Hormuz Risk and Weak Sales Cloud the Fed

Edition · desks

• Kabul, Afghanistan Local 12:31 · Sun · working now Kabul opens Sunday with the Taliban staging victory parades outside the former U.S. embassy to mark five years in power, even as Interior Minister Sirajuddin Haqqani made a rare acknowledgement that "issues and problems" persist. Aid groups warn of deepening isolation and a hunger crisis affecting 14 million people, while the government remains internationally unrecognized outside Russia. Domestically, Da Afghanistan Breshna Sherkat has suspended new electricity meter distribution on orders from the Prime Minister's Office, leaving residents complaining of rolling outages despite hydropower dams filling to roughly 90 percent capacity after recent rainfall. The capital's Saturday-to-Thursday work week starts under a power grid caught between seasonal relief and unfinished infrastructure.

  TOLOnews — Taliban mark five years in power · TOLOnews — DABS suspends new electricity meter distribution · UN News — 14 million face acute hunger · AP — Flores rescue operations · Reuters — Five years of Taliban rule

• Tehran, Iran Local 11:31 · Sun · working now Tehran enters Sunday with the Hormuz standoff hardening even as Muscat talks advance. Deputy Foreign Minister Kazem Gharibabadi rejected President Trump's vow to declare the strait U.S. territory, insisting the waterway stays under Iranian command until Washington accepts defeat, while Foreign Minister Abbas Araghchi told Shahrara News that Tehran has made no decision to resume direct U.S. talks. Parliament's National Security Committee is scheduled to study a "Smart Management Plan" for the strategic chokepoint as Kpler counts show tanker traffic remains a trickle. TSE opens at 9 a.m. into a weekend where diplomatic scaffolding with Oman coexists with gasoline averaging $4.08 a gallon in the United States and Treasury Secretary Scott Bessent promising fresh sanctions pressure next week.

  Tehran Times — Iran rejects Trump Hormuz territory claim · Financial Tribune — Araghchi says no decision yet on US talks · IRNA — Iran-Oman route talks separate from reopening · Al Jazeera — Hormuz smart management plan · Times Now — Route map agreement progress

• Dhaka, Bangladesh Local 14:01 · Sun · working now Dhaka's Sunday tape opens with a twin industrial squeeze: gas shortages have halted production at more than 100 factories across Narayanganj, Narsingdi, Gazipur and Chattogram, including essential-goods and pharmaceutical plants, while the National Board of Revenue's online VAT refund module remains stalled since November, trapping an estimated Tk14,000 crore across thousands of firms. Against that friction, BRAC Bank posted a 57 percent jump in first-half consolidated profit to Tk14.23 billion and the Bangladesh Bank met Asian Development Bank officials to map banking-sector reforms targeting distressed loans exceeding Tk10 lakh crore. The juxtaposition captures a garment capital where corporate winners advance while fuel and fiscal machinery block working capital on the factory floor.

  Prothom Alo — Gas shortage halts 100-plus factories · The Business Standard — VAT refunds pile up as NBR system stalls · The Financial Express — BRAC Bank stellar H1 2026 · The Asian Age — ADB and Bangladesh Bank reforms · The Business Standard — Spectrum pricing debate

• Kathmandu, Nepal Local 13:46 · Sun · working now Kathmandu closes the NAIMA Mobility Expo on Sunday after more than 150,000 visitors and 53 new vehicle launches, a consumer-facing signal that electric mobility is gaining shelf space even as export policy underperforms. Nepal Trade Integrated Strategy goods grew just 3.16 percent last fiscal year while overall exports rose 13.81 percent on re-exported edible oil, exposing the gap between headline trade numbers and high-value production. Finance Minister Swarnim Wagle said foreign-currency IPO rules for non-resident Nepali joint ventures are nearing Cabinet approval, potentially unlocking an 85 percent diaspora stake in the proposed Rs10 billion NRN Nepal Development Fund, while IPPAN presses the energy ministry to license private power traders before surplus hydroelectricity is wasted.

