JERUSALEM: At least eight Palestinians, most of them children, were killed and more than a dozen others were wounded in central Gaza Sunday, officials said, in a missile strike which Israel said missed its intended target. The Israeli military said it had intended to hit an Islamic Jihad militant in the area but that a malfunction had caused the missile to fall “dozens of metres from the target”. “The IDF regrets any harm to uninvolved civilians,” it said, adding that the incident was under review. The strike hit a water distribution point in Nuseirat refugee camp, killing six children and injuring 17 others, said Ahmed Abu Saifan, an emergency physician at Al-Awda Hospital. Water shortage in Gaza has worsened sharply in recent weeks, with fuel shortages causing desalination and sanitation facilities to close, making people dependent on collection centres where they can fill up their plastic containers. In another attack, Palestinian media said a prominent hospital consultant was among 12 people killed by an Israeli strike mid-morning on a busy market in Gaza City. Gaza’s health ministry said on Sunday that more than 58,000 people had been killed since the start of the war in October 2023, with 139 people added to the toll over the past 24 hours. The ministry says over half of those killed are women and children. Talks aimed at securing a ceasefire appeared to be deadlocked, with the two sides divided over the extent of an eventual Israeli withdrawal from the Palestinian enclave, Palestinian and Israeli sources said at the weekend. The indirect talks over a US proposal for a 60-day ceasefire were continuing in Doha, but optimism that surfaced last week of a possible deal has largely faded, with both sides accusing each other of intransigence. REUTERS
A recent review by researchers at Philadelphia College of Osteopathic Medicine (PCOM) shows Chlamydia pneumoniae (Cpn) and SARS-CoV-2 infections may play a role in the pathogenesis of Alzheimer’s disease.
Published in Frontiers in Aging Neuroscience, the review highlights that both infections increase levels of substances in the brain called cytokines, especially IL-6 and CCL2, which cause inflammation. This ongoing inflammation can harm brain cells and may help speed up the buildup of harmful proteins linked to Alzheimer’s.
The review shows that Cpn and SARS-CoV-2 can invade the central nervous system through both the blood brain barrier and potentially more importantly the olfactory route, which is responsible for our sense of smell. The olfactory system is lined with a specialized neuroepithelium that can serve as an entry point for pathogens to the brain. After initial infection, these microbes can travel along the olfactory nerves, ultimately reaching the brain’s olfactory bulbs, which are linked to areas of the brain for memory and cognition. This pathway is particularly relevant given that loss of smell is an early symptom in both COVID-19 and Alzheimer’s disease.
The research examined peer-reviewed studies on the associations of Cpn and SARS-CoV-2 with Alzheimer’s, coupled with a special consideration for genetic risk factors such as APOEε4, biomarkers (IL-6, CCL2, NRP1), and the structural and functional aspects of infection and neuroinflammation. PCOM researchers documented that individuals carrying this gene variant appear to be more susceptible to both Cpn and SARS-CoV-2 infections, potentially amplifying their risk for developing the disease.
“These findings bring us one step closer to understanding the complex interactions between infections and Alzheimer’s disease,” said PCOM’s Brian J. Balin, PhD, a professor of Neuroscience and Neuropathology and director of the Center for Chronic Disorders of Aging (CCDA), who co-authored the report. “As we continue to learn more about the role infectious agents play in the development of this disease, we hope to create new avenues for prevention and treatment.”
Balin and his team have dedicated over two decades working under the hypothesis that infectious agents could be a trigger for the process that causes the accumulation of amyloid and tau build-up, which are key indicators of Alzheimer’s disease. Most recently, he helped establish PCOM’s Pathobiome Research Center to further examine the connections between infectious processes and other chronic disorders in addition to Alzheimer’s disease.
