Update 19 June on YTL & MCement

The Dow Jones and S&P 500 ended Wednesday modestly lower following the Federal Reserve’s latest policy update, where the central bank kept interest rates steady and Chair Jerome Powell signaled it would wait to see the impact of President Trump’s tariffs on inflation before proceeding on rates.

The Fed kept its key rate unchanged Wednesday in a range of 4.25% to 4.50%, as markets expected. Nevertheless, it turned out to be a mixed bag of news for investors, as the central bank still signaled two rate cuts this year while simultaneously hinting at a stagflationary threat. The policymakers lowered the 2025 forecast for economic growth to just 1.4% and raised the core inflation outlook to 3.1%.

While Powell said in a press conference following the decision that “we’re beginning to see some effects” of tariffs on inflation, he also said that the policymakers are “well positioned to wait” before making any adjustments to rates.

“The size of the tariff effects, their duration and the time it will take are all highly uncertain,” Powell said. “That is why we think the appropriate thing to do is to hold where we are as we learn more.”

Trump told reporters outside the White House Wednesday that the Iranians had reached out and signaled that they would send a delegation to Washington for negotiations.

“They want to negotiate,” the president said. “They even suggested that they come to the White House. That’s courageous. It’s like not easy for them to do.”

Trump said ‘nobody knows’ his plans for Iran

The New York Times, June 19, 2025

As Israel bombed targets in Iran for the sixth straight day, President Trump refused to say whether he planned to order U.S. forces to attack Iran’s nuclear sites.

“I may do it,” he told reporters on the White House lawn. “I may not do it. I mean, nobody knows what I’m going to do.”

Later, in the Oval Office, Trump said he wasn’t looking for a war. “But if it’s a choice between them fighting or having a nuclear weapon, you have to do what you have to do,” he said. “And maybe we don’t have to fight.”

Earlier in the day, Iran’s supreme leader, Ayatollah Ali Khamenei, dismissed Trump’s threats and calls on Tuesday for “unconditional surrender.” Khamenei added that U.S. military intervention would be “accompanied by irreparable damage.”

Russia warns Trump against bombing Iran

The Daily Mail, June 19, 2025

Russia 's top brass has issued stark warnings to US President Donald Trump, urging the White House to stay out of the ongoing conflict between Israel and Iran as American military assets bear down on the region. Russian Deputy Foreign Minister Sergei Ryabkov declared that US military assistance to Israel could 'radically destabilize the Middle East' as Foreign Ministry spokeswoman Maria Zakharova said the world was 'millimeters from catastrophe'. The head of the SVR foreign intelligence service, Sergei Naryshkin, described the situation as 'critical' and added his agents were 'in contact with special intelligence services of both Iran and Israel'.

Vladimir Putin meanwhile has reiterated his willingness to act as a mediator between the warring parties as he seeks to position Moscow as a regional power broker. Fears that the United States could wade into yet another war in the Middle East grew yesterday when a security source revealed Trump and his team were considering a number of options, including joining Israel in strikes against Iranian nuclear sites. On Tuesday, Trump openly mused on social media about killing Iran's Supreme Leader Ayatollah Ali Khamenei, but said 'We are not going to take him out (kill!), at least not for now.'

Russia's insistence that the US must exercise restraint in the conflict comes after Iran's Supreme Leader Ali Khamenei vowed to punish Israel for its strikes, dismissed Trump's call for 'unconditional surrender' and said that an American military intervention would lead to 'irreparable consequences'. The Kremlin issued a statement following a conversation between Putin and his counterpart from the United Arab Emirates, Mohammed bin Zayed Al Nahyan, that called for a 'speedy end to hostilities' using 'political and diplomatic means'.

Putin's war in Ukraine has been made possible by enduring support from Tehran, and Russia and Iran signed a sweeping strategic partnership earlier this year to formalize their military and political alignment. But the Russian President was always going to put his own interests and those of his country before his allegiances to the Islamic Republic, and is using the opportunity to maneuver into a position as a power broker, mediator and potential saviour. A Kremlin statement at the weekend pointed out that 'the US is ready to hold another round of talks with Iran on the latter's nuclear program in Oman'.

