🔥 Top Stories
The US Senate Armed Services Committee approved the Fiscal Year 2027 National Defense Authorization Act (NDAA) totaling $1.15 trillion. The legislation explicitly authorizes the US Department of War to establish a "War Reserve Stockpile" program for Taiwan, enhancing logistics support and sustained combat capability during potential conflicts. The measure also expands First Island Chain security cooperation, including the Philippines as an aid recipient.
According to Politico, Qatar, UAE, and Pakistan convinced President Trump to cancel planned military strikes against Iran after assuring the White House that a preliminary ceasefire agreement was imminent. The leaked memorandum of understanding stipulates a 60-day ceasefire across all Middle Eastern fronts, during which negotiations on Iran's nuclear program will proceed. The US military will lift its naval blockade on Iran.
A 30-year-old drug-impaired driver in Taoyuan collided with a police vehicle before losing control and striking two pedestrians, killing them and himself. The driver was a monitored drug offender whose previous rehabilitation was deemed successful, yet he reoffended. Sentenced to four months in February this year, he had avoided incarceration despite three drug-related incidents.
US President Trump announced on the 11th the cancellation of planned military action against Iran, claiming a war agreement was reached. Multiple media outlets reported on the 12th that the US and Iran are actively negotiating, with hopes to sign a temporary peace agreement in Geneva as early as the 14th. Iran has not yet made a final decision.
SpaceX, a space and artificial intelligence company, issued 555.6 million shares at $135 per share, raising approximately $75 billion in what becomes the largest IPO in history. Based on reference prices from pre-trading sessions, SpaceX is expected to open at $165, representing a 22% increase from the offering price. CEO Elon Musk becomes the world's first trillionaire as a result.
🏛 Politics
The US Senate Armed Services Committee approved the Fiscal Year 2027 National Defense Authorization Act (NDAA) totaling $1.15 trillion. The legislation explicitly authorizes the US Department of War to establish a "War Reserve Stockpile" program for Taiwan, enhancing logistics support and sustained combat capability during potential conflicts. The measure also expands First Island Chain security cooperation, including the Philippines as an aid recipient.
According to Politico, Qatar, UAE, and Pakistan convinced President Trump to cancel planned military strikes against Iran after assuring the White House that a preliminary ceasefire agreement was imminent. The leaked memorandum of understanding stipulates a 60-day ceasefire across all Middle Eastern fronts, during which negotiations on Iran's nuclear program will proceed. The US military will lift its naval blockade on Iran.
A 30-year-old drug-impaired driver in Taoyuan collided with a police vehicle before losing control and striking two pedestrians, killing them and himself. The driver was a monitored drug offender whose previous rehabilitation was deemed successful, yet he reoffended. Sentenced to four months in February this year, he had avoided incarceration despite three drug-related incidents.
US President Trump announced on the 11th the cancellation of planned military action against Iran, claiming a war agreement was reached. Multiple media outlets reported on the 12th that the US and Iran are actively negotiating, with hopes to sign a temporary peace agreement in Geneva as early as the 14th. Iran has not yet made a final decision.
Premier Cho Jung-tai expressed deep concern over recent drug-impaired driving accidents in Taoyuan and Taichung. He advocated that courts should impose harsher sentences for drug-driving cases resulting in death, injury, or repeat offenses, regardless of drug classification, emphasizing that all drug-impaired driving poses serious dangers.
Premier Cho Jung-tai emphasized the progress of the western water supply corridor's 'Pearl String Plan,' which connects reservoirs and dams to enable water resource sharing between north and south Taiwan. The initiative aims to secure adequate water supply for both semiconductor manufacturing and agricultural development. President Lai Ching-te highlighted the plan's significance while witnessing TSMC's establishment of a supply chain hub in Pingtung.
Taiwan's Legislative Yuan passed the third reading of amendments to Article 26 of the Public Officials Election and Recall Act yesterday, relaxing restrictions to allow those with suspended sentences or community service orders to run for public office. Democratic Progressive Party caucus secretary-general Fan Yun criticized the move as the "Kao Hung-an clause," arguing it creates special privileges tailored for individuals and may subject prosecutors to political pressure. She warned that if convicted individuals return to prison during their terms, it could cause administrative chaos in election operations.
