Kazakh President Kassym-Jomart Tokayev signed a law on Monday prohibiting individuals from wearing clothing in public places that covers their faces, joining a trend in several Central Asian countries to restrict forms of Islamic dress.
The text of the law says clothing that “interferes with facial recognition” will be banned in public, with exemptions for medical purposes, in adverse weather conditions and at sporting and cultural events.
The legislation, one in a series of wider amendments signed into law on Monday, does not explicitly mention religion or types of religious dress.
Tokayev has previously praised the legislation as an opportunity to celebrate ethnic identity in Kazakhstan, a majority-Muslim country and former Soviet republic.
“Rather than wearing face-concealing black robes, it’s much better to wear clothes in the national style,” he was quoted by Kazakh media as saying earlier this year.
“Our national clothes vividly emphasise our ethnic identity, so we need to popularise them comprehensively.”
Other Central Asian countries have introduced similar laws in recent years.
Police in Kyrgyzstan have conducted street patrols to enforce their ban on the niqab face veil, according to local media reports. In Uzbekistan, violating the niqab statute carries a fine of over $250. Tajik President Emomali Rakhmon signed a ban on wearing clothing in public that is “alien to national culture”.
Instagram Threads is rolling out users’ most-requested feature to date: the ability to message people directly, without having to switch to another app, like Instagram. The company said direct messages (DMs) will begin rolling out to users globally beginning on Tuesday, alongside a new visual element called highlighter.
The latter will emphasize interesting perspectives and conversations, Meta says, starting with Trending Topics.
At launch, Threads DMs offer a basic set of features. They’ll support one-on-one chats, preset emoji reactions, the ability to report spam, and mute DMs (as on Instagram). Other features, like group messaging, inbox filters, and more advanced message controls, will arrive in a later release.
That means today, you can’t block a follower or mutual from messaging you — you can only block them on Threads, which will also block them on Instagram. To control who can message you, you have to choose whether or not you follow the user.
At launch, DMs will be available in most markets where Threads is available, except for Japan, Australia, the U.K., and the E.U.
With the addition of DMs, Threads becomes more competitive with other text-first social apps like X and Bluesky, where users can engage with one another directly or even in group chats, as in X’s case.
However, while X is working on encrypted direct messages within X Chat, Threads has no intention of tightly securing its private messaging feature.
Image Credits:Meta/Threads
“We’re not encrypting our DMs,” said Emily Dalton Smith, Threads VP of Product. “It’s really about just connecting directly and talking to people about whatever is happening now, which I think makes encryption less core to the experience.”
Instead, she said that DMs are meant to build on the community people have created in the public space on Threads — a network that’s shaping up to be entirely different from its parent app, Instagram, Smith pointed out.
Image Credits:Meta/Threads
“One thing that’s been particularly exciting is that we have seen that people are building their own graphs on Threads,” she said. “They’re building up what we think of as an interest graph that is new and distinct from the social graph that underlies their account on Instagram.”
Despite having been built on top of Instagram’s social graph, over a third of the people who come to Threads daily have less than a 50% overlap between their Instagram connections and Threads connections, Meta said.
“Instagram is really for creativity and Threads is really for perspectives,” Smith noted.
The company also found that users are following different sets of people across the two apps, Instagram and Threads, and are engaging in different interests and conversations.
Because of this growing disconnect between the apps, Meta aims to test other ways for people to use Threads without an Instagram account.
For instance, it’s testing the ability for users to log in with their Facebook account in Europe or create a Threads-only account. It’s also testing the ability to use Threads from the web while not logged in at all.
Image Credits:Meta/Threads
The Threads creator community is unique, too. Although it may include those who are popular creators on other platforms, some have become creators on Threads itself. One example is David Rushing, a passionate fan who built up the NBA Threads community.
Smith said Threads would like to make it easier for its users to find communities like this and others, and this is an important part of the app’s upcoming roadmap.
On this front, Threads initially introduced tags (like hashtags without the hash # symbol) to organize conversations. It then created topic feeds so you could see everything that was being discussed around that area of interest. Now, the focus will be on identifying the people who are active and top contributors within a community.