Putin also personally telephoned the White House on Saturday to offer Moscow's services as an intermediary between Jerusalem and Tehran. A successful resolution of the Israel-Iran hostilities off the back of Russian mediation would be hugely supportive of Putin's efforts to portray Russia as a leader of the non-Western world and an enduring power with significant global influence. It would also likely earn Putin a significant amount of good grace from Trump that could prove useful in future ceasefire negotiations with Kyiv.

In the meantime, the Israel-Iran conflict offers a convenient distraction from the Russian armed forces' incessant assault on Ukraine's territory. Putin's troops this week launched one of their most brutal attacks on Kyiv of the war so far, unleashing waves of missiles and drones that destroyed apartment blocks and left more than two dozen people dead, with more still unaccounted for. As Putin works to insert himself into the Israel-Iran conflict, Trump is said to be considering a US strike on Tehran following Situation Room crisis talks with security advisers.

Iranian Supreme Leader warns 'the battle begins'

The Daily Mail, June 18, 2025

Iran's Supreme Leader issued a series of apocalyptic warnings as US President Donald Trump weighs three military options for the US in the ongoing war. Ayatollah Ali Khamenei (pictured) threatened Israel on Tuesday night with disturbing post of an image that showed balls of fire raining down upon an ancient city as a sword-wielding man storms the gate.

'In the name of the noble Haidar, the battle begins,' he wrote in Farsi, referring to Ali - whom Shia Muslims consider the first Imam and the rightful successor to the prophet Mohammed. Khamenei also shared a separate message in English, saying: 'We must give a strong response to the terrorist Zionist regime.' He added: 'We will show the Zionists no mercy.'

Meanwhile, Iranian state television ominously reported that 'tonight, a great surprise will occur - one that the world will remember for centuries.' Amid the threats, Trump is said to be considering a US strike on Tehran following Situation Room crisis talks with security advisers. Trump was given three options by advisors about how the largest military in history should assist Israel in demolishing Iran's nuclear program, according to The New York Times. For months Trump had tried to convince Netanyahu to use diplomacy with Iran. But while meeting with top advisors at the presidential retreat at Camp David earlier this month, he admitted: ‘I think we might have to help him.' That's when Trump was provided with three military options to assist Israel in their bombing campaign against Iran's nuclear threat, the Times said.

The first and most basic option was the US providing intelligence and jets for refueling Israeli airplanes on bombing missions along. The second option included American and Israeli joint strikes on Iran. The most hawkish option provided a plan for a US-led military campaign that included B-1 and B-2 bombers, aircraft carriers and 'cruise missiles launched from submarines,' the Times reported. Four U.S. B-52 Stratofortress bombers have already been stationed at the Diego Garcia base in the Indian Ocean - within striking distance of Iran.

The B-52s, which can carry nuclear weapons or other precision-guided bombs, were spotted on a runway at Diego Garcia on Monday. While those were being deployed, Trump urged Iran's 'UNCONDITIONAL SURRENDER' and even issued a death threat to Khamenei after he abruptly left the G7 summit in Canada. He said the US knows where the Supreme Leader is hiding out, but doesn't want him killed 'for now.' 'We know exactly where the so-called "Supreme Leader" is hiding,' the U.S. President wrote on Truth Social. 'He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. 'But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin,' Trump warned following reports that he nixed an Israeli request to take out Khamenei.

The president also spoke with Israeli Prime Minister Benjamin Netanyahu on Tuesday, though it remains unclear what the two world leaders discussed as drone strikes between Israel and Iran continued for a fifth consecutive day. Both Israel and Iran launched fresh strikes at each other overnight, as Iran's Revolutionary Guard said it launched a 'more powerful' new wave of missiles at Israel. Yet Gen. Abdul Rahim Mousavi, the commander in chief of Iran's army, claimed that all of the attacks 'carried out so far have been solely for the purpose of warning and deterrence. 'The punishment operation will be carried out soon,' he warned. Residents in Tel Aviv have already been seen running for shelter as missiles rained down on the city and the Iron Dome sprang into action. At the same time, Israel's military said it killed Iran's wartime chief of staff and carried out extensive strikes on Iranian military targets.

