Conduct

• South Korea's Kospi index crashed through the 6,000 level during the third week of July (13th-16th), experiencing extreme volatility. • The market saw circuit breakers triggered every single trading day, driven by investor fears of a "peak-out" in the semiconductor sector. • Major industry players including Samsung Electronics, SK Hynix, and TSMC were impacted as concerns grew over the sustainability of the AI cycle.

• Major U.S. indices declined, with the Nasdaq falling 1.68%, the S&P 500 dropping 0.81%, and the Dow Jones slipping 0.09% as semiconductor and tech stocks tumbled. • Market volatility was driven by a poor earnings forecast from Netflix and rising geopolitical tensions following a speech by Donald Trump regarding Iran. • Brent crude oil surged over 3% to $86.91 per barrel, fueling inflation concerns, while Bitcoin climbed above $63,309.06 and precious metals attempted a recovery.

• ICC Chief Prosecutor Karim Khan faces a potential removal vote by member countries this month following an investigation into allegations of sexual misconduct. • The ICC's oversight body suspended Khan based on evidence from the UN Office of Internal Oversight Services (OIOS) and advice from a panel of judicial experts. • Khan and his legal team have denied the allegations, claiming the investigative process was unfair and utilized specially created rules for his case.

• Bank of Korea Governor Shin Hyun-song announced on the 16th that the base rate has been raised from 2.50% to 2.75% per annum. • Addressing recent high stock market volatility, Shin stated that there are few systemic risk factors currently threatening the real economy. • He emphasized that semiconductor prices, rather than semiconductor share prices, are the critical metric to monitor for economic impact.

• India and the European Union have agreed to expand their strategic cooperation across critical technology sectors, including AI, semiconductors, quantum technologies, and clean energy. • The partnership will focus on deepening collaboration through the launch of new joint research initiatives and startup support programs to foster innovation. • This agreement matters as it strengthens the technological ties between two major global economies seeking to diversify supply chains and accelerate the transition to green energy.

• President Lee Jae-myung unveiled the "Three Mega Projects for AI and Semiconductors" in late June 2026 to secure South Korea's global leadership in technology. • The strategy focuses on three core pillars: semiconductors, physical AI, and AI data centers, with a specific goal to double DRAM output within five years. • The initiative emphasizes expanding capabilities in high-bandwidth memory (HBM), AI processors, advanced packaging, and next-generation memory technologies.

Conviction over hiring by socialist-led council is one of a series of corruption claims facing Pedro Sánchez’s familyThe brother of Spain’s prime minister has been banned from holding public office for nine years after being found guilty of administrative misconduct relating to his hiring by a socialist-led council in the south-western region of Extremadura nine years ago.Corruption allegations involving Pedro Sánchez’s family, his government and his Spanish Socialist Workers’ party (PSOE) have triggered repeated opposition calls for a snap general election. All the accused have denied wrongdoing. Continue reading...

• The US has launched a new round of airstrikes against Iran, following a statement from Donald Trump that the previous ceasefire is now "over." • US Central Command stated the operations aim to degrade Iran's ability to threaten freedom of navigation within the Strait of Hormuz. • Iranian state media (IRNA) reported approximately 10 explosions in the coastal cities of Konarak and Chabahar, with the latter experiencing significant power outages.

John Edwards resigned in June after independent investigation following claims of sexual harassment and bullyingThe UK information commissioner who resigned over sexual harassment and bullying claims is understood to be taking legal action against a woman who flagged his conduct.The science and technology secretary, Liz Kendall, said she was “appalled” by the fact that John Edwards was preparing to serve legal papers on one of the “incredibly brave” women at the ICO who raised concerns about his behaviour. Edwards resigned from his post as the UK’s data regulator in June after an independent investigation. Continue reading...

• Leader of the House Indranee Rajah announced that no further action will be taken regarding the conduct of Workers' Party MPs Sylvia Lim and Faisal Manap during the Committee of Privileges (COP). • The decision follows a High Court ruling on December 4, 2025, which rejected an appeal by Mr. Singh. • Action is precluded by a "time bar," as the 14th Parliament was dissolved and the 15th Parliament has since commenced.

• On July 6, the Nasdaq rose driven by momentum in semiconductor and AI-linked stocks, while the Dow Jones Industrial Average closed above 53,000. • The rally was supported by a softer June jobs report indicating cooling labor demand, though services data suggests ongoing price pressures. • Market leadership remains narrow, with the broader rally's sustainability depending on upcoming inflation data, Treasury yields, and corporate earnings results.

• The Singapore Parliament is scheduled to hear a ministerial statement regarding the conduct of Workers' Party MPs Sylvia Lim and Faisal Manap. • In a separate session, Members of Parliament will discuss the current government policy concerning the public screening of Chinese dialect films. • Under the existing Infocomm Media Development Authority (IMDA) framework, these films require official approval before they can be screened publicly.

• Europe's defense industry is facing a critical structural bottleneck due to its inability to produce the semiconductors required for modern weaponry at scale. • The shortage impacts the production of essential military technology, including drones, missiles, radar systems, communications, and electronic warfare tools. • Despite rising defense budgets across the EU, the region remains heavily dependent on foreign microelectronics, limiting its ability to convert spending into actual military capability.

