US-Iran talks in Switzerland: US Vice President JD Vance arrived in Buergenstock to kick off 60-day negotiations aimed at ending the war and easing nuclear and Lebanon issues, but Iran says it has closed the Strait of Hormuz while the US says commercial traffic continues—keeping energy and consumer-cost worries front and center. Hormuz shipping & prices: Multiple tankers entered the strait as markets watched for supply normalization; analysts warn depleted reserves could make any future disruption hit harder. Consumer hit in Pakistan: Pakistan’s mango exports could drop at least 30% this season as Gulf demand softens and shipping costs rise, while inflation-weary households buy less. Jordan inflation contained: Jordan kept inflation well below the global average from 2021-2025, helped by subsidies and central bank policy—an outlier amid regional shocks. UAE retail/real estate growth: Abu Dhabi’s Al Maryah Island expansion plan (mixed-use offices, homes, retail) and a major AI infrastructure campus signal more demand for consumer-facing services and tech talent. Defense-to-consumer spillovers: Israel’s UVision Air is preparing a Nasdaq IPO for suicide drones, underscoring how defense spending and supply chains can ripple into broader markets. Local living costs: Northern Ireland home heating oil prices fell to the lowest since the Iran war began, offering a rare relief for households.