Weekly Review: June 14–June 20

Global News:

* U.S. and Iran Sign 14-Point Memorandum: The U.S. and Iran signed a 14-point memorandum on the 17th, setting a foundation for 60 days of nuclear negotiations in Switzerland, including the lifting of maritime blockades. Despite initial tensions in Lebanon, both sides agreed to a ceasefire brokered by the U.S. and Qatar. * G7 Re-focuses on Ukraine: At the G7 summit in France, the Russia-Ukraine conflict returned to the agenda. President Trump hinted at re-imposing sanctions on Russian oil due to increased shipping through the Strait of Hormuz. * BOJ Raises Rates to 1%: The Bank of Japan raised its benchmark rate to 1.0% on the 16th, the highest in 31 years, citing inflationary pressures from Middle East tensions and a weak Yen. * German EV Subsidies Controversy: Germany resumed EV subsidies in May, but critics argue the move is inadvertently boosting Chinese manufacturers, sparking debates within the EU regarding economic policy. * Finland Lifts Nuclear Ban: Finland’s parliament voted to remove its long-standing nuclear weapons ban, citing geopolitical necessity, though officials emphasized there are no current plans for permanent deployment. * UK Targets Social Media for Minors: The UK government plans to ban social media access for those under 16, pioneering restrictions on live streaming and direct messaging to protect minors. * UK Arson Tied to Russian Hackers: Two individuals were convicted for arson attacks on the UK Prime Minister's properties. Investigations linked the motive to the pro-Moscow hacker group 'NoName057', which has also targeted Taiwan’s government agencies. * Chinese Cyber Espionage: Google reported that a China-linked hacking group spent over a year infiltrating research institutions in the U.S. and Canada, stealing data on pharmaceuticals, public health, and military readiness. * Iranian Singer Sentenced: Iranian singer Amadi was sentenced to 74 lashes following an online performance where she appeared without a headscarf, highlighting ongoing human rights concerns in Iran. * World Cup Upset: Cape Verde held Spain to a 0-0 draw in the World Cup. Goalkeeper Vozinha gained international fame for his 7 saves, surging from 50,000 to over 14 million Instagram followers.

Domestic News:

* President Lai's Media Briefing: President Lai Ching-te emphasized Taiwan's commitment to collective defense and the status quo, noting that U.S. arms purchases are strategic signals of Taiwan's responsibility. * Defense Procurement: The Executive Yuan passed a special budget of NT$210 billion over five years to acquire indigenous unmanned vehicles, aiming to enhance asymmetric warfare capabilities. * Taiwan's Competitiveness: Taiwan ranked 4th in the 2026 IMD World Competitiveness rankings, its best performance ever, driven by GDP growth and AI-led production. * Budget Delays Impact Social Welfare: The Legislative Yuan’s delay in reviewing the central government budget is threatening the scheduled July rollout of eight major social welfare subsidy increases. * Stricter Penalties for Drug-Driving: New amendments propose revoking licenses for drug-driving and refusing testing, with lifetime bans for incidents resulting in severe injury or death. * Export Support for Fruit: South Korea extended its 5% tariff reduction on Taiwanese bananas, pineapples, and mangoes until August 15th, aiding Taiwan's high-end agricultural exports. * Regulation of 'Weight-Loss Needles': The FDA is considering mandatory customs declaration for GLP-1 weight-loss drugs brought into Taiwan by travelers to curb illegal gray-market sales. * Central Bank Policy: The CBC maintained interest rates for the ninth consecutive session, keeping real estate regulations in place to monitor the market amid high growth projections. * National Development Fund Growth: Government-backed investment funds have exceeded NT$21 billion, supporting over 500 companies in AI, drones, and aerospace sectors. * Pro-Baseball Contract Termination: CTBC Brothers terminated pitcher Hsu Chi-lin’s contract after his drunk-driving incident and subsequent concealment were revealed.