Threads expects to show more suggested users to follow in search and recommendations over the next couple of months, Smith said.
The new highlight feature could also help here.
While today, the feature will highlight trending topics related to the content you are reading while scrolling your For You feed, over time, Threads could highlight perspectives from users or active conversations that you might want to jump into, including within various topic feeds.
There are currently no other plans to monetize Threads beyond ads, Smith confirmed, even though Meta has an AI feature that could be integrated into the experience the way xAI’s AI chatbot, Grok, is used to sell X Premium subscriptions.
Instead, Meta is first focused on getting ads right, while using AI to power things in the background, like trending topics’ headlines and summaries, for instance.
That doesn’t mean the team will rule out AI features further down the road.
“We consider, probably, all ideas,” Smith said, “but we’re really just building on what our community tells us and trying to prioritize such a small and growing app.”
Threads is not small, to be clear; the app has 350 million monthly active users, far more than newcomers like Bluesky, which has 37 million registered users. But compared with Meta’s family of apps, where user bases are counted in billions, Threads still has much to prove to its corporate parent.
Ahead of the global launch, DMs were tested earlier this month in a few markets, including Hong Kong, Thailand, Argentina, and Brazil.
Where better to start than four-time world champion short track speed skater, Steven Dubois, who headed off to Japan at the end of last season for quite the trip.
Diving in spectacular but frigid waters that left him trembling with cold, taking in the thrum of iconic cityscapes, and posting food photos, lots of food photos, Dubois enjoyed his well-earned break in April after… oh we’re sorry, did we forget to mention it, after winning all four of the titles at one world championships, and in the edition before the next Olympic Winter Games to boot.
So yes, the lengthy break was clearly well-deserved after a mammoth 2024-25 season for the Quebec native, especially as he’ll likely feel a shift in focus toward him in Italy, after the retirement of compatriot and six-time Olympic medallist, including four gold, Charles Hamelin.
Winning Olympic gold in the 5000m relay alongside Hamelin, Maxime Laoun, and Pascal Dion, Dubois also won individual silver in the men’s 1500m, and bronze in the 500m, so looks to have picked up the mantle for short track excitement for Canada with ease.
But perhaps it’s no surprise Dubois has gone dark since his trip to the Far East, with no content posted on Instagram since April, as he goes into stealth mode with training ramping up.
It’s possibly also unnerving for his fellow competitors as all of them target being at the Milano Ice Skating Arena for the start of the Olympic short-track speed skating event on 10 February.
But qualification comes first.
Based on the ISU Short Track World Tour competitions, which determine the Special Olympic Qualifying Classifications(SOQC) in 2025, the three best results out of four of the ISU Short Track World Tour competitions will decide the quotas for the SOQC over the respective distances.
The first takes place in Montreal from 16 to 19 October, with many an eye likely trained on the favourite for mutliple events, Dubois.
Pakistan looking to sell excess LNG amid supply glut curbing local gas output — document
KARACHI/SINGAPORE: Pakistan is exploring ways to sell excess liquefied natural gas (LNG) cargoes amid a gas supply glut that could cost domestic producers $378 million in annual losses, according to a presentation and a government official familiar with the matter.
The country has at least three LNG cargoes in excess that it imported from top supplier Qatar and has no immediate use for, and is currently selling natural gas at steep discounts to local users, a second government official said.
Power generation from gas-fired power plants, which has historically accounted for a lion’s share of LNG use in the country, has declined for three straight years ended 2024, with cheaper solar power use dramatically gaining at the expense of gas-fired generation, data from energy think-tank Ember showed.
That has forced domestic producers of the fuel to curb production.
Pakistan is currently exploring the possibility of transferring LNG cargoes to rented tankers for “offshore storage and onward sale,” state-owned oil and gas producer OGDCL said in a presentation to industry and government.
“Excess LNG in the gas network has resulted in significant production operations impact for local exploration and production companies over last 18 months,” OGDCL said, adding that it had forced curtailment of domestic supply.
The domestic industry could suffer $378 million in losses over the next 12 months at the current rate of curtailment, according to the presentation dated May 29 reviewed by Reuters.
