Israel has agreed to a U.S.-proposed temporary ceasefire with Hamas, aiming to de-escalate the ongoing conflict in Gaza. The proposal includes a 60-day truce and phased exchanges of hostages and prisoners. While Israel has accepted the terms, Hamas is still considering the proposal.

In a related development, the Israel Defense Forces (IDF) forcibly evacuated patients and staff from Al-Awda Hospital in northern Gaza, the last functioning hospital in the region, amid escalating violence. The humanitarian crisis continues to worsen, with civilian casualties rising and aid distribution hampered.

🌐 Asia: China Launches International Mediation Organization

China, along with over 30 countries including Pakistan, Indonesia, and Cuba, has established the International Organization for Mediation (IOMed) in Hong Kong. The organization aims to provide a platform for peaceful dispute resolution through dialogue and consensus-building, distinguishing itself from judicial bodies like the International Court of Justice. The IOMed is expected to commence operations by the end of 2025.

📉 Global Markets: Asian Shares Decline Amid Trade Uncertainty

Asian stock markets experienced declines as uncertainty grew over the future of U.S. tariffs. A U.S. court recently blocked many of former President Trump’s tariffs, leading to concerns about the impact on global trade relations and economic stability.

✈️ Aviation: Airlines Address Trade War and Sustainability Challenges

Global airline leaders are convening in New Delhi for the International Air Transport Association’s (IATA) annual summit to address pressing industry challenges, including trade tensions and sustainability concerns. The summit underscores Asia’s pivotal role in future air travel growth.

🇨🇦 Canada: King Charles III’s Royal Visit

King Charles III and Queen Camilla have concluded their royal tour of Canada, which included delivering the Speech from the Throne in Ottawa. The visit was intended to affirm Canada’s sovereignty amid ongoing tensions with the United States over trade and political issues.

⚖️ United States: Legal Developments

A U.S. appeals court has temporarily stayed a ruling that annulled former President Trump’s tariffs, pending further review. Additionally, a federal judge has allowed Harvard University to continue admitting international students while it contests the Trump administration’s immigration policies.