The index fell below 50 for the second time in three months, signaling contraction amid weaker demand and rising costs. Australia’s services sector contracted in May as the PMI slid to 48.7 from 50.7 in April, marking the second decline in three months. New orders shrank a
The Pound Sterling gains against the Japanese Yen amid optimism over potential US-Iran negotiations despite regional tensions. The GBP/JPY pair climbed 0.24% on Tuesday, extending its uptrend as traders priced in progress toward a US-Iran deal. Sentiment improved despite r
May’s final S&P Global Services PMI for Australia improved to 48.7, surpassing expectations and signaling a slower contraction. Australia’s final S&P Global Services PMI climbed to 48.7 in May, up from April’s 50.7, beating market estimates. The reading indicates a contrac
A House of Lords committee argues proposed limits of 20,000 GBP for individuals and 10 million pounds for businesses may be premature. A UK House of Lords committee has called on the Bank of England to reconsider proposed stablecoin holding limits. The central bank suggest
The Bank of England launches a public consultation to select native wildlife for its next banknote series, set to enhance counterfeit resilience. The Bank of England has opened a public consultation to choose wildlife native to the UK for its next series of £5, £10, £20, a
The June 1 implementation of CEPA removes tariffs on 98% of Omani goods, offering India an alternative route as Iran tensions escalate. India’s Comprehensive Economic Partnership Agreement with Oman entered into force on June 1, providing an alternative trade corridor as I
US sanctions four Iranian crypto exchanges The US Treasury Department's Office of Foreign Assets Control designated four Iranian cryptocurrency exchanges for sanctions violations. The sanctioned platforms include Nobitex, Iran's largest digital asset exchange, as w
Senate and House committee leaders warn Labor Department policy risks exposing $10.1 trillion in retirement savings to volatile digital assets. A bipartisan group of US lawmakers urged the Labor Department to reverse plans allowing cryptocurrencies in 401(k) retirement acc
China's SAIC Motor will build a 120,000-vehicle annual capacity electric vehicle factory in Spain with a 200 million euro investment by 2028. Chinese automaker SAIC Motor will construct its first European Union electric vehicle manufacturing plant in Spain’s Galicia region
UOB forecasts China’s second-quarter GDP growth at 4.7%, down from 5.0% in 1Q26, citing soft manufacturing and modest services rebound. China’s GDP growth is expected to slow to 4.7% year-on-year in the second quarter of 2026, down from 5.0% in the first quarter, as manufa
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