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The recommendation was made last week in response to queries raised by government departments represented on the Public Private Partnership Appraisal Committee

CBS News

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Trump signs $70 billion immigration bill, capping lengthy fight over ICE funding

President Trump signed a bill funding immigration enforcement agencies through the end of his term, bringing an end to a monthslong feud that exposed deep divisions on Capitol Hill.

France 24 (English)

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Japan city relieved as bear caught after roaming streets for days

A bear that roamed the streets of a Japanese city for four days, forcing mass school closures, was caught on Tuesday, capping a search involving dozens of hunters and police. Terrified families in the city of Utsunomiya, north of Tokyo, peered through windows as a search mission that included helicopters tried to track down the animal following multiple sightings, including in a shopping arcade, at a university and at a wholesale market.

Bear captured in Japan after multi-day search as attacks rise

A bear that roamed the streets of a Japanese city for four days, forcing mass school closures, was caught on June 9, capping a search involving dozens of hunters and police. Bear attacks have been on the rise in Japan. Last week, a bear attack in the northeastern city of Fukushima left at least four people injured, and authorities failed at capturing it.

New York Post

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‘RHOA’ recap: K. Michelle storms off after Drew Sidora argument, VRT unpacks episode 10

“Virtual Reali-Tea” co-hosts Danny Murphy and Evan Real are recapping season 17, episode 10 of “The Real Housewives of Atlanta.” Cynthia Bailey invites a few of the ladies to Lake Bailey to get to the bottom of K.Michelle’s beef with Drew Sidora. Angela Oakley recaps her argument with Shamea Morton and accuses her of driving...

China is helping to cushion global oil prices below $100 — but analysts warn it won’t last

China has reduced oil imports since the start of the Iran war, capping global crude prices.

The Economic Times (India)

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India ₹ defense lifts forex tool past $110B

The Reserve Bank of India’s use of a key tool for defending the rupee has passed the $110 billion mark in recent weeks to a new record, according to people familiar with the developments.The RBI’s net-short dollar book, a measure of the degree it has sold forward its stockpile of the US currency, has risen to about $110 billion-$115 billion across onshore and offshore markets, said the people who asked not to be identified as the information is private. The book was at $95.3 billion in April, down from a record high of $103.1 billion the previous month.The central bank ramped up its interventions after the rupee weakened to a record low on May 20, almost hitting the 97 per dollar mark, the people said, adding that a large part of the central bank’s activity was in the offshore non-deliverable forwards market.Also Read: RBI's reform package could pull $40-75b inflows, push rupee to 92-93 and keep August rate on hold The RBI’s use of NDFs, which have grown over the past couple of years, allows the central bank to influence the exchange rate without immediately depleting foreign-exchange reserves. Such interventions can signal policy intent and help steady the currency during periods of volatility.A spokesperson for the RBI didn’t respond to an email seeking comment.131583707The rupee has borne the brunt of the oil-price shock caused by the Iran war, as India depends heavily on imports to meet its energy needs. The currency has repeatedly fallen to record lows this year as refiners sold rupees for dollars to pay for costlier crude. Still, the currency may now find support from coordinated measures rolled out by the government and the RBI on Friday to attract capital flows.Also Read: Reeling rupee drags students abroad deeper into debt at homeIn recent weeks, the central bank has sold offshore dollars largely via short-dated contracts, typically maturing in one-to-three months, the people said. At the same time, it has conducted onshore swaps of maturities of more than a year, they said. These swaps replenish some of the liquidity drain caused by the RBI’s onshore dollar sales aimed at stabilizing the rupee.RBI Governor Sanjay Malhotra said on Friday that while the authority does not resist market-driven adjustments in the rupee, it curbs excessive volatility in the exchange rate. The currency is often influenced by speculative pressures that are not in sync with fundamentals, he added.The growing derivatives book may still pose challenges. As contracts mature, they generate recurring demand for dollars, capping any sustained recovery in the rupee. The central bank is likely to use any renewed capital flows to unwind its short forward book and rebuild foreign-exchange reserves, according to Goldman Sachs Group Inc. analysts led by Kamakshya Trivedi.India’s foreign-exchange reserves were at $682.3 billion in the week of May 29, having dropped more than $40 billion since the Iran war began in late February.

