AGP Executive Report

US-Iran Tensions: Iran says a draft framework with the US would lift a naval blockade, reopen Strait of Hormuz traffic, and pull US forces from the Gulf—amid a fragile ceasefire. Legal Clash in Washington: Former US President Joe Biden sues the Justice Department to block release of audio and transcripts tied to his 2016–2017 conversations with a biographer. Middle East Security: Czech Foreign Minister Petr Macinka tells the UN Prague is ready to help secure Hormuz and backs stronger NATO defense spending. Cyber Accountability in Europe: Lithuania’s PM faces calls to resign after a Centre of Registers breach allegedly leaked up to 600,000 real estate records; President Nausėda says the public was informed too late. Trade Pressure: US trade czar warns tariffs on Canada and Mexico will stay even under CUSMA, with Canada “in a different spot” for negotiations. Business & Policy: Uzbekistan’s Mirziyoyev signs new small-business benefits, including a higher threshold for moving to the general tax system and VAT refund changes for catering. Higher Education Shake-up (US): Michigan State President Kevin Guskiewicz resigns to become Clemson’s next president, citing board discord. Sports (US): The Jets trade special-teams player Irv Charles to the Seahawks.

Trade Deal Push: India and Canada are racing to wrap a free-trade pact by year-end, with a target to triple trade to $50B by 2030. Middle East Energy Shock: Oil jumped about 3% after US strikes in Iran, with shipping through the Strait of Hormuz still tight and any peace deal likely to reopen flows only gradually. Fiscal Pressure: Kenya’s Treasury warned its budget is “rigid,” with most revenue already locked into debt, salaries, and county costs—leaving little room for new stimulus. AI for Real Work: UiPath’s Feiran Hao says most firms can’t get value from AI because they deploy tools in silos; “business orchestration” is the missing layer to connect workflows, approvals, and system triggers. Security & Courts: Nigeria’s EFCC arraigned a man over alleged N25m fraud using a fake presidential adviser identity, while it also moved ex-power minister Saleh Mamman to Kuje prison to start a 75-year sentence. Regional Diplomacy: Japan welcomed the Philippine president in Tokyo as ties mark 70 years, while Nepal’s PM told EU ambassadors his government will visibly improve living standards.

Philippines Politics: San Carlos Bishop Gerardo Alminaza blasted a two-hour Senate debate over a video tied to Senator Imee Marcos as a “waste of time,” urging lawmakers to focus on wages, food prices, corruption, and basic services. Diplomacy & Energy: President Ferdinand Marcos Jr. heads to Japan for a four-day state visit, pitching deeper cooperation on agriculture, energy and decarbonization amid an ongoing oil crisis. AI & Infrastructure: China’s top planners say six major “networks” for the digital economy—including next-gen power grids and communications—will get implementation plans soon, building on 5G’s big economic push. Privacy Crackdown: Erie County, New York, signed a law banning commercial collection, use, and sale of biometric identifiers. Defense Industry: Israel’s Elbit Systems reported soaring profit and a record order backlog as global defense demand stays hot. Health & Business: Eli Lilly agreed to buy three vaccine firms for $3.8B, while Canada and India move toward a CEPA trade deal with talks aimed at concluding this year.

Emergency Response: President Trump signed an emergency declaration for the Garden Grove toxic tank incident, clearing the way for federal disaster aid as Orange County crews report tank temperatures and pressure are dropping after hazardous-materials teams removed a shroud. Diplomacy & Security: In New Delhi, Quad foreign ministers—India’s Jaishankar, Australia’s Penny Wong, Japan’s Motegi and US Secretary of State Marco Rubio—focused on Indo-Pacific maritime security, critical minerals, emerging tech and resilient supply chains amid West Asia and Ukraine tensions. Health & Biotech: AGC Biologics was picked by Teikoku Seiyaku to develop and manufacture KTP-001 for lumbar disc herniation, covering cell bank work and GMP clinical production. Markets & Business: Nigeria’s Q1 2026 GDP grew 3.89% (NBS), while Malaysia’s ITMAX shares jumped after stronger Q1 earnings tied to digital infrastructure. Tech & Industry: Europe faces a growing AI “dependency trap,” with Allianz warning of an infrastructure gap versus the US and Asia. Higher Ed: Mitch Daniels was approved as interim Purdue president starting July 1.

