Bomb blast kills nearly 100 in Iran

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Iran has condemned a “terrorist act” and vowed retribution after at least 95 people were killed in two bomb blasts at a ceremony to mark the death of a military commander.

The attacks yesterday were the deadliest in the Islamic republic in decades, hitting crowds gathering in the southern city of Kerman to commemorate the anniversary of the death of Qassem Soleimani, a former Revolutionary Guards leader. The US assassinated Soleimani in 2020.

The attacks came amid high tensions across the Middle East triggered by Hamas’s October 7 attack on southern Israel and the Jewish state’s subsequent offensive in Gaza.

Tasnim, a news agency affiliated with the Revolutionary Guards, said two explosive-laden bags had been placed at the entrance to the cemetery in Kerman and that the perpetrators had detonated them remotely. Here’s what else we know about the attack.

Elsewhere, I’ll be watching the following today:

• Hong Kong economic data: Retail sales and whole economy PMI figures are set to be released.

• More PMI data: Singapore’s whole economy purchasing managers’ index for December is set to be released, as well as Japan’s manufacturing PMI.

Five more top stories

1. The leader of Lebanese militant group Hizbollah warned Israel that it would retaliate following the killing of a senior Hamas leader in Beirut. Israel has not admitted involvement in the death of Saleh al-Arouri, Hamas’s deputy political leader, but the head of Israel’s intelligence agency said that it was “committed to settling accounts” with everyone involved in the October 7 assault. Read the full story.

2. Japanese authorities are investigating communications between the control tower and aircraft ahead of the deadly runway collision at Tokyo’s Haneda airport. Authorities said they had retrieved the flight and voice recorders of the Coast Guard plane, but had not found their counterparts in the JAL aircraft that was struck with yesterday. Here’s what we know about the investigation.

3. China has approved only about a quarter of applications to export data since the introduction of new data security laws in September. The delays deal a blow to businesses struggling to navigate a slowing economy and increased US-China tensions. They also highlight the challenges facing Beijing as it seeks to achieve the conflicting goals of economic growth and strengthening national security.

4. Most Federal Reserve officials wanted to keep borrowing costs high “for some time”, according to minutes of their meeting in December, adding to doubts that the US central bank is poised to begin cutting interest rates as early as March. While officials expressed optimism that the Fed was quelling inflation, they were also careful not to commit to any immediate loosening of monetary policy.

5. A potential drug offers rare promise in the fight against antibiotic-resistant “superbugs” after it successfully targeted a bacterium that causes life-threatening infections in hospital patients, research has shown. Read more on the drug being developed by Swiss pharmaceutical group Roche.

The Big Read

On Sunday morning, a Bangladeshi will cast the first vote in their country’s fraught national elections and set in motion the most intense year of democracy the world has seen since the idea was minted more than 2,500 years ago. About half the world’s adult population will have the chance to vote in 2024. But even as they mark the spread of political freedom, these elections are also taking place amid spreading illiberalism and creeping disillusionment.

We’re also reading . . . 

• SoftBank’s bad bet: Was IRL the next Facebook or a fraud? SoftBank claims it was duped into investing $150mn, while the app’s founder says he was a scapegoat. Ex-employees say there were problems from the start.

• Inflation: The US, UK and eurozone are on course to declare victory against inflation this year, but difficult trade-offs await, writes Chris Giles.

• Russian murderers: Thousands of prisoners convicted of gruesome crimes have been pardoned in exchange for fighting against Ukraine, to the horror of victims’ families.

Chart of the day

US companies have been piling into the convertible bond market as they search for ways to keep their interest costs down, in a rare flurry of activity in otherwise subdued corporate fundraising markets.

Take a break from the news

From boating in Arizona to opera in Versailles — don’t miss this month-by-month guide to travel for the year ahead, which details 43 holidays to take in 2024.

Additional reporting by Gordon Smith and Tee Zhuo