March 12, 2026 - Daily News Digest
On this day: in 1947, The Truman Doctrine is proclaimed to help stem the spread of Communism.
QOTD: "Talking to leaders of Russia and Pakistan, I reaffirmed Iran’s commitment to peace in the region. The only way to end this war—ignited by the Zionist regime & US—is recognizing Iran’s legitimate rights, payment of reparations, and firm int'l guarantees against future aggression” – Iranian President Masoud Pezeshkian, posting on Twitter.
CANADA/ECON - Canada Home Construction Set for Multiyear Slump, Agency Says
https://www.wsj.com/economy/housing/canada-home-construction-set-for-multiyear-slump-agency-says-66e528ec?mod=world_feat3_americas_pos1
Housing starts in Canada are set to decline over the next three years due to higher construction costs, weaker demand and elevated levels of unsold inventory, the country’s housing agency said Wednesday.
The outlook from Canada Mortgage and Housing Corp. represents another setback for the country’s residential real-estate sector, where prices and sales have declined following a prolonged period of strength fueled by immigration. It is also a sign that, unlike in the recent past, housing-market activity won’t help propel the Canadian economy into a higher gear.
Canada’s economy is struggling with slow growth, with manufacturers under duress from hefty U.S. tariffs. Furthermore, firms are scaling back spending and hiring plans as the future of a North American trade treaty is in doubt.
CMHC said in a report that it expects housing starts to drop during the 2026-to-2028 period. Data covering Canada’s seven largest urban markets indicate that unsold housing units reached record highs in 2025. The bulk of unsold units are in the condominium market, which analysts say has basically collapsed in Toronto and Vancouver, British Columbia, where house prices are steepest.
A report in January from Urbanation, a real-estate data company, said condominium sales in the greater Toronto region fell in 2025 to their lowest level in over four decades.
“When completed units don’t sell, lenders restrict credit and developers delay or cancel new projects because many rely on high presale thresholds to secure financing. This slows the pipeline of future housing supply,” CMHC said in its report.
CHINA/ECON - China’s Auto Sales Drop as Demand Cools
https://www.wsj.com/business/autos/chinas-auto-sales-drop-as-demand-cools-48ef5b99?mod=world_feat6_china_pos1
China’s auto sales fell in February, reflecting cooling demand as Beijing dials back government subsidies and tax benefits for purchases of electric vehicles.
Retail sales of passenger cars fell 25% to 1.03 million units in February compared with a year earlier, the China Passenger Car Association said Thursday. Sales fell 33% compared with January.
Subdued sales activity was weighed by a nine-day Lunar New Year holiday and cooling consumer demand, as some had advanced purchases to 2025 to take advantage of government subsidies and policy benefits, the industry body said.
The world’s largest auto market faced some impact from front-loaded demand in January and February, but this short-term volatility doesn’t reflect the market’s long-term trajectory, the CPCA said.
Retail sales of new-energy vehicles, a category encompassing EVs and hybrid cars, fell 32% to 464,000 units in February from a year earlier, the data showed.
“The performance of new energy vehicles has been relatively weak [this year], showing that more policy support is still needed,” the CPCA said.
While domestic sales has slowed, exports by Chinese EV makers expanded notably. In February, exports of passenger cars rose 56% from a year earlier to 555,000 units. Shipments of new-energy vehicles more than doubled to 269,000 units.
Robust exports indicate that the competitive edge of China’s auto industry is strengthening and overseas demand remains strong, the industry body added.
Tesla delivered 58,599 cars made at its Shanghai plant to Chinese buyers in February, and exported 20,393 units.
CHINA/POL - China passes new ethnic minority law, prioritises use of Mandarin language
https://www.reuters.com/world/china/china-set-pass-new-ethnic-minority-law-prioritise-use-mandarin-language-2026-03-12/
China passed a law on a "shared" national identity among the country's 55 ethnic minority groups on Thursday, a move critics say will further erode the identity of people who are not majority Han Chinese and risk making anyone challenging that "unity" a separatist punishable by law.
Called "Promoting Ethnic Unity and Progress", the ethnic minority law aims to forge national unity and advance the rejuvenation of the Chinese nation with the Chinese Communist Party (CCP) at its core, a draft copy of the law showed.
It was passed at the closing session of the annual meeting of the National People's Congress, China's legislature, by 2,756 votes, with three opposing votes and three abstentions, according to a Reuters witness.
The law will come into force on July 1 this year, state media reported.
Officially, China has 56 officially recognised ethnic groups, dominated by the Han Chinese, who account for more than 91% of the country's 1.4 billion people.
China's ethnic minority populations - including Tibetans, Mongols, Hui, Manchus, and Uyghurs - are concentrated in regions that together cover roughly half of the country's land area, much of it rich in natural resources.
INDONESIA/AUSTRALIA/JAPAN/PNG/MIL - Indonesia and Australia to expand security cooperation to include Japan, Papua New Guinea
https://www.reuters.com/world/asia-pacific/indonesia-australia-expand-security-cooperation-include-japan-papua-new-guinea-2026-03-12/
Indonesia and Australia are planning to expand their security cooperation to include Japan and Papua New Guinea, Jakarta's Defence Minister said on Thursday after a meeting with his Australian counterpart.
