trended higher on Monday as investors reacted to signs of a fragile de-escalation of tensions between Iran and other Middle Eastern powers. • Market participants are shifting focus toward a busy week of corporate earnings, with a specific emphasis on the upcoming report from data analytics firm Palantir. • Beyond corporate results, traders are awaiting the release of key economic indicators to gauge the current health of the U.S. economy.

US president says he called off another US attack on Iran as part of a push for an agreement. Plus why Pokémon Go is still bring global joy ten years onGood morning. Donald Trump said talks with Iran would happen on Monday but declined to set a deadline for an agreement after earlier saying he had called ⁠off an imminent attack. For its part, Iran said it was nearing a deal with Oman over a new route through the strait of Hormuz, and that it had no plans to receive a delegation or send an Iranian one to any talks.On Saturday night, the US president claimed on social media that Iran and other Middle Eastern countries had asked for time to complete a deal ⁠that would lead to “the immediate, complete and total” reopening of the strait and “an end to Iran’s nuclear threat”. Trump added that Tehran must “rapidly make a deal”.What has Iran said about the strait? The Iranian foreign ministry spokesperson, Esmaeil Baqaei, told state television on Sunday that a deal was close with Oman over a new route through the waterway. “We are now going to reach an understanding on a route acceptable to both sides – neither the northern route nor the southern route – but one that respects the sovereign rights of both sides and safeguards our national interests and security,” he said in an interview.How many measles cases has the US seen? His remark came as the incidence of measles crossed a milestone – the US has officially recorded 2,371 confirmed infections so far this year, surpassing the total tally in 2025 of 2,289. Taken together, in the past two years there has been more measles infections in the US than the rest of the 21st century combined. The last time a greater number of measles cases were recorded in a single year was in 1991. Continue reading...

Iranian spokesperson says there are no plans to receive or send a delegation following US president’s assertion that talks would take place todayTrump says Iran talks set for MondayHello and welcome to our live coverage of the Middle East.Esmaeil Baghaei, Iran’s foreign ministry spokesperson, told reporters at a weekly press briefing on Monday that Iran is not currently holding any talks with the US, Reuters reports – contradicting claims made by Donald Trump on Sunday night that talks with Iran would happen the next day. Continue reading...

Brent crude drops by 5% after US president said talks on Middle East peace deal would resumeBusiness live – latest updatesCrude oil prices fell sharply and European stock markets rallied on Monday after Donald Trump cancelled planned strikes on Iran to focus on negotiations for a peace deal.Brent crude was trading 5% lower at $83.50 a barrel by mid-morning, after falling as low as $81.55 a barrel. US West Texas Intermediate dropped more than $5 to $79.47 a barrel. Continue reading...

• On August 2, 2026, updates were released regarding the ongoing US-Israel war against Iran and Israel's military operations in Gaza and Lebanon. • Donald Trump announced that formal negotiations with Tehran are scheduled to begin this coming Monday. • These developments are critical as they signal a potential diplomatic shift amid escalating regional conflict and active combat in three separate fronts.

• Asian markets retreated as a broad selloff in AI-related stocks overshadowed optimism regarding the situation in Iran. • South Korea's KOSPI experienced the steepest decline, sinking 4%, while China's CSI 300 and Shanghai Composite fell 0.6% and 0.5% respectively. • Hong Kong's Hang Seng index bucked the trend, edging 0.3% higher driven by a 5% surge in Alibaba following the launch of a new flagship AI model.

• President Trump announced that talks regarding the US-Iran conflict will resume on Monday after he previously called off planned strikes. • Former Palestinian Authority leader Mohammed Dahlan claimed that Jared Kushner is working with Israel to halt attacks on Gaza, though the White House and State Department have not yet commented. • Israeli Energy Minister Eli Cohen contradicted reports of a ceasefire, stating there is no deal to stop attacks and arguing that Israel should take full control of the Gaza Strip, where it already controls 70%.

• On August 3, 2026, the Indian stock market opened strongly with the Sensex soaring 500 points and the Nifty touching 24,500. • The rally was driven by optimism over an Iran deal, which caused crude oil prices to slump 5% to $81 per barrel. • Global economic factors played a role, including strong AI chip demand boosting South Korean exports and joint FX interventions by Japan and the U.S. to support the yen.