Iran War Costs Tops US$37.5B, Houthis Threaten Red Sea Shipping , SGX Debuts First U.S. SDRs

Headline news for July 22, 2026:  Oil prices surged to a five-week high today, as two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea. U.S. President Donald Trump announced that U.S. imported generic drugs will face a 100% tariff in August 2028. SGX will launch 3 SDRs for U.S.-listed companies, Grab, Sea and SpaceX today.

Synopsis: A round up of global headlines to start your day by The Business Times. 

Written by: Nicole Teo (nicolet@sph.com.sg)

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