Digital Phablet

Author: Lucas Huang

  • Dallas Kashmir Conference Calls for UN-Backed Settlement

    Dallas Kashmir Conference Calls for UN-Backed Settlement

    A conference commemorating the anniversary of India’s revocation of Article 370 and Article 35A wrapped up in Dallas, Texas, with a joint resolution urging a peaceful, enduring resolution of the Kashmir conflict in accordance with United Nations resolutions.

    The gathering was organized by Friends of Kashmir and drew participants from the Pakistani and Kashmiri communities, along with representatives from Sikhs for Justice and local leaders. Pakistan’s Consul General in Houston, Aftab Chaudhry, was the keynote speaker, and Ghazala Habib, chairperson of Friends of Kashmir, led the event.

    Speakers expressed unwavering support for the residents of Indian Illegally Occupied Jammu and Kashmir (IIOJK), raising concerns about the ongoing crisis following India’s 2019 decision to revoke the region’s special constitutional protections.

    During her remarks, Ghazala Habib emphasized the need for increased global attention to Kashmiri issues. She highlighted the shared struggles between Kashmiri and Sikh communities and reaffirmed their dedication to advocating for justice and human rights.

    Aftab Chaudhry reiterated Pakistan’s ongoing diplomatic, political, and moral backing for Kashmiris. He criticized India’s actions, stating that the abolition of Article 370 and 35A has further complicated the volatile situation in Kashmir.

    Other speakers, including Aftab Siddiqui, Syed Fayaz Hasan, Ghulam Jahangra, and Dr. Fareeha Qazi, called on the international community to take a more active role in facilitating a peaceful solution to the dispute.

    Gurvinder Singh, representing the Sikh community, emphasized that engaging younger generations is crucial for advancing justice and human rights, stressing that continuous involvement is key for future progress.

    The conference concluded with a resolution urging the global community to support a peaceful resolution of Kashmir in line with UN resolutions and to protect the fundamental rights of the Kashmiri people.

  • Most Chinese Provinces Surpass Half-Year Tax Revenue Forecast

    Most Chinese Provinces Surpass Half-Year Tax Revenue Forecast

    Most of the 30 provincial-level regions in China that have shared their fiscal data for the first half of this year reported higher-than-expected general public budget revenues, which include both taxes and non-tax income. However, several financial officials caution that conflicts related to local government revenue and expenditure remain substantial.

    Only two provinces achieved double-digit growth in their public budget revenue: Tibet Autonomous Region saw a 37% increase, and Xinjiang Uygur Autonomous Region experienced a 10% rise. Twenty-two provinces reported growth, led by Gansu, Shaanxi, and Beijing, each with increases of 6% or more. Conversely, Jiangxi, Liaoning, and Guangxi Zhuang Autonomous Region saw declines.

    In 24 provinces, the growth in public budget expenditures was lower than that of revenues, and 12 of these regions even reported a decrease. Guangdong, China’s largest provincial economy, has not yet released its mid-year financial report.

    Overall, revenue from local government funds fell 26% compared to the same period last year, and revenue from land sale rights dropped 32%, according to Luo Zhiheng, chief economist at Yuekai Securities. He emphasized that amid mandatory spending obligations and debt repayment requirements, local governments are facing a relatively tight fiscal situation.

    Although tax revenue growth in the first half has been acceptable, the sharp decline in government fund income—mainly from land sales—has increased pressure on local fiscal management, said a director of a local finance bureau in an eastern region. Meanwhile, a finance official from a western region noted that while revenue and expenditure figures are generally positive, the heavy debt burden is creating significant repayment challenges. A counterpart from a central region also highlighted that local financial conditions remain quite strained.

    To address these difficulties, Luo suggested that local governments should focus on revitalizing existing assets in the short term and, in the longer term, reform urban investment companies and reshape their tax bases. Identifying and promoting sectors that leverage local strengths, creating attractive business environments, and avoiding industries attracted solely by subsidies and tax incentives are crucial.

    Luo also emphasized the importance of increasing transfer payments from the central government to help local authorities manage ongoing adjustments in the real estate market and substantial debt repayment pressures. Looking ahead, he advocates for continued fiscal and tax reforms: reducing the administrative powers and expenditure responsibilities of local governments gradually and steering clear of providing them with large, inefficient fiscal subsidies.

  • Seven Dead, 15 Wounded in Thailand School Attack: Police

    Seven Dead, 15 Wounded in Thailand School Attack: Police

    Seven individuals lost their lives in a school shooting in Thailand on Friday, with the gunman among the deceased. A total of 15 people were injured, according to Thai police spokesperson Trairong Phiwphan. The authorities did not clarify whether the four fatalities included the gunman, who police confirmed took his own life. Nonthaburi Provincial Police Commander Lt. Col. Dechrapee Kongdee told Reuters that the suspected shooter had committed suicide. The attack occurred in the Bang Kruai district of Nonthaburi province, just north of Bangkok, and the suspect has been identified as a student.

    An 18-year-old student recounted to Reuters that at first, they thought the sounds were firecrackers or objects hitting surfaces. “I didn’t believe it was gunfire initially,” they said. “There were many shots: bang, bang, bang. Then it went silent, and then it started again.”

