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The Strait of Hormuz is expected to reopen on Friday after a US-Iran framework agreement, but mine clearance, insurance hurdles, and shipper caution mean normal traffic may take weeks to resume. Around 500 vessels remain stranded in the Gulf, and daily transits are still a fraction of prewar levels.
The United States and Iran have signed an interim memorandum of understanding, mediated by Pakistan and Qatar, to end their war and reopen the Strait of Hormuz. The deal includes a 60-day negotiation period on nuclear issues and sanctions, with the US lifting its naval blockade and releasing billions in frozen assets. Reactions vary, with experts and regional powers expressing cautious optimism or skepticism.
Analysts forecast Brent crude will trade in a $75–80 range over the next two months as shipping through the Strait of Hormuz slowly returns, with prices unlikely to fall below $70 in the near term. Full restoration of physical supplies is expected to take months, with some experts predicting a recovery period of six to eighteen months.
Kremlin aide Yury Ushakov said Russian President Vladimir Putin and Chinese leader Xi Jinping have developed a 'truly friendly' relationship marked by mutual trust and respect. Ushakov also highlighted China's achievements under Xi's leadership and the stabilizing role of Russia and China in global affairs.
Taiwan's National Security Bureau has launched a website inviting Chinese nationals to report intelligence, citing growing public discontent on the mainland. China has condemned the move as espionage and promised countermeasures.
Hong Kong Chief Executive John Lee Ka-chiu, in an exclusive interview with the South China Morning Post, pledged to push for further reforms and expand into new markets while maintaining ties with traditional partners like the US. He also addressed the city's economic rebound and deflected questions about seeking a second term.
Hong Kong has launched a two-month public consultation on its first five-year plan, aimed at aligning with China's 15th five-year plan. The government targets publishing the blueprint in the third quarter of this year, with officials emphasizing it complements, not replaces, the free market. The plan focuses on innovation, technology, and the Northern Metropolis project.
Brent crude has fallen to its lowest levels since early March as a US-Iran peace deal appears imminent, raising hopes for the reopening of the Strait of Hormuz. While markets react positively, experts caution that a swift return to normalcy is uncertain and could take months.
Reports indicate the US and Iran have agreed on a memorandum of understanding, an interim measure that extends the ceasefire for 60 days and includes a two-step peace process. Analysts describe the agreement as an outline for negotiations rather than a comprehensive settlement, with challenges ahead including the nuclear file and regional tensions.
A new report from the Lowy Institute warns that China's ability to strike Australia with missiles is 'real and growing,' with immediate threats from cyberattacks and undersea cable disruptions. The report also highlights China's expanding military capabilities, including the DF-27 missile, and China has responded by dismissing the findings as a 'serious strategic misjudgement.'
Taiwan's coast guard reported that two Chinese government vessels entered the restricted waters around Taiping Island in the South China Sea on Thursday, marking a first. The ships left after being driven away, and the incident underscores escalating tensions over maritime claims in the region.
The UK government is preparing to soften its 2030 electric vehicle sales targets, potentially reducing the mandate for pure electric cars from 80% to 50%, in a move that has sparked backlash from charging companies and environmental groups. Industry and unions have lobbied for less ambitious goals, citing job risks and manufacturing challenges, while critics warn of increased carbon emissions and damage to investor confidence.
India abstained from the International Labour Organization's vote adopting the first binding labor standards for gig workers, citing the need for flexibility. The decision comes as India's gig workforce is projected to triple by 2030, with 40% earning below €136 monthly. Separately, Foreign Minister S. Jaishankar protested to US Secretary of State Marco Rubio over the deaths of Indian sailors.
India's fertility rate has fallen below the replacement level, with the total fertility rate dropping to 1.9 children per woman. Key factors include better education and contraceptive access, rising child-rearing costs, and shifting career priorities. The population is projected to begin shrinking in the coming years, while some states are offering incentives to encourage more births.
Thousands of protesters are expected to rally in Geneva on Sunday ahead of the G7 summit in Evian, France, with authorities deploying heavy security and businesses boarding up storefronts. The 'No-G7' coalition, comprising over 60 groups, aims to denounce 'fascism and imperialism' and express frustration with global leaders' policies. The summit, running from June 15-17, will tackle issues including the war in Iran and economic imbalances.
Hong Kong’s first astronaut, Dr. Lai Ka-Ying, is expected to engage in a public dialogue with city residents within the next two months, according to the city's technology minister. Lai, who is also China’s first female payload expert, will operate a greenhouse gas observatory aboard the Tiangong space station, marking a milestone for Hong Kong’s role in the national space program.
Hong Kong Chief Executive John Lee Ka-chiu has outlined a multi-focused strategy for the Northern Metropolis, aiming to attract talent and investment through technology, industry, and education. He said the project needs early success stories, with the Hetao cooperation zone expected to serve as the first draw. Lee also announced an expansion of the proposed university town to 1,000 hectares, following endorsement from Beijing's top official on Hong Kong affairs.
Russian President's special envoy Boris Titov said the delay in signing the Power of Siberia 2 gas pipeline deal is due to logistical issues, not price disputes, and that a solution is imminent. He also said payments between Russia and China have been resolved through clearing platforms.
Anthropic has cut access to its two most advanced AI models, Fable 5 and Mythos 5, after a US government export control directive citing national security concerns. The company complied but disagreed with the findings, warning that the standard could halt new model deployments across the industry. The decision has sparked concerns in India, which is considering developing its own AI capabilities.
China added 10 US companies to its export control list and barred government procurement from 46 US firms, following the Pentagon's expansion of its blacklist of Chinese military-linked companies to 188 entities. Beijing's foreign ministry and commerce ministry criticized the US move, while a US official defended the restrictions.