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Globe and Mail
an hour ago
- Business
- Globe and Mail
Dollar Supported by Trade Optimism and Higher Bond Yields
The dollar index (DXY00) today is up by +0.18%. The dollar today is adding to Tuesday's gains on positive carryover from President Trump's action over the past weekend to extend the deadline for a 50% tariff on US importers of EU goods by about 5 weeks to July 9 from June 1. The dollar also has support from higher T-note yields. Gains in the dollar are limited by some negative carryover from last Thursday when the House passed President Trump's tax and spending plan, which would add to the burgeoning US budget deficit. The US May Richmond Fed manufacturing survey rose by +4 to -9, right on expectations. The markets are discounting the chances at 2% for a -25 bp rate cut after the June 17-18 FOMC meeting. EUR/USD (^EURUSD) today is down by -0.11%. Today's dollar strength is undercutting the euro. Also, weaker-than-expected economic news is weighing on the euro after German May unemployment rose more than expected and after German Apr import prices fell more than expected, dovish factors for ECB policy. Losses in the euro are limited after the ECB's Apr 1-year CPI expectations were the highest in 14 months, a hawkish factor for ECB policy. The ECB Apr 1-year CPI expectations indicator of +3.1% y/y was stronger than expectations of +2.8% y/y and the highest in 14 months. The ECB Apr 3-year CPI expectations indicator was unchanged from March at +2.5% y/y, right on expectations. German May unemployment rose by +34,000, higher than expectations of +12,000 and the most in 2-3/4 years. The May unemployment rate was unchanged at 6.3%, right on expectations. The German Apr import price index fell -1.7% m/m, a bigger decline than expectations of -1.4% m/m and the largest drop in more than two years. Swaps are discounting the chances at 98% for a -25 bp rate cut by the ECB at the June 5 policy meeting. USD/JPY (^USDJPY) today is up by +0.24%. The yen today added to Tuesday's sharp losses and fell to a 1-week low against the dollar on negative carryover from Tuesday when Bloomberg News reported that Japan's finance ministry sent a questionnaire to market participants regarding appropriate issuance amounts for government bonds, a sign the finance ministry may seek to reduce debt issuance. Also, higher T-note yields today are bearish for the yen. June gold (GCM2 5) today is up +4.10 (+0.12%), and July silver (SIN2 5) is down -0.021 (-0.06%). Precious metals today are mixed on consolidation after Tuesday's sharp losses. Demand for gold as an inflation hedge rose today after the ECB's Apr 1-year CPI expectations indicator of +3.1% y/y was stronger than expectations of +2.8% y/y and the highest in 14 months. In addition, precious metals prices have continued safe-haven support from uncertainty about global trade relations and geopolitical tensions in Ukraine and the Middle East. Bearish factors for precious metals include today's stronger dollar and higher global bond yields. Silver prices are also under pressure on concern that an escalation of the global trade war would dampen economic activity and demand for industrial metals.
The Independent
an hour ago
- Business
- The Independent
Ukraine-Russia war latest: Germany to bankroll Kyiv-made long-range missiles in new military pact
Germany is set to finance the production of long-range missiles in Ukraine after the two countries agreed a defence-sector pact. Ukrainian president Volodymyr Zelensky made the the announcement alongside German chancellor Friedrich Merz in Berlin, as Kyiv pushes to shore up its own defence industry to continue fighting off the Russian invasion. Asked whether Germany had agreed to send its Taurus cruise missiles to Ukraine, a topic of growing speculation, Mr Merz said Berlin wanted to enable the joint production of long-range missiles – but he would not disclose the details publicly. News of the agreement prompted the Kremlin to accuse Berlin of provocation. Mr Zelensky was earlier met with military honours at Germany's federal chancellery, a day after Mr Merz said he believed the war would drag on because Russia refused to negotiate. The Ukrainian leader warned that Russia was massing at least 50,000 troops near the Sumy region in Ukraine's northeast. The build-up follows reports that Russia appears to be gearing up for a summer offensive in Ukraine while Kyiv waits for Moscow to present a memorandum laying out its conditions to proceed with ceasefire talks.