Source:
Philadelphia College of Osteopathic Medicine (PCOM)
Journal reference:
Romanella, A., et al. (2025). Infections with Chlamydia pneumoniae and SARS-CoV-2 and Alzheimer’s disease pathogenesis. Frontiers in Aging Neuroscience. doi.org/10.3389/fnagi.2025.1587782.
Kanye “Ye” West’s return to live performance is off to a rocky start. The errant rapper, producer and mogul’s concert in Shanghai, China on Friday night was beset by technical problems, terrible weather and thousands of people chanting for a refund after he began the show over 40 minutes late.
Ye, who rarely plays live these days due to an ongoing struggle to find willing concert partners not turned off by his many swirling controversies, returned to China last week after conducting a lucrative and highly viral listening party at the Wuyuanhe Stadium in Haikou, Hainan Province in September 2024. His hotly anticipated gig at Shanghai Stadium, planned in support of his forthcoming album Bully, was sold out within minutes, according to local reports, suggesting that the rapper’s various racism and social media controversies have not dimmed the enthusiasm of his Chinese fans.
The Global Times, a state-backed Chinese news outlet known for its nationalistic stance, reports that Ye’s gig was promoted as “an immersive, multisensory experience, promising innovative stage design, upgraded setlists, and international production teams.” The paper added that “promotional materials highlighted the show as a ‘comprehensive, genre-defying journey through Ye’s musical career, combining sound, light, visuals, and installations.’”
From the outset, the mood was challenged in Shanghai Stadium Friday night by heavy rain, which poured down upon the stage and the crowd through the arena’s open roof. The crowd grew increasingly restless at some point past the gig’s scheduled 7:30pm start time, with thousands eventually chanting for refunds. Ye finally arrived at around 8:10pm, walking out onto the stadium’s vast gray stage solo, wearing black leather pants and a gray hoodie with “China” written across the back. Fog, projections and spotlights set an austere mood reminiscent of some of his Donda stage design, but with even fewer visual elements. Occasionally, an enormous projection of Ye was beamed across the stage, while overhead screens featured additional reworked footage.
According to the Global Times, tickets to the gig were pricey by Chinese standards, ranging from 980 yuan (about $135) to 2,680 yuan ($375).
Videos circulating online in China show moments of Ye seemingly giving the performance his all despite the tough circumstances, throwing his body around to the beat and waving his arms wildly as he raps along to his hits. At other moments, he looks utterly defeated, such as when his most recent single, Losing Your Mind, booms through the stadium’s sound system, and he stops signing altogether and slowly walks off the stage. Local reports suggest the sound quality throughout the show was inconsistent at best.
Even while the concert was still underway, Ye became a trending topic on Chinese social media, sparking intense debate among fans. Some defended the rapper and blamed the setbacks on the weather, while others argued it was all a lazy display — or even a cynical ploy to cash in on China at a time when the rapper’s brand remains diminished throughout the West.
In a career marked out by an uncanny ability to stay in the news, Ye has upped the ante in 2025, seemingly leaning into his pariah status in the entertainment industry, and pop culture generally, with a series of hugely controversial music releases and public stunts. In March, the rapper released a track that credited vocals to Sean “Diddy” Combs, who was about to begin a federal sex trafficking trial. On June 13, Ye, who has been an outspoken defender of Combs, would also appear briefly at Combs’ trial and later that month he released Never Stop, an EP by Combs’ son Christian “King” Combs.
On the music side, in March, Ye revealed he would release an album titled WW3, which was subsequently changed to Cuck and later A Perfect World. The first single off his upcoming 13th studio album, was the single “WW3” with a cover image featuring a Ku Klux Klan hood. The second single “Cousins” was also controversial as its music video feature KKK iconography and a swastika. And finally, the third single was titled “Heil Hitler.”
LONDON — Jannik Sinner defeated two-time defending champion Carlos Alcaraz 4-6, 6-4, 6-4, 6-4 on Sunday to win his first Wimbledon championship and reverse the result of their epic French Open final five weeks ago.
