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Pakistan Leads Regional Push to Reopen Hormuz Amid Iran Conflict

Foreign Ministers Badr Abdelatty of Egypt, Prince Faisal bin Farhan Al Saud of Saudi Arabia, Ishaq Dar of Pakistan and Hakan Fidan of Turkey meet to discuss regional de-escalation. Pakistan has emerged as a central diplomatic hub as it hosts foreign ministers from Turkey, Egypt, and Saudi Arabia for high‑stakes talks aimed at easing the Iran conflict and reopening the vital Strait of Hormuz. Regional Diplomacy Intensifies in Islamabad Pakistan convened the meeting in Islamabad as part of its effort to broker an end to the Iran war and stabilize global energy routes. The discussions focused heavily on proposals to reopen the Strait of Hormuz—one of the world’s most critical maritime corridors for oil and LNG shipments.  Key Points Foreign ministers from Turkey, Egypt, and Saudi Arabia arrived in Islamabad for the talks. Proposals were floated to Washington to restore shipping through Hormuz, including ideas modeled on Suez Canal–style fee structures.  A potential...
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US holiday retail sales grow 3.1%, down from prior year -Mastercard



US retail sales rose 3.1% between Nov. 1 and Dec. 24, rounding up a majority of the holiday sales for retailers, as shoppers looked for last-minute Christmas deals amid big promotions, a Mastercard report showed on Tuesday.

The increase is lower than the 3.7% growth Mastercard forecast in September, and has slumped from last year’s 7.6% as higher interest rates and inflation pressured consumer spending. Sales in the apparel and restaurant categories rose 2.4% and 7.8%, respectively, during the holiday shopping period, according to the Mastercard Spending Pulse report, while sales of electronics fell 0.4%.

Ecommerce sales grew at a slower pace of 6.3% from last year’s 10.6% as the popularity of online shopping came off pandemic highs, the report showed.

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