NATO Secretary-General RUTTE said the Ankara summit will focus on converting additional spending into operational capability.

Al Arabiya sources say indirect talks in Doha are ongoing. Iran is demanding release of $3 billion for each step of progress. Parties are discussing an Oman proposal on the Strait of Hormuz; delegations will return to their capitals to consult on the proposal.

RatingDog said June manufacturing PMI was 51.7. Production and demand remained expansionary; output continued to rise but at a slower pace than in May. Total new orders stayed in expansion with marginally faster growth, while new export orders fell further versus May and remained in contraction. Easing input-cost pressure has modestly improved corporate margins, but external demand weakness and a decline in firms’ forward expectations were evident. Monitor the trajectory of external demand recovery and the durability of raw-material cost relief.