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The White House Council of Economic Advisers released an analysis estimating that the United States faces a shortage of roughly 10 million homes. The report argues that easing regulatory burdens could unlock a construction surge, stabilise home prices, expand home‑ownership and accelerate overall economic growth. President Donald Trump signed two executive orders in March directing federal agencies to reduce housing‑regulation costs and to facilitate mortgage lending by smaller banks. Yet, critics note that the administration has been slow to prioritize high housing costs amid falling approval ratings tied to tariffs, the US‑Israel conflict with Iran, and unmet inflation‑reduction promises. Mortgage rates have risen from just under 6 % to 6.37 % for a 30‑year loan, further inflating the cost of home purchase. Trump has publicly defended higher home prices to protect existing owners, stating, “I don’t want to drive housing prices down… I want to drive housing prices up for people that own their homes.” The housing chapter of the annual Economic Report of the President, obtained by the Associated Press, outlines a blueprint showing how increased homebuilding could benefit the middle class and the broader economy, providing a potential political narrative for the president. According to the report, if homebuilding had continued at its pre‑2008 pace, the nation would have **10 million more houses** today. The 2008 crisis, driven by risky lending and a housing bubble, still casts a long shadow. Home prices have surged **82 % since 2000**, while median incomes have risen only **12 %**, a disparity previously softened by historically low mortgage rates. The post‑COVID inflation spike and higher rates have made affordability a top concern for voters under 40. Regulatory costs—dubbed the “bureaucrat tax”—are estimated to add **over $100,000 per new home** through updated building codes, compliance fees and zoning approvals. The report projects that trimming these costs could enable the construction of **up to 13.2 million homes**, potentially delivering an **average 1.3 percentage‑point boost to annual GDP** over the next decade and supporting **two million manufacturing and construction jobs**. One administration official, speaking on condition of anonymity, suggested that federal funding to states could be tied to regulatory reductions, creating a financial incentive for local governments. The analysis also criticises the green‑energy housing standards introduced under former President Joe Biden, which mandate more efficient HVAC systems and water‑heater requirements. Citing a 2021 National Association of Home Builders study, the report claims these standards could add **up to $31,000** to a new home’s price, with a **payback period of up to 90 years** for homeowners via lower utility bills. While rolling back such standards might lower upfront costs, the report acknowledges potential long‑term utility‑bill increases for owners. Legal challenges further complicate the picture: a Texas federal judge recently sided with 15 Republican‑led states, deeming the Biden‑era standards for federally backed housing **unlawful**. Overall, the White House’s proposal positions regulatory reform as a lever to address the housing deficit, stimulate economic growth, and generate jobs, while navigating the political and environmental trade‑offs inherent in the debate.

Hezbollah leader Naim Qassem has strongly opposed an upcoming meeting between the Lebanese government and Israel in the United States, labeling such efforts as 'futile' amid intensified Israeli attacks on Lebanon. In a televised speech on Monday, Qassem called on the Lebanese government to take 'a historic and heroic stance' by not attending the planned talks. The Lebanese and Israeli ambassadors are set to meet in Washington, DC, on Tuesday to discuss direct negotiations between the two countries. However, Qassem argued that the talks are a ploy to pressure Hezbollah into laying down its weapons, with Israeli Prime Minister Benjamin Netanyahu repeatedly stating that the goal is to disarm Hezbollah. Qassem emphasized that Hezbollah will not back down, stating, 'We will not rest, stop or surrender. Instead, we will let the battlefield speak for itself.' He also accused Israel of continuing its aggressive actions, including near-daily deadly attacks, despite a supposed ceasefire in effect since November 2024. Since Israel intensified its war on Lebanon in early March, at least 2,055 people have been killed, including 165 children and 87 medical workers, with over 6,500 wounded and around 1.2 million displaced. Qassem described the planned talks as a 'free concession' to Israel and the US, and called for a united Lebanese stance against negotiations. The speech followed protests in Beirut against the planned talks, with demonstrators accusing Lebanese Prime Minister Nawaf Salam of betraying the Lebanese people. The situation remains tense, with the Israeli military claiming to have surrounded the key southern town of Bint Jbeil, while Hezbollah continues to claim attacks against Israeli forces there.

The United States military has begun a mine clearance operation in the Strait of Hormuz, a vital waterway for global oil and gas supplies, in response to Iran's alleged laying of sea mines. The operation, led by guided missile destroyers USS Frank E Peterson and USS Michael Murphy, aims to establish a 'safe pathway' for the free flow of global commerce.Iran's Islamic Revolutionary Guard Corps (IRGC) recently released a map of the Strait of Hormuz showing a safe route for ships to follow through the strait, directing vessels farther north towards the Iranian coast and away from the traditional route closer to the coast of Oman. The IRGC stated that all vessels must use the new map for navigation due to 'the likelihood of the presence of various types of anti-ship mines in the main traffic zone.'The stakes are high, with one-fifth of the world's oil and liquefied natural gas (LNG) supplies having been shipped through the Strait of Hormuz before the war. Even a single mine can compel operators to assume a wider threat, effectively invalidating insurance and shutting down their use of the waterway.Iran's stockpile is estimated to number 2,000 to 6,000 mines, a significant portion of which are produced domestically. These mines generally fall into three categories: contact mines, bottom (influence) mines, and 'smart' and rocket mines.The US Navy is facing a 'mine gap,' with experts calling for institutional neglect that led to the retirement of dedicated mine countermeasures (MCM) assets. The current US strategy relies on small combat ships built for coastal operations and fitted with MCM mission modules, but only one of these vessels, the USS Canberra, is currently available in the region.

