US-Iran Escalation: Fresh US airstrikes and Iranian retaliation have again shaken a fragile ceasefire, with sirens reported across Bahrain, Kuwait and Jordan and Tehran warning of wider consequences. Diplomacy Under Strain: AFP reports mediators are trying to salvage talks, with Qatar sending a delegation to Iran and Iran’s top diplomat Abbas Araghchi heading to Oman to discuss Strait of Hormuz procedures. Strait of Hormuz Pressure: The US is demanding public guarantees that shipping lanes stay open, while oil markets react to renewed supply fears and shipping hopes. Regional Economic Fallout: QNB warns the US-Iran escalation will keep hitting Asia’s fiscal positions, reserves and food security long after the crisis ends, as Hormuz disruption has already cut a major share of global oil and LNG flows. Saudi Economy Watch: Fitch kept Saudi’s rating but forecasts slower growth in 2026, blaming trade disruption from Hormuz instability. Gulf Tech & Trade: The US eased export controls for the UAE, expanding access to AI chips and some military-related items, while critics warn of diversion risks. India-New Zealand Pivot: Modi and Luxon upgraded ties to a Strategic Partnership, unveiling a Roadmap to 2030 and targeting double trade by 2030. Gulf Business: Bahrain is in talks to potentially return Formula 1 to the 2026 calendar, with decisions tied to easing US-Iran tensions.