The No. 1-ranked Sinner earned his fourth Grand Slam title overall, moving him one away from No. 2 Alcaraz’s total as the two young rivals separate themselves from the rest of the pack in men’s tennis.
This victory also allowed Sinner, a 23-year-old Italian, to put an end to several streaks for Alcaraz, a 22-year-old Spaniard.
Alcaraz had won the past five head-to-head matches between the pair, most recently across five sets and nearly 5 1/2 hours at Roland-Garros on June 8. Sinner took a two-set lead in that one, then held a trio of match points, but couldn’t close the deal. That made Alcaraz 5-0 in major finals.
In addition to ending that piece of perfection, Sinner asserted himself in a match that featured moments of terrific play by both men, but also the occasional lapses.
Alcaraz stepped into the sunlight bathing Centre Court as the owner of a career-best 24-match unbeaten run. He had won 20 matches in a row at the All England Club, including victories against Novak Djokovic in the 2023 and 2024 finals.
The last man to beat Alcaraz at Wimbledon? Sinner, in the fourth round in 2022.
So this served as a bookend win for Sinner, who proved what he kept telling anyone who asked: No, there would be no carryover from his heartbreak in Paris. Hard to imagine, though, that that collapse wasn’t on his mind at least a little on Sunday, especially when he faced two break points while serving at 4-3, 15-40 in the fourth set.
But he calmly took the next four points to hold there, and soon was serving out the win. When it ended, Sinner put both hands on his white hat. After embracing Alcaraz at the net, Sinner crouched on court with his head bowed, then pounded his right palm on the grass.
Yes, Sinner put the French Open behind him in the best way possible and demonstrated that his matchups with Alcaraz could delight tennis fans for years to come.
They have divvied up the past seven Grand Slam trophies, and nine of the last 12.
Fittingly, this marked the first time the same two men faced off in the title matches on the clay at Roland-Garros and the grass at the All England Club in the same year since Roger Federer and Rafael Nadal did it in 2006, 2007 and 2008. It hadn’t happened for more than a half-century before that trilogy.
Sinner has participated in each of the last four major finals, a stretch that began with a triumph at the U.S. Open last September and was followed by another at the Australian Open this January.
Wearing the same tape job and white arm sleeve to protect his right elbow that he has been using since falling in the opening game of his fourth-round win on Monday, Sinner never showed any issues, just as he had not while eliminating 24-time major champion Novak Djokovic in the semifinals.
As the Middle East markets experience a resurgence, driven by rising oil prices and positive economic indicators, UAE stocks have seen notable gains with Dubai’s main market hitting a fresh 17-year peak. In this dynamic environment, identifying promising stocks involves looking for those that can capitalize on regional growth trends and sector-specific opportunities.
Name
Debt To Equity
Revenue Growth
Earnings Growth
Health Rating
Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi
40.12%
43.54%
38.87%
★★★★★★
Vakif Gayrimenkul Yatirim Ortakligi
0.00%
50.97%
56.63%
★★★★★★
Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi
0.53%
7.56%
49.01%
★★★★★☆
MIA Teknoloji Anonim Sirketi
17.80%
49.41%
66.89%
★★★★★☆
Gür-Sel Turizm Tasimacilik ve Servis Ticaret
6.88%
51.77%
67.59%
★★★★★☆
Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi
2.02%
-10.23%
74.54%
★★★★☆☆
National Corporation for Tourism and Hotels
19.25%
0.67%
4.89%
★★★★☆☆
Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi
12.49%
-23.32%
41.51%
★★★★☆☆
Izmir Firça Sanayi ve Ticaret Anonim Sirketi
43.01%
40.80%
-34.83%
★★★★☆☆
Dogan Burda Dergi Yayincilik Ve Pazarlama
64.82%
46.23%
-12.39%
★★★★☆☆
Click here to see the full list of 224 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Simply Wall St Value Rating: ★★★★★★
Overview: Sun Tekstil Sanayi ve Ticaret A.S. is engaged in designing, producing, and selling knit fabrics and ready-made womenswear garments both in Turkey and internationally, with a market cap of TRY19.37 billion.
