A MAJOR European airport is set for a huge, multi-billion expansion.
Rome Fiumicino Airport in Italy is a major European hub with around 51million passengers travelling through the airport each year.
Rome Airport is set to undergo a multi-billion-pound transformationCredit: Aeroporti Di RomaThere will be a new terminal and a fourth runway as part of the projectCredit: Getty
And now the airport has revealed plans for a €9billion (£8.48billion) project to make the airport bigger.
Plans include adding a fourth runway to the airport, as well as opening a new terminal.
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The new 3,400-metre-long runway will partially replace runway one, which will be shortened by 900 metres with this area being turned into a park that is open to the public.
Other upgrades will be carried out on the taxiways, aprons and connecting roads.
Then, the new 350,000sqm terminal will be spread across several levels, with two new boarding areas, 76 gates and an exhibition area showcasing local culture.
The new terminal will also have a number of shops, green areas and public spaces.
The money will be split between €5billion (£4.28billion) being spent on expansion and the other €4billion (£3.4billion) being spent on upgrading existing facilities.
The aim is that the airport will be able to handle up to 100million passengers a year by 2046.
The airport is aiming to complete the project by 2033Credit: Aeroporti Di Roma
The project is set to be complete by 2033, which will mark the 2,000th anniversary of Christ’s death and resurrection.
According to The Financial Times, the airport’s chief executive Marco Troncone said: “If this happens, the new runway may be ready in 2033, in time, ideally, for the next iconic event . . . to mark 2,000 years after the death of Jesus Christ.”
There are several airlines that fly between the UK and the Italian capital.
For example, you could fly with Ryanair or easyJet that both offer flights from a number of regional airports.
TORONTO & HO CHI MINH CITY, Vietnam — dynaCERT Inc. (TSX: DYA) (OTCQB: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to announce further progress in its strategic market expansion throughout Vietnam, with multiple customer deployments advancing simultaneously across several key industrial sectors.
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As part of its continued market entry strategy, the Company has completed the pre-installation requirements for an additional pilot customer operating its own fleet of long-haul trucks in the waste and recycling industry in the Hanoi region. Installation of HydraGEN™ units is expected to be completed by mid-August.
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Further to the Company’s previously announced agreement with a leading oil and gas company in Vietnam, the final selection of fire trucks, forklifts and mobile cranes has now been completed, with pilot installations scheduled to commence during the same period.
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In addition, dynaCERT has finalized an enhanced telematics solution, enabling HydraLytica™ to receive engine data, in conjunction with the recent installation of multiple HydraGEN™ units on trucks and container handling equipment operated by one of the world’s largest logistics companies at its Vietnam port operations. The system will establish detailed operating baselines and enable future measurement of fuel consumption and emissions performance across the customer’s fleet.
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With active deployments now spanning municipal waste collection, oil and gas operations, logistics, port handling equipment and industrial material handling, Vietnam is rapidly evolving into one of dynaCERT‘s most strategically important international markets. The diversity of applications being evaluated continues to demonstrate the adaptability of HydraGEN™ technology across a broad range of heavy-duty diesel equipment while expanding awareness of the Company’s technology throughout the region.
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The Company’s growing presence across multiple fleet operators and industrial sectors is increasing market visibility beyond Vietnam. As awareness of multiple installations continues to grow, the Company is engaged in further discussions in neighboring markets, including Cambodia, Indonesia and Japan, as dynaCERT broadens its Southeast and East Asian reach.
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The Company expects multiple pilot installations across Vietnam to be operational during the third quarter of 2026, representing a significant milestone in the execution of its commercialization strategy in the region.
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Bernd Krueper, President and Director of dynaCERT, commented: “We now have projects progressing simultaneously across multiple industries, each providing valuable operating data and further demonstrating the versatility of HydraGEN™ technology under real-world conditions.
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As our installed base continues to grow, we are seeing increasing market awareness and commercial engagement from organizations both within Vietnam and throughout the surrounding region. We believe Vietnam is establishing itself as an important reference market for dynaCERT’s continued expansion across Southeast Asia.”
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About dynaCERT Inc.
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dynaCERT
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Inc. is a Canadian Cleantech company based in Toronto specializing in technologies for reducing fuel consumption and CO₂ emissions from internal combustion engines. The Company manufactures and distributes carbon emission reduction technology along with its proprietary HydraLytica™ Telematics. HydraLytica™ is a platform for capturing data to monitor fuel consumption and calculate greenhouse gas (GHG) emissions – the basis for monetizing CO₂ savings.
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dynaCERT
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methodology has also been Verra-certified, which will provide access to the global market for tradable carbon credits in the future.
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As part of the growing global hydrogen economy, dynaCERT’s patented technology produces hydrogen and pure oxygen on-demand through a proprietary electrolysis system. These gases are supplied through the engine clean air intake to enhance combustion, which has been shown to reduce carbon emissions and improve fuel efficiency. The Company has invested heavily in research and development and has its own production facilities. dynaCERT’s technology is designed for a wide range of diesel engines used in on-road vehicles, refrigerated trailers, mining, oil & gas, off-road construction and port handling equipment, as well as stationary generators.
This press release of dynaCERT Inc. contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause dynaCERT’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors.
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Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
A UK airport has been given official approval for its planned expansion that will see it DOUBLE passengers numbers.
Its other plans include a brand-new terminal and expanding the existing one too.
London Luton Airport will expand in a huge £2.4billion projectCredit: AlamyThe airport is home to airlines like Ryanair, easyJet and Wizz AirCredit: EPA
London Luton Airport has now cleared all legal hurdles in order to expand in a £2.4billion project.
The initial plans were first approved by the government in April 2025.
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Then on July 31, the Supreme Court declined to grant campaigners final permission to appeal – meaning the plans can go-ahead unopposed.
Now, the airport is set to build a new terminal as well as work on its existing one so that it can welcome up to 32million passengers by 2043.
DESPITE the objections of environmental lobbyists, the expansion of Luton Airport can ONLY be a good thing for the UK and its beleaguered travellers.
Airport capacity in the UK has simply not kept up with the pace of demand and increasingly outdated infrastructure is creaking under the strain.
We desperately need to invest in our airport infrastructure to compete on the global stage. As an island, it’s even more essential.
Luton has been the butt of jokes since the 1977 classic Campari advert that had Lorraine Chase utter the famous line, ‘Nah, Luton Airport’ – satirising the growth in international travel.
While nothing will happen overnight, the opening of a second terminal will no doubt transform the experience of travelling through what is right now a very cramped airport.
And with theme park giant Universal looking to bring their signature attractions to a brownfield site in Bedfordshire, increasing the connectivity and number of passengers the airport can handle is ever more of a priority.
A 15-year campaign led by the Los Angeles County Museum of Art to conserve Watts Towers has run out of budget at the same time that a $22-million renovation of the campus is poised to take flight. The situation highlights what community organizers and the site’s leadership say is a piecemeal approach to the protection and preservation of one of the city’s most important cultural landmarks.
For decades, the city of Los Angeles and private foundations have invested in preserving the towers, the 102-year-old masterpiece of folk art built by Italian immigrant Sabato “Simon” Rodia. But while the landmark itself underwent years of painstaking conservation, which was recently halted at 90% complete, the arts campus surrounding it evolved in fits and starts.
