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Commentary: Iranians cannot just ‘take back’ their country after US-Israel strikes

Even after the death of Supreme Leader Ayatollah Ali Khamenei and numerous senior leaders, there has been no popular uprising so far, says war studies lecturer Samir Puri.

Commentary: Iranians cannot just ‘take back’ their country after US-Israel strikes
A woman with her child looks at the aftermath of an Israeli and US strike, in Tehran, Iran, Mar 2, 2026. (Majid Asgaripour/West Asia News Agency via Reuters)
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05 Mar 2026 06:00AM (Updated: 05 Mar 2026 08:36AM)
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SINGAPORE:On Saturday (Feb 28), the day the United States launched its attack on Iran, President Donald Trump used his speech to speak directly to the Iranian people: “When we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations.”

So far, there has been no popular uprising to “take back” the country from the regime, even after the killing of Supreme Leader Ayatollah Ali Khamenei. But the question is: Can Iranians rise up to bring the regime down?

Iran's regime has not instantly collapsed, despite being battered in the US-Israeli assault and the deaths of the ayatollah and numerous senior leadership figures. It appears intent on fighting on and projecting a sense of continuity in its wartime leadership. Some US officials are also reportedly sceptical of achieving regime change.

Recognising the complexity of the task, Mr Trump has now estimated the US offensive on Iran will last four to five weeks but could “go far longer than that”.

AIR POWER ALONE CANNOT TOPPLE REGIMES

The history of coercive bombings campaigns does not support the assumption that air power and airstrikes alone can topple and replace regimes.

Regime change against the Taliban in Afghanistan in 2001 and Saddam Hussein in Iraq in 2003 required land invasions by US-led coalitions. In both countries, there were also local opponents of these regimes (specifically, the Northern Alliance in Afghanistan, and Kurdish forces in northern Iraq) to add to the equation.

When Muammar Gaddafi was toppled in Libya in 2011, US, British and French forces limited their roles to air power and airstrikes, but in support of ground fighting against Gaddafi’s regime was conducted by local Libyan forces. Nor did this have a neat end, leading to civil wars that persisted, on and off, until 2020.

In Iran, there are plenty among its 90 million-plus population who despise the theocratic regime. There have been many angry protests against the government, most recently in 2019 (initially over fuel prices) and between 2022 and 2023 (after the death of a young woman in police custody).

Many also rose up in nationwide protests in December and January, sparked by soaring inflation, and were subsequently killed by the regime’s security forces. This recent episode is almost certainly what gave Mr Trump confidence to call for a popular uprising.

NO ORGANISED ANTI-REGIME EFFORT

However, Iran’s anti-regime opposition is not properly organised and much of it is not armed, while the regime is firmly embedded in Iranians’ lives – it directly controls the government, the military and vast sectors of the economy.

There is currently little chance that an alignment emerges between different parts of Iranian society that oppose the regime. These groups include the urban protestors that took to the streets in recent months in the Persian heartlands; the Kurds in western Iran; and the Baloch in eastern Iran. They dislike the regime for different reasons and are unlikely to unite to coherently challenge the regime.

That said, it is possible that some may try seizing control of small localities. Some localised regime breakdown is possible given the vastness of the country, given the difficulty the regime may face in maintaining wartime control of all of Iran’s territory.

But local uprisings will be very different to taking control of the seat of government in Tehran. Moreover, no unifying figure Iranian opposition figure has emerged so far, whether in Iran or in exile, to claim the mantle and rally the opposition. No clear leader has been able to paint a vision of the day after any regime collapse.

In cities like Tehran, many Iranians may be too traumatised by the airstrikes and the very real possibility of the war escalating further to risk mounting an uprising. Even if elements of the Iranian population now rise up, the most likely outcome would be a bloody civil war in which the Iran Revolutionary Guard Corps (IRGC) violently suppresses them.

Protestors taking to the streets would not be enough to tip the situation now, unless this happens concurrently with Kurdish and Baloch insurgencies, but this would be more likely lead to protracted civil war rather than definitive regime change.

DIFFERENT PICTURE OF SUCCESS FOR US AND ISRAEL

Despite the Israeli and American militaries collaborating closely when striking Iran, it cannot be assumed that Mr Trump and Israeli Prime Minister Benjamin Netanyahu will be on the same page when it comes to the scope of the mission or how success will be determined.

Mr Trump’ stated goals for “Operation Epic Fury” have already shifted since day one. On Mar 2, he spelled out four goals that focused on narrower military and strategic aims: destroying Iran’s missile capabilities; annihilating its Navy; preventing Iran from obtaining a nuclear weapon; and stopping Iran from supporting terrorist groups like Hezbollah outside its borders.

But given how Mr Trump initially framed the situation, there is every chance that if the war drags on for longer than he would like, he could ultimately declare “mission accomplished” – and blame any lack of real regime change on Iranians for not acting on the opportunity the US and Israel have given them.

Israel has now widened its “Operation Lion’s Roar” to include Lebanon, striking the Iran-backed Hezbollah armed group, whereas the US military remains focused on attacking the Iranian regime. If Iran is simply left in a state of chaos and weakness, this outcome will suit Israel.

The history of recent wars, interventions and uprisings in the Middle East and Afghanistan is messy. It has given rise to the aphorism of “replacing tyranny with chaos”, meaning that toppling or weakening a despotic regime only begets more suffering and instability. 

Iran threatens to become the latest example of this.

