Faisal bin Farhan Al Saud is scheduled to visit China for high-level diplomatic discussions as tensions between the United States and Iran continue to shape the geopolitical landscape.

The visit is expected to focus on regional security, economic cooperation, and efforts to promote stability in the Middle East amid growing international concern over the strained relationship between Washington and Tehran.

China has increasingly positioned itself as a key diplomatic player in the region, maintaining close ties with both Saudi Arabia and Iran while advocating dialogue to reduce tensions and prevent further escalation.

Analysts say the Saudi foreign minister’s trip underscores Riyadh’s commitment to strengthening strategic partnerships with Beijing, particularly in areas such as trade, energy, investment, and regional diplomacy.

The visit also comes as global powers continue to monitor developments involving the US and Iran, with concerns that prolonged tensions could affect energy markets and broader regional security.

Officials from both Saudi Arabia and China are expected to discuss bilateral relations as well as international issues of mutual interest, reinforcing cooperation between the two countries.

The outcome of the meetings is likely to be closely watched by the international community as diplomatic efforts continue to address security challenges and maintain stability in the Middle East.

Tech billionaire Elon Musk has reportedly dropped below the trillionaire mark after his net worth declined by an estimated $118 billion.

The sharp reduction in wealth comes amid fluctuations in the value of his business holdings, particularly in the technology and automotive sectors, where investor sentiment and market performance have played a significant role in determining valuations.

Musk, who remains one of the world’s wealthiest individuals, has seen his fortune closely tied to the performance of companies including Tesla and SpaceX. Changes in stock prices and broader economic conditions have contributed to the recent decline in his overall net worth.

Despite the setback, financial analysts note that Musk continues to hold a commanding position among the world’s richest people, with substantial stakes in several high-profile companies spanning electric vehicles, artificial intelligence, social media, and space exploration.

The development highlights the volatility of billionaire wealth, particularly when fortunes are heavily linked to publicly traded companies whose valuations can shift dramatically over short periods.

Market observers say fluctuations of this magnitude are not uncommon among the world’s richest individuals, especially during periods of economic uncertainty and changing investor expectations.

While the loss has pushed Musk below the symbolic trillionaire threshold, he remains a dominant figure in global business and technology, with his ventures continuing to attract significant investor attention.

Global energy markets are in freefall after U.S. President Donald Trump announced a breakthrough deal with Iran to end the war and completely reopen the vital Strait of Hormuz.

​In immediate response to the diplomatic breakthrough, Brent crude—the global oil benchmark—dropped sharply by 4.7% to $83.24 (£61.94) a barrel. Financial markets reacted with a massive sigh of relief, sending shares in Asia and Europe jumping as geopolitical tensions eased.

​The historic agreement was reached with the help of Pakistan, which has served as a key mediator throughout the conflict. According to the Prime Minister of Pakistan, the United States and Iran are scheduled to formally sign a memorandum of understanding in Switzerland this Friday. Trump further confirmed on Sunday that the U.S. naval blockade of Iranian ports would end, and promised that the Strait of Hormuz would be open “toll free.”

​The resolution comes after a devastating three-month disruption to the global economy. The world has lost millions of barrels of oil and gas supply since the war closed the Strait of Hormuz, a critical maritime chokepoint that handles a fifth of the world’s total oil and liquefied natural gas supplies.

Relief is expected to materialize over the coming weeks. According to Iran’s semi-official Mehr news agency, the draft deal calls for reopening the Strait of Hormuz within 30 days under Iranian arrangements, paving the way for a full restoration of global energy trade.