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.
Approved on June 26, 2026, the package includes $300 million to finance 600,000 metric tons of fertilizer imports for the Aman and Boro rice seasons and $713 million in rapid-disbursing support for cash transfers, livelihoods, MSMEs, and fuel and energy supplies needed to maintain essential services.
CENTCOM said U.S. forces carried out strikes on June 26 against Iranian missile and drone storage locations and coastal radar sites after a one-way drone hit the Singapore-flagged container ship Ever Lovely on June 25 near Oman while it was following a UKMTO-recommended route.
Baltic officials are calling for the EU to move more quickly on ending residual Russian crude purchases, while the bloc’s current framework points to a full phase-out by end-2027. EU documents say Hungary and Slovakia are the only remaining member states still importing Russian crude and must submit diversification plans.
Official data released June 27 showed profits at large industrial firms rose 18.8% in January-May from a year earlier, while May growth eased to 21.1% from 24.7% in April. Revenue increased 5.5%, with profit gains led by electronics and nonferrous metals as autos and utilities lagged.
The U.S. 10-year real yield hit 2.29% on June 23, its highest level in 12 months and above the 2.24% seen in January 2025.
Brent oil posted an unusually sharp drop on June 22, 2026, falling 4.9% from the prior reading to $76.49 from $80.46.
BTC fell to 59778.75 on June 25, 2026, hitting its lowest level in 12 months and sitting 44.15% below its level a year earlier.
Technology-led indexes in Japan, South Korea, China and Hong Kong fell on June 26 after Apple’s move to raise iPad and MacBook prices highlighted rising memory costs, while a report that OpenAI could target a 2027 IPO pressured SoftBank and other AI-linked stocks.
Japan said two nationals were detained in Dalian on May 18 and May 25 on suspicion of smuggling prohibited goods. China said it notified Japanese officials of the case. Japanese media identified the detainees as Fuji Electric employees and reported one case involved products containing restricted rare-earth materials.
Cabinet Office materials released on June 24 estimate cumulative public and private investment of more than ¥370 trillion through fiscal 2040 across 62 products and technologies in 17 strategic fields, including semiconductors, AI and biotech. The government said the tally is provisional and separate from its earlier FY2040 annual domestic investment target of ¥200 trillion.
JPMorgan said Doug Petno and Troy Rohrbaugh were appointed co-presidents effective immediately as part of the board’s succession planning process. Petno will serve as sole CEO of the Commercial & Investment Bank, Rohrbaugh will lead Consumer & Community Banking, and Marianne Lake will retire after a transition period.
In a filing, Ares said investors sought repurchases equal to 14.4% of shares in its roughly $22.6 billion Ares Strategic Income Fund for the second quarter, up from 11.6% in the prior quarter. The non-traded private credit fund accepted 5% under its quarterly limit, with requests concentrated among a small group of non-U.S. institutions and family offices.
ZCCM Investments Holdings said on May 5, 2025 that delayed audits at key investee companies prevented publication of FY2024 audited results within UK and Zambian deadlines, prompting a request to suspend its London listing. The FCA restored the listing on July 14, 2025, before a new temporary suspension took effect on May 1, 2026.
Binance told users in several EU markets that, from 1 July 2026, regulated crypto-asset services will be restricted because no group entity will have MiCA authorisation by the 30 June deadline. The company withdrew its Greek application, plans to seek approval in another member state, and said clients can withdraw assets and reduce positions.
Draft directions issued June 25 would allow All India Financial Institutions and housing finance companies, excluding base layer NBFCs, to join the term money market as borrowers and lenders. RBI also proposed board-approved lending limits within existing exposure rules and raised standalone primary dealer borrowing and inter-corporate deposit caps to 400% of net owned funds from 225%.
Shipping traffic through the Strait of Hormuz continued after a vessel was attacked in the Gulf of Oman, while the International Maritime Organization temporarily paused its evacuation process on June 25 pending clarity. Recent counts showed transits had rebounded from the prior week, though still below prewar daily averages and subject to route controls and delays.
