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AI summarySouth Korea's benchmark KOSPI index plunged nearly 10 percent on Tuesday, triggering a circuit breaker for the fourth time this year, as foreign investors dumped semiconductor shares amid a global tech slump. The index rebounded sharply the following morning as individual investors went bargain hunting, with Samsung Electronics and SK hynix leading the recovery.
AI summaryThe Pentagon is asking Congress for an additional $80 billion to fund the war against Iran, on top of a proposed $1.5 trillion defense budget. Defense Secretary Pete Hegseth and Deputy Secretary Stephen Feinberg are lobbying senators, but the request faces skepticism from lawmakers and is expected to face tough scrutiny.
AI summaryThe IDF has extended its operational control over approximately 70% of the Gaza Strip, with defense officials signaling possible further advances. Meanwhile, the International Stabilization Force has begun receiving military equipment to take over security in parts of the enclave, as Hamas retains control in the remaining areas and refuses to disarm.
AI summaryPresident Trump threatened a 10-year prison sentence for vandalizing the Lincoln Memorial Reflecting Pool, which turned green after a $14.7 million no-bid renovation. The pool's problems have drawn criticism from comedian Jon Stewart and lawsuits from preservation groups.
AI summaryQueensland Treasurer David Janetzki has handed down his second budget, forecasting a $6.2bn operating deficit this year and promising a surplus by 2029-30 despite state borrowing topping $200bn. Coal royalties are set to rise to $6.9bn in 2026-27, while the government faces the threat of a credit rating downgrade.
AI summaryIran's chief negotiator, Mohammad Bagher Ghalibaf, announced Tehran will administer the Strait of Hormuz in accordance with international law. The US and Iran have agreed to establish communication lines to manage shipping and unfreeze $12 billion in Iranian assets, while sanctions relief is expected.
AI summaryChina's Foreign Minister Wang Yi joined top Indian and Iranian security officials at a BRICS National Security Advisors meeting in New Delhi, where bilateral talks and regional security issues took center stage.
AI summarySouth Korea's bourse operator activated sell-side sidecars for the KOSPI multiple times amid sharp declines, suspending program trading for five minutes each time. The falls were driven by tech losses, Middle East tensions, and profit-taking.
AI summaryThe National Assembly approved 135 demands for grants for fiscal year 2026-27, rejecting all 587 opposition cut motions. The interior ministry faced sharp criticism, and the budget debate was marked by heated exchanges and name-calling.
AI summarySouth Korea has reached a broad consensus with the European Union regarding new steel import quotas that take effect July 1. The EU has reduced tariff-free quotas on 30 steel products, with South Korea's allocation set at 2.07 million tons. The government is rolling out support measures for local steelmakers to mitigate the impact.
AI summaryThe South Korean won saw mixed trading against the U.S. dollar this week, with Yonhap reporting gains on Thursday after Fed Chair Kevin Warsh's comments on inflation, but also losses on Tuesday and a further decline later that week amid foreign investor stock selling. The government signaled readiness to stabilize the foreign exchange market.
AI summaryUS Vice President JD Vance said direct talks with senior Iranian officials in Switzerland laid a 'good foundation' for a final deal to end the war, citing progress on the Strait of Hormuz, a ceasefire in Lebanon, and nuclear inspections. The initial round set up mechanisms for de-mining the strait and de-confliction, while Iran's foreign minister reported 'major progress' toward ending the Lebanon War.
AI summaryUS President Donald Trump has weighed in on Britain's political transition, calling incoming Prime Minister Andy Burnham 'extremely liberal' and predicting a rocky relationship. His comments come after Keir Starmer's resignation announcement, with Trump criticizing Starmer's handling of energy, immigration, and the Iran conflict.
AI summaryPresident Donald Trump said he would take action if Iran fails to uphold its interim agreement with the US, while Iranian officials pushed back on a reported condition about using unfrozen funds for American food purchases. The deal came after months of reciprocal attacks and has coincided with market volatility and rising oil prices.
AI summaryQatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani told Al Jazeera that diplomatic safeguards have been established to prevent regional tensions—including in Lebanon and the Strait of Hormuz—from derailing US-Iran negotiations. His remarks, which also referenced Doha's efforts to build an escalation-prevention mechanism, came after the signing of a Memorandum of Understanding between Washington and Tehran.
AI summaryIranian President Masoud Pezeshkian has arrived in Pakistan for an official visit at the invitation of Prime Minister Shehbaz Sharif, accompanied by a high-level delegation. The visit includes meetings with President Asif Ali Zardari and Prime Minister Sharif, with discussions expected to cover bilateral ties, regional connectivity, and the aftermath of the Islamabad Memorandum of Understanding. President Zardari reaffirmed Pakistan's support for Iran's peace and stability.
AI summaryAs Israelis express anxiety over the US-Iran interim deal, American allies of President Donald Trump, including Ambassador Mike Huckabee and conservative commentator Mark Levin, defended the relationship at a Jerusalem conference, even as criticism mounted from Israeli officials and media over the agreement's terms and its implications for Israel's security.
AI summaryQatar's Prime Minister said US-Iran talks in Switzerland, mediated by Qatar and Pakistan, laid groundwork for a final deal after 18 hours of discussions. Pakistan's PM and Qatari emir expressed satisfaction over progress in technical talks, as a memorandum of understanding was concluded and separate preparatory meetings are planned in Doha.
AI summaryRoman Gofman, the first outsider to lead the Mossad since 2011, has taken over with a mandate to bring down Iran's Islamic regime. His tenure has seen internal restructuring and a contested push to involve the agency in Gaza migration efforts.
AI summaryAn explosion at Qatar's Ras Laffan industrial zone killed at least 13 people and injured dozens, officials said. The blast occurred during restart operations at the Barzan gas supply facility, attributed to a technical malfunction. Authorities confirmed no impact on exports or environment.