The Bank of Japan raised its benchmark rate to 1%, the highest since 1995, citing energy-driven price pressures and rising inflation expectations. The move continues Japan’s shift away from decades of ultra-low borrowing costs.
Posts tagged as “Golden Age of the Middle East”
Trump arrived at the G7 summit in France touting a signed Iran memorandum and saying the Strait of Hormuz is partially reopening. The summit is also expected to focus on Ukraine, AI, economic issues, immigration and supply chains.
A U.S. Air Force B-52 Stratofortress crashed shortly after takeoff Monday at Edwards Air Force Base in California. Officials said emergency crews responded, the airfield was closed and no immediate information was available on casualties or the cause.
Oil prices dropped after Trump announced an initial US-Iran deal to reopen the Strait of Hormuz, but shipping, insurance and mine-clearing hurdles could delay a return to normal. Analysts warn energy, fertiliser and consumer prices may remain under pressure for months.
The United States and Iran say they have reached a tentative agreement to end the war, reopen the Strait of Hormuz and halt fighting in Lebanon. The deal is expected to be signed Friday in Switzerland, but nuclear issues, sanctions relief and Israel’s role remain unresolved.
Trump and Pakistan said a U.S.-Iran deal could be finalized within 24 hours, but Iran said it would not be signed Sunday. The proposed memorandum includes provisions on the Strait of Hormuz, the U.S. blockade of Iranian ports and Iran’s enriched uranium stockpile.
Trump said a deal to stop the war with Iran could be signed Sunday and that the Strait of Hormuz would be “open to all” afterward. Iran rejected the Sunday timeline but said a signing could happen in the coming days.
Trump rejected Iranian media reports describing alleged terms of a possible ceasefire agreement, calling them fake and unrelated to what had been agreed. Iranian and U.S. accounts differed sharply over sanctions relief, frozen assets, the Strait of Hormuz and Iran’s nuclear program.