It is not immediately clear if Pakistan’s long-term LNG import contracts with QatarEnergy allows for a resale of cargoes. One of the government officials said the country was still exploring ways to do it.
Qatar typically has a destination clause in long-term supply contracts with buyers that restrict where the cargoes can be sold.
QatarEnergy did not immediately respond to a request seeking comment.
Pakistan has already deferred five contracted LNG cargoes from Qatar without financial penalty, shifting delivery from 2025 to 2026, as the country grapples with surplus capacity.
Pakistan’s petroleum minister Ali Pervaiz Malik declined to comment on the presentation, but said renegotiating contracts with Qatar was a “complex” process that could take at least a year, and a final decision on initiating it had yet to be made.
“While the existing contract with Qatar allows Pakistan to decline vessels, doing so incurs penalties and other complications,” Malik told Reuters.
The glut has stemmed from several gas-fired power plants, previously operating under must-run contracts, now being sidelined, Malik said.
“It was expected that summer season will create extraordinary demand but the trend indicates the opposite,” OGDCL said in the presentation.
The colour-magnitude diagram of the CPM companion stars to host stars of confirmed exoplanets (left) and TOI PCs (right), corrected for G band extinction. The background consists of the primary and secondary stars in the El-Badry et al. (2021) binary catalog. The companion sources below the main sequence are discussed in Section 6.1. — astro-ph.EP
We aim to discover whether the stellar multiplicity rate may provide information on the origin of recently discovered planets in the Neptunian Desert.
Using Gaia DR3 astrometry, we search for common proper motion companions to 1779 known exoplanet hosts and 2927 exoplanet candidate hosts from the TESS mission, both within 650 pc.
We find overall stellar multiplicity rates of 16.6±0.9% and 19.8±0.6% for confirmed and candidate exoplanets, respectively. We find stellar multiplicity rates of 16.7±5.8% and 27.5±2.6% for confirmed and candidate exoplanets in the Neptunian Desert, respectively. Hot Jupiter host stars were found to have rates of 25.8±2.1% and 22.9±1.3%.
For the sample of candidate exoplanets, we find higher stellar multiplicity rates for stars hosting both Hot Jupiters and Neptunian Desert planets compared to control samples of similar stars not known to host planets. For the sample of confirmed exoplanets an increased multiplicity rate is seen for Hot Jupiter hosts, but cannot be significantly determined for Neptunian Desert planet hosts due to small sample sizes.
If the candidates from TESS are indeed planets, the increased multiplicity rate observed could indicate that the Neptunian Desert and Hot Jupiter populations share similar formation mechanisms and environmental conditions. Alternatively, the TESS candidate high multiplicity rate could imply a prevalence of false positives related to binary and triple stars in this parameter space.
Fintan Eeles-Nolle, David J. Armstrong
Comments: Accepted for publication in MNRAS. 14 pages, 9 figures, 6 tables Subjects: Earth and Planetary Astrophysics (astro-ph.EP); Solar and Stellar Astrophysics (astro-ph.SR) Cite as: arXiv:2506.22399 [astro-ph.EP] (or arXiv:2506.22399v1 [astro-ph.EP] for this version) https://doi.org/10.48550/arXiv.2506.22399 Focus to learn more Submission history From: Fintan Eeles-Nolle [v1] Fri, 27 Jun 2025 17:15:41 UTC (862 KB) https://arxiv.org/abs/2506.22399
Astrobiology,
Explorers Club Fellow, ex-NASA Space Station Payload manager/space biologist, Away Teams, Journalist, Lapsed climber, Synaesthete, Na’Vi-Jedi-Freman-Buddhist-mix, ASL, Devon Island and Everest Base Camp veteran, (he/him) 🖖🏻
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Invest long, borrow short and leverage up as much as possible. That is the way to make money in finance. It is how banks have always made their living. But we also know very well that this story can end in panic-stricken runs for the exit and financial crises. That is what happened in the great financial crisis (GFC) of 2007-09. Since then, as the Bank for International Settlements explains in its latest Annual Economic Report, the financial system has changed a great deal. But this central characteristic has not.
