Jul 28, 2026, 08:30 PM UTC

Oman has secured support from neighboring Gulf states for a compromise plan to resolve tensions surrounding the Strait of Hormuz, according to regional sources. The proposal seeks to prevent Iran from exerting sole control over the strategic waterway by introducing voluntary navigation fees.

However, regional stability remains precarious. Yemen’s Houthi militia claimed responsibility for attacking a Saudi oil tanker, the NCC Ghazal, in the Red Sea after issuing a naval blockade against Saudi shipping, complicating Oman’s efforts to mediate between Riyadh and the Houthis.

Concurrently, Israeli Defense Minister Israel Katz warned that Iran could launch attacks against Israel "in an hour", despite Israel remaining outside direct hostilities between Washington and Tehran.

Sources: Der Standard, ORF

Apple's market capitalization surpassed $5 trillion for the first time during US trading, driven by a record share price of $342.89. The stock rose nearly two percent intraday before settling slightly below the threshold.

The surge makes Apple the second company after semiconductor manufacturer Nvidia to achieve a $5 trillion valuation. Strong demand for the new iPhone 17 series has significantly boosted performance, helping the tech giant expand its market share in the premium smartphone sector.

Apple stock has gained approximately 24 percent since the start of the year and nearly 60 percent over the past 12 months.

Sources: La Stampa, ORF.

Austrian fiber manufacturer Lenzing has announced a major restructuring plan that will eliminate approximately 2,000 jobs globally by the end of 2027. The expanded cost-cutting measures follow a previous reduction of up to 600 administrative positions announced over the past year.

The company's facility in Heiligenkreuz, located in southern Burgenland, is among the locations most heavily affected. The prospective closure of the site directly threatens 285 jobs, alongside secondary impacts on local suppliers and regional businesses, unless a new investor is secured. The downsizing highlights broader financial pressures and structural shifts currently impacting Austrian industrial manufacturers.

Sources: Der Standard

The US president met with Ukrainian President Volodymyr Zelensky ahead of a planned meeting with Israeli Prime Minister Benjamin Netanyahu. Zelensky confirmed discussions focused on diplomatic strategies and the supply of Patriot air defense systems, expressing gratitude for ongoing American support.

The meeting coincided with high-level diplomatic engagements in Manila, where Russian Foreign Minister Sergei Lavrov met with US official Marco Rubio. During their talks regarding the conflict, Lavrov urged Washington to cease weapons deliveries to Kyiv. Concurrently, officials in Washington are assessing new economic sanctions against Russia.

Domestically, Ukraine faces political turmoil as public demonstrations in Kyiv entered their tenth day following the dismissal of Defense Minister Mykhailo Fedorov. Meanwhile, Ukrainian military operations continue against targets in the region.

Sources: Corriere della Sera.

German Chancellor Friedrich Merz called for substantial cuts to the European Commission's draft budget during a joint press conference in Dublin with Irish Prime Minister Micheál Martin. Merz rejected the proposed budget expansion, arguing that significantly increasing EU spending is unacceptable while member states work to consolidate national finances, stating that "the figures are not balanced."

During the same press conference, Prime Minister Martin emphasized the necessity of maintaining firm European assistance for Ukraine in the face of Russia's invasion. Martin stated that Ukrainians "deserve our unwavering support, as well as our commitment to helping them achieve a just peace."

Sources: Укрінформ.