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The US government shutdown affecting the Department of Homeland Security (DHS) will persist, despite the Senate passing a funding bill. The partial shutdown, which began on February 14, will continue until at least Monday, when the House of Representatives reconvenes.The stalemate centers on whether DHS should reform its immigration procedures, following criticism of President Donald Trump’s mass deportation push. Democrats have refused to pass funding to Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) without reforms to their practices.The shutdown has had several knock-on effects, including airport delays and unpaid workers. DHS, which oversees the Transportation Security Administration (TSA), has seen its airport security agents go without pay for six weeks. With agents calling out sick or leaving their jobs, US airports have reported long lines and widespread travel delays.President Trump has endorsed a plan to fully fund DHS, which involves a two-track approach: passing a bill to fund the department, except for ICE and CBP, and then funding ICE and CBP through separate spending legislation. Trump has also vowed to pay 'all' DHS employees, although details on how this will be achieved are unclear.The shutdown has been politically unpopular, with unions and transportation safety groups criticizing the strain it has placed on workers and airport security. Democrats have sought to leverage the funding bill to press for changes to Trump’s immigration policy, while Republicans have accused them of putting Americans' livelihoods in jeopardy for political gains.

One year ago, US President Donald Trump introduced a 10% global tariff, sparking a trade war with far-reaching consequences. The immediate impact was severe, with the stock market experiencing its worst drop since the pandemic. In response, countries scrambled to negotiate deals with Washington or retaliate with their own tariffs. Recently, the Supreme Court ruled that most of Trump's tariffs are illegal, citing the president's lack of authority to impose broad, open-ended tariffs under a national emergency. However, this ruling did not end the trade war. Within hours, Trump invoked a different statute to launch a temporary tariff, set to expire in July. The effects of the tariffs have already reshaped the US economy. The average effective US tariff rate surged from 2.6% to over 13%, the highest level since World War II. This significant increase has led to higher costs for American consumers. According to the Tax Foundation, US households paid $1,000 more in 2025 for the same goods. Tarrifs work by imposing a tax on foreign goods and services, making them more expensive and encouraging local purchases. Despite Trump's promise that tariffs would reduce the trade deficit and make the US richer, the reality is that the average US consumer is worse off. The Penn Wharton Budget Model reports that the US collected over $287.1 billion in customs duties in 2025 and $64.4 billion in 2026. Economists at the Federal Reserve Bank of New York found that nearly 90% of the economic burden from tariffs has fallen on US businesses and consumers, with foreign exporters absorbing only a small percentage of the cost. Lower-income households have been disproportionately affected, as they spend a higher proportion of their earnings on essential goods like food, clothing, and transportation. Following the Supreme Court's ruling, the government may be required to refund up to $175 billion to businesses that paid the tariffs. With Trump's tariffs being replaced by a flat 10% tariff, the Tax Foundation projects that the average cost to US households will fall to about $600. While an improvement, it remains a significant cost for consumers.

Former Iranian foreign minister Kamal Kharazi has been seriously wounded in an apparent assassination attempt that killed his wife, as US-Israeli strikes continue to pound Iran for a fifth week.Iranian media on Thursday reported that Kharazi's home in Tehran was targeted the previous day in an air strike. The official was hospitalised with serious injuries, according to newspapers Shargh, Etemad and Ham Mihan.“We have seen what looks like an assassination attempt against the former foreign minister, Kamal Kharazi … We don’t know why he’s been targeted. He has been gravely wounded, and his wife was killed,” said Al Jazeera’s Mohamed Vall, reporting from Tehran.Air strikes were reported on Thursday across Iran, including in Tehran, Isfahan and Shiraz. Four people were reported killed in Larestan, in southern Iran.Meanwhile, the spokesperson of the armed forces’ unified command said Tehran will press on with the Middle East war until the US and Israel face “permanent regret and surrender”, the semiofficial Tasnim news agency reported.Ebrahim Zolfaghari, spokesperson of the Khatam al-Anbiya central headquarters, said US and Israeli assessments of Iran’s military capabilities were “incomplete” and that Tehran would step up its military actions, with “more crushing, broader and more destructive” attacks in store for its adversaries.The threat followed comments by US President Donald Trump that Washington would hit Iran “extremely hard” within weeks, although Iran was “essentially decimated” and the US was on track to achieve its military objectives.More than 1,340 people have been killed in Iran since the US and Israel launched joint air strikes on February 28. At least 24 people have been killed in Israel, as well as 13 US soldiers in the region.

