ASIA & OCEANIA
Top 10 Stories
1. Trump-Xi Summit incoming — biggest geopolitical event of the week Trump is expected to arrive in Beijing on Wednesday evening and stay through Friday. The agenda spans trade, technology, rare earth export controls, Taiwan, the Iran war, and artificial intelligence. Nikkei AsiaCNBC
2. ASEAN Summit in the Philippines — Iran war fallout Southeast Asian leaders gathered in the Philippines to coordinate a joint response to the fallout from the US-Israeli war on Iran. Philippine President Marcos Jr said the conflict had been felt through higher living costs and threatened livelihoods across the region. Al Jazeera
3. Australia charged two women linked to ISIS An Australian mother and daughter face charges in Melbourne after returning from a Syrian detention camp, accused of "crimes against humanity" including enslaving a woman while living under the Islamic State's self-declared caliphate. The Manila Times
4. South Korea's KOSPI breaks records on tech optimism South Korea's Kospi topped 7,000 to hit a new high as heavyweight Samsung surged 15%. CNBC
5. Japan stuck in stagflation Japan's central bank left short-term rates at 0.75% despite forecasting inflation climbing to 2.8% this year — well above its 2% target — while growth hovers around 0.5%, a classic stagflation scenario. The yen averaged 159 to the dollar for over a month, sliding to multidecade lows. Asia Times
6. Mount Dukono eruption in Indonesia Mount Dukono erupted on Halmahera island, trapping hikers who had ventured into the area despite it being closed since April 17. Al Jazeera
7. Australia hikes interest rates again Australia hiked rates again and warned that inflation will stay higher for longer. CNBC
8. Australia-EU sign free trade, defence & minerals deal The European Union signed a free-trade deal with Australia, along with agreements on defence and critical minerals. Asia Financial
9. China's rare earth export suspension rattles global supply chains China's decision to suspend exports of a wide range of rare earths and magnets disrupted supply chains central to global automakers, with political and economic consequences across Europe, Japan, and South Korea. CNBC
10. South Korean humanoid robot ordained as Buddhist monk A Buddhist temple in Seoul introduced South Korea's first humanoid robot monk, ahead of Buddha's birthday celebrations. Al Jazeera
Asia & Oceania Economy
Korea's won sits at 17-year lows and China's trade surplus is cratering amid the oil shock triggered by the Iran war. The World Bank thinks energy prices will surge 24% this year to their highest since Russia's invasion of Ukraine. Vietnam and Malaysia — key manufacturing hubs importing Chinese inputs and exporting to the US — face pressure from both Washington and Beijing as the Trump-Xi summit approaches. Asia TimesChinatechnews
THE AMERICAS
🍁 Canada
Canada is eyeing closer ties with India, Japan, and Australia amid mounting tensions with the US. Carney's agenda includes expanding trade ties with India and boosting cooperation on critical minerals, technology and security. EU foreign affairs ministers also met informally with Canada's Foreign Affairs Minister Anita Anand this week. Asia Financial
USA
Americans are increasingly shifting their grocery shopping to budget stores and warehouse clubs amid economic pressure. Virginia voters approved redistricting that could help Democrats pick up four House seats, seen as a counter to Republican gains in other states. A ransomware group claimed credit for a data breach on Canvas, an education platform used by half of North America's higher education institutions — some schools are warning users not to log back in yet. NPR + 2
The Washington Wizards won the first pick in the 2026 NBA Draft, considered one of the strongest draft classes in years. NBC News
South America
Argentina is sending a major Súper RIGI investment bill to Congress today, offering 15% corporate tax, 60% first-year depreciation, and zero export tariffs — designed to unlock a US$140B pipeline and a US$10B Chevron Vaca Muerta project. The Rio Times
Clashes erupted in La Paz, Bolivia, as workers protest against rising fuel prices and damage caused by subsidy cuts. Brazil's Petrobras releases its Q1 2026 financial results today. Al Jazeera
EUROPE
1. Russia-Ukraine: ceasefire violations Russia and Ukraine are accusing each other of ceasefire violations. EU defence ministers this week are discussing military support for Ukraine and overall EU defence readiness. Al Jazeera
2. UK — Starmer under fire UK Prime Minister Keir Starmer vowed stronger performance as calls for his resignation grow. A Labour MP is also urging him to set a timetable for electing a new leader by September. Al Jazeera
3. EU re-engages with Syria The European Council launched the first EU-Syria high-level political dialogue, calling the move a clear political signal of renewed engagement. Al Jazeera
4. EU Hantavirus guidance The EU issued guidance for public health professionals on managing the Hantavirus outbreak linked to the M/V Hondius cruise ship, covering testing, quarantine, and protective measures. European Union
5. EU water pollution law enters into force New EU rules updating the lists of pollutants in surface and groundwaters took effect today, adding stricter controls on PFAS, pesticides, pharmaceuticals, microplastics, and antimicrobial resistance. European Union
6. European markets cautious The FTSE 100 remained relatively stable, supported by energy stocks. Germany's DAX edged higher, with industrial and export-focused companies showing resilience. Stl
7. Trump-Xi summit — European stakes A potential energy deal between the US and China could displace Japanese and European market share. Any Chinese commitments to invest in the US economy would further pressure European exporters. CNBC
The thread running through every story today: the US-Israel war on Iran, the Strait of Hormuz blockade, and the Trump-Xi summit in Beijing — three events reshaping global trade, energy, and geopolitics simultaneously.