The International Atomic Energy Agency even reported that there appears to have been a 'direct impact' on Iran's Natanz nuclear facility. The hostilities first erupted on Friday, when Israel launched a massive pre-emptive strike on Iran, hitting nuclear and military facilities and killing top military brass and nuclear scientists. Iran has claimed its nuclear program is peaceful, and the US and others have assessed that Tehran has not had an organized effort to pursue a nuclear weapon since 2003. But the IAEA has repeatedly warned that the country already has enough enriched uranium to make several nuclear bombs. US President Trump has repeatedly argued that Iran cannot have a nuclear weapon - and members of his administration were set to meet with their Iranian counterparts to iron out a new deal in which the country would not develop any nuclear weapons in exchange for sanctions relief when Israel attacked.

Trump has since said he does not believe Israel will slow its assault on Iran, as Yechiel Leiter, the Israeli ambassador to the US, said 'this is the war to end wars'. 'This is the war to engender peace in the Middle East,' he added. Harking back to the audacious bombs-in-pagers plot against Hezbollah last year, Mr Leiter said: 'We've pulled off a number of surprises. When the dust settles, you're going to see some surprises on Thursday night and Friday, that will make the beeper operation almost seem simple.' Foreign affairs minister Gideon Sa'ar also noted that Israel's goals were to severely damage the nuclear program, the ballistic missile program and to 'severely damage Iran's plans to eliminate the state of Israel.' Israel would be greatly helped in those efforts if the United States did get involved, as American GBU-57 bunker-buster bombs are capable of striking deep underground - raising the possibility it could penetrate the Fordow nuclear enrichment site, buried deep in a mountain south of Tehran.

The United States also already has a Carrier Strike Group in the eastern Mediterranean, including an aircraft carrier, the USS Carl Vinson, with nine squadrons of fighter jets, as well as frigates and destroyers. And as Trump continues to deliberate on his options - after previously saying it was 'possible' that the United States get involved in the regional conflict - the Pentagon has sent more than 40 additional US jets to the UK and Europe. They are thought to include stealth bombers and air-to-air refuelers - which could be critical for any operation in the Middle East. The USS Nimitz aircraft carrier group also headed to the region from the South China Sea Monday.

UN says two Iranian nuclear sites destroyed in Israeli strikes

AFP, June 18, 2025

TEHRAN: The UN nuclear watchdog said Israeli strikes on Wednesday destroyed two buildings making centrifuge components for Iran’s nuclear programme near Tehran, while Iran said it fired hypersonic missiles as the arch foes traded fire for a sixth day.

Hours after US President Donald Trump demanded Iran’s surrender, supreme leader Ayatollah Ali Khamenei vowed his country would show “no mercy” towards Israel’s leadership.

Khamenei, in power since 1989 and the final arbiter of all matters of state in Iran, was to deliver a televised speech Wednesday.

Trump insists the US has played no part in ally Israel’s bombing campaign, but also warned his patience was wearing thin.

The long-range blitz began Friday, when Israel launched a massive bombing campaign that prompted Iran to respond with missiles and drones.

After the Israeli military issued a warning for civilians to leave one district of Tehran for their safety, Israeli warplanes hit the capital early Wednesday.

“More than 50 Israeli Air Force fighter jets… carried out a series of air strikes in the Tehran area over the past few hours,” the Israeli military said, adding that several weapons manufacturing facilities were hit.

“As part of the broad effort to disrupt Iran’s nuclear weapons development programme, a centrifuge production facility in Tehran was targeted.”

Centrifuges are vital for uranium enrichment, the sensitive process that can produce fuel for reactors or, in highly extended form, the core of a nuclear warhead.

The strikes destroyed two buildings making centrifuge components for Iran’s nuclear programme in Karaj, a satellite city of Tehran, the International Atomic Energy Agency said Wednesday.

In another strike on a site in Tehran, “one building was hit where advanced centrifuge rotors were manufactured and tested”, the agency added in a post on X.

Iran’s Revolutionary Guards said they had launched hypersonic Fattah-1 missiles at Tel Aviv.

Hypersonic missiles travel at more than five times the speed of sound and can manoeuvre mid-flight, making them harder to track and intercept.

