U.S. President Donald Trump stated in the Oval Office that he believes the war with Iran will conclude soon, while acknowledging supply constraints within the armed forces for certain high-powered munitions, according to reporting by Jacob Bogage for Reuters, with writing by Jasper Ward and editing by David Ljunggren. Munitions Stockpiles and Defense Production Pressures … Read more
According to shipping data from Kpler, transit volumes at these critical maritime chokepoints fell significantly compared to the previous day, following reports of missile attacks on tankers in the region. Strait of Hormuz Traffic Nears Standstill Transit through the Strait of Hormuz, a vital artery for global energy supplies, slowed to just two vessels on … Read more
Chinese mainland tax authorities have started levying a 20% personal income tax on returns from offshore insurance policies, according to a report by Caixin citing tax lawyers and insurance insiders. The enforcement action triggered a steep sell-off in major insurers, with Prudential shares falling as much as 13% on Wednesday. Tax Crackdown Targets Offshore Insurance … Read more
The U.S. Treasury removed counter-terrorism sanctions from Iraq’s Fly Baghdad Airlines and two aircraft, citing operational changes by the carrier that resolved previous links to Iran’s Islamic Revolutionary Guard Corps Quds Force. According to a Treasury official, the decision does not signal any broader policy shift toward the Iranian government or alter ongoing regional postures. … Read more
According to a senior Iranian source speaking to Reuters on Tuesday, Iran wants control over inbound shipping through the Strait of Hormuz and visibility over outbound traffic under a temporary plan being discussed with Oman. The strategic waterway handles approximately one-fifth of global oil supplies and has remained largely blocked since the U.S.-Israeli war on … Read more
The U.S. military has exhausted virtually all of its long-range surface-to-surface munitions, including Army Tactical Missile Systems and newer Precision Strike Missiles, during its five-month conflict with Iran, according to three people familiar with internal data. The drawdown of these high-precision weapons, which cost over $1 million each, has triggered internal warnings from military officials … Read more
Asian stock markets are showing cautious gains as investors react to a global rally, while oil prices remain near the lowest levels in weeks amid a stalemate in U.S.-Iran tensions. Regional indices are responding to strong U.S. manufacturing figures that pushed the Dow Jones Industrial Average to a record close, even as markets weigh the … Read more
Spot gold rose 0.6% to $4,063.35 per ounce as oil prices fell following U.S. President Donald Trump holding off on fresh attacks on Iran, slightly easing concerns over inflation and higher interest rates, according to market data reported by Reuters. U.S. gold futures edged 0.1% higher to $4,053.70, while broader precious metals saw gains alongside … Read more
China’s manufacturing sector expanded at its slowest pace in four months in July, as output and new orders rose more moderately, according to a private-sector survey released on Monday by S&P Global and RatingDog. The RatingDog China General Manufacturing Purchasing Managers’ Index (PMI) fell to 50.9 in July from 51.7 in June, missing analysts’ consensus … Read more
Iran warned against any adventurous action by the United States, vowing a proportionate response to any potential strikes on energy infrastructure or regional participation in military actions. According to Iranian Foreign Minister Abbas Araqchi, Tehran will retaliate decisively following recent threats from President Donald Trump, while regional states manage security fallout from drone strikes and … Read more