Dr Samir Puri is Visiting Lecturer in War Studies at King’s College London. His books include The Great Imperial Hangover and Westlessness.

Source: CNA/ch

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Travel

I spent 5 days aboard the Disney Adventure cruise – a full review of rooms, rides, food and merch

Planning to sail on the Disney Adventure? CNA Lifestyle’s Joyee Koo spent five days and four nights aboard during a media preview sailing to find out what guests can expect, along with a few helpful tips before you board.

I spent 5 days aboard the Disney Adventure cruise – a full review of rooms, rides, food and merch

The best photo spot at Disney Imagination Garden. (Photo: CNA/Joyee Koo)

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09 Mar 2026 04:51PM
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The Disney Cruise Line has arrived in Asia with the launch of the Disney Adventure, which will sail out of Singapore for the next five years. Its maiden voyage departs on Tuesday (Mar 10). The highly anticipated ship has already drawn huge interest from Disney fans, with sailings quickly snapped up as travellers look forward to experiencing Disney magic at sea.

But does the cruise live up to the hype?

I recently spent five days and four nights on board during a media preview sailing, exploring everything from the longest roller coaster at sea to Broadway-style shows and character encounters around the ship. Here are some things to know if you're going on a voyage, or still considering the trip.

BEFORE BOARDING: DOWNLOAD THE APP, BRING A LANYARD

Before you even arrive at the Marina Bay Cruise Centre, there are two small things you should do to make navigating the ship much easier.

First, download the Disney Cruise Line app and enter your reservation number in advance. Once you’re checked in, the app becomes your main guide on board, listing daily activities, character appearances, showtimes and dining schedules. You’ll also need it to book certain experiences such as the Ironcycle Test Run roller coaster, so it’s worth getting familiar with it early. While the ride itself is complimentary, reservations may be required due to limited slots.

Another simple tip is to bring a lanyard. Your “Key to the World” card functions as your room key, identification and onboard payment method, so you’ll be carrying it everywhere during the voyage.

FIRST IMPRESSION: A SHIP THAT ALREADY FEELS MAGICAL

Exterior of the cruise ship. (Photo: CNA/Joyee Koo)

Arriving at the cruise terminal, it’s impossible to miss it. The ship is massive, towering over the port, and if you look up you’ll likely spot the Ironcycle Test Run roller coaster track looping around the top deck, which is also the longest roller coaster at sea.

Even before boarding, the Disney atmosphere is already in full swing. I had packed a few pieces of Disney merchandise myself for the trip and quickly realised I wasn’t alone. Guests arrived wearing Mickey ears, Disney T-shirts and themed accessories, and the energy feels similar to entering a Disney theme park.

STEPPING ON BOARD: THE SOUNDTRACK SETS THE MOOD

The last time I visited Hong Kong Disneyland, I remember feeling emotional the moment I stepped into the park. Disney music filled the air and banners of familiar characters lined the streets, instantly bringing back childhood memories.

That was the feeling I expected when going aboard the Disney Adventure.

While I won’t spoil the exact moment guests first board the ship, the welcome definitely sets the tone for the rest of the voyage. One of the biggest elements that creates that distinct feeling is the music. Disney soundtracks play throughout most public areas onboard, instantly putting you in that familiar Disney mood. At the same time, Disney artwork can be found all around the ship, from murals and sculptures to subtle design details inspired by different films.

As someone who grew up watching their films, I found myself humming along throughout the day and occasionally singing when a favourite song came on. At one point, The Lion King soundtrack started playing and I had to resist the urge to belt out the opening lines of Circle of Life.

Town Square. (Photo: CNA/Joyee Koo)

STATEROOMS: COMFORTABLE CABINS WITH SUBTLE TOUCHES

Little Mermaid-themed stateroom. (Photo: CNA/Joyee Koo)

Like most cruise ships, this one offers several types of staterooms, including interior rooms, ocean-view cabins and verandah staterooms. The main difference here is that each room is themed after a Disney character.

My room featured The Little Mermaid. The theme was quite subtle, mainly expressed through the mural and artwork on the wall rather than being overly decorative, so the design still feels comfortable and elegant even if you are not a hardcore Disney fan. The room themes are assigned randomly, so unfortunately you will not be able to choose one when making your booking.

View of Discovery Reef from a stateroom. (Photo: CNA/Joyee Koo)

My stateroom also came with a verandah. The moment I stepped outside, I was greeted with a sweeping view of Discovery Reef, one of the ship’s main themed areas inspired by Finding Nemo. The whole space below looks like an underwater world.

The Deluxe Staterooms can accommodate up to four guests thanks to a sofa bed. The area can be cordoned off with a curtain, which helps make the space feel more comfortable and private. The bathroom is also split into two sections, with one area for the toilet and sink and another for the shower. This layout is particularly convenient if several people are getting ready at the same time.

There are also plenty of storage compartments around the cabin, which is important for a small cruise room, as well as charging outlets with USB, two-pin and three-pin plugs located near the bed and dressing table.

The rooms also come with a TV loaded with movies and shows. Yes, many of us already have Disney+ at home, but there is something quite special about watching a Disney movie while on a Disney cruise. It quickly became one of the things I looked forward to when returning to the room at the end of the day.

SPLURGING ON THE SUITES

For guests looking to elevate the experience, the ship also offers themed suites, including designs inspired by characters like Jasmine and the Marvel movies. The most luxurious options are the Frozen-themed suites, which span large living areas and include private patios.