Now, after 14 years of planning, an equally ambitious investment is being made to transform the Watts Towers Arts Center Campus (WTACC), which has served as an essential cultural and educational center for more than 50 years. The work will mark the first major upgrade of the WTACC since it opened in 1970, and leaders hope the transformation continues uninterrupted until it reaches the finish line.
“This is about investing in the people of Watts and creating a space the community can be proud of,” Mayor Karen Bass wrote in an email. “Thanks to the dedication of our state, county and local partners, philanthropic supporters and community organizations, we’re one step closer to creating a greener, healthier and more vibrant campus that honors the legacy of Watts while serving generations of Angelenos to come.”
The campus renovation is slated to break ground in October, with completion targeted before the 2028 Summer Olympics. The project is funded through a patchwork of public and private sources, including a $10.1 million investment from the Bezos Earth Fund, the climate philanthropy organization founded by Amazon Executive Chair Jeff Bezos.
The redesign will reshape how visitors experience the campus. More than 30,000 square feet of park space will be added along E. 107th Street, while climate-resilient landscaping will reduce flooding, improve stormwater management and create cooler public spaces. More seating and shade will be added to its amphitheater, new public art will be commissioned, and additional walkways, gathering areas and 200 trees will make the towers the physical centerpiece of what will be a 5-acre campus.
“It’s been the right time for a long time,” said WTACC Director Rosie Lee Hooks of the project’s long gestation during a recent interview.
A girl plays near the Watts Towers at the Watts Towers Arts Center Campus, which is poised to undergo a $22-million renovation just as funding for the restoration on the towers themselves has run out.
(Eric Thayer / Los Angeles Times)
The center offers free art, film and music classes for students and seniors, houses an art gallery and hosts two annual music festivals. Thousands of artists, filmmakers and musicians have passed through its doors as students and instructors.
Hooks, who has led the center since 2010, said the project’s long timeline reflects more than bureaucracy.
“It took so long because we’re in Watts,” she said, noting that the neighborhood has faced decades of disinvestment dating back to the 1965 Watts uprising. “People are still scared to come down here. However, our community is very, very rich in culture.”
That history of underinvestment is reflected in the campus itself, supporters say.
“This is the story of development in Watts and other communities of color in Los Angeles, where racist planning practices, combined with a lack of investment in the city’s arts and culture facilities, create a haphazard approach to management and design,” Tori Kjer, executive director of the Los Angeles Neighborhood Land Trust (LANLT), wrote in an email. The organization has partnered with the city on the campus’ redesign since 2012, when planning began to incorporate a vacant lot adjoining the towers into the campus.
The landscape design echoes Rodia’s own artistic process. Over the course of 33 years beginning in 1921, he transformed thousands of disparate objects — including mosaic tiles, plates, glass, shells and pottery — into 17 interconnected structures, one of which rises more than 99 feet.
“Assemblage is the practice of creating something meaningful from many distinct parts,” Sara Zewde, founder and principal of Studio Zewde, the landscape architecture firm designing the campus, wrote in an email. “Rather than erase those histories and make the campus feel as though it had always been a singular space, we wanted the landscape to celebrate them.”
A model created by landscape design firm Studio Zewdeof the proposed renovations to the Watts Towers Arts Center Campus. Groundbreaking is set to begin in October on the $22-million project.
(Eric Thayer / Los Angeles Times)
The campus’ landscape has remained largely unchanged since WTACC opened. Since then, several buildings and public artworks have been added, but LANLT’s Kjer described the site as a “hodgepodge of concrete, worn-out planting areas and grass … with a disjointed flow and limited way-finding.”
Around the time that LANLT partnered with the city, a separate proposal to build a skate park on the adjoining lot drew community opposition and, according to Kjer, delayed the project by about four years. The skate park ultimately opened a few blocks away, allowing the parcel to become part of an expanded campus.
The WTACC project gained momentum in 2021 when California’s Proposition 68 Statewide Park Program awarded a $4.5 million grant. The following year, Assemblymember Mike A. Gipson (D-Carson) secured an additional $4 million in the state budget.
Once that funding was committed, “it was just a domino effect,” Gipson said, helping attract additional public and private investment.
“This will be a space that will be nourishing for the soul,” said Daniel Tarica, general manager of the city’s Department of Cultural Affairs, which manages the towers. “We’re finally going to be able to make the whole campus useful.”
A building at the Watts Towers Arts Center Campus, which will receive a $22-million renovation beginning in October. Community members and supporters say the work has been a long time coming.
(Eric Thayer / Los Angeles Times)
Watts Towers attract about 40,000 visitors a year, according to the California Department of Parks and Recreation, and were designated a U.S. National Historic Landmark in 1990. In June, the site was added to the World Monuments Fund’s “Irreplaceable America” list of 10 endangered historic sites in the United States.
While Gipson hopes the renovated campus will attract additional international visitors, he also wants more Angelenos to discover one of the city’s defining cultural landmarks.
“The towers tell a story about Los Angeles,” Gipson said. “We want people to know that the Watts Towers are part of who Los Angeles is.”
Tarica said the project is designed to serve neighborhood residents as much as tourists.
“It’s a huge resource, and we have fought as a department, and as a city, to make sure that we have the funding to continue teaching … and programming,” he said.
A statue of Watts Towers creator Sabato “Simon” Rodiastands at the entrance to the Watts Towers Arts Center Campus, which is getting a $22-million renovation beginning in October, with the goal of completion in time for the 2028 Olympics in Los Angeles.
(Eric Thayer / Los Angeles Times)
For Hooks, however, the renovation’s success will ultimately be measured by its impact on the surrounding community.
She sees the campus as filling a void left by decades of cuts to arts education while providing a place where residents can gather and learn.
“Our community cannot afford art, especially now with all of the issues around health, around food, around jobs, around ICE separating families,” she said.
The project’s funding is restricted to renovating the campus and does not include the conservation of the Watts Towers themselves. LACMA Deputy Director Diana Magaloni said about $412,000 is needed to finish the project. The city has allocated $150,000 for ongoing maintenance and monitoring, and both Magaloni and Tarica said they remain optimistic the conservation campaign and campus transformation will be completed before Los Angeles welcomes the world for the 2028 Summer Olympics.
“It would be amazing to have this funding to be able to do the campus restoration and [the towers restoration] in preparation for us to be on the world stage,” Tarica said.
Outsourcing credit lets the Chinese EV maker scale fast while leaving asset risks to lenders.
This article appears in the July/August issue of Global Finance Magazine.
Walk the streets of cities like Valencia or Paris, and you don’t need the data to see BYD everywhere, especially in ride-hailing fleets and private transportation. These days, the sleek logo you notice isn’t always Tesla’s or Kia’s; it’s often BYD’s.
Sales of BYD’s electric vehicles surged across Europe last year, up roughly 270% year over year. In the first quarter of 2026, sales increased by another 156%.
While most coverage frames this as a product story, the bigger story is financing: BYD’s rise has less to do with design or price than with how the cars are financed.
BYD hasn’t expanded in Europe by building a traditional captive-finance arm. Instead, it has plugged directly into the region’s existing banking and leasing infrastructure, achieving captive-finance reach without the balance-sheet burden. In doing so, it has turned Europe’s financial system into a distribution engine that moves vehicles by turning them into financeable assets.
