Newsletter

Unrestricted freedom of navigation benefits economies worldwide. Before the start of the conflict between the U.S., most Gulf countries, and Israel on one side and Iran on the other, the Strait of Hormuz was open to navigation by ships of any nation. This narrow waterway, which lies between Iran and Oman, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.

A proposed federal rule has provoked necessary debate about how grants are awarded. In late May, the U.S. Office of Management and Budget (OMB) proposed a rule called “Regulation for Federal Financial Assistance.” If adopted, this regulation would change how the U.S. government evaluates, approves, and manages research grants to academic institutions. Some of its provisions will also apply to awards for state and local governments and nonprofit organizations.

How will you respond as aging populations, declining birth rates, and other demographic shifts affect your supply chain? In 2025, National Geographic explorer Paul Salopek and a companion walked for hundreds of miles in rural Japan as part of his “Out of Eden Walk” round-the-world trek. They encountered very few people, almost all of them elderly, and passed numerous abandoned towns and villages filled with empty buildings. They often had to walk 25 miles or more to find a shop where they could replenish their supplies and buy food.