Australia will extend its fuel excise cut at a reduced rate and partially reinstate the Heavy Vehicle Road User Charge (RUC). The RUC reduction will drop from 32 cents to 16 cents per litre from July 1 to August 2, before tapering off. The road freight industry is urging the government to scrap the RUC entirely until year-end.
The S&P 500 achieved its 11th winning week in 12 despite Federal Reserve signals of potential interest rate hikes. Positive developments in U.S.-Iran relations and a surge in chipmaker stocks, particularly Intel, fueled market gains. Oil prices dropped significantly following the U.S.-Iran MOU.
US-Iran talks in Switzerland were postponed Friday due to escalating conflict in Lebanon. Iran fired warning shots in the Strait of Hormuz, threatening closure, but later softened its tone after a new Israel-Hezbollah ceasefire. Both sides seek to avoid renewed hostilities.
EU leaders meet in Brussels for a two-day summit addressing competitiveness, trade, Ukraine, the Middle East, defense, and the bloc's next seven-year budget. The summit is the first since leadership changes in Hungary and Bulgaria.
US President Trump announced a deal with Iran, set to reopen the Strait of Hormuz on June 19. He also stated the US will focus on Ukraine after the Iran deal. Meanwhile, Belarus leader Lukashenko believes US pressure on Iran will cease, and Turkey will increase transit fees through its straits.
Uddhav Thackeray's Shiv Sena (UBT) has called a meeting of all MLAs and MLCs on June 22 amidst speculation that some MPs may defect to Eknath Shinde's faction. Shinde faction claims "Operation Tiger" is in final stages, while Thackeray faction dismisses these as BJP's attempts to break parties.
A high-level committee on demographic changes, led by retired Justice P.P. Naolekar, will examine causes and impacts of demographic shifts, including illegal immigration, across India. The panel will visit metropolitan, industrial, and border areas and recommend policy frameworks to address the issue within a year.
China's National Disaster Reduction Committee convened a meeting with multiple ministries to address extreme weather events. The meeting aimed to analyze existing problems, improve response mechanisms, and enhance capabilities in preventing and responding to disasters caused by severe weather, following recent incidents that led to casualties.
South Korean Prime Minister Kim Min-seok will hold a meeting with ministers on Thursday to address ballot shortages reported during last week's local elections, following public outcry and protests.
Israel and Lebanon agreed to a ceasefire, contingent on Hezbollah's withdrawal from South Litani Sector. The US House passed a resolution limiting Trump's war powers. Separately, an Indian national was killed in a Kuwait airport strike.
Israel and Lebanon agreed to a ceasefire, contingent on Hezbollah's withdrawal from South Litani Sector. Meanwhile, the US House passed a resolution to limit President Trump's war powers, though it awaits Senate approval. Trump also made controversial remarks about Israel and Iran.
Israel and Lebanon have agreed to a ceasefire following US-led talks, contingent on Hezbollah ceasing fire and withdrawing from the South Litani Sector. The agreement comes amid escalating conflict, with Israeli strikes killing nine in Lebanon and Hezbollah launching rockets into Israel.
The administrator of Hong Kong's fire-ravaged Wang Fuk Court, Hop On Management Company, will arrange an extraordinary general meeting for displaced owners. The company is reviewing a Lands Tribunal judgment that dismissed its application to extend statutory deadlines for the meeting.
Russia's UN envoy Vasily Nebenzya accused Romania of convening a UN Security Council meeting to create an "anti-Russian information wave" at the West's behest following a drone crash in Romania. Bucharest blamed Russia for the incident, while President Putin suggested it was a Ukrainian drone and offered an impartial investigation if wreckage is provided.
Panama's Foreign Minister Javier Martinez-Acha called for dialogue over confrontation with China at a UN Security Council debate, amid deteriorating relations due to a canal dispute, while China's Wang Yi warned of disregarded UN Charter purposes.
China's National Flood Control Headquarters and Ministry of Emergency Management are holding consultations on heavy rainfall expected to affect multiple regions. The meeting focuses on flood prevention and disaster relief efforts in key areas like Chongqing, Hunan, Hubei, Henan, Jiangxi, Anhui, and Jiangsu.
Syrian parliament to convene June 8 after elections, with President appointing 70 members. Iraq anxiously awaits US-Iran ceasefire talks, facing severe financial strain due to halted oil exports.
Brazilian President Lula da Silva urged US President Donald Trump to host a meeting of UN Security Council permanent members at the White House to discuss reforming the organization. Lula emphasized that Brazil, Germany, Japan, Nigeria, Ethiopia, India, South Africa, and Mexico should be members, citing modern geopolitics differing from 1945.
Thomas Tuchel has announced England's World Cup squad, leaving out notable players like Harry Maguire, Cole Palmer, and Phil Foden, sparking controversy and disappointment among players and fans. Despite the backlash, Tuchel defended his selections, emphasizing team spirit over individual talent.
The UN Security Council will hold an emergency meeting on Friday at Russia's request following a Ukrainian drone attack on a dormitory in Starobelsk, which killed four and injured 39, with 86 teens present.
The UK's Global Partnerships conference highlighted the aid sector's crisis, with large charities criticized for hoarding power and funds, hindering localization efforts. Experts call for a new model channeling resources directly to local actors.
Quad diplomats from the US, Japan, Australia, and India will meet in New Delhi on May 26. Meanwhile, a satirical 'Cockroach Janta Party' has emerged in India, criticizing the government and facing a government order to block its social media accounts due to 'national security concerns'.
Wrexham forward Josh Windass has called for the Championship playoffs to be restarted with Wrexham included, following Southampton's expulsion for spying. Southampton is appealing the decision.
President Trump met with his national security team on May 18 to review options for military action against Iran, despite having previously delayed an attack. The meeting, which Axios reported on, suggests Trump is still considering renewed conflict.