Suite guests also receive access to a dedicated concierge lounge, along with exclusive benefits such as private dining areas, spa access and even a concierge-only merchandise store.

FINDING YOUR WAY AROUND THE SHIP 

Be prepared to walk a lot on Disney Cruise Line’s largest ship. 

The ship itself is divided into three main sections: forward, mid and aft. While the layout becomes easier to understand after a day or two, I have to admit I still managed to get lost a couple of times, even on the final day.

Some decks don’t connect directly, so you may need to take an elevator or stairs before reaching your destination. When in doubt, the crew members stationed around the ship are always happy to help point you in the right direction.

Walking across the ship is often more enjoyable from the top deck, where you can enjoy ocean views and fresh sea air.

IMAGINATION GARDEN: THE HEART OF THE SHIP

One of the most impressive areas is the Disney Imagination Garden. As you walk through a corridor and the space suddenly opens up, you’re greeted with a garden-inspired amphitheatre featuring greenery, open space and a stage framed by a pink castle.

It’s one of the most photographed spots on the ship, and for good reason. If you happen to be there when it’s quiet, it’s worth snapping a photo before the crowds arrive and a queue starts forming. There are also photographers stationed around the ship at various times of the day, so you can have a professional photo taken and purchase the digital or printed copy afterwards.

Several live performances take place here, including the Let’s Set Sail show to kick off your holiday with a high-energy deck party with captains Mickey and Minnie, and their friends on the first day. Another standout performance is Avengers Assemble, where Marvel superheroes appear dramatically across the space.

As a Marvel fan, this was easily one of my favourite shows on board. The action unfolds across the entire garden space, so you’ll find yourself constantly turning your head to see what’s happening next. I enjoyed it so much that I honestly wished I had watched it twice.

In addition to the outdoor performances, there are also large-scale theatre productions at the Walt Disney Theatre. One of the main shows is Remember, which follows a robot named Airo as he journeys through memories inspired by Disney films, with appearances from characters from movies such as Coco and Wall-E

The Remember Me segment from Coco was particularly moving, and I may have gotten a little teary. The show is pre-assigned along with your dinner seating as part of the rotational dining schedule, so you do not have to worry about missing it or rushing between dinner and the theatre. Seats are first come, first served, so it is still worth arriving earlier for a better view.

DISCOVERY REEF: AN UNDERWATER WORLD THAT TRANSFORMS AT NIGHT

Another visually striking area of the ship is Discovery Reef, inspired by Finding Nemo. The entire space is designed in shades of blue with coral-like structures and ocean-inspired decor, making it feel as though you’ve stepped into an underwater world.

During the day, the area feels lively and colourful as guests move between the restaurants and attractions located there.

But what I enjoyed most was walking through the space at night. The lighting transforms the space into something calmer and more atmospheric. The same is true for Imagination Garden, which illuminates beautifully after dark and feels even more magical in the evening.

One of my favourite routines during the trip was taking a quiet stroll around the ship late at night. That’s one of the best things about being on a cruise. The ship is always open for exploration and you can simply step out whenever you feel like it.

SAN FRANSOKYO STREET: A BIG HERO 6 PLAYGROUND

One of my personal favourite areas of the ship is San Fransokyo Street, inspired by the Disney film Big Hero 6. The name itself is a playful blend of San Francisco and Tokyo, and the design reflects both cities in a surprisingly immersive way. As soon as you step in, you will hear train station announcements reminiscent of Tokyo’s subway system, along with design elements that make the space feel like a bustling street scene.

The area is filled with interactive games that guests can play for free, and I quickly realised it was very easy to lose track of time here. Some of the games test your reflexes, while others challenge your memory or agility. I found myself spending far longer than expected trying to beat my own high scores.

San Fransokyo Street is also home to the ship’s cinema, where Disney movies play throughout the day. Guests can simply walk in and out without needing to make reservations, which makes it an easy stop if you want to take a break between activities. You might even spot Baymax around for a quick photo.

Hidden within this zone are also a couple of rooms with foosball tables, Nintendo Switch consoles and ping pong tables, though these are reserved for teenagers.

ACTIVITIES TO FILL YOUR DAYS 

Beyond the rides and shows, there are also plenty of smaller activities happening around the ship throughout the day.

Depending on the schedule, guests can take part in activities such as quizzes testing their knowledge of songs, attend open mic karaoke sessions or learn how to draw characters from the ship’s artists.

If you are travelling with friends or family and want a more private sing-along session, you can also book your own karaoke room for an additional fee.

Wayfinder Bay. (Photo: CNA/Joyee Koo)

Another area worth checking out is Wayfinder Bay, located at the aft of the ship. This open-air, Moana-themed space feels like a laid-back island oasis and is a nice spot to unwind while enjoying the ocean breeze.

During the day, the venue hosts family-friendly performances such as Moana: Call Of The Sea. At night, the atmosphere shifts with live music or DJ sets, making it a relaxed place to sit back on one of the sun beds with a cocktail and enjoy the sea view.

FOR FAMILIES: KIDS CLUBS AND PRINCESS ENCOUNTERS

Families travelling with children will find plenty of spaces designed specifically for younger guests.

The Oceaneer Club features several themed play areas, including sections inspired by Toy Story, Spider-Man and the classic attraction It’s A Small World. Walking past the entrance, I could not help but feel a little jealous of the kids. The Toy Story playground in particular looked incredibly fun.

Adults usually are not allowed inside the club while children are playing, but there are designated open house sessions where parents can step in to take a look and snap a few photos.