Moreover, notes Hyun Song Shin, economic adviser to the BIS, “despite the fragmentation of the real economy, the monetary and financial system is now more tightly connected than ever”. If this sounds like an accident waiting to happen, you are quite right. Central banks must be prepared to ride to the rescue.
The story the BIS tells is an intriguing one. Thus, the aftermath of the GFC did not make the system fundamentally different. It just changed who was involved. In the run-up to the crisis, the dominant form of lending was to the private sector, particularly in the form of mortgages. Afterwards, lending to the private sector levelled off, while credit to governments exploded. The pandemic accelerated that tendency.
That was not surprising: if people want to save and lend, someone else has to borrow and spend. That is macroeconomics 101. In addition to the change in direction came a change in intermediaries: in place of the big banks have come global portfolio managers. (See charts.)
As a result, cross-border bond holdings have increased enormously. What matters here are changes in gross, not net, holdings. The latter are relevant to long-term sustainability of macroeconomic patterns of saving and spending. The former are more relevant to financial stability, because they drive (and are driven by) changes in financial leverage, notably cross-border leverage. Moreover, notes Shin, “the largest increases in portfolio holdings have been between advanced economies, especially between the US and Europe”. The emerging economies are relatively less involved in this lending.
How then does this new cross-border financial system work? It has two fundamental characteristics: the leading roles of foreign currency swaps and non-bank financial intermediaries.
The biggest part of this cross-border lending consists of the purchase of dollar bonds, particularly US Treasuries. The foreign institutions buying these bonds, such as pension funds, insurance companies and hedge funds, end up with a dollar asset and a domestic currency liability. Currency hedging is essential. The banking sector plays a key role, by enabling the market for foreign exchange swaps, which provide these hedges. Moreover, a forex swap is a “collateralised borrowing operation”. Yet these do not appear on balance sheets.
According to the BIS, outstanding forex swaps (including forwards and currency swaps) reached $111tn at the end of 2024, with forex swaps and forwards accounting for some two-thirds of that amount. This is vastly more than cross-border bank claims ($40tn) and international bonds ($29tn). Moreover, the market’s largest and fastest-growing part consists of contracts with non-dealer institutions. Finally, some 90 per cent of forex swaps have the dollar on one side of the transaction and over three-quarters have a maturity of less than one year.
As the BIS notes, this highly non-transparent set of cross-border funding arrangements also affects the transmission of monetary policy. One of the propositions it makes is that the greater role of non-bank financial intermediaries, notably hedge funds “may have contributed to more correlated financial conditions across countries”. Some of this is quite subtle. Given the large-scale foreign ownership of US bonds, for example, conditions in the owners’ home markets can be transmitted to the US. Again, exchange rate movements that affect the dollar value of holdings of emerging market debts can trigger adjustments in their domestic prices.
What are the risks in this new system of finance? As has been noted, banks are active in the market for forex swaps. They also provide much of the repo financing for hedge funds speculating actively in the bond market. Moreover, according to the BIS, over 70 per cent of the bilateral repo financing from banks is at zero haircut. As a result, lenders have very little control over the leverage of the hedge funds active in these markets. Not least, non-US banks are active in providing dollar funding for firms engaged in these markets.
What does all this imply? Well, we now have tightly integrated financial systems, especially among high-income countries, even as the countries are moving apart, politically and in terms of their trade relations. Moreover, much of the funding is in dollars on relatively short maturities. It is easy to imagine conditions in which funding dries up, perhaps in response to large movements in bond yields or some other shock. As happened in the GFC and the pandemic, the Federal Reserve would have to step in as lender of last resort, both directly and via swap lines to other central banks, notably those in Europe. We assume that the Fed would indeed come to the rescue. But can that be taken for granted, especially after Jay Powell is replaced next year?
The system the BIS elucidates has much of the fragility of traditional banking, but even less transparency. We have a vast number of unregulated businesses taking highly leveraged positions, funded on a short-term basis, to invest in long-term assets whose market values may vary substantially even if their capital values are ultimately safe. This system demands an active lender of last resort and a willingness to sustain deep international co-operation in a crisis. It should work. But will it?
Researchers at Tohoku University have discovered that an oral drug called MA-5 can improve both heart and muscle problems in Barth syndrome, a rare genetic disorder affecting 1 in 300,000 births worldwide with no current cure.
