Iran-US Economic War: Iran denounced fresh U.S. sanctions as “economic terrorism” and vowed a “devastating” response, as Washington ramps up threats of an “Economic D-Day” and says the toughest penalties in history aim to force Tehran to change course on the Strait of Hormuz. Diplomacy vs pressure: China rejected the U.S. call for allies to join the sanctions push, arguing it violates international law and won’t solve the war. Regional fallout: A former Iranian ambassador said Washington is trying to disrupt Iran’s ties via unverified “false flag” claims, while Iran also moved to deepen trade with Oman under a preferential deal. Markets & energy: Oil steadied but was set for a second weekly rise amid Gulf export concerns tied to the sanctions threat. Global business links: Finland and India highlighted circular-economy and resource-efficiency cooperation at ICEF2026, while Indonesia targets an EU CEPA signing in October to protect tariff access as GSP expires. Africa connectivity: Ahead of an Africa open-skies push, officials warned that high costs, limited direct routes, and strict visas still block easier travel across the continent. Housing slowdown: U.S. housing starts fell sharply in July as mortgage rates stayed near multi-month highs, with analysts pointing to higher rates and the Iran conflict as risks.