The Economic Times (India)

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The AI trade trap: Why successful tech stocks are triggering a trillion-dollar market meltdown in Korea, Taiwan

An unprecedented concentration crisis in global technology equities has evolved into a structural trap for investors, triggering a violent "Black Monday" unwind that is reverberating across Asian emerging markets, such as Korea and Taiwan. Active portfolio managers are increasingly being forced to dump their best-performing chip heavyweights because these explosive stocks have grown too large for risk compliance limits.This structural anomaly has distorted regional benchmarks, accelerated a massive migration from active to passive funds, and triggered a historic correction.The structural breakdown manifested in extreme volatility across the region's tech hubs. South Korea’s Kospi index plunged more than 8% shortly after the market opened, triggering a mandatory 20-minute trading halt before narrowing its drop as memory giants Samsung Electronics and SK Hynix rebounded from their session lows.Also Read | Kospi crashes 9%, trading halted for 20 minutes, as chip rout deepens; Samsung, SK Hynix worst hitThe Cycle of Forced SellingThe core of the market distortion lies in a mechanical paradox: As tech giants outperform, active funds are legally or structurally required to trim their holdings to manage concentration risks. Just three mega-cap tech firms—Taiwan Semiconductor Manufacturing Co. (TSMC), Samsung, and SK Hynix—now command nearly a third of the MSCI Asia Pacific ex-Japan Index.The concentration is even more extreme on a national level. TSMC occupies a staggering 41.5% of Taiwan's TAIEX, while Samsung and SK Hynix together comprise 55% of South Korea's KOSPI."We have been forced sellers of TSMC, Samsung and MediaTek," Sam Konrad, investment manager for Asia Equity Income at Jupiter Asset Management, was quoted as saying by Bloomberg. His fund must shed these chipmaking stocks despite explosive year-to-date gains of 52% for TSMC, 159% for Samsung, and 184% for MediaTek.This mechanism creates an institutional dilemma where strong performance mandates divestment, artificially capping the upside for active portfolios trying to beat their benchmarks."As equities continue to outperform, funds will find it increasingly difficult to add exposure, reinforcing a cycle of forced selling and enlarging underweight positions even amid strong fundamentals," Herald Van der Linde, head of equity strategy for Asia Pacific at HSBC in Hong Kong, noted in a research report. HSBC data confirms that TSMC has become the largest portfolio underweight among Asian and global emerging-market funds.Emerging Market Exhaustion and Fund OutflowsData from Elara Securities India confirms that the Global Emerging Market (GEM) trade is experiencing its first major phase of sustained exhaustion since its rally began. GEM fund redemptions expanded to $3 billion, the largest outflow since December 2021, marking a clear breakdown in momentum.The capital flight has extended significantly beyond Korea and Taiwan to hit other major emerging markets. China saw foreign investors pull $3.7 billion, the largest single-week redemption in over a year, while South Korea logged six consecutive weeks of foreign outflows, compounded by a record $27.9 billion foreign portfolio rebalancing outflow.The systemic nature of the unwind is visible in the broader indices. Goldman Sachs data reveals that while the MSCI Asia Pacific ex-Japan index is up 27% year-to-date, it is actually down 4% when South Korea and Taiwan are excluded.This regional distortion has accelerated a massive, unprecedented migration from active stock-picking to passive indexing. Over the last five years, Asia's active funds have suffered $269 billion of cumulative outflows. Meanwhile, passive funds have accumulated $510 billion, with a quarter of that volume arriving in just the last six months."The size of recent inflows into the region’s passive funds... has no precedent across the last 10 years," said William Bratton, head of cash equity research for Asia-Pacific at BNP Paribas Securities.This phenomenon mirrors the “Magnificent Seven” dynamic on Wall Street, where tech giants account for about a third of the S&P 500. However, concentration in Asia has unfolded at a faster and more extreme pace, turning regional indices into concentrated bets on just one or two stocks and undermining the diversification benefits of benchmark investing.Broader Trade ImplicationsThe shockwaves from the AI tech unwinding are bleeding directly into structural commodities and the wider electrification ecosystem. Precious metal funds witnessed $2.8 billion of outflows, driven heavily by gold (-$2.1 billion) and silver (-$910 million, a 12-week high redemption), while energy funds recorded their second consecutive week of outflows. These asset classes had operated as indirect beneficiaries of the global AI infrastructure and electrification trade.Furthermore, Wall Street's nine-week winning streak concluded abruptly following a hot jobs report that ignited fears of a hawkish policy pivot by the US Federal Reserve, sending technology stocks into their largest one-day decline.Despite the steep selloffs, which saw South Korean equities slide 12% and Taiwan fall 6% from their record highs, market opinions remain starkly divided on whether this correction marks a peak or a buying opportunity.Some money managers are exploiting the correction to pivot to alternatives further down the supply chain, like mid-sized semiconductor equipment makers, or shifting money toward cheaper domestic themes like robotics. China's CSI Robot Index actually bucked the broader market declines, rising 1.4%.

