US-Iran Talks in Switzerland: US Vice President JD Vance arrived in Switzerland to kick off a 60-day push on Iran’s nuclear program and the interim MoU to end the war, but the process is already under strain after renewed Lebanon fighting and Iran’s claim it closed the Strait of Hormuz—while the US says traffic is still moving. Hormuz Pressure on Energy: Trump warned the US could impose tolls on Hormuz if no deal is reached within 60 days, framing charges as “services rendered,” as businesses brace for longer disruption risks. Lebanon Ceasefire in Question: Israel-Hezbollah exchanges and Lebanon strikes continue to cast doubt on whether the diplomatic track can hold. OFW Repatriation Boost: Philippines President Marcos ordered an extra P3 billion for the Department of Migrant Workers’ repatriation and reintegration chain, with 10,446 Filipinos returned from the Middle East by June 17. Food and Cost-of-Living: Food inflation eased to a 17-month low, but civil society warns households still feel pressure. Regional Business Links: Qatar Chamber met Thailand’s trade officials to expand trade and investment cooperation, while Abu Dhabi’s Building the Future Summit 2026 will spotlight sustainable infrastructure and smart cities. Local Impacts of Middle East War: Pakistan’s mango exports are expected to shrink as Gulf demand softens and shipping costs rise. Australia Fuel Relief Extended: Australia extended its petrol excise cut for another month at a lower rate to ease cost-of-living strain tied to Middle East-linked oil disruptions.