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Pakistan recorded a current account deficit of $139 million in FY26, reversing the previous year's surplus, according to State Bank data reported by Dawn. Record remittances of about $41.6 billion limited the gap amid a large trade deficit and falling foreign direct investment. Early FY27 saw Gulf-related investment outflows, including a Bahrain withdrawal and a UAE deposit shift later offset by Saudi Arabia.
Pakistan is reportedly negotiating an expanded defence pact with Kuwait, which seeks a show of force similar to Islamabad's agreement with Saudi Arabia. The talks are at an early stage and could be complicated by US-Iran tensions, according to Reuters, as reported by Dawn and the Jerusalem Post. Pakistan also endorsed Saudi Arabia's recent air strikes in Iraq, reaffirming its defence commitments to Gulf partners.
The US military has conducted a seventh night of strikes on Iran, aiming to degrade Iranian military capabilities, while Iran's Revolutionary Guards claim to have hit US facilities across the Gulf. The conflict has disrupted shipping in the Strait of Hormuz, with both sides exchanging accusations and denials.
Reports say Trump Media and Technology Group is considering charging for early access to Truth Social posts, including possibly the president's own, a move critics call an ethics breach. The company is also reportedly planning a high-speed feed for traders, though pricing details remain unclear.
Iran's Islamic Revolutionary Guard Corps (IRGC) has reported carrying out multiple waves of drone and missile strikes against US military facilities in Kuwait and Jordan, according to Iranian state media and statements cited by TASS. Targets included air bases, fuel storage tanks, and HIMARS systems. Kuwaiti air defenses were reportedly activated to intercept Iranian drones.
The United States and Iran have expanded their conflict by striking infrastructure targets, with US forces hitting bridges in Iran and Tehran responding by attacking a power and desalination plant in Kuwait. At sea, US Marines boarded a tanker near the Strait of Hormuz, two oil tankers exploded after passing through a mined route, and armed men seized a vessel off Yemen. Iran's Revolutionary Guards warned that no oil or gas could be exported from the region until US aggression ends.
Iraq has signed dozens of agreements with American companies during a visit by Prime Minister Ali al-Zaidi, including a deal to revive the Kirkuk-Baniyas crude oil pipeline. The move aims to reduce dependence on the Strait of Hormuz, which has seen disruptions due to the US-Israeli war against Iran. The US State Department has welcomed the plan, expecting American companies to play a key role.
Iran's Islamic Revolutionary Guard Corps says two oil tankers struck mines and caught fire in the Strait of Hormuz, a claim the US military disputes. The incident is the latest in a series of confrontations over control of the vital waterway, with Iran warning ships to avoid routes it deems unsafe.
Kuwaiti forces intercepted dozens of drones and reported injuries from shrapnel as Iran launched strikes targeting US assets, while the government established a $100 million fund to address emergency infrastructure repairs.
Rahm Emanuel's speech at Tel Aviv University, where he warned Israel about losing international legitimacy, has ignited a debate within the Jerusalem Post over the Democratic Party's shifting stance. Commentators offer divergent views on the influence of the Progressive faction and the impact of recent political events.
US forces have carried out a seventh consecutive night of strikes on Iran, targeting infrastructure and military sites, while Iran retaliates with drones and missiles against US-allied Gulf states. The conflict, triggered by US President Donald Trump's declaration that the peace deal is over, has caused a humanitarian crisis, with a desalination plant hit leaving 10,000 people without water.
The United States has carried out a seventh consecutive night of strikes against Iran, with US Central Command saying the attacks aim to degrade Iranian military capabilities. Reports also indicate the deployment of a B-1 long-range bomber, and US officials and regional allies have expressed concerns about further escalation.
Iran has attacked a Thai-flagged vessel attempting to pass through the Strait of Hormuz without permission, according to Iranian news agencies cited by TASS. The incident is part of a broader escalation between the US and Iran following US airstrikes on July 8.
As the Strait of Hormuz remains closed amid renewed US-Iran hostilities, Gulf states and global markets are accelerating efforts to bypass the critical waterway. New pipelines, including a proposed link through Israel, and expansions of existing routes are being considered to reduce dependence on the strait, though analysts caution about the long-term viability of these alternatives.
The Trump administration has told Israel it will send dozens more refueling planes ahead of potential expanded operations against Iran, according to an Axios report cited by the Jerusalem Post. This has escalated a dispute over space at Ben-Gurion Airport, where the US military prefers to keep its aircraft despite Israeli demands to relocate them.
Israel plans to mass-produce JDAM guided bombs within two years, aiming for greater self-sufficiency in munitions. The move follows a partial US arms freeze in 2024 and has seen agreements with Elbit Systems and ramped-up production efforts.
Secretary of State Marco Rubio convened representatives from more than 60 countries to refocus international counterterrorism on 'far-left terror,' a move that has drawn criticism from Democrats and civil liberties advocates who question the data behind the designation.
Iran has accused the United States of bombing civilian infrastructure in its latest wave of airstrikes, with bridges, a train station, and an airport among the reported targets. The strikes follow President Trump's threat to hit infrastructure to pressure Tehran over the Strait of Hormuz, and Iran has responded with missile attacks on US-allied nations.
Russian Foreign Minister Sergey Lavrov said the Kiev regime is concerned that the Iran conflict is diverting Western attention from Ukraine, while also describing his talks with Azerbaijan's foreign minister as productive and candid. He responded to Western offers of help by noting Russia's military capabilities.
President Trump accused China of interfering in US elections, citing intelligence files and voter data theft. China's foreign ministry dismissed the claims as 'pure fabrication and malicious slander,' urging Washington to stop baseless accusations. The US intelligence community has previously concluded China did not interfere in the 2020 election.