Gavin Newsom announces $48.5 million in grants to support California’s maritime industry and implored a local county board to support a proposal that would speed a massive new shipyard and innovation hub

NEWS: Starlink receives its 10-year licence to provide satellite internet service across the UAE. The approval covers individuals, businesses and government entities, including aviation and maritime connectivity, strengthening the UAE’s digital infrastructure and resilience. Around 80% of the UAE is desert. Starlink can bring high-speed connectivity to remote areas where terrestrial infrastructure is harder to deploy, further strengthening the country’s digital reach and readiness.

Big news for the Philippines! 🇵🇭 Globe has received official approval to launch Starlink Direct-to-Cell service This makes the Philippines the first country in Southeast Asia where regular LTE phones can connect directly to satellites No extra hardware No special app needed Just a compatible phone, an active Globe SIM, and a clear view of the sky This can bring mobile coverage to remote islands, mountains, maritime areas, and disaster-hit regions where traditional cell towers simply can’t reach For a country with thousands of islands, this is a massive connectivity upgrade

Top Overnight News Global bond yields surged Tuesday as renewed tension between the U.S. and Iran reinforced inflation expectations, which increased the prospect of interest-rate hikes in the coming months. The 10-year U.S. Treasury yield rose to 4.792%, the highest since January 2025, according to LSEG data. 30-Year Treasuries are on their worst run since 2006. The 10-year Japanese government bond yield crossed 3% to hit a 30-year high. The 10-year German Bund yield reached 3.364%, unseen since 2011. WSJ / BBG Two oil supertankers attempting to exit the Strait of Hormuz were struck late Monday by projectiles in quick succession, maritime security consultant Marisks said, the latest sign of renewed hostilities around the critical waterway. BBG Iranian President Masoud Pezeshkian told the Shanghai Cooperation Organization Summit on Tuesday that Tehran would immediately reciprocate if Washington agreed to return to its commitments under the interim deal signed in June. CNBC Anthropic has signed a cloud-computing deal worth $35 billion with Nvidia backed cloud provider Lambda, with Nvidia itself holding the lease on the data center, according to people familiar with the deal. The data center is being developed by Hut 8, a bitcoin miner and data-center developer, in Nueces County, Texas. Nvidia signed an agreement with Hut 8 a few weeks ago to secure the capacity, the people said. WSJ China’s factory activity expanded more than forecast in August after three straight months of slowdown, according to a private survey, showing resilience among the country’s export-oriented firms despite a broader slowdown in the economy. The RatingDog China manufacturing purchasing managers index rose to 51.5 from 50.9 in July, according to a statement on Tuesday. It’s been above the 50-threshold separating expansion from contraction for nine months, the longest upswing in five years. BBG South Korea’s exports for Aug came in ahead of expectations at +68.7% (vs. the Street +63%). BBG South Korea’s key policy chief Kim Yong-beom resigned. He had drawn criticism over the rapid introduction of single-stock leveraged ETFs and his proposal for a citizen dividend from the AI boom. BBG Eurozone CPI was inline w/the Street on the headline at +3.3% (up from +2.9% in Jul), but core ran a bit cooler at +2.4% (vs. the Street +2.5% and down from +2.5% in Jul). BBG Micron's Taiwanese labour unions are reportedly moving toward a possible strike unless the Co. agrees to reform its bonus system. Shipping costs at risk of rising further as the White House escalates its crackdown on immigrant commercial truck drivers Both the Department of Homeland Security and the Transportation Department are demanding licensing data across the U.S. about immigrants driving trucks, in a hunt for what they say is a rash of drivers with improper certifications. WSJ "Diesel remains at the epicenter of the rally, accounting for over 40% of the $40/bbl increase in average global refined product wholesale prices since February...Global exports of refined products declined 6mb/d (25%) year-over-year (yoy), with the Persian Gulf and Russia accounting for 75% of the decline." - Goldman Delta One

In the recent episode of the “Worldview with Swasti” podcast by the Indian newspaper ThePrint, our CEO Pierroberto Folgiero took part in a wide-ranging dialogue on the evolution of the global geopolitical landscape. In a rapidly changing world, the sea continues to be a crossroads of opportunities and challenges, and the centrality of the maritime domain emerges as a key element for the security and prosperity of nations. During the interview, he highlighted how India represents a strategic partner for us, capable of sharing a vision of growth based on innovation, advanced technologies, and industrial cooperation that looks to the future. This vision is aligned with Prime Minister Narendra Modi’s recognition of shipbuilding as a strategic pillar for India’s economic and maritime ambitions. We are convinced that the strength of a partnership is measured by the ability to create value together, integrating expertise and visions to address the challenges of our time. Our ambition is to play a leading role in a future where international cooperation is a driver of progress and sustainability, for this reason, we continue to invest in building bridges between industrial cultures, with the awareness that the sea is the great pathway that allows us to navigate together towards new frontiers. 👉 Watch the full interview: @narendramodi @ThePrintIndia

US Tsy Sec Bessent On Iran, Sanctions: Going To Systemically Take Out Bad Actors - Fox News Interview - Airlines, Maritime, Digital Assets Could Be Targets - Having Fulsome Talks With Anyone Supporting Iran

BITCOIN CONFIRMED AS PART OF IRAN’S STRAIT OF HORMUZ TOLL PLANS Iran has reportedly launched “Hormuz Safe,” a sovereign-backed maritime insurance platform allowing ships crossing the Strait of Hormuz to purchase coverage using Bitcoin. According to Iranian state-linked reports, the platform offers digitally verified insurance certificates, encrypted authentication systems, and rapid coverage for vessels operating in the Persian Gulf and surrounding waterways. Documents cited by Fars News Agency claim Iran’s Economy Ministry has been developing the framework since early May as part of a broader strategy to manage shipping traffic through Hormuz using insurance, liability guarantees, and maritime certification systems. Iranian media claims the initiative could eventually generate more than $10B in annual revenue if widely adopted. The move comes as tensions escalate around one of the world’s most critical energy chokepoints, where roughly 20% of global oil supply passes daily. If adopted at scale, Bitcoin may now be entering global maritime trade and energy logistics in one of the most geopolitically sensitive regions on earth.