Taiwan's Legislative Yuan passed a third reading of amendments to the Public Officials Election and Recall Act on Tuesday, jointly proposed by the KMT and TPP caucuses. The amendment allows individuals under suspended sentences or serving community service to run for public office, removing legal barriers for Hsinchu Mayor Kao Hung-an's re-election bid. DPP legislator Lee Po-yi criticized the amendment as legislation tailored to specific individuals, compromising legislative fairness.
A recent drug-driving incident in Taoyuan resulted in two pedestrian deaths, involving a repeat drug offender. Prosecutors note that incarceration temporarily interrupts physical dependence but has limited effectiveness on psychological addiction. Experts advocate for multi-faceted intervention strategies addressing root causes rather than relying solely on punishment to break the recidivism cycle.
US President Trump announced on the 11th that he cancelled planned military strikes against Iran, stating both sides have reached a major reconciliation arrangement pending final documentation. Foreign media reports indicate the agreement could be signed in Geneva as early as the 14th. Following the announcement, major global stock markets surged on the 12th while international oil prices declined, reflecting positive market sentiment toward the negotiation progress.
💰 Finance
Gold prices are under pressure as strong US labor market data and rising real yields fuel expectations of potential rate hikes this year. UBS analysis suggests gold prices may test the 3,850 USD level in the short term. As a non-yielding asset, gold typically faces selling pressure when interest rate hikes are anticipated.
Taiwan's Food and Drug Administration announced new regulations limiting olive oil products to six official names: extra virgin olive oil, virgin olive oil, refined olive oil, olive oil, refined olive pomace oil, and olive pomace oil. The regulation, effective July next year, aims to prevent consumer confusion and aligns with international standards. Violations involving adulteration can result in fines up to NT$80 million.
Negotiations between the United States and Iran on a peace agreement have advanced, causing oil prices to decline. Additionally, SpaceX's record-breaking initial public offering contributed to gains in the US stock market at close.
SpaceX officially listed on Friday with an opening price of $150 per share and closed at $161.11, up 19.34% from the IPO price of $135. The company's market value reached $2.1 trillion, making it the sixth-largest publicly traded company in the United States. The stock peaked at $176.52 intraday with trading volume exceeding 500 million shares, approaching Facebook's 2012 IPO record. Elon Musk and SpaceX President and COO Gwynne Shotwell rang the opening bell from Texas and NASDAQ in New York respectively.
Markets anticipate a potential agreement between the United States and Iran to end the conflict. Following this development, international oil prices have declined significantly, while European stock markets surged today. Lower oil prices typically benefit oil-importing economies, contributing to the rise in European equities.
SpaceX, a space and artificial intelligence company, issued 555.6 million shares at $135 per share, raising approximately $75 billion in what becomes the largest IPO in history. Based on reference prices from pre-trading sessions, SpaceX is expected to open at $165, representing a 22% increase from the offering price. CEO Elon Musk becomes the world's first trillionaire as a result.
CME Group announced plans to introduce round-the-clock trading for gold futures and new micro crude oil contracts. One-ounce gold futures will begin 24-hour trading on July 26, while the new micro crude oil contract, sized at one-tenth of existing Micro WTI contracts, is scheduled to launch on August 30. Both contracts will use cash settlement and require regulatory approval before trading begins.
SpaceX, owned by Elon Musk, launched its initial public offering, attracting strong demand from sovereign wealth funds, institutional investors, and retail traders worldwide. The company is valued at approximately 1.8 trillion dollars. If the stock price rises significantly after listing, SpaceX's market capitalization could exceed TSMC's 1.85 trillion dollars, positioning it as the world's sixth-largest company by market value and potentially challenging Amazon, currently ranked fifth at 2.6 trillion dollars.
Goldman Sachs projects that hyperscale cloud service providers will spend up to 1.4 trillion dollars on capital expenditure by 2027 under an optimistic scenario. The investment bank argues that Wall Street consensus underestimates the scale of AI infrastructure investments required by these companies, expecting significantly higher spending on AI infrastructure in coming years.
SpaceX, Elon Musk's space exploration company, officially listed on Friday with an opening price of $150 and closing at $160.95, representing a 19.22% gain from the $135 IPO price. The company's market capitalization reached approximately $2.13 trillion on its first trading day, establishing it among the world's largest companies by market value.
🌏 International
The US Senate Armed Services Committee approved the Fiscal Year 2027 National Defense Authorization Act (NDAA) totaling $1.15 trillion. The legislation explicitly authorizes the US Department of War to establish a "War Reserve Stockpile" program for Taiwan, enhancing logistics support and sustained combat capability during potential conflicts. The measure also expands First Island Chain security cooperation, including the Philippines as an aid recipient.