Trilateral security arrangements would be developed with Indonesia, Australia and Japan, and between Indonesia, Australia and Papua New Guinea, Sjafrie Sjamsoeddin told reporters after talks with Australian Defence Minister Richard Marles.
The leaders of Indonesia and Australia signed a security treaty last month that commits them to consult each other if either country is threatened.
Indonesia and Australia will work together on intelligence sharing, Sjafrie said, without providing details.
The two ministers discussed the possibility of developing a defence training facility on the island of Morotai on North Maluku, with a proposal to upgrade its existing defence infrastructure, he said, adding "We will work together to improve and utilise it."
Marles told reporters that the Morotai facility will belong to Indonesia "but there would be opportunities we see for Australia to engage in training there," adding that it is up to Indonesia to determine how it will be used.
Sjafrie also said military personnel from countries such as the Philippines, Australia and Singapore would have access to the facility, as well as another in North Kalimantan being developed with Singapore.
Indonesia was ready to deploy troops for the international security force in Gaza, but that was dependent on the current dynamic with U.S. President Donald Trump's Board of Peace and the conflict in the Middle East, Sjafrie also said.
Indonesia had been prepared to send 20,000 troops but was now ready to deploy 8,000, in phases, he said, with the move to scale back coming in response to pledges by other countries involved in the initiative to send numbers in the hundreds.
"The president has instructed us to prepare our troops, and we are ready to act, but we are awaiting developments from the BOP. I cannot confirm anything yet because the situation is very dynamic," he added.
CHINA/TAIWAN/MIL - Mysterious Lull in Chinese Military Flights Leaves Taiwan Guessing
https://www.wsj.com/world/china/mysterious-lull-in-chinese-military-flights-leaves-taiwan-guessing-d66c7617?mod=world_lead_pos1
For much of this decade, China has routinely sent warplanes into the airspace around Taiwan, a near-daily display of military might and reminder of Beijing’s threat to seize the island by force.
But a sudden and unusual lull in Chinese flights that began nearly two weeks ago—punctuated by the reappearance of aircraft on Wednesday—has stoked uncertainty about what Beijing is doing while the world focuses on war in the Middle East.
China’s military has sent planes near Taiwan on only two days since Feb. 27, the day before the U.S. and Israel began the attack on Iran. Chinese naval sailings around the island, another element in what Taiwan calls “gray-zone harassment” by Beijing, have persisted throughout the period.
On Thursday, Taiwan’s Ministry of National Defense said five Chinese aircraft had been spotted in the preceding 24 hours around the island, in addition to six vessels from China’s navy.
“A period of this length with little or no air activity, while maritime activity remains consistent, is highly unusual,” said Ben Lewis, whose research organization, PLATracker, documents Chinese military activity.
DPRK/DADDY-DAUGHTER TIME - North Korean leader Kim and his daughter try out new pistols at shooting range
https://apnews.com/article/north-korea-kim-jong-un-ju-ae-pistol-057166b2f5a896e5c83bcc49e5a6079f
North Korean leader Kim Jong Un and his teenage daughter fired pistols during an inspection of a light munitions factory, state media photos showed Thursday, as he pushes to modernize conventional forces after years of focus on nuclear weapons.
North Korea’s official Korean Central News Agency said Kim visited a factory producing pistols and other light arms a day earlier and reviewed a new pistol that recently entered production.
After testing the weapon at a shooting range, Kim rated it “excellent,” the agency said. The agency did not mention the presence of Kim’s daughter in its text report but its photos showed her firing a pistol along with senior military officials.
Kim said the factory was crucial for supplying pistols and other light arms to the military and security forces, and urged expanded capacity and more modern production lines, KCNA said.
NEPAL/ENERGY - Nepal to ration cooking gas due to panic over shortage
https://www.reuters.com/business/energy/nepal-ration-cooking-gas-due-panic-over-shortage-2026-03-12/
The supply squeeze comes as the U.S.-Israeli war on Iran and Tehran's retaliation across the region effectively halts shipping through the Strait of Hormuz, raising energy and transport costs and reducing the output of Middle East oil and gas producers.
Bhatta said consumers were panicking despite repeated assurances that Nepal had enough supplies of LPG.
"The rationing is expected to end the panic and rush for hoarding," Bhatta told Reuters.
Consumers carrying empty cylinders have formed long queues outside refilling plants throughout the country, which is completely dependent on India for its supplies of fuel, including cooking gas.
Officials said Nepal requires about 45,000 cylinders each containing 14.2 kg of cooking gas every month and there was no disruption to supplies.
“We are getting regular supply of fuel including the cooking gas according to our demands," Bhatta said.
IRAN/DREAM IN ONE HAND… - Iran war: Tehran demands reparations to end conflict
https://www.dw.com/en/iran-war-tehran-demands-reparations-to-end-conflict/live-76297820
Iran's president has set conditions for an end to the war, including reparations and guarantees against future aggression. Meanwhile, the IEA's 32 member states agreed to release 400 million barrels of oil.