Oil prices experienced a significant surge, rising more than $5, after President Donald Trump stated that the United States would continue its military operations against Iran. This development has heightened investor concerns about potential sustained disruptions to global oil supplies.Brent crude futures saw a notable increase, rising $6.33, or 6.3%, to $107.49 per barrel early on Thursday. Similarly, US West Texas Intermediate crude futures were up $5.28, or 5.3%, to $105.40 per barrel. These gains followed an earlier decline of more than $1 in both benchmarks prior to Trump's televised address to the nation.The recent escalation in tensions between the US and Iran has led to the closure of the Strait of Hormuz by Iran, in retaliation for the US-Israeli attacks. This strategic move has disrupted approximately one-fifth of global oil and liquefied natural gas (LNG) supplies, precipitating the world's most significant energy crisis in decades.Trump emphasized that the US military is nearing its objectives in the conflict, which he expects to conclude within two to three weeks. His remarks have contributed to increased uncertainty in financial markets.Asian stocks were severely impacted following Trump's speech. Most Southeast Asian countries, which heavily rely on oil imports, are particularly vulnerable to the sharp rise in oil prices triggered by the Middle East conflict. The MSCI gauge of EM Asia equities experienced a 2.3% decline, while regional currencies weakened by 0.2%.Notably, South Korea's main stock market, the Korea Composite Stock Price Index (KOSPI), plummeted by 4.2% after initially gaining nearly 2%. South Korean President Lee Jae Myung urged parliament to promptly pass a 26.2 trillion won ($17.3bn) supplementary budget to bolster the economy during what he described as the worst energy security threat caused by the Middle East crisis.Other Asian markets also saw significant declines, with Singapore's main stock market, the Singapore Exchange (SGX), slipping 0.8%, and Malaysia's benchmark index falling 1%. Markets in Indonesia and Taiwan declined by about 1% and 1.4%, respectively. Stocks in China and Hong Kong also fell, with the benchmark Shanghai Composite index dropping 0.53% and China's blue-chip CSI300 Index losing 0.74%.

Iran launched a new barrage of missiles at Israel following President Donald Trump’s televised claim that Washington had "destroyed the Iranian military" and was on the brink of completing its war objectives. Trump’s address, delivered hours after he asserted that Tehran had requested a ceasefire—a claim Tehran promptly denied—also featured a pledge to "finish the job" and a statement that the core strategic goals of the United States were "nearing completion." Iranian President Masoud Pezeshkian emphasized that Iran holds no hostility toward the peoples of the United States, Europe or neighboring states, while urging the American public to question the motives behind the continued conflict. In Tehran, the war has intensified: US‑Israeli air campaigns continue to cause casualties and infrastructure damage, and Iranian forces persist with missile and drone counter‑attacks. Foreign Minister Abbas Araghchi warned that, despite receiving messages from Washington, "trust remains at zero" for any negotiation. Senior political figure Kamal Kharazi, a former foreign minister, was seriously wounded when a strike hit his home in Tehran, killing his wife. Kharazi had been involved in back‑channel talks through Pakistan aimed at reviving negotiations. In the Gulf, the United Arab Emirates reported intercepting incoming Iranian missiles and drones, and a tanker off Doha sustained damage from a projectile, though no casualties were reported. President Trump publicly thanked Gulf allies, pledging that the United States would not allow them to be harmed. Within the United States, analysts such as Trita Parsi of the Quincy Institute noted that Trump’s speech offered little new information, essentially summarising recent tweets and suggesting a lack of a clear operational plan. Israel’s military confirmed that its air‑defence systems were actively intercepting Iranian missiles, but the attack wounded 14 civilians, including an 11‑year‑old girl, near Tel Aviv. Israeli officials said the timeline outlined by Trump aligns with Prime Minister Benjamin Netanyahu’s assessment of the campaign. Regional spill‑over continued: an Israeli strike on Beirut killed a senior Hezbollah commander and at least seven civilians, while an air strike on Iraq’s Anbar province killed seven fighters and injured 13 at a military healthcare clinic. On the economic front, the World Bank expressed "extreme concern" about the conflict’s impact on inflation, employment and food security, and is consulting member states on emergency measures. Despite the turmoil, global equity markets rallied and oil prices fell after Trump’s optimistic remarks, indicating short‑term investor relief.

A team of FBI agents has arrived in Cuba to launch an independent investigation into a deadly shootout between local border patrol officers and a Florida-tagged speedboat. The incident occurred on February 25, when 10 Cuban nationals attempted to enter Cuba by speedboat, armed with nearly 13,000 rounds of ammunition, 13 rifles, and 11 pistols.The shootout resulted in the deaths of five people, with the others being wounded and taken into custody. The Cuban government has stated that the assailants were Cuban exiles who came from the US with the intent to sow chaos and attack military units.The US embassy in Havana announced the FBI agents' arrival, stating that the trip was part of a "thorough and independent investigation" into the incident. An embassy official said the US would verify Havana's version of events, adding that the US would make decisions based solely on US interest, US law, and the protection of US citizens.Tensions have been high between the two nations since January, when US President Donald Trump imposed a virtual oil blockade on the island. The incident has sparked concerns about the escalating tensions between the US and Cuba, with the FBI's investigation expected to shed more light on the circumstances surrounding the deadly shootout.

