Deepens

Miguel Díaz-Canel cites China and Vietnam as possible models for opening up the country’s economyCuba’s economy needs “urgent changes” to overcome a major crisis intensified by a US oil blockade, president Miguel Díaz-Canel said in a speech to Communist party leaders. “The situation calls for urgent and necessary changes,” Díaz-Canel told the party’s politburo in his frankest admission yet of the need to overhaul the country’s communist model.In the remarks, broadcast on Thursday, he cited China and Vietnam as possible models for opening Cuba’s economy to the world in order to “create economic wealth and distribute it equally.” Continue reading...

• Major Chinese AI firms, including Tencent, MiniMax, and Alibaba, have significantly slashed prices for their AI models to combat intense market competition. • Specific cuts include Tencent reducing Hy-MT2-Pro costs by nearly 70%, MiniMax halving prices for its M3 series, and Alibaba offering 50% off its Qwen3.7-Max system during the 618 midyear sales event. • This price war is driven by narrowing capability gaps between different AI models and the overall falling cost of providing AI services.

• London-based AI startups are accelerating their product launch timelines to remain competitive as tech giants like Google, DeepMind, and Microsoft expand their operations in King’s Cross and Paddington. • This expansion by Big Tech is intensifying the local struggle for critical resources, specifically high-level talent, venture funding, and computing power. • Innovation is diversifying beyond finance and health, with new tools emerging in cybersecurity, industrial automation, media production, and AI safety compliance.

• On June 10, 2026, the Sensex surged 355 points and the Nifty crossed 23,300 in early trade, driven by gains in FMCG and private banking stocks. • The market rally occurred despite deepening geopolitical tensions following fresh US strikes on Iran, which caused mixed reactions across Asian markets. • While Indonesia’s JSX Composite jumped 7.57% and Thailand’s SET index rose 1.44%, North Asian markets like Japan’s Nikkei 225 fell 1.01% due to safe-haven yen strength.

• President Lee Jae-myung's Democratic Party is poised for a major victory in South Korea's local elections, expected to win 11 of 16 municipal races. • This shift follows the political collapse of the PPP, led by former President Yoon Suk Yeol, who was impeached and sentenced to life in prison after attempting to impose martial law in 2024. • The victory is significant as Lee seeks to pivot South Korea's foreign policy by improving relations with China and North Korea while preserving ties with Japan.

• International NGOs are warning of a collapsing humanitarian situation in Yemen four years after the United Nations truce. • Geopolitical friction and tactical exploitation by disruptive actors are currently hindering regional stability and economic growth initiatives. • The crisis is straining global resources, as NGOs are forced to focus exclusively on basic relief rather than long-term development.

Albert Manifold disputes reports about his behaviour and says he always tried to set exampleThe boardroom turmoil at BP deepened after its ousted chair, Albert Manifold, claimed allegations about his conduct were “lies”.In a new and lengthy statement, Manifold disputed reports about his conduct, insisting “at no point in my tenure as chairman of BP has anyone raised with me any issue about my conduct or my relationship with my colleagues”. Continue reading...

• Reuters reported on May 16 that U.S. President Donald Trump’s coercive diplomacy toward Iran has “hit a wall,” with the two sides deadlocked after weeks of public threats and ultimatums. • The standoff is linked to an 11-week-old crisis that has shaken the global economy, with analysts warning that energy supplies and markets could face prolonged disruption if talks do not move forward. • Trump is said to be insisting on emerging from any deal as an outright U.S. victory, while Iran is unlikely to accept what it sees as total defeat, complicating compromise.

Dr Tracy Beth Høeg, the Food and Drug Administration’s top drug regulator, says she was fired from agency after declining to resignIn a major shake-up at the US Food and Drug Administration (FDA), top regulators left on Friday – including Tracy Beth Høeg, the acting drug chief, who says she was fired, and Katherine Szarama, the acting vaccines chief who has only been in the position for days. Jim Traficant, the chief of staff, has also been ousted.The FDA now has no permanent commissioner or deputy commissioner and no permanent leaders of two major centers, after the resignation of Marty Makary on Tuesday and other high-profile departures. Continue reading...

