News
Lee Jae-myung takes office as South Korean president after snap election
He stepped into the role at 6:21 am local time, immediately succeeding acting President Lee Ju-ho without a transition period, due to the abrupt election triggered by the impeachment of former President Yoon Suk Yeol.
FBI disrupts attempt by Chinese academics to smuggle crop-killing fungus into US
Upon investigation, the material was identified as Fusarium graminearum, a fungus known to devastate crops such as wheat, barley, maize and rice, and to produce toxins harmful to humans and livestock.
BP acquires stakes in Karabagh and ADUA blocks, approves $2.9bn Shah Deniz Compression project
BP has deepened its presence in Azerbaijan’s offshore oil and gas sector with two major moves.
Russia’s Gazprom has quietly shelved Turkey gas hub plan, says report
Project praised by Putin no longer seen as viable, sources at energy giant cited as saying.
Venezuela and Iran deepen trade ties to circumvent sanctions at Caracas forum
Venezuela and Iran moved to reinforce their bilateral cooperation during a business forum held in Caracas on June 2, with senior officials from both nations discussing new trade and technology initiatives.
Ukraine’s secret services hit Kerch bridge with a 1,100kg bomb
Ukraine’s security services have claimed responsibility for a major underwater explosion that damaged the Kerch Bridge on June 3, the critical road and rail link between Russia and the occupied Crimean peninsula.
Mongolia’s PM loses confidence vote in rapid reversal of fortunes
Oyun-Erdene Luvsannamsrai set out to end corruption – but it was questions over his own wealth that proved his undoing.
El Salvador president attacks NGOs and press in defiant anniversary speech
El Salvador's President Nayib Bukele delivered a defiant speech marking one year since his re-election, dismissing criticism of his authoritarian approach while doubling down on his controversial security policies.
Iranian FM in Beirut for talks on stability and reconstruction
Iran's Foreign Minister, Abbas Araghchi, arrived in Beirut on June 3 to meet with the new government.
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Moody’s warns of Brazil’s rising debt burden, downgrades credit outlook
Brazil’s debt affordability is deteriorating and progress on fiscal reforms has proved slower than expected, clouding the sovereign credit outlook, credit rating agency Moody’s said.
Russia demands Ukraine's de facto capitulation with Istanbul demands
Russian and Ukrainian delegations met in Istanbul for the second direct ceasefire talks on June 1 that made little progress in laying out the groundwork for the mooted 30-day ceasefire suggested by the Trump administration in March.
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Hungarian banks report record year in 2024 with €5bn consolidated profit
Hungary’s banking sector delivered a record-breaking year in 2024, with consolidated net profits reaching a record HUF2 trillion (€5bn).
START missile treaty exposed Russia’s nuclear bombers to Ukrainian drone attack
The conditions of the START missile treaty signed between Russian President Vladimir Putin and former US President Joe Biden in January 2021 exposed Russia’s strategic nuclear bomber fleet to the devastating Operation Spiderweb drone attack.
Romania’s president expects fiscal plan by June 5, new government by mid-June
PNL interim president Ilie Bolojan seen as most likely next prime minister.
South Korea votes in pivotal election after martial law crisis
The election, held six months after Yoon’s controversial move, has attracted immense public interest. By 9 am, over 4mn people - roughly 9.2% of the 44.39mn registered voters - had already cast their votes across more than 14,000 polling stations.
President Nawrocki shakes Tusk government to the core
The four-party coalition of Prime Minister Donald Tusk appears to have been shaken to its foundations, as the fallout of June 1's presidential election has begun to spread on the following day.
Croatia’s Žito Grupa announces plans for IPO on Zagreb Stock Exchange
Agricultural and food production group to use IPO proceeds to support long-term strategic growth and strengthen Croatia’s domestic food production.
Bulgaria’s Anti-Corruption Fund reveals massive secret energy cartel
NGO’s investigation finds cartel comprising over 150 companies with turnover of €2.6bn owned by controversial businessman Hristo Kovachki.
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Mexico’s judicial elections falter amid low turnout and chaos
Mexico has held its first-ever judicial elections, a process hailed by the federal government as a landmark step towards democratic improvement. Yet the reality on the ground painted a far more fragmented and contentious picture.
Russo-Ukraine ceasefire talks in Istanbul break up with no progress
Russia and Ukraine held direct talks for the third time since the war started on June 2, but the meeting broke up with no real progress made.