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Japanese Ministry of Finance requests a FY27 budget of JPY 38.6 tln, 15.1% increase compared to the initial budget for FY26, Kyodo reports; "the increase is due to rising interest rates"

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Japan's Ministry of Finance requested a JPY 38.6 trillion FY27 budget, up 15.1% year-on-year, driven primarily by higher interest rate debt servicing costs.

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Geopolitics

Pakistan has reported "significant progress" in high-level diplomatic talks held in Tehran, aimed at de-escalating the ongoing US-Iran war, Iran's Press TV reports

Geopolitics

A senior Iranian official told Al Jazeera journalist that the talks with [Iran and] Pakistani Field Marshal Munir were constructive, with useful ideas exchanged, "though no messages were passed in either direction"

Geopolitics

Pakistani Army Chief Munir conveyed an offer to Iran, from the US, to halt the siege and lift sanctions under the MOU, in exchange for opening the Strait of Hormuz and stopping proxy attacks, Al Arabiya/Al Hadath sources report