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Ofgem's quarterly price cap will increase by nearly 13% from July, pushing a typical household energy bill to £1,850 a year. The rise, driven by the Iran war and higher wholesale gas prices, has sparked calls for government support, though the chancellor has so far only offered targeted measures.
Israel's defense minister confirmed the assassination of Hamas military chief Mohammed Ouda, the second such killing in under two weeks. The strike has heightened focus on Gaza's future and Israel's long-term plans, including controversial migration proposals.
Iran's national football team will be based in Tijuana, Mexico, during the 2026 World Cup after the United States declined to host the squad. The team will travel to the US for its group stage matches and return to Mexico, with Mexican President Claudia Sheinbaum confirming the arrangement.
Iranian Supreme Leader Ayatollah Mojtaba Khamenei, in a written address marking the Hajj pilgrimage, declared that Middle Eastern nations will no longer serve as hosts for US military bases, warning that Washington is losing its position in the region. He also reiterated harsh rhetoric against Israel, describing it as a 'cancerous tumor' nearing demise, while praising the so-called Axis of Resistance. The statement comes amid ongoing tensions and indirect negotiations between Washington and Tehran.
South Korea’s KOSPI closed above 8,000 points for the first time on May 26, 2026, rising 2.55 percent as foreign investors returned to net buying on optimism over a possible U.S.-Iran peace framework. The rally, driven largely by AI-linked semiconductor shares, has lifted Korean equity market capitalization well past earlier milestones and above the estimated value of the greater Seoul housing market.
US President Donald Trump has demanded that several Muslim-majority nations, including Saudi Arabia, Qatar, and Pakistan, sign the Abraham Accords as part of a potential deal to end the Iran war. The proposal has met with resistance from Pakistan, skepticism from Gulf states, and criticism from analysts who question its timing and logic.
South Korean stocks closed above the 8,000-point level for the first time, driven by optimism over a possible U.S.-Iran peace agreement. The KOSPI gained 199.8 points, or 2.55 percent, to close at a record 8,047.51. President Trump's comments on talks proceeding 'nicely' and falling oil prices buoyed investor sentiment.
US Central Command conducted self-defence strikes on Iranian missile sites and boats attempting to lay mines in southern Iran, as Iranian negotiators arrived in Qatar for talks to end the war. Iran denounced the strikes as a 'gross violation' of the ceasefire and warned of consequences, while signalling that negotiations remain ongoing.
The US military launched self-defense strikes in southern Iran targeting missile launch sites and mine-laying boats, even as diplomatic talks continue. Officials on both sides express cautious optimism, but Iran warns a deal is not imminent.
Iranian President Masoud Pezeshkian has ordered the restoration of international internet access after a near-total blackout lasting over 80 days, according to state media. The move follows widespread protests and the war with the US and Israel, but the mechanism and timeline for reconnection remain unclear.
President Donald Trump stated that negotiations with Iran are proceeding steadily, dismissing reports of a suspension, while warning that failure to reach a deal would result in renewed US attacks. Iran's foreign ministry said talks are focused on ending the war, not nuclear issues, amid ongoing Israeli strikes in Lebanon.
An Iranian Health Ministry spokesman described Supreme Leader Ayatollah Mojtaba Khamenei's injuries from U.S.-Israeli strikes as superficial, but the leader's continued public absence fuels speculation. Reports differ on the severity of his condition, with some suggesting he may be severely wounded or dead.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar is set to visit New York from May 26-28 to attend high-level UN Security Council meetings, including a debate on upholding the UN Charter. The visit comes amid Pakistan's diplomatic push for de-escalation in the US-Iran confrontation, with Dar meeting UN Secretary-General António Guterres and other counterparts.
Israeli Prime Minister Benjamin Netanyahu has told confidants he has little ability to sway US President Donald Trump's decisions on Iran, as Washington and Tehran negotiate a preliminary agreement. Israel has been largely excluded from the talks, which focus on a memorandum of understanding that does not address Iran's nuclear program or enriched uranium stockpile, according to reports.
Reports that the US and Israel considered installing former Iranian president Mahmoud Ahmadinejad as part of a regime transition have drawn sharp criticism from the Iranian diaspora, who see it as a betrayal of the people's aspirations. The New York Times report, based on anonymous American sources, claimed an early war goal was to free Ahmadinejad from house arrest and return him to power, but diaspora activists and analysts express doubt about the plan's credibility and its potential to undermine the push for democratic change.
The United States and Iran have signaled progress toward a possible agreement to end a three-month war and reopen the Strait of Hormuz. Negotiators acknowledge significant hurdles, including the nuclear issue and control of the strait. Media reports differ on how close a deal is and what it entails.
Iran's Foreign Ministry spokesman said FIFA must guarantee safe conditions for the national team at the 2026 World Cup, following a meeting in Turkey that gave FIFA confidence in Iran's participation. The team has been granted visas, with training base moved to Mexico, amid earlier uncertainty over participation due to safety concerns.
Iran's foreign ministry spokesman says Tehran and Washington have reached understandings on many issues in talks over ending the war, but cautions that an agreement is not imminent. A 14-point framework is being finalised, and U.S. Secretary of State Marco Rubio suggested a deal could materialise on Monday, though President Trump urged negotiators not to rush.
Chinese President Xi Jinping thanked Pakistani Prime Minister Shehbaz Sharif for Pakistan's proactive role in mediating peace in the Middle East during a visit marking 75 years of diplomatic relations. Both sides pledged close coordination to promote stability in the region.
US intelligence reports suggest Iran's Supreme Leader, Mojtaba Khamenei, is only reachable through a chain of couriers, which is causing delays in negotiations. Meanwhile, US Secretary of State Marco Rubio says talks will continue for several more days, with key disputes over frozen assets and enriched uranium remaining.