No missile struck Tel Aviv overnight, despite Iran’s claims that its attacks were “repeatedly shaking the shelters”, though AFP photos showed Israel’s air defence systems activated to intercept missiles over the commercial hub.

Iran also sent a “swarm of drones” towards Israel, while the Israeli military said it had intercepted a total of 10 drones launched from Iran.

It said one of its own drones had been shot down over Iran.

‘Unconditional surrender’

Trump fuelled speculation about US intervention when he made a hasty exit from the G7 summit in Canada, where the leaders of the club of wealthy democracies called for de-escalation but backed Israel’s “right to defend itself”.

Back in Washington on Tuesday, Trump demanded the Islamic republic’s “unconditional surrender”.

He also boasted that the US could easily assassinate Iran’s supreme leader Ayatollah Ali Khamenei.

“We know exactly where the so-called ‘Supreme Leader’ is hiding. He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now,” Trump wrote on his Truth Social platform.

Trump met with his National Security Council to discuss the conflict. There was no immediate public statement after the hour and 20 minute meeting.

US officials stressed Trump has not yet made a decision about any intervention.

Hours later, Khamenei responded with a post on X, saying: “We must give a strong response to the terrorist Zionist regime. We will show the Zionists no mercy.”

Evacuations

Israel’s attacks have hit nuclear and military facilities around Iran, as well as residential areas.

Residential areas in Israel have also been hit, and foreign governments have scrambled to evacuate their citizens from both countries.

Since Friday, at least 24 people have been killed in Israel and hundreds wounded, according to Netanyahu’s office.

Iran said on Sunday that Israeli strikes had killed at least 224 people, including military commanders, nuclear scientists and civilians. It has not issued an updated toll since then.

More than 700 foreigners living in Iran have crossed into neighbouring Azerbaijan and Armenia since Israel launched its campaign, according to government figures.

On Tuesday in Tehran, long queues stretched outside bakeries and petrol stations as people rushed to stock up on fuel and basic supplies.

Iran’s ISNA and Tasnim news agencies on Wednesday reported that five suspected agents of Israel’s Mossad intelligence agency had been detained, on charges of tarnishing the country’s image online.

With air raid sirens regularly blaring in Tel Aviv, some people relocated to an underground parking lot below a shopping mall.

“We’ve decided to permanently set camp here until it’s all clear, I guess,” Mali Papirany, 30, told AFP.

Nuclear facilities

After a prolonged shadow war, Israel said its surprise air campaign was aimed at preventing Iran from acquiring nuclear weapons – an ambition Tehran denies.

The UN nuclear watchdog said there appeared to have been “direct impacts on the underground enrichment halls” at Iran’s Natanz facility.

Israel has maintained ambiguity regarding its own atomic activities, but the Stockholm International Peace Research Institute (SIPRI) says it has 90 nuclear warheads.

The conflict derailed a running series of nuclear talks between Tehran and Washington, with Iran saying after the start of Israel’s campaign that it would not negotiate with the US while under attack.

French President Emmanuel Macron said Trump had a critical role to play in restarting diplomacy with Iran, where any attempts at “regime change” would bring “chaos”.

Explosions heard in Tehran as Israel launches a new wave of airstrikes

Euronews, June 18, 2025

Intense Israeli airstrikes targeted Iran’s capital, Tehran, early on Wednesday after it issued a warning about a new area it could target.

A major explosion could be heard around 5 am local time in Tehran. Iranian officials offered no acknowledgement of the attacks, which has become increasingly common as the Israeli airstrike campaign has intensified since it began on Friday.

The Israelis earlier warned they could strike a neighbourhood south of Mehrabad International Airport, which includes residential buildings, military installations, pharmaceutical companies and industrial firms.

The attacks come just a day after US President Donald Trump warned Tehran's residents to evacuate and demanded the country’s unconditional surrender.

Trump departed the Group of Seven summit – or G7 – in Canada a day ahead of schedule to address the ongoing conflict between Israel and Iran. He informed reporters, "I’m not looking at a ceasefire. We’re looking at better than a ceasefire."

When asked to explain, he said Washington is seeking "a real end" to the conflict that could involve Iran “giving up entirely." He added: “I’m not too much in the mood to negotiate.”