On the top deck, there is also the Toy Story Splash Zone designed for toddlers and young children. The colourful play area includes water features and the Slide-a-saurus Rex family slide, where kids can splash around and cool off while parents relax nearby.

Young guests aged three to 12 can also participate in the Royal Society for Friendship and Tea, a princess-themed high tea experience where they can meet and interact with Disney princesses in a ballroom setting. This experience comes at an additional cost. Unfortunately, you will only be able to join if you are accompanied by a child, so you might have to borrow a niece or nephew if you want to check it out.

Another magical experience for kids is the Bibbidi Bobbidi Boutique. Here, children can be transformed into their favourite characters such as a princess, knight or even a sea captain with themed costumes, hairstyling and accessories. The makeover sessions are also available at an additional cost.

For adults who still want their own princess moment, there is also the Royal Gathering, where guests can meet several Disney princesses and take photos together.

FOR THE MARVEL FANS

Marvel fans will find plenty to do around the ship.

One of the places to start is the Marvel Style Studio, where guests can transform into their favourite superheroes. The experience needs to be booked in advance and comes at an additional cost. You can get your face painted or styled, and afterwards pose with props such as Captain America’s shield or Thor’s hammer for photos. There is also a photography studio nearby where you can take more professional shots after your makeover.

For something more adrenaline-filled, head up to Marvel Landing on the top deck.

This adventure zone is the first of its kind for Disney Cruise Line and features rides inspired by characters from the Marvel universe. There are family-friendly attractions themed around Groot from Guardians Of The Galaxy and Ant-Man, along with other interactive experiences for younger guests.

But the biggest highlight here is undoubtedly the Ironcycle Test Run.

Inspired by Iron Man, the ride places guests on motorcycle-style seats as they zoom around the ship’s upper deck. It is not only the first roller coaster on a Disney Cruise Line ship, but also the longest roller coaster at sea.

At first glance, the track does not look particularly intimidating. But once the ride begins, it is surprisingly thrilling. Riders go through two laps. The first round is controlled automatically so you can get a feel of the track and enjoy the views around the ship. At one point, the ride dips in a way that makes it feel like you are zooming straight towards the open ocean, which definitely got my heart racing.

The second lap is where things get even more exciting, as riders can control the speed themselves. Naturally, I went full throttle. A couple of people watching the ride later told me I am definitely a screamer on roller coasters. Judging by how loud I was during the ride, they are probably not wrong.

Just like rides at theme parks, the roller coaster also snaps a photo of you mid-ride. So get your best expressions ready. Or embrace the screaming face, which might end up being the best souvenir of the moment. So remember to book a spot on the Disney Cruise app as soon as you board. 

DINING: FROM BURGERS TO IMMERSIVE DISNEY DINNERS

 

Food is another highlight of the cruise, with a range of complimentary dining options available throughout the day.

Breakfast buffets feature international selections and one of the breakfast spots is Pixar Market, where each section of the restaurant is themed after a different Pixar movie. Even the ceiling lights change depending on the section, which is a fun detail to look out for.

If you get hungry between meals, there are several casual eateries across the ship. One of my favourites was Stitch’s Ohana Grill, where you can order different types of burgers with sides like fries. If you are a fan of blue cheese like me, the Black & Blue burger is a must try. The sweet potato fries were particularly good too.

Another surprisingly addictive item was the fried chicken from the Moana-inspired Gramma Tala’s Kitchen, which I found myself going back for more than once. If you are in the mood for Mediterranean flavours, there is also Cosmic Kebabs, which serves halal dishes. There is also Bewitching Boba and Brews, a casual cafe themed after the Disney classic The Little Mermaid, serving bubble tea and other drinks.

On the top deck, you will also find complimentary pizza and soft serve ice cream stations. It is the perfect combination for a sunny afternoon by the pool. There are also beverage stations around the ship where guests can help themselves to soft drinks, water and TWG tea throughout the day, so you can easily stay hydrated.

At night, guests take part in rotational dining, meaning you will be assigned to a different themed restaurant each evening while keeping the same serving team throughout the voyage. By the second night, the servers already remembered our preferences, which added a thoughtful personal touch to the experience.

One of the most memorable restaurants is Animator’s Palette. Before dinner begins, guests are asked to draw a character. Later in the meal, those drawings suddenly appear animated on large screens around the restaurant alongside everyone else’s creations. Seeing my own drawing come to life on the screen was a delightful surprise and one of those moments that makes you feel like a kid again. 

There is also the main dining room called the Navigator’s Club, where captain Mickey Mouse and his friends appear during dinner performances. Guests can watch them perform and also say hello when they make their rounds around the restaurant.

If you are celebrating a special occasion or simply want a more elevated dining experience, there are also premium restaurants onboard that require an additional fee. One of them is Mike and Sulley’s, which serves Japanese cuisine, along with a teppanyaki space where chefs cook right in front of guests. Even here, Disney fans will notice the attention to detail, including murals inspired by Harryhausen's, the Japanese restaurant scene from Monsters, Inc.

BARS AND LOUNGES: COCKTAILS WITH LIVE PERFORMANCE

Of course, it is not all family-friendly activities and character encounters. There are also several bars and lounges around the ship where adults can unwind with a drink.

One of the livelier spots is Buccaneer Bar, designed like a sports pub where guests can enjoy beers and cocktails while catching live sports or simply relaxing after a long day of activities.

