24 stories
Delegations from the United States and Iran have begun formal talks on an initial peace deal in Switzerland. According to the BBC, Vice-President JD Vance leads the US side, while Foreign Minister Abbas Araghchi heads the Iranian delegation. Qatar and Pakistan are acting as mediators.
China, New Zealand's largest export market, has put growing emphasis on increasing domestic food-production capacity. According to RNZ Business, experts say New Zealand retains a competitive advantage in premium dairy and food categories despite the shift.
Ukraine's strikes on Russian energy infrastructure have triggered a major fuel crisis in Russian-occupied Crimea. According to Euronews, long queues have formed at petrol stations and local authorities have temporarily suspended sales as supply tightens.
US Vice-President JD Vance and an Iranian delegation arrived in Switzerland for technical-level talks framed around post-war tensions. At the same time, Tehran said it had closed the Strait of Hormuz to all shipping. Brent crude moved above $80 a barrel.
Australia's poultry industry said the first H5 bird flu case detected last week in Western Australia does not pose an immediate threat to Victoria. The sector emphasised that strict biosecurity measures remain in place. Several states are still keeping hatchery sites under close watch.
Colombia's benchmark COLCAP index closed 4.02 percent higher, one of the region's strongest single-session moves. Bank and energy stocks led the gains. Higher oil prices and investor optimism around the election calendar drove the rally.
U.S. President Donald Trump said that under the new U.S.-Iran memorandum of understanding Tehran will not charge tankers transiting the Strait of Hormuz, but added that Washington reserves the right to impose its own tolls. The text leaves open the possibility of revisiting the toll regime after an initial 60-day transition period.
Guinea has accelerated shipments from Simandou — one of the world's largest high-grade iron ore deposits — to China, the South China Morning Post reported. Beijing wants high-purity ore for low-carbon steel; the deal could deliver up to $3.5bn in annual revenue for Conakry. Australian iron-ore exporters may have to reassess their market positioning.
Iran's Revolutionary Guards announced the closure of the Strait of Hormuz to all shipping ahead of weekend US-Iran technical talks in Switzerland, CNBC reported. Crude oil prices jumped and the dollar slipped as traders priced in supply risk. US military officials said the strait remained open to commercial transit.
Australian Fertilizer Corporation has secured offtake agreements worth $2.4 billion with domestic and international customers to sell its entire production capacity despite the plant not yet being built. The company says the contracts give it a strong base on the financing side. The deals reopen debate about Australia's structural vulnerability in fertiliser supply.
MarketWatch reports that a flurry of headlines on Friday point to an increasingly fragile deal between the United States and Iran. Lingering questions over the Strait of Hormuz reopening have triggered a fresh wave of pressure across oil markets. Traders expect price swings to remain elevated as regional tensions continue.
Crude tanker transits through the Strait of Hormuz jumped sharply after Washington and Tehran activated their sea-lane agreement. The toll-free window leaves long-term governance of the waterway unresolved, and shipowners are watching insurance premiums for the next signal.
China's General Administration of Customs has confirmed Australia became the first major supplier to hit its 2026 beef import quota and that further shipments through year-end will face a 55% tariff. The decision puts pressure on Australia's red-meat exporters facing $1.9bn in annual revenue. In Canberra, the Albanese government called an emergency sector meeting.
Ravenswood Gold, operator of Queensland's largest gold mine, said it had completed a A$1.4 billion ($920 million) external debt refinancing. The deal was led by a consortium that included National Australia Bank and Macquarie. The company has extended the maturity schedule to the end of 2032, and the Australian dollar gained 0.3% against the US dollar after the announcement.
Pressure from China on Myanmar's junta is weakening the position of leader Min Aung Hlaing. Beijing is pressing for concrete moves on border-area security and economic stability, signalling possible shifts inside the regime.
Weather agencies report El Nino is strengthening again, and scientists warn global temperatures will rise in the coming months. Latin America faces drought, flooding and disruptions to farm output.
BBC Middle East analysis says the US-Iran framework agreement that opens a 60-day negotiation window leaves critical issues unresolved: nuclear enrichment, verification mechanisms, and how the $300 billion reconstruction fund will actually be financed. The text foresees a joint protocol for Strait of Hormuz security but the operational details remain undisclosed. Both Tehran and Washington keep cautionary language in their public statements.
RNZ Business reports New Zealand regional carrier Originair has called 2026 a "horrific" year as global jet-fuel prices spiked following the conflict around Iran. The airline posted a net loss of NZ$5.3 million. Management urged the government to design a support mechanism for small carriers exposed to fuel volatility.
Ukraine launched its largest drone attack in years against Moscow on Thursday morning, hitting the city’s oil refinery and sparking fires in and around the capital. President Volodymyr Zelensky said the strike on the refinery was a "justified response" to Russian attacks on Ukrainian targets.
Zimbabwe is emerging as a key node in the global battery supply chain, with new foreign-backed lithium mines coming online at speed. But the share of gains reaching local communities remains uneven. China's Zhejiang Huayou and Sinomine plan to push annual capacity to about 700,000 tonnes.
An Iranian foreign-ministry spokesperson confirmed that the 14-point framework with the United States was formalised on Monday through electronic signature. According to Al Jazeera, sources in Washington said US Secretary of State Marco Rubio also completed the signing electronically. The full text has not been released publicly, but the framework is reported to include the normalisation of Strait of Hormuz passages and a phased lifting of sanctions.
According to ship-tracking data, three Iranian tankers loaded with crude oil have crossed the US blockade line in the Gulf of Oman. The vessels were reported to be heading for East Asia. The development suggests Iranian oil exports are accelerating again after the framework agreement.
Coarse wool from New Zealand's North Island has fetched its highest price in three decades at the Napier auction. The surge in demand comes from several factors: imbalances in global supply chains and certain military textile needs following the conflict in Iran among them. For producers, this is the first major positive signal in a long time.
Indonesia's new export controls and a mining disaster at one of China's major producers have driven global coal prices sharply higher. Thermal coal benchmark prices rose by double digits in a short period. Producer stocks gained on Asian exchanges, while cost pressures rose for countries that depend on coal for electricity.