East

• Prime Minister Narendra Modi held a telephonic conversation with Iranian President Masoud Pezeshkian on Tuesday to discuss the ongoing crisis in West Asia. • President Pezeshkian briefed the Indian leader on the latest regional developments and the proposed strategies for a way forward. • PM Modi reiterated India's consistent diplomatic stance, emphasizing that all regional issues must be resolved through dialogue and diplomacy.

• UN agencies warn that the ongoing crisis in the Middle East could result in economic losses totaling 194 billion USD for Arab States. • The report highlights a significant risk to the labor market, specifically threatening the jobs and economic stability of women in the region. • This financial strain underscores the severe socio-economic instability caused by regional conflict, potentially reversing years of development gains.

• The UK stock market experienced a broad rally today, with the FTSE 100 reaching a record high alongside gains in the FTSE 250, 350, and All-Share indices. • This surge was driven by a combination of stronger-than-expected UK GDP growth data, a decrease in oil prices, and easing geopolitical tensions in the Middle East. • The rally reflects a significant boost in investor sentiment, as positive economic indicators and reduced global risks encouraged buying activity across London's major indices.

• US stock indexes, including the S&P 500 and NASDAQ, closed sharply higher on Monday, June 29, 2026. • The rally was primarily driven by easing geopolitical tensions between the United States and Iran, helping the market recover from a volatile previous week. • This rebound is significant as it offsets recent tech sector sell-offs and demonstrates how sensitive short-term market movements are to geopolitical headlines.

• The World Economic Forum (WEF) warns that the global economy is shifting from globalization toward geo-economic fragmentation. • A full economic decoupling between Eastern and Western powers could result in a massive loss of up to $6.9 trillion from global GDP. • This potential divide is expected to impact the world economy significantly during the 2025-26 period.

• A severe heatwave moving east across Europe caused power outages in Ukraine on Monday and left thousands of homes without electricity in the Paris region. • Extreme temperatures led to new record-highs in Slovakia and a record 40°C in Vienna, Austria, on Sunday. • The crisis is particularly acute in Ukraine, where the energy network was already severely strained by repeated Russian attacks.

• European stock markets mostly declined as investors reacted to escalating tensions in the Middle East and a corresponding rise in oil prices. • Market volatility is being driven by geopolitical instability, which has pushed energy costs higher and pressured equity valuations. • Investors are now awaiting the release of June economic sentiment indicators, specifically focusing on consumer confidence and business conditions.

Beijing, whose stockpiles and renewables industry allowed it to withstand energy shock, is now gaining from global solar and EV pushChina has emerged as the sole winner in Asia from the strait of Hormuz crisis, according to a report published on Tuesday.The report by the Asia Group thinktank concluded that China had weathered the storm of the global commodities crisis resulting from the closure of the Middle Eastern waterway, and also stood to gain from the economic and geopolitical trends sparked by the wider conflict. Continue reading...

• The European Union is implementing the Carbon Border Adjustment Mechanism (CBAM), shifting the focus of global energy competition from physical resources to regulatory frameworks. • While traditional energy diplomacy centered on securing oil fields, gas reserves, and pipelines, CBAM introduces environmental regulations as a tool for geopolitical influence. • This shift matters because it redefines the "energy war," moving away from the control of assets toward the ability to dictate the rules of the global energy economy.

• US stock futures surged following an agreement between the United States and Iran to halt military strikes after a weekend of clashes. • Both nations have agreed to resume diplomatic talks in Qatar this week, with negotiators aiming to secure a final peace deal within 60 days. • The market rally reflects investor optimism that Middle East de-escalation will reduce geopolitical instability and protect global energy prices.

• U.S. envoys Marco Rubio and Steve Witkoff are scheduled to fly to the Middle East to engage in fresh peace talks aimed at stabilizing the region. • The diplomatic mission comes as the existing ceasefire between Iran and the U.S. is reportedly at a breaking point, risking a return to open conflict. • These negotiations are critical to preventing a wider war and addressing the escalating tensions that threaten global security and economic stability.

Red warnings issued as record-breaking heatwave pushes east, with authorities urging people to stay indoorsParts of central, eastern and southern Europe sweltered on Monday as the “heat dome” behind last week’s record-breaking temperatures shifted east, bringing dangerous conditions to a new swathe of the continent.Budapest is forecast to exceed 40C on Tuesday, according to models from the European Centre for Medium-Range Weather Forecasts. Belgrade and Bucharest reached 38C and 37C respectively on Monday as the heatwave, which has been linked to hundreds of deaths in western Europe, moved east. Continue reading...

Western states experience unseasonally low temperatures but New York and Washington DC could reach 40C by the end of the weekUnseasonal snow has fallen in some parts of the US, while other parts of the country brace for a heatwave this week.A strong cold front spread into the western US from the northern Pacific over the weekend, bringing an abrupt change in conditions to a region that had been experiencing high summer temperatures amid drought. Temperatures from the Canadian border to California have widely been 5-10C below the norm since Friday, and more than 10C below in some parts farther north. The pattern is expected to remain for much of the coming week. Continue reading...

