Iran claims US-Iran talks in Switzerland have led to the lifting of blockades, release of frozen assets, and a reconstruction plan. Pakistani and Qatari mediation is credited. The next key challenge is deconfliction in Lebanon.
Amazon, Google, and Microsoft admit AI startup Anthropic leads in "frontier" AI models, especially for coding. However, executives state they are not concerned, citing specialized foundations and distinct development timelines to close the gap.
Hong Kong is poised to become Asia's multilateral hub, moving beyond its 'Asia's World City' status. This opportunity arises as global governance architecture shifts, with the US withdrawing from multilateral roles and China stepping into leadership. UN agencies are decentralizing, relocating positions from traditional hubs to new locations like Germany, Spain, Bangkok, Nairobi, and Dubai, creating a vacuum Hong Kong can fill.
Wollongong residents in Bellambi Estate are protesting a rezoning plan that will replace social housing with new units, decreasing the proportion of social housing from 90% to 30%. While proponents cite the need to address homelessness, residents fear community destruction and a 'reverse Robin Hood' scenario.
Hong Kong teachers must complete 30 hours of digital education training every three years. Schools will integrate digital elements into development plans, and an innovation/tech curriculum will be rolled out for pupils, with AI integration a key focus.
St. Petersburg celebrates 130 years since the first film screening in Russia, held at the site of the Lenfilm studio. Governor Beglov announced major development plans for the historic studio, aiming to produce patriotic, youth, and children's films.
Osaka City announced plans to solicit bids for the second phase of development of the Yumeshima Expo site in late June/early July, with a decision on the developer expected around February next year. The 50-hectare area will preserve part of the Expo's iconic Grand Roof Ring, with a memorial hall and park planned.
South Korea's Ministry of the Interior and Safety announced the '2nd Comprehensive Development Plan for the Five Western Islands' (2026-2035), allocating 672.2 billion KRW for 76 projects to improve living conditions and economic stability for residents.
Saudi Arabia is capitalizing on the Iran conflict to boost its role as an energy and logistics hub, diverting trade through its Red Sea ports and East-West pipeline. Despite global trade disruptions, the kingdom's oil revenues have surged, and its stock market remains resilient, though overall growth forecasts have been adjusted.
South Korea's Ministry of SMEs and Startups held a meeting with five major consumer cooperative federations to discuss development plans and institutional improvements for consumer cooperatives, following the transfer of their jurisdiction from the Fair Trade Commission to the ministry.
HKEX and Boursa Malaysia announced plans for cross-border collaboration including ETFs and dual listings at the 40th AOSEF General Assembly. The first major collaboration grants Da Cheng International Asset Management a licence to issue an ETF tracking the HKEX Bursa Malaysia Large Cap Index, comprising 62% Hong Kong stocks and 38% Malaysian shares. About 30 Malaysian companies are currently listed in Hong Kong, representing nearly a third of 103 Southeast Asian issuers.