Operations: Sun Tekstil generates revenue primarily from ready-made womenswear garments (TRY8.26 billion) and fabric production (TRY3.01 billion). The company has experienced eliminations amounting to TRY87.05 million in its financial reporting.
Sun Tekstil Sanayi ve Ticaret, a promising player in the Middle East textile sector, showcases impressive growth with earnings surging 142.1% over the past year, outpacing the industry average. The company’s debt to equity ratio has significantly improved from 115.3% to a satisfactory 26.6% over five years, reflecting strong financial management. Despite volatile share prices recently, Sun Tekstil’s net income for Q1 2025 stood at TRY 14.81 million compared to a loss last year of TRY 62.53 million, highlighting robust recovery efforts and potential for future stability amidst industry challenges.
IBSE:SUNTK Debt to Equity as at Jul 2025
Simply Wall St Value Rating: ★★★★★★
Overview: Computer Direct Group Ltd. operates in the computing and software sector in Israel, with a market capitalization of ₪1.60 billion.
Operations: Computer Direct Group generates revenue primarily from Technological Solutions and Services, Management Consulting and Value-Added Services (₪2.57 billion), followed by Infrastructure and Computing (₪1.28 billion), and Outsourcing of Business Processes and Technology Support Centers (₪326.89 million).
Computer Direct Group, a smaller player in the IT sector, showcases robust financial health with high-quality earnings and a significant reduction in its debt to equity ratio from 83.9% to 21.8% over five years. Its recent earnings report highlights sales of ILS 1.13 billion and net income of ILS 22.17 million for Q1 2025, reflecting steady growth compared to last year’s figures. The company has more cash than total debt, ensuring stability, while its interest payments are well-covered by EBIT at a ratio of 25.6x, indicating strong operational efficiency despite not outpacing industry growth rates recently at 22.9%.
TASE:CMDR Debt to Equity as at Jul 2025
Simply Wall St Value Rating: ★★★★☆☆
Overview: Malam – Team Ltd is an Israeli company specializing in information technology services, with a market capitalization of ₪2.39 billion.
Operations: Malam – Team Ltd generates revenue primarily from three segments: Hardware and Cloud Infrastructure at ₪2.07 billion, Software, Projects, and Business Solutions at ₪1.44 billion, and Salary Service, Human Resources, and Long-Term Savings at ₪327.87 million. The company incurs consolidation adjustments of -₪44.81 million affecting its overall financials.
Malam – Team, a nimble player in the IT sector, has seen its earnings surge by 48.9% over the past year, outpacing the industry average of 25.1%. Recent first-quarter results show sales hitting ILS 1 billion and net income reaching ILS 30 million, both reflecting solid improvements from last year. However, with a debt-to-equity ratio climbing to 89.7% over five years and a net debt to equity ratio at 44.9%, concerns about leverage arise despite interest payments being well-covered by EBIT at a multiple of 4.1x. The company trades slightly below its estimated fair value by around 0.6%.
TASE:MLTM Debt to Equity as at Jul 2025
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include IBSE:SUNTK TASE:CMDR and TASE:MLTM.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
8BitDo has partnered with Xbox on a new edition of its Ultimate Mobile Bluetooth Controller. Unlike the original model that 8BitDo debuted last holiday season, the Xbox-licensed model supports iPhone. We’ll be testing the revised model in the coming weeks and will update this article with our impressions, but it has the same features as the Android-only original–and that controller is great.
