Technologies

Iran Claims U.S. Blocking Hormuz Agreement Amid Oman Talks

Iran’s hard‑line Revolutionary Guard warned that the United States is blocking a deal with Oman to secure safe passage through the Strait of Hormuz. The Guard said the waterway would stay closed unless Washington accepts Tehran’s terms.

On Wednesday, Iran’s hard‑line Revolutionary Guard asserted that the United States is blocking a deal between Iran and Oman aimed at guaranteeing safe passage through the Strait of Hormuz.

The Guard added that Tehran and Muscat have already settled on how to split control of this crucial waterway, including the disputed revenue from its management, according to the semi‑official Tasnim agency.

It warned that the strait would stay shut unless Washington accepts Tehran’s terms.

Later that morning, President Donald Trump told a radio interviewer that the waterway is already open.

He said, “We’re moving many vessels through the strait right now,” speaking to conservative host Glenn Beck.

He added, “Occasionally a drone or rocket is fired, but the route remains fully operational, with large volumes of oil flowing out.”

The IRGC’s remarks followed a Tuesday joint statement from Iran and Oman, in which their foreign ministers said they had discussed a proposed framework for a temporary joint navigation corridor in the Strait of Hormuz and a plan to clear mines from the waterway.

Trump has recently asserted that the United States and Iran are holding covert talks, although Tehran denies any such discussions. Last week, however, he said the two sides had finished talking and had no intention of restarting dialogue.

In a Wednesday Al Jazeera interview, Trump said he is not rushing to resume negotiations with Iran.

He stated, “I have no timetable, none. I’m not in a hurry. I have no schedule at all,” when asked how much time he is giving Iran to return to talks.

He also told Al Jazeera that he believes both economic pressure and military action against Iran are effective.

Two days prior, Treasury Secretary Scott Bessent unveiled a plan to economically isolate Iran by threatening secondary sanctions on the Islamic Republic’s “enablers.” The measures, announced almost six months into the conflict, have not yet been imposed.

Oil prices have continued to fall after the statement, with the international Brent crude benchmark.

According to preliminary Kpler data, only five commodity ships passed through the Strait of Hormuz on Tuesday, well below the 10‑day average of fifteen. Normally, about one‑fifth of global crude moves through the waterway before the Iran‑related tensions.

The Iran‑Oman joint statement added that technical talks would continue aimed at reaching a permanent navigation corridor, future administration of the strait, and a system for sharing information, managing traffic, and providing navigational and security services.

Adding to oil‑price pressure, the United States has reportedly begun redeploying diplomats to Gulf states, indicating Washington does not anticipate imminent military escalation. Late Tuesday, Russia’s RIA Novosti cited Iranian and Pakistani sources, saying the U.S. and Iran might announce a new cease‑fire in the coming days that would guarantee shipping freedom through Hormuz. The claim could not be independently verified, and the White House did not reply to a request for comment from MS NOW.

U.S. Delays Secondary Sanctions

This follows Bessent’s Monday pledge to launch an “economic D‑day” against the Iranian regime, threatening to target Tehran’s “enablers” and trading partners to choke its economy, a list that covered 60 people, organizations and ships.

Nevertheless, the United States has so far refrained from levying major secondary sanctions on other countries, notably Chinese financial firms believed to be facilitating Iran’s oil exports.

Bessent said on Monday, “Why would I want to destabilize the global financial system? We think it’s important to set a baseline and give people a grace period, but they should know we will act swiftly and we are serious.”

China, which purchases roughly 90 % of Iran’s oil, warned on Tuesday that it would retaliate if the United States broadened economic pressure on countries trading with Tehran.

A Chinese Foreign Ministry spokesperson said on Tuesday, “Beijing will take all necessary steps to firmly protect its rights and interests.

Technologies

Mercari shares wobble as Pokémon card listing curbs rattle investors

Mercari shares rebounded as investors weighed the impact of temporary Pokémon card listing restrictions. Citibank called the stock oversold, while the company said the curbs will remain until it can ensure a safe trading environment.

Mercari shares climbed more than 4% on Friday, extending their rebound from a selloff triggered by the Japanese online marketplace’s restrictions on listings of Pokémon’s 30th anniversary products, announced Tuesday.

