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Italian authorities have banned concerts by Kanye West and Travis Scott scheduled for July in Reggio Emilia, citing public order and safety concerns. The decision follows requests from the local Jewish community and concerns about potential protests. West has faced a wave of cancellations across Europe this summer.
Iran's top negotiator says Tehran does not trust US guarantees, as reports emerge President Trump sent back a tougher peace proposal. Multiple outlets report a fragile ceasefire since April, with Pakistan mediating and disputes over nuclear material and frozen assets unresolved.
Australian capital city home prices fell in May for the first time since January 2025, with Sydney and Melbourne leading declines. Experts predict the slump could last at least a year and reduce values by up to 10%, driven by high interest rates, inflation, and tax policy changes.
Iranian authorities have confiscated properties, vehicles, and financial assets from more than 100 individuals accused of collaborating with Israel or committing treason, according to reports from the Jerusalem Post. The seizures, carried out by provincial judiciaries, are part of a broader crackdown that has also targeted religious minorities and critics of the regime.
As the US withdraws from its conflict with Iran, analysts from Dawn and The Guardian describe a war that failed to achieve its aims, empowered hardliners in Tehran, and shifted global power dynamics in favor of Russia and China. The conflict is compared to Vietnam in its strategic miscalculation, though on a smaller scale, with lasting consequences for US influence and the international order.
At the Shangri-La Dialogue in Singapore, South Korean Defense Minister Ahn Gyu-back emphasized Seoul's push for stronger self-reliant defense capabilities alongside deepening its alliance with the United States. He also highlighted North Korea's closer alignment with Russia as a 'key variable' in global security and met with counterparts from the Philippines, Norway, and Japan to discuss defense cooperation.
MiniMax Group, a Chinese AI company, has signed an agreement with Citic Securities to prepare for a yuan-denominated share sale in mainland China, expected to trade on the Star Market. The announcement follows a surge in its Hong Kong shares and its upcoming inclusion in the Hang Seng Tech Index.
Japan has received another shipment of Russian oil from the Sakhalin-2 project as it seeks to diversify energy sources amid Middle East disruptions. The delivery, involving tanker Voyager, comes despite Japan's formal ban on Russian oil imports, with purchases tied to LNG contracts. A Japanese lawmaker has also suggested deeper energy cooperation with Russia could be beneficial.
Reports on US-Iran negotiations present conflicting pictures: some sources indicate a possible agreement to extend a ceasefire and reopen the Strait of Hormuz, while others highlight ongoing disagreements and skepticism from Tehran. The deal, if reached, would be a memorandum of understanding, with final approval pending from President Trump.
Iran insists no final agreement has been reached with the US, even as President Trump considers a deal following a two-hour Situation Room meeting. Tehran's Fars news agency disputes Trump's characterization, while Pentagon chief warns the US is ready to resume attacks if necessary.
Israeli forces entered a southern Lebanese village amid continued airstrikes that killed several people, while Lebanese and Israeli military officials held direct talks at the Pentagon. The discussions, described as 'productive,' focus on regional security, but Hezbollah's absence complicates the process. A nominal ceasefire has been in place since April 17.
At the 23rd Shangri-La Dialogue in Singapore, US Defence Secretary Pete Hegseth delivered a keynote address that was notably less confrontational toward China than last year's, reflecting the recent Xi-Trump summit's impact. Regional concerns over Taiwan, the Iran war, and a deteriorating security environment dominated discussions, with China's delegation warning against 'hegemonism' and 'bloc confrontation'.
South Korean stocks rallied on Friday after reports that the United States and Iran agreed to extend their ceasefire for 60 days, with the KOSPI gaining over 2 percent. Wall Street also posted record highs, and tech and consumer stocks led gains in Seoul, while defense firms declined.
US Vice President JD Vance says Washington and Tehran have made progress toward a ceasefire extension, but disagreements remain over Iran's enriched uranium stockpile. President Trump has not yet approved any deal, while both sides warn of military action if negotiations fail.
US Vice President JD Vance acknowledged that key issues in US-Iran nuclear talks, including the enriched uranium stockpile and enrichment, remain unresolved, while expressing confidence that a deal is close. The US and Iran continue negotiations amid differing timelines and positions, with Vance stating the US will pursue a deal regardless of Israel's stance.
South Korea's industrial output, retail sales, and facility investment all declined in April, according to data from the Ministry of Data and Statistics. While the government attributes the drop to base effects and Middle East tensions, analysts point to lingering concerns over consumption and concentration risks in the semiconductor sector.
Israeli Prime Minister Benjamin Netanyahu has ordered the military to expand its control of Gaza to 70%, up from the current 60%, in what analysts say contradicts the terms of the October 2025 ceasefire. The move has drawn concern from Germany and comes as Israeli strikes continue and talks with Hamas remain stalled.
US and Iranian negotiators have agreed on a framework to extend the ceasefire for 60 days and launch talks on Iran's nuclear program, but the deal still awaits approval from President Donald Trump and Iran's leadership. The proposed agreement includes reopening the Strait of Hormuz and easing the naval blockade, amid ongoing skirmishes between the two sides.
US inflation reached a three-year high of 4.2% in May, driven by soaring energy prices linked to the US-Israel war against Iran. The Federal Reserve held interest rates steady, while political tensions over economic policy intensified. Consumer sentiment improved slightly as gas prices eased, though households remain pessimistic.
Russian Security Council Secretary Sergey Shoigu has warned that nuclear weapons could emerge in the Asia-Pacific region, citing the AUKUS pact and Japan and South Korea's preparations to host American nuclear arms. He also criticized Western policies, including missile defense deployments and the rejection of New START legacy, as destabilizing.