At first glance, BYD’s success seems straightforward: strong demand, rapid adoption, and a new entrant quickly gaining share. But in a market where vehicles are often financed, leased, and cycled through multiple channels before reaching long-term ownership, the headline numbers don’t always tell the whole story. The surge in European BYD registrations may signal demand and financing strength, or it may reflect window dressing shaped by the way the system works.
Turning Cars Into Collateral
Stefan Bratzel, Center of Automotive Management
BYD relies on a familiar but strategically deployed set of financing and leasing arrangements. Vehicles are sold in bulk to leasing companies, fleet operators, and dealer networks, which then finance or lease them to end users, including corporate clients, ride-hailing drivers, and private buyers. European banks and auto-finance platforms provide the underlying credit, while leasing firms structure contracts and manage residual-value assumptions.
What stands out in BYD’s case is the speed and scale of the operation.
“European OEMs [original equipment manufacturers] built their captive finance arms over 30 to 40 years, and those businesses now function as profit centers,” says Stefan Bratzel, founder and executive director of the Center of Automotive Management (CAM) in Bergisch Gladbach, Germany. “BYD cannot replicate this overnight, nor does it try to.”
Instead, he notes, the company is partnering with established asset finance providers to accelerate market entry. BYD gains “speed to market at the cost of margin while it accumulates the balance sheet and regulatory standing to eventually internalize these functions.”
In effect, BYD is compressing a decades-long buildout of captive finance into a partner-led model, trading margin and control for faster access to Europe’s credit and leasing channels.
It’s easy to see the appeal for lenders: Vehicles placed into leasing or fleet programs become financeable units, bundled into loan or lease portfolios that generate predictable cash flow. In a market where electrification is both a policy priority and an investment theme, high-volume EV programs provide a steady pipeline of assets.
Window Dressing?
The speed of BYD’s expansion raises questions about the numbers.
“BYD’s channel mix is improving,” says Matthias Schmidt, an independent analyst tracking the European auto market. Retail share in Germany rose to 32.5% of volume in the first four months of 2026, compared with 12.4% for all of last year, suggesting a shift toward a more balanced sales mix. But the relationship between registrations and vehicles actually on the road is less straightforward.
“Out of more than 30,472 BYD models registered in Germany since it entered the market in December 2022, only 18,536 are currently on the road,” says Schmidt, suggesting that “after models have been registered, they are then being exported to other European markets as used-car inventory or are going back into used-car inventory in Germany. This could be a strategy to demonstrate to market observers that they are performing better in Europe’s largest market than they actually are. We call it window-dressing the data.”
In a system driven by leasing, fleet placement, and dealer networks, that gap is not necessarily unusual. Vehicles can be registered into the channel before reaching long-term ownership, then repositioned through resale, export, or short-term use across markets. For financial stakeholders, the distinction matters: registrations may signal momentum, but they do not necessarily show sustained demand.
What Banks Are Really Underwriting
For the institutions partnering with BYD and helping fund its expansion, the focus is less on BYD’s near-term concern — speed to market — and more on how those assets perform over time.
Residual value assumptions underpin the economics of leasing. If vehicles retain value, the system works: Monthly payments remain competitive, credit risk remains contained, and lenders and leasing firms can recycle assets efficiently through secondary markets. When they don’t, the economics tighten quickly.
“The EV residual value question is the single biggest structural challenge in automotive finance right now,” Bratzel says. “Whoever solves that problem credibly — either through data, scale, or balance sheet — will have a significant structural advantage.”
Bratzel points to one potential factor that could shape how banks ultimately price that risk: “Vertical integration around the battery — especially battery cells — can have a positive impact on risk assessments, as this is based on a lot of their own data.”
BYD’s advantage stems in part from how much of that data it controls. Unlike many automakers that rely on third-party suppliers for critical components, the company produces its own battery cells and key parts of the EV supply chain. That level of vertical integration gives BYD clearer visibility into battery performance over time, arguably the most important variable in determining how an electric vehicle depreciates.
The geographic distribution of BYD’s growth in Europe adds another layer.
According to Schmidt, roughly 70% of Chinese EV registrations in Western Europe in the first quarter of this year were concentrated in Spain, Italy, and the U.K.: markets that tend to be more price-sensitive and open to new entrants.
While this doesn’t invalidate BYD’s growth, it suggests that location-dependent finance dynamics are driving expansion as much as consumer demand.
Traditional OEM Captive Finance
BYD Partner-Led Model
Builds and operates own finance arm
Uses banks and leasing partners
Significant capital commitment
Lower capital burden
Controls lending and leasing directly
Outsources financing functions
Often takes decades to build
Can scale immediately
Retains finance profits
Trades margin for speed
Higher control
Faster market entry
Source: Center of Automotive Management (CAM)
What Happens Next
BYD’s approach is working. It has outsourced the slowest component of automotive expansion — credit formation — while maintaining control of product supply and commercial momentum.
As Bratzel suggests, this is not a permanent structure: It’s transitional. It’s designed to gain scale first, then possibly internalize financing over time. Meanwhile, European banks and leasing platforms are providing balance-sheet support to enable growth.
Schmidt’s analysis leaves little ambiguity: Not all growth is created equal. Registration data may reflect momentum, but it can also reflect channel dynamics — fleet placements, dealer inventory, cross-border repositioning — that cloud actual on-the-ground demand.
For lenders, the distinction is not academic. They are not underwriting registrations. They are underwriting residual values, which is where the rubber meets the road.
Over the next two to three years, vehicles deployed and financed today will begin to cycle back through the system via lease returns, resale markets, and secondary channels. At that point, the assumptions that anchor today’s financial models will be tested against real-world market conditions.
But the next phase will be less about volume. It will instead focus on testing the model that facilitated BYD’s rapid entry into Europe. If BYD’s vehicles hold their value, the company’s partner-led model will look less like a workaround and more like a fast-track version of what legacy automakers spent decades building. If residual values weaken, or if too much of the growth proves channel-driven rather than demand-driven, the financing engine that built BYD’s presence could become a constraint.
That’s the real question for banks: Can the vehicles BYD has placed in Europe retain their value once they return to the market? Because in a financing-driven system, growth can be engineered, but asset performance determines whether it lasts.
Rocco Pendola is a contributing writer based in Spain.
Heathrow flights will be more expensive for decadesCredit: GettyCosts of the Heathrow expansion will be passed onto passengersCredit: Alamy
The maximum airport charger per passenger will be about 15p in 2028, rising to an estimated 30p in subsequent years.
The higher airline charges, which will be built into the cost of flights, will last for about 20 to 25 years.
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Heathrow West, a rival expansion scheme led by property billionaire Surinder Arora, has been given the go-ahead to recoup £4.1 million it spent on its plan in 2025 up to November 25, despite it not giving the go-ahead.
Heathrow Airport Limited (HAL) scheme is estimated to cost £33billion, including £1.5billion to move the M25, and is expected to be fully privately financed.
It would see Heathrow’s annual capacity increase to 756,000 flights and 150million passengers.
British Airways, the largest airline at Heathrow, warned that early cost recovery by HAL would create a risk that expansion will be “unaffordable for consumers and inconsistent with a credible benefits case”, according to a CAA document.
Airlines have repeatedly complained that Heathrow has the highest charges of any airport in the world.