The company said the limits will stay in effect for as long as it believes a safe and secure trading environment cannot be guaranteed.

Its stock closed 6.4% lower on Wednesday, the day the restrictions began, before rebounding to finish 1.4% higher on Thursday.

The shares were also outperforming the Nikkei 225 on Friday morning, with the index up about 1%.

Mercari said it introduced the temporary listing ban because of concerns that a spike in transactions after the anniversary products’ release could result in trading disputes and harassment of users involved in those transactions.

Citibank linked Wednesday’s drop of more than 6% to Mercari’s announcement of the Pokémon card listing restrictions. The bank said Mercari’s recent share-price weakness had pushed the stock to “overly pessimistic levels,” describing the shares as “oversold” and the decline as an investment opportunity.

Growth in the value of goods sold on Mercari’s marketplace in the second half of fiscal 2026 surpassed expectations, while a rebound across several categories could support double-digit growth, the bank added.

Citi also said the suspension of trading in certain products was unfavorable for Mercari, but added that the effect was not large enough to cause the bank to change its forecasts.

The restrictions arrive during a worldwide Pokémon card boom. Online marketplace eBay said “Pokémon” was searched more than six million times on its U.K. site in July, highlighting ongoing demand for trading cards.

Pokémon card prices have risen 1,350% since 2020, according to an index compiled by Collectors, which owns card grading agency Professional Sports Authenticator, Verum previously reported. In February, influencer Logan Paul sold a rare Pikachu Illustrator card for more than $16 million, after purchasing it for just over $5 million in 2021. New cards can sell out within minutes, with people coordinating on X and Discord to find out where to go.

A post on X this month claimed that a Pokémon card sold for $2.7 million at auction, setting a record.

Mercari signed an agreement with The Pokémon Company in 2023 to encourage safer trading of Pokémon products on its marketplace, and introduced a policy in 2025 that allows it to restrict listings when issues such as fraud, transaction disputes or extreme price swings threaten marketplace safety.

Technologies

Bank of Japan raises interest rates to 31-year high, flags concerns over inflation

The decision was split 7-2, with board members Toichiro Asada and Ayano Sato dissenting from the hike.

The Bank of Japan has raised its policy rate by 25 basis points to 1.25%, the highest level since 1995.

The move also marked a quickening in the BOJ’s rate hike cycle since it started monetary policy normalization in March 2024, with the rise taking place three months from the BOJ’s last hike, as compared to six months previously.

The decision was split 7-2, with board members Toichiro Asada and Ayano Sato dissenting from the hike. The duo are seen as reflationists and were appointed by Prime Minister Sanae Takaichi earlier this year.

The rise in rate hikes was widely expected, with almost 90% of economists surveyed by CNBC expecting the 25-basis-point tightening. Those surveyed also correctly predicted the dissenters to the decision.

In its statement, the BOJ said the move was because of a risk that inflation will deviate upward to beyond its 2% target.

The central bank added that it aims to stabilize underlying inflation at “around 2%” so that price rises do not overshoot its target and adversely affect the Japanese economy afterward.

The hike comes amid rising inflation in the country and a historically weak yen, with the latest inflation headline rate for August at 1.9% and Tokyo and Washington conducting a coordinated intervention to prop up the yen.

The currency traded at 156.64 after the decision, weakening 0.45%, while the benchmark 10-year Japanese government bond yield fell 4.9 basis points to 2.947%.

Dissenter Asada noted that as the core inflation rate was below 2%, he was of the view that the economic situation may not be strong, and instead advocated for a hold. Core inflation for August stood at 1.7%, down from 1.8% in July.

Sato also said current economic and price developments did not appear to have substantially accelerated compared to before.

The U.S. has been vocal about Japan continuing its rate-hiking cycle, pressuring Takaichi’s preference for an easy monetary policy and an expansionary fiscal policy.

Most recently, Treasury Secretary Scott Bessent told BOJ Governor Kazuo Ueda to take “decisive market and monetary steps” at the G20 finance ministers and central bank governors meeting earlier this month.

Technologies

Crude oil ends the week unchanged as Saudi pipeline disruption proves less severe than anticipated

Oil prices held steady at week’s end as traders determined the Saudi pipeline incident would not significantly disrupt global supply.

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