Arab News
an hour ago
- Business
- Arab News
German leader offers to help Ukraine develop its own long-range missiles to hit Russia
BERLIN: German Chancellor Friedrich Merz pledged Wednesday to help Ukraine develop its own long-range missile systems that would be free of any Western-imposed limitations on their use and targets as the Kyiv government fights to repel Russia's invasion. Some of the advanced weapon systems that allies have supplied to Ukraine during the 3-year war were subject to range and target restrictions — a fraught political issue stemming from fears that if the weapons struck deep inside Russia, the Kremlin might retaliate against the country that provided them and draw NATO into Europe's biggest conflict since World War II. Standing beside visiting Ukrainian President Volodymyr Zelensky, Merz said that under an intensified cooperation agreement, Germany 'will strive to equip the Ukrainian army with all the capabilities that truly enable it to successfully defend the country,' including upgraded domestic missile production. After the United States, Germany has been the biggest individual supplier of military aid to Ukraine. 'Ukraine will be able to fully defend itself, including against military targets outside its own territory' with its own missiles, Merz said at a joint news conference. Hours after Merz's pledge, Russian Foreign Minister Sergey Lavrov publicly invited Ukraine to hold direct peace talks with Moscow in Istanbul on June 2. In a video statement, he said that Russia would use the meeting to deliver a memorandum setting out Moscow's position on 'reliably overcoming the root causes of the crisis.' He also said any Russian delegation would again be headed by presidential aide Vladimir Medinsky. 'We hope that all those who are sincerely interested in the success of the peace process in more than just words will support a new round of direct Russian-Ukrainian negotiations in Istanbul,' Lavrov said. Ukrainian Defense Minister Rustem Umerov said his country isn't opposed to such direct peace talks but it still hasn't seen the memorandum promised by Russia and that further meetings would be 'empty' without it. 'We call on them to fulfill that promise without delay and stop trying to turn the meeting into a destructive one,' Umerov wrote on X. He said he had handed such a document with the Ukrainian position to the Russian side. Low-level delegations from Russia and Ukraine held their first direct peace talks in three years in Istanbul on May 16. The talks, which lasted two hours, brought no significant breakthrough, although both sides agreed to the largest prisoner exchange of the war. It was carried out last weekend and freed 1,000 captives on each side. Germany doesn't mention its Taurus cruise missiles Merz declined to say whether Germany will supply its advanced Taurus long-range cruise missile to Ukraine — long a request by Kyiv and a step that Berlin has resisted. The decision not to commit to giving Taurus missiles to Ukraine was a 'big disappointment,' said lawmaker Roderich Kiesewetter, a senior member of Merz's party, the Christian Democratic Union. Merz loves 'very strong personal statements' but is not able to back them up with support from his coalition partners, Kiesewetter told The Associated Press. 'We have a Moscow connection in Germany,' Kiesewetter said, suggesting some politicians are in favor of Ukraine ceding territory to Russia to end the war, along with lifting some sanctions. Asked about Germany's offer to fund long-range missile production in Ukraine, Kremlin spokesman Dmitry Peskov responded that the move was an obstacle to reaching a peace agreement. Both Merz and Zelensky criticized the Kremlin's effective rejection of an unconditional ceasefire proposed by the US, which Kyiv accepted. Kyiv says Moscow has been slow to respond to proposals for a settlement. Merz said last Monday that Germany and other major allies were no longer imposing range limits on weapons they send to Ukraine, although he indicated their use was limited to Russian military targets. Ukraine has launched its own long-range drones against sites that support Russia's military efforts, including refineries and chemical plants. Then-US President Joe Biden last year authorized Ukraine to use US-supplied missiles for limited strikes in Russia. The decision allowed Ukraine to use the Army Tactical Missile System, known as ATACMS, against Russia. In Berlin, Zelensky called for deeper defense cooperation across Europe and with Washington, stressing the need for long-range capabilities and sustained military funding to ensure Ukraine's resilience. He said the cooperation projects already exist. 'We simply want (the missiles) to be produced in the quantity we need,' Zelensky told reporters. Zelensky said Tuesday that Ukraine is ready to hold peace talks at the highest level, including a trilateral meeting with himself, Russian President Vladimir Putin and US President Donald Trump. 'We are ready to meet at the level of leaders. Both the American side knows this, and the Russian side knows this,' he said. Zelensky said he would accept any configuration of talks, whether that includes one trilateral meeting or separate meetings with Trump. Peskov, the Kremlin spokesman, said Russia is grateful to Trump for his mediation efforts. 'At the same time, there is a big number of nuances to be discussed that can't be neglected and which neither party is going to sacrifice, because of its national interests,' Peskov told reporters. 'Just like the United States, Russia has its national interests that are of primary importance to us.' Front-line fighting, deep strikes continue Meanwhile, fighting has continued along the roughly 1,000-kilometer (620-mile) front line, where Ukraine's army is shorthanded against its bigger adversary. Zelensky claimed Tuesday that Russia is mobilizing up to 45,000 men every month, while Ukraine mobilizes between 25,000-27,000. Both sides are continuing to conduct deep strikes. Russia launched its biggest drone attack of the war against Ukraine on Sunday. Russian air defenses downed 296 Ukrainian drones over 13 Russian regions late Tuesday and early Wednesday, Russia's Defense Ministry said, in what appeared to be one of the biggest Ukrainian drone assaults of the war. Ukraine is increasing its domestic production of drones and missiles, according to Zelensky. He said late Tuesday that Ukraine wants European countries to help it invest in the manufacture of attack drones, air defense interceptors, cruise missiles and ballistic systems. Moscow Mayor Sergei Sobyanin said air defenses shot down Ukrainian 33 drones heading toward the capital. Moscow regional Gov. Andrei Vorobyov said 42 drones were downed. He said drone fragments damaged three residential buildings in the village of Troitskoye, but no one was hurt. More than 60 flights were canceled Wednesday in Moscow as the capital's airports were forced to ground planes amid drone warnings, said the federal aviation agency, Rosaviatsiya. Overnight, Russian forces launched an attack on Ukraine using five Iskander ballistic missiles, one guided air-launched missile and 88 drones, Ukraine's air force said. Air defense units shot down 34 drones, and 37 drones were jammed.
