Emergency and rescue responders work at the rubble of a building in Beersheva, Israel, following a ballistic missile fired from Iran. Getty Images
Emergency and rescue responders work at the rubble of a building in Beersheva, Israel, following a ballistic missile fired from Iran. Getty Images
Emergency and rescue responders work at the rubble of a building in Beersheva, Israel, following a ballistic missile fired from Iran. Getty Images
Emergency and rescue responders work at the rubble of a building in Beersheva, Israel, following a ballistic missile fired from Iran. Getty Images


Fadah Jassem
  • English
  • Arabic

The recent hostilities between Israel and Iran may be seen as an unprecedented escalation in their long-standing conflict, which dates back to the inception of the Islamic Republic in 1979.

The regional arch-rivals have long been engaged in a shadow war, which has unfolded through cyber warfare, attacks through proxies, limited direct assaults and most recently, the air war.

From proxy war to direct conflict

Hostilities have simmered for decades, tied to Iran’s 1979 Islamic Revolution and its perceived campaign to destroy Israel. The two nations have also clashed through proxies over the years, such as Hezbollah in Lebanon and the Palestinian group Hamas. Some of the confrontations included limited tit-for-tat rocket exchanges and assassinations and cyber sabotage, such as Stuxnet, a program that was used by Israel to intercept nuclear centrifuges in Iran.

By 2024, these proxy hostilities transformed into direct military exchanges. Israel, in offensives it said were linked to its war in Gaza after the Hamas-led October 7, 2023 attacks, carried out assassinations and attacked Iranian interests in Lebanon, Syria, and Iraq.

A suspected Israeli air strike on the Iranian embassy compound in Damascus killed seven IRGC officers, including two senior commanders. Iran responded with a barrage of drones and missiles in a direct attack on Israel in April. Later in October, Iran fired missiles again after Israeli attacks on Iranian territory.

June 13: Israel launches strikes ‘Operation Rising Lion’

Israeli attacks catch Iran off-guard:

  • Israel sent more than 200 aircraft to attack Iran on June 13, including F‑35 stealth fighters, as part of its Operation Rising Lion. More than 330 strikes hit approximately 100 nuclear, military and strategic locations across Iran, including Natanz, Isfahan, Tehran and Parchin. Several senior Iranian military commanders and nuclear scientists were killed along with dozens of civilians as Tehran was caught off-guard .
  • Sabotage by Mossad reportedly disabled Iranian air defences, paving the way for deep strikes.
  • Israel claims its main objective is to take down the Iranian nuclear programme.

Iran immediately responds:

  • Launching its retaliatory operation, True Promise III, Iran fired hundreds of ballistic missiles and drones at central Israel, aiming for Tel Aviv, Jerusalem, Haifa and Beersheba. Israel’s Iron Dome defences intercepted most, but several strikes caused civilian injuries and inflicted damage.

Through the following week, the exchange left at least 24 Israeli civilians dead, scores injured, while Iranian casualties reached the hundreds, amid widespread destruction and civilians fleeing major cities.

June 14- 21 : Retaliatory attacks continue

  • Israel continued air raids on Tehran, Isfahan, Natanz, and parts of Iran − several of them nuclear enrichment sites. The air campaign destroyed oil and gas installations, intelligence buildings,more missile bases and airports. Some of these strikes were also carried out in densely populated civilian areas such as Tehran.
  • Satellite images released by Maxar and Planet Labs PBC began to show the level of destruction of harder-to-reach military and nuclear energy sites across the country.
  • Equally, Iran’s missile barrages persisted, breaching Iron Dome defences, striking cities such as Tel Aviv, oil complexes in Haifa and hospitals in the south.

June 22: US enters with Midnight Hammer

On June 22, after hints and warnings of American intervention from President Donald Trump, the conflict reached a new level:

  • US B‑2 bombers and Tomahawk missiles struck Iran’s Fordow, Natanz and Isfahan nuclear plants as part of Operation Midnight Hammer. Mr Trump described the attacks as “very successful” - although Iran downplayed their impact.
  • The US intervention marked a significant shift in the scale of the war, but domestically, Mr Trump’s decision drew bipartisan criticism for bypassing Congressional authorisation.

June 23 : Regional impact as Iran strikes US base in Qatar

  • What followed was a characteristic yet shocking retaliation. Iran fired missiles at the US military base in Qatar. One landed, causing no casualties; all others were intercepted. Meanwhile, Israel continued air raids on Tehran and western Iran.
  • Regional airspace in one of the world's busiest aviation routes was disrupted. Emirates, Etihad, Qatar Airways and other Gulf carriers suspended or rerouted dozens of flights

June 24 : A sudden ceasefire?

  • A sudden ceasefire was announced by Trump overnight.
  • Prime Minister Benjamin Netanyahu said Israel has agreed to the truce proposal, and later Iranian state TV reported that the ceasefire had begun.
  • Israel then ordered strikes on Tehran after accusing Iran of violating the truce – an allegation rejected by Iran.

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

RESULTS

Welterweight

Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)

(Unanimous points decision)

Catchweight 75kg

Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)

(Second round knockout)

Flyweight (female)

Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

(RSC in third round)

Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

(Disqualification)

Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

(Unanimous points)

Featherweight

Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

(TKO first round)

Catchweight 69kg

Jung Han-gook (KOR) beat Max Lima (BRA)

(First round submission by foot-lock)

Catchweight 71kg

Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)

(TKO round 1).

Featherweight title (5 rounds)

Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

(TKO round 1).

Lightweight title (5 rounds)

Bruno Machado (BRA) beat Mike Santiago (USA)

(RSC round 2).

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Updated: June 25, 2025, 6:49 AM