Iran Conflict:
- U.S. eyes punishing NATO countries over lack of Iran support — WSJ
- Iran says violations of 10-point proposal make bilateral ceasefire or
negotiations unreasonable
- Iran's Press TV: Strait of Hormuz has been fully closed, forcing oil tankers
to turn
- VP Vance to lead U.S. talks with Iran in Pakistan
- Vance: Iranians have to take next step or Trump has options to go back to war
- Israel to convene security cabinet on Iran ceasefire announced by Trump
- Trump: a country supplying military weapons to Iran will be immediately
tariffed
- The Trump administration is expected to scale back its Iran war funding
request to $80–100 billion, less than half the Pentagon’s initial $200 billion
proposal
Corporate & Technology:
- Meta releases first AI model since Zuckerberg’s spending spree — FT
- Alibaba has promoted Qwen Lab to Qwen Large Model business unit, and
established a tech committee, led by CEO Eddie Wu, according to insider note
- Alibaba, China Telecom launch AI chip-powered data center to advance
self-sufficiency
- Alibaba restructures organization, upgrading Tongyi Lab into a business unit
and appointing Li Feifei as Alibaba Cloud CTO
China Economy & Policy:
- China grants extra crude quotas to independent refiners to sustain fuel output
- China sets up new unit to oversee state-owned assets
- China’s yuan rose to a three-year high, with the onshore rate at 6.8287 per
dollar and the offshore rate at 6.8268