Arab News
2 hours ago
- Business
- Arab News
Germany's Merz offers to help Ukraine develop its own long-range missiles to hit Russia
BERLIN: German Chancellor Friedrich Merz pledged Wednesday to help Ukraine develop its own long-range missile systems that would be free of any Western-imposed limitations on their use and targets as the Kyiv government fights to repel Russia's invasion. Some of the advanced weapon systems that allies have supplied to Ukraine during the 3-year war were subject to range and target restrictions — a fraught political issue stemming from fears that if the weapons struck deep inside Russia, the Kremlin might retaliate against the country that provided them and draw NATO into Europe's biggest conflict since World War II. Standing beside visiting Ukrainian President Volodymyr Zelensky, Merz said that under an intensified cooperation agreement, Germany 'will strive to equip the Ukrainian army with all the capabilities that truly enable it to successfully defend the country,' including upgraded domestic missile production. After the United States, Germany has been the biggest individual supplier of military aid to Ukraine. 'Ukraine will be able to fully defend itself, including against military targets outside its own territory' with its own missiles, Merz said at a joint news conference. Hours after Merz's pledge, Russian Foreign Minister Sergey Lavrov publicly invited Ukraine to hold direct peace talks with Moscow in Istanbul on June 2. In a video statement, he said that Russia would use the meeting to deliver a memorandum setting out Moscow's position on 'reliably overcoming the root causes of the crisis.' He also said any Russian delegation would again be headed by presidential aide Vladimir Medinsky. 'We hope that all those who are sincerely interested in the success of the peace process in more than just words will support a new round of direct Russian-Ukrainian negotiations in Istanbul,' Lavrov said. Ukrainian Defense Minister Rustem Umerov said his country isn't opposed to such direct peace talks but it still hasn't seen the memorandum promised by Russia and that further meetings would be 'empty' without it. 'We call on them to fulfill that promise without delay and stop trying to turn the meeting into a destructive one,' Umerov wrote on X. He said he had handed such a document with the Ukrainian position to the Russian side. Low-level delegations from Russia and Ukraine held their first direct peace talks in three years in Istanbul on May 16. The talks, which lasted two hours, brought no significant breakthrough, although both sides agreed to the largest prisoner exchange of the war. It was carried out last weekend and freed 1,000 captives on each side. Germany doesn't mention its Taurus cruise missiles Merz declined to say whether Germany will supply its advanced Taurus long-range cruise missile to Ukraine — long a request by Kyiv and a step that Berlin has resisted. The decision not to commit to giving Taurus missiles to Ukraine was a 'big disappointment,' said lawmaker Roderich Kiesewetter, a senior member of Merz's party, the Christian Democratic Union. Merz loves 'very strong personal statements' but is not able to back them up with support from his coalition partners, Kiesewetter told The Associated Press. 'We have a Moscow connection in Germany,' Kiesewetter said, suggesting some politicians are in favor of Ukraine ceding territory to Russia to end the war, along with lifting some sanctions. Asked about Germany's offer to fund long-range missile production in Ukraine, Kremlin spokesman Dmitry Peskov responded that the move was an obstacle to reaching a peace agreement. Both Merz and Zelensky criticized the Kremlin's effective rejection of an unconditional ceasefire proposed by the US, which Kyiv accepted. Kyiv says Moscow has been slow to respond to proposals for a settlement. Merz said last Monday that Germany and other major allies were no longer imposing range limits on weapons they send to Ukraine, although he indicated their use was limited to Russian military targets. Ukraine has launched its own long-range drones against sites that support Russia's military efforts, including refineries and chemical plants. Then-US President Joe Biden last year authorized Ukraine to use US-supplied missiles for limited strikes in Russia. The decision allowed Ukraine to use the Army Tactical Missile System, known as ATACMS, against Russia. In Berlin, Zelensky called for deeper defense cooperation across Europe and with Washington, stressing the need for long-range capabilities and sustained military funding to ensure Ukraine's resilience. He said the cooperation projects already exist. 