Sports & Deals: ESPN’s NBA insiders float a blockbuster offseason idea: the Lakers land Daniel Gafford (from the Mavericks) in a swap that sends Jarred Vanderbilt, Dalton Knecht, and a 2026 first-round pick to Dallas—aimed at upgrading LA’s center fit next to Luka Doncic. World Cup Politics: Mexico’s President Claudia Sheinbaum says Iran’s national team can stay in Mexico for the tournament after the US objected to hosting them, with FIFA involved and the squad base shifting to Tijuana. Finance Regulation: Egypt’s FRA approved new licences for eight non-banking financial firms, including asset management, venture capital, consumer finance, and healthcare programme administration. Business & Growth: Qatar reports a 66% jump in non-Qatari company registrations in Q1 2026 (3,295 firms). Regional Diplomacy: Pakistan’s army chief Field Marshal Syed Asim Munir meets China’s PM Li Qiang in Beijing during Shehbaz Sharif’s visit. Money & Markets: India’s rupee gains 34 paise to 95.26 per dollar on hopes for a US-Iran peace deal and Strait of Hormuz easing. Local Governance: Bangladesh’s Chittagong Chamber elects Seacom’s Amirul Haque as president for 2025–27.

Markets & Tech Momentum: A Korea chip-led rally is pulling global ETF demand, with Hong Kong’s CSOP preparing a Kospi 200 ETF for offshore investors. Corporate & Capital Raising: Malaysia’s Eckem Holdings targets a RM15m IPO on Bursa’s ACE Market, while VentureTECH backs Pacton Technologies to scale its AI/IoT aquaculture platform across ASEAN. Big Tech Infrastructure Deal: All In FutureTech Alliance plans to buy a 57.67% stake in HyalRoute Fiber-Optic for about US$2.31b, betting on fibre networks for AI connectivity. Energy Transition Moves: New Zealand unveils a gas-transition loan guarantee to cut gas use by at least 15% and protect jobs; Malaysia also pushes digital payments partnerships. Geopolitics & Trade: US Secretary of State Marco Rubio’s India visit aims to steady tariff-strained ties and advance a broader trade deal; regional ministers condemn Israel’s Ben-Gvir over Gaza flotilla detention. Safety & Human Cost: A speeding milk tanker in Indore killed a biker and injured a companion, as investigations begin.

Philippines Politics: Malacañang denied claims that the plunder case against Sen. Rodante Marcoleta and campaign donors is politically motivated, saying the Ombudsman—an independent body—drove the filing based on the senator’s own statements. Philippines Opposition Clash: Davao Mayor Sebastian “Baste” Duterte renewed attacks on President Ferdinand Marcos Jr., accusing him of worsening drugs, crime and corruption and warning of “martial law” conditions without a formal declaration. Middle East Rights: Arab and Turkish foreign ministers condemned Itamar Ben-Gvir’s treatment of detainees on a Gaza-bound flotilla, calling it humiliation and a violation of international law, while Israel’s President Herzog warned of “brutalization” in society. US-Iran Diplomacy: US lawmakers split over a reported Iran deal—Republicans more upbeat, Democrats calling it a return to the pre-war status quo. Trade & Economy: China will release Greater Bay Area foreign trade data as a whole; gold prices edged up on uncertainty; and India’s Piyush Goyal heads to Canada with a large business delegation to push trade talks.

Middle East Diplomacy: Saudi Foreign Minister Prince Faisal spoke by phone with Syria’s counterpart Asaad Al-Shaibani, while Saudi and Pakistan interior chiefs discussed security cooperation. Cost-of-Living Pressure: Fuel prices are climbing again, squeezing household budgets in Tamil Nadu as global supply disruptions tied to the Iran conflict ripple into transport, food and daily essentials. Trade Push: India’s Piyush Goyal heads to Canada (May 25–27) for CEPA talks and business meetings, aiming to lift bilateral trade toward $50bn by 2030. Politics & Governance: France imposed an entry ban on Israel’s far-right Ben-Gvir after Gaza flotilla detainee footage sparked outrage; in Serbia, tens of thousands protested for early elections and clashes broke out with police. Local Watch: Kerala Governor Rajendra Arlekar called it “unfortunate” that politics has no minimum education requirement. Business/Tech: A Malaysian micro-business owner says bank accounts were shut after a small disputed deposit linked to an online scam.