    Photos shared by emergency personnel show students evacuating Debsirin Nonthaburi School, located on Bangkok’s outskirts, as ambulances arrive. One image shows someone lying on a stretcher outside an ambulance, while another shows a medic providing assistance.

    In the 2025 school year, enrollment was approximately 3,100 students and 147 teachers, according to local district officials. Previously, in February, a teacher died and a student was wounded when a gunman opened fire at a school in Hat Yai, southern Thailand.

  • Unitree Robotics Plans $843M Shanghai IPO Launch

    Unitree Robotics Plans $843M Shanghai IPO Launch

    Unitree Robotics has announced its IPO pricing on the Shanghai Star Market, aiming to raise approximately CNY6.1 billion (around USD843 million). The company plans to offer up to 40.4 million shares at CNY150.80 (about USD22.35) each, representing 10% of its total equity and valuing the company at roughly CNY61 billion (USD8.4 billion).

    The subscription period begins on August 10, with payments due by August 12. The exact start date of trading has not been disclosed. Full financial disclosures are anticipated to eliminate “concept-driven pricing” in the robotics industry, establishing a more genuine valuation benchmark based on concrete orders and pricing, according to Tian Lihui, a finance professor at Nankai University. This move is expected to help shift the industry from speculative interests to validation through large-scale production.

    Key investors include leading Chinese tech giants such as Meituan, Alibaba, Ant Group, Tencent, ByteDance, DeepSeek, along with private investment firms HongShan and Matrix Partners China. State-owned Shenzhen Venture Capital Group and strategic corporate investors like the investment arms of China National Petroleum, China Southern Power Grid, and China Telecom also hold stakes. Notably, Meituan and its affiliates hold a combined 9.7% ownership, making them the largest external institutional shareholders.

    Wang Xingxing, who serves as chairman, CEO, and chief technology officer, also holds the largest individual stake with 121.4 shares through direct and indirect investments. Based on the IPO price, his net worth could potentially reach around CNY18.3 billion (USD2.5 billion).

    Funds raised from the IPO will be allocated as follows: CNY2 billion for smart robot model R&D, CNY1.1 billion for general robot R&D, CNY445 million (USD61 million) for developing new-generation intelligent robot products, and CNY624 million (USD86 million) for establishing an intelligent robot manufacturing base. A significant portion of the capital will focus on advancing smart model R&D, which aims to shift the industry from hardware manufacturing towards enhancing intelligent capabilities, thereby elevating China’s supply chain to higher value segments.

    The IPO also underscores the significance of validating China’s innovative development trajectory. Through comprehensive self-research, the company has achieved a 95% localization rate for core components and is exploring unique industrialization strategies driven by cost management and real-world application focus, differentiating it from international peers.

    This listing signifies that Chinese embodied intelligence robot manufacturers now have better access to capital markets. Moving forward, key performance indicators such as shipment volumes, cash flow, and production capacity will be critical in assessing the viability of robot hardware firms. Maintaining robust in-house R&D, fostering deep supply chain collaborations, and building strong software ecosystems will be essential for sustained growth and competitiveness.

  • Trump enacts new birthright citizenship orders after Supreme Court setback

    Trump enacts new birthright citizenship orders after Supreme Court setback

    President Donald Trump, alongside White House Deputy Chief of Staff Stephen Miller, delivers remarks during a signing event for executive orders aimed at restricting birthright citizenship and regulating the polysilicon industry, held in the Oval Office at the White House in Washington, D.C., on August 6, 2026. — Reuters

    – Trump signs two executive orders following a defeat at the Supreme Court.
    – The new policy bans birth tourism.
    – These orders impact children of foreign officials working in the U.S. and children of individuals labeled as enemy aliens.

    President Donald Trump issued two executive orders on Thursday, seeking to narrow the scope of birthright citizenship—a move that challenges a constitutional guarantee despite previous rejection by the Supreme Court.

    Reducing birthright citizenship has been a key priority in Trump’s immigration enforcement efforts, especially targeting what he calls “birth tourism,” where expecting foreign nationals come to the U.S. to give birth.

    After facing a setback in the Supreme Court on June 30, Trump called on Congress to legislate changes but proceeded via executive orders, which establish policies but lack the force of law enacted by Congress.

    The Supreme Court previously declared Trump’s earlier executive order unconstitutional, which broadly targeted illegal and temporary immigrants.

    The current orders claim to operate outside that ruling by reinterpreting the narrow historical exceptions to birthright citizenship and expanding disqualifications.

    “At the signing of this order, the practice of birth tourism is officially banned,” White House aide Stephen Miller announced during the signing ceremony.

    A 2020 analysis by the Center for Immigration Studies estimated that between 20,000 and 25,000 women traveled to the U.S. annually for birth tourism in 2016-2017.

    In 2025, the U.S. recorded about 3.6 million births.

    The newly signed executive orders also restrict rights for children born to foreign government employees in the U.S. and offspring of individuals classified as enemy aliens.

    There is speculation that the orders could impact births in U.S. territories if Congress moves forward with legislation to end automatic citizenship there.

    Legal experts see potential challenges ahead, questioning how effective the orders will be given prior Supreme Court decisions, while immigrant advocates describe them as attempts to sidestep judicial rulings. The ACLU predicts they are unlikely to withstand court scrutiny.

