News

Iran’s currency collapse sparks mass protests as inflation spirals

Iran president engages protesters amid economic crisis as currency tumbles and inflation surges

Published

3 weeks ago

December 31, 2025

Harvey Vargas

Iran’s president engages protesters amid economic crisis as currency tumbles and inflation surges

In Short:
– Iranian President Pezeshkian urged action to meet protesters’ demands amid economic crisis and currency devaluation.
– Protests intensified with shop closures in Tehran, following significant inflation and political unrest after Mahsa Amini’s death.

Iran is grappling with its most severe economic crisis in years. Mass protests erupted across Tehran following the dramatic collapse of the national currency. The rial plunged to 1.42 million against the U.S. dollar over the weekend, briefly recovering to 1.38 million. This marks a loss of more than two-thirds of its value since 2022.

Annual inflation soared to 42.2 percent in December, with food prices up 72 percent year-on-year. Many Iranians are struggling to make ends meet, fueling public anger and unrest.

In response, Iranian President Masoud Pezeshkian ordered his government to engage directly with protest representatives. Calling the demonstrations “legitimate,” he emphasized the need for reforms in the monetary and banking sectors. Officials announced a dialogue framework to hear the voices of demonstrators.

The unrest coincided with the resignation of Central Bank Governor Mohammad Reza Farzin. Former Economy Minister Abdolnaser Hemmati is set to replace him, signaling possible shifts in economic policy.

Tehran’s commercial districts were paralyzed as shopkeepers in the Grand Bazaar and major streets closed businesses in solidarity. Videos on social media showed crowds chanting slogans as security forces used tear gas to disperse them.

International pressure is also rising. U.S. officials warned they would support action against Iran if the country resumes nuclear or missile development, following recent airstrikes on Iranian facilities.

The World Bank forecasts Iran’s GDP will contract 1.7 percent in 2025 and 2.8 percent in 2026, deepening economic concerns. How the government responds to these protests and reforms its economy may shape the country’s stability in the months ahead.

News

OpenAI prepares first consumer device amid revenue boom

OpenAI plans to launch a screenless smart speaker by late 2026, shifting focus to hardware amid significant revenue growth.

Published

7 hours ago

January 20, 2026

Harvey Vargas

OpenAI plans to launch a screenless smart speaker by late 2026, shifting focus to hardware amid significant revenue growth.

OpenAI is gearing up to launch its first-ever consumer hardware device in late 2026. The product is expected to be a screenless smart speaker, signalling the tech giant’s move beyond software and into the world of physical devices.

The device comes after OpenAI acquired a promising hardware startup to accelerate development.

The company is also pushing a strategy to strengthen domestic manufacturing, working closely with U.S. manufacturers to secure efficient production of essential components.

Despite the progress, technical hurdles remain, especially around the device’s listening capabilities, which could delay the rollout.

This development comes on the heels of OpenAI reporting an annualised revenue of over $20 billion in 2025, representing a staggering 233% increase from the previous year. The combination of massive revenue growth and expansion into hardware marks a new era for the AI pioneer.

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News

Putin invited to Trump’s Gaza Peace Board

Putin invited to U.S.-led ‘Board of Peace’ for Gaza amid ceasefire efforts and reconstruction debates.

Published

7 hours ago

January 20, 2026

Harvey Vargas

Putin invited to U.S.-led ‘Board of Peace’ for Gaza amid ceasefire efforts and reconstruction debates.

Russian President Vladimir Putin has reportedly received an invitation to join the U.S.-led ‘Board of Peace’ for Gaza, according to the Kremlin. The council, created by President Donald Trump, is designed to maintain a ceasefire between Israel and Hamas while overseeing the region’s reconstruction.

Kremlin spokesman Dmitry Peskov said Moscow will review the details of the invitation before responding. The board has already extended invitations to several world leaders, with some nations confirming their participation.

The proposal has sparked debate because the Trump administration reportedly requires participating nations to pay $1 billion to secure a permanent seat. Putin’s potential involvement also raises concerns, given his ongoing conflict with Ukraine.

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#GazaPeace #Putin #Trump #MiddleEast #InternationalRelations #WorldLeaders #Ceasefire #GlobalPolitics

News

Trump escalates Greenland standoff as Europe weighs retaliation

Denmark boosts Greenland troops as Trump pushes U.S. control, prompting European leaders to seek diplomatic solutions amidst rising tensions.

Published

7 hours ago

January 20, 2026

Harvey Vargas

Denmark boosts Greenland troops as Trump pushes U.S. control, prompting European leaders to seek diplomatic solutions amidst rising tensions.

Denmark has deployed additional troops to Greenland after President Donald Trump renewed his push for U.S. control of the island, linking the issue to what he claims cost him a Nobel Peace Prize.

The move has raised alarm across Europe, with leaders scrambling to prevent a fresh transatlantic crisis.

Trump has warned of tariffs against countries opposing American control of Greenland, calling the territory vital to U.S. security interests. Norway’s Prime Minister Jonas Gahr Støre has privately raised concerns with Trump, while EU officials assess potential coordinated countermeasures.

Despite the rhetoric, European leaders remain cautious. With U.S. influence deeply embedded in Europe’s defence and security framework, the bloc is keen to avoid further escalation as diplomatic negotiations continue behind the scenes.

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