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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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A New Chapter Begins: Prince Rahim Al-Hussaini Ascends as Aga Khan V

 


Prince Rahim Al-Hussaini has been designated the 50th hereditary Imam of the Nizari Ismaili Muslims, marking a historic transition for the community of approximately 12–15 million followers worldwide. Following the unsealing of the late Prince Karim Aga Khan IV’s will after his passing at age 88 in Lisbon, Rahim—now Aga Khan V—steps into his father’s formidable legacy of spiritual leadership and global development.

Born on October 12, 1971, in Geneva, Switzerland, Rahim was educated in the United States, graduating from Brown University with a degree in comparative literature before furthering his studies in management and administration in Barcelona. His longstanding involvement with the Aga Khan Development Network (AKDN) has seen him serve on multiple boards and chair the Environment and Climate Committee. This role underlines his commitment to addressing pressing challenges such as climate change and poverty alleviation, priorities that were central to his father’s philanthropic vision.

As the community embarks on this new era, followers and leaders alike anticipate that Prince Rahim’s leadership will continue the 1,400-year tradition of a living Imam—a figure both revered for his spiritual guidance and entrusted with significant social and economic responsibilities. Global leaders and institutions have already expressed their condolences and confidence in the new Imam’s ability to uphold the values of peace, compassion, and sustainable development.

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