    “Just five weeks ago, the Supreme Court reaffirmed that birthright citizenship is a constitutional right, not subject to presidential whim. These executive orders attempt to bypass that ruling,” stated Deborah Fleischaker, a Biden administration official now affiliated with UnidosUS, a Hispanic civil rights organization.

    Zain Lakhani of the Women’s Refugee Commission expressed concern that the orders could infringe on the rights of pregnant women seeking lawful entry, especially during a vulnerable time, urging the government to develop guidelines respecting Supreme Court decisions.

    In the Oval Office, Trump criticized the June 30 Supreme Court ruling as a “very unfortunate decision,” criticizing birth tourism practices and insisting such operations are being used to manipulate immigration laws.

    “That’s not how it’s supposed to work. It’s a disgrace. People are buying their way in, and we won’t allow it,” he said.

    Trump’s initial executive order, signed on his first day in office in 2025, directed agencies not to recognize citizenship for children born in the U.S. if neither parent was a citizen or legal resident, thus excluding children of illegal or temporary immigrants.

    The 14th Amendment has historically been understood to confer citizenship to nearly all children born in U.S. territory, with narrow exceptions such as children of foreign diplomats or military enemies.

    “This was originally done after the Civil War, meant to grant citizenship to children of freed slaves. And now?” Trump questioned.

    While explicit statistics on foreigners coming to the U.S. solely to give birth are unavailable, Chief Justice John Roberts reaffirmed in the Supreme Court decision that the 14th Amendment guarantees citizenship to all born here, extending that promise to every free-born individual.

    “Citizenship means having rights,” Roberts wrote. “And we uphold that promise today.”

    The Citizenship Clause states: “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the state wherein they reside.”

  • Indian Court Sentences Ex-Editor to 10 Years in Rape Case

    Indian Court Sentences Ex-Editor to 10 Years in Rape Case

    Tarun Tejpal, former editor-in-chief of India’s investigative magazine Tehelka, met with the media upon arriving at the airport en route to Goa in New Delhi on November 29, 2013. — Reuters

    A court in India sentenced Tarun Tejpal to 10 years in prison Thursday after convicting him of raping a junior colleague, in a case that garnered national attention. Tejpal, who co-founded the investigative magazine Tehelka, was accused of assaulting the journalist inside an elevator at a luxury hotel in Goa during an event in November 2013.

    In 2021, a trial court in Goa acquitted Tejpal of charges related to rape, sexual harassment, and wrongful restraint. However, the Goa government challenged the decision in the Bombay High Court, which overturned the acquittal and handed down the 10-year prison sentence on Thursday.

    “He has been sentenced to 10 years of rigorous imprisonment and has two weeks to surrender,” said Sunita Sawant, a Goa police investigator who led the probe. The court also ordered Tejpal to pay a fine of approximately $5,250.

    Tejpal, 63, announced he would appeal the conviction in the Supreme Court. “For the past 13 years, I have been targeted as part of a political vendetta,” he told reporters. Initially attributing the incident to a “lapse in judgment,” Tejpal was arrested in 2013 and spent seven months in jail before the Supreme Court granted him bail. Later, he claimed the charges against him were politically motivated, allegedly by the Bharatiya Janata Party-led government in Goa.

    The case surfaced at a time when India’s response to sexual assault cases came under intense scrutiny following the gang rape and murder of a 23-year-old student on a Delhi bus in December 2012. That incident sparked nationwide protests and international outrage, leading the government to implement stricter rape laws.

    The controversy surrounding Tejpal dealt a blow to Tehelka’s reputation, a publication known for its investigative journalism and advocacy for women’s rights and social justice. Although Tehelka continues to operate under new leadership, it has yet to regain the influence it held prior to the 2013 incident.

  • Shakib’s Home Targeted After Joining Hasina Event

    Shakib’s Home Targeted After Joining Hasina Event

    Windows at former Bangladesh cricket captain Shakib Al Hasan’s home were broken, and petrol bombs were thrown after he participated in the first public media event by ousted Prime Minister Sheikh Hasina since her removal from power in 2024. During the incident, flames erupted on the upper floor of the residence, which was empty at the time; no injuries were reported. Authorities confirmed that a group attacked Shakib’s ancestral house in Magura, located about 105 miles southwest of Dhaka. Reuters was unable to reach Shakib for comment regarding the attack.

    The assault occurred shortly after Shakib, a former Parliament member from the Awami League, took part in a virtual event hosted by the Foreign Correspondents’ Club of South Asia in New Delhi. In her audio message, Hasina reiterated her intention to return to Bangladesh in December, despite being sentenced to death there.

    Shakib, elected to parliament as an Awami League candidate in January 2024, has remained outside Bangladesh since the student-led protests that overthrew Hasina’s government. He is under multiple investigations, including charges related to murder, embezzlement, fraud, and money laundering.

    “I will return to my people,” Hasina stated. “I understand they might imprison or even execute me, but I have to go back.”

    This event, marking the second anniversary of her ousting, was Hasina’s first public appearance since she fled Bangladesh in 2024. She also expressed her belief that the ban on the Awami League — the party she led for over 40 years — should be lifted, as it had been barred from political activity following her removal.

    Bangladesh’s foreign ministry condemned Hasina’s media appearance, calling it “an affront to the sovereignty of Bangladesh” and warning that allowing her to speak from India could damage bilateral relations.

