May 21, 2026
Beijing has refused to approve a planned visit defence systems. China’s move signals escalating pressure over US arms sales to the island, just as US-Pakistan ties remain strained over the Mumbai attacks investigation and New Delhi’s strategic recalibrations.
US President Donald Trump warned Iran that talks over its nuclear programme are in their “final stages” and that fresh American action will follow if no deal is reached. Iran has threatened retaliation. The hardening stance comes amid heightened tensions in the Gulf, where a series of incidents have raised concerns about broader regional conflict. Markets reacted with caution as oil prices remained elevated on supply disruption fears.
SpaceX has filed papers for an initial public offering, revealing a $4.28 billion loss for the most recent fiscal year despite its dominant position in the commercial launch market. The company — which operates the Starlink satellite internet constellation and NASA crew missions — disclosed the filing as it pursues a listing that could value it at over $200 billion. The IPO is expected to draw strong retail interest given SpaceX’s high profile and government contracts.
The United States is in talks with India to increase energy exports, particularly liquefied natural gas, as the Hormuz Strait blockade disrupts global oil supply chains. The blockade — linked to escalating Iran tensions — has pushed crude prices higher and forced Asian importers to seek alternative routes. India’s petroleum ministry is evaluating offers from US producers to compensate for reduced Gulf shipments.
Congress will rejoin the Tamil Nadu Cabinet on Thursday with two MLAs — Rajesh Kumar and P Viswanathan — taking oath as ministers in the Vijay government, marking the party’s return to state executive power after 59 years. The alliance with the DMK-led government ends Congress’s long stretch in opposition in the state. The development is expected to strengthen the INDIA bloc ahead of state elections due later this year.