Péter Magyar, the centre-right, pro-European Union opposition leader, defeated incumbent Prime Minister Viktor Orbán in Hungary's general election on Sunday, ending Orbán's grip on power. Orbán conceded defeat in an address to his Fidesz party members roughly three hours after polls closed, before official final results were published. The outcome marks a decisive break from more than a decade of Fidesz dominance and Orbán's consolidation of executive and institutional power in Hungary. Magyar's pro-EU positioning signals a likely realignment of Hungary's relationship with Brussels, which had been strained by Orbán's resistance to EU budget rules, his proximity to Moscow, and repeated clashes over rule-of-law standards. For markets and policy circles, the shift raises the prospect of Hungary regaining access to frozen EU cohesion funds and rejoining mainstream European foreign policy consensus on Ukraine. Orbán had been a notable ally of Donald Trump within European politics, adding a geopolitical dimension to the result. The pace and depth of any policy pivot will depend on Magyar's governing coalition and parliamentary composition, details not yet confirmed in the source.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