    Now residing in New Delhi since August 2024, Bangladesh has requested her extradition from India, which is currently reviewing the request through its legal channels. In November 2025, her war crimes tribunal sentenced her to death in absentia over the crackdown on the 2024 student protests, a charge she dismisses as politically motivated.

  • Iran Near Hormuz Plan with Oman, Reopening Depends on US

    Iran Near Hormuz Plan with Oman, Reopening Depends on US

    Iran and Oman have reached an agreement on a route for ships passing through the Strait of Hormuz and are finalizing details to jointly oversee the vital shipping channel, Tehran reported Wednesday. Despite this development, recent security incidents underscore ongoing dangers for regional shipping lanes.

    The proposed plan would mark progress toward reopening this critical energy artery, but official Iranian sources emphasized that any easing of restrictions still depends on the U.S. ending its naval blockade of Iranian ports.

    Since the U.S. and Israel launched their conflict against Iran on February 28, Tehran has effectively taken control of the waterway, warning against vessels that transgress routes deemed unauthorized.

    U.S. President Donald Trump has repeatedly claimed that Iran is eager to negotiate a deal to reopen Hormuz, yet Iran denies these claims and states it prefers to work directly with neighboring Oman.

    “The coordinates of the route proposed by both sides have been agreed upon, and if third parties do not obstruct the process, the joint statement—including main points of agreement—is nearing final review,” Iran’s Foreign Ministry spokesman Esmaeil Baqaei told IRNA, the country’s official news agency.

    He added that discussions with Oman are progressing, but even if an agreement is finalized, it doesn’t mean the Strait is safe for all ships passing through.

    “U.S. actions—such as the naval blockade and other aggressive military activities—continue to threaten the security of the Strait of Hormuz,” Baqaei explained.

    Highlighting the continued risks, the captain of an oil tanker reported hearing two explosions while navigating the strait nine nautical miles southeast of Kumzar, Oman. The crew and vessel remain unharmed, according to UK Maritime Trade Operations (UKMTO).

    Meanwhile, Yemen’s Houthis claimed they struck two Saudi oil tankers, marking the eighth and ninth attacks since they enacted a blockade of the kingdom last month. Houthi military spokesperson Yahya Saree said missiles hit the tanker Wafa near Yanbu in the Red Sea and the tanker Daisy in the Gulf of Aden. Saudi officials have yet to comment on the attacks.

    Historically, the Strait of Hormuz was responsible for roughly 20% of the world’s oil and liquefied natural gas exports. Tensions and disputes surrounding the waterway have driven prices upward repeatedly, amplifying economic and political pressure on Washington.

    U.S. Vice President JD Vance acknowledged American frustrations about the slow pace of diplomacy with Iran, citing internal political divisions. “It’s going to be complicated and take time,” Vance told Fox News on Wednesday. “Iran is incredibly difficult to negotiate with, and their system is fractured.”

    Iran has pressed for ships to follow a route hugging its coast, especially after the effective blockade was imposed, although many vessels prefer a route near Oman, on the opposite side of the strait, which has sometimes exposed them to fire.

    Iran seeks control over the waterway, including toll charges—a move it did not exercise before the recent conflict. The U.S. would strongly oppose such a development.

    In recent weeks, former President Trump threatened aggressive military action against Iran, hinting at strikes on civilian infrastructure, before seemingly retreating and suggesting negotiations might be close. Iran’s foreign ministry denied that direct talks with the U.S. were underway.

  • Trump’s Helicopter Investigated Over Near Miss with Jet

    Trump’s Helicopter Investigated Over Near Miss with Jet

    Marine One, carrying President Donald Trump, departs Camp David in Maryland with support from a U.S. Marine helicopter following a Cabinet meeting on July 31, 2026. — AFP

    – U.S. authorities are examining a possible close encounter involving Marine One.
    – The New York Times reports this incident happened over Washington on Tuesday.
    – The White House asserts that President Trump was never at risk.

    U.S. officials are investigating whether a military helicopter transporting Donald Trump came dangerously close to a commercial jet above Washington earlier this week. The White House maintains that the president was never in any danger.

    A New York Times article, citing two sources familiar with the matter, indicates Marine One flew within less than a mile of a passenger aircraft above the U.S. capital on Tuesday, amid unclear radio communications with air traffic control.

    The National Transportation Safety Board (NTSB) announced it is investigating a reported incident of separation loss between Marine One and a departing commercial aircraft from Washington National Airport (DCA) that took place on August 4.

    Kush Desai, a White House spokesperson, told AFP, “Marine One flights are flown by some of the top aviators in the world, and the president was never at risk.”

    The FAA has stated that air traffic control was in contact with both the Marine One pilot and the commercial pilot during the incident.

    “The President was never in danger. We are reviewing the event and will take appropriate actions based on what we find,” the FAA added.

    According to the Wall Street Journal, safety protocols necessitate at least 1.5 miles of horizontal separation and 500 feet of vertical distance in such scenarios.

    The incident reportedly occurred around 2:30 p.m. (1830 GMT), coinciding with the launch of an American Airlines Embraer E-170 operated by Envoy Air, a subsidiary.

    The helicopter was en route to Andrews Air Force Base so Trump could board his presidential aircraft for travel to California.