'We simply want (the missiles) to be produced in the quantity we need,' Zelensky told reporters. Zelensky said Tuesday that Ukraine is ready to hold peace talks at the highest level, including a trilateral meeting with himself, Russian President Vladimir Putin and US President Donald Trump. 'We are ready to meet at the level of leaders. Both the American side knows this, and the Russian side knows this,' he said. Zelensky said he would accept any configuration of talks, whether that includes one trilateral meeting or separate meetings with Trump. Peskov, the Kremlin spokesman, said Russia is grateful to Trump for his mediation efforts. 'At the same time, there is a big number of nuances to be discussed that can't be neglected and which neither party is going to sacrifice, because of its national interests,' Peskov told reporters. 'Just like the United States, Russia has its national interests that are of primary importance to us.' Front-line fighting, deep strikes continue Meanwhile, fighting has continued along the roughly 1,000-kilometer (620-mile) front line, where Ukraine's army is shorthanded against its bigger adversary. Zelensky claimed Tuesday that Russia is mobilizing up to 45,000 men every month, while Ukraine mobilizes between 25,000-27,000. Both sides are continuing to conduct deep strikes. Russia launched its biggest drone attack of the war against Ukraine on Sunday. Russian air defenses downed 296 Ukrainian drones over 13 Russian regions late Tuesday and early Wednesday, Russia's Defense Ministry said, in what appeared to be one of the biggest Ukrainian drone assaults of the war. Ukraine is increasing its domestic production of drones and missiles, according to Zelensky. He said late Tuesday that Ukraine wants European countries to help it invest in the manufacture of attack drones, air defense interceptors, cruise missiles and ballistic systems. Moscow Mayor Sergei Sobyanin said air defenses shot down Ukrainian 33 drones heading toward the capital. Moscow regional Gov. Andrei Vorobyov said 42 drones were downed. He said drone fragments damaged three residential buildings in the village of Troitskoye, but no one was hurt. More than 60 flights were canceled Wednesday in Moscow as the capital's airports were forced to ground planes amid drone warnings, said the federal aviation agency, Rosaviatsiya. Overnight, Russian forces launched an attack on Ukraine using five Iskander ballistic missiles, one guided air-launched missile and 88 drones, Ukraine's air force said. Air defense units shot down 34 drones, and 37 drones were jammed.
Globe and Mail
4 hours ago
- Business
- Globe and Mail
Meningioma Pipeline Appears Robust With 5+ Key Pharma Companies Actively Working in the Therapeutics Segment
DelveInsight's, 'Meningioma Pipeline Insight 2025' report provides comprehensive insights about 5+ companies and 5+ pipeline drugs in Meningioma pipeline landscape. It covers the Meningioma pipeline drug profiles, including clinical and nonclinical stage products. It also covers the Meningioma pipeline therapeutics assessment by product type, stage, route of administration, and molecule type. It further highlights the inactive pipeline products in this space. Discover the latest drugs and treatment options in the Meningioma Pipeline. Dive into DelveInsight's comprehensive report today! @ Meningioma Pipeline Outlook Key Takeaways from the Meningioma Pipeline Report In May 2025, European Organisation for Research and Treatment of Cancer - EORTC conducted a LUMEN-1 trial will investigate in a prospective randomized trial the efficacy of the precision medicine "theranostic" concept of combining diagnostic patient selection using PET-based molecular imaging and target-specific therapeutic intervention using a systemically administered radioligand. In May 2025, Baptist Health South Florida announced a phase II Study of Cabozantinib for Patients with Recurrent or Progressive Meningioma. DelveInsight's Meningioma Pipeline report depicts a robust space with 5+ active players working to develop 5+ pipeline therapies for Meningioma treatment. The leading Meningioma Companies such as NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Promising Meningioma Pipeline Therapies such as Nivolumab, Cabozantinib, Abemaciclib, SOM230C, Bevacizumab, 177Lu-DOTATATE, Pembrolizumab and others. Stay ahead with the most recent pipeline outlook for Meningioma. Get insights into clinical trials, emerging therapies, and leading companies with DelveInsight @ Meningioma Treatment Drugs Meningioma Emerging Drugs Profile Gleolan: NX Devolopment Corp NX development corp.'s drug, Gleolan also known as Aminolevulinic acid is an orally administered small molecule in development for the treatment and real time