Like all 8BitDo controllers, the Ultimate Mobile Bluetooth carries a budget-friendly price: $50. But even from a manufacturer known for offering customizable pro-style controllers with high-end performance at low prices, the $50 price is a bit surprising. 8BitDo’s other collaborations with Xbox–Series X|S controllers, arcade sticks, a keyboard and matching mouse–generally cost a bit more than comparable versions without the Xbox license. But the $50 price here matches the cost of the Android version, and the new one supports iPhone and Android. It swaps the normal 8BitDo home button for an Xbox button, which can be used to pull up the Xbox Cloud Gaming guide menu.
$50 | Officially licensed by Xbox
The 8BitDo Ultimate Mobile Bluetooth Controller is ready to ship now at Amazon with Prime delivery. It’s available in two colors, black or white. Both models have black sticks, face buttons with the standard Xbox color scheme, and the retro-style D-pad found on most 8BitDo controller. It has tactile handles that are contoured to look and feel quite similar to a console/PC controller.
The Ultimate’s numerous premium components and features make it a serious competitor to mobile controllers that retail for double the price (or more). It has two remappable back buttons that will feel familiar to those who have used one of 8BitDo’s Ultimate Controllers for PC or Nintendo Switch.
The full-sized thumbsticks utilize Hall Effect sensors, which offer a smoother feel and are generally more durable than conventional analog sticks because you don’t have to worry about stick drift. The right and left triggers are activated via Hall Effect sensors as well. With 8BitDo’s Ultimate Software V2, you can remap inputs, adjust stick and trigger sensitivity, and create up to three custom profiles.
The stretchable bridge is large enough to fit all iPhone models and most Android phones. As long as your device is within the range of 100-170mm (3.93-6.69in) in length, you’re good to go. For reference, the iPhone 16 Pro Max, Apple’s largest edition so far, is 6.42 inches.
The phone cradle offers a secure fit thanks to a few design features. It has a rubberized back and tabs on each side to grip your phone while also preventing scratches. The back sheet of rubber is dotted with a series of button symbols that create a textured feel. Additionally, the bottom corners jut out slightly from the handles for extra support.
Since it connects wirelessly to your device via Bluetooth, you can also use it with Android tablets, iPad, Mac, Apple TV, and even the Apple Vision Pro. 8BitDo says the 300mAh battery offers up to 13 hours on a full charge (1.5 hours to recharge).
$50 | Officially licensed by Xbox
Here’s a quick rundown of the specs, which are virtually identical to its predecessor. But like all Xbox-licensed 8BitDo controllers, this one doesn’t have a turbo button.
8BitDo Ultimate Mobile Bluetooth Controller for iOS and Android
Gallery
8BitDo Ultimate Mobile Controller with USB-C
Earlier this year, 8BitDo released a mobile controller that plugs into your smartphone via USB-C, but it has flown a bit under the radar. Made in collaboration with XR glasses manufacturer Viture, the translucent black 8BitDo Mobile Controller with USB-C is only compatible with Android and costs $79. An iPhone version of the Viture x 8BitDo Ultimate is in the works and is expected to release this year. You don’t need Viture XR Glasses to use the USB-C version, but we’d recommend checking out the XR glasses regardless because the wearable display tech is immensely impressive.
8BitDo Ultimate Mobile Controller vs. the competition for iPhone
The Ultimate Mobile Bluetooth Controller is half the regular price of the popular Backbone One. Regular is in italics because Amazon has the Backbone One 2nd Gen for $70 (was $100) and the 1st Gen models for $60 right now. From a build perspective, I preferred the original 8BitDo Mobile Controller for Android over the Backbone One. That said, Backbone’s app is also a pretty awesome console-like launcher, whereas 8BitDo’s Ultimate Software is just for control configuration. The Backbone connects to your phone’s USB-C or Lightning port, which is typically better than Bluetooth in terms of input response times–though many people won’t notice the difference. The Backbone One doesn’t have back buttons or full-sized sticks; for those features, you have to make the jump to the recently released Backbone Pro. It’s an excellent controller–you can read our review here–but it’s also pricey at $170.
