Amid a month-long fragile ceasefire, the United States and Iran launched major attacks against each other on Thursday. The confrontation occurred while both sides were negotiating an agreement to reopen the Strait of Hormuz and lift naval blockades. According to the US Central Command, Iran targeted three American destroyers with missiles, drones, and small boats. In response, US forces struck Iranian missile and drone launch sites, command centers, and intelligence facilities. Iran blamed the United States for initiating the clash, claiming that US forces had fired on an Iranian oil tanker near the Strait a day earlier, violating the ceasefire. President Donald Trump stated that the destroyers suffered no damage and warned Iran of harsher retaliation if it refused to sign an agreement. Iranian media reported explosions in Qeshm Island, Bandar Abbas, and Tehran following the strikes. Officials from both countries are discussing a 30-day truce proposal to end hostilities and lift the blockade, but disagreements over Iran’s nuclear program and uranium stockpiles remain major obstacles. The conflict has disrupted global oil supplies and caused a sharp rise in prices.

The US Court of International Trade has ruled against former President Donald Trump’s recently imposed 10 percent global tariff. The court stated that such a universal tariff was not justified under a trade law from the 1970s. The ruling came on Thursday in favor of small businesses that had filed the case, challenging the tariff that took effect on February 24. According to the plaintiffs, the new tariff attempted to bypass a previous Supreme Court decision that had struck down Trump’s 2025 tariffs imposed under the International Emergency Economic Powers Act. In his February order, Trump invoked Section 122 of the 1974 Trade Act, which allows temporary tariffs of up to 150 days to address severe trade imbalances or prevent a sharp dollar devaluation. The court found that the trade deficits cited in Trump’s order did not justify the use of this law, concluding that the measure was not an appropriate response under the statute.

US President Donald Trump stated that the ceasefire between the United States and Iran remains in effect, even after both sides exchanged attacks late Thursday night. The sequence of events remains unclear, with no confirmation on which side initiated the strikes. Iran’s top military command accused the US of targeting an Iranian oil tanker and another vessel near the Strait of Hormuz, along with airstrikes on several coastal areas. The US, however, said its forces carried out ‘defensive strikes’ in response to an Iranian attack on a guided-missile destroyer in the strait. Trump remarked that Iran had ‘gone too far today.’ The escalation came a day after Iran’s foreign ministry said it was considering a US proposal to end the conflict. Iranian state media initially reported explosions in the Hormuz Strait, describing them as clashes with an ‘enemy,’ and local outlets reported hearing blasts in Tehran. Iran’s military later claimed that US airstrikes targeted coastal areas near Bandar Khamir, Sirik, and Qeshm Island, and that Iranian forces retaliated by damaging a US warship while accusing Washington of violating the ceasefire.

In Tamil Nadu, actor-turned-politician Vijay has urged Governor R.N. Ravi to allow his party, Tamilaga Vettri Kazhagam (TVK), to form the government after emerging as the single largest party in the state assembly elections. However, the governor has not given any assurance. Vijay warned that if TVK is not invited to form the government, all 107 of his party’s elected legislators will resign. The 234-member Tamil Nadu assembly requires 118 seats for a majority, but no party or alliance has reached that mark. TVK won 108 seats, though Vijay’s dual victories reduce the party’s legislative strength to 107. The DMK-Congress-Left alliance secured 74 seats, while the AIADMK-BJP alliance won 53. Outgoing Chief Minister M.K. Stalin lost his seat, and the Congress has already declared support for Vijay. Governor Ravi has stated that he will not invite TVK to form the government without written support from 118 legislators. Political speculation has grown that the DMK and AIADMK could unite to block Vijay’s path to power, leaving the state’s government formation uncertain.

India’s Home Minister Amit Shah is scheduled to meet the 207 winning Bharatiya Janata Party (BJP) candidates in West Bengal on Friday to select the state’s next chief minister. The meeting will determine who will lead the new government, which is set to take oath on Saturday at the Brigade Parade Ground in Kolkata. The BJP has not yet clarified who will be chosen as chief minister, and speculation continues within the party. Some believe that Suvendu Adhikari, who twice defeated Mamata Banerjee in elections, could be named for the post. The meeting will also be attended by state BJP president Shamik Bhattacharya, Union Minister of State Sukanta Majumdar, BJP central observer Sunil Bansal, and state general secretary Amitabh Chakraborty. After consulting the elected members, the party will decide its legislative leader, who will become the next chief minister. According to reports, the selected leader will visit the Raj Bhavan in the evening with the newly elected legislators to seek the governor’s approval to form the government, completing the process before the swearing-in ceremony on Saturday.

