Trade & Industry Policy: Malaysia’s MITI says subsidy rationalisation can protect MSME margins and competitiveness if done gradually, targeted, and paired with support—pushing automation for MSMEs, EV infrastructure, green energy, and skills for higher-value industries. Air Cargo: IATA reports global air cargo demand rose 6% in May (capacity +1.9%), with Asia-Pacific up 8% in demand, while Middle East carriers saw a 8.9% contraction tied to war-related impacts. AI Governance: A Southeast Asia-wide push is underway to regulate AI, but ASEAN guidance remains non-binding, leaving enforcement uneven across countries. Cybersecurity for SMEs: Kaspersky and Digital Penang team up to boost cybersecurity readiness for Penang’s MSMEs under the state’s digital economy plan. Diplomacy: South Korea and East Timor agree to expand cooperation on climate, infrastructure, education and law enforcement. Regional Politics: Iran warns Bahrain amid West Asia tensions as US-Iran talks continue. Capital Markets: Philippines’ Globe shares jump on Mynt’s planned October IPO filing, while Asia United Bank approves a capital stock increase and dividends. Sports: ICC confirms LA28 cricket qualification pathway for men and women.