Iran to join BRICS development bank, says governor
Iran will soon join the New Development Bank, the BRICS development lender, according to central bank governor Abdolnaser Hemmati.
Mr Hemmati made the claim in a state media report published on Wednesday ahead of a BRICS finance meeting in India.
Tehran, which is under international sanctions and has yet to reach a peace deal to end the current conflict with the US and Israel, has sought alternative financial channels outside the dollar system.
It joined BRICS in 2024 as the group expanded, in a move aimed at deepening economic ties among emerging economies, and it has since made clear its desire to become a member and shareholder of the NDB.
The bank was fitst set up by Brazil, Russia, India, China and South Africa in 2015 to finance infrastructure and sustainable development projects. It has since expanded its membership to include the United Arab Emirates, Egypt and other emerging economies.
Alex Croft12 August 2026 10:28
Watch: Trump demands compensation from Iran in snub to six-point ultimatumTrump demands compensation from Iran in snub to six-point ultimatum
Alex Croft12 August 2026 09:45
Number of vessels passing through Strait of Hormuz drops to one-week low
The number of vessels passing through the Strait of Hormuz dropped to a one-week low of eight on Tuesday, according to the latest shipping data.
Ship owners continue to avoid the waterway, through which 130 to 140 ships typically transited each day before the US-Israeli war was launched on 28 February, as hostilities continue in the Middle East.
Tuesday’s tally dropped below 10-day average of 12, for the lowest daily count since August 5, Kpler data showed.
Just one of the ships exited the strait, with the rest still making their way through at the time of reporting.
The seven entering all took the Iranian route.
Separate LSEG data showed 11 transits on Tuesday, down from 14 the prior day.
Alex Croft12 August 2026 09:23
Oil prices climb above $89 a barrel
The price of Brent crude has climbed 0.8 per cent to $89.57 a barrel, following fresh attacks on shipping in the Middle East as hopes fade for a resolution to the Iran conflict.
The US and Yemen’s Iran-aligned Houthis both reported attacks on shipping.
Tehran said the Strait of Hormuz would remain closed unless Washington accepted Iran’s conditions.
The six-month-old conflict showed no signs of ending soon, despite repeated claims by U.S. President Donald Trump that a deal was imminent.
Markets have swung between optimism and disappointment since the war began, as investors tried to gauge the risk of a broader disruption to energy supplies and global trade.
(Getty)
Alex Croft12 August 2026 09:03
Just 29% of expected midterm voters say they approve of Trump’s handling of Iran
A cable TV polling expert claims that numbers from two surveys conducted two years apart show just how deeply President Donald Trump has disappointed America’s voters when it comes to Iran.
CNN chief data analyst Harry Enten said Tuesday that a July 2024 poll of people who were extremely motivated to vote in that year’s presidential election found that 53 percent were confident Trump would be able to handle the situation in Iran, according to a video clip posted online.
But a July poll of people extremely motivated to vote in November’s midterm elections shows that just 29 percent now approve of how Trump is actually handling Iran, Enten said.
“We’re talking about a 24-point fall in just two years,” he said. “What was an advantage for President Trump going into the 2024 election amongst those who really wanted to turn out and vote has turned into a tremendous disadvantage this time around.”
Alex Croft12 August 2026 08:30
Iranian-backed Houthis kill 6 in attack on vessel
At least six people were killed by Iran-backed Houthi rebels attacking a vessel in the Bab el-Mandeb Strait, the Yemeni authorities said.
Yemen’s coast guard said the dead included four crew members and two members of the government-allied National Resistance Forces.
Houthis fired three ballistic missiles at the Yemeni commercial vessel, according to Yemen’s internationally recognised government.
They are the first known deaths from Houthi attacks on shipping off Yemen in the latest bout of fighting in the Arab country.
Alex Croft12 August 2026 08:10
Drones hit Iranian Kurdish opposition camps
Four drones hit three Iranian Kurdish opposition camps near Erbil in Iraq this morning, with no casualties reported, security sources told Reuters.
Alisha Rahaman Sarkar12 August 2026 07:45
Pakistan says three sailors killed in Red Sea attack
At least three Pakistani nationals were killed in an attack on a ship in the Red Sea, the foreign ministry said.
“Pakistan strongly condemns the Houthi attack on a non-combatant commercial vessel,” the foreign minister said on X.
The alleged attack comes as Iran-backed Houthis have been accused of increasing attacks on vessels near the waters of Yemen.
Alisha Rahaman Sarkar12 August 2026 07:33
Supporters of Iranian government gather in Tehran
Iranian pro-government demonstrators wave flags in a gathering at a square in Tehran, Iran, (AP)
Iranian pro-government demonstrators attend a gathering at a square in Tehran (AP)
Alisha Rahaman Sarkar12 August 2026 07:15
Syria says IAEA will announce ‘significant progress’ on nuclear file
Syria will host a delegation from the International Atomic Energy Agency in the coming days to announce “significant progress” on the issue of nuclear materials, Syria’s Atomic Energy Commission said.
Since the ouster of president Bashar al-Assad in late 2024, Syria’s new authorities have committed to working with the United Nations’ nuclear watchdog to address the legacy of nuclear activities during decades of Assad family rule
Alisha Rahaman Sarkar12 August 2026 07:00