Malaysia Economy & Industry: MITI says subsidy rationalisation can protect MSME margins and keep Malaysia competitive if rolled out gradually, targeted, and paired with support—pushing automation, EV infrastructure, green energy, and skills for a shift to higher-value industries. Philippines Finance: Globe shares jumped after Mynt filed for an IPO targeting an October debut that could raise up to P92.3 billion, potentially the biggest in Philippine history. Aviation & Trade: IATA reports global air cargo demand rose 6.0% in May; Asia-Pacific carriers saw demand up 8.0% y/y, while Middle East carriers contracted amid West Asia conflict impacts. Korea–East Timor Diplomacy: Foreign ministers agreed to expand cooperation on climate, infrastructure, education and human resources, plus maritime and law-enforcement work. Central Asia Energy: Masdar broke ground on a 1GW wind farm in Kazakhstan with battery storage, a US$1.4bn investment aimed at powering hundreds of thousands of homes. Central Asia Nuclear Training: Uzbekistan approved a regional atomic energy competence center in Tashkent to train specialists and boost nuclear safety cooperation. Regional Transport: APM Terminals Poti is buying a new mobile harbour crane to lift capacity and speed up cargo handling as trade grows. Markets: India’s Sensex and Nifty closed lower as West Asia tensions weighed on auto, IT and PSU banking stocks. Sports: India won its first-ever AVC men’s volleyball cup medal, taking bronze after beating Bahrain 3-1.