Chinese scientists used satellite imagery to assess damage to US Middle East bases, finding US 'minimal damage' and Iranian 'massive strikes' claims overstated. Analysis published despite US 'shutter control' on high-resolution satellite imagery over conflict zones.
SK Hynix reports a 1,242% year-over-year increase in Q2 net profit to 93.9tn won, driven by AI industry demand for advanced memory chips. Despite record profits, shares fell 9.6% due to missed revenue and operating profit expectations.
Middle East conflict drives oil price spike above $4/gallon; expert Bob McNally cites structurally escalation-prone dynamics, depleted strategic stocks, and China's rebounding oil imports as factors leading to potentially record-high gasoline prices.
Centcom said Iran fired ballistic missiles at U.S. forces in the Middle East, while U.S. and Saudi forces struck sites in eastern Iraq in retaliation for drone attacks. The escalation has also pushed oil prices higher.
India urges de-escalation in West Asia after a surge in hostilities, condemning attacks on vessels in the Strait of Hormuz, which affected Indian nationals, and emphasizes the need for free navigation and peace in the region.
Iranian Foreign Minister Abbas Araghchi states Iran's actions are targeted against the US, not neighboring Middle Eastern countries, with plans for post-conflict dialogue and trust restoration.
US stocks (S&P 500, Nasdaq) fell as Middle East tensions drove oil prices up, inflation concerns rose, and investors scrutinized AI spending returns. Key earnings from Alphabet, Intel, and healthcare players like Eli Lilly and Johnson & Johnson also influenced the market.
Attacks on tankers and other vessels in the Strait of Hormuz, the Red Sea and the Black Sea are disrupting shipping and tightening oil markets. Brent crude has topped $100 as traders weigh the risk of further escalation.
Iran’s missile campaign against US and Gulf targets is becoming more accurate, according to analysts cited in the article. The piece links the improvement to Chinese satellite imagery, Russian tactics and advances in Iran’s ballistic missile programme.
Indonesia's National Economic Council Chairman, 78, expresses desire to relocate assets to Bali citing the unending Middle East conflict, amidst Indonesia's economic crisis.
Iran's military claims to have targeted US bases in Bahrain, Jordan, and Kuwait with drones in retaliation for US strikes, though damage and casualties are unconfirmed by the US; Jordan confirms intercepting Iranian missiles/drone attacks with no casualties.
Former US Deputy National Security Adviser Jon Finer discusses the challenges of deterring Houthi attacks on Red Sea shipping, Iran's influence, and the Biden administration's decision-making process. He also touches on the US-Saudi nuclear deal and prospects for a ceasefire in the Middle East.
Yemen's Houthi fighters claim Red Sea shipping attacks, threatening a key maritime route and exacerbating Middle East tensions. This occurs amidst ongoing US-Iran strikes and fears of a regional arms race following a Saudi nuclear deal.
Australian households are warned of a potential Reserve Bank interest rate hike and petrol prices exceeding $2 a litre due to the escalating Middle East crisis pushing global crude oil above $US100 a barrel, impacting inflation and household budgets.
India's Akasa Air seeks $110M for expansion, while Malaysia's AirBorneo launches international service, both growing despite high jet fuel prices and Middle East conflict, signaling smaller Asian carriers' growth amidst larger airlines' capacity issues.
U.S. Treasury yields slid on Friday, with the 10-year note dropping over 2 basis points, as oil prices declined following reports of Pakistan exploring U.S.-Iran peace talks. This occurred amidst President Trump's consideration of a "massive attack" on Iran.
Hong Kong's finance chief, Paul Chan Mo-po, stated the city can serve as a "super converter" for technical standards and innovations between mainland China and the global community, leveraging its international reputation for quality and trust.
China and Asean foreign ministers released a joint statement in Manila, addressing the ongoing energy crisis and the Middle East conflict, calling for a ceasefire and peaceful resolution, and welcoming US-Iran negotiations.
Southeast Asian governments face renewed energy shocks and trade disruptions due to revived US-Iran hostilities, prompting ASEAN foreign ministers to express grave concern and urge an immediate cessation of fighting.
US President Donald Trump threatened to seize frozen Iranian assets to cover damages to ships and cargo in the Middle East, following Houthi rebel strikes on Saudi tankers. Iran's Foreign Minister Abbas Araghchi condemned the move as a dangerous, 'incendiary precedent' with global implications.
South Korean food and confectionery companies, including Nongshim, CJ Foodville, and BR Korea, are raising product prices by 5.8% to 6.5% due to increased costs from the Korean won's depreciation and rising oil prices linked to Middle East tensions.
Global markets face a pivotal week with Federal Reserve, Bank of Japan, and Bank of England meetings, heightened by Middle East conflict, oil prices above $100, and new US tariffs. Investors also await Big Tech earnings and inflation data for interest rate clues.
Seoul stocks plunged nearly 6% on Friday, ending a three-day winning streak, as escalating Middle East tensions and a bearish outlook for the semiconductor sector sapped risk appetite. The KOSPI's sharp decline triggered a five-minute trading suspension.
Donald Trump's foreign policy approach to allies in the Middle East and Europe is likened to a protection racket, demanding financial compensation for US security. He proposed a 20% toll on Hormuz shipping and pressured NATO allies to increase defense spending and buy US weapons, framing security as a billable service rather than a collective good.
