Hong Kong's two major electricity suppliers will provide HK$80-90 million in rebates to eligible households between August and October. This initiative aims to ease financial pressure on residents due to increased energy prices, attributed to the US-Israel war on Iran.
The UN's International Maritime Organization is evacuating over 11,000 sailors stranded in the Strait of Hormuz following a US-Iran agreement. Shipping traffic has increased, but the strait's full reopening timeline remains uncertain.
Donald Trump signed an "Islamabad MOU" at the Palace of Versailles with French President Emmanuel Macron. Pakistani PM Shehbaz Sharif announced the deal, which includes Iran reopening the Strait of Hormuz and the US lifting its naval blockade. Analysts suggest the US made greater concessions due to its desire to end the war.
Oil prices are falling as markets anticipate stability following a potential US-Iran framework agreement. Brent crude futures dropped nearly 1% on Wednesday, extending previous declines, with analysts citing sentiment-driven trading and the prospective reopening of the Strait of Hormuz.
Donald Trump and JD Vance claim a deal to end the US-Israel war on Iran has been signed, with Iran's parliament speaker reportedly agreeing. Details are emerging from a 14-point list published by Iranian state media, covering a ceasefire, sanctions relief, and reopening the Strait of Hormuz.
A ceasefire ends the 108-day US-Israel war on Iran, resulting in thousands of deaths and hundreds of billions in economic losses. Despite tactical successes like assassinating leaders and degrading infrastructure, strategic goals of capitulation were not met, leading to a 'freeze' rather than a clear victory or defeat.
Global stock markets rebound sharply after US President Donald Trump announces cancellation of planned strikes against Iran and an imminent peace deal, easing geopolitical tensions and boosting investor confidence.
Despite anonymous reports of US presidents expressing anger and frustration with Israeli PM Netanyahu, US policy and support for Israel have remained consistent, with critics arguing that actions, not words, define the relationship.
Updates on US-Israel war on Iran and Israel's invasion of Lebanon as of May 31, 2026
Updates on US-Israel war on Iran and Israel's attacks on Lebanon from May 30, 2026
Oil prices drop 19% since April as tentative 60-day ceasefire between US and Iran nears, easing global economic chaos caused by the 90-day war, including the closure of the Strait of Hormuz.
Donald Trump announced a "memorandum of understanding" to end the US-Israel war on Iran is largely negotiated. The deal reportedly includes a 60-day ceasefire, reopening the Strait of Hormuz, and lifting US port blockades. Iran would clear mines and not impose tolls.
Donald Trump announced a "memorandum of understanding" to end the US-Israel war on Iran is largely negotiated. The deal reportedly includes a 60-day ceasefire, reopening the Strait of Hormuz, and lifting US port blockades, though details remain scant.
Chinese traders are exploring transcontinental freight links across Eurasia as a more reliable alternative to shipping routes through the Strait of Hormuz, which continue to face disruptions. Rail capacity is in high demand, with May slots fully booked.
The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion facility to support member countries dealing with the economic impacts of the US-Israel war on Iran, providing fast-disbursing budget support and financing for critical imports.
The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion facility to support member countries facing development impacts from the US-Israel war's effects on Iran. The aid will provide fast-disbursing budget support, finance critical imports, and offer liquidity.
EasyJet reports lower summer holiday bookings than last year, citing consumer confidence hit by the Middle East conflict and a trend of passengers booking later. The airline also faced unexpected fuel costs but assures no supply disruptions or flight cancellations.
Global investors are weighing inflation pressures and geopolitical risks against the US dollar's liquidity and lack of alternatives for capital flows. Japan reduced its Treasury holdings in March, while the UK increased theirs.
Mainland Chinese investors reduced their holdings of US Treasury bills in March due to global market uncertainties, including the US-Israel war on Iran, which fueled inflation and energy price concerns, analysts said.
President Trump announced a postponement of a planned attack on Iran, citing "serious negotiations" and the intervention of regional leaders. He warned a full-scale assault could occur if a deal isn't reached, with a key demand being no nuclear weapons for Iran.
The UAE exits OPEC's quota system, allowing it to pump beyond 4.8 million barrels/day. This move grants flexibility for supply deals, notably with India, its largest LNG customer and a significant oil importer.
The UAE is accelerating its AI strategy with the delivery of advanced Nvidia chips, aiming to become an AI hub for the Global South. Despite regional conflicts, the nation is investing in US tech and developing its own AI models, adapting to threats against its data centers.
Meentropy Technology Hangzhou Co Ltd, an OSINT start-up, was added to the US Treasury's SDN list for publishing images of US military activity.
South Korea is drawing growing interest from Middle Eastern oil producers seeking to store crude oil at the country’s petroleum reserve bases, the world’s sixth largest, amid a prolonged blockade of the Strait of Hormuz, a South Korean official and an expert on the matter have said. The strait’s closure in the wake of the US-Israel war on Iran has taken a toll not only on South Korea and other nations dependent on oil imports but also oil-producing countries whose storage tanks are filling up...