detection of meningioma. Gleolan is a prodrug that is metabolized intracellularly to form the fluorescent molecule Protoporphyrin IX (PpIX). The exogenous application of ALA leads to a highly selective accumulation of PpIX in tumor cells. Following excitation with blue light. It is a photosensitizer molecule which can utilize the energy to induce photochemical reactions to produce lethal toxic agents; ultimately results in cell death and tissue destruction. Nivolumab: Bristol-Myers Squibb Bristol-Myers Squibb 'breakthrough' drug nivolumab is currently being evaluated for the treatment of Meningioma and has demonstrated good safety and efficacy profile in phase II trials. Nivolumab is a human immunoglobin (IgG4) monoclonal antibody that binds to the PD-1 receptor and blocks the interaction with PD-L1 and PD-L2, releasing anti-tumor response. The Meningioma Pipeline Report Provides Insights into The report provides detailed insights about companies that are developing therapies for the treatment of Meningioma with aggregate therapies developed by each company for the same. It accesses the Different therapeutic candidates segmented into early-stage, mid-stage, and late-stage of development for Meningioma Treatment. Meningioma Companies are involved in targeted therapeutics development with respective active and inactive (dormant or discontinued) projects. Meningioma Drugs under development based on the stage of development, route of administration, target receptor, monotherapy or combination therapy, a different mechanism of action, and molecular type. Detailed analysis of collaborations (company-company collaborations and company-academia collaborations), licensing agreement and financing details for future advancement of the Meningioma market Explore groundbreaking therapies and clinical trials in the Meningioma Marketed and Pipeline Drugs. Access DelveInsight's detailed report now! @ New Meningioma Drugs Meningioma Companies NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Meningioma Pipeline report provides the therapeutic assessment of the pipeline drugs by the Route of Administration. Products have been categorized under various ROAs such as Subcutaneous Intravenous Oral Intramuscular Molecule Type Meningioma Products have been categorized under various Molecule types such as Small molecules Natural metabolites Monoclonal antibodies Product Type Unveil the future of Meningioma Treatment. Learn about new drugs, pipeline developments, and key companies with DelveInsight's expert analysis @ Meningioma Market Drivers and Barriers Scope of the Meningioma Pipeline Report Coverage- Global Meningioma Companies- NX Development Corp., Clarity Pharmaceutical Ltd., Bristol-Myers Squibb, Biosynthema Inc., and others. Meningioma Pipeline Therapies- Nivolumab, Cabozantinib, Abemaciclib, SOM230C, Bevacizumab, 177Lu-DOTATATE, Pembrolizumab and others. Meningioma Therapeutic Assessment by Product Type: Mono, Combination, Mono/Combination Meningioma Therapeutic Assessment by Clinical Stages: Discovery, Pre-clinical, Phase I, Phase II, Phase III Get the latest on Meningioma Therapies and clinical trials. Download DelveInsight's in-depth pipeline report today! @ Meningioma Companies, Key Products and Unmet Needs Table of Contents Introduction Executive Summary Meningioma: Overview Pipeline Therapeutics Therapeutic Assessment Meningioma – DelveInsight's Analytical Perspective In-depth Commercial Assessment Meningioma Collaboration Deals Late Stage Products (Phase III) Gleolan: Nx Development Corp. Drug profiles in the detailed report….. Mid Stage Products (Phase II) Nivolumab: Bristol-Myers Squibb Drug profiles in the detailed report….. Pre-clinical and Discovery Stage Products Drug profiles in the detailed report….. Inactive Products Meningioma Key Companies Meningioma Key Products Meningioma- Unmet Needs Meningioma- Market Drivers and Barriers Meningioma- Future Perspectives and Conclusion Meningioma Analyst Views Meningioma Key Companies Appendix About Us DelveInsight is a leading healthcare-focused market research and consulting firm that provides clients with high-quality market intelligence and analysis to support informed business decisions. With a team of experienced industry experts and a deep understanding of the life sciences and healthcare sectors, we offer customized research solutions and insights to clients across the globe. Connect with us to get high-quality, accurate, and real-time intelligence to stay ahead of the growth curve. Media Contact Company Name: DelveInsight Business Research LLP Contact Person: Yash Bhardwaj Email: Send Email Phone: 09650213330 Address: 304 S. Jones Blvd #2432 City: Las Vegas State: NV Country: United States Website:
