Republicans are advancing a sweeping legislative package that not only aims to extend $4.5 trillion in Trump-era tax cuts but also dismantles key domestic programs enacted under Presidents Obama and Biden. The 1,000-plus-page bill, championed by House Speaker Mike Johnson, includes controversial provisions targeting Medicaid and green energy tax breaks, stoking fierce political debate as it moves to the Senate.

Iran’s Supreme Leader Ayatollah Ali Khamenei has criticized a recent American proposal aimed at curbing Tehran’s nuclear programme, describing it as “100 per cent against the idea of ‘we can.’” While drawing a red line on uranium enrichment, he stopped short of rejecting negotiations with Washington altogether.

Speaking on Wednesday at the mausoleum of Ayatollah Ruhollah Khomeini, Khamenei reiterated Iran’s refusal to abandon uranium enrichment — a central issue in the stalled nuclear talks. “If we do not have enrichment, then we should extend our hand to the US,” he said, calling any such deal humiliating.

Despite the firm rhetoric, Khamenei avoided mentioning specific enrichment levels, nor did he close the door on diplomacy. Iran currently enriches uranium to 60% purity, edging close to weapons-grade. A potential deal could be vital to lifting crippling US sanctions and preventing further deterioration of Iran’s economy.

Foreign Minister Abbas Araghchi said Iran would soon respond to the US offer. Reports suggest Washington’s proposal includes allowing Iran to enrich uranium up to 3% under a multinational consortium, though full details remain unclear.

Khamenei’s carefully calibrated remarks appear aimed at managing pressures from both reformists eager for sanctions relief and hardliners, including the Revolutionary Guard, who oppose compromise.

The stakes are high. Failure to reach an agreement risks sparking new regional conflict, especially amid tensions over the Israel-Hamas war. It could also prompt Iran to end cooperation with the UN nuclear watchdog or accelerate toward weapons development.

“The impolite and insolent American leaders keep repeating this demand,” Khamenei said, before invoking a familiar slogan: “They can’t do a damn thing about this.”

Yet the fact that negotiations continue suggests both sides may still see a narrow path forward.

In a major political development, Bangladesh's Supreme Court has reinstated the registration of Jamaat-e-Islami and its student wing, Chhatra Shibir, allowing their return to electoral politics. This comes after the Muhammad Yunus-led government lifted the ban on the Islamist party last year, sparking intense debate over its implications for Bangladesh’s democratic and secular fabric.

Jamaat, which had supported Pakistan during the 1971 Liberation War, was barred from contesting elections in 2013 for its anti-constitutional activities. However, the party has remained politically active, now rebranding itself for a full comeback. Critics argue this resurgence is part of a strategic alliance with the Yunus administration, which they claim is using Jamaat's grassroots student movement to solidify its hold on power.

The Supreme Court recently overturned the war crimes conviction of senior Jamaat leader ATM Azharul Islam, further signalling a shift in the political landscape. Observers warn this could embolden Jamaat’s hardline ambitions and revive its historical revisionism, including attempts to downplay India’s role in Bangladesh’s independence.

Jamaat’s re-entry has regional ramifications. In a recent meeting with the Chinese Communist Party in Dhaka, the party proposed an independent Rohingya state—an idea that could destabilize the region and directly threaten India’s strategic investments, including the Kaladan Multi-Modal Transit Transport Project and Sittwe Port in Myanmar.

India is watching closely, as Jamaat's pro-Pakistan stance and broader Islamist agenda could undermine regional stability. The group’s growing influence among South Asian diasporas and calls for Islamic unity challenge Bangladesh’s pluralist ideals.

While Jamaat has never secured a majority, its kingmaker role persists. However, recent tensions with its former ally BNP, especially over the 2025 elections, indicate potential fractures within the opposition. The road ahead could reshape not just Bangladesh’s politics, but South Asia’s security calculus.

Despite hints from Donald Trump and Vladimir Putin about restoring U.S.-Russia trade after the war, a return of American businesses to Russia remains highly improbable.

Since Russia’s 2022 invasion of Ukraine, over 1,300 foreign companies have exited. Those who left were often forced to sell their assets for half their value or simply write them off. Russia’s 2023 decree allowing the government to seize stakes in major firms like Carlsberg and Danone further devastated investor confidence.

Putin's rhetoric has grown more hostile. On May 26, he urged Russia to "strangle" Western tech giants like Zoom and Microsoft. His threat, coupled with a track record of nationalizing foreign assets, signals that the business climate is unlikely to improve.

Even if sanctions were lifted and the U.S. was removed from Russia’s “unfriendly states” list, risks remain severe. Russia has restructured its legal framework to allow seizure of “important” foreign firms, restrict profit repatriation, and override shareholder rights.

Economically, Russia is heavily tilted toward military production, with little appeal for U.S. investors seeking long-term growth. “Only Belarus offers an equally lousy combination of growth and risk,” warns Bank of Finland economist Heli Simola.

Though some firms like Ford exited with repurchase options, experts say Russia’s unstable legal system could render such agreements unenforceable. Energy is one potential draw, but even giants like ExxonMobil suffered massive write-offs and expropriations, making re-entry risky and unattractive. 

While some U.S. firms still operate in Russia in a limited capacity, full-scale return is unlikely. As Bruegel's Elina Ribakova puts it: “There’s long-lasting damage.” Even if the U.S. lifts sanctions, ongoing EU restrictions would continue to complicate global compliance for American multinationals.