  The Kathmandu Post — NTIS export underperformance · The Kathmandu Post — NRN foreign-currency IPO rules · The Himalayan Times — Private sector seeks power trading · Nepal News — NAIMA Mobility Expo closes · The Kathmandu Post — Labour market mismatch

• Muscat, Oman Local 12:01 · Sun · working now Muscat's Sunday session is defined by being the coastal broker in the Hormuz crisis. Foreign Ministry spokesman Esmaeil Baghaei confirmed agreement with Tehran on a temporary shipping route map after three months of technical talks, establishing new navigation coordinates to replace defunct northern and southern lanes, while Foreign Minister Abbas Araghchi stresses that full reopening remains contingent on U.S. adherence to the June memorandum. Oman's foreign ministry warned against attacks on shipping that could hamper progress even as the UAE accused Iran of targeting an ADNOC-affiliated tanker Saturday. For a Gulf trade hub whose economy lives on maritime connectivity, the morning means progress on cartography without yet progress on cargo volume.

  Anadolu — Iran-Oman shipping route agreement · BBC — Oman positive talks, Iran warns on reopening · Times Now — Deal yet to be finalised · Moneycontrol — Araghchi separates route talks from reopening · Al Jazeera — UAE tanker attack accusation

• Kuwait City, Kuwait Local 11:01 · Sun · working now Kuwait City opens into the starkest expression of Hormuz dependence in the Gulf: unlike Saudi Arabia or the UAE, Kuwait has no pipeline bypass, forcing virtually every barrel through the contested strait. Preliminary data show GDP contracted 4.6 percent year-on-year in the first quarter, with oil-sector GDP collapsing 12.5 percent during a period that captured only one month of the current war. Fitch affirmed the sovereign at AA- with a stable outlook, citing sovereign net foreign assets at 668 percent of GDP, while Kuwait Petroleum Company signed a $16 billion pipeline leasing deal with international investors to stabilize long-term production infrastructure. The rating cushion buys time, but analysts warn there is no substitute for unfettered Hormuz navigation if exports remain throttled.

  Kuwait Times — Q1 2026 GDP decline · France 24 — No substitute for Hormuz access · Zawya — Fitch affirms AA- outlook · Al-Monitor — Kuwait hostage to Hormuz · The National — KPC pipeline leasing deal

• Riyadh, Saudi Arabia Local 11:01 · Sun · working now Riyadh's Sunday calendar mixes housing policy, aviation expansion and offshore drilling normalization. The Royal Commission for Riyadh City opened the second year of the Real Estate Balance Program at 3 p.m., offering up to 40,000 developed residential plots annually for five years with prices capped at SR1,500 per square meter and applications running through September 15. Riyadh Air launched daily nonstop Islamabad service Friday evening and will add Lahore three times weekly starting August 18, deepening Pakistan connectivity for business and religious travel. Arabian Drilling said it will resume all temporarily suspended offshore rigs by end-September after March war precautions, following ADES Holding's resumption notices — a sign Gulf energy services are betting the offshore market is stabilizing even as Hormuz tanker counts remain sparse.

  Ajel — Real Estate Balance applications open · Saudi Gazette — 40,000 plots program · Aviation A2Z — Riyadh Air Islamabad launch · Arab News — Arabian Drilling rig resumption · Argaam — Al Rajhi MSCI ETF market making

• Manama, Bahrain Local 11:01 · Sun · working now Manama's diplomatic morning is anchored in Amman, where Foreign Minister Abdullatif bin Rashid Al-Zayani held a press conference with Jordanian counterpart Ayman Safadi to map a bilateral roadmap covering investment, education and diplomatic coordination. Both ministers emphasized joint Arab action on regional crises and celebrated the depth of ties ahead of fiftieth-anniversary commemorations of Bahrain-Jordan relations. For a long-established Gulf banking hub that has absorbed Iranian drone attacks on Isa Air Base during the current war, the visit frames small-state diplomacy as continuity: institutional cooperation proceeds even when maritime choke points and airspace incursions dominate the security backdrop.

