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Iran threatens to target US tech companies, urges evacuations

Iran’s Islamic Revolutionary Guard Corps (IRGC) has threatened to target US tech companies operating in the region, urging employees and people living nearby to evacuate immediately.

“Since the main element in designing and tracking terrorist targets are American and ICT and AI companies … from now on, [these] main institutions will be our legitimate targets,” it said in a statement relayed by Iran’s Tasnim news agency.

The IRGC said more than 15 companies will be targeted, including Boeing, Tesla, Meta, Google and Apple, from 8pm local time tomorrow if more Iranians leaders are killed in “targeted assassinations”.

Middle East conflict could cost region $194bn: UNDP

The UN Development Programme has published a stark warning about the economic cost of the ongoing war.

The report models the potential impact of the military escalation across the region. It describes what it calls a localised conflict becoming a “systemic regional shock”.

  • The region’s GDP could shrink by between 3.7 and 6 percent, a loss of up to $194bn, driven by disruptions to trade, energy markets and shipping routes.
  • Shipping through the Strait of Hormuz has fallen by more than 70 percent since the escalation began, pushing oil prices from around $72 to nearly $120 a barrel.
  • Up to 4 million additional people could be pushed into poverty, with the Levant, including Iraq, Lebanon and Syria, bearing the heaviest burden.
  • Between 1.6 and 3.6 million jobs are at risk across the region, with low-skilled workers the most exposed.
  • Lebanon has been declared a major humanitarian emergency, with nearly a million people displaced and more than 325 schools converted into shelters.