President Vladimir Putin has made it clear that Russia will not offer any special welcome to McDonald’s or other Western companies seeking to return after their exit amid sanctions over the Ukraine conflict. Addressing a Kremlin meeting with top Russian business leaders, Putin emphasized that companies like McDonald’s that abruptly pulled out in 2022 should not expect preferential treatment if they decide to re-enter the Russian market.

In a dramatic escalation of hostilities, Russia launched its most extensive drone assault on Ukraine since the beginning of the war over three years ago. Ukrainian officials reported that 355 drones and nine cruise missiles were fired in a single night, marking a significant intensification in the ongoing conflict.

Yuriy Ihnat, spokesperson for the Ukrainian Air Force, confirmed the figures on Monday, describing the barrage as unprecedented. While several civilians were reported injured, no fatalities have been confirmed from the latest strike. The attack follows another major aerial assault on Saturday, which left at least 12 people dead and dozens injured in Kyiv and other regions. Ukrainian authorities said that strike involved 69 missiles and 298 drones.

Former U.S. President Donald Trump responded strongly to the surge in violence, stating on social media, “Putin has gone absolutely CRAZY!” He criticized the Russian leader for “needlessly killing a lot of people” and warned that any attempt to conquer all of Ukraine could “lead to the downfall of Russia.”

Trump also expressed disappointment in Ukrainian President Volodymyr Zelenskyy, suggesting his rhetoric was not helping efforts to end the war. The remarks come amid ongoing but largely stalled diplomatic efforts by the U.S. and European allies to broker peace.

In a rare display of cooperation, Russia and Ukraine completed a large-scale prisoner exchange over the weekend. Each side released over 1,000 individuals across three consecutive days, culminating in the handover of 303 prisoners on Sunday. The exchange followed agreements made during direct talks held in Istanbul earlier this month.

Despite these humanitarian gestures, the conflict continues to escalate on the battlefield, with no clear path to a ceasefire in sight. Both sides remain entrenched, even as global leaders push for urgent de-escalation.

The International Monetary Fund (IMF) has added 11 stringent new conditions to Pakistan’s bailout programme, raising the total to 50, as part of the agreement for the next tranche of financial aid. These conditions, disclosed in the latest Staff Level report released Saturday, come amid rising geopolitical tensions with India, which the IMF warned could threaten the programme’s fiscal and reform objectives.

A key new requirement is the parliamentary approval of a Rs 17.6 trillion federal budget by June 2025. The IMF also demands that provinces enforce agricultural income tax laws through digital platforms and stricter compliance regimes by June 2024.

Amid surging defence spending — with Islamabad increasing its military budget to over Rs 2.5 trillion after recent cross-border hostilities — the IMF cautioned that the simmering conflict with India could impact Pakistan’s economic recovery. Notably, tensions spiked following India’s Operation Sindoor, a retaliatory strike against terror camps in Pakistan-occupied Kashmir on May 7, prompting limited Pakistani military responses until a ceasefire was reached on May 10.

New energy sector reforms include rebasing electricity tariffs by July 1, 2025, and implementing semi-annual gas price adjustments by February 2026. Pakistan must also remove the cap on debt service surcharge and make the captive power levy ordinance permanent to push industries toward the national grid.

The IMF further instructed the government to publish a post-2027 financial strategy, finalize a governance action plan, and phase out all tax incentives for Special Technology Zones by 2035.

In a pro-consumer move, the IMF directed Pakistan to lift import restrictions on used cars, allowing vehicles up to five years old to be imported by July, easing pressure on local supply and inflation.

These conditions reflect the IMF’s growing concern over Pakistan’s fragile economic and political environment.

Russian Foreign Minister Sergei Lavrov has accused the West of deliberately provoking tensions between India and China to serve its strategic interests in Asia. Speaking at the "Culture without Borders" diplomatic club, Lavrov said the rebranding of the Asia-Pacific into the "Indo-Pacific" by Western powers was part of a geopolitical strategy to marginalise China and fuel rivalry in the region.

“By using the term ‘Indo-Pacific’, the West is trying to forge a bloc with a clear anti-China agenda, hoping to pit our great friends and neighbours India and China against each other,” Lavrov said, as reported by state-run TASS.

Lavrov, once a vocal critic of the QUAD grouping — comprising India, the US, Japan, and Australia — has toned down his opposition since the formation of AUKUS, a military alliance between Australia, the UK, and the US.

He also criticised Western efforts to diminish the role of ASEAN, the 10-member Southeast Asian bloc that has long been central to regional diplomacy. According to Lavrov, Western countries are “pushing aside” ASEAN’s consensus-based approach and are luring member states into divisive arrangements like exclusive “troikas and quartets”.

ASEAN includes Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Brunei, Myanmar, Laos, and Cambodia, and is known for fostering political and security cooperation in Southeast Asia.

Lavrov further advocated for a continent-wide security framework in Eurasia. He noted that unlike Africa and Latin America — which have the African Union and CELAC, respectively — Eurasia lacks a unifying structure despite being home to numerous major civilisations.

“There is a need for a collective security system in Eurasia that harmonises the interests of great powers and civilisations,” he said, calling for a new dialogue-driven architecture in the region.