Deloitte projects Asia-Pacific will be the largest contributor to global financial services value added by 2035, at $4.8 trillion, surpassing the US at $4.3 trillion.

Iran's deputy foreign minister said Iran and Oman have agreed to close the Strait of Hormuz's southern shipping lane and will notify the International Maritime Organization. He said the two will negotiate a future management mechanism for the strait over about 60 days to determine joint arrangements. Iran added that if its demands are not met, the closure will remain in place.

The State Department is preparing to return diplomats to Middle East embassies evacuated before and during the Iran conflict, potentially as soon as this week, and to roll back emergency measures, according to an internal State Department memo obtained by the New York Times. Restorations to higher staffing are planned for U.S. missions in Israel, Lebanon, Saudi Arabia, Qatar, Jordan, Oman, Iraq and Kuwait; three U.S. officials confirmed the adjustments. Officials said the redeployment suggests tensions are easing, even as talks with Iran over extending a 60‑day truce have stalled.