UK Economy Watch: The UK economy shrank 0.1% in April, the first contraction since August, as services output fell and event cancellations linked to the Iran conflict hit arts, entertainment and related businesses. Global Growth Risk: The World Bank cut its 2026 global growth forecast to 2.5%, blaming Middle East conflict-driven energy shocks and renewed inflation pressures. China–US Trade Tension: China hit back at a US move to blacklist Chinese “military” firms, warning of retaliation and urging fair treatment. Budget Debate (Pakistan): Pakistan business groups welcomed some tax relief but criticized the lack of a clear export and industrial growth roadmap, with energy costs and revenue targets still worrying firms. Business Climate (Bangladesh): Bangladesh’s business chamber said the FY2026-27 budget is investment-friendly on paper, but execution and tough revenue targets could strain credit and recovery. Cross-border Investment (North Macedonia–Turkey): North Macedonia’s PM invited Turkish investors, pitching access to European markets and a push to digitize services and cut red tape. Small Business Spotlight (US): The SBA named a Pennsylvania “blue-collar” boiler repair shop as Small Business of the Year, highlighting rural job creation. Corporate Governance (US): Engaged Capital urged stronger board accountability as governance quality becomes a top investor priority. Tech & Markets (SpaceX): SpaceX’s Wall Street debut lifted shares sharply and made Elon Musk the first trillionaire, while Iran warned Musk-linked Middle East assets could be targeted. Local Openings (US): May saw a mix of openings including a water-saving data center and new retail and housing projects. Human Rights & Business Risk (Kenya/South Sudan): Amnesty says a South Sudanese whistleblower abducted in Kenya is held at a military base in Juba, raising concerns for cross-border business and safety.