Thousands of Iranians assembled in Tehran for the funeral of senior IRGC naval commander Alireza Tangsiri, who was killed in an Israeli strike, vowing steadfast resistance even as the United States issued stark warnings.The ceremony took place on the 47th anniversary of the Islamic Republic, a milestone that marks the 1979 revolution that ended the centuries‑old monarchy.This year’s commemoration carries added weight as the capital endures relentless U.S.-Israeli bombardments that began on February 28."This war has lasted a month. No matter how long it takes, we will keep fighting," declared Moussa Nowruzi, a 57‑year‑old pensioner, adding, "We will resist until the end."Among the mourners, a young boy brandished a sign reading "Revenge", while massive Iranian flags fluttered as crowds filled Enghelab Square, the heart of the city named after the revolution.Chants of "God is greatest, Khamenei is the supreme leader" echoed through the square, and a man was seen sobbing in the arms of a woman dressed in black.Participants also honored relatives lost in the conflict, their faces displayed on placards, as Tangsiri’s coffin was carried slowly through the gathering.Tangsiri, one of the IRGC’s longest‑serving senior officers, was credited with orchestrating the closure of the Strait of Hormuz to vessels aligned with the United States and Israel during the ongoing war.Later that day, U.S. President Donald Trump addressed the nation on television, reiterating that the war was inevitable and that America intended to "finish the job" in Iran.Trump previously claimed that Iran’s president had sought a truce—a statement Tehran denied—and warned that bombardments would continue until the Hormuz waterway was "open, free, and clear."Funeral attendees dismissed the president’s threats. "We have heard Trump say things that even the American public finds confusing," said Homa Vosoogh, 36, adding, "His statements do not affect us."Government employee Mohammad Saleh Momeni echoed the sentiment, asserting that Trump "cannot translate his words into action" and reaffirming their loyalty to Iran’s leadership.While the United States and Israel initially framed their campaign as a push for regime change, Trump’s stance has since wavered.According to the report, air strikes have claimed the life of Supreme Leader Ayatollah Ali Khamenei, who led Iran for 36 years, yet the governing structure remains functional, retaining its missile and drone capabilities.Portraits of the late leader and his son Mojtaba Khamenei, who has yet to appear publicly, dominate public spaces throughout Tehran."They believe killing our commanders will weaken us, but it will not," Momeni asserted, describing the adversaries’ misconceptions.Despite a wave of anti‑government protests that peaked in January, a segment of the population continues to harbor hopes for political reform.

Iran launched a fresh wave of missiles toward Israel in what appears to be a direct response to U.S. President Donald Trump’s recent televised address. In that speech, Trump asserted that Washington had effectively destroyed the Iranian military and was on the brink of fulfilling its war goals in the region. The presidential remarks came just hours after Trump claimed that Iran had asked for a ceasefire. Tehran promptly denied the request, emphasizing that it had not sought any pause in hostilities. This escalation underscores the volatile dynamics of the Middle East, where diplomatic rhetoric from Washington can quickly translate into kinetic actions on the ground. The missile barrage not only heightens the risk of broader conflict between Iran and Israel but also places the United States in a precarious position, having publicly declared a near‑victory over Tehran while its ally faces direct attacks. Analysts note that Trump's statements may be aimed at bolstering domestic support by portraying a decisive end to a protracted regional struggle. However, the Iranian denial of a ceasefire request suggests that diplomatic channels remain strained, and the likelihood of further military exchanges is increasing. Regional observers warn that continued missile exchanges could destabilize already fragile peace efforts, potentially drawing in additional actors and complicating any forthcoming negotiations.

President Donald Trump has announced a new policy threatening to impose 100% tariffs on US pharmaceutical companies that do not agree to lower their drug prices. This move is part of his effort to address the high cost of prescription medications in the US.The tariffs will specifically target branded drugs and their active ingredients, while generic drugs, which account for over 90% of medicines sold in the US, will be exempt for at least one year. Additionally, certain specialty drugs, such as orphan, veterinary, and other specialty drugs, will be exempt if they are from countries with which the US has a trade deal or meet urgent public health needs.Drugmakers that enter into pricing agreements with the White House and onshore drug production will be exempt from the tariffs. Companies planning to increase their domestic manufacturing will face a 20% tariff that will escalate to 100% over four years.The policy has been met with criticism from industry groups, such as the Midsized Biotech Alliance of America (MBAA), which argues that it creates an "unfair two-tiered system" that benefits large companies with diversified portfolios.Trump has been under pressure to lower drug prices, with US patients often paying nearly triple what patients pay in other developed nations. The announcement comes as the White House faces pressure from consumers to address rising costs amid other tariff-related price increases and high gas prices triggered by geopolitical tensions.