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NATO intercepted a ballistic missile fired from Iran toward Turkey on Monday, according to Turkey's Defence Ministry statement. Debris from the missile landed in Gaziantep province in southern Turkey, approximately 150 kilometers away. This marks the second such interception following a similar incident on March 4, after which NATO strengthened its missile-defense posture in the region. The incident raises concerns about NATO's potential deeper involvement in Middle East conflicts.
Iranian state media released footage on Sunday showing a missile striking a girls' school in southern Iran on February 28, which killed more than 160 people, mostly children. The video, published by Mehr News Agency, shows a munition consistent with a US Tomahawk cruise missile. Evidence indicates the US military was likely responsible for the attack that resulted in significant casualties.
Tsinghua University's Centre for International Security and Strategy identifies Taiwan Strait tensions as China's primary external security concern for 2026. The annual forecast highlights uncertainties from US midterm elections and increased Japanese involvement as key factors escalating regional tensions. The think tank characterizes 2026 as a pivotal year in reshaping China's external defense landscape.
Iran's Assembly of Experts selected Mojtaba Khamenei, son of the late Supreme Leader Ayatollah Ali Khamenei, as his successor more than a week after the elder Khamenei's death in an air strike. The 56-year-old mid-ranking cleric survived recent US-Israeli military operations against Iran. The appointment signals that hardline factions maintain firm control over Iran's leadership.
Iran's Assembly of Experts announced on Sunday that Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, has been appointed as the country's new supreme leader. In an extraordinary session, the assembly voted to designate him as the third leader of the Islamic Republic of Iran. The assembly stated the decision was made following careful and extensive studies and deliberation by its representatives.
🏛 Politics
NATO intercepted a ballistic missile fired from Iran toward Turkey on Monday, according to Turkey's Defence Ministry statement. Debris from the missile landed in Gaziantep province in southern Turkey, approximately 150 kilometers away. This marks the second such interception following a similar incident on March 4, after which NATO strengthened its missile-defense posture in the region. The incident raises concerns about NATO's potential deeper involvement in Middle East conflicts.
European Commission President Ursula von der Leyen told EU ambassadors that the bloc must assess whether the international rules-based order helps or hinders its credibility as a geopolitical actor. Her remarks represent the strongest indication yet that the EU may shift away from decades of strict adherence to global norms. Von der Leyen urged diplomats to rapidly update their strategic thinking.
Iranian state media released footage on Sunday showing a missile striking a girls' school in southern Iran on February 28, which killed more than 160 people, mostly children. The video, published by Mehr News Agency, shows a munition consistent with a US Tomahawk cruise missile. Evidence indicates the US military was likely responsible for the attack that resulted in significant casualties.
Tsinghua University's Centre for International Security and Strategy identifies Taiwan Strait tensions as China's primary external security concern for 2026. The annual forecast highlights uncertainties from US midterm elections and increased Japanese involvement as key factors escalating regional tensions. The think tank characterizes 2026 as a pivotal year in reshaping China's external defense landscape.
The United States and South Korea began a major joint military exercise called Freedom Shield on Monday, with approximately 18,000 South Korean troops participating. The exercise will run through March 19. US Forces Korea has not disclosed the number of American troops involved in the training. The combined exercise takes place amid escalating tensions in the Middle East and South Korean media speculation regarding US strategic intentions.
Iran's Assembly of Experts selected Mojtaba Khamenei, son of the late Supreme Leader Ayatollah Ali Khamenei, as his successor more than a week after the elder Khamenei's death in an air strike. The 56-year-old mid-ranking cleric survived recent US-Israeli military operations against Iran. The appointment signals that hardline factions maintain firm control over Iran's leadership.
The European Union Institute for Security Studies released a report indicating that China faces economic challenges and increasing reliance on export markets. The report recommends the EU utilize its large market and critical industry advantages as negotiating leverage with China. The think tank argues that China's economic difficulties create opportunities for the EU to advance more favorable trade terms through credible negotiations.
Iran's Assembly of Experts announced on Sunday that Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, has been appointed as the country's new supreme leader. In an extraordinary session, the assembly voted to designate him as the third leader of the Islamic Republic of Iran. The assembly stated the decision was made following careful and extensive studies and deliberation by its representatives.
