Iran’s military announced it has resumed control of the Strait of Hormuz, one of the world’s most critical shipping routes, according to reports from BBC News and Iranian state media.

The Islamic Revolutionary Guards Corps (IRGC), cited by Fars News Agency, the Iranian Students News Agency, and Islamic Republic of Iran Broadcasting, said the waterway had returned “to its previous state,” with Iranian armed forces exercising control.

Shipping uncertainty and rising accusations

While some vessels were reportedly seen transiting the strait earlier, it remains unclear how much commercial traffic has successfully passed through the narrow corridor, a vital artery for global oil shipments, according to BBC News.

Iran’s military accused the US of “piracy,” arguing that Washington’s “so-called blockade” of Iranian ports amounts to “maritime robbery.” Tehran has repeatedly warned it would restrict access if such measures continued.

State broadcaster Islamic Republic of Iran Broadcasting reported that the route “is now closed again and passage requires IRAN approval,” reinforcing that foreign vessels must seek authorisation.

According to Iran’s Central Military Headquarters, Tehran had previously agreed to allow limited ship passage under specific conditions. However, officials claim the US “did not fulfill their obligations,” prompting the latest restrictions.

A statement posted on IRIB’s official X account reiterated that the strait is now effectively closed without Iranian consent.

Political warnings precede action

The decision follows warnings reported by The Telegraph from Mohammad Bagher Ghalibaf, who said the strategic waterway would “not remain open” if US naval pressure persisted in the region.

Iranian officials now say restrictions have been reimposed due to Washington’s failure to ease its maritime blockade, raising concerns about further disruption to global trade and energy markets.

Iran closes Strait of Hormuz again over continued US blockade of its ports, state media says.

There is confusion over the status of the critical shipping lane, after the US and Iran gave conflicting statements about its opening.

G42 and R/GA have launched alpha.G42.ai, which they describe as a prototype “generative interface” designed to replace traditional static websites with adaptive, AI-driven digital experiences.

The platform, unveiled on Thursday, uses integrated large language models to generate and curate content in real time, allowing users to interact via text or voice and receive tailored outputs based on their intent.

The companies said the system represents a shift from conventional web design toward conversational, agent-based interfaces.

Alpha.G42.ai is built as an immersive interface where artificial intelligence is embedded directly into the user experience. As users navigate the platform, it dynamically produces content formats such as sector-specific executive briefings or customised audio outputs, according to the companies.

The initiative targets business, government, academic and entrepreneurial audiences seeking to engage with G42’s concept of an “Intelligence Grid for AI-Native Societies,” which it positions as infrastructure enabling the flow of data and AI capabilities across sectors and geographies.

“Websites are dead; agencies are irrelevant; prove us wrong,” said Kyle Wheeler, the global executive creative director at R/GA, describing the brief given to agecncy. He said the response was to build “the next operating system for brands” rather than redesign a website.

The AI platform is a prototype for a new form of the web

Alesandro Brunori, VP Of Brand Experience at G42, said the platform is intended as “a prototype for a new form of the web,” moving from manually published content to systems that generate and evolve information in real time.

The system ingests various content formats including PDFs, videos and articles, converting them into a knowledge base that can be used to generate audience-specific outputs. It also retains contextual memory to inform responses to user queries, the companies said.

They added that the approach departs from traditional content management systems by focusing on dynamically generated content, with potential implications for search optimisation and machine-to-machine interaction.

R/GA led strategy, experience design and engineering for the project in partnership with G42’s internal communications, creative and technology teams.

G42, based in Abu Dhabi, focuses on artificial intelligence and cloud computing, while R/GA operates as an independent creative innovation firm with a global presence.

School bus operations across the UAE will resume from Monday, April 20, 2026, following a fresh update from the Ministry of Education.

The decision marks a reversal of a previous announcement of a temporary suspension, with officials now confirming that transport services are ready to operate across all public and private schools nationwide.

“In light of the ongoing assessments conducted by the National Emergency and Crisis Management Authority alongside the Ministry of Education, and local education authorities, it has been decided to resume school bus operations starting Monday, 20 April 2026 for all public and private schools in the country,” the statement confirmed.

The update comes just days after officials had delayed bus services to allow for further coordination with transport authorities and municipalities to ensure the highest safety standards.

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Saudi Arabia has introduced sweeping amendments to its anti-money laundering law, strengthening penalties and tightening enforcement mechanisms, according to official reports.

The cabinet approved the changes, which include new provisions imposing travel bans on convicted offenders and broadening the scope of asset confiscation.