Senegal Political Shock: President Bassirou Diomaye Faye sacked PM Ousmane Sonko and dissolved the government, deepening a crisis after months of rivalry inside the ruling Pastef party—no replacement PM named yet. Middle East De-escalation Push: Qatar’s PM and foreign minister held calls with the UK and UAE, backing Pakistan-led mediation between the US and Iran to prevent renewed escalation; Egypt also coordinated with a US envoy on keeping tensions down. Trade Power Moves: Mexico and the EU signed a long-delayed free trade deal covering services, digital trade, procurement and farm goods, aiming to cut US dependence. Regional Routes Watch: Iraq is exploring a 1,200-km overland trade push via Turkey through Syria, potentially reshaping Middle East logistics. South Asia Politics & Policy: India’s youth “Cockroach Janta Party” debate drew fresh fire from rapper Santy Sharma over “blind internet activism,” while Bangladesh’s law minister said about 50,000 disputes could be settled via mediation in three months. Africa Party Politics: Nigeria’s APC primaries kept rolling—Tinubu claimed landslide wins in Edo and other states, with leaders touting internal democracy. Travel Demand: Malaysia’s KTMB is set to run a record 347,000 seats for the Aidiladha-Wesak break.

Cuba Crisis: Havana is living through “asphyxiation” — fresh reporting shows blackouts, food scarcity and mounting political pressure as bread and basic supplies fail to arrive, with residents describing near-total power loss and days without water. Trade & Diplomacy: Malaysia and New Zealand pledged tighter cooperation to blunt fuel and food-supply shocks, including sharing know-how on fertilisers and grains. Politics & Values: Malaysia’s PM Anwar Ibrahim urged unity at a Wesak conference, pushing back on “hate politics” and linking Buddhist sila, karuna and panna to Islamic teachings. Local Business Pulse: From Yorkville’s Makers Market to a Kirksville Christian bookstore opening, small communities are still finding ways to spend, hire and rebuild. Crime Crackdown: India’s Maharashtra expanded MCOCA to cow-smuggling and illegal cattle trade, warning networks will face tougher action. Tech/Customs: Zonos bought a U.S. customs broker to streamline low-value e-commerce entries as postal rules loom.

Fed Shake-Up: Kevin Warsh was sworn in as the new chair of the U.S. Federal Reserve, inheriting a tougher mix of inflation pressure, Iran-linked oil shocks, and political scrutiny of the central bank. Economic Mood: A Gallup poll shows U.S. economic confidence at a nearly four-year low, with most Americans saying conditions are getting worse. Trade Diplomacy: The EU is moving ahead on a potential trade deal with the U.S., while UK-EU talks keep circling the idea of a single market for goods—an option EU officials reportedly resist. Asia-Pacific Politics: Singapore’s foreign minister is set to visit China, and Malaysia is tightening social media access with age verification rules from June 1. Local Governance & Aid: In the Philippines, a senior citizen died after being hit while lining up for subsidized rice, prompting calls for a law to keep politicians out of aid distribution. Business & Deals: Ann Joo Resources proposes exiting upstream steel via a stake sale, while Mediaocean names a new President/COO to push AI-driven ad operations.

Aged Care Fallout: A disgraced South Sydney aged care operator still owes $5.99m, with families already repaid but the NSW Government waiting on reimbursement nearly three years after liquidation. Local Governance: A small town is moving fast on economic planning, naming Jenny Gingras as its new director of economic and community development starting June 1. Regional Politics: In the Kurdistan Region, PUK officials say talks with the KDP could restart within days to break the political deadlock. Middle East Diplomacy: Iran’s foreign minister met Pakistan’s interior minister in Tehran as Pakistan continues mediation in indirect Iran–US negotiations. EU Rights Pressure: European lawmakers are pushing the EU to impose human-rights sanctions tied to abuses against Gaza flotilla activists. Energy & Trade Context: With global energy strain and currency swings in the mix this week, multiple stories point to rising cost pressures—from medicine import risks in Sri Lanka to broader trade and investment moves across Asia and Europe.