Tim Johnson, the CAA’s director of consumers and markets, said: “Our decision strikes a balance between supporting the delivery of benefits to consumers through timely progress on Heathrow expansion, whilst also protecting them from undue increases in costs.
“The costs Heathrow can recover are capped, independently scrutinised and subject to efficiency reviews, helping ensure that passengers only pay for efficient costs that are justified.”
A separate process will be conducted to decide arrangements for costs incurred from 2027.
HAL’s scheme is estimated to cost £33billion, including £1.5 billion to move the M25Credit: Alamy
Last month, the Government launched a consultation on its Heathrow expansion national policy statement, setting out the conditions needed if the project is to be given the go-ahead.
Former chancellor Rachel Reeves said she was determined to get “spades in the ground” for the third runway which is set to be built by 2035.
However, Prime Minister Andy Burnham previously expressed concerns over Heathrow expansion, stating the plans divert infrastructure investment “away from the North and traps it in London”.
A Heathrow spokesperson said the project will give passengers more choice while providing a “real economic boost to every region and nation of the country”.
He went on: “We have been clear from the start that unlocking the private investment that will deliver these benefits requires a supportive regulatory framework.
“We are carefully considering the CAA proposals and will make investment decisions accordingly.”
Pressure is growing on the EU to sanction Israel for its expansion of illegal settlements and violence against Palestinians in the Occupied West Bank.
Published On 17 Jul 202617 Jul 2026
The European Union has renewed its call on Israel to halt the expansion of settlements in the occupied West Bank, warning that continued construction and other unilateral measures threaten the viability of a future Palestinian state.
An EU spokesperson on Friday urged Israel to stop the legalisation of settlement outposts, land appropriation, demolitions, forced evictions of Palestinians, and other actions that “undermine the viability of the two-state solution”.
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The statement came days after Israel’s security cabinet approved the allocation of 1.3 billion shekels ($427.8m) to establish 34 new settlements in the occupied West Bank.
The funding package marks one of Israel’s largest recent investments in settlement expansion and has drawn criticism from Palestinian officials and international partners.
The United Nations, the International Court of Justice and most countries consider Israeli settlements in territory occupied by Israel since 1967 to be illegal under international law. Israel rejects that interpretation.
The EU has long maintained that it does not recognise Israel’s sovereignty over the territories it occupied in 1967. However, the 27-member bloc remains divided over whether to take stronger measures against Israel’s settlement policy.
EU foreign ministers this week failed to reach a consensus on proposals that could restrict trade with settlements in the occupied West Bank, despite growing calls from several member states for tougher action.
The renewed diplomatic pressure comes amid continuing violence in the occupied West Bank, where Palestinians, including children, have been injured in separate incidents involving Israeli settlers and Israeli forces.
On Friday, two Palestinian children were taken to hospital after suffering head and facial injuries when Israeli settlers allegedly hurled stones at their family’s vehicle in the Wadi al-Sha’er area, according to the Palestinian news agency Wafa.
In another incident, a 16-year-old Palestinian boy was shot by Israeli forces in the occupied West Bank. He remains in hospital.
“Everybody agrees that the situation in the West Bank is really intolerable,” the EU’s foreign policy chief, Kaja Kallas, said ahead of talks among EU foreign ministers in Brussels on Monday.
“What is happening in the West Bank is actually making it more and more impossible that the two-state solution ever can come into effect,” she added.
Tower Semiconductor (TSEM) said it plans to invest about $3B to expand its advanced semiconductor manufacturing capacity in Japan, backed by about $1B in grants from the Japanese government. The expansion is aimed at meeting rising demand from AI and data center
Former Walt Disney Co. Chief Executive Bob Iger and Thrive Capital founder Joshua Kushner have hired investment bankers and discussed making a bid for the National Basketball Assn. expansion team in Las Vegas, according to people familiar with their plans.
The bid would be for a majority investment in the team, according to the people, who asked to not be identified because the discussions are private. The NBA’s board of governors approved the exploration of a potential franchise expansion in Las Vegas and Seattle in March.
Iger and Kushner are discussing making the bid through Thrive Eternal, a company set up by Kushner’s firm to invest in iconic brands and cultural assets. The company operates as a holding company, structured to raise new capital and make investments into businesses without a set exit timeline. Iger is involved with Thrive as an advisor.
It’s unclear what the size of the bid and the valuation of the franchise would be. Representatives for Thrive Capital and Iger declined to comment.
Iger, who took over as CEO of Disney from 2005 to 2020 and then again from 2022 to March of this year, had a tenure marked by acquiring marquee entertainment franchises and expanding them, including Pixar, Marvel Entertainment, Lucasfilm and 21st Century Fox. The executive previously bought a controlling stake in Angel City Football Club, a women’s soccer team, with his wife, Willow Bay. A big basketball fan, he’s had a lot of experience with the NBA through Disney’s ESPN sports networks.
Kushner, meanwhile, has been building an investment portfolio of tech startups for decades, from investing early into OpenAI and Instagram, and working on dozens of incubations through his venture firm, Thrive Capital. The venture firm has total assets under management of more than $50 billion, according to a regulatory filing. Earlier this year, the firm raised more than $10 billion for its largest fund ever. The NBA discussions show the latest iteration in how Thrive is expanding beyond its roots of investing in technology startups, into also influencing culture through entertainment and sports.
Announced in April, Thrive Eternal, which operates a permanent capital vehicle, raised its initial capital from existing Thrive investors. “These are assets with qualities that cannot be replicated by technology,” Kushner said in a social media post. “In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more.”
Thrive Eternal’s first investment, though not a controlling stake, was backing a Major League Baseball team, the San Francisco Giants. The capital of that deal is set to go toward the Giants’ Oracle Park and its surrounding real estate, according to a person familiar with the matter, Bloomberg previously reported.
The Academy of Motion Picture Arts and Sciences invited 529 artists and executives to join its membership Wednesday, including actors Jenna Ortega, Teyana Taylor, Jacob Elordi, Mia Goth and Josh O’Connor and filmmakers Benny and Josh Safdie, as the organization continues to reshape the body that votes on the Oscars.
If all invitees accept, the academy’s voting membership will grow to 10,338 members, up from roughly 6,000 a decade ago, as the organization continues to expand its ranks and broaden its international reach. Overall membership, including emeritus members who no longer vote, will rise to 11,319.
The latest class includes 95 Oscar nominees, 21 Oscar winners and three recipients of Scientific and Technical Awards.
“We are delighted to invite this remarkable group of film artists and professionals from around the world to join the Academy,” academy CEO Bill Kramer and President Lynette Howell Taylor said in a joint statement. “Through their commitment to filmmaking, this year’s exceptionally talented class has made significant contributions to our global movie industry.”
The academy said 42% of this year’s invitees are women, 56% are from underrepresented communities and 53% are from 60 countries and territories outside the United States. Last year’s class was 41% women, 45% from underrepresented ethnic or racial communities and 55% international.
Across the academy’s overall membership, 36% are women, 25% come from underrepresented communities and 22% are international, according to the organization.
Other notable invitees include actors Jon Bernthal, Julia Garner, Bill Skarsgård, Anthony Ramos, Jemaine Clement, Jenny Slate and Simu Liu; singer-songwriter Sara Bareilles; documentary filmmaker Andrew Jarecki (“Capturing the Friedmans”); and director Zach Cregger (“Weapons”).