Barth syndrome is caused by mutations in the TAZ gene that leave patients—mostly young boys—with weakened hearts, muscle fatigue, and increased rates of infection. Many require heart transplants, and current treatments only manage symptoms without addressing the underlying cause.
The research team, led by Professors Takaaki Abe, and Takafumi Toyohara, and first author Yoshiyasu Tongu, tested MA-5 on cells from four Barth syndrome patients and in fruit fly (Drosophila) models of the disease. Published in The FASEB Journal on June 21, 2025, their findings reveal that MA-5 boosted cellular energy (ATP) production by up to 50% and protected cells from oxidative stress-induced death.
What excites us most is that MA-5 works by targeting the fundamental problem in Barth syndrome—defective energy production in mitochondria. Unlike current treatments that only manage symptoms, MA-5 actually improves the root cause of how cells generate energy.”
Professor Takaaki Abe
MA-5 was chosen as a treatment because it enhances interactions between two crucial mitochondrial proteins—mitofilin and ATP synthase—leading to more efficient energy production. As such, this mechanism directly addresses the cause of cellular dysfunction in Barth syndrome.
In human muscle cells derived from Barth syndrome iPS cell models, MA-5 corrected abnormal mitochondrial structures and reduced cellular stress markers. When tested in Drosophila with Barth syndrome, the drug dramatically improved their climbing ability (capacity for physical exertion) and normalized their elevated heart rates—two key symptoms that mirror how the disease affects humans. Furthermore, MA-5 restored normal mitochondrial structure in the Drosophila muscle tissue.
These promising results suggest that MA-5 addresses the largest challenges faced by patients with Barth syndrome, which would significantly improve their quality of life. Phase I clinical trials in Japan have been completed successfully, and the research team is preparing to start Phase II trials soon.
“We’ve validated MA-5 using patient cells, iPS cell models and a Drosophila model of Barth syndrome,” remarks Abe. “The evidence from all of these studies supports its potential effectiveness in patients with Barth syndrome, which we hope to examine more in the next clinical trial.”
Considering the limited options for treatment currently available, this research provides hope for a better future for patients and their families. Critically, MA-5 can be taken orally, which makes administration significantly easier for pediatric patients. It is the first oral medication for Barth syndrome to progress to the clinical trial stage.
The team’s findings suggest that MA-5 could become the first disease-modifying treatment for Barth syndrome, offering new therapeutic options beyond current symptomatic management.
The research was supported by grants from JSPS KAKENHI, AMED, and other Japanese research foundations.
Gold prices climb as US fiscal concerns over Trump’s proposed tax bill support bullion gains.
Fed Chair Powell comments on monetary policy at the ECB Forum, maintaining a data-dependent stance.
XAU/USD trades near $3,350 after US ISM and JOTS data beat estimates, raising expectations for a September rate cut.
Gold prices are rallying on Tuesday as traders digest remarks from policymakers currently gathered at the European Central Bank (ECB) forum in Portugal.
Focus has been on comments from Federal Reserve Chairman Jerome Powell, who has been facing increasing pressure from US President Donald Trump to reduce interest rates in July.
Despite Fed Chair Powell’s hawkish comments and better-than-expected US economic data, which have helped limit US Dollar losses, XAU/USD continues to trade around $3,350 at the time of writing.
Fed Powell’s comments included, “As long as the US economy is in solid shape, we think that the prudent thing to do is to wait and learn more and see what those effects might be.”
So far, Powell has adhered to the cautious script, but investors are aware that this could shift quickly if the data dictates otherwise.
Additionally, Powell stated that “It’s going to depend on the data, and we are going meeting by meeting,” Powell said. “I wouldn’t take any meeting off the table or put it directly on the table. It’s going to depend on how the data evolve.”
These comments suggest that the Fed is not rushing to cut rates, increasing the potential for a September cut. With the US ISM Manufacturing and JOLTs data beating expectations, a resilient US data remains supportive of a more data-dependent Fed, limiting US Dollar losses.
