Cover Story
Issue 01Pakistan Prime Minister Shehbaz Sharif said the United States and Iran have agreed on the wording of an accord aimed at ending their conflict and that finalization is expected within 24 hours. He said Pakistan is preparing for the agreement to be signed electronically once the process is completed.
Pakistan Prime Minister Shehbaz Sharif said the United States and Iran have agreed on the wording of an accord aimed at ending their conflict and that finalization is expected within 24 hours. He said Pakistan is preparing for the agreement to be signed electronically once the process is completed.
Former Bersatu deputy president Hamzah Zainudin on June 13 launched Parti Wawasan Negara, a new party aligned with opposition coalition Perikatan Nasional. The party is scheduled to hold its first annual general assembly next week, while PAS is set to decide next Wednesday on Bersatu’s status in the coalition after ending political cooperation.
Daniel Kretinsky is expected to buy an additional stake in West Ham United from the Gold family, increasing his ownership from 27% to 43% and making him the club’s largest shareholder. Reports said the transaction could be completed within weeks and would add funding for the club.
Poland plans to end fuel price-capping measures during the summer after extending a reduced VAT rate and maximum fuel prices through the current period, while not prolonging an excise-duty cut. Separately, the United States and Iran have indicated that terms for an agreement to end the conflict are close to finalization.
China's motorcycle industry association issued a public proposal urging manufacturers, exporters and parts suppliers to avoid steep discounting and disorderly competition, strengthen intellectual property protection, improve product quality and coordinate overseas market practices. China exported 18.23 million motorcycles in 2025, according to the association.
The World Bank said in its latest Global Economic Prospects report that it expects global growth of 2.5% in 2026, down from 2.9% in 2025. It cited higher energy prices, firmer inflation and increased borrowing costs linked to conflict in the Middle East, calling the pace the weakest since 2019.
The International Labour Organization adopted Convention No. 193 at the International Labour Conference in Geneva on June 12, 2026, creating the first binding international standards for digital platform work. The measure establishes rules covering employment protections for gig workers and includes international provisions on algorithmic management.
The Justice Department's Antitrust Division closed its eight-month review of Paramount Skydance's planned roughly $110 billion purchase of Warner Bros. Discovery, saying the transaction is unlikely to reduce competition in streaming, linear television, or theatrical film distribution. The approval was issued without conditions and did not require asset sales.
Pakistan is due to present a federal budget of more than Rs17 trillion for fiscal year 2026-27 on Friday, combining revenue increases and spending restraint while seeking to protect lower-income households. Average CPI inflation was reported at 6.7% in July-May, with price stability maintained despite higher energy-price pressure linked to the Gulf conflict.
Fuel stations in Crimea ran out of petrol on Thursday, according to Reuters witnesses, after new Ukrainian drone strikes on supply routes. The developments came as Russian authorities said domestic gasoline supplies remained sufficient, highlighting disruption in the peninsula linked to the latest attacks.
Flutter said it intends to delist from the London Stock Exchange in August 2026 and retain its primary listing on the New York Stock Exchange. The company said the move reflects trading activity in its shares on the LSE and the additional costs associated with maintaining the listing.
The World Bank said global growth is projected at 2.5% in 2026, down from 2.9% in 2025, marking the weakest pace since the COVID-19 period. It said a scenario involving larger energy supply disruptions and significant financial market stress could reduce growth to 1.3%.
Trump said the United States is close to an agreement with Iran to de-escalate the conflict and that planned strikes set for Thursday were canceled. Reports said the discussions include reopening the Strait of Hormuz to shipping, while Iranian officials said no final decision has been made.
Aluminum prices reached a high of $3,654.02 on May 1, 2026, up 1.66% from a month earlier.
Oil prices rose by more than $1 after Iran said the Strait of Hormuz was closed following additional U.S. strikes on Iranian cities. The move raised concerns over Middle East supply flows, while the U.S. Energy Information Administration said lower 2026 demand could limit the impact of disruption on prices.
The United States launched a second round of airstrikes on Iran early Thursday after Trump said additional attacks could follow if Tehran does not accept a deal. Iran responded with strikes toward Bahrain, Kuwait and Jordan, while negotiations remained unresolved and oil prices rose amid Strait of Hormuz tensions.