The government of Bangladesh has initiated a process to increase electricity prices at both wholesale and retail levels, with implementation expected in June 2026. Power generation and distribution companies have submitted proposals to the Bangladesh Energy Regulatory Commission (BERC), suggesting a 17–21 percent rise in wholesale tariffs and a 14–18 percent increase for consumers. Public hearings on the proposals will be held on May 20 and 21 at the Krishibid Institute in Dhaka. Distribution companies aim to apply the new rates from early June, pending final approval. According to the Power Division, the current production cost per unit exceeds 12 taka, while the average selling price is just over 7 taka, resulting in a loss of about 5 taka per unit. Despite subsidies of 38,637 crore taka in fiscal year 2024–25, the sector still incurred a loss of 17,021 crore taka. The government seeks to reduce subsidies by 10,000 to 16,000 crore taka through the price adjustment. Energy experts have criticized the move, blaming past mismanagement and corruption for the sector’s financial crisis. The Power Development Board also proposed revising consumer slabs to protect low-income users and encourage energy savings among middle-income households.

India’s National Crime Records Bureau (NCRB) has reported that 3,091 Bangladeshi nationals were arrested across the country in 2024 on various criminal charges. The data, published in the NCRB’s latest report, highlights that foreign nationals were most frequently implicated in crimes in the state of West Bengal, where 992 cases were filed against foreigners during the same year. According to the report, after Bangladeshi nationals, Nigerians accounted for the second-highest number of foreign arrests, with 509 individuals detained in 2024. They were followed by 476 Nepalese and 245 Myanmar citizens. In total, 4,794 foreign nationals were arrested in India that year, including 944 women and 11 individuals identified as third gender. The NCRB report underscores that Bangladeshi citizens made up the majority of foreign detainees in India during 2024, reflecting ongoing cross-border law enforcement challenges between India and its neighboring countries.

Germany’s top political leadership and intelligence agencies are at odds over how to address potential Iran-backed attacks within the country. According to a New York Times report, Chancellor Friedrich Merz and Interior Minister Alexander Dobrindt have acknowledged the threat but described it as theoretical or speculative. In contrast, regional intelligence chiefs consider the threat specific and urgent, warning that public awareness remains low due to political hesitation. European intelligence services have reportedly identified at least 50 plots targeting Jewish and Israeli institutions and critics of the Iranian government in Germany. Investigators are examining possible Iranian proxy involvement in a recent attack on an Israeli restaurant in Munich, claimed by a group called Harakat Ashab al-Yamin al-Islamia, which allegedly has financial ties to Tehran. The same group has claimed similar attacks in other European countries. Germany’s Interior Ministry confirmed ongoing investigations into Iranian activities, while the Chancellor’s Office declined to discuss specific threats or targets publicly.

A major dispute over proportional representation (PR) has become the central obstacle in Bangladesh’s ongoing constitutional reform process. Since the start of the 13th Parliament, the ruling and opposition parties have remained sharply divided on implementing the July Charter and the referendum verdict. The disagreement intensified after the February 12 election, with opposition members accusing the government of delaying or undermining the reform agenda. The government’s position on the July Charter’s full implementation has created further uncertainty, prompting Jamaat-e-Islami and an 11-party alliance to strengthen their protest programs. According to the July Charter’s Article 18, the proposed upper house would be formed through proportional representation based on votes received in the lower house election. While 24 parties, including Jamaat and BNP, signed the charter, seven parties expressed dissent, arguing that the upper house should reflect seat proportions instead. The ruling BNP’s refusal to take the constitutional reform council oath and its proposal for a special amendment committee have deepened mistrust. Opposition leaders accuse the government of political maneuvering and demand full implementation of the referendum’s mandate. The dispute over PR and the July Charter’s interpretation has stalled progress, leaving the timeline and mechanism for constitutional reform uncertain.

Republican Congressman Tom Barrett from Michigan has introduced a bill in the US House of Representatives seeking to restrict and eventually end ongoing American military operations in Iran. The bill, presented last Thursday, authorizes limited military actions only until July 30 and imposes strict conditions on their scope. It effectively challenges President Donald Trump’s earlier claim that the 'Iran war is over.' Barrett, a former military officer, said the proposal aims to uphold Congress’s constitutional authority and ensure transparency in the conflict. The bill prohibits any large-scale ground operations in Iran, allowing force only to destroy nuclear facilities, counter imminent threats to US forces, maintain naval blockades at ports, and secure navigation in the Strait of Hormuz. Barrett emphasized that while the president holds command authority, Congress must define the war’s objectives and timeline. Despite Trump’s assertion that the conflict ended with an April 7 ceasefire, thousands of US troops remain deployed in the region, and recent skirmishes have occurred. Alaska Senator Lisa Murkowski has also announced plans to draft a similar measure, reflecting growing unease among Republicans over the prolonged military engagement in Iran.

