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Trump says Iran deal ‘largely negotiated’ as fight over strait reopening

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US President Donald Trump stated on Saturday a “largely negotiated” memorandum of understanding ​on an Iran peace deal will reopen the Strait of Hormuz, but Iranian Fars news agency contradicted ‌that report.

Trump said on social media that the emerging deal would restore the strait, the critical shipping corridor whose closure roiled global energy markets after the conflict began in February with US and Israeli assaults on Iran. He did not disclose what would be in an agreement. ““Final aspects and details of the Deal are being discussed right now, and will be announced shortly,” Trump posted on Truth Social.

But Fars, early Sunday, reported that the deal would give Iran control of the channel of Hormuz, and Trump’s statement ​about the channel was “inconsistent with reality.”

Iran’s top officials met with Pakistan’s army chief Asim Munir and said they were moving toward a memorandum of understanding on ending ⁠the war.

The Pakistani army said the talks had made “encouraging” progress. “The deal being negotiated is fairly comprehensive to terminate the war,” two Pakistani sources involved in the talks said.

Sharif, the prime minister of Pakistan, complimented Trump on X for his “extraordinary efforts ​to pursue peace.”

The suggested framework would take place in three stages: legally ending the war, addressing the issue in the Strait of Hormuz and initiating a 30-day window for negotiations on a broader accord, which can be extended, sources told Reuters.

One of the Pakistani sources said if the US agrees to the memorandum, more negotiations might take place after the Eid holiday finishes on Friday.

TRUMP TALKS TO MIDDLE EAST LEADERS

The US president, whose favour ratings have been hurt by the impact of the war on oil prices for US consumers, announced on Friday he would not attend his son’s wedding this weekend, citing Iran among the reasons he wanted to stay in Washington.

Trump said on Truth Social he had a phone chat Saturday with the leaders of Saudi Arabia, Qatar, the United Arab Emirates, Jordan, Egypt, Turkey and Pakistan. The leaders reportedly urged Trump to sign onto the evolving framework, Axios said.

Trump said that a second call with Israeli Prime Minister Benjamin Netanyahu went “very well.

Pakistan has sought to reduce gaps between Iran and the US after weeks of war have closed the critical Hormuz strait to most shipping despite a tentative ceasefire.

Trump has frequently asserted the US hit Iran to prevent it from acquiring nuclear weapons. Iran denies developing nuclear weapons and maintains it has a right to enrich uranium for civilian purposes.The trend this week has been toward a ⁠reduction in disagreements, but there are still concerns that need to be resolved through mediators. “We will have to wait and see how the situation ends in the next three or four days,” said Esmail Baghaei, spokesman for the Iranian Foreign Ministry.

Iran has asked for control over the strait and for the US to stop the blockade on its ports and abolish the restrictions on Iranian oil shipments.

Baghaei said the issue of the US blockade on Iran’s shipping was essential but that its priority was stopping the danger of further US assaults and the current struggle in Lebanon, where Iran-allied Hezbollah fighters are fighting Israeli troops who have moved into the south.

Pakistan’s army chief Munir departed Tehran Saturday after discussions with Iran’s chief negotiator Mohammad Baqer Qalibaf and foreign minister Abbas Araqchi.

Qalibaf claimed Iran’s military forces have rebuilt their capabilities during the ceasefire and if the US “foolishly restarts the war,” the results would be “more forceful and bitter” than at the outset of the conflict.

Iran has maintained its stockpile of near-weapons-grade enriched uranium, and its missile, drone and proxy capabilities, despite weeks of conflict.

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An earthquake with a magnitude of 4.7 occurs close to Naples, Italy, resulting in damage and disruptions.

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  • A magnitude 4.7 earthquake hit the Campi Flegrei area near the southern Italian city of Naples on Friday, causing power cuts, disrupting train and metro services and damaging some buildings, authorities said.

The quake was registered around 7.46 pm (1746 GMT). Italy’s National Institute of Geophysics and Volcanology stated the epicentre was in the Campi Flegrei area west of Naples at a depth of around 3 km (2 miles).

The Italian fire department said there had been minimal damage to buildings in and around Naples, but workers had not received immediate demands for help or rescue of occupants.

Local rail and metro services were suspended as a precaution, local officials said.

According to Italian media, it was one of the greatest earthquakes ever registered in the region, with people in some areas pouring into the street as the tremors hit.

The government has increased surveillance of the heavily populated volcanic caldera of Campi Flegrei, which spans much of western Naples and has seen growing seismic activity in the past several years.

The region is regularly hit by tiny quakes but greater ones have stoked fears of a repetition of the seismic ⁠crisis that rocked Campi Flegrei in the early 1980s, disrupting life across the region and forcing thousands of people from their homes.

Italy is a country at risk of earthquakes.

Central Italy was hit by severe quakes in 2016, destroying areas of Lazio, Umbria and the Marche provinces, killing over 300 people.

The most destructive in recent decades was a 6.9-magnitude quake that rocked the Irpinia region of southern Italy in November 1980, killing over 2,700 people and destroying hundreds of villages.

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For three days, Pakistan lowers the price of petrol and diesel.

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For a three-day period starting on August 1, the government has announced a slight decrease in the cost of petroleum products, including gasoline and high-speed diesel (HSD).

The Petroleum Division said that the price of high-speed diesel has been lowered by Rs0.66 per litre, resulting in a new retail price of Rs392.38 per litre.

Additionally, the price of gasoline has been lowered by Rs0.12 per litre, to Rs336.03 per litre.

According to the letter, the updated pricing will go into effect between August 1 and August 3.

According to the administration, the little cut was taken after accounting for both domestic economic and budgetary factors as well as global oil costs.

In light of persistent economic pressures and swings in the world’s crude oil markets, the most recent adjustment provides customers with little respite.

The most recent update comes after the government regularly reviews fuel costs, which are decided by the currency rate, domestic tax laws, and global market trends.

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FBR surpasses its July revenue goal by Rs40 billion.

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In July 2026, the Federal Board of Revenue (FBR) collected Rs820 billion in net revenue, exceeding the monthly target by Rs40 billion.

The July tax collection target was set at Rs780 billion, but net receipts came in at Rs820 billion, according to FBR documents.

According to the papers, gross tax collections for the month totaled Rs918 billion. Net receipts were Rs820 billion after Rs98 billion of this sum was reimbursed to taxpayers under different refund categories.

Gross collections under the income tax head was Rs343 billion. Net income tax revenues fell short of the objective of Rs323 billion, coming in at Rs308 billion after the payment of Rs35 billion in refunds.

In July, sales tax collections came to Rs413 billion, while sales tax refunds were Rs53 billion.

The Federal Excise Duty (FED) collected Rs48 billion, compared to the objective of Rs47 billion, according to the FBR.

In July 2026, customs duty receipts totaled Rs115 billion, surpassing the designated objective of Rs105 billion by Rs10 billion.

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