Razer also makes popular USB-C mobile controllers for iOS and Android. Just last month, the popular manufacturer released the Kishi V3 series with three different models starting at $100. Only the $100 Kishi V3 base model is comparable to the 8BitDo Ultimate or Backbone, but it’s a rather impressive option thanks to TMR electromagnetic sticks, remappable back buttons, and a premium build. The $150 Kishi V3 Pro also works on iPhone and Android phones as well as 8-inch tablets. It has extra features such as remappable claw bumpers and Razer’s mecha-tactile, mouse-like button. The $200 Kishi V3 Pro XL, for reference, is only for 11- to 13-inch tablets, including the iPad Pro.
8BitDo’s Mobile Controller isn’t cheaper than all of its competitors. GameSir, a controller manufacturer that’s on the rise, has a range of mobile controller options for iOS and Android with varying form factors, connection types, and price points. The GameSir X5 Lite, for instance, launched in April with a $35 price point. It connects to iPhone 15/16 and small tablets like the iPad Mini via USB-C. This model doesn’t have back buttons, but it does have Hall Effect sticks. GameSir also has its own app called GameHub with a launcher UI similar to Backbone. GameSir has several other compelling mobile controller options, including the G8 Plus Galileo, an $80 Bluetooth controller that supports iOS, Android, and Nintendo consoles. The G8 Plus even works with Switch 2. Walmart is selling the G8 Plus for $50 right now, but this deal is likely to disappear tonight (July 13).
More Xbox-licensed 8BitDo Gaming Gear
8BitDo Retro 87 Wireless Mechanical Keyboard for PC, Mac, and Mobile
The new Ultimate Mobile Controller is just the latest of many collaborations between Xbox and 8BitDo. Earlier this year, 8BitDo released a mechanical gaming keyboard and mouse inspired by the transparent green original Xbox console. To be clear, neither accessory works on Xbox consoles, but both can be used on PC and mobile devices. The keyboard/mouse were followed up by a matching transparent green Ultimate 3-Mode Controller. This is 8BitDo’s high-end Xbox controller, but like every other conventional 8BitDo Xbox controller, it only works with a wired connection on Xbox. You can use it wirelessly on PC (2.4GHz) and Android (Bluetooth).
Later this month, 8BitDo is releasing an all-button arcade controller. Two editions are available to preorder at Amazon, including a $100 edition that’s licensed by Xbox. Like the original 8BitDo Arcade Stick for Xbox, the leverless arcade controller supports 2.4GHz Wireless on Xbox. The only other wireless controllers for Xbox made by 8BitDo are the Lite SE accessibility controller and the media remotes.
8BitDo manufactures several other wired Xbox controllers, including the Pro 2, which has a PlayStation-style stick layout, the Sega Genesis-inspired M30, and the budget-friendly Ultimate C and Mini Controllers.
A few years ago, 8BitDo released an Xbox edition of its popular SN30 Pro Controller. Though the Xbox version looks cool, it’s only compatible with Android and Apple devices, whereas the unlicensed model works on Switch and PC and has been updated with Hall Effect sticks.
Trade tensions weigh on Wall Street despite modest losses
United States (US) equity markets closed lower last week as trade tensions resurfaced on Monday and intensified throughout the week.
For the week:
These modest declines likely reflect the widely held view that tariff threats are primarily a negotiation tactic designed to pressure trading partners into finalising trade agreements.
Global tariffs escalate as US targets major trade partners
To recap, last week began with ‘tariffs in letters’ sent to mostly minor trading partners (apart from Japan and South Korea), before tensions escalated with a sharp increase in Brazil’s tariff rate, threats of baseline tariffs of 15% – 20%, and the announcement of a 35% tariff on Canada.
After markets closed on Friday, President Trump announced a 30% tariff on imports from Mexico and the European Union (EU), effective 1 August. It is worth noting that, together, Canada, Mexico and the EU account for roughly 45% of all imports into the US.