• The UK Treasury Select Committee is urging the Financial Conduct Authority (FCA) to expand its powers to better oversee AI risks within the financial services sector. • This call for action comes as over 75% of financial firms have already deployed AI, creating an urgent need for AI-specific stress testing and enhanced consumer protections. • The proposed framework is significant because it could establish a regulatory template for auditing AI-driven credit models and algorithmic trading systems.

• India is accelerating its semiconductor ambitions by implementing new policy advances and increasing local technology investments to boost domestic electronics production. • The initiative involves deepening strategic cooperation with Japan and establishing new manufacturing partnerships to build more resilient global supply chains. • These efforts aim to overcome significant infrastructure challenges and rising component costs caused by intensifying international competition in the chip sector.

• Union Minister Kiren Rijiju announced that Parliament's Monsoon session is scheduled to take place from July 20 to August 13, 2026. • The session is expected to be highly significant as the government intends to make another attempt to pass a Constitution amendment bill. • This legislative push highlights the government's ongoing efforts to implement structural legal changes through the parliamentary process.

• Attackers leveraged a vulnerability in Langflow (CVE-2025-3248) to execute a sophisticated ransomware attack powered by agentic AI. • The breach utilized LLM agents to automate a complex, multi-stage intrusion process involving real-time reasoning, reconnaissance, credential theft, and lateral movement. • This incident is significant because it demonstrates how AI agents can combine known exploitation techniques to automate high-level attack chains that previously required manual human effort.

• Asian stock markets declined on Thursday, driven by a significant sell-off in semiconductor shares that saw South Korea's Kospi drop by 5%. • European bourses remained flat and U.S. futures dipped as investors awaited the release of the June employment report. • Crude oil prices fell due to expectations that supplies through the Strait of Hormuz would recover.

• The Vera C. Rubin Observatory in Chile has launched an unprecedented survey of the southern sky to map the solar system and the broader universe. • The project utilizes the largest camera ever constructed to capture high-resolution data on the Milky Way galaxy and distant celestial objects. • This initiative matters as it provides the most detailed survey of the universe to date, allowing astronomers to peer deeper into space than previously possible.

IOPC acting after complaint from family of student, whom officers initially handcuffed and treated as a suspectTwo police officers in the case of Henry Nowak have been placed under investigation for gross misconduct by the police watchdog.Nowak, 18, died in December 2025 after being stabbed by Vickrum Digwa in Southampton. Digwa falsely told police he had been the victim of a racist attack, which led officers to handcuff Nowak and treat him as a suspect, despite him saying he had been stabbed and that he could not breathe. Continue reading...

• Prosecutors have launched coordinated raids across France, Spain, Italy, and Belgium to investigate the alleged misuse of European Parliament funds. • The probe targets the defunct far-right Identity and Democracy (ID) group, focusing on how public funds were allocated and spent. • This action highlights ongoing efforts by EU authorities to ensure financial transparency and accountability among political factions within the European Parliament.

• EU prosecutors have conducted raids across France, Spain, Italy, and Belgium to investigate the alleged misappropriation of European Parliament funds. • The probe targets the now-defunct Identity and Democracy (ID) group, which included MEPs from France’s National Rally, Italy’s League, and Germany’s AfD. • This investigation is significant as it scrutinizes the financial conduct of prominent Eurosceptic parties within the EU's legislative body.

• South Korea has unveiled a massive investment plan totaling 800 trillion won (approximately $518 billion) to bolster its semiconductor industry. • The initiative focuses on advancing microchip production and developing critical infrastructure for artificial intelligence to maintain a global competitive edge. • This strategic move is designed to secure South Korea's position as a world leader in technology while directly competing with China's growing influence in the sector.

• South Korea has announced a massive investment plan for semiconductor and AI "megaprojects" totaling $1 trillion to bolster its technological infrastructure. • The initiative aims to keep the nation competitive as regional rivals, including Taiwan, China, and Japan, aggressively increase their own spending on chip manufacturing and AI data centers. • Despite the announcement, Samsung stocks experienced a four per cent decline, suggesting investor skepticism or a reaction to broader market pressures.

• India is marking the 11th anniversary of the Digital India initiative, transitioning into a new phase focused on artificial intelligence and semiconductor manufacturing. • The government has approved 12 semiconductor projects with an investment pipeline of approximately ₹1.64 lakh crore, encompassing one fabrication unit, two compound fabrication units, and nine packaging units. • To ensure ethical growth, the government released AI Governance Guidelines in November 2025 to promote the development of "safe, inclusive and trustworthy" AI.

• Marking 11 years of the Digital India initiative, the Ministry of Electronics and Information Technology (MeitY) is transitioning the program into a new growth phase. • While the first decade focused on expanding digital infrastructure, financial inclusion, and citizen services, the next stage will prioritize frontier technologies. • The government is specifically betting on artificial intelligence (AI) and semiconductors to drive future economic and technological advancement.

• Shares of AMD and Intel fell sharply on June 5, 2026, leading to a broader sell-off across the semiconductor sector. • The decline was triggered by macroeconomic concerns, rising valuation worries, and a cautious AI chip forecast issued by Broadcom. • Global supply chain risks were further exacerbated by news of a potential strike at Samsung and a stake sale by TSMC.

• Semi-conductor stocks, including AMD, experienced a decline on June 26, 2026, driven by investor anxiety over chip demand. • The market downturn is linked to concerns that price hikes for major hardware products, specifically Apple and Xbox devices, may reduce overall consumer demand. • This volatility highlights the sensitivity of the semiconductor industry to the pricing strategies of its largest tech clients.