US missiles struck targets in Iran, including the Caspian coast and Ahvaz, killing four. This followed Iran's attacks on US bases in Kuwait and Bahrain, and Jordan intercepting Iranian missiles. The escalation comes after Trump vowed "major military punishment" for Iran and its Houthi allies over a Red Sea blockade.
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 use frozen Iranian assets to pay for damages to ships and cargo in the Gulf, a move Iran's foreign minister Abbas Araghchi called an "incendiary precedent." This comes amidst US strikes on Iran and Houthi threats to Red Sea shipping.
Kin Keung Ho and Lihua Owen Ma, residents of Staten Island, pleaded guilty to illegally exporting hundreds of US native turtles, falsely labeling packages. They face up to five years in prison and a $250,000 fine.
The US military targeted Iran's command centers and maritime capabilities for the 13th consecutive night, while Iranian state media reported explosions. The US also redirected 12 commercial vessels in the Strait of Hormuz. This follows Houthi attacks on Saudi oil tankers, prompting US President Trump to threaten military punishment and use seized Iranian assets for damages. German Chancellor Merz condemned Houthi attacks.
AMD launched its Helios AI rack system and Venice-X CPU, aiming to challenge Nvidia's market dominance. CEO Lisa Su announced major customers like Microsoft and predicted the AI accelerator market would reach $1.4 trillion by 2030, driven by agentic AI demand.
US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies after Houthi fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East conflict. The attacks, coupled with US airstrikes on Iran, sent global oil prices surging and raised fears of a wider economic downturn.
China's significant role in global maritime finance and shipping has led to a carve-out in certain regulations, demonstrating Beijing's economic leverage. An EU official detailed how Chinese financial arrangements and shareholding in vessel companies create a risk of asset loss for borrowers.
The Houthi militia in Yemen appears to be selectively allowing some ships, including a Chinese oil tanker, through the Bab al-Mandab strait despite a declared blockade on shipping to Saudi Arabia, following a recent confrontation and an attack on a Saudi tanker.
The article says Houthi attacks and threats in the Red Sea could further disrupt global shipping as US-Iran conflict, Gulf instability and Saudi nuclear ambitions raise regional risks.
The US-Iran conflict has escalated with renewed strikes, effectively ending a June truce. Experts warn of a potential "forever war" focused on the Strait of Hormuz, as diplomatic efforts falter and both sides prioritize pressure over compromise, threatening global oil and gas supplies.
Federal prosecutors charged 12 individuals in an alleged cargo theft conspiracy that diverted over $2 million worth of Nike shoes from the company's Memphis logistics center between July 2021 and June 2024. Nike employees allegedly used unauthorized UPS labels to redirect shipments to resellers.
Oil prices surged to $100 per barrel following renewed US and Iranian attacks in the Gulf and Houthi rebel strikes on Saudi oil tankers in the Red Sea. This escalation threatens key shipping routes like Bab el-Mandeb, potentially doubling the blow to global energy markets after the Strait of Hormuz crisis and leading to higher consumer fuel costs worldwide.
Insurance costs for ships crossing the Strait of Hormuz and Bab al-Mandeb have risen sharply as war-related disruption reduces traffic and raises attack risk. S&P Global says premiums in Hormuz have climbed to 7.5%-10% of hull value.
Shanghai, home to the world's largest container port, has released a five-year plan to enhance its shipping services sector, leveraging AI and automation. The strategy aims to expand value-added industries like financing, insurance, and legal services, intensifying competition with hubs such as Hong Kong, Singapore, and London.
China's durian imports increased by 47% year-on-year in the first half of 2026, reaching 1.07 million tonnes, as Southeast Asian exporters, particularly Thailand, Malaysia, and Vietnam, offloaded a fruit glut that led to a price drop.
Centenarian performance artist Ken Turner, ahead of a new exhibition in Penzance, reflects on his rebellious life and career. He discusses his journey from creating immersive inflatable sculptures in the 1960s to driving a tank over a Tesla last year, consistently challenging art conventions and the establishment with socially conscious work.
EU countries reached a deal on their 12th sanctions package against Russia, resolving a dispute over Russian gas shipments to third countries with a limited exemption for existing contracts. The bloc also agreed to freeze its price cap on Russian crude oil for 12 months.
US President Trump threatened to bomb Iranian infrastructure if attacks on Red Sea shipping continue, escalating tensions. This coincides with Houthi rebel attacks in the Red Sea and mixed Q2 earnings from major tech firms like Alphabet, Tesla, and IBM.
Russian Foreign Ministry Spokeswoman Maria Zakharova stated that escalating tensions in the Persian Gulf, marked by exchanges of strikes, pose a risk of shipping disruptions in the Strait of Hormuz and the Red Sea, complicating regional mediation efforts.
The EU is reportedly preparing to allow Greek shipping company Dynagas to continue transporting Russian LNG to third countries for 12 months, capping volumes at 2025 levels, as part of its 21st sanctions package, following opposition from Greece and other member states seeking exemptions.
Iran's IRGC representative Hossein Mohebi warned shipping companies that the southern routes through the Strait of Hormuz are mined, advising against passage due to the ongoing escalation in the US-Iranian conflict that began on July 8.
Global trade surged 12.5% to $13.7 trillion in H1 2026, with services up 10.5%, UNCTAD reported. This growth largely reflects higher prices due to shipping disruptions in the Strait of Hormuz and fuel supply chain concerns, rather than increased trade volumes.
US President Donald Trump threatened to destroy Iranian infrastructure, including bridges or power plants in or near Tehran, for any attack on ships in the Strait of Hormuz, amid escalating US strikes on Iran and the strait's closure impacting global oil trade.