Iran has introduced a new policy to tighten control over the Strait of Hormuz, one of the world’s most critical maritime routes. Under the ‘Vessel Information Declaration’ system, every ship passing through the strait must now obtain clearance from the newly formed Persian Gulf Strait Authority (PGSA). According to a document obtained by CNN, vessels are required to complete a form answering 42 questions, including details about ownership, crew nationality, and cargo. The PGSA stated that approvals will be issued via email upon verification of accurate information, while applicants will bear responsibility for any errors. Iran’s Supreme Leader Mojtaba Khamenei said on his Telegram account that the move aligns with the “Strong Iran” strategy, emphasizing that foreign powers have no place in the region. He urged the use of the Strait of Hormuz as a strategic tool to shape a new regional and global order. The policy has already affected global energy markets, with oil prices in the United States reaching a four-year high. Lloyd’s List reported that ship traffic through the strait dropped from an average of 120 vessels per day before the conflict to only 40 in the week ending May 3. Analysts suggest Iran may impose tolls of up to $2 million per ship, though the U.S. Treasury has warned that any American entity paying such tolls would violate sanctions.

The United States has reached a concerning milestone as its national debt has exceeded the size of its total economic output. Preliminary estimates released last week show that the country’s debt now stands at 31.26 trillion dollars, slightly higher than its GDP of 31.21 trillion dollars for the twelve months ending in March. This marks the first time since World War II and the COVID-19 pandemic that such an imbalance has occurred. Economists have warned that the situation could push the US toward a major financial crisis if debt continues to grow faster than the economy. They argue that rising debt will make it increasingly difficult for the government to meet interest payments. Analysts also point to President Trump’s tax cuts and plans for higher military spending as factors that could worsen the fiscal strain. According to the Congressional Budget Office, US debt could reach 120 percent of GDP by 2036, posing a significant threat to the global dominance of the dollar. The White House, however, maintains that measures are being taken to reduce wasteful spending and control expenditures.

Global oil prices rose sharply on Friday following renewed military tensions between the United States and Iran. In early trading in the US market, crude prices increased by up to 3 percent. The latest international market data showed West Texas Intermediate (WTI) crude climbing 2.58 percent, or 2.45 dollars, to reach 97.26 dollars per barrel. The price surge came after reports of clashes between US and Iranian forces in the strategic Hormuz Strait on Thursday. Iran accused the United States of violating a ceasefire by attacking two of its ships and later bombing civilian areas along its coast. The incident triggered immediate volatility in the global energy market. Market analysts warned that continued instability in the Hormuz Strait, a key maritime route for global oil transport, could disrupt energy supplies and push prices even higher if tensions persist.

Explosions were reported in Tehran late Thursday night as Iran’s air defense systems were activated amid a fragile ceasefire. The state news agency IRNA confirmed two powerful blasts in the capital, while Reuters and Al Jazeera reported major attacks in southern Iran. The governor of Minab confirmed an assault on a naval base, and explosions were also heard in Bandar Abbas. Iran’s joint military headquarters said strikes occurred in Bandar Khamir and Sirik, damaging two Iranian ships, including an oil tanker. In response, Iran’s elite Revolutionary Guard Corps (IRGC) claimed to have launched retaliatory attacks targeting three US destroyers. Although Iranian sources described the situation as “normal,” concerns are rising over how long tensions can be contained. Earlier, US President Donald Trump stated that American destroyers had successfully intercepted Iranian drones and missiles in the Strait of Hormuz, while Iran asserted that US vessels sustained damage. The escalating exchanges in the Persian Gulf have raised fears of a wider conflict in the Middle East, with regional observers closely monitoring developments.

The United States Central Command (CENTCOM) stated that recent attacks on Iran-backed forces were entirely self-defensive actions. In a statement issued from its headquarters in Tampa, Florida, CENTCOM said the measures were taken to protect US interests amid rising tensions in the Strait of Hormuz. The command’s position aligns with recent remarks from senior Washington officials. US Secretary of State Marco Rubio said earlier this week that the United States would take necessary steps in the interest of self-defense. The US President also echoed this stance on the social media platform Truth Social, asserting that American forces were performing their duties successfully in the Strait of Hormuz. He blamed Iran for the escalating situation and said the US was compelled to respond to protect its interests. Disagreement has emerged between the two countries over the extent of damage from the clashes. Iran claimed that a US ship was damaged, but Washington denied the allegation, stating that no American vessel had been harmed.