    American Airlines and the U.S. Marine Corps, which operates Marine One, did not immediately respond to requests for comment.

    Since a fatal collision between an incoming commercial airplane and an Army Black Hawk helicopter in January 2025 resulted in 67 fatalities, the FAA has significantly increased safety measures around Washington National Airport.

  • Pezeshkian: Meeting with Iran’s Supreme Leader Still Challenging

    Pezeshkian: Meeting with Iran’s Supreme Leader Still Challenging

    Iranian President Masoud Pezeshkian stated Wednesday that maintaining communication with Supreme Leader Mojtaba Khamenei is currently quite challenging. Khamenei, who sustained injuries during the recent US-Israeli attack that ignited conflict in the Middle East, has not made any public appearances since taking over after his father was killed in the same assault.

    Pezeshkian explained, “Engaging with him at this time is very difficult, but his presence remains a vital source of strength for us to carry on.” Although Khamenei has communicated through written statements, his low profile amidst heightened tensions with the United States has fueled speculation about his relationships with other top officials. Notably, he did not attend his father’s funeral last month.

    He defended the leader, emphasizing that he has been able to hold meaningful meetings with him, describing those interactions as marked by “kindness and very sound logic.” Pezeshkian added that unfortunately, some malicious individuals are attempting to depict Khamenei differently, presenting an inaccurate image of him.

  • Sources: Proposed Hormuz Deal Could Grant Iran Control of Incoming Traffic

    Sources: Proposed Hormuz Deal Could Grant Iran Control of Incoming Traffic

    Vessels can be seen navigating the Strait of Hormuz from Musandam, Oman, on August 3, 2026. — Reuters

    – Gaining control over this strait would be a significant concession to Iran.
    – President Trump claims discussions with Iran are progressing smoothly.
    – Regional sources caution against assuming a deal is close at hand.

    A senior Iranian source and two regional officials informed Reuters on Wednesday that a proposed agreement between Iran and Oman would grant Tehran authority over ships entering the Gulf via the Strait of Hormuz. This marks one of the most substantial concessions made to Iran to date.

    Despite what appears to be a move towards accommodating Iranian demands, the sources dismissed claims by Donald Trump that a deal to reopen the strait was imminent, clarifying that key details remain unsettled.

    “The concession has already been made regarding some level of control over Hormuz,” one regional official stated.

    The other regional source indicated that specifics on how “control” would be defined are still under discussion, with Gulf negotiators pushing for regional oversight of ship inspections and insisting that any fees be voluntary.

    The Iranian senior official mentioned that the draft agreement on the table envisions Iran holding control over ships heading into the Gulf through the strait. A major point of contention is the extent of Iran’s authority over vessels traveling in the opposite direction.

    There has been no immediate response from U.S. officials regarding these revelations about the potential agreement.

    U.S. representatives have repeatedly stated they would never accept any arrangement that allows Iran dominance over the world’s crucial energy trade route.

    However, in recent days, Trump and high-ranking officials in his administration have suggested a deal is near, aiming to end the conflict he initiated in February, which polls indicate most Americans oppose.

    —

    Oil prices increased slightly Wednesday following news that Yemen’s Iran-backed Houthi movement claimed responsibility for firing on a Saudi-flagged tanker in the Red Sea, amid ongoing disruptions to global energy supplies caused by attacks in the region.

    Despite the uptick, global crude prices remain near their lowest levels since early July, having sharply declined over the past two days after Trump announced a halt to upcoming attacks on Iran, citing new negotiations that could bring an end to the conflict.

    While direct negotiations between Tehran and Washington have not resumed, Iran has been in talks with Oman, which controls the opposite side of the strait. Iran rejected an earlier Omani proposal last week, deeming it too limited in its influence.

    —

    Trump stated in an interview with Fox News overnight that negotiations were “progressing well” and that significant talks took place Tuesday.

    He added, “The Strait of Hormuz will be open very soon. If they back out again, they’ll face severe consequences.”

    Over the weekend, Trump explained the decision to halt plans for large-scale strikes on Iran by citing ongoing negotiations, a pattern he’s repeated multiple times during the ongoing conflict.

    The Iranian official downplayed the notion of an imminent agreement, noting that Foreign Minister Abbas Araqchi was currently on holiday.

    “Talks are ongoing, but it’s premature to say a deal with Oman is finalized,” they said.

    Another Iranian source warned that “the devil is in the details,” noting that “a single tweet from Trump could cause everything to fall apart.”

    If Iran secures control over access to the strait, it would signify a major shift favoring Tehran, effectively altering the regional power balance. Prior to the war, the strait was open to all ships without fees.

    Trump, who initially proclaimed “Operation Epic Fury” would force Iran into unconditional surrender, is now under pressure to exit a conflict that most U.S. voters oppose by a two-to-one margin.

    Iran is reportedly demanding between 5% and 7% in cargo fees from ships passing through the strait, while Oman is proposing lower fees around 3%. The U.S. opposes any fees.

    A voluntary fee system, at least in name, might serve as a compromise, although threats of Iranian attacks could deter shippers from risking transit without paying.

    Despite months of U.S. military operations—including a two-week bombing campaign in July—Iran maintains control over the strait. U.S. military officials admitted in July that supplies of certain munitions were running low, and Reuters reported Tuesday that the Army had used nearly all its long-range precision missiles.