Nine individuals, including filmmakers Benny Safdie (“The Smashing Machine”) and Josh Safdie (“Marty Supreme”), received invitations from multiple branches and must choose one upon accepting membership.
Membership in the academy is by sponsorship rather than application. Oscar nominees are automatically considered for membership in the year they are nominated, while branch executive committees review additional candidates before recommendations are approved by the academy’s Board of Governors.
The latest class is five names fewer than last year’s group of 534 invitees. The academy’s largest-ever class came in 2018, when it invited 928 new members as part of a broader effort to diversify its ranks.
The 99th Oscars will take place March 14, 2027, at the Dolby Theatre at Ovation Hollywood.
A federal appeals court on Tuesday allowed the Trump administration to resume carrying out speedy deportations of undocumented migrants throughout the United States, not just near the border.
A divided three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit threw out a lower court ruling that temporarily blocked President Trump’s expanded use of expedited removal. The ruling was a big victory for the Republican administration, which views the expansion of so-called expedited removal as a key tool for carrying out its mass deportation policy.
An attorney for the plaintiffs said the ruling “undermines the fundamental principle that people receive due process when the government seeks to deport them.”
“The Trump administration’s push for fast-track deportations will subject people to an unfair and error-prone system,” Anand Balakrishnan, senior staff attorney with the ACLU’s Immigrants’ Rights Project, said in a statement.
Trump appointed the two judges in the majority in Tuesday’s decision. The third was appointed by President Obama, a Democrat.
The plaintiffs had not “shown that the expedited-removal process denies its members notice and an opportunity to be heard,” Judge Justin R. Walker, one of the Trump appointees, wrote.
Expedited removal — quick deportation without a chance to appear before a judge — has previously been applied to migrants arriving by sea or caught at or near the border shortly after crossing.
In January, Trump expanded its use to undocumented migrants all over the U.S. Immigration agents began whisking migrants away from courthouses where they had gone for immigration proceedings and then removing them from the country within days.
U.S. District Judge Jia Cobb ruled in August that plaintiffs challenging the expansion had made a “strong showing” that it was trampling on people’s due-process rights, and she issued a stay order putting the policy on hold. Cobb was appointed to the federal bench by President Biden, a Democrat.
Many migrants living deep in the U.S. have been in the country for more than two years, making them ineligible for expedited removal under federal law. Cobb said the administration had not developed procedures to ensure they and other groups of migrants were not wrongly deported under the expedited process.
The plaintiffs had put forward “substantial evidence” that the expedited removal process, on the contrary, carried a high risk of error when applied more broadly, Cobb said. The ruling cited examples of people who had lived in the U.S. for far longer than two years but were still ordered to be removed in expedited proceedings.
The Trump administration appealed, arguing in a court filing that its expansion was legal, and protections were in place to prevent arbitrary removal.
Cobb’s ruling was an “egregious error” that was depriving the administration of an “essential tool to combat the unprecedented surge of illegal immigration over the past few years” and efficiently deport potentially millions of people, Justice Department attorneys argued in the October filing.
The airport has won a prestigious architecture award after a huge multi-billion Euro project, and it was the only European location on the list of the world’s most beautiful airports for 2026
08:58, 18 Jun 2026Updated 08:59, 18 Jun 2026
The airport was the only one in Europe to win the award(Image: Fraport AG)
The world’s most beautiful airports for 2026 have been announced, and only one European hub has made the list.
Prix Versailles published its World’s Most Beautiful; Airports List 2026, which included airports from around the world, “each one exhibiting extraordinary, distinctive architecture”, according to its press release. Among the winners on the list were Guangzhou Baiyun International Airport in China, and Pittsburgh International Airport in the US.
The sole European destination to make the cut was Frankfurt Airport, which unveiled its brand-new Terminal 3 in April, mostly for passengers taking long-haul flights. The £3.46 billion expansion took over 11 years, and became one of the continent’s largest infrastructure projects.
Sitting on 1.3 square kilometres of land, it’s around the same size as Frankfurt’s core city centre, and it includes a 2,900-square-metre culinary space, 112 check-in counters, premium lounges, and upmarket boutiques.
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The terminal is connected to the rest of the airport via a 3-mile-long Sky Line people mover, which can carry up to 4,000 passengers, with the journey taking just eight minutes. Terminal 1 has two train stations connecting the airport to passengers’ final destinations: a Regiobahnhof that takes passengers into the city centre and Fernbahnhof where you can take Germany’s high-speed ICE trains across the country.
Terminal 3 was designed by architect Christoph Mäckler, and the awards announcement said it “was contrived to be a lively urban environment”. It added: “To give travellers a smooth, familiar experience, its piers, boarding gates and lounges emulate the streets and squares of a city. Its aesthetics rely on noble materials in warm tones, like Jura limestone and travertine. Vast spaces, bathed in natural light thanks to large plate glass windows, create a soothing atmosphere while minimising the use of artificial light sources.”
Frankfurt is not generally a city break destination chosen by Brits, but it has a colourful old town with medieval houses and historic charm. Römerberg in particular is popular with tourists, and the cosy half-timbered houses make the perfect backdrop for Frankfurt’s famous Christmas market.
The Städel Museum is another must-visit for tourists, and this vast art gallery has works from the Middle Ages to the present day, as well as impressive visiting exhibitions such as a Monet show that’s on until July 5. If you don’t have much time to see the city, head for the Main Tower, which stands at 240 metres, for impressive 360-degree views.
Frankfurt is also known for being the financial capital of continental Europe, and its financial district is sometimes known as ‘Mainhattan’ after the River Main and its skyline’s resemblance to New York. Wander around and you’ll see lots of unique, contemporary architecture such as the glass-panelled Commerzbank Tower and art-deco style Messeturm.
Have a story you want to share? Email us at webtravel@reachplc.com
Los Angeles is getting another pro women’s volleyball team.
Major League Volleyball announced it will expand to L.A. in 2027, adding another team to the growing professional volleyball market.
The team will be co-owned by billionaire Dr. Patrick Soon-Shiong, who also owns the Los Angeles Times and is a minority owner of the Lakers. He will operate the team alongside Ben Priest, a former investor of MLV’s Omaha Supernovas, one of the league’s first teams.
Sportico reported the duo are paying an expansion fee around $15 million-$20 million to join the five-year-old operation.
The L.A. team will be the 11th franchise in MLV, which merged with the Pro Volleyball Federation before last season to consolidate the competition. However, League One Volleyball, known as LOVB, is still operating and has nine teams, including one joining the L.A. market in 2027.
MLV will also expand to Northern California, Minnesota and Washington D.C. in 2027.
Soon-Shiong joins a contingent of billionaire investors in MLV. Several NBA, NHL and MLS owners have ownership stakes in teams across the startup.
“From my perspective, this is really a feeling like when the Lakers started many, many decades ago,” Soon-Shiong told Sportico. “The opportunity in women’s sports is growing, and Los Angeles is obviously a very important market.”
The two volleyball leagues have vastly different models. MLV is looking to establish itself in the fabric of the pro sports markets like other leagues, while LOVB has ties to youth volleyball clubs and feeder teams.
MLV and PVF merged after sharing a similar vision and joining forces to avoid cannibalizing the market. LOVB has teams in or projected to be in six markets. MLV lost its San Diego franchise, which ceased operations after the 2026 season.
