US-Iran Nuclear Talks in Switzerland: US VP JD Vance arrived in Switzerland to kick off high-stakes negotiations on Iran’s nuclear programme and the interim MoU meant to end the war, with a 60-day sprint for technical terms. Hormuz Energy Shock Risk: Iran again claimed it closed the Strait of Hormuz amid Israel-Hezbollah fighting in Lebanon, while the US said shipping continued—keeping oil and shipping uncertainty front and center for regional business. Lebanon as the Deal’s Pressure Point: Lebanon ceasefire disputes are set to dominate talks, with both sides trading accusations that could derail sanctions relief and frozen-asset unfreezing. Business Fallout Watch: An Oxford Economics survey says firms expect Hormuz-related disruption to linger into 2027, even after the MoU. OFW Repatriation Boost: Philippines President Marcos ordered an extra $3bn for migrant-worker repatriation and reintegration after Middle East conflict displacement. Regional Trade Hit—Pakistan Mangoes: Pakistan’s mango exports may fall at least 30% as Gulf demand weakens and shipping costs rise. Energy Diplomacy—Malaysia & Turkmenistan: Malaysia’s PM Anwar backed Petronas’ Turkmenistan expansion, citing stronger long-term energy security. Aviation & Tourism: Israir took delivery of its first wide-body A330 for a New York route, while Seattle businesses reported World Cup-driven revenue spikes.