[QUICKREADS]
Labor Party leader Anthony Albanese, who will be sworn in as Australia's 31st prime minister on Monday, after his party won Saturday's federal elections, will, soon after Albanese's swearing-in, leave for Tokyo, Japan, to attend a summit of the Quad group of nations. However, Albanese will not be the only Labor leader to take oath of allegiance on the day; four other party MPs will also be sworn-in.
Heavy rains caused flooding in the UAE, with vehicles abandoned on highways in Dubai. In Oman, the death toll from heavy flooding rose to 18. Dubai International Airport flights were disrupted, and schools closed as emergency personnel worked to clear flooded streets. Oman mourns the loss of schoolchildren swept away in a vehicle. Rain also fell in Bahrain, Qatar, and Saudi Arabia.
Denmark's historic old stock exchange near the parliament caught fire, leading to partial closure of the inner city. Flames engulfed the spire of the 400-year-old building, causing its collapse. The structure, now housing the Danish Chamber of Commerce, was undergoing renovation.
Iran's missile strike on Israel may not lead to harsh sanctions on its oil exports due to concerns about oil prices and angering China, say analysts. House Republicans accused Biden of not enforcing existing measures and plan to introduce bills for stricter sanctions. Biden faces pressure to act on Iran without escalating tensions, raising oil prices, or antagonizing China, the top buyer of Iranian oil.
The hush-money trial of Donald Trump began with jury selection. Judge warned Trump not to interfere. Only a third of potential jurors remained after many excused due to biases. Trump accused the trial of being politically motivated. Prosecutors seek fines for social media posts. Trump faces charges of falsifying records to hide sex scandal payments. Trial could result in up to four years in prison if convicted.
This Tax Day, IRS refunds are up to an average of $3,011, thanks to improved customer service funded by Democrats' Inflation Reduction Act. With over $200 billion in refunds already delivered this tax season, the IRS aims to be more efficient and effective. New initiatives like Direct File could revolutionize tax filing for Americans, but threats of funding cuts loom large from congressional Republicans.
US President Biden to meet with Iraqi Prime Minister Sudani at the White House to discuss ISIS and recent tensions in the Middle East after Iran's attack on Israel. Sudani's visit was originally focused on US troop presence in Iraq but will now address regional instability. Iraq aims to reduce US forces presence amid escalating US-Iran tensions.
Prime Minister Rishi Sunak accused Iran of "sowing chaos" in the Middle East after a barrage of 300 missiles and drones targeted Israel. UK provided support in shooting down Iranian drones, condemning Iran's escalation and calling for de-escalation. Sunak emphasized the need for regional security, two-state solution, and aid for Gaza. UK summoned Iran's embassy over the attack, urging immediate de-escalation.
Nikki Haley, former South Carolina governor and US ambassador to the UN, has joined the Hudson Institute. She will be the next Walter P Stern Chair, focusing on defending freedom and American security. Haley suspended her presidential campaign last month. Hudson Institute inaugurated the chair in 2020 to honor former Chairman Walter Stern. Haley received Hudson's Global Leadership Award in 2018.
Iranian President Ebrahim Raisi to visit Pakistan amidst tensions in Middle East. Expected to meet with top Pakistani leaders and military officials. Visit follows recent conflict between countries, including retaliatory strikes. Agenda includes bilateral ties, security cooperation, gas pipeline, and potential Free Trade Agreement. Iran also to release Pakistanis stranded on seized ship.
Senior operations technician at Singapore Refining Company sentenced to jail for directing workers during toxic gas incident that killed an Indian national. Leck Ching Hwa admitted negligence at the oil refinery plant on Jurong Island. Palanivel Pandidurai, 30, died from chemical burns after exposure to hydrogen sulphide gas. Other workers suffered injuries but survived. Hydrogen sulphide is poisonous and commonly found in oil production. Ministry of Manpower officer reported the extent of injuries.
Singapore Prime Minister Lee Hsien Loong, 72, will step down on May 15, passing the reins to Deputy Lawrence Wong, 51. Wong, also finance minister, will become the city-state's fourth premier. Lee's leadership saw significant economic growth, but challenges remain for Wong, including high living costs and geopolitical tensions. Despite recent scandals, the ruling party aims for continuity.
Iran's attack on Israel has disrupted flights in the region, leading to closures of airspace in countries like Jordan, Iraq, and Lebanon. Airlines are rerouting flights, increasing travel times and costs. European carriers are adjusting operations, with some pausing flights to Israel and Jordan. Middle Eastern services are gradually resuming as airspaces reopen. Airlines are facing challenges navigating through war zones and geopolitical tensions.
Iran launched a massive attack on Israel with drones and missiles, prompting US military and diplomatic intervention. American forces successfully intercepted dozens of threats. President Biden monitored the situation closely. Tensions began after Israel's strike on Iran's consulate. The US worked to support Israel and prevent further escalation. Israel has signaled a desire to avoid major conflict with Iran. Washington aims to calm the situation and avoid being dragged into further hostilities.
Oil futures were largely unaffected by Iran's attack on Israel, as traders expect the conflict to remain contained. Analysts from Goldman Sachs, ING Groep, RBC Capital Markets, ANZ Banking Group, and Again Capital weigh in on the situation, with varying perspectives on potential outcomes and the impact on oil prices. The market is awaiting Israel's response before expecting any significant price movement.
US Secretary of State Blinken and Defense Secretary Austin engaged in diplomatic calls with Middle Eastern counterparts amid escalating crisis after Iran's strikes on Israel. Biden emphasized avoiding further escalation, reaffirmed commitment to Israel's security. UN Secretary-General urged against actions leading to major military confrontations. US officials emphasized not seeking conflict with Iran, praised Israel's military defense capabilities. Congressional leaders discussed Iran's attack against Israel.