In the unlikely event that there is no reduction in the tariffs announced last week, the average tariff rate is expected to rise to nearly 25%, up from the current rate of around 14%. This would have serious implications for growth, inflation, and consumer and business confidence. However, this impact will not fully materialise in economic data until September and October, with the relevant releases due in October and November.
Earnings, Fed speakers and inflation data in focus this week
Looking ahead, aside from monitoring tariff headlines, this week’s focus will be on earnings reports from major banks including JP Morgan Chase, Goldman Sachs and Bank of America, as well as Netflix and 3M. The consensus expects US 500 earnings per share (EPS) growth of 4.8% – 5.2% in the second quarter (Q2), which is well below the 12% year-on-year (YoY) growth seen in the first quarter (Q1), and a benchmark that corporate America should clear with ease.
Elsewhere, speakers from the Federal Reserve (Fed) – including Bowman, Barr, Barkin, Collins, Logan, Hammack, Williams, Kugler, Cook and Waller – are scheduled to speak ahead of the blackout period before the Fed’s July meeting. There will also be strong interest in Tuesday’s consumer price index (CPI) report for June, previewed below.
CPI
Date: Tuesday, 15 July at 10.30pm AEST
In May, the headline inflation rate rose 0.1% month-on-month (MoM), which saw the annual rate of headline inflation increase for the first time in four months to 2.4%, up from 2.3%. Core inflation also rose 0.1% MoM, with the annual rate holding steady at 2.8% year on year (YoY) for a third consecutive month. This was below forecasts, which had predicted a rise to 2.9%.
The minutes from the June meeting of the Federal Open Market Committee (FOMC) were released last week. The minutes reaffirmed the belief that interest rates are ‘well positioned to wait for more clarity’. Participants noted that increased tariffs would likely place upward pressure on prices, with ‘a few’ indicating tariffs would cause a one-off price increase, but ‘most’ highlighting the risk of more persistent inflationary effects. ‘Most’ participants felt a rate cut this year would be appropriate, with ‘a couple’ open to cuts as early as the next meeting. However, ‘some’ participants saw no cuts this year, citing ‘meaningful’ upside risks to inflation.
For June, the preliminary expectation is for headline inflation to rise 0.3% MoM, with the annual rate increasing to 2.7%. Core inflation is also expected to rise 0.3% MoM, which would lift the annual rate to 3% – the highest since February. This rise is largely expected to reflect the effects of tariffs and is not anticipated to trigger a period of sustained volatility.
The US interest rate futures market is currently pricing in 18 basis points (bp) of Fed rate cuts for the September FOMC meeting, with a cumulative 52 bp of cuts priced in between now and the end of the year.
Pakistani commerce minister embarks on ‘pivotal’ UK visit to deepen economic ties
ISLAMABAD: Pakistani Commerce Minister Jam Kamal Khan has embarked on a “pivotal” official visit to the United Kingdom (UK) from July 14 till July 20 to strengthen economic ties between the two countries, Khan’s ministry said on Sunday.
The minister is accompanied by Commerce Secretary Jawad Paul and this high-level visit aims to deepen bilateral commercial ties, strengthen institutional frameworks, and open new avenues for trade and investment between Pakistan and the UK.
Khan will engage with major Chambers of Commerce in London and Birmingham to advance bilateral trade and explore opportunities in emerging sectors, besides highlighting Pakistan’s export potential and fostering greater business-to-business collaboration.
“One of the central moments of the visit will be the signing of the Terms of Reference (ToRs) for the Pakistan-UK Trade Dialogue,” the commerce ministry said.
“This formalization marks a significant step toward institutionalizing bilateral trade cooperation, injecting greater standardization, transparency, and predictability into the economic relationship between the two countries.”
The UK maintains zero-tariff access of Pakistan’s exports post-Brexit, making it Pakistan’s largest European and third-largest individual export partner, according to the Pakistani foreign ministry.
