Bangladesh PM Hasina fled amid deadly protests. Japan’s Nikkei saw its steepest drop since 1987. The Philippines and Vietnam conducted joint drills in the South China Sea. Iran mulls its response to recent Israeli strikes.
Bangladesh PM Hasina Flees as Protesters Storm Residence
Prime Minister Sheikh Hasina, 76, fled to India by military helicopter following violent protests in Dhaka that left 91 dead and hundreds injured.
An interim government is expected to assume power, ending Hasina’s 15-year rule after her Awami League’s recent election win in a controversial, opposition-boycotted vote.
Nationwide protests, sparked by a controversial job quota system favoring veterans' families, have escalated into broader anti-government demands.
Protesters criticize the quota system, arguing it disproportionately benefits Hasina’s supporters, while opposition to the system has united diverse groups, from activists to business leaders.
Authorities enforced a curfew and internet blackout, suspending train services and the garments sector, resulting in an estimated $10 billion in economic losses.
Japanese Stocks See Largest Drop Since 1987’s Black Monday
Japan’s Nikkei Stock Average suffered its steepest one-day fall, closing down 12.4%, marking the largest drop since Black Monday in 1987.
The market decline began after the Bank of Japan raised interest rates to 0.25% from 0.1%, with indications of further hikes.
The initial sell-off saw a 3.5% drop on Thursday, followed by another 5.8% fall on Friday.
Philippines and Vietnam Conduct First Joint Drills in South China Sea
In response to increasing tensions with China, the Philippines and Vietnam will hold joint coast guard exercises for the first time on Friday.
The drills aim to enhance maritime cooperation between the two nations, which both have territorial claims in the South China Sea and have clashed with China over contested waters.
Middle East on Edge as Iran Mulls Response to Israeli Strikes
Israeli strikes on July 30 killed Fuad Shukr, a senior Hizbullah commander in Beirut, and Hamas leader Ismail Haniyeh in Tehran.
Haniyeh’s assassination, following his attendance at Iran’s presidential inauguration, places pressure on Iran to respond.
In a similar incident in April, Iran retaliated for an Israeli assassination of an Iranian general with over 300 missiles and drones targeting Israeli military sites.
Iran’s response remains uncertain, with speculation on timing and potential targets, possibly extending beyond military sites.
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