    Periodic U.S. escalation responses have prompted stronger retaliations from Iran and its proxies, such as the Houthis in Yemen and the petro-chemical chokepoint at the Red Sea.

    On Wednesday, the Houthis announced they had again targeted a Saudi tanker in the Red Sea, enforcing what they describe as a blockade on Saudi oil shipments through the key route bypassing the Strait of Hormuz.

    Additionally, on Tuesday, an attack near Yemen sank an Indian-flagged vessel; all 14 crew members, including 13 Indians, were rescued. Yemeni government factions opposed to the Houthis accused them of orchestrating that attack.

  • India Monsoon Floods & Landslides Claim Over 100 Lives Since July

    India Monsoon Floods & Landslides Claim Over 100 Lives Since July

    Floodwaters and landslides caused by the monsoon season have resulted in over 100 fatalities across India since July, with countless residents fleeing rising waters from their homes.

    The monsoon, which typically delivers vital rainfall to farmers, is becoming increasingly unpredictable and deadly in South Asia due to climate change, experts warn. Assam, in northeastern India, has been particularly hard-hit, with at least 87 deaths reported by Chief Minister Himanta Biswa Sarma. In Sivasagar district, which has seen the most devastation, 47 people have lost their lives, and many neighborhoods remain submerged.

    Authorities have called on the public for financial donations to aid relief efforts. “The destruction here surpasses anything this region has experienced before,” Sarma shared on X. “Material damage can be repaired, but no amount of money can bring back loved ones.”

    Images from AFP show residents navigating flooded streets on rafts and inflatable boats to reach higher ground.

    In Kerala, the southern Indian state, heavy rains over several days have resulted in at least 15 deaths, with seven more individuals reported missing. Relief efforts have established over 300 camps, providing shelter for more than 10,000 people as landslides and swollen rivers force evacuations.

    In Indian-administered Jammu and Kashmir, at least 31 deaths have been linked to sudden, intense rainfall. Lightning strikes have also been deadly, killing at least 22 people in Bihar and Jharkhand states since Tuesday. Most victims are farmers working in rice fields or cattle herders, including four children.

    India’s monsoon-related disasters are a seasonal challenge, often following long, hot summers marked by drought and water shortages. Meanwhile, Sri Lanka reports at least eight deaths from recent heavy rains that have caused flash floods and mudslides since Monday, displacing approximately 12,000 residents and flooding their homes.

    Interestingly, while parts of Sri Lanka suffer severe flooding, eastern regions are experiencing drought, prompting authorities to deliver drinking water via tanker trucks. Experts attribute these extreme weather patterns to El Nino, which has elevated surface temperatures in the central and eastern Pacific Ocean this year.

  • India Panel Cautions Meta Over Modi Video Removal

    India Panel Cautions Meta Over Modi Video Removal

    Indian Prime Minister Narendra Modi (left) and Facebook CEO Mark Zuckerberg (right) at Facebook’s headquarters in Menlo Park, California. — Reuters/File

    On Wednesday, an Indian parliamentary committee called for Meta CEO Mark Zuckerberg to publicly apologize after a video of Prime Minister Narendra Modi was temporarily taken down.

    As the world’s most populous country, India is Meta’s largest market with hundreds of millions using Facebook, Instagram, and WhatsApp.

    Modi’s video, in which he speaks to students during youth-led protests on July 23, was briefly removed from Facebook and Instagram, both owned by Meta, but was later reinstated.

    Meta attributed the incident to a technical glitch.

    However, Nishikant Dubey, chair of the parliamentary committee on communications and information technology, pointed the finger at Meta.

    “The removal of the Prime Minister’s video was not the act of an intermediary but that of a publisher,” Dubey stated, a member of Modi’s ruling Bharatiya Janata Party (BJP).

    “Zuckerberg is expected to apologize within three days.”

    India’s parliamentary standing committees oversee government policies and have the authority to summon officials and company representatives for questioning.

    Yet, they lack the power to impose penalties, revoke legal protections, or initiate prosecutions. Any legal action against online platforms must be undertaken by the government or through the courts under existing laws.

    Dubey revealed that the committee has corresponded with the interior and technology ministries demanding action.

    “If he refuses to apologize, all protections provided under safe harbor provisions for his social media platforms should be revoked,” Dubey added.

    Indian media reported that Meta officials had been called to explain the temporary removal of the video.

    Meta has yet to respond to AFP’s inquiries.

    On July 23, Modi posted a vertical video directly addressing viewers, coinciding with protests led by the online Cockroach Janta Party (CJP).

    The protests, initially sparked in New Delhi over exam irregularities, expanded into a broader movement focusing on employment, youth opportunities, and concerns that critics see as increasing authoritarian tendencies under Modi’s leadership.

    Active on X and Instagram, Modi used vertical videos to connect with a younger audience.

    In his message, he assured students that stricter laws and harsher penalties would be enacted against exam leaks.

  • Server Rent Costs Spike Near SSE After Transition to Wide Network Access

    Server Rent Costs Spike Near SSE After Transition to Wide Network Access

    Rental prices for server racks in data centers near the Shanghai Stock Exchange have surged following the exchange’s decision to shut down local area network market data feed access in favor of a wider area network connection.