The two volleyball teams coming to L.A. will join the WNBA’s Sparks and NWSL’s Angel City FC as local pro women’s sports teams. Los Angeles also has a team in the upstart Women’s Pro Baseball League, but it will play the entire 2026 season in Springfield, Ill.
Donald Trump announced that he has requested several countries, including Qatar, Saudi Arabia, Pakistan, Egypt, Jordan, and Turkey, to join the Abraham Accords to normalize relations with Israel as part of an agreement with Iran.
U. S. President Donald Trump announced that he has requested several countries, including Qatar, Saudi Arabia, Pakistan, Egypt, Jordan, and Turkey, to join the Abraham Accords to normalize relations with Israel as part of an agreement with Iran. He stated he spoke to the leaders of these countries, as well as the United Arab Emirates and Bahrain, which have already signed the accords.
Trump expressed his wish for all these countries to immediately sign the accords and suggested that if Iran agrees to a deal with the U. S., it would be an honor to include Iran in this coalition. He mentioned the complexity of the negotiations that the U. S. has been working on and said most countries should be open to making a historic settlement with Iran.
While Trump indicated that negotiations with Iran were progressing, he didn’t provide details about a potential deal. He also noted that Egypt and Jordan already have relations with Israel, and he remains optimistic about Saudi Arabia joining the accords, although no movement from Riyadh has been observed.
From MNT-Halan to Zeepay, digital pioneers are building a high-value corridor to the Middle East.
As African fintech matures, companies that once focused on domestic markets are now increasingly seeing Dubai as a strategic base for MENA and international expansion.
Some key players are already on the move. Egypt’s fintech giant MNT-Halan recently launched in Dubai with salary-financing products, while Paymob Technologies has expanded across the United Arab Emirates, Saudi Arabia and Oman — securing a full UAE Central Bank license last year. Nigeria’s Innovate1Pay runs global operations from Dubai’s Jumeirah since 2019. Lagos-based Flutterwave, one of Africa’s first and fastest-growing fintech unicorns, will soon be the latest to set up shop in the UAE after expanding into Saudi Arabia and Bahrain in 2024.
Gulf Remittance Corridor
A key driver of this expansion is the remittance corridor between the Gulf and Africa. Researchers estimate that between 3 million and 5 million African migrants now live and work across the Gulf Cooperation Council (GCC), including large Egyptian, Sudanese, Ethiopian, Kenyan and Ugandan communities. According to the World Bank, global remittances to Africa reached $109 billion in 2024. About a third comes from the GCC, but a lot of transfers remain unrecorded in national data sets.
Currently, a lot of the money still moves around in cash, through operators such as Western Union, MoneyGram or Gulf exchange houses, where the cost for sending funds averages between 8% and 9% — among the highest in the world.
This opens a clear opportunity for lower-cost digital alternatives. A recent Visa study found nearly two-thirds of UAE residents now prefer digital apps over physical locations for sending money abroad. Key drivers include ease of use (50%), followed by safety, privacy and speed (46%). Cashless solutions are heavily encouraged by most GCC governments to increase compliance, traceability and transparency.
Kojo Amofa, Zeepay
Some companies like Zeepay, a Ghana-based payment firm that already operates in 25 countries, are gearing up to tap into that market and the recent war in the Middle East is far from deterring their motivation.
“For us, it’s a new chapter. We are eager to make an impact and become the remittance solution in the Gulf,” said Kojo Amofa, Partnerships Manager at Zeepay. “Many migrant workers want to send money home, and the current volatility creates an even more drastic need that we want to answer.”
For Zeepay, the UAE is the natural entry point. It is the MENA region’s most mature tech hub and the world’s third-largest remittance sender — sometimes described as a financial “switchboard” for Africa-bound flows. To make its first steps, the company is looking for partnerships with digital payment firms already located in Dubai or Abu Dhabi, who would be interested in trying out an African remittance corridor.
“We need to test the appetite. Rather than entering a market we are not native to, we prefer collaboration so that our services can be tried out,” said Amofa. “Once there is a significant level of interest, we can then start to explore creating a physical presence.”
Sovereign Wealth Interest
While exploring options in the GCC, the teams at Zeepay, like many African startups, are also keeping an eye open for funding opportunities.
In 2025, African Fintechs raised $1.5 billion across 150 deals, according to data from global investment platform Partech Partners. A growing number of deals involve GCC investors as sovereign wealth funds and family offices from the UAE and Saudi Arabia are increasing their exposure to African assets. In the past decade, GCC countries have invested more than $100 billion in the continent.
In 2022, Nigeria’s Moove.io — a mobility fintech that provides car loans and operates a green ride-hailing platform — raised a $30 million private credit sukuk arranged by Franklin Templeton Investments in Dubai. It later opened an office in the UAE to oversee its MENA expansion.
More recently, Kenya’s iconic fintech M-Pesa has teamed up with the UAE-based ADI Foundation to explore blockchain. The partnership gains significant weight from ADI’s parent company, IHC — a $240 billion giant chaired by the UAE president’s brother.
Future Growth Markets
For Gulf investors, the appeal is straightforward: Africa remains the fastest-growing fintech market globally, with revenues projected to rise thirteenfold to $65 billion by 2030, according to Boston Consulting Group. For now, digital payment tools still dominate, but the next phase is expected to center on small- and medium-sized enterprise (SME) finance, credit, and broader digital banking services.
In the medium-long term, a Gulf–Africa fintech corridor is taking shape, with companies scaling up and capital circulating between the two regions. In the short term, there are some regulatory bottlenecks and geopolitical challenges ahead. The war in the Middle East might slow down Gulf investments for a while as governments prioritize spending money at home.
Weekly insights and analysis on the latest developments in military technology, strategy, and foreign policy.
The Islamic Revolutionary Guard Corps (IRGC) Navy claims it has greatly expanded how it defines the Strait of Hormuz, which it has closed to most shipping since the start of the now-paused war. The move comes as that closure has wide-ranging impacts on the global economy and with U.S. President Donald Trump mulling new military actions against Tehran amid deadlocked peace negotiations and a tenuous ceasefire barely holding.
Under its new definition, the IRGC claimed a tenfold expansion “forming a complete crescent” of “about 20 to 30 miles to one now over 200 to 300 miles,” Political Deputy of IRGC Navy Mohammad Akbarzadeh said in a TV interview, according to the official Iranian FARS news agency.
“The Strait is no longer viewed as a narrow stretch around a handful of islands but instead has been greatly enlarged in scope and military significance,” Akbarzadeh noted. “In the past, the Strait of Hormuz was defined as a limited area around islands such as Hormuz and Hengam, but today this view has changed. The Strait is now defined as a strategic zone stretching from the city of Jask in the east to Siri Island in the west.”
🇮🇷 IRGC NAVY says the area it considers the ‘Strait of Hormuz’ has expanded further:
“In the past we defined it as a limited area around islands like Hormuz or Hengam. But now, it has significantly expanded – from the coasts of Jask and Siri to beyond the major islands.”
— Nader Itayim | نادر ایتیّم (@ncitayim) May 12, 2026
We asked the White House and CENTCOM for reactions to the IRGC Navy announcement. The White House dismissed it.