• Asian stock markets remained stagnant as investors balanced geopolitical tensions in the Middle East against expectations of potential interest rate hikes. • Market sentiment is currently caught between regional instability and the anticipation of central bank policy shifts regarding monetary tightening. • Despite the volatility, some analysts remain moderately constructive on the investment outlook for the second half of the year.

Germany, Czechia, Poland and Hungary reached record temperatures of more than 40C on Sunday Good morning, or dzień dobry, from Warsaw, Poland as the heatwave that affected much of the continent last week continues to impact central and eastern Europe.It’s 9am local time and already 32C. I have seen two people cycling home with large fans, trying to get back before the heat hits the fan again. None of this is normal. Continue reading...

• Asian equities traded cautiously on Monday, with Japan's Nikkei slipping 1% and South Korea's Kospi falling nearly 2%, dragging the MSCI Asia-Pacific index down 0.4%. • Market instability is being driven by lingering uncertainty regarding a Middle East ceasefire and investor fears that the US Federal Reserve may implement further interest rate hikes. • The situation is further complicated by the US dollar hovering near a one-year high, though US and European futures showed slight gains of 0.4% and 0.2% respectively.

• Asia-Pacific markets showed mixed results as investors weighed geopolitical tensions between the U.S. and Iran alongside corporate investment plans from major tech firms. • Regional indices saw varied movement, with Japan's NIKKEI falling 0.50% to 69,011.93 and South Korea's KOSPI dropping 0.88%, while Hong Kong's HSI rose 0.89% to 22,874.71. • Market volatility is driven by anticipation of upcoming U.S. employment data, specifically the nonfarm payrolls report, which may signal persistent inflation.

Show at Martin Gropius Bau gallery in Berlin is biggest ever celebration of an East German female artist in a state museumGabriele Stötzer remembers the days when she had to decide: “Am I buying a sausage, or film for my Super 8 camera?”Stötzer was one of the most radical artists in communist East Germany, and her desire to create was born in defiance of and in spite of the material conditions and oppressive restrictions of the GDR regime. Continue reading...

• Indonesian universities are increasingly partnering with Chinese institutions, including Tsinghua University and Sichuan International Studies University, signaling a shift away from traditional Western academic ties. • These collaborations aim to train a specialized workforce for critical sectors where China is a major investor, such as electric-vehicle batteries and nickel processing. • Dr. Prita Kemal Gani, founder of LSPR, stated that these ties are designed to enhance research development, cultural exchange, and industry engagement for students and faculty.

Bondi attack inquiry broadcasters will be called as commission focuses on traditional and social mediaFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastRepresentatives from the ABC and SBS will be called as witnesses to the royal commission into antisemitism and social cohesion, after complaints were made to the inquiry about their coverage of the Middle East.On Monday, counsel assisting Richard Lancaster SC said some submissions to the royal commission – established after the Bondi terror attack – are “highly critical” of the public broadcasters’ reporting on the Middle East conflict. Continue reading...

More than 191m people in Europe face temperatures over 35C, with extreme heat warnings from Germany to Hungary‘A sad inevitability’: after decades of climate warnings, why is Europe so unprepared for rising heat?Poland, Czechia and Slovakia are braced for record temperatures of over 40C as a heatwave linked to hundreds of deaths in western Europe spreads east.More than 191 million people in Europe faced temperatures of at least 35C on Sunday, with extreme heat warnings in Germany, Czechia, Poland and Hungary. Continue reading...

Iran attacked Bahrain and Kuwait after US strikes, and threatened a ‘complete halt’ to talksUS and Iran trade strikes as both sides accuse the other of endangering ceasefireWelcome to our live coverage of the crisis in the Middle East.Earlier this morning, Iran has said it launched a joint missile and drone ⁠operation targeting ​eight US military ‌sites in ‌Kuwait and Bahrain. This comes after the US launched further strikes on multiple targets in Iran, a day after it struck Iran in retaliation for a drone attack on a cargo ship in the strait of Hormuz.Ishaq Dar, Pakistani foreign minister, has reportedly held talks with his Bahraini counterpart, Abdulatif bin Rashid Al Zayani, over the phone to discuss the evolving regional crisis. This comes after Bahrain said it had intercepted a number of missiles and drones from Iran.Several Iraqi political officials were arrested early Sunday on corruption charges, Iraq’s state-run Iraqi news agency reported. It said the arrests were based on statement made by former deputy minister of oil Adnan al-Jumaili, who was arrested last month, and “included members of parliament whose immunity had been lifted.”Israeli soldiers have shot and wounded a Palestinian in the Qalandiya refugee camp – north of occupied East Jerusalem. Israeli forces also detained two people and raided homes, according to Wafa news agency. Continue reading...

• The author proposes the development of a regionally focused AI model for Indonesia, Singapore, Malaysia, and Taiwan to counter the impact of U.S. export controls on advanced semiconductors and AI. • This strategy aims to provide these nations with the necessary high-performance technology to industrialize and upgrade their economic structures. • Such a regional collaboration is framed as an economically rational and feasible project, provided there is a cohesive vision and implementation strategy.