Lebanon Returns Home, But Recovery Lags: Nearly 400,000 displaced Lebanese have gone back to southern homes as fighting eases, but about a million remain displaced and many returns are blocked by destroyed housing, damaged infrastructure, and limited electricity and water. UNRWA Funding Crunch: UN chief António Guterres warned UNRWA is nearing a “breaking point,” urging urgent funding after a $100m gap and restrictions that have hit aid across Gaza, the West Bank, Lebanon, Jordan and Syria. UNRWA Under Political Pressure: Türkiye’s UN envoy said UNRWA faces unprecedented political pressure alongside chronic funding shortfalls, while also condemning attacks and obstructions affecting the agency. US-Iran Talks Stall in Doha: Iran says it will not meet US envoys directly, insisting ceasefire terms must be settled first, while Qatar says technical talks continue and high-level meetings depend on progress. Hezbollah Finance Hit by Sanctions: The US and Gulf partners sanctioned Hezbollah-linked financial institutions and senior officials, targeting entities such as Al-Qard Al-Hassan and Bayt al-Mal to disrupt funding channels. Oil and Shipping Watch: Oil steadied as traders tracked US-Iran talks and partial resumption of shipping through the Strait of Hormuz, where Iran continues to assert route control. Lebanon-Israel Framework Faces Doubts: Analysts warn the security deal could entrench stalemate because Hezbollah rejects disarmament and Lebanon’s state capacity to enforce it is limited. Business/Industry Note: FDA selected seven companies for its PreCheck Pilot Program, including Eli Lilly and Regeneron, aimed at strengthening US drug supply chain resilience.