• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Middle EastDonald Trump

Trump expects to sign a deal with Iran on Sunday, but Tehran may want to avoid giving him a gift on his birthday

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
June 13, 2026, 4:26 PM ET
Donald Trump gestures by his birthday cake, created by Club 47, during a campaign rally as he celebrates his 78th birthday at West Palm Convention Center, in West Palm Beach, Florida, on June 14, 2024.
Donald Trump gestures by his birthday cake, created by Club 47, during a campaign rally as he celebrates his 78th birthday at West Palm Convention Center, in West Palm Beach, Florida, on June 14, 2024.JIM WATSON/AFP via Getty Images
Add Fortune on Google for similar content.

A memorandum of understanding that ends the Iran war and reopens the Strait of Hormuz could be imminent, after weeks of dashed hopes and on-again, off-again talks.

Recommended Video

But the timing of an MOU could emerge as a last-minute snag.

President Donald Trump insisted on Saturday that he will sign a deal on Sunday, which also happens to be his 80th birthday.

That came after Pakistan’s prime minister said earlier on Saturday that an agreement is closer than “ever before” and expected it to be finalized within 24 hours.

Pakistan, which has served as a mediator between the U.S. and Iran, is preparing for an electronic signing, followed immediately by technical-level talks next week.

But Tehran pushed back, with its Fars News Agency denying that anything will be signed on Sunday and instead dismissing “Trump’s strange insistence” for that day.

“An hour ago, Trump once again emphasized that the memorandum of understanding with Iran will be signed on Sunday,” it said in a post on X. “This comes even as Iranian officials have explicitly stated that the agreement has not been finalized and will definitely not take place on Sunday.”

Iran’s foreign ministry also maintained that the MOU will not be signed on Sunday—but didn’t rule out that it could happen in the coming days.

To be sure, there have been several times when it looked like both sides were on the verge of a deal, but nothing happened. Reading between the lines this time, however, Iran watchers see a less substantive issue at play.

“They don’t want to give Trump a birthday gift! (seriously, this is being discussed as an important factor among Iranian commentators),” said Hamidreza Azizi, an analyst at SWP Berlin.

Eurasia Group analyst Gregory Brew agreed, and also quipped, “Seems fitting that this should serve as the endgame.”

He predicted the MOU could be signed when it’s Sunday night in the eastern U.S., but early Monday morning in Iran.

Of course, more serious matters could still derail the MOU. For example, Iran has vowed to charge fees on ships crossing the Strait of Hormuz, a non-starter for the U.S.

Tehran is also demanding immediate sanctions relief and the unfreezing of assets, while the U.S. has said that could come in phases as Iran satisfies its end of the bargain, especially on winding down its nuclear program.

The U.S. and Iran are also still exchanging fire, with Central Command saying Friday that U.S. forces shot down Iranian drones that were targeting commercial ships transiting the Strait of Hormuz.

Meanwhile, Trump is planning other birthday activities. On Sunday, UFC will stage a fight on the South Lawn of the White House, the first such event at the executive mansion.

The mixed martial arts spectacle, which features a giant claw-like structure that was built around UFC’s Octagon, is timed for Trump’s birthday and the celebration of the nation’s 250th anniversary.

Last year, Trump celebrated his 79th birthday with a military parade along the streets of Washington, DC, that coincided with the Army’s 250th birthday.

But when asked by a reporter recently what he wished for his birthday this year, he replied, “Peace for the world.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Middle East

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Middle East

Money talks—as the Iran war continues, options for the Strait of Hormuz are coalescing around one solution— tolls
Middle EastShipping
Money talks—as the Iran war continues, options for the Strait of Hormuz are coalescing around one solution— tolls
By Melissa HancockJuly 21, 2026
4 days ago
Shipping transits slow to a trickle as Strait of Hormuz faces “worst-case scenario” 
NewslettersFortune Gulf Brief
Shipping transits slow to a trickle as Strait of Hormuz faces “worst-case scenario” 
By Melissa HancockJuly 21, 2026
4 days ago
Markets brace for return to all-out war in Iran amid rising U.S. death toll, while former NATO commander warns Suez Canal could be next
Middle EastIran
Markets brace for return to all-out war in Iran amid rising U.S. death toll, while former NATO commander warns Suez Canal could be next
By Jason MaJuly 19, 2026
5 days ago
U.S. military announces the death of another service member, blaming the ‘controlled detonation’ of a downed Iranian drone in Iraq
Middle EastIran
U.S. military announces the death of another service member, blaming the ‘controlled detonation’ of a downed Iranian drone in Iraq
By Jon Gambrell, Sam Metz, Ben Finley and The Associated PressJuly 19, 2026
5 days ago
The world is looking ahead toward a post-Iran oil market that offsets most Hormuz volumes in a few years as ships reject a U.S.-backed alternate route
Middle EastOil
The world is looking ahead toward a post-Iran oil market that offsets most Hormuz volumes in a few years as ships reject a U.S.-backed alternate route
By Jason MaJuly 19, 2026
6 days ago
Iran claims U.S. hit its nuclear site — satellite images show mostly dirt. But return to all-out war is nearly inevitable
Middle EastIran
Iran claims U.S. hit its nuclear site — satellite images show mostly dirt. But return to all-out war is nearly inevitable
By Jon Gambrell, Sam Metz and The Associated PressJuly 19, 2026
6 days ago

Most Popular

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
24 hours ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
21 hours ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
3 days ago
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
AI
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet's business model
By Mia OsmonbekovJuly 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.