    An industry insider revealed that the monthly rent for a standard 4,000-watt rack at the SSE Jinqiao Data Center has increased to approximately CNY10,000 (USD1,480) from CNY7,000 (USD1,040). More troubling than the price hikes is a significant shortage of available inventory.

    Some facilities have seen rack rental prices multiply several times, according to a staff member at a quantitative investment firm.

    Quantitative funds depend heavily on data-driven strategies, such as specialized algorithms and models, for making investment decisions. To receive market data more quickly, some have rented server space directly within the exchange through brokers to gain a ‘speed advantage.’

    Local area network connections are characterized by low latency and high stability, which benefits most quant trading strategies by providing a tangible speed edge compared to wider area network transmissions.

    While the SSE utilized LAN, funds with servers inside the exchange could gather data and execute trades in microseconds. With the transition to WAN, these funds are now relocating closer to the exchange to preserve their ‘speed advantage.’

    The SSE’s shift from LAN to WAN established standardized latency and governance requirements for market data access, which aims to promote fairness among market participants, according to a chief technology officer at a major Chinese brokerage.

    Though quant funds can still lease server racks via securities brokers, regulations now prevent brokers from offering special treatment or leveraging exchange resources for select clients, thus eliminating the previous ‘speed advantage,’ the CTO explained.

    Industry sources indicate that the move to WAN has a pronounced effect on T+0 trading, arbitrage activities, and ultra-high-frequency traders, whose strategies depend heavily on rapid market data transmission, despite representing a smaller portion of overall trading volume.

    An official at an East China-based quant firm remarked that proximity to the SSE Jinqiao Data Center remains essential, as closer physical distance results in faster data transfer speeds.

    Pricing for server racks is primarily based on power capacity, but location plays a crucial role in rental costs. Industry insiders note that premiums tend to increase as data centers are situated nearer to stock exchanges.

  • Chinese Small Brokers Hit Hard by IPO Crackdown

    Chinese Small Brokers Hit Hard by IPO Crackdown

    As Chinese regulatory authorities tighten their oversight of financial gatekeepers, smaller brokerage firms are finding it challenging to sustain their initial public offering (IPO) operations.

    Recent actions by the China Securities Regulatory Commission involved penalizing six securities firms for breaches in their investment banking activities. The penalties included warning letters and orders to rectify violations, with three investment banking department heads held accountable. Additionally, two firms are currently under investigation.

    All six of these firms are small- or mid-sized, with violations mainly centered around inadequate on-site quality control and insufficient disclosures in sponsor reports. Many of these firms are reporting minimal or no income from IPO business in recent years. They have not only failed to bring new projects to listing but have also withdrawn some previously filed IPO applications.

    For example, Guoyuan Securities has only sponsored four IPOs since 2023, with no new projects since early last year. Guorong Securities has gone nearly three years without sponsoring a single IPO. Meanwhile, three IPO applications filed by Yongxing Securities and accepted by the Beijing Stock Exchange between May 2023 and July 2025 have all been withdrawn by the applicants for various reasons.

    “The trend of investment banking activities becoming concentrated among top-tier brokerages is an industry-wide shift,” said a former IPO sponsor representative. “Survival of the fittest is inevitable.”

    He also emphasized that much work remains to improve the quality of information disclosure for IPOs and to enhance the independence and effectiveness of internal quality control systems.

    While leading brokerages generate billions of yuan—equivalent to hundreds of millions of dollars—in investment banking revenue, many smaller firms earned less than 200 million yuan (approximately USD 29.6 million) last year. For instance, Pacific Securities saw its investment banking revenue plummet 57% to 75 million yuan (USD 11.1 million) in 2025 compared to the previous year.

  • El-Sayed Leads Narrow Michigan Democratic Primary Race

    El-Sayed Leads Narrow Michigan Democratic Primary Race

    Democratic candidate Abdul El-Sayed held a slim lead over U.S. Representative Haley Stevens in Michigan’s Democratic Senate primary on Tuesday, though the race’s outcome remains uncertain. With roughly 70% of the votes tallied, CNN reported El-Sayed leading Stevens 49.8% to 46.3%.

    This contest has become a key indicator of the Democratic Party’s future direction, contrasting El-Sayed’s progressive platform with Stevens, a moderate backed by party establishment figures and pro-Israel organizations. Voters and observers are watching closely to determine whether Michigan’s voters are open to candidates who challenge party leadership and focus on issues like reducing costs, expanding healthcare access, and limiting corporate influence in elections.

    The primary winner will face Republican Mike Rogers in November—a critical battle for Democrats aiming to regain control of the Senate.

    The race underscores ongoing tensions between progressive and moderate Democrats, especially on foreign policy issues such as support for Israel—a debate that has played out in primaries nationwide this year. Unlike contests in traditionally liberal areas, this is a statewide election in a pivotal Midwestern swing state, vital for Democrats’ Senate hopes.

    Michigan’s status as both a presidential battleground and a diverse state with one of the largest Arab American communities makes it an important testing ground for the party’s electoral and ideological future. Michigan Democrat Debbie Dingell, who remained neutral in this primary, emphasized the importance of party unity: “This race reflects how much people are hurting,” she said, citing concerns about the rising costs of groceries, gas, rent, and healthcare, all of which will influence voting in the upcoming general election.