“During Operation Epic Fury, Iran was crushed militarily – their ballistic missiles are destroyed, their production facilities are dismantled, their navy is sunk, and their proxies are weakened. Now, they are being strangled economically by Operation Economic Fury and losing $500 million per day thanks to the United States military’s successful blockade of Iranian ports,” White House Deputy Press Secretary Anna Kelly told us. “The Iranian regime knows full well their current reality is not sustainable, and President Trump holds all the cards as negotiators work to make a deal.”
CENTCOM has not responded to our query.
The reported expansion is the second announced by Iran since the start of its conflict with the U.S. and Israel.
Both U.S. Central Command (CENTCOM) and Iran say the IRGC launched strikes against U.S. Navy warships and commercial vessels they were helping to protect during the short-lived Project Freedom on May 4. That was an effort, created by Trump, to help guide ships through the Strait that was paused after about 36 hours. CENTCOM forces responded with strikes on attacking ships. Days later, another exchange of fire took place, with CENTCOM saying it bombed Iranian targets after destroyers came under fire transiting the Strait to the Gulf of Oman.
The Arleigh Burke class guided missile destroyer USS Mason was one of three destroyers, along with the USS Truxtun USS Rafael Peralta that CENTCOM said were attacked by Iran as they transited the Strait. (CENTCOM)
The IRGC said the new definition was created in response to yesterday’s statements by President Donald Trump repeating that Iran’s Navy has been destroyed by U.S. attacks during the now-paused Operation Epic Fury.
“This very design and implementation of the new plan shows that this force is present on the scene with authority,” Akbarzadeh proffered.
As we noted yesterday, frustrated by the pace of negotiations, Trump threatened new military action against Iran ranging from resuming Project Freedom to new airstrikes against Iranian targets and perhaps even a ground incursion to retrieve Iran’s highly enriched uranium.
NEW: US President Trump says he is considering renewing “Project Freedom,” but this time around the US guiding ships through the Strait of Hormuz would be just one small piece of a larger military operation. pic.twitter.com/woM2r5zE84
The closure of the Strait is having a direct impact in the U.S., spurring Trump to consider pausing the federal gas tax as a form of relief for American consumers as energy prices soar, The Washington Post noted. The move — which requires congressional approval to pass — would mark the latest in a string of government interventions to address fallout from the war.
“Since the war began in late February, the price of a barrel of Brent crude oil, an international benchmark, has skyrocketed from about $70 to more than $107. U.S. gas prices — now an average of $4.50 a gallon — have reached levels not seen since 2022 and contributed to Trump’s falling approval ratings ahead of the November midterms,” the Post stated.
President Trump said he would reduce the 18-cent federal gas tax for a yet to be determined period as U.S. fuel prices shoot higher due to the Iran war. pic.twitter.com/gvByq7ZsHs
The impacts of the closure are even greater in Asia, which relies more heavily on oil that normally transits the Strait. For instance, Indian Prime Minister Narendra Modi asked his nation’s 1.4 billion people to spend less on fuel, fertilizer, and travel, The New York Times reported.
Modi “made these sweeping recommendations in a national address on Sunday after securing a big win for his party in recent state elections,” the newspaper added. “With that victory in hand, he no longer has to worry that voters might punish his candidates for higher prices of fuel, food and transport, which are tightly controlled by India’s government. Instead of subsidizing the losses and running huge budget deficits, India’s leader appears emboldened to ask its people to bear the burden.”
The situation is so dire that the International Energy Agency has recommended a range of measures for governments and businesses to reduce demand and mitigate the “oil shock,” CTech reported.
“Among the proposals: encouraging remote work and reducing commuting, which accounts for between 5% and 30% of vehicle use,” according to the publication. “Road transport alone represents about 45% of global oil demand. According to the agency, if the average employee worked from home three days a week, personal oil consumption could fall by as much as 20%.”
Several countries have already adopted such policies, CTech noted.
“Indonesia now requires public-sector employees to work remotely on Fridays, while Myanmar mandates remote work on Wednesdays. Pakistan and the Philippines have introduced four-day work weeks for government employees, while Sri Lanka, Peru, and Bangladesh have shortened school weeks or expanded distance learning.”
Meanwhile, the longer the Strait remains closed, the greater the impact on the global economy. Though Trump continues to insist his bottom line on ending the conflict is ensuring that Iran never gets a nuclear weapon, the Strait of Hormuz remains the most urgent flashpoint.
UPDATE: 3:50 PM EDT-
The U.S. military is considering officially re-naming the war with Iran “Operation Sledgehammer” if the current ceasefire collapses and President Donald Trump decides to re-start major combat operations, NBC News reported, citing two U.S. officials.
“The discussions about possibly replacing ‘Operation Epic Fury’ with ‘Operation Sledgehammer’ underscore how seriously the administration is considering resuming the war started on Feb. 28, and could allow Trump to argue that it restarts the 60-day clock that requires congressional authorization for war,” the network added.
Saudi Arabia “launched numerous, unpublicized strikes on Iran in retaliation for attacks carried out in the kingdom during the Middle East war,” Reuters reported, citing two Western officials briefed on the matter and two Iranian officials.
“The Saudi attacks, not previously reported, mark the first time that the kingdom is known to have directly carried out military action on Iranian soil and show it is becoming much bolder in defending itself against its main regional rival,” the outlet added.
The news about Saudi Arabian strikes on Iran comes a day after it was reported that the UAE attacked Iran as well.
Reuters reports that in addition to UAE, #SaudiArabia launched numerous, unpublicized strikes on #Iran in retaliation for attacks carried out in the kingdom during the Middle East war, two Western officials briefed on the matter and two Iranian officials said.…
During his testimony at the Senate Appropriations Committee, Joint Chiefs of Staff Chairman Gen. Dan Caine was asked how – despite the vast investment in national defense and the U.S. military – Iran can still close the Strait.
“It’s complicated,” Caine responded.
DURBIN: Could you explain to the American people why with the vast investment we’ve made in national defense and military, how Iran after they are attacked by us is still capable of stopping the traffic in the Strait of Hormuz?
Speaking to reporters before leaving for China, Trump was queried by reporters about the future of negotiations with Iran.
“We’re going to see what happens,” the president responded. “We’re only making a good deal… I believe that one way or the other, it’s going to be very good for the American people—and I think actually, very good for the Iranian people.”
.@POTUS on Iran negotiations: “We’re going to see what happens. We’re only making a good deal… I believe that one way or the other, it’s going to be very good for the American people—and I think actually, very good for the Iranian people.” pic.twitter.com/t6y8bCjpk5
— Rapid Response 47 (@RapidResponse47) May 12, 2026
Trump gave some insights into his message to his Chinese counterpart, President Xi.
“I think number one, we’re going to have a long talk about it,” the U.S. leader posited. “I think he’s been relatively good, to be honest with you. Look at the blockade. No problem. They get a lot of their oil from that area. We’ve had no problem. And he’s been a friend of mine. He’s been somebody that we get along with. And I think you’re going to see that good things are going to happen. This is going to be a very exciting trip. A lot of good things are going to happen.”
Asked the extent the average American’s finances are motivating him to make a deal with Iran, Trump dismissed the notion.
“The only thing that matters when I’m talking about Iran, they can’t have a nuclear weapon. I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing, we cannot let Iran have a nuclear weapon. That’s all.”
Trump on Iran War:
Reporter: What extent are Americans’ financial situation motivating you to make a deal?