British Prime Minister Keir Starmer and US President Donald Trump held a call on Sunday to discuss the Middle East conflict. The conversation followed Trump's criticism of Starmer's initial reluctance to participate in the US-Israeli military operations against Iran, which began on February 28. The leaders addressed the latest developments in the Middle East and reviewed military cooperation between the UK and US through RAF bases.
French President Emmanuel Macron will visit Cyprus on Monday to meet with Cypriot President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis in Paphos. The visit aims to demonstrate solidarity and strengthen security measures around Cyprus and the eastern Mediterranean region. France has deployed warships to the area following a recent drone attack on the EU member state.
💰 Finance
Contemporary Amperex Technology Ltd (CATL) reported a 42 percent increase in net profit to 72.2 billion yuan (US$10.4 billion) last year, driven by robust lithium-ion battery sales and expansion into new energy storage markets. The company's battery sales volume reached 661 gigawatt hours, representing a 39 percent year-on-year increase. The growth reflects CATL's strengthened position in the global electric vehicle battery market.
Hong Kong's Mandatory Provident Fund Schemes Authority is reviewing proposals to raise contribution caps for higher-paid workers by up to 33 percent. Lawmakers and HR experts warn this could increase business burden and impact employment. Labor representatives, however, advocate for even larger increases to meet statutory requirements and reflect salary growth. The MPFA is currently reviewing the maximum contribution limits.
Southeast Asia is expected to experience above-average temperatures from March to May, according to the Asean Specialised Meteorological Centre's latest seasonal forecast. The region, home to over 500 million people, may see increased electricity demand during the warm period. Simultaneously, the Middle East conflict has tightened energy supplies in the region, creating dual pressure on power grids and energy infrastructure.
Hong Kong Financial Secretary Paul Chan Mo-po stated that Hong Kong is not merely China's economic sandbox but also a driver of national development, emphasizing the city's role as the nation's international financial centre. Speaking at the Redefining Hong Kong 2026 conference, Chan urged Hong Kong to swiftly embrace artificial intelligence and leverage its opportunities, arguing that the benefits outweigh potential job displacement concerns.
Adrian Cheng Chi-kong, former heir apparent to New World Development, plans to spend more time in mainland China and expand technology investments this year. His investment focus spans artificial intelligence, aerospace, and other sectors, aligning with China's latest five-year plan. Cheng stated that realizing the 15th five-year plan would ensure stability and promising prospects. He serves as a member of the Chinese People's Political Consultative Conference.
China's consumer price index (CPI) increased 0.8 percent year-on-year during January-February, according to data released by the National Bureau of Statistics on Monday. The extended Chinese New Year holiday period drove increased consumer spending and contributed to the price rise. However, analysts caution that Beijing may need to implement stronger measures to stimulate demand in order to sustain the economic recovery.
Despite a trade truce agreement between China and the US last November, American companies continue facing critical mineral shortages. China's Ministry of Commerce suspended export bans on gallium, germanium, and antimony to the US for one year. However, China maintains a dominant position in the global market for these vital raw materials, including heavy rare earths, which are essential for American daily operations. Industry insiders note that China's market dominance persists in disrupting US supply chains.
Hong Kong property developers are testing market recovery by raising prices and reducing discounts as sentiment improves and transaction volumes rebound. However, analysts note uneven progress across projects, with many newly launched developments still offering substantial concessions as developers prioritize clearing unsold inventory accumulated during the market downturn. Major developers like New World Development are adjusting their discount policies.
John Greenwood, the economist credited with designing Hong Kong's dollar peg system, stated that concerns over the government's plan to transfer HK$150 billion (US$19.1 billion) from the Exchange Fund are exaggerated. Greenwood asserted that Hong Kong has adequate safeguards against misuse of the de facto sovereign wealth fund, and the transfer would not affect the mechanism defending the Hong Kong dollar's peg to the US dollar.
🌏 International
Traffic through the Strait of Hormuz has come to a virtual standstill, creating the most severe energy crisis since the 1970s. As a critical global oil transportation route, the disruption in the strait has significantly impacted international energy markets, leading to rising energy prices and supply chain disruptions worldwide.
Global financial markets experienced significant volatility on March 9. Geopolitical tensions in the Middle East, with U.S. and Israeli military operations against Iran entering their second week, heightened market concerns. Threats to shipping in the Strait of Hormuz and energy supply disruptions drove international oil prices up nearly 30%, while major global stock indices declined amid increased market risk sentiment.