Under the updated Article 28, Saudi nationals sentenced to prison for money laundering will face a travel ban equal in duration to their prison term, a Saudi Gazette report said.

Read more-Foreigners owning property in Saudi: The rules you need to know

Foreign nationals convicted of the same offense will be deported after completing their sentence and barred from re-entering the kingdom, except for Hajj or Umrah, in line with existing regulations.

Courts granted wider powers

The amendments reinforce financial penalties and significantly expand judicial authority. Article 33 requires courts to confiscate laundered funds, proceeds, and related assets upon conviction. If illicit funds are mixed with legitimate assets, authorities will seize an equivalent value.

Courts may also confiscate assets deemed disproportionate to an offender’s legitimate income, provided they are proven to stem from criminal activity, unless the individual can demonstrate a lawful source.

The law further allows confiscation of assets held by third parties if they are linked to the crime. However, protections remain in place for individuals who can prove assets were acquired in good faith and for fair value.

Authorities can also suspend or invalidate transactions that could obstruct asset recovery efforts.

A newly introduced Article 49 bis assigns the Permanent Committee for Combating Money Laundering responsibility for developing risk-based national policies and assessing emerging threats, including those tied to high-risk countries.

The amendments also remove references to “non-profit organisations” from several provisions, reflecting a broader regulatory shift.

In this interview, Sheheryar Rasul, CEO – Group Wealth Management at Habib Bank AG Zurich, highlights the bank’s client-centric model, DIFC expansion and growing focus on Shariah-compliant wealth solutions as it competes with global players in the Emirates.

In an increasingly crowded private banking landscape in the UAE, how does Habib Bank AG Zurich differentiate itself — particularly when competing against global institutions with deeper balance sheets?

Our model values client service and multigenerational relationships as the foundation of our strategy. We believe this is our “secret sauce”, given the insight and understanding we have of our clients’ needs.

As a family-owned organisation, our shareholders understand this well and appreciate the client perspective — this enables the bank to maintain a genuinely client-centric culture.

Also, our clients are based in countries where we have maintained a presence for multiple decades. This long-standing presence allows us to understand our clients, their regulatory environments, business cultures, and financial needs far more intimately.

HBZ has been expanding its footprint in the UAE, including its presence in DIFC. What is driving that momentum, and how does Dubai fit into your broader regional strategy?

Dubai has the unique advantage of being at the crossroads for our clients. Our DIFC branch has enabled us to engage more closely with them and has shown a significant rise in client footfall.

Being in DIFC has brought us much nearer to our clients in a more personable and consistent manner. Our presence in DIFC, combined with a stable and long-established booking centre in Zurich, has provided our global clients with a highly effective and meaningful private banking platform.

Islamic wealth management continues to gain traction. How significant is Shariah-compliant private banking within HBZ’s growth strategy, and where do you see the biggest opportunities?

Islamic banking has been the cornerstone of HBZ’s GWM strategy. Sharia-compliant solutions are the fastest-growing asset class within the wealth industry, particularly among HBZ’s unique client base, which highly values Islamic offerings for both investment and financing needs.

We have the distinct advantage of a global Islamic brand, Sirat, which has a strong footprint across multiple countries.

Technology is reshaping financial services at speed. How is HBZ balancing digital innovation with the traditional relationship-driven model that private banking is built on?

HBZ continues to invest in its technology infrastructure. The bank has enhanced its core banking system, introduced a state-of-the-art credit and lending platform, and is on the verge of rolling out a new CRM system.

These developments have not only elevated the client experience but have also improved operational efficiency.

We recognise the rapidly evolving expectations of the next generation of clients and continue to invest in our digital platforms for private banking accordingly.

Wealth preservation is becoming increasingly complex for global families with multi-jurisdictional exposure. What role does HBZ play in helping clients structure and safeguard generational wealth?

In today’s world of constantly shifting fiscal policies, tax regimes, cross-border regulations, and globally dispersed family structures, a focus on wealth preservation is essential.

We continue to support our clients through webinars, one-to-one meetings, and next-generation engagement events.

Finally, talent is often the defining factor in private banking. How are you building the next generation of relationship managers, and what cultural values define HBZ internally?

HBZ’s five cultural values are Trust, Integrity, Commitment, Respect, and Responsibility.

These core principles guide the development of our next generation of private bankers. We reinforce them through on-the-job training, structured in-house programmes, and recognition of individuals who exemplify these cultural attributes.

The same approach applies to our recruitment strategy, where we ensure prospective team members fully understand and appreciate these values from the outset.