The Pakistan-UK trade in goods and services reached £4.7 billion in 2024, an increase of 7.3 percent, or £320 million, compared to the previous year, according to the UK government data. Of this £4.7 billion, UK exports to Pakistan amounted to £2.2 billion, while its imports from Pakistan amounted to £2.5 billion.
During his visit, the Pakistani commerce minister is scheduled to meet with members of the UK’s All Parties Parliamentary Group (APPG), where he will advocate for stronger political support in enhancing trade and investment flows, according to the commerce ministry.
These discussions will aim to align parliamentary efforts with Pakistan’s broader economic diplomacy goals and strengthen long-term partnerships.
“Khan will interact with leading UK-based multi-million-dollar companies from key sectors such as food processing, information technology, engineering, fintech, and capital investment. These meetings aim to showcase Pakistan’s economic potential and attract targeted investments into high-growth industries,” the commerce ministry said.
“The visit also includes important meetings with the UK Pakistan Business Council, Pakistan Britain Business Council, and UK Pakistan Chamber of Commerce & Industry. These discussions will focus on strengthening institutional trade linkages and leveraging diaspora-led initiatives to boost trade volumes and visibility in the UK market.”
Pakistan is currently striving to draw overseas investment amid a gradually healing macroeconomic environment after a prolonged downturn that forced Islamabad to seek external financing from friendly nations and multiple loan programs from the International Monetary Fund (IMF).
Khan’s visit follows another trip to the UK in June by Pakistan’s Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif’s aide on privatization, Muhammad Ali, who held meetings with executives from renowned firms, including TTB Partners, STJ Partners, Deutsche Bank, Berenberg Bank, and Amundi Fund Group, to spotlight Pakistan’s privatization roadmap and its growing potential as a hub for strategic, long-term investment.
The Pakistani commerce ministry said Khan’s visit marks a “renewed thrust in Pakistan’s efforts to advance economic diplomacy, diversify export markets, and solidify its commercial footprint in global markets like the United Kingdom.”
Baker McKenzie has advised Jasmine International Public Company Limited (JAS) in securing the exclusive English Premier League (EPL) and The Emirates FA Cup football broadcasting and streaming rights in Thailand, Laos, and Cambodia for six seasons, with a total consideration of THB 19.17 billion (approximately USD 549 million).
The Premier League and The Emirates FA Cup content will be distributed through the TV channel Mono29 and the streaming platform Monomax, operated by its sister companies under Mono Group. JAS also plans to explore partnerships with other platforms such as 3BB GIGATV and AIS Play, while retaining exclusive distribution rights under the current agreement.
The cross-border, multidisciplinary deal team was led by Partners Naris Asavathongkul and Nitikan Ramanat from Bangkok and Partner Steve Holmes, co-head of the EMEA IP, technology, and data teams, from London. The team includes:
Bangkok Corporate and Commercial team: Partner Naris Asavathongkul and Associates Kantaphon Lotangchanintra, Pimboon Stitmannaithum, and Piyachai Wijitvongtong;
Bangkok Tax team: Partners Panya Sittisakonsin and Nitikan Ramanat, and Associates Nattadej Hemyakorn and Tanyatorn Rojmahamongkol;
Bangkok IP Tech team: Partner Pattaraphan Paiboon and Associates Chanaporn Anurukwongkul and Teetouch Dilokgomon; and
London team: Partner Steve Holmes and Associate Amber Parslow.
Baker McKenzie’s London team spearheaded the negotiation of a series of agreements between JAS and the Premier League, expertly guiding the client through the process, while the Bangkok team assisted the client in the structuring of the broadcasting and streaming arrangements in Thailand, as JAS does not own distribution channels (both TV and OTT services).
The transaction adds to the Firm’s growing track record of entertainment deals which more recently includes Asmodee’s spin-off from Embracer Group and the divestment of RS Group’s music catalog assets to Universal Music Group.
