Five Things You Need to Know to Start Your Day: Asia

US seeks to minimize Iran-Israel escalation. Bitcoin ‘halving’ set to rock the crypto industry. India releases election manifesto. Here’s what you need to know today.

Israel and allies including the US, UK and France managed to mostly foil an unprecedented attack by Iran on the Jewish state, after more than 300 drones and missiles were fired on Saturday evening. But the attack has left the world on tenterhooks, with both countries saying their rivalry hasshifted. Iran called it a “new equation” in which Israel had to know it could be attacked again, while Israel vowed to hit any nation that attacks it. US officials and their allies are now focusing their efforts on ensuring any retaliation from Israel doesn’t raise the stakes too high. Here’s our live blog on the weekend’s attack and its effect on markets; this is how airlines are confronting fresh disruption cause by the attacks; and columnist Andreas Kluth analyzes the steps Joe Biden must take to punish Iran diplomatically while also restraining Israel.