Middle East Fallout on Markets: The UN cut its global growth forecast to 2.5% for 2026 and warned the Iran war and Strait of Hormuz disruption are pushing fuel, food and fertilizer prices higher, raising inflation and volatility. Eurozone/UK Slowdown: Fresh PMI data show the Eurozone slipping deeper into contraction and the UK economy shrinking as war-linked costs collide with political uncertainty. AI in Business: JPMorgan says it’s rolling out AI tools across investment banking, while a new global report argues AI is great at translation but struggles with cultural and local nuance. Digital Trade & Supply Chains: Malaysia launched a near real-time dashboard to track how global supply shocks hit the economy, and ASEAN customs officials met to modernize the ASEAN Single Window for faster cross-border trade. Regional Economy Watch: Kazakhstan’s Pavlodar region touts KZT 1.3 trillion in investment, and DRB-HICOM reports a Q1 profit jump driven by Proton and banking. Politics & Justice: Israel’s far-right security minister faces fresh backlash after taunting detained flotilla activists; in Cuba, the US indicted Raúl Castro over the 1996 shootdown. Local/Business: Sovcombank for Business launched pre-approved online loans for small firms.

Energy & Markets: Saudi Arabia says it’s using pipeline and Red Sea logistics to keep oil flowing and prevent price spikes as the Iran war and Strait of Hormuz disruption drag on, with warnings that the damage could last for years. US–Cuba Escalation: The US indicted former Cuban President Raúl Castro, signaling tougher pressure on Havana. Asia FX Stress: Iran-war oil shock is pushing emerging Asian currencies and bond yields toward worst-case levels, with analysts flagging deeper pressure for India, Indonesia and the Philippines. Global Growth Cut: The UN revised 2026 global GDP growth down to 2.5% citing the Mideast crisis and energy-driven inflation risks. Policy & Business: Fed stress-test transparency reforms face backlash in Washington; in Canada, B.C. business leaders say DRIPA is undermining investment certainty. Local Economy: Portland’s NBA team, the Trail Blazers, laid off 70+ business-side staff in a cost-cutting reorg. Women’s Safety: Dominican Vice President Raquel Peña admitted systemic failure after a surge in femicides and pledged urgent reform.

Cuba-US Escalation: The US has indicted former Cuban President Raúl Castro on murder-related charges tied to a 1996 shootdown, as Washington presses harder on Havana. Corporate/Consumer Watch: Target posted its biggest comparable sales jump in four years and lifted its outlook, but investors still punished the stock on a cautious forecast. Politics & Power: In Kenya, activist Boniface Mwangi reignited debate over who really runs the Ruto government, calling Deputy President Kindiki a “prefect” amid a matatu strike. US-Cuba Business Fallout: Canadian miner Sherritt is navigating sanctions pressure in Cuba while signing a preliminary deal that could shift control to a Trump-linked family office. Trade & Markets: Asian stocks mostly fell as bond yields rose and inflation worries lingered. Infrastructure & Skills: Malaysia is graduating its first batch of ECRL operations-and-maintenance trainees in China, aiming to build a local rail workforce. Regional Governance: Louisiana redistricting fights are turning personal behind closed doors, with lawmakers weighing how lines could boost or block future bids.

Global Growth Watch: The UN cut its global growth forecast to 2.5% for 2026, blaming the Middle East crisis for reigniting inflation and uncertainty, with Western Asia hit hardest. Public Health: Malaysia is tightening Ebola preparedness after WHO declared the Bundibugyo virus outbreak a PHEIC, monitoring travelers from Congo and Uganda while stressing no cases yet in Malaysia. Money & Markets: The Indian rupee slid to a record low near 96.90 per dollar, pressured by a stronger greenback, higher oil costs, and foreign outflows. Business Policy: Sri Lanka’s exporters warn a weaker rupee is eroding margins as imported fuel and inputs get pricier, while the Philippines’ BIR speeds up business closures for small taxpayers to get tax clearances in about three days. Politics & Governance: Nepal’s Supreme Court ordered bail for former minister Raj Kumar Gupta in a corruption case, and Malaysia’s political landscape shifts as Rafizi Ramli and Nik Nazmi Nik Ahmad take over Bersama. Tech & Industry: Amaryllo is set to unveil an AI-ready modular data center ecosystem at COMPUTEX, and a UK water innovation programme picked Rotorua’s Cetogenix tech for a $23m project.