US' Hegseth hails Asian partners for boosting security spending; omits Taiwan in roll call - The Business Times

• The "E6"—the EU's six largest economies including Germany, France, Spain, Italy, Poland, and the Netherlands—have sent a formal letter to the European Commission. • The group is urging the commission to accelerate the implementation of the Capital Markets Union to reduce market fragmentation.

• WHO chief visited Bunia in eastern Congo on May 30, 2026, to address a current Ebola outbreak at its epicentre. • During the visit, the WHO leader urged international communities to reconsider imposing travel bans against the affected region.

• A Philippine minister stated that the country remains under severe territorial and political threat from China, despite the diplomatic outcomes of the Trump-Xi summit. • The tension stems from repeated maritime standoffs in the South China Sea, where Beijing continues to assert expansive claims over waters.

• France is collaborating with Germany and Italy to advocate for a stricter European Union migration policy. • Key demands include the implementation of more rigorous border controls, accelerated deportation processes, and enhanced measures to combat illegal migration.

• Former President Donald Trump is currently weighing whether to move forward with a potential deal involving Iran. • The decision remains undecided, with Trump pondering the strategic implications of re-engaging or altering the terms of the agreement.

• During the Shangri-La Dialogue on May 30, US official Pete Hegseth praised several Asian partners for increasing their security and defense spending. • Hegseth specifically recognized Australia, Indonesia, Japan, Malaysia, the Philippines, South Korea, Singapore, Thailand, and Vietnam for their contributions.

• A new analysis by the MCC Brussels suggests that EU sustainability mandates and restrictive building regulations are contributing to extreme indoor heat during heatwaves. • In countries including Belgium, France, Germany, the Netherlands, and Austria, the installation of fixed air-conditioning is hindered by a complex web of noise limits, heritage controls, and environmental permits.

• Germany has rejected warnings from the U.S. regarding a proposed law that would require streaming services to invest in local content. • Government spokesperson Stefan Kornelius dismissed claims that the plan violates the Turnberry Agreement, arguing the obligations are "very moderate by European standards."

• Finance ministers from the E6—Germany, France, Italy, Spain, the Netherlands, and Poland—have agreed to a joint EU capital market supervision framework. • The agreement supports a European Commission proposal to shift the oversight of joint capital markets to the European Securities and Markets Authority (ESMA) based in Paris.

• Global investment banks are abandoning expectations for a Federal Reserve rate cut this year, signaling a hawkish shift in U.S. monetary policy. • A strengthening U.S. dollar is siphoning critical capital away from Asian markets, threatening their ability to fund development, manage bond yields, and support equities.

• Vietnamese President To Lam advocated for the Asia-Pacific region to take a leading role in resolving global crises during the Shangri-La Dialogue. • He emphasized the critical importance of maintaining a rules-based international order to ensure stability in an increasingly unstable world.