He later issued a warning to Iran’s Supreme Leader Ayatollah Ali Khamenei that the US is aware of his whereabouts and his hiding spot and called for Iran’s “UNCONDITIONAL SURRENDER”.

It was not clear whether Trump was suggesting Tehran abandon its nuclear ambitions altogether or end the current wave of attacks.

Trump posted that there were no plans to kill Khamenei “at least not for now.” Despite warning that US’ “patience is wearing thin,” he indicated that diplomacy remains an option, adding that he could send Vice President JD Vance and special envoy Steve Witkoff to meet with the Iranians.

Iran offered no immediate response to the president's posts, but the country’s military leaders vowed that Israel would soon see more attacks.

“The operations carried out so far have been solely for the purpose of warning and deterrence,” Gen. Abdul Rahim Mousavi, the commander in chief of Iran’s army, said in a video. “The punishment operation will be carried out soon.”

Iran’s newly appointed commander reportedly assassinated

Iran has not provided an immediate response regarding the reported assassination of General Ali Shadmani in the Iranian capital, who was described by Israel as the highest-ranking military commander.

Prior to his recent appointment last week to a chief-of-staff-like position as the head of Iran’s Revolutionary Guard Corps’ (IRGC) Khatam al-Anbiya Central Headquarters, Shadmani was relatively unknown within the country.

This appointment came in the wake of the assassination of his predecessor, Gholam Ali Rashid, during an Israeli airstrike.

Israel announced a new wave of strikes on Tuesday evening as explosions and anti-aircraft fire boomed throughout Tehran, shaking buildings. The Israeli military said its warplanes had targeted 12 missile launch sites and storage facilities.

Israel's military warned the population to stay close to shelters as Iran fired a new barrage of missiles, but officials said most were intercepted.

Sirens sounded in southern Israel, including in the desert town of Dimona, the heart of Israel's never-acknowledged nuclear arms programme. Iran launched another barrage early on Wednesday. Israeli rescue services reported no immediate deaths or injuries.

Scores of people flee Tehran

Early on Tuesday, downtown Tehran saw a significant decrease in activity, with numerous shops closed, including the historic Grand Bazaar, which typically shuts its doors only during periods of crisis, such as the 2022 anti-government protests and the coronavirus pandemic.

On the roads out of Tehran to the west, traffic stood bumper to bumper. Many middle- and upper-class Iranians were headed to the Caspian Sea, a popular getaway spot. Long lines snaked from Tehran’s gas stations.

Tehran is one of the largest cities in the Middle East, with around 10 million residents, roughly equivalent to Israel's entire population.

Nuclear watchdog reports significant damage to Iranian facilities

The International Atomic Energy Agency (IAEA) stated its belief that Israel's initial aerial assaults on Iran's Natanz enrichment site had a direct impact on the facility's underground centrifuge operations.

Satellite imagery collected after Friday’s attacks showed “additional elements that indicate direct impacts on the underground enrichment halls,” the watchdog said.

The IAEA earlier reported that Israeli strikes had destroyed an above-ground enrichment hall at Natanz and knocked out electrical equipment that powered the facility. Most of Iran's enrichment takes place underground however to protect from airstrikes.

Israel has struck Natanz repeatedly and claims to have hurt its underground facilities, which experts assess contain 10,000 centrifuges that enrich uranium up to 60%.

Iran asserts that its nuclear programme is peaceful, while the United States and other nations have determined that Tehran has not engaged in a systematic effort to develop a nuclear weapon since 2003.

The IAEA has routinely warned that the nation possesses sufficient enriched uranium to manufacture multiple nuclear bombs if it so decides to pursue that path.

While Israeli Prime Minister Benjamin Netanyahu claims that strikes on Iran's nuclear facilities have delayed the nation's nuclear programme by a " very, very long time”, Israel has yet to successfully target Iran's Fordo facility, which lies deep within a mountainside.

Hitting Fordo would require the US to get involved militarily and deploy B-2 stealth bombers to drop its bunker-busting bomb. The 14,000 kg GBU-57 Massive Ordnance Penetrator uses its weight and sheer kinetic force to reach deeply buried targets.

