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The International Atomic Energy Agency (IAEA) has reported that Iran's Khondab heavy water reactor is no longer operational. This development comes as part of ongoing scrutiny of Iran's nuclear program.The Khondab reactor, located in Iran, was a significant component of the country's nuclear infrastructure. The IAEA's confirmation of its non-operational status provides insight into the current state of Iran's nuclear capabilities.The IAEA's monitoring of Iran's nuclear program is crucial in ensuring compliance with international agreements and understanding the country's nuclear activities.

The UK's Financial Conduct Authority (FCA) has confirmed that millions of victims of the country's car finance scandal will receive payouts this year. The regulator has unveiled a long-awaited industry-wide scheme to compensate people who were treated unfairly when taking out motor finance to buy a new or second-hand vehicle. The scheme, which will put £7.5bn back into people's pockets, is expected to result in a likely total bill of £9.1bn for lenders. The FCA had previously estimated that 14.2m loan agreements would be considered unfair and therefore due compensation, but this number has been cut to 12.1m. The average payout is expected to be around £830 per agreement, up from the previously estimated £695. The scheme will largely focus on people whose deal included a 'discretionary commission arrangement' (DCA), a type of car finance banned in 2021. Millions of claims will be paid out later this year, with the vast majority settled by the end of 2027. The FCA has advised people to 'complain now to get compensation sooner' and has provided a template letter on its website for those who want to make a claim. Lenders will have three months from the end of the implementation period to let people know whether they are owed compensation and, if so, how much. The payout timings vary, but for a post-April 2014 agreement, a lender must confirm if someone is owed money, and how much, by 30 September this year. The individual has a month to accept or challenge the offer, by 31 October. Then compensation is paid within one month, by November.

Spain has taken a firm stance against the US-Israel war on Iran by closing its airspace to US military aircraft involved in attacks. This decision, confirmed by Defence Minister Margarita Robles, underscores Spain's position as a leading critic of the conflict in Europe. The move forces military planes, including those based in the UK and other European countries, to bypass Spain when heading to targets in the Middle East, except in emergency situations. This development comes after Spain denied the US permission to use its military bases for operations related to the war. “We don’t authorise either the use of military bases or the use of airspace for actions related to the war in Iran,” Robles stated, emphasising Spain's clear stance. She described the war as “profoundly illegal and profoundly unjust.” Spanish Prime Minister Pedro Sánchez has been vocal in his opposition to the war, calling for the US, Israel, and Iran to cease hostilities. His statements have previously drawn criticism from former US President Donald Trump, who threatened to cut off trade with Spain. The decision to restrict airspace access could potentially worsen Spain's already strained relations with the White House. However, Economy Minister Carlos Cuerpo reiterated that Spain's stance is part of its broader refusal to participate in or contribute to a war initiated unilaterally and against international law. While US military aircraft can still use Spanish bases for logistics support under a bilateral agreement, 15 American KC-135 refuelling planes were recently diverted from bases in Spain to those in France and Germany.

The recent meeting of foreign ministers from Egypt, Pakistan, Saudi Arabia, and Turkey in Islamabad signals the emergence of a new four-nation bloc in the Middle East. This bloc aims to promote a ceasefire in the region and curb the dominance of Iran and Israel.The group's primary goal is to persuade all sides to stop the escalation and agree to a ceasefire. According to Yasmine Farouk, a Gulf specialist at the International Crisis Group, the group will meet more frequently to achieve this goal.The meeting in Islamabad made some progress, including an Iranian agreement to allow vessels operating under the Pakistani flag to pass through the Strait of Hormuz. The group will also act as a primary interlocutor with Iran, keeping indirect negotiating channels open between Tehran and the US.Turkey is seen as the most committed member of the group, with Hakan Fidan, Turkey's foreign minister, and İbrahim Kalın, the director of Turkish intelligence, urging Gulf states to consider the wider context of the war and the risks of encouraging an outcome in which Israel emerges stronger.The bloc's emergence is significant, as it brings together countries with different interests and perspectives on the conflict in the Middle East. The group's success will depend on its ability to navigate these complex relationships and promote a peaceful resolution to the conflict.

The Financial Conduct Authority (FCA) will unveil the final terms of its compensation scheme for the UK car finance scandal on Monday, providing clarity for millions of drivers who may be eligible for payouts. The scheme, which is expected to cost around £11bn, will offer redress to drivers who were overcharged for loans as a result of controversial commission payments between lenders and car dealers.The FCA's proposal, outlined over 360 pages, suggests that 14m motor finance agreements will be affected, with individual compensation payouts averaging around £700. However, some groups have argued that this amount is too low, and that consumers could be due £1,500 or more.The car loan providers most impacted by the scheme include Lloyds Banking Group, Santander, Barclays, and Close Brothers. These companies have been lobbying against the FCA's proposals, arguing that they are too generous and could disrupt the car finance market.The FCA's scheme aims to draw a line under the car finance scandal, but there are concerns that it could be circumvented or delayed by aggrieved parties. Some lenders and claims law firms have signaled that they may consider legal action against the FCA's final proposals.