The United States Central Command confirmed on the 9th that a U.S. soldier died from injuries, marking the seventh American service member killed since the U.S.-Iran conflict began. U.S. leadership indicated that the conflict may result in additional casualties. The incident reflects escalating tensions in the Middle East and has drawn international attention.
The United States military announced that a service member stationed in Saudi Arabia died from injuries sustained in an attack, marking the seventh American military fatality since the conflict began in the region. According to Agence France-Presse, the US Central Command, which oversees American military operations in the Middle East, confirmed the casualty.
Military operations between Iran and related parties have expanded to impact civilian infrastructure. Bahrain accused Iran of attacking desalination facilities critical to the Persian Gulf region's drinking water supply. Following warnings of retaliation, Saudi Arabia issued its first casualty report. Israel conducted overnight air strikes in the region.
President Trump held the inaugural Americas Shield Summit in Florida on the 7th, bringing together leaders from multiple Latin American nations. During the summit, Trump called for military action against drug cartels and transnational gangs, and formally announced the establishment of an anti-drug alliance comprising 17 countries to strengthen regional cooperation in combating drug trafficking.
As tensions in Iran escalate, energy markets face heightened concerns about oil price increases. Multiple energy experts predict that if Brent crude reaches 150 dollars per barrel, US gasoline prices could rise to 5 to 5.5 dollars per gallon, representing nearly a 50 percent increase from the current average of 3.36 dollars. If the Strait of Hormuz faces transportation disruptions, global oil markets could experience severe volatility, potentially exceeding the energy price impacts seen during the 2022 Russia-Ukraine conflict.
Israel's military conducted weekend attacks on fuel storage facilities in Tehran, marking the first targeting of Iran's civilian energy infrastructure since February 28. Iran responded with missile strikes on Israeli oil facilities in Haifa. The conflict disrupted shipping through the Strait of Hormuz, causing significant oil price increases. Brent crude surged 9.26% and WTI crude rose 12.67%, both breaking the USD 90 per barrel threshold. Iran confirmed four storage facilities and one transfer center were damaged in the strikes.
Iran has launched retaliatory military operations in the Persian Gulf region. Multiple explosions were reported in Doha, Qatar today. Saudi Arabia, Kuwait, and Bahrain subsequently reported being targeted in new rounds of attacks. In response to the escalating situation, the United States has ordered adjustments to personnel levels at its embassy in Saudi Arabia. The incident involves multiple countries in the Middle East and has drawn international attention.
Iran announced on the morning of the 9th that Mujtaba, the second son of Khamenei, would succeed as the new Supreme Leader. International analysts note limited public information about his stance, making his future statements and actions significant. Shortly after the leadership transition, Iran's Revolutionary Guards launched ballistic missile attacks on Bahrain, Kuwait, and Doha, Qatar, signaling potential policy directions under the new leadership.
US President Trump stated that he will jointly decide with Israeli Prime Minister Benjamin Netanyahu when to end the Iran conflict. The statement reflects the coordinated stance between the United States and Israel on Middle East policy. Trump did not provide specific timelines or conditions, emphasizing only that the two leaders will maintain alignment on this major decision.
International crude oil prices have surged past 118 dollars per barrel, with West Texas Intermediate futures gaining up to 30%, approaching 120 dollars. The Strait of Hormuz faces significant shipping constraints, limiting production from major Middle Eastern oil producers. Multiple OPEC nations have announced production cuts, while U.S. involvement in regional conflicts further pressures global energy markets and drives prices higher.
Concerns over escalating tensions in the Middle East and potential supply disruptions have driven US crude oil prices sharply higher. The benchmark American crude surged 25% during Asian trading hours, breaking through 114 dollars per barrel. The price increase reflects market anxiety about supply stability in the region and concerns regarding long-term energy availability.
On March 7, Chinese scientists employed artificial intelligence models to analyze samples from the lunar far side collected by the Chang'e-6 mission, successfully studying the chemical composition of the region. The research utilized AI technology to process sample data, providing new scientific evidence and insights into long-standing questions in lunar science.
Iran's Expert Council formally announced that Mojtaba Khamenei, son of late Supreme Leader Ali Khamenei, will assume the position. The 56-year-old mid-ranking cleric survived recent airstrikes by the United States and Israel. His succession indicates that hardline factions maintain control over Iran's government, drawing international attention.