Iran says it fired hypersonic missiles at Israel

AFP, June 18, 2025

TEHRAN: Iran claimed early today to have fired hypersonic missiles at Israel in the latest round of overnight strikes between the arch-foes, hours after Donald Trump demanded the Islamic republic’s “unconditional surrender”.

The US president insists Washington has played no part in ally Israel’s bombing campaign, but also warned Iran his patience is wearing thin as the conflict enters a sixth day.

Israeli warplanes targeted the Iranian capital before dawn today after the military issued a warning on social media for civilians in an area known as District 18 to evacuate.

Iranian state media reported explosions ricocheting in the Piroozi, Sabalan and Sayyad areas of Tehran.

In retaliation, Iran told residents of Tel Aviv to prepare for an attack, with the Islamic Revolutionary Guard Corps claiming its hypersonic Fattah-1 missiles were “repeatedly shaking the shelters” in the commercial hub.

“The 11th wave of the proud Operation Honest Promise 3 using Fattah-1 missiles” was carried out, the Guards said in a statement broadcast on state television.

Hypersonic missiles travel at more than five times the speed of sound and can manoeuvre mid-flight, making them harder to track and intercept.

Iran also sent a “swarm of drones” towards Israel, where the army said it intercepted two over the Dead Sea area.

World powers have scrambled for an off-ramp, hoping to prevent the conflict from spiralling into a region-engulfing war.

In separate phone calls with his Iranian counterpart and US envoy Steve Witkoff last night, Egyptian foreign minister Badr Abdelatty urged a diplomatic solution.

Trump fuelled speculation about American intervention when he made a hasty exit from the G7 summit in Canada, where the leaders of the club of wealthy democracies jointly called for a ceasefire.

Back in Washington yesterday, Trump demanded the Islamic republic’s “unconditional surrender”.

He also boasted that the US could easily assassinate Iran’s supreme leader.

“We know exactly where the so-called ‘Supreme Leader’ is hiding. He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now,” Trump wrote on his Truth Social platform.

He met with his national security council to discuss the conflict, ending after an hour and 20 minutes with no immediate public statement.

While he has repeatedly vowed to avoid wading into the “forever wars” of the Middle East, Trump ordered the USS Nimitz aircraft carrier to the region along with a number of US military aircraft.

US officials stressed he has not yet made a decision about any intervention.

Evacuations

Despite international alarm, neither side has backed off from the long-range blitz that began Friday, when Israel launched an unprecedented bombing campaign targeting Iranian nuclear and military facilities.

Israel claims its attacks have killed senior Iranian commander Ali Shadmani as well as his predecessor, Gholam Ali Rashid.

Residential areas in both countries have suffered deadly strikes since the fighting broke out, and foreign governments have scrambled to evacuate their citizens.

More than 700 foreigners living in Iran have crossed into neighbouring Azerbaijan and Armenia since Israel launched its campaign, according to government figures.

Among those evacuated were citizens of Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, along with others from Germany, Spain, Italy, Serbia, Romania, Portugal, the US, the UAE, China and Vietnam, a government source told AFP.

The US said it was closing its embassy in Jerusalem until Friday amid the growing conflict, but there was no announcement about helping Americans leave the “crisis area”.

Fearing violence, many residents of Tehran have fled.

Yesterday, long queues stretched outside bakeries and petrol stations as people rushed to stock up on fuel and basic supplies.

A cyberattack yesterday crippled Sepah Bank, one of Iran’s main state-owned banks, the Fars news agency reported.

With air raid sirens regularly screaming over Tel Aviv, some people relocated to an underground parking lot below a shopping mall.

“We’ve decided to permanently set camp here until it’s all clear, I guess,” Mali Papirany, 30, told AFP.

Nuclear facilities

After decades of enmity and a prolonged shadow war, Israel said its surprise air campaign was aimed at preventing Iran from acquiring nuclear weapons – an ambition Tehran denies.

Iranian media reported several explosions yesterday in the central city of Isfahan, home to nuclear facilities.

The UN’s nuclear watchdog said there appeared to have been “direct impacts on the underground enrichment halls” at Iran’s Natanz facility.

