The Bank of Japan has increased its main interest rate to 1%, a 31-year high, driven by rising global energy prices and inflationary pressures. This move signals a shift away from two decades of near-zero rates and deflationary policy.
The price of high-purity tungsten hexafluoride has surged over 200% year-on-year to over 1,700 yuan ($251) per kg due to supply bottlenecks and rising demand from the semiconductor industry. Japanese producers Showa Denko Kanto and Central Glass plan production suspensions in July, potentially disrupting supply to major chipmakers like Samsung Electronics.
A massive attempt to launder $120.2 million using Monero (XMR) caused its price to surge 33% to $438 due to low liquidity. On-chain detective ZachXBT exposed the scheme, leading Tether to freeze $72 million in USDT, thwarting the conversion to Monero.
Employees at AI companies like OpenAI and Anthropic are poised to make billions from upcoming IPOs, driving up San Francisco Bay Area home prices. Median prices hit $2m in March 2026, with homes selling in a record 29 days. Experts predict continued demand despite low supply.
BT CEO Allison Kirkby's pay and bonus package surged to £5.6m, more than double her previous year's earnings. The award, the largest for a BT boss in over a decade, reflects the company's improved share price following a restructuring and network investment.
Asian markets declined significantly due to rising oil prices and Middle East tensions, with Hong Kong, Shanghai, and Shenzhen leading the losses. European markets are also set for further declines ahead of ECB meetings and potential US attacks on Iran.
The iconic FIFA World Cup trophy, the "Trophy of the World Cup," has seen its gold value skyrocket by 157% since the 2022 Qatar World Cup, reaching approximately $713,000 USD. This surge reflects broader commodity price increases driven by geopolitical tensions, inflation fears, and central bank buying.
South Korea is expected to shift from a trade deficit to a surplus with China in 2024, driven by a surge in memory chip prices. Semiconductors, led by Samsung Electronics and SK Hynix, constitute a significant portion of South Korea's exports to China.
Major South Korean retailers like E-Mart and Lotte Mart have imposed a one-carton purchase limit per person on discounted eggs until May 10th due to persistent price hikes driven by avian influenza. This measure aims to ensure wider customer access to the subsidized eggs.
Asia-Pacific markets are expected to open lower, mirroring Wall Street's decline, as elevated oil prices due to Iran-US tensions fuel inflation concerns. Israel and the US are prepared to strike Iran again if necessary.
Japan's government approved a ¥3.1135 trillion supplementary budget to address rising oil prices due to Middle East tensions. The plan includes a ¥2.5 trillion reserve for fuel subsidies and support for electricity/gas bills, funded by deficit-covering bonds.
Gold has overtaken US Treasuries as the world's primary reserve asset, with central banks' holdings reaching 27% of total reserves by end-2025, up from 20% a year prior. US Treasuries fell to 22% from 25%. This shift is driven by a historic gold price rally and central banks seeking alternatives to the dollar.
Eurozone inflation hit 3.2% in May, the highest since Sept 2023, driven by oil prices from the Iran war. Energy costs rose 10.9%. The ECB is expected to raise interest rates in June.
Pakistan's consumer price inflation rose to 11.7% in May 2026, up from 10.9% in April, driven by a surge in fuel prices due to supply disruptions via the Strait of Hormuz. This led the central bank to raise interest rates for the first time in nearly three years.
Global food production faces significant disruption from the Iran war and El Niño, threatening UK food security. Experts warn the UK's reliance on global markets and its vulnerable domestic system require an overhaul to ensure resilience against climate change and geopolitical shocks.
NEAR Protocol's price surged 34% to $2.32, leading AI crypto tokens in a rally. Network upgrades focused on AI, privacy, and scaling, coupled with NVIDIA's strong revenue forecast, boosted investor confidence and trading volume.
The EU will temporarily suspend tariffs on fertilizers to combat global price hikes, driven partly by the closure of the Strait of Hormuz. The move excludes imports from Russia and Belarus, which are significant suppliers.
India's economy has been repeatedly reshaped by oil shocks, from inflation and forex pressure to wider economic shifts. The country has navigated five decades of crude disruptions, from the 1973 Arab embargo to the recent Hormuz crisis, adapting its policies and sourcing strategies.
Fuel consumption in France fell 14% from May 1-20 compared to last year, with a 11% drop in April. Minister Roland Lescure defended targeted government aid of €710 million for affected professionals, refusing broad subsidies like in 2022 due to public finances.
Arvind Panagariya, Chairman of the 16th Finance Commission, advised the Reserve Bank of India to allow the rupee to depreciate rather than defend it with forex reserves, citing rising oil prices. He believes defending the currency is a losing strategy that drains reserves.
Hyperliquid (HYPE) price surged past $50, driven by strong early demand for its spot ETFs, which outperformed Bitcoin and Ethereum products on a market-cap-adjusted basis. The platform's expansion into non-crypto markets and its unique fee structure are attracting institutional interest.
Surging gold prices are leading to hundreds of millions of dollars being invested in retrofitting three mothballed nickel plants in Western Australia to produce gold. This marks a reversal for an industry that previously saw gold mines closed for nickel production.
India faces a complex inflation scenario as wholesale prices soar due to fuel costs, while retail inflation remains subdued. A recent fuel price hike is expected to push retail inflation higher, impacting household budgets. The RBI will monitor global crude prices, monsoon impact, and wholesale-to-retail price pass-through before adjusting interest rates.
European stocks opened lower Monday amid rising oil prices and bond sell-offs, driven by U.S.-Iran tensions. Ryanair shares dropped despite reporting a profit increase.