For something a little more atmospheric, there is Tiana’s Bayou Lounge, where guests can sip cocktails while enjoying live music. The space also has plenty of seating and charging points, making it a comfortable place to sit back, relax or even catch up on some work.

There is also a hidden speakeasy-style bar located inside the Marvel Style Studio. During the day, the studio hosts superhero makeovers. At night, the space transforms into a lounge where guests can enjoy drinks or even take part in whisky-tasting sessions.

EXCLUSIVE DISNEY MERCHANDISE ON BOARD

For many Disney fans, part of the fun is bringing home a little piece of the experience.

There are several shops around the ship selling Disney merchandise, including items that are exclusive to the Disney Adventure. During my trip, I spotted items such as a Baymax water bottle, a colourful Dante bottle inspired by Coco, and a range of exclusive Duffy and Friends merchandise that fans will likely be excited to get their hands on.

You will also find Bacha Coffee and TWG tea cafes onboard where guests can enjoy drinks and pick up exclusive Disney-themed merchandise that can only be found on the ship.

FOR SOME RELAXATION: SPA AND WELLNESS FACILITIES 

Of course, if you want to slow things down after a full day of activities, the ship also has a spa and wellness area where guests can unwind.

The spa offers a range of treatments such as massages, facials and salon services like hair and nail treatments, which come at an additional cost. Guests can also purchase a day pass to access the Rainforest spa area.

Inside, you will find facilities such as jacuzzis, saunas, steam rooms and heated loungers overlooking the ocean. After spending the day walking around the ship, it felt like the perfect place to relax and recharge.

There is also a well-equipped gym onboard with floor-to-ceiling windows overlooking the ocean, perfect if you want to squeeze in a workout and work off some of the food from the many restaurants onboard.

Another place to unwind is the Infinity Pool and Bar at Marvel Landing, located at the stern of the ship. The open-air space offers sweeping ocean views and features playful nods to the legendary Infinity Stones. Guests can take a dip in the pool or relax on the loungers with tropical drinks and light bites.

Infinity Pool at Marvel Landing. (Photo: CNA/Joyee Koo)

FIREWORKS AND CHARACTER SIGHTINGS 

Of course, no Disney experience would be complete without the characters.

Meeting Disney characters around the ship is included as part of the cruise experience, and the Disney Cruise Line app lists where and when they will appear. On my trip alone, I ended up spotting 35 characters across the ship, including those that appeared during the shows.

Another highlight of the voyage is the Lion King fireworks show narrated by Shah Rukh Khan. Guests gather on the top deck as fireworks light up the night sky against the ocean backdrop while The Lion King soundtrack plays.

If you want a good view or plan to capture photos and videos, it is worth heading up about 15 to 30 minutes earlier to secure a good spot.

With its powerful score, there is really no better soundtrack for fireworks at sea. Watching the fireworks explode above the ocean while the familiar music swells is a pretty magical way to end the evening.

The Lion King: Celebration in the Sky. (Photo: CNA/Joyee Koo)

A FLOATING DISNEY ADVENTURE

Unlike some cruises, the Disney Adventure does not dock at other destinations. The ship itself is the attraction.

Even on the final day, I was still discovering new corners of the ship and noticing little details I had missed earlier in the trip. There were also shows and activities that I did not manage to catch, which says a lot about how much there is to experience.

The cruise is undoubtedly a dream for Disney fans, but even those who are not die-hard fans will likely enjoy the experience. While Disney touches are everywhere, there are also areas where the theme is more subtle.

For me, the trip felt like revisiting some of the Disney films I grew up with while also discovering new ones that made me want to watch the movies afterwards.

And that, in many ways, is part of the magic.

Source: CNA/jk

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Asia

Asian equities plunge as oil soars 30% on Middle East crisis

Asian equities plunge as oil soars 30% on Middle East crisis

Electronic quotation boards displaying the Nikkei Stock Average (left) on the Tokyo Stock Exchange and the foreign exchange rate of the Japanese yen against the US dollar (right) along a street in Tokyo on Mar 9, 2026. (Photo: AFP/Kazuhiro NOGI)

09 Mar 2026 10:50AM (Updated: 09 Mar 2026 12:06PM)
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HONG KONG: Asian stock markets plunged Monday (Mar 9) as oil prices soared 30 per cent on fears about supplies from the Middle East as the US-Israeli war against Iran continued into a second week with no sign of letting up.

Investors, already spooked by concerns over extended tech valuations and the huge spending on AI, ran for the hills as crude rocketed to its highest level since the Russian invasion of Ukraine in 2022.

Fears grew that the Middle East conflict could last for some time after US President Donald Trump said only the "unconditional surrender" of Iran would end the war.

He added at the weekend that the spike in prices was a "small price to pay" to eliminate Iran's nuclear threat, reiterating the White House's insistence that the rise is temporary.

Both main contracts, which had surged more than a quarter last week, spiked as Iran carried out retaliatory strikes against crude-producing Gulf nations.

West Texas Intermediate, the main US oil benchmark, jumped as much as 30 per cent to hit a high of US$118.88 per barrel, while Brent spiked 28 per cent to as much as US$118.73.

Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production, while the United Arab Emirates and Kuwait have started reducing output.

That came with maritime traffic in the Strait of Hormuz - through which a fifth of global crude and gas passes - halted since the war began on Feb 28.

"The global economy remains dependent on the concentrated flow of Mideast oil and natural gas through the Strait of Hormuz," noted Bruce Kasman, chief economist at JPMorgan.

