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South Korean ministers have urged the U.S. to address pending trade issues, including proposed tariffs over forced-labor import bans, within the framework of their bilateral trade agreement. The USTR has proposed duties of 10% or 12.5% on goods from 60 economies, with South Korea among 54 facing the higher rate.
The Reserve Bank faces a calmer outlook as the Australian economy cools and the US-Iran conflict eases, with oil prices falling and property markets retreating. Diverging forecasts among major banks and market signals leave the interest rate path uncertain, though most expect a pause this year.
Russian Foreign Minister Sergey Lavrov, after talks in Belarus, said Europe mistakenly believes Russia is losing the conflict in Ukraine and is issuing ultimatums based on that misjudgment. He expressed hope that the US will prioritize peace and not leave the initiative to European nations. The remarks were reported by Russian state news agency TASS.
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.
US President Donald Trump announced that ships are starting to move through the Strait of Hormuz following a preliminary US-Iran deal, but ship-tracking data shows only a handful of vessels have transited, with hundreds still waiting. The reopening faces security concerns such as mines and tolls, while shipping operators and seafarers' advocates remain cautious.
Iranian state media reported a ceasefire deal with the US that includes the initial unfreezing of $12 billion in assets, but experts quoted by The Jerusalem Post expressed doubt. President Trump said Iran will receive no money, and a separate report indicates the deal may include sanctions relief and a 60-day negotiation period.
Israel anticipates additional European orders for its air and missile defense systems, driven by Russia-related security concerns. Swiss moves to accelerate its own air defense, including resumed Patriot payments, also point to renewed European interest in such capabilities.
President Lee Jae Myung met Pope Leo XIV at the Vatican and invited him to attend World Youth Day 2027 in Seoul. The two discussed peace on the Korean Peninsula, with Lee asking the pope to also consider visiting North Korea and the Demilitarized Zone.
The United States and Iran have announced a preliminary ceasefire deal, set to be signed later this week, which would reopen the Strait of Hormuz and set the stage for negotiations on a long-term agreement. While world leaders have welcomed the move, Israel's defense minister said his country will not withdraw from territory seized in Lebanon, and Jewish groups in the US are split in their reactions.
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.
A petition published by The Lancet, backed by health advocacy groups, calls for suspending the Israeli Medical Association from the World Medical Association over its alleged silence on Gaza. The WMA, which counts the IMA as a founding member, opposes such exclusion based on government actions. The IMA dismisses the petition as politicized and has prepared a counter-petition.
President Lee Jae Myung's social media post during his Europe trip has intensified factional tensions inside South Korea's ruling Democratic Party ahead of its August convention. The party faces internal conflict and declining approval ratings despite winning most local races in the June 3 elections.
Diplomatic talks between the United States and Iran have produced a framework agreement including oil export waivers and asset releases, even as Israeli military operations in Lebanon and exchanges of fire with Iran threaten the process. Israeli leaders have rejected any requirement to withdraw from southern Lebanon, drawing public criticism from President Trump. Multiple outlets report the conflict has entered its fourth month with ceasefire arrangements under severe strain.
Swiss voters have rejected a proposal to cap the country's population at 10 million by 2050, according to early projections. The initiative, put forward by the Swiss People's Party, was defeated with around 55% of voters opposing it.
European Union member states have agreed to open the first stage of accession negotiations with Ukraine and Moldova, a move long blocked by Hungary's previous government. The talks are set to begin on Monday in Luxembourg, marking a significant step in both countries' efforts to join the bloc.
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.
British armed forces boarded and detained the tanker Smyrtos, suspected of being part of Russia's shadow fleet, in the English Channel. The operation, described as the first UK-led of its kind, has drawn praise from Ukraine's president, while Russia warns of legal action over plans to sell the tanker's oil.
Qatar earned a historic 1-1 draw in their World Cup opener against Switzerland in San Francisco, with Boualem Khoukhi scoring in stoppage time to earn the Asian champions their first point in the competition. The late goal denied Switzerland, who had dominated possession and led through a Breel Embolo penalty.
A French court has sentenced six Georgian nationals to up to seven years in prison for the theft of rare Russian literary works from libraries in Paris and Lyon. The trial, which concluded on Saturday, saw the defendants found guilty of criminal conspiracy, with some also convicted of theft of cultural objects. The case is part of a broader investigation into a suspected organised network targeting libraries across Europe.