According to Politico, Qatar, UAE, and Pakistan convinced President Trump to cancel planned military strikes against Iran after assuring the White House that a preliminary ceasefire agreement was imminent. The leaked memorandum of understanding stipulates a 60-day ceasefire across all Middle Eastern fronts, during which negotiations on Iran's nuclear program will proceed. The US military will lift its naval blockade on Iran.
A 30-year-old drug-impaired driver in Taoyuan collided with a police vehicle before losing control and striking two pedestrians, killing them and himself. The driver was a monitored drug offender whose previous rehabilitation was deemed successful, yet he reoffended. Sentenced to four months in February this year, he had avoided incarceration despite three drug-related incidents.
US President Trump announced on the 11th the cancellation of planned military action against Iran, claiming a war agreement was reached. Multiple media outlets reported on the 12th that the US and Iran are actively negotiating, with hopes to sign a temporary peace agreement in Geneva as early as the 14th. Iran has not yet made a final decision.
SpaceX, a space and artificial intelligence company, issued 555.6 million shares at $135 per share, raising approximately $75 billion in what becomes the largest IPO in history. Based on reference prices from pre-trading sessions, SpaceX is expected to open at $165, representing a 22% increase from the offering price. CEO Elon Musk becomes the world's first trillionaire as a result.
US President Trump announced on the 11th that he cancelled planned military strikes against Iran, stating both sides have reached a major reconciliation arrangement pending final documentation. Foreign media reports indicate the agreement could be signed in Geneva as early as the 14th. Following the announcement, major global stock markets surged on the 12th while international oil prices declined, reflecting positive market sentiment toward the negotiation progress.
SpaceX officially listed on Friday with an opening price of $150 per share and closed at $161.11, up 19.34% from the IPO price of $135. The company's market value reached $2.1 trillion, making it the sixth-largest publicly traded company in the United States. The stock peaked at $176.52 intraday with trading volume exceeding 500 million shares, approaching Facebook's 2012 IPO record. Elon Musk and SpaceX President and COO Gwynne Shotwell rang the opening bell from Texas and NASDAQ in New York respectively.
Pakistan's Prime Minister announced that the United States and Iran have reached consensus on the text of a peace agreement. A senior American official stated that both sides expect to sign the agreement within the coming days. The agreement aims to ease tensions between the US and Iran, though specific terms remain undisclosed.
Elon Musk's net worth has reached $1.11 trillion according to the Bloomberg rich list, making him the world's first trillionaire. SpaceX, his aerospace company, listed on the Nasdaq stock exchange with a valuation of $2.2 trillion, significantly boosting Musk's overall wealth.
SpaceX, led by entrepreneur Elon Musk, went public on the NASDAQ in New York on December 12, raising approximately $75 billion in the largest IPO by fundraising amount in history. The aerospace and AI company's listing marks a significant milestone in the commercial space industry.
NVIDIA has partnered with alternative investment giant KKR, Kuwait Investment Authority, and utility company Vistra to establish Helix Digital Infrastructure, an AI infrastructure supplier. The company commits over $10 billion in capital to provide infrastructure services for AI hyperscalers, addressing growing demand for AI computing resources and supporting the expansion of large-scale cloud operations.
SpaceX, Elon Musk's space exploration company, officially listed on Friday with an opening price of $150 and closing at $160.95, representing a 19.22% gain from the $135 IPO price. The company's market capitalization reached approximately $2.13 trillion on its first trading day, establishing it among the world's largest companies by market value.
Chinese authorities have detained a Myanmar-born American scholar-journalist on suspicion of espionage and endangering national security. The detention marks another point of friction between China and the United States. The specific details regarding the individual's identity and the timing of detention remain to be confirmed.
Japanese Prime Minister Takakichi Takakichi plans to propose a framework for international cooperation on critical mineral stockpiling, including rare earth elements, at the G7 summit in France next week. Japan will support participating nations in establishing coordinated stockpiling systems to enhance supply chain resilience and strengthen strategic partnerships among member countries.
Premier Cho Jung-tai expressed deep concern over recent drug-impaired driving accidents in Taoyuan and Taichung. He advocated that courts should impose harsher sentences for drug-driving cases resulting in death, injury, or repeat offenses, regardless of drug classification, emphasizing that all drug-impaired driving poses serious dangers.