Cover Story
Issue 01CENTCOM said its July 13 mission targeted Iranian air defense, radar, missile, drone and small-boat assets across several coastal locations and issued notice that a naval blockade regime resumes July 14. Regional media citing the UAE Ministry of Defence said two tankers in Omani waters were hit by two Iranian cruise missiles, with one fatality and multiple injuries.
Global stock indexes and bond prices rose while oil declined after President Donald Trump said the United States and Iran had signed a preliminary agreement that would extend a ceasefire by 60 days and reopen the Strait of Hormuz, though terms were not released and both sides said a permanent truce remains under negotiation.
President Tayyip Erdogan inaugurated Etimesgut Airport as Ankara Airport with the ANK code for domestic and international operations. The facility is set to receive aircraft carrying leaders attending the NATO summit, including US President Donald Trump, according to Turkish media and officials.
The International Labour Organization adopted its first international convention for gig and platform workers, establishing binding labor standards including protections regardless of employment classification and disclosure of how automated systems affect workers. The convention takes effect in member states 12 months after ratification.
Starbucks Korea said it will close all stores nationwide at 3 p.m. on June 22 to conduct mandatory training on historical awareness and social sensitivity. The move follows its May 18 promotion for stainless-steel tumblers branded as “SS Tank,” launched on the anniversary of the Gwangju Uprising.
Elliott Investment Management has disclosed a stake of almost 5% in Bunzl and is pressing the distributor to consider buying back up to 10% of its shares. The investor is also seeking a review centered on Bunzl’s North American operations after the company issued a profit warning last year.
Anthropic said it disabled its Fable 5 and Mythos 5 AI models for all users after a U.S. government directive required the company to suspend access for foreign nationals. A U.S. official said the Commerce Department issued the export control order, while Anthropic said access to its other models remains unchanged.
Singapore Exchange plans to launch an over-the-counter clearing system for Loco Singapore gold by the end of 2026, with DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC and UOB as clearing members. MAS said it will start central bank gold-vaulting services by October and remove a 5% cap on physical precious metals under eligible tax-incentive schemes.
Kenya is considering a $1.13 billion foreign bond issuance as it manages a budget deficit estimated at KSh1.146 trillion, or 5.5% of GDP. The central bank raised KSh8.45 billion in a June 15 tap sale of two long-term Treasury bonds, while the government has also used part of a $1.2 billion World Bank loan to repay 2014 Eurobond debt.
U.S. and Iranian officials said they reached an initial agreement to stop the conflict and resume shipping through the Strait of Hormuz, with a formal signing expected later this week and nuclear issues left for further talks. Oil prices fell and global equities advanced after the announcement.
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.