    Support for Israel among Democrats has declined sharply—favorability dropped from 59% in 2018 to just 22% in May, based on Reuters/Ipsos polling. Yet, this primary also serves as a broader gauge of voter frustration over economic issues and dissatisfaction with party leadership.

    This election could have a substantial impact on the 2028 presidential race, as emerging Democratic figures seek messages that resonate with voters after their 2024 defeat. A victory for El-Sayed might amplify debates within the party over economic populism, anti-establishment strategies, and foreign policy stances.

    A recent Reuters/Ipsos poll reveals that 71% of Democrats now identify as liberals, a rise from 55% in 2012, with large majorities supporting policies like universal healthcare, expanded abortion rights, and higher taxes on corporations and the wealthy. The poll also highlights deep divisions over U.S. aid to Israel—only 16% of Democrats support continued military and economic aid, while 57% oppose it.

    Voters in Michigan, Virginia, Missouri, Kansas, and Washington State also cast ballots in Democratic primaries for House seats. Several of these races could determine whether the party gains control of the House. In Washington, Democratic Rep. Marie Gluesenkamp Perez and Republican State Senate Leader John Braun advanced to the general election, with progressive Brent Hennrich trailing behind.

    In Virginia, elections for key districts saw Democrats nominating former Rep. Elaine Luria and Henrico County Commonwealth Attorney Shannon Taylor. Missouri’s race saw progressive Democrat Cori Bush lose her bid to unseat Rep. Wesley Bell in a rematch, despite efforts by a pro-Israel super PAC that spent over $8 million last cycle and more than $3 million this year oppose Bush because of her outspoken criticism of Israel. Bell is heavily favored in the upcoming November election, as the district in St. Louis County leans safely Democratic.

  • US and Iran Near Hormuz Agreement Amid Recent Maritime Attacks

    US and Iran Near Hormuz Agreement Amid Recent Maritime Attacks

    A top U.S. official stated Tuesday that an agreement to reopen the Strait of Hormuz with Iran could be finalized “today or tomorrow,” causing oil prices to drop due to hopes of increased shipping through this critical waterway.

    Treasury Secretary Scott Bessent told CNBC, “There’s a chance we might have a deal” in the next few hours, echoing President Donald Trump’s optimistic tone.

    Speaking from the White House on Monday, Trump maintained a mix of diplomatic optimism and stern warnings, describing this as Iran’s “last chance before decapitation.”

    Since February 28, when the U.S. and Israel launched surprise attacks on Iran, tensions have been high. Despite a ceasefire and preliminary agreements, diplomatic efforts have yet to fully resolve the conflict.

    The situation remains volatile: a crew member went missing Tuesday after an attack on a merchant vessel in Hormuz, and an Indian ship sank in the Red Sea following an unknown assault.

    The Strait of Hormuz, a vital route for global oil and gas exports, has reignited fighting. Iran aims to control the strait and impose tolls—new moves opposed by the U.S.

    Last week, Trump threatened to strike Iran “very hard”—possibly targeting civilian infrastructure—but later pulled back, hinting that a deal was near.

    Iran’s foreign ministry denied any ongoing negotiations with Washington, despite Trump’s claims.

    Meanwhile, Secretary of State Marco Rubio mentioned that the U.S. is engaged in discussions between Oman and Iran about increasing shipping traffic through the strait.

    Oil prices declined sharply, with Brent North Sea Crude dropping over six percent to below $79 a barrel, reflecting renewed hopes for reopening the strait.

    Qatar, mediating talks, said diplomatic efforts are ongoing but no direct U.S.-Iran negotiations are scheduled. Its leader, Sheikh Tamim bin Hamad Al-Thani, spoke with Trump by phone Tuesday to discuss de-escalation.

    Trump previously predicted he would know by Tuesday whether talks were making progress, emphasizing that the situation is “not very complex.”

    U.S. diplomatic goals include reopening Hormuz and ensuring Iran’s denuclearization—a process Trump acknowledged might take some time.

    The president previously called Iran “duplicitous” for denying negotiation talks and warned that a U.S. blockade of Iranian ports would persist unless a deal or surrender is reached.

    Five months into a costly war, Iran remains capable of launching missiles and drones at U.S. and allied targets, as well as commercial shipping.

    Earlier Tuesday, the UK Maritime Trade Operations reported an unidentified projectile struck an unnamed cargo vessel in the Strait of Hormuz, off Oman.

    Iran continues to enforce an effective blockade and insists ships must coordinate crossings with Iran.

    The turmoil in Hormuz has heightened the importance of alternative shipping routes, particularly through the Red Sea. Iran-backed Houthis in Yemen have declared a maritime blockade against Saudi Arabia, prompting ships to reroute through the southern Red Sea, especially via the Saudi port of Yanbu, to maintain shipments.

    Since the Houthis announced the blockade, they have claimed attacks on several ships they allege were in violation. On Tuesday, the Indian vessel MSV Faize Noore Oliya sank off Yemen after an unspecified attack, but all crew members were rescued.

    The Red Sea serves as a passage to the Suez Canal. Previously, Houthi attacks during the Gaza conflict led shippers to detour around Africa’s southern tip to avoid threats.