A geopolitical region of West Asia and parts of North Africa, historically central to global politics, conflict, and energy
Spain’s Fernandez has won the MotoGP race, recovering from a Saturday crash to beat Martin and Bezzecchi, extending the championship lead. Martin’s ride-height issue at turn one hampered his start but he finished second, with Bezzecchi third. The result boosts Fernandez and Bezzecchi in the standings while Martin extends his lead.
President Donald Trump has said he has paused a planned major attack on Iran and is pursuing fast-track negotiations to reopen the Strait of Hormuz and curb Iran's nuclear programme. Regional mediators including Qatar and Oman, plus US partners such as Saudi Arabia and the UAE, are involved; Iran denies direct talks with Washington. Shipping attacks and missile strikes continue to threaten energy routes.
AP News reports a sluggish 1.5% second-quarter growth with consumer spending rising, inflation cooling but still above target, and higher mortgage rates, amid Iran-related energy volatility. The economy shows resilience, but pressures on households and the Fed remain.
Official figures from the Office for National Statistics are expected to show the UK economy has maintained growth in the second quarter, with GDP likely rising around 0.4%. Services and manufacturing input point to resilience despite supply pressures and political uncertainty. Analysts warn June may show a dip as heatwaves bite activity, but a quarterly rebound remains probable.
Iraq’s prime minister has pledged to bring armed groups under state control by Sept. 30 amid regional tensions. US-Saudi strikes target PMF sites, intensifying debates over sovereignty and disarmament as Tehran-aligned factions resist restrictions and border tensions rise.
The Western and European figures have held undisclosed talks on Ukraine peace in recent months, with officials from several countries involved. Bloomberg reports the conversations aim to restart discussions, while other outlets note limited public comment from governments.
Oil benchmarks have fallen sharply after US President Donald Trump has said he called off planned strikes on Iran and reported that talks to reopen the Strait of Hormuz will begin. Brent has dropped from above $100 to about $83 and US crude has fallen below $80, while markets and bond yields are reacting to lower geopolitical risk premiums.
Technical delegations from Lebanon and Israel have met in Rome this week to progress a US-brokered framework that links Israeli withdrawals to verified Hezbollah disarmament and Lebanese army deployments in pilot zones. Talks are running as Israeli forces continue strikes and demolitions in southern Lebanon and as Beirut presses for more pullbacks and international verification.
The Iran conflict has escalated with threats of strikes and shifting diplomacy as both sides test red lines. U.S. officials warn of hard actions while Iran asserts control over Hormuz. A ceasefire cycle and domestic political pressures frame new steps as global oil markets react.
Polls show public unease over the Iran war, with support for Trump’s handling of the conflict dropping across parties. Voters cite rising fuel costs and unclear objectives as costs of the war, ahead of November midterms.
A wave of Chinese carmakers is expanding rapidly into Europe and the UK, challenging traditional premium brands. Zeekr, BYD and others are pursuing UK launches, while major players like Geely, Volvo and Lucid push into premium segments. At the same time, U.S. and European carmakers are restructuring to cope with China’s rising export power and a shifting supply chain.
Zimbabwe reports continued macro stability in 2026 with inflation easing and GDP growth projected around 5%, supported by fiscal consolidation, investment and value addition. Mid-year budget review signals policies aimed at livelihoods, investment, and service delivery amid regional uncertainties.
Mortgage rates have risen to multi-month highs, with the 30-year fixed rate around 6.66-6.69% in late July/early August, according to Freddie Mac. Applications have declined, and refinancing demand remains weak as higher borrowing costs dampen homebuyer activity. Long-term yields reflect ongoing inflation concerns amid geopolitical tensions.
UK house prices have shown only marginal growth in July, with a 0.1% month-on-month rise and a 0.1% year-on-year increase. Affordability remains a challenge as mortgage rates edge higher amid geopolitical tensions. Northern Ireland leads gains, while the south and London lag.
Public finances tighten as Labour government sets October 28 budget date while pursuing devolution, defence spending and growth plans within fiscal rules amid Iran-related pressures.
El Niño is strengthening and could reach record intensity, boosting global temperatures and altering rainfall patterns. The World Meteorological Organization warns of heat, droughts and floods across affected regions, with food security data tightening as governments prepare for climate shocks.
Japan and the United States have conducted a coordinated yen-buying intervention after the currency fell to four-decade lows near ¥163. Officials have said the joint action has pushed the yen toward ¥156–157, that both sides remain ready to act again, and that Washington sold euros rather than dollars to fund its purchases to avoid disrupting US Treasury markets.