High-level talks between the United States and Iran ended without an agreement in Islamabad, Pakistan, on Sunday. The breakdown leaves a fragile two-week ceasefire as the only barrier between diplomacy and a return to war. Pakistan, which played a key role in bringing both sides to the negotiating table, remains committed to facilitating further dialogue.The talks, the highest-level direct engagement between Washington and Tehran since the 1979 Islamic Revolution, stalled over differences surrounding Iran's nuclear program. The US insisted on a commitment from Iran that it would not seek a nuclear weapon, while Iran's Foreign Minister, Abbas Araghchi, accused the US of 'maximalism' and shifting demands.Despite the setback, Pakistan's Deputy Prime Minister and Foreign Minister, Ishaq Dar, emphasized that Pakistan will continue to play a role in facilitating engagements and dialogue between the two nations. Iranian officials, including Parliament Speaker Mohammad Bagher Ghalibaf, also expressed optimism about the potential for future talks.The immediate threat to the ceasefire comes from the evolving situation in the Strait of Hormuz and Lebanon. Iran has warned that continued Israeli strikes on Lebanon could render negotiations meaningless, while the US has announced a blockade in the Strait of Hormuz, which Iran controls and uses as a key negotiating lever.Analysts say Pakistan's role is crucial in preventing a prolonged conflict, but its economic fragility and limited leverage constrain its ability to impose outcomes. Pakistan's Prime Minister, Shehbaz Sharif, and Chief of Army Staff, Field Marshal Asim Munir, have been praised by both Trump and Iranian officials for their efforts to secure the ceasefire and host the talks in Islamabad.

An Israeli air attack targeted a group of men gathered outside a school in Deir el-Balah, central Gaza, killing at least three people. The incident occurred as Israeli forces arrested at least 30 Palestinians in raids across several cities and towns in the occupied West Bank.Medics at Al-Aqsa Hospital reported the killings, with the bodies of the victims laid out in white shrouds outside the hospital's morgue. Relatives and friends gathered to bid farewell, with some kissing the victims' foreheads before holding special prayers.The Israeli military did not immediately comment on the airstrike. The killings took place as mediators met with leaders from the Palestinian group Hamas to bolster a fragile ceasefire brokered by the United States, which began last October.The ceasefire has been marred by violence, with over 750 Palestinians killed since it took effect. Hamas fighters have killed four Israeli soldiers, and both sides have traded blame for violations.Israeli forces have also been accused of moving yellow concrete markers westwards in Gaza, which Palestinians say is an attempt to expand a depopulated zone. Israel denies this.In the West Bank, the Palestinian Prisoners Media Office reported that two children and some freed detainees were among those arrested in the raids. The military operations included searches of homes and property damage.The conflict has resulted in significant casualties, with over 72,000 Palestinians killed in Israel's war on Gaza, which began in October 2023. In the occupied West Bank, at least 1,133 Palestinians have been killed, 11,700 others wounded, and nearly 22,000 arrested.The International Court of Justice has declared Israel's occupation of Palestinian territory illegal and called for the evacuation of all settlements in the West Bank and East Jerusalem.

The United States, led by President Donald Trump, has announced its intention to blockade the Strait of Hormuz, a vital chokepoint for global energy supplies, in a significant escalation of tensions with Iran. This move comes after talks between Washington and Tehran in Islamabad failed to yield an agreement.In a social media post, Trump stated that the US Navy would begin the process of blockading any and all ships attempting to enter or leave the Strait of Hormuz. The blockade, which commenced at 10am Washington, DC, time (14:00 GMT) on Monday, has sparked concerns about the status of the two-week ceasefire between the US and Iran announced last week.Analysts view Trump’s threat as a substantial escalation in the war on Iran. Chris Featherstone, a political scientist at the University of York, noted that Trump is using the blockade as a tool in negotiations with Iran, aiming to pressure the country to comply with US goals.The blockade could have far-reaching implications for global energy markets, as the Strait of Hormuz is a critical passage for 20 percent of the world’s oil and liquefied natural gas (LNG) supplies. Iran has allowed ships from certain countries to pass through the strait during the conflict, but a blockade could disrupt these supplies.Jason Chuah, professor of maritime law at City St George’s, University of London, described the US actions as “sanctions with warships doing the bidding of President Trump,” rather than a classic blockade. He raised concerns about the legality of such actions under international maritime law, noting that the US is not a party to the United Nations Convention on the Law of the Sea.The international community remains divided on the issue, with the United Kingdom stating it will not support the blockade and China urging calm. The blockade’s impact on Iranian mines in the strait and shipping operations remains uncertain, with potential consequences for global energy security and the economy.