"The near-term scenario is a near-term spike towards US$120 per barrel followed by moderation as the conflict soon subsides," he added. 

"But absent a clear and decisive political resolution, Brent crude oil prices are expected to settle at an elevated US$80 per barrel through mid-year."

Such an outcome could cut global economic growth by an annualised 0.6 per cent for the first half of this year and raise consumer prices by an annual rate of 1 per cent, Kasman said.

He cautioned that a broader and sustained conflict could send oil well above US$120 a barrel and risk a global recession.

The prospect of high energy prices for a sustained period has fanned fears of a fresh spike in inflation that could hit the global economy while preventing central banks from cutting interest rates to support growth.

With the prospect of the global economy taking a blow from the crisis, equity markets extended last week's losses.

Seoul, which had been the best performer this year thanks to a tech rally, tumbled more than 8 per cent at one point, while Tokyo shed 7 per cent and Taipei fell more than 5 per cent.

Hong Kong, Shanghai, Sydney, Singapore, Manila and Wellington were also sharply lower.

China is another big oil importer, though it also has a huge stockpile of crude; its blue-chip index fell 2.3 per cent.

China on Monday said inflation had already picked up in February ahead of the current oil spike, with consumer prices rising 1.3 per cent on the year. 

This is not necessarily a negative development, given that the country has long struggled with disinflation.

CENTRAL BANKS FACE INFLATION CONUNDRUM

The wave of market selling swept over Wall Street as S&P 500 futures shed 2.1 per cent, while Nasdaq futures dived 2.5 per cent. 

Over in Europe, EUROSTOXX 50 futures and DAX futures both slid 3.2 per cent, while FTSE futures dropped 1.7 per cent.

In bond markets, the risk of rising inflation outweighed safe-haven considerations to shove yields higher globally. 

Yields on 10-year Treasury notes rose 6 basis points to 4.204 per cent, up from a trough of 3.926 per cent just a week ago.

Interest rate futures slipped as investors feared the risk of higher inflation would make it harder for the Federal Reserve to ease policy, even though disappointing jobs numbers seemed to argue for stimulus.

Data on US consumer prices due on Wednesday is forecast to show the annual pace holding at 2.4 per cent in February.

The Fed's preferred measure of core inflation is out on Friday and is forecast to hold at 3 per cent, well above the central bank's 2 per cent target, and analysts see a risk of an even higher number.

The danger of energy-driven inflation has led markets to wager that the next move in rates from the European Central Bank could be up, possibly as early as June.

For the Bank of England, markets have shifted to pricing just a 40 per cent chance of one more easing, compared with two cuts or more before the Middle East conflict started.

Nervous investors sought the liquidity of dollars while shunning currencies from countries that are net energy importers, including Japan and much of Europe.

"Asia takes the brunt of the sharp escalation in oil prices and there are few places to run and hide," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho.

"The dollar has to be the one outperforming, given Japan and Korea's exposures here and the sharp pain that can be expected from Brent at US$107."

The dollar added 0.5 per cent to 158.64 yen, while the euro slipped 0.9 per cent to US$1.1514. 

The Australian dollar, often sold as a hedge during periods of market volatility, skidded 0.9 per cent to US$0.6964.

Gold fell 1.8 per cent to US$5,075 an ounce, with dealers speculating that investors were having to book profits made on the metal's long climb to cover losses elsewhere.

Source: Agencies/rl

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Oil prices push above US$110 a barrel as Iran targets Gulf energy installations

US President Donald Trump has dismissed the spike in oil prices as a "small price to pay" to eliminate Iran's nuclear threat.

Oil prices push above US$110 a barrel as Iran targets Gulf energy installations

Smoke rises following a strike on the Bapco Oil Refinery, amid the US-Israeli conflict with Iran, on Sitra Island Bahrain, Mar 9, 2026. (Photo: REUTERS/Stringer)

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09 Mar 2026 08:56AM (Updated: 09 Mar 2026 03:59PM)
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Stock markets in Asia fell sharply on Monday (Mar 9) after oil prices soared above US$100 per barrel threshold for the first time in almost four years, prompting governments to mull responses to reduce the impact on their economies.

US President Donald Trump, however, dismissed the spike as a "small price to pay" to eliminate Iran's nuclear threat, reiterating his insistence that the rise is temporary.

With the war now firmly into its second week, Iran has moved to consolidate power, naming Mojtaba Khamenei as the country’s new supreme leader following the death of his father, Ayatollah Ali Khamenei, in the opening days of the conflict.

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Source: CNA/gs

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Hezbollah says fighting Israeli forces who landed in east Lebanon

Hezbollah says fighting Israeli forces who landed in east Lebanon

People look at damage left by Israeli airstrikes on Mar 7, 2026, in the village of Nabi Chit, eastern Lebanon. (Photo: AP/Ali Salem)

09 Mar 2026 08:07AM (Updated: 09 Mar 2026 04:36PM)
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BEIRUT: Hezbollah said on Monday (Mar 9) it was fighting Israeli forces who landed in eastern Lebanon by helicopter across the Syrian border, the second such operation since the outbreak of the latest conflict with Israel.

Lebanon was drawn into the Middle East war last week when Iran-backed militant group Hezbollah attacked Israel in response to the killing of Iranian supreme leader Ayatollah Ali Khamenei during US-Israeli strikes.

Israel, which has kept up strikes targeting Hezbollah despite a 2024 ceasefire, launched multiple waves of strikes last week across Lebanon and sent ground troops into border areas.