Trump: Not even a little bit. I don’t think about Americans’ financial situation pic.twitter.com/bimWMDg30Z
— Rohitash Mahur ( Lodhi ) (@MahurRohitash) May 12, 2026
UPDATES
The war has cost U.S. taxpayers $29 billion so far, Jay Hurst, Pentagon comptroller, told lawmakers this morning. That’s up from the $25 billion estimate he provided Congress on April 30. These estimates mostly take into account the amount of munitions the U.S. has expended during Epic Fury. They do not include the cost to repair damage to U.S. military installations across the Middle East, Hurst again noted today.
That means the price tag for Epic Fury will be far higher than what Hurst told Congress.
In addition to 14 troops who have been killed so far, several media reports have pointed out that the damage to U.S. assets has been far more extensive than officially reported. Last week, for instance, a Washington Post analysis “found 217 structures and 11 pieces of equipment that were damaged or destroyed at 15 U.S. military sites in the region.”
Hurst previously said that DOD doesn’t have an estimate yet for repair costs to the extensive damage to US bases overseas, and has appeared to leave the door open to force posture changes.
Today he said: “We don’t know what our future posture is going to be, we don’t know how… https://t.co/9ATXDmn2Se
A new attack on Iran could spur the country to pursue weapons-grade enrichment of its uranium, an official in Tehran threatened on Tuesday.
“One of Iran’s options in the event of another attack could be 90% enrichment,” Ebrahim Rezaei, a member of the Iranian parliament and the spokesperson for the body’s National Security and Foreign Policy Commission, stated on X. “We will review it in the parliament.”
The 60% enrichment level is well above what is required for civilian power generation (typically between 3% and 5%), but also below the level for it to be considered highly enriched or weapons-grade (90%). At the same time, it is understood to be a relatively short step, technically speaking, to get uranium from 60% to 90% purity. As a standard metric, the IAEA says that 92.5 pounds of 60% uranium is sufficient for further enrichment into enough weapons-grade material for one nuclear bomb.
However, it is one thing to threaten to boost enrichment and another thing to actually do it. Sites that would have traditionally been used to do this are now largely destroyed. What’s left of them is heavily surveilled by the U.S. and any strong indication that such a move was taking place would likely result in a new wave of strikes from the U.S. and especially Israel.
یکی از گزینههای ایران در صورت حمله مجدد میتواند غنیسازی ۹۰ درصد باشد. در مجلس بررسی میکنیم.
“Can I say a word of appreciation, deep appreciation and admiration for the United Arab Emirates?” Huckabee said during an event in Tel Aviv on Tuesday. “I think that the UAE is an example. They were the first Abraham Accord member, but look at the benefits that they have had as a result. Israel just sent them Iron Dome batteries and personnel to help operate them. How come? Because there’s an extraordinary relationship between the UAE and Israel.”
Huckabee added that in the days after the Oct. 7, 2023 Hamas surprise attack on Israel, the UAE was the only nation maintaining flights to Israel while U.S. and European carriers stopped.
🚨 WATCH: US Ambassador to Israel Mike Huckabee officially confirms: Israel sent the United Arab Emirates an Iron Dome system and a team to operate it. This happened because there are exceptional relations between Israel and the United Arab Emirates, based on the Abraham Accords. pic.twitter.com/BgCkESt4Yl
Iran’s ambassador to the United Kingdom and permanent representative to the International Maritime Organization (IMO), Ali Mousavi, issued a formal complaint about the U.S. interdictions of Iranian oil tankers M/T Tifani and Majestic X, Iran’s official IRNA news outlet reported.
“In a letter to IMO chief Arsenio Dominguez on Monday, Mousavi referred to the dire conditions of the crew members of the two seized tankers, warning that Washington is responsible for the lives and health of the sailors caught in the situation,” the outlet claimed.
In the letter, “Mousavi stated that about 60 crew members of the two tankers, including 20 Iranian nationals, are being held on a tugboat in unsafe and unhealthy conditions, reportedly without adequate food and water to those on board.”
Mousavi called the situation “intolerable and a clear violation of the relevant rules and regulations of the IMO, stressing that any unilateral US claim has no legal justification for exposing civilian seafarers to starvation, deprivation and danger on the high seas,” IRNA noted. “He described the US behavior as illegal, reckless, inhumane and completely inconsistent with the basic standards governing the treatment of persons employed in commercial shipping.”
TWZ cannot independently verify that claim. CENTCOM declined comment.
In the wake of French Tiger attack helicopters shooting down Iranian drones attacking the UAE in March, France is now considering embarking these aircraft aboard frigates for any potential Strait of Hormuz security effort.
“The French Army’s Tiger helicopter was tested last March in the United Arab Emirates; equipped with its 30mm cannon and two pods carrying 22 rockets, it proved to be truly effective—and a powerful deterrent—against Iranian drones,” French Navy Admiral Thibault de Possesse, commander of the Charles de Gaulle carrier strike group now in the Red Sea, told the RFI media outlet.
“Recently—thanks to the efforts of the DGA [Directorate General of Armaments], as well as those of the Navy and the Army—we have certified the deployment of Tiger helicopters aboard French Navy frigates,” de Possesse explained. “Consequently, we are now capable of launching and recovering these combat helicopters—which are armed and specifically adapted for drone interception—directly from Navy frigates. They have already demonstrated their effectiveness against this type of threat in the United Arab Emirates.”
🇫🇷 NEW: France is preparing to deploy Tiger attack helicopters aboard naval frigates near the Strait of Hormuz after the aircraft proved highly effective against Iranian drones during tests in the UAE.
The Israeli Air Force intercepted a drone “launched from the east,” for the first time since the ceasefire with Iran took effect, the IDF said.
It remains unclear whether the drone was launched from Yemen or Iraq, as launches from both countries have been described in the past by the IDF as “from the east,” noted I24 reporter Ariel Oseran.
The Israeli Air Force intercepted a drone “launched from the east,” for the first time since the ceasefire with Iran took effect, the IDF said.
It remains unclear whether the drone was launched from Yemen or Iraq, as launches from both countries have been described in the past…
— Ariel Oseran أريئل أوسيران (@ariel_oseran) May 12, 2026
Soar Atlas has released new high-resolution imagery it claims shows a clear view of a clandestine airstrip Israel built in western Iraq. The existence of the airstrip was first reported by The Wall Street Journal, which stated it was set up to aid Israel’s air war on Iran in the now-paused war. The facility housed special forces and served as a logistical hub for the Israeli air force, the newspaper noted. Built with the knowledge of the U.S. just before the start of the war, it also included search-and-rescue teams positioned to assist any downed Israeli pilots.
The Soar Atlas images were taken March 8 and appear to show the airstrip constructed on a dry lake bed near al-Nukhayb in Iraq’s Anbar Desert during the opening days of the Iran war.
“The improvised runway, measuring approximately 850 meters in length, was reportedly built overnight between March 1–2, 2026,” according to Soar Atlas.
As we noted yesterday, the Iraqi military said the facility no longer exists and that investigations are underway to determine how it came to be built. We have also reported that Israel likely created similar facilities in Iraq during the 12-Day War last year and TWZ has noted that it would likely happen again in the future.
🚨Soar Atlas has made available new high-res imagery from Mar 8 to explore, with a clearer view of the secret Israeli Airstrip in Western Iraq.