Global policymakers gather at the ECB forum, a key event for Gold
The focus on Tuesday was on the European Central Bank (ECB) Forum on Central Banking, currently underway in Sintra, Portugal. This rare convergence of the world’s top central bankers offers a critical opportunity for markets to assess the direction of global monetary policy.
ECB President Christine Lagarde, Bank of Japan (BoJ) Governor Kazuo Ueda, Bank of England Governor Andrew Bailey, and Federal Reserve Chair Jerome Powell are currently speaking on monetary policy.
The joint appearance is more than symbolic. Previous Forums have triggered coordinated messaging or revealed stark divergences in policy outlooks that have moved major asset classes, including Gold, currencies, and bonds.
With central banks navigating a delicate balance between inflation control and slowing growth, any nuance in today’s remarks could set the tone for the third quarter.
The ISM Manufacturing PMI is expected to print at 48.8 for June. The June data came in above expectations at 49, rising from 48.5 in May.
Job Openings and Labor Turnover Survey (JOLTS), where economists had expected around 7.3 million open positions as of May 31. Instead, the latest report revealed that job vacancies rose by 7.769 million, reflecting a resilient US labour market.
President Donald Trump’s escalating criticism of Powell, including another sharply worded post on Truth Social on Monday, has raised concerns about the Fed’s independence.
Trump’s post read, “Jerome – You are, as usual, ‘too late.’ You have cost the USA a fortune – and continue to do so – you should lower the rate by a lot!”
The rhetoric has fueled speculation that Powell may either shift his tone or face replacement.
That prospect has pressured real yields lower and driven fresh demand for Gold as a hedge against policy uncertainty and US Dollar weakness.
President Trump issued a handwritten note with his signature to Fed Powell on Monday. The letter said that “Hundreds of billions of dollars are being lost! No inflation”.
Many now expect a shift toward looser monetary policy, which is putting downward pressure on real yields and making Gold more attractive.
At the same time, the Trump administration’s proposed “Big Beautiful Bill,” with its estimated $3.3 trillion impact on the deficit, is sparking fears over long-term fiscal health.
The bill has drawn fire from across the political spectrum, including from Elon Musk and several Democratic leaders, who warn it could lead to inflation and a weaker US Dollar. Such a backdrop often prompts investors to turn to Gold as a hedge against instability and currency depreciation. The Senate is currently pushing to have the bill approved by Friday.
With a July 9 tariff deadline fast approaching, the US is focusing on smaller, step-by-step trade deals rather than sweeping agreements, aiming to avoid triggering new tariffs.
While partial progress has been made with countries like the UK and China, talks with Japan and the European Union are still unsettled. The EU has shown openness to a blanket 10% tariff but is pushing for exceptions in sensitive sectors such as semiconductors and pharmaceuticals.
Meanwhile, President Trump has taken aim at Japan’s trade approach, especially on rice, warning that new tariffs may be imposed if no deal is reached in time.
Trump expressed his frustration on Monday following a dispute over Japan’s reluctance to import rice from the US, which resulted in the US President stating that Japan has been “spoiled with respect to the United States of America.”
All of this contributes to an environment where Gold looks relatively safe. Add to that the possibility of technical breakouts and increased buying interest, and it’s no surprise prices are pushing higher.
Gold technical analysis: XAU/USD bounces off trendline support, opening the potential for a retest of $3,400
After falling to trendline support from the January low on Monday, failure to gain traction below $3,250 allowed bulls to regain control of the imminent trend. With the 50-day Simple Moving Average (SMA) currently providing support for the yellow metal at $3,320, XAU/USD is now threatening a break of the 20-day SMA at $3,351. The 23.6% Fibonacci retracement of the April low-high move provides an additional barrier of resistance near $3,371.
The Relative Strength Index (RSI) is currently at 52, rising back above the neutral zone and pointing higher. This suggests a modest bullish bias. With the Gold price threatening the 20-day SMA, a clear break of $3,351 and a move above $3,371 could see prices retest the major psychological level of $3,400.
Gold (XAU/USD) daily chart
If bullish momentum fades and prices slip below $3,300, the 38.2% Fibo level could come into play at $3,292, with a deeper pullback driving Gold to the midpoint of the April move at $3,328.