Israel has maintained ambiguity regarding its own atomic activities, but the Stockholm International Peace Research Institute (SIPRI) says it has 90 nuclear warheads.

The conflict derailed a running series of nuclear talks between Tehran and Washington, with Iran saying after the start of Israel’s campaign that it would not negotiate with the US while under attack.

French President Emmanuel Macron said Trump had a critical role to play in restarting diplomacy with Iran, where attempts at regime change would bring “chaos”.

China accused Trump of “pouring oil” on the conflict, while Turkish President Recep Tayyip Erdogan accused Israeli leader Benjamin Netanyahu of being “the biggest threat to the security of the region”.

Since Friday, at least 24 people have been killed in Israel and hundreds wounded, according to Netanyahu’s office.

Iran said on Sunday that Israeli strikes had killed at least 224 people, including military commanders, nuclear scientists and civilians.

It has not issued an updated toll since then.

YTL Corp and Malayan Cement bag top awards

YTL Corp has emerged as one of the top winner in FinanceAsia: Asia’s Best Companies award 2025.

YTL Corporation Berhad bagged the following awards:

• Best Managed, Conglomerate - Malaysia Gold

• Best Managed, Industries - Malaysia Gold

Malayan Cement Berhad bagged the following awards:

• Best Managed, Industrials - Malaysia Silver

• Best Managed Company - Malaysia Bronze

• Best Mid-Cap Company - Malaysia Silver

The 29th edition of FinanceAsia's annual flagship Awards, FinanceAsia Awards 2025, has introduced new features, which include expanded categories. The FinanceAsia Awards recognise the best banks, brokers and rating agencies across Asia. It constitutes one of the best-known and most credible sets of awards in Asia's financial services industry.

The Awards Ceremony Gala Dinner was held in Hong Kong on June 17, 2025. YTL sent a top management team to attend the award ceremony.

That demonstrates the top quality of management in YTL group of companies. In this latest award from FinanceAsia magazine, YTL was highlighted under the categories “Most Committed to Corporate Governance”, “Best Financial Management” and “Best Managed Company”.

YTL Power is hiring for Data Centre jobs in Johor

YTL Power is putting up hiring notice for its YTL Data Center Graduate Program - August 2025 Intake. LinkedIn posts show that YTL Data Centers is launching its next Graduate Program to develop the next generation of Shift Engineers who will operate and manage the critical infrastructure powering the digital economy.

The program offers fully-sponsored 2-month training with RM2,500/month allowance and full-time placement as a Shift Engineer after training. It offers a structured career development path and attractive benefits and 2-year bond for long-term growth.

YTL Data Centers is looking for 20 passionate graduates ready to take on the challenge of powering digital infrastructure starting in August 2025.

Another LinkedIn post shows that YTL Construction is hiring many more professionals for various positions across many departments:

• Testing & Commissioning Manager

• Construction Manager (M&E)

• Engineer (Testing & Commissioning)

• Site Engineer (M&E)

• Senior Site Engineer (M&E)

• Senior Technical Officer

• Design Engineer (M&E, Designs)

• Project Engineer (Mechanical / Electrical - Design)

• Senior Project Engineer (Mechanical / Electrical - Design)

• Site Safety Supervisor

• IT Manager / IT Administration

• Project Landscape Architect

• Project Architect

• Internship Opportunities

I understand all these position offerings are mostly for new data centre projects at YTL Green Data Centre Park in Kulai and some for YTL’s anticipated new projects in the UK. That is a strong signal that YTL Power has secured or is about to secure more data centre jobs.

The first phase of 20MW AI data centre has been successfully commissioned, the SEA Ltd colocation data centre has seen 2 x 8MW up and running, and the third 8MW under installation, the 40MW advanced DC for the US hyperscaler is about to complete in July 2025 and the 80MW advanced DC for the MNC is already under construction and will complete by stages from Q3 CY2025 to Q2 CY2026.

Hence, the new hiring of another 20 graduates for the data centre park means that more data centre deals are coming soon. However, I would caution against chasing the stock high as selling persists and short selling is not going away yet.

Net short positions on YTL Power and YTL both increased by 1.2m shares and 0.7m shares to 23.7m and 25.3m shares respectively at close Wednesday.