Gulf Shipping & Energy Risk: The US and Iran agreed to “stand down for now” and let vessels move freely through the Strait of Hormuz while technical talks continue, but the ceasefire remains shaky after tit-for-tat strikes that included reported attacks on Bahrain and Kuwait and renewed arguments over who controls safe passage. Bahrain Security & Sovereignty: Iran’s officials issued warnings to Bahrain after claimed strikes tied to the Hormuz dispute, while Bahrain reported intercepts and damage from drone/missile activity, keeping regional tensions front and centre for local industry and logistics. Markets Watch: Oil and metals reacted to the uncertainty—oil fears lifted prices during the flare-up, while gold slipped as rate-hike expectations returned. Bahrain Trade & Industry: Bahrain’s EDB wrapped a five-day China/Hong Kong push to attract investment into priority sectors. Regional Economic Integration: Bahrain’s Industry and Commerce Minister chaired GCC commercial and industrial co-operation talks via videoconference, focusing on logistics and resilience. SME Support: UNIDO Bahrain-backed plans unveiled a BD40m international fund to back startups and MSMEs in war-affected countries. Health Sector Deal: Arcera Life Sciences and Daewoong expanded their Middle East partnership to bring Enavogliflozin into key markets.