Washington Examiner

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Trump’s fountain and reflecting pool beautification shows Democratic disarray is a choice

National Park Service crews turned on the spigot Thursday to begin filling the Lincoln Memorial Reflecting Pool, capping President Donald Trump’s citywide beautification initiative for Washington, D.C., in time for America’s 250th anniversary. The plan, which included the reopening of nine historic fountains across the city, is a reminder that the decrepit state of most […]

NBC News Top Stories

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Lesley Stahl, Bill Whitaker and Jon Wertheim say they’ll stay at ‘60 Minutes’

“60 Minutes” correspondents Leslie Stahl, Bill Whitaker and Jon Wertheim said Friday that they planned to stay on at the newsmagazine, capping days of turmoil.

Oil Markets Stop Believing Trump’s Peace Narrative

Fresh strikes on Kuwait and Oman undermine hopes of a U.S.-Iran de-escalation, keeping oil markets on edge and traders skeptical of diplomatic progress. Friday, June 05, 2026 This week’s strikes on Kuwait and the Friday morning attack on Oman have dented hopes for a de-escalation between US and Iran following the much-publicized Israel-Lebanon ceasefire. Whilst Oman’s main port is reportedly up and running again, capping ICE Brent around the $95 per barrel mark, most global crude benchmarks will post weekly gains of 2-3%. Against this…

South China Morning Post

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Shadow of old dictatorship looms over Peru’s bitter presidential run-off

Peru’s duelling presidential hopefuls made a final pitch to voters on Thursday, capping a bruising and razor-tight race dominated by anger over rising crime and political instability. Conservative Keiko Fujimori and leftist Roberto Sanchez staged rival events in Lima ahead of Sunday’s vote, with ardent flag-waving supporters arguing their “communist” or “dictator” opponents would bring the country to ruin. “We cannot let them win with communism and terrorism,” said bandana-wearing 65-year-old...

Uzbekistan’s debut World Cup crowns surge in football popularity

A June 17 opener against Colombia national football team in Mexico City is a reward in itself for Uzbekistan, capping the rapid rise of football in the landlocked Central Asian nation.

Ballon d’Or 2026: Favourites to win award ahead of World Cup

The curtain has fallen on the 2025-26 club season, with Paris Saint-Germain capping another remarkable campaign by lifting the UEFA Champions League trophy. The post Ballon d’Or 2026: Favourites to win award ahead of World Cup appeared first on Vanguard News.

Quartz

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Blackstone's private credit fund is capping investor withdrawals at half the demand

Investors sought to pull 10% of shares in the second quarter, double the fund's standard 5% repurchase limit

Asian stocks skittish as Middle East anxiety offsets AI optimism

Conflicting US-Iran developments leave markets whipsawing, capping gains from renewed tech momentum.

The Times of India

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Norway Chess: Gukesh, Praggnanandhaa, Divya all suffer classical defeats

Round 6 of Norway Chess brought a dramatic reversal for India as D Gukesh, R Praggnanandhaa, and Divya Deshmukh all suffered costly classical defeats in the reverse fixtures. Vincent Keymer outplayed Gukesh, Wesley So overcame Praggnanandhaa in a superior endgame, and Women’s World Champion Ju Wenjun defeated Divya. Magnus Carlsen returned to winning ways against Alireza Firouzja, while Koneru Humpy lost her Armageddon tie-break, capping a difficult day for India.

The New York Times

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Havoc in Hawaii’s Coffee Fields After an Earthquake Destroyed Water Collection Tanks

An earthquake destroyed many water catchment systems on Hawaii’s Big Island, capping a spring filled with devastating floods.

Daily Mail (News)

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Rachel Reeves's salary sacrifice raid to leave almost three million workers poorer in retirement, figures reveal

The Chancellor announced in November's Autumn Budget that she would be capping the amount workers can pay into their pensions via salary sacrifice schemes at £2,000.

‘So much love’: Montreal Victoire celebrate Walter Cup win with downtown parade

Thousands of fans packed downtown Montreal on Saturday as the Montreal Victoire celebrated their first PWHL championship, capping off a historic season with a victory parade.

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The Economic Times (India)

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