The United States has imposed a naval blockade on Iranian ports, escalating tensions between the two countries. The blockade, announced by President Donald Trump, aims to restrict Iran's access to international trade and oil exports.Iran's Ministry of Foreign Affairs spokesperson, Esmaeil Baghaei, criticized the move, stating that it would only harm the international economy. "Can an illegal 'war of choice' be won through a 'revenge of choice' against the global economy?!" he posted on social media.Trump warned Iranian military ships against approaching the blockade zone, stating that they would be "immediately ELIMINATED" if they came close. The blockade, which came into effect on Monday, risks setting the stage for a major escalation that could fray a two-week ceasefire between the two countries.The United Kingdom Maritime Trade Operations (UKMTO) centre announced that the US blockade would apply "without distinction" to ships engaging with Iranian ports and oil terminals. The restrictions encompass the entirety of the Iranian coastline, including the ports and energy infrastructure.Iranian officials have accused the US of violating the truce by allowing Israel to continue to bomb and conduct a ground invasion in Lebanon. Pakistan, which mediated the ceasefire, had said all regional fronts – including Lebanon – were part of the deal.While Trump's move to blockade Iran's ports could hamper the already ailing Iranian economy, it is unlikely to loosen the Iranian grip on Hormuz or bring down energy prices. The average price of one gallon of petrol in the US is now more than $4.12, up from less than $3 before the war began.Iran has promised to defend its territorial waters, saying the naval siege amounts to "piracy". The Islamic Revolutionary Guard Corps (IRG) also warned that if fighting were to resume, Iran would introduce new capabilities to the battlefield.

Peter Magyar, the leader of the Tisza party, announced a comprehensive reform agenda hours after his coalition was declared the winner of Hungary’s parliamentary election, ending Viktor Orban’s 16‑year rule. He emphasized that his government will work to restore the rule of law, plural democracy and a system of checks and balances that he says were eroded under the previous administration.At a news conference, Magyar detailed plans for a new anti‑corruption office and a separate body to oversee government spending, aiming to curb the graft that plagued the former regime. He also announced a constitutional amendment that will limit future prime ministers to two terms, a direct response to Orban’s repeated changes to the constitution designed to extend his hold on power.Regarding foreign policy, Magyar pledged that Hungary will remain a committed member of both the EU and NATO, describing these alliances as essential guarantees of peace. He vowed to phase out dependence on Russian oil and gas by 2035 and to pursue a cooperative, rather than confrontational, dialogue with Brussels.The new government is expected to unlock roughly €18 billion in EU funding, and Magyar highlighted that the parliamentary shift could also release a €90‑billion loan package for Ukraine that Orban had blocked a month earlier.Magyar’s position on Ukraine is nuanced. He called the country “the victim in the war” and said he would press President Vladimir Putin to end hostilities, yet he maintained that “fast‑tracking Ukraine’s EU accession is completely out of the question while the war continues.” He added that the restoration of ethnic Hungarian minority rights in Ukraine would be a precondition for deeper ties.On trans‑Atlantic relations, Magyar affirmed that the United States remains “a very important partner” and expressed a desire for “good relations” with the Trump administration, noting the recent visit of U.S. Vice President JD Vance to Budapest.Domestically, Magyar called on President Tamas Sulyok to expedite the transfer of power and urged the president to resign, reminding readers that the president must convene a new parliament within 30 days, after which lawmakers will elect the new prime minister.

A French court has convicted cement giant Lafarge of financing terrorism through its Syrian subsidiary, fining the company €1.12 million ($1.32m) and confiscating €30 million ($35.1m) worth of its assets. The court also sentenced former CEO Bruno Lafont to six years in jail.The Paris court ruled that Lafarge had paid protection money directly to ISIL (ISIS) and other armed groups, breaching European sanctions to operate in northern Syria during the country's civil war in 2013-2014. The company paid a total of €5.59 million ($6.55m) to armed groups in Syria, including to ISIL and the al-Nusra Front.The court found that Lafarge's payments helped to strengthen groups that carried out deadly attacks in Syria and beyond. The company's former deputy managing director, Christian Herrault, was sentenced to five years in jail, while other former employees received fines and sentences ranging from one to seven years.The case marks the first time a company has been tried in France for financing terrorism. Lafarge, now part of Swiss building materials conglomerate Holcim, acknowledged paying nearly €13 million ($15.2m) to middlemen to keep its Syrian cement factory running during the war. The company claimed it bore no responsibility for the money winding up in the hands of armed groups.In a separate case in the United States, Lafarge admitted to paying $6m to ISIL and the al-Nusra Front to allow employees, customers, and suppliers to pass through checkpoints. The company paid $778m in forfeiture and fines as part of a plea agreement.