• SoftBank announced a deepened push into AI through a new venture involving OpenAI, targeting enterprise applications in the US market. • The move comes as rival venture capital firms increase funding for AI startups, intensifying competition for talent and tech. • This investment bolsters SoftBank's position in the booming US AI sector, potentially accelerating model deployments.

Motorists are forced to queue up to six hours for fuel or pay more on the black market, while farmers lack fuel to operate machinery and harvest crops.

• Egypt has convened an emergency regional summit with Ethiopia, Sudan, and other Nile Basin nations to address water allocation disputes intensified by Sudan's ongoing civil war and dam infrastructure threats. • The summit, held in Cairo on Friday, focused on protecting the Grand Ethiopian Renaissance Dam and Blue Nile water flows during heightened regional conflict; negotiations remain deadlocked. • US officials are monitoring the summit closely, concerned that water scarcity could fuel refugee crises across the Horn of Africa and destabilize a critical US partner region.

• The World Food Programme declared a humanitarian emergency in Ethiopia's Somali and Afar regions Friday, warning that sustained drought has destroyed crops and livestock herds, leaving 9.4 million people facing acute food insecurity. • Local authorities reported a 60% crop failure compared to last year; malnutrition rates among children under five have climbed to 18%, approaching famine thresholds, WFP spokesperson stated. • The organization called for immediate international funding to deliver emergency rations and establish feeding centers, noting that conflict in neighboring regions has already strained Ethiopia's humanitarian response capacity.

• Israeli and Egyptian officials held talks in Cairo on April 18 to discuss a potential ceasefire agreement brokered by Qatari mediators, marking the first substantive negotiation in three weeks following escalated border tensions. • Gaza's health ministry reports 1.8 million people face acute food insecurity, with humanitarian organizations warning of disease outbreaks; the UN humanitarian coordinator called the situation "the worst in two years." • Both sides remain divided over prisoner exchanges and Israeli military withdrawal timelines, though preliminary frameworks for a phased 90-day truce have been proposed.

Donors exceed funding target at Berlin conference but prospects for ceasefire remain distantMore than £1bn (€1.15bn) has been pledged for war-ravaged Sudan at a conference in Berlin, eclipsing the funding target organisers had set to help mitigate the world’s largest humanitarian crisis.The financial commitments made on Wednesday will also help offset a chronic humanitarian funding shortfall in a country devastated by three years of conflict, where two-thirds of its population – 34m people – require assistance. Continue reading...

• The UN World Food Programme reported on April 9 that active combat in Sudan's Khartoum and West Darfur states has suspended humanitarian operations, cutting off food assistance to approximately 9 million internally displaced persons and vulnerable civilians. • The World Health Organization documented a 40% spike in cholera cases across eastern Sudan refugee camps over the past two weeks, with only five functioning water treatment facilities operational across the country. • International NGOs warn of imminent famine conditions by mid-May if logistics corridors remain blocked, with donor nations unable to guarantee protection for aid workers amid ongoing violence.

• Iran has threatened to block the Strait of Hormuz and destroy oil tankers in retaliation for U.S. airstrikes on its oil infrastructure, creating unprecedented pressure on global oil supplies. • The world's oil supply is now under intensifying pressure, with the effective closure of the Strait of Hormuz representing a critical chokepoint for international energy commerce. • President Trump is calling on U.S. allies to deploy warships to maintain the strait's openness, with 2,200 Marines and a quick reaction force being deployed aboard three Navy amphibious ships.

There is little sign of imminent regime change in Iran as its blockade of strait of Hormuz shocks global economyFew doubt that in the first days of the new war in the Middle East, the initiative belonged to the US and its ally Israel. Now it seems less sure, however.Mohsen Rezaee, a senior officer in the Islamic Revolutionary Guards Corps, on Sunday said “the end of the war is in our hands” and called for the withdrawal of Washington’s forces from the Gulf and compensation for all damage caused by the assault. Continue reading...