The movements of personnel and equipment between Harir Air Base, Erbil, and the US consulate are described as preparation for the withdrawal of remaining US troops under the 2024 agreement. Washington and Baghdad have framed the shift as a routine repositioning and a step toward ending the mission by September.
OPEC+ has decided to increase output by 188,000 barrels per day from September 2026, a move designed to stabilise markets and compensate for past overproduction. Nigeria remains under its DoC allocation and will not see changes to its targets as it seeks to raise crude output. The group will meet again on Sept. 6 to review conditions and consider further adjustments.
US officials say negotiations between Iran and Oman to reopen the Strait of Hormuz are progressing and could restore free shipping soon. Markets react, with crude prices slipping as optimism grows that passage may reopen. Washington is stating there is no final agreement yet, while energy prices remain volatile amid regional tensions.
Global automakers have updated forecasts as the yen sits around ¥150-¥160 per dollar. Toyota lifts its full-year operating profit outlook; Nissan reports a quarterly reversal to profit with improving US and Japan demand amid currency dynamics and regional disruptions.
Japan has bolstered its military capabilities, prioritizing domestic drone development and long-range missiles as deterrence against China. Cabinet defence paper stresses speed, expanded arms production, and a shift toward homemade unmanned weapons to offset a shrinking workforce.
Recent fighting between the Sudanese army and RSF has intensified across multiple fronts. Humanitarian access remains constrained, with millions in need and aid convoys increasingly at risk. International efforts to de-escalate are ongoing as the Quintet presses for a ceasefire and a Sudanese-led political process.
The BP windfall is driving renewed calls for a windfall tax as profits soar amid Middle East conflict. Campaigners say households face higher bills while governments weigh potential measures to curb corporate gains and accelerate the transition to cleaner energy.
BP has reported a quarterly profit of $5.73bn, more than doubling year-on-year, driven by higher oil prices amid Middle East conflict. The group plans to sell its US renewable natural gas unit Archaea and is considering further asset disposals, including a potential North Sea exit. CEO Meg O’Neill says the company is focusing on assets with the strongest potential to deliver returns.
The United States is nearing depletion of long-range missiles, with ATACMS and PrSM stocks reportedly nearly exhausted. Officials warn this could constrain deterrence and affect future military options, even as production ramps up. White House and defense voices insist the arsenal remains formidable.
The World Food Programme has warned that funding gaps threaten nutrition aid in Afghanistan, with 142 health centers closed in 2025 and over 13,000 children cut off from nutrition treatment. 3.7 million Afghan children are at risk this year, alongside 1.2 million pregnant and breastfeeding women. Disruptions from conflict, high food prices and funding shortfalls have halted distributions through peak malnutrition season; $540 million is urgently needed over the next six months.
The Israel Defense Forces have eliminated multiple Hamas targets in Gaza amid ongoing clashes following the October 7 events. Officials say precision strikes are aimed at minimizing civilian harm while pursuing commanders and infrastructure tied to the attack.
Fed dissenters argue inflation remains too high and supply shocks persist; they advocate a series of small rate increases to curb inflation, while the majority holds rates steady. The coming months will test whether this hawkish push gains traction.
Wizz Air has posted an operating loss of 183 million euros for April–June, reversing a year-earlier profit as jet-fuel prices surge with Brent crude above $120. The carrier says market prices are up about 87% and is reallocating capacity from Middle East routes to Europe while expanding passenger traffic to 21.2 million.
Iran and Oman are nearing an agreement on a temporary, bilateral route through the Strait of Hormuz to restore shipping, but Tehran says this does not guarantee safe passage or a full reopening. U.S. officials anticipate a broader deal is still needed, and regional actors warn that security remains contingent on U.S. actions and broader ceasefire negotiations. Prices have been sensitive to these developments.
The Federal Reserve has held rates as inflation remains above target; dissenters have pressed for earlier tightening while others call for patience. Markets are watching the inflation data due next week as traders adjust bets on the path for policy.
Iranian President Masoud Pezeshkian has met Supreme Leader Mojtaba Khamenei in a rare public engagement as Tehran says talks with Washington continue through mediators. Iran hints that footage showing Khamenei among the people will be released in the future, while officials press the narrative of a resilient leadership amid a widening regional crisis.
Conservative figures have clashed over cost-of-living concerns sparked by a Turning Point USA post about a burrito allegedly costing $20. Marc Thiessen has clashed with JD Vance online, while Vance defends a spicy rebuttal as inflation and affordability stay central to the political debate.
The Pentagon has urged defense firms to dramatically speed up production to replenish reduced stockpiles amid ongoing tensions with Iran. Feinberg has called for plans within 21 days to boost capacity, signaling a push to rebuild the defense industrial base as Congress debates funding.