  BNA — Bahrain-Jordan bilateral ties highlighted · Anadolu — Jordan-Bahrain ministers discuss Hormuz · Al-Monitor — Jordan intercepts Iranian drones · Voice of Emirates — Joint coordination on regional challenges · BNA — Roadmap for cooperation fields

• Doha, Qatar Local 11:01 · Sun · working now Doha's Sunday ledger mixes border enforcement and financial inclusion. General Authority of Customs officers at Abu Samra thwarted an attempt to smuggle 24.39 grams of hashish and shabu plus 30 Lyrica pills concealed in luggage and on a traveller's body — routine interdiction copy that nonetheless underscores scrutiny on the Saudi land frontier. More structurally, Qatar Post partnered with India Post and the Universal Postal Union to launch near real-time remittance transfers from Doha to India during Independence Day celebrations, targeting the Indian expatriate base with institutional trust and competitive value. A separate Ministry of Commerce push has cut home-business registration fees to QR300 and expanded permitted activities from 15 to 63, rewriting the economics of productive-family enterprises.

  Gulf Times — Drug smuggling bid foiled · Marhaba — Abu Samra seizure details · Gulf Times — Qatar-India remittance link · Gulf Times — QR300 home business licence · Al Jazeera English — Hormuz live coverage

• Amman, Jordan Local 11:01 · Sun · working now Amman hosts the region's diplomatic choreography Sunday as Foreign Minister Ayman Safadi welcomes Bahraini counterpart Abdullatif Al-Zayani for a press conference mapping cooperation in investment, education and crisis coordination. The visit follows weeks in which Jordan intercepted Iranian missiles and drones crossing its airspace while hosting U.S. assets at Muwaffaq Salti Air Base — a reminder that Levantine stability is negotiated under live fire. Safadi and Al-Zayani agreed to advance bilateral ties and strengthen joint Arab responses to Middle East challenges, including freedom of navigation in the Strait of Hormuz. For a services-and-banking hub whose economy lives on regional calm, the morning is about institutional alignment while kinetic risk persists on the borders.

  BNA — Safadi hosts Al-Zayani press conference · Anadolu — Ministers discuss Hormuz navigation · Al-Monitor — Jordan intercepts Iranian projectiles · The Jordan Times — Joint Arab action emphasis · Voice of Emirates — Bilateral coordination

• Cairo, Egypt Local 11:01 · Sun · working now Cairo's Sunday is dominated by Gaza diplomacy as Hamas political bureau chief Khalil al-Hayya arrives for his first Egypt visit since assuming leadership, heading a senior delegation that includes Shura Council chief Mohammed Darwish, Khaled Meshaal and Zaher Jabarin to meet intelligence chief Hassan Rashad. The talks aim to consolidate the Gaza ceasefire and shore up phase-two implementation even as Israeli Prime Minister Benjamin Netanyahu rejected the Board of Peace disarmament roadmap that would pair Israeli withdrawal with Hamas weapons handover. The visit precedes Jared Kushner's planned Middle East shuttle next week with Board of Peace envoy Nickolay Mladenov, setting Cairo as the mediation hinge between Palestinian commitments, Egyptian enforcement and Washington's shrinking patience for stalled phase two.

  Al Jazeera — al-Hayya heads to Cairo ahead of Kushner · Anadolu — Hamas delegation ceasefire talks · TRT World — Phase two disputes · Jerusalem Post — Kushner regional visit · Ahram Online — Netanyahu rejection backdrop

• Tel Aviv, Israel Local 11:01 · Sun · working now Tel Aviv wakes to a dual Lebanon spiral after Israel's deadliest southern Lebanon raids since the June ceasefire framework killed 11 people including three children in Ansar and Deir al-Zahrani early Saturday. The IDF says it eliminated Radwan Force battalion commander Ali Samir Al-Haj Hassan and senior Badr Unit figure Abu Hassan Alaa after a Hezbollah explosive drone wounded three commando brigade soldiers on the Ali al-Taher ridge Friday night; Defense Minister Israel Katz threatened further strikes Sunday as overnight sorties hit the ridge again and Rome talks loom early next month. Hezbollah warned of an "appropriate response" while Lebanese Prime Minister Nawaf Salam said the children "are not military infrastructure" — a political counterweight as the security cabinet navigates U.S. constraints on escalation room in Lebanon.

  ABC — Deadliest raid since June · PBS — 11 killed in southern Lebanon · Al Jazeera — Katz threatens further strikes · Israel National News — Overnight ridge response · CNA — Hezbollah response warning