Trump leaves G7 summit early due to Middle East situation

U.S. President Donald Trump left the Group of Seven summit in Canada a day early due to the situation in the Middle East, the White House said on Monday, Reuters reported.

French President Emmanuel Macron said Trump had made an offer for a ceasefire between Israel and Iran.

Trump had earlier urged everyone to immediately evacuate Tehran, and reiterated that Iran should have signed a nuclear deal with the United States.

"Much was accomplished, but because of what’s going on in the Middle East, President Trump will be leaving tonight after dinner with Heads of State," Press Secretary Karoline Leavitt said on X, according to Reuters.

The G7 has struggled to find unity over conflicts in Ukraine and between Israel and Iran as Trump overtly expressed support for Russian President Vladimir Putin and has imposed tariffs on many of the allies present.

Gold price drops by Rs 2, 000 per tola on Tuesday

The price of gold has dropped by Rs 2, 000 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 195, 000 per tola today. It was traded at Rs 197, 000 per tola on Monday.

Similarly, the price of silver has dropped by 5 and is being traded at Rs 2, 160 per tola today.

 

Oil prices rise and US futures fall as Israel urges residents of Iran’s capital to evacuate

Oil prices resumed their upward climb and U.S. futures were lower early Tuesday after Israel’s military issued an evacuation warning to 330,000 people in Iran’s capital Tehran, Associated Press reported.

Asian shares were mixed. 

The evacuation warning was for a part of Tehran, a city of 9.5 million, that houses the country’s state TV and police headquarters and three large hospitals, including one owned by Iran’s paramilitary Revolutionary Guard. U.S. President Donald Trump announced he was returning from the G7 summit in Canada a day early due to the intensifying conflict.

The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.3%, according to Associated Press.

In Asia, Tokyo’s Nikkei 225 index climbing 0.6% to 38,547.56 as the Japanese central bank opted to keep its key interest rate unchanged at 0.5%.

US and UK announce a trade deal, but steel imports unresolved

U.S. President Donald Trump signed an agreement on Monday formally lowering some tariffs on imports from Britain as the countries continue working toward a formal trade deal, Reuters reported.

The deal, announced by Trump and British Prime Minister Keir Starmer on the sidelines of the G7 Summit in Canada, reaffirmed quotas and tariff rates on British automobiles and eliminated tariffs on the U.K. aerospace sector, but the issue of steel and aluminum remains unresolved.

Other critical industries, such as pharmaceuticals, were not mentioned.

Trump said the relationship with Britain was "fantastic," as he waved, and then briefly dropped, a document that he said he had just signed.

"We signed it and it's done," he said, incorrectly calling it a trade agreement with the European Union, before making clear the deal was with Britain, according to Reuters.

Iranian state broadcaster hit as Iran urges Trump to make Israel halt war

An Israeli strike hit Iran's state broadcaster on Monday while the head of the U.N. nuclear watchdog indicated extensive damage to Iran's biggest uranium enrichment plant and Iran called on the U.S. to force a ceasefire in the aerial war, Reuters reported.

Late on Monday, Israel said it hit Iran's broadcasting authority, and footage showed a newsreader hurrying from her seat as a blast struck. Israel's military said the building also served as a communications centre used by Iran’s armed forces.

The conflict entered its fifth day on Tuesday, with air raid sirens sounding in Tel Aviv shortly after midnight as Iran launched additional missiles toward Israel.

Iran's Foreign Minister Abbas Araqchi told four European counterparts that Iran was serious about diplomacy but its current focus was on confronting aggression, Iranian state media reported. Israel has said its goal is to eliminate Tehran's ability to develop a nuclear weapon, according to Reuters.

US bolsters Trump's Middle East military options by moving refueling aircraft, officials say

The U.S. military has moved a large number of refueling aircraft to Europe to provide options to President Donald Trump as Middle East tensions erupt into conflict between Iran and Israel, two U.S. officials told Reuters on Monday, speaking on condition of anonymity, Reuters reported.

The officials also said the U.S. aircraft carrier Nimitz was heading to the Middle East, in what one of them said was a pre-planned deployment. The Nimitz can hold 5,000 personnel and more than 60 aircraft, including fighter jets.

Taken together, the deployments, which were first reported by Reuters, suggest the United States is greatly strengthening its air power for potentially sustained operations as Iran and Israel trade blows in unprecedented open warfare.

Israel began bombing Iran on Friday, saying Tehran was on the verge of building a nuclear bomb. Since then, Iran and Israel have launched large salvos against each other, killing and wounding civilians and raising concerns about a broader regional conflict, according to Reuters.

Trump urges Tehran evacuation as Iran-Israel conflict enters fifth day

Israel and Iran attacked each other for a fifth straight day on Tuesday, and U.S. President Donald Trump urged Iranians to evacuate Tehran, citing what he said was the country's rejection of a deal to curb nuclear weapons development, Reuters reported.

Trump was due to leave the Group of Seven summit in Canada later on Monday, a day early, due to the Middle East situation, the White House said. Fox News reported he would convene his National Security Council.

"Iran should have signed the 'deal' I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!" Trump wrote on his Truth Social media platform.

French President Emmanuel Macron said Trump's early departure from the G7 was positive, given the immediate objective was to get Israel and Iran to agree to a ceasefire that the U.S. had proposed, according to Reuters.

Russia and Ukraine fulfil deal to repatriate dead soldiers

Ukraine and Russia have completed an exchange of dead bodies - the final stage of a deal to bring home fallen soldiers, BBC reported.

Kyiv said Moscow handed over 1,245 bodies on Monday, bringing the total to 6,057 in the past few days. It said it was now verifying whether all the bodies were indeed of Ukrainian soldiers.

Russia put 6,060 the overall number of bodies transferred to Ukraine. It also said 78 bodies of Russian soldiers had been repatriated.

Ukrainian Interior Minister Ihor Klymenko accused Russia of "deliberately complicating" the identification process. "Bodies are returned in an extremely mutilated state, parts of [the same] bodies are in different bags," he said, according to BBC.