Eli Lilly, the US pharmaceutical group behind the Mounjaro weight-loss drug, is seeking to resume its investments in the UK after pausing them last year. The company is in talks with UK ministers to regularly increase NHS drug prices and end a rebate scheme. Patrik Jonsson, president of Eli Lilly's international business, expressed optimism about reaching an agreement this summer.The talks will also explore 'innovative' pricing plans, such as linking payments for anti-obesity drugs to whether the treatment helps patients return to work. This comes as the US pharmaceutical industry increases pressure on the UK, with Keir Starmer agreeing to the first increase in NHS cost-effectiveness thresholds in 27 years. The threshold was raised from £20,000 to £30,000 a year for every year of life gained to £25,000 to £35,000.Eli Lilly was one of several pharmaceutical companies that ditched or paused almost £25bn in planned investments in the UK last year. The company paused its plans to invest in a laboratory site in central London. Jonsson stated that the resumption of Eli Lilly's investment would depend on the outcome of its talks with the government.He emphasized that prices for medicines in the UK had been 'far too low for far too long' and that the threshold couldn't remain static for another three decades. The UK agreed to pay 25% more for new medicines by 2035 as part of a US-UK drug pricing deal, which could eventually reach £9bn a year.Large pharmaceutical companies have protested about a 'rebate' scheme, under which they are required to pay back a chunk of revenue from sales of branded medicines. This scheme is expected to fall in 2026, although Jonsson believes payments 'should actually get down to zero' over time.

A premature ceasefire agreement could potentially set the stage for future conflict escalation, experts warn. The rushed nature of such agreements often overlooks underlying issues, leading to unsustainable peace and increasing the likelihood of renewed violence.The concern is that without addressing the root causes of the conflict, a ceasefire might merely delay the inevitable, rather than providing a lasting resolution. This could result in another round of conflict in the future, potentially with greater intensity.

Top diplomats from Saudi Arabia, Egypt, and Turkey have gathered in Islamabad for two-day talks with their Pakistani counterpart on the escalating conflict between the US and Israel against Iran. The goal is to seek a de-escalation of the situation.The talks, led by Pakistani Foreign Minister Ishaq Dar, follow Iran's agreement to allow 20 more ships under the Pakistani flag to pass through the Strait of Hormuz, with two ships permitted daily. This development was announced by Dar on Saturday.Pakistan's Prime Minister Shehbaz Sharif had a detailed telephone conversation with Iranian President Masoud Pezeshkian on Saturday, lasting over an hour, as part of preparations for the Islamabad talks. Sharif emphasized Pakistan's commitment to bringing an end to the conflict.Al Jazeera's Kamal Kyder, reporting from Islamabad, noted that Pakistan has been acting as a key interlocutor between the US and Iran, facilitating communication between the two sides as part of mediation efforts. He described the gathering in Islamabad as the beginning of a critical process that hinges on diplomacy and dialogue.The talks in Islamabad are seen as a crucial step towards finding a peaceful resolution to the conflict. Iran's President Pezeshkian has thanked Pakistan for its mediation efforts to stop the aggression against Iran. With Islamabad's longstanding links with Tehran and close contacts in the Gulf, Pakistan is well-positioned to play a key role in these diplomatic efforts.Meanwhile, the risk of an expanded Iran war increased on Saturday as Yemen's Iran-aligned Houthi rebels launched their first attacks on Israel since the start of the conflict. The developments underscore the complexity and volatility of the situation in the Middle East.

Iran has agreed to permit 20 Pakistani-flagged vessels to transit the Strait of Hormuz, a crucial waterway for global oil supplies. This development is seen as a significant step towards alleviating the severe energy crisis affecting the region.Pakistan's Foreign Minister, Ishaq Dar, announced the agreement, stating that two ships will cross daily under the arrangement. He described Iran's decision as 'a harbinger of peace' and a 'welcome and constructive gesture'.The Strait of Hormuz has been effectively shut since the United States and Israel launched coordinated strikes on Iran on February 28, triggering a war that has resulted in significant loss of life and disruptions to global markets. The conflict has killed about 2,000 Iranians and over 1,100 people in Lebanon.The strait is a critical passage for oil supplies, with an estimated 2,000 vessels stranded on either side. This blockade has caused oil prices to surge past $100 a barrel, up by roughly 40 percent. The Islamic Revolutionary Guard Corps (IRGC) has turned the strait into a checkpoint, requiring ships to submit cargo details and receive clearance codes.At least two vessels have reportedly paid $2 million per crossing, settled in Chinese yuan, to secure passage. Iran's parliament is now moving to legalize this arrangement as a potential source of revenue.This agreement is the result of intense Pakistani diplomacy, with Army Chief Field Marshal Asim Munir speaking to US President Donald Trump and Foreign Minister Dar holding calls with his Iranian and Turkish counterparts.