Markets & Rates: Hong Kong stocks and oil slipped as Middle East ceasefire worries and renewed bets on a US rate hike hit risk appetite, after May US inflation stayed around expectations but still ran above a three-year high. AI & Business Costs: Chinese AI models are winning developer usage with far lower pricing than US rivals, pushing routine workloads toward cheaper systems. Wealth & Finance Hub: Hong Kong overtook Switzerland as the top cross-border wealth booking center, with wealth assets rising to $2.95tn in 2025 and single-family offices climbing. Global Risk Watch: South Africa’s central bank flagged rising developed-economy sovereign debt and refinancing pressure as a threat to global financial stability. Corporate Governance: KKR says South Korea’s corporate reform could unlock valuation upside, arguing the “Korea discount” has been self-inflicted by weak governance and payout policies. Policy & Budgets: Bangladesh plans an expansionary FY27 budget with higher spending aimed at growth, subsidies and public pay. Fraud & Regulation: Iowa signed the STOP Fraud Act to help crack down on fraudulent business filings using residents’ addresses. Local Economy Hits: Vermont’s Franklin Foods will close its Enosburg Falls plant, threatening nearly 100 jobs and ripple effects across local agriculture. Business Expansion: OCBC Malaysia will let Singapore-based owners open business accounts remotely via Singpass, cutting weeks of paperwork. Energy Relief: Kenya says diesel prices will be reduced soon to ease business operating costs.