In a statement on Monday, Hezbollah said it detected "the infiltration of approximately 15 Israeli enemy helicopters" from the Syrian side of the border in eastern Lebanon, an area where Hezbollah holds sway.

The group said its fighters "engaged the helicopters and the infiltrating force with appropriate weapons, and the confrontation" was ongoing.

Lebanon's state-run National News Agency (NNA) earlier reported "fierce clashes... towards the outskirts of the town of Nabi Sheet to repel Israeli forces that carried out a landing by helicopters" in the area.

Two Hezbollah officials in the Bekaa region, where Nabi Sheet is located, told AFP that an Israeli helicopter was downed.

The Israeli army did not immediately comment on the incident.

It is the second such attack after an Israeli commando operation in Nabi Sheet and its surrounding areas overnight Friday failed to find the remains of Ron Arad, an airman missing since 1986, killing 41 people.

BEIRUT STRIKES

In the Hezbollah stronghold of Beirut's southern suburbs, an AFP correspondent said a loud explosion was heard on Monday, with smoke seen rising from the area.

A brief statement from the Israeli military said it had "struck infrastructure belonging to the Hezbollah terrorist organisation in Beirut".

The area was pounded by Israel over the past week but had not suffered any strikes since Saturday.

The military had told residents of the Beirut suburbs as well as Lebanon's south - both strongholds of Hezbollah - to evacuate, warning of attacks against the militant group.

The NNA reported several strikes early Monday, including one on the town of Tayr Debba near the southern city of Tyre, which "resulted in an initial toll of three citizens martyred and 15 others wounded".

Closer to the Israeli border, Hezbollah said on Monday that it targeted Israeli soldiers entering the towns of Odaisseh and Aitaroun with artillery shells.

It also said it clashed with Israeli soldiers in Odaisseh.

Lebanon's health minister Rakan Nassereddine said on Sunday that Israeli strikes on Lebanon had killed 394 people over the past week, including 83 children and 42 women.

Israel's military said that two of its soldiers were killed in combat in southern Lebanon, the first fatalities among its forces since the latest offensive began on Mar 2.

Source: AFP/zl

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Trump defends Iran war decision as oil soars above US$100

US President Donald Trump dismissed the war-related spike in oil prices as a "small price to pay" for removing the threat of Iran's nuclear threat.

Trump defends Iran war decision as oil soars above US$100

A thick plume of smoke rises from an oil storage facility hit by a US-Israeli strike late in Tehran, as seen on Mar 8, 2026. (Photo: AP/Vahid Salemi)

09 Mar 2026 06:42AM (Updated: 09 Mar 2026 08:29AM)
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NEW YORK: Oil prices surged above US$100 a barrel for the first time in nearly four years on Sunday (Mar 8) over worries that the spiralling Middle East war could create prolonged supply disruptions.

Both crude oil benchmarks, the West Texas Intermediate (WTI) and Brent, jumped by over 15 per cent as markets opened Sunday evening, touching levels not seen since the early months of Russia's 2022 invasion of Ukraine.

US President Donald Trump, however, dismissed the spike as a "small price to pay" to eliminate Iran's nuclear threat, reiterating the White House's insistence that the rise is temporary.

"Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for USA., and World, Safety and Peace," he wrote on social media Sunday evening.

"ONLY FOOLS WOULD THINK DIFFERENTLY!" he argued.

Maritime traffic in the Strait of Hormuz - through which 20 per cent of global crude and gas passes - has all but halted since the war began on Feb 28.

Oil and gas producers around the Gulf have meanwhile begun to decrease output, while Israeli strikes on fuel depots in Tehran have raised fears of retaliatory attacks on neighbouring countries' infrastructure.

Soaring crude prices have already translated into rising costs at the fuel pump in the United States, a highly sensitive political issue heading into midterm elections in November.

"NO ENERGY SHORTAGE"

Earlier Sunday, Trump's energy chief Chris Wright argued that disruptions would be short-lived.

"Worst case, that's a few weeks. That's not months," the US energy secretary told CNN.

"They shouldn't go much higher than they are here because the world is very well supplied with oil," he added to CBS. "There's no energy shortage in all of the Western hemisphere."

He said the United States was now talking with shipping companies eager to get their vessels out of the Gulf.

"Early tankers probably will involve some direct protection by the US military" to get through the Strait of Hormuz, he said, adding that he thought traffic would return to normal "relatively soon".

Flames rise from an oil storage facility after it was struck by an Israeli missile in Tehran, Iran, Jun 15, 2025. (Photo: AP/Vahid Salemi)

Iran accounts for about 4 per cent of world oil production, according to the US Energy Information Administration.

Its oil industry is subject to international sanctions but some oil is still exported, mainly to China, oil industry data shows.

US Treasury Secretary Scott Bessent said Friday that the government was considering lifting sanctions on more Russian oil, a day after it temporarily authorised India to buy from Moscow as global oil prices surged.

The US International Development Finance Corporation also said Friday that it was creating a reinsurance mechanism of up to US$20 billion to cover risk associated with travel through the Strait of Hormuz.  

Source: AFP/zl

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Who is Mojtaba Khamenei, Iran's new supreme leader?

Mojtaba Khamenei’s appointment as Iran’s supreme leader is the kind of hereditary transition that his father once rejected.

Who is Mojtaba Khamenei, Iran's new supreme leader?