Iranian President Masoud Pezeshkian has set out requirements from the Iranian side to end the war, including reparations and guarantees against future attacks.
He wrote on X that he had spoken with the leaders of Russia and Pakistan and "reaffirmed Iran’s commitment to peace in the region."
He went on to say: "The only way to end this war — ignited by the Zionist regime & US — is recognizing Iran's legitimate rights, payment of reparations, and firm [international] guarantees against future aggression."
GIFT LINK: Iranian school was on U.S. target list, may have been mistaken as military site
https://wapo.st/4llWy0R
The Iranian elementary school building where scores of children were killed as the U.S. and Israel began their massive aerial campaign was on a U.S. target list and may have been mistaken for a military site, multiple people familiar with the strike told The Washington Post.
The deadly attack occurred in the first few hours of the U.S.-Israeli war against Iran — just as parents were hurrying to the two-story schoolhouse to take their kids home to safety — and killed at least 175 people, many of them children, according to Iranian state media.
It is still not clear why the building was hit, but one person familiar with the school strike said the building had been identified as a factory and had been an approved strike target. A second person familiar said there was an arms depot target located in the same area and did not know if the United States hit the school by mistake, or if U.S. officials had the wrong intelligence and thought the building was the arms depot.
“Initially there was some confusion on why it was on the target list,” said a third person familiar with the strike. The individual would not go into further detail, citing the military’s ongoing investigation into the strike.
Israel has said it did not have a role in the strike — and two Israeli officials told The Washington Post that this specific targeting was not cross-checked or discussed with the Israel Defense Forces before it took place.
IRAN/MIL/ENERGY - Iran steps up attacks on energy targets as tankers hit
https://www.bbc.com/news/articles/c743gpd9z72o
Iran has stepped up attacks on energy targets in the Gulf, as two fuel tankers were hit by explosions and burst into flames.
Fires are burning around the region with fuel and oil storage tanks hit in Bahrain and Oman.
Tehran said the world should be ready for oil at $200 per barrel and warned that any tanker bound for the US, Israel and its partners was a legitimate target. The regime has also declared it has the right to strike financial institutions in the region, after an attack on an Iranian bank.
Meanwhile, the Israeli military has said it has begun a new, "large-scale wave" of attacks on Iran. The two tankers were set ablaze near Iraq's southern port of Basra, forcing a pause of operations at the country's oil terminals.
The Iraqi News Agency, citing a military official, reports that 38 crew members were rescued and one person died.
Iran's official news agency IRNA said the Islamic Revolutionary Guard Corps (IRGC) struck one of the two ships – a US-owned vessel, the Safesea Vishnu – because it had ignored warnings and failed to comply with orders.
Indian authorities earlier said the Safesea Vishnu, which sails under the Marshall Islands flag, was attacked by an unmanned speed boat.
A second vessel, Greek-owned and Maltese-flagged Zefyros, was struck while it was in the middle of a ship-to-ship transfer with the Safesea Vishnu, the vessel's manager Benetech Shipping said.
Separately, a Chinese-owned container ship of the coast of the United Arab Emirates (UAE) was "struck by an unknown projectile causing a small fire onboard", the UK Maritime Trade Operations (UKMTO) Centre said.
US/UKRAINE/IRAN/MIL/TECH - These are Ukraine’s $1,000 interceptor drones the Pentagon wants to buy
https://www.militarytimes.com/news/pentagon-congress/2026/03/11/these-are-ukraines-1000-interceptor-drones-the-pentagon-wants-to-buy/
Ukraine warned allied governments for years to prepare for a new kind of war, one in which cheap, mass-produced drones would overwhelm both the tactics and economics of traditional air defense.
“You don’t have time,” Andrii Hrytseniuk, the CEO of Brave1, recalled telling officials in recent years. “Shahed [drones] will come not only to Ukraine, but to other countries. You need to use your time not to stick to previous conventional warfare, but to work on the new era.”
Brave1 was established in 2023 as Ukraine’s state-backed defense innovation hub, which funds, tests, and fast-tracks new military technology from hundreds of Ukrainian startups.
Three years after Brave1’s formation, the Iran war has made Hrytseniuk’s warning prescient.
In the first week alone, the U.S. and Israel struck more than 3,000 targets across Iran while Tehran fired over 500 ballistic missiles and nearly 2,000 drones at U.S. bases and Israeli cities across 12 countries, burning through over 800 Patriot interceptor missiles in three days — more than Ukraine received from allies throughout four years of war, Ukrainian President Volodymyr Zelenskyy pointed out on Thursday.
IRAN/ISRAEL/MIL - Israeli military says it targeted site used in Iran's nuclear programme
https://www.reuters.com/world/middle-east/israeli-military-says-it-targeted-site-used-irans-nuclear-programme-2026-03-12/
The Israeli military said on Thursday it had in recent days targeted a site used in the Iranian nuclear programme which is identified as "Taleghan".
Taleghan is a facility at the Parchin military complex which Western officials suspect is linked to Tehran's nuclear programme.