Mojtaba Khamenei, the son of Iranian Supreme Leader Ayatollah Ali Khamenei, attends the annual Quds, or Jerusalem Day rally in Tehran, Iran, on May 31, 2019. (Photo: AP/Vahid Salemi)

09 Mar 2026 06:35AM (Updated: 09 Mar 2026 11:34AM)
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Mojtaba Khamenei, the son of late Iranian supreme leader Ali Khamenei, has been appointed to succeed his father as the new head of the Islamic Republic.

The younger Khamenei was named supreme leader by the top clerical body - the Assembly of Experts - in a statement published shortly after midnight on Monday (Mar 9) in Iran.

Other contenders for the top position had included Alireza Arafi, one of the three members of the interim council running the country, hardliner Mohsen Araki, and even Hassan Khomeini, the grandson of the founder of the Islamic Republic in 1979.

But ultimately, the assembly settled on Mojtaba Khamenei, 56.

A member of the council, Ayatollah Mohsen Heidari Alekasir, said in a video on Sunday that a candidate had been selected based on Khamenei's guidance that Iran's top leader should be "hated by the enemy".

"Even the Great Satan (US) has mentioned his name," Heidari Alekasir said of the chosen successor, days after US President Donald Trump said Mojtaba Khamenei was an "unacceptable" choice for him.

Born on Sep 8, 1969, in the holy city of Mashhad in eastern Iran, Mojtaba Khamenei is one of six children of the late supreme leader.

His father, who was killed aged 86 just over a week ago in Tehran, became supreme leader in 1989. 

His ascension to the position meant Mojtaba Khamenei and his family had access to the billions of dollars and business assets spread across Iran's many bonyads, or foundations, funded from state industries and other wealth once held by the shah.

A satellite image shows black smoke rising and heavy damage at Iranian Supreme Leader Ayatollah Ali Khamenei's compound, following strikes by the United States and Israel against Iran, in Tehran, Iran on Feb 28, 2026. (Image: Reuters/Pleiades Neo Airbus/Handout)

"POWER BROKER"

Because of his discretion at official ceremonies and in the media, Mojtaba Khamenei's true influence has been the subject of intense speculation for years among the Iranian population as well as in diplomatic circles.

Prior to his selection, the younger Khamenei had occupied a similar role to that of Ahmad Khomeini, a son of Iran's first Supreme Leader Ruhollah Khomeini - "a combination of aide-de-camp, confidant, gatekeeper and power broker”, according to United Against Nuclear Iran, a US-based pressure group.

He is the only child of the former supreme leader to hold a public position, despite having no official post.

The cleric, who has a salt-and-pepper beard, has been presented by some as acting behind the scenes to pull strings at the heart of power in Iran.

He is regarded as close to conservatives, notably because of his ties with the Revolutionary Guards, the ideological arm of the Islamic Republic's military.

That relationship dates back to his service in a combat unit at the end of the war between Iraq and Iran that lasted from 1980 to 1988.

During the war, Mojtaba Khamenei fought in the Habib ibn Mazahir Battalion. Several of the division's members later ascended to powerful intelligence positions within the force - likely with the backing of his family.

SECURITY FORCE LINKS

The US Treasury Department imposed sanctions on Mojtaba Khamenei in 2019 during President Donald Trump's first term, saying he represented the supreme leader "despite never being elected or appointed to a government position aside from work in the office of his father".

Ali Khamenei had "delegated a part of his leadership responsibilities" to his son, "who worked closely" with Iranian security forces "to advance his father's destabilising regional ambitions and oppressive domestic objectives", the Treasury said.

US diplomatic cables published by WikiLeaks in the late 2000s began referring to the younger Khamenei as “the power behind the robes”.

One recounted an allegation that Khamenei actually tapped his own father's phone, served as his “principal gatekeeper” and had been forming his own power base within the country.

He was accused of interfering in the 2005 and 2009 presidential elections, which resulted in the victory of Mahmoud Ahmadinejad, a populist hardliner, the BBC reported.

Reformist candidate Mehdi Karroubi accused Mojtaba Khamenei of interfering in the 2005 vote through elements of the Islamic Revolutionary Guard Corps and the Basij militia, which distributed money to religious groups in order to help Ahmadinejad win.

Four years later, Mojtaba faced the same accusation again. 

The re-election of Ahmadinejad triggered mass protests across the country known as the Green Movement.

Opponents have notably accused Mojtaba Khamenei of playing a role in the violent crackdown that followed the protests.

WEALTH

According to an investigation by the Bloomberg news organisation, which cited anonymous sources and Western intelligence agency reports, Mojtaba Khamenei has amassed wealth estimated at more than US$100 million.

Money from oil sales had been channelled into investments in luxury British real estate, hotels in Europe and property in Dubai through shell companies in tax havens, according to the investigation.

On the religious front, Mojtaba Khamenei studied theology in the holy city of Qom, south of Tehran, where he also taught.

He attained the rank of Hujjat al-Islam, a title given to mid-ranking clerics, below that of Ayatollah held by his father and by revolutionary leader Ruhollah Khomeini.

His wife, Zahra Haddad-Adel, daughter of a former speaker of parliament, also died in the US-Israeli strikes that killed the supreme leader, according to Iranian authorities.

Israel has issued a stark warning to the new supreme leader and whoever selected him, saying "the hand of the State of Israel will continue to follow any successor and anyone who seeks to appoint a successor".

The Assembly of Experts has 88 members who are elected every eight years.

It has only overseen one leadership transition process to date, when Khamenei was selected in 1989 following the death of Khomeini.

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Source: Agencies/nh/rl

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