International News 26 June 2026
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Amazon to Invest Additional US$13 Billion in India for AI and Cloud Expansion
Amazon announced plans to invest an additional US$13 billion in India by 2030 to expand its artificial intelligence and cloud computing infrastructure. The new commitment comes on top of the US$35 billion investment plan unveiled last year, bringing Amazon’s total planned investment in India to US$48 billion over the next five years. The announcement followed a meeting in New Delhi between Amazon CEO Andy Jassy and Indian Prime Minister Narendra Modi. In a post on X, Jassy said the company would invest US$48 billion over the next five years, including more than US$21 billion dedicated to AI and cloud infrastructure. According to Amazon, the additional US$13 billion will support the expansion of AI and cloud capabilities across Mumbai and Hyderabad. The move highlights India’s growing importance as a strategic hub for cloud computing, artificial intelligence, and advanced technology investment, attracting significant capital commitments from major U.S. technology companies.
PBOC to Introduce Overnight Reverse Repos to Strengthen Short-Term Liquidity Management
China’s central bank, the People's Bank of China (PBOC), will begin conducting overnight reverse repo operations as part of its open market operations starting next week. The move is aimed at improving short-term interest rate management and ensuring adequate liquidity within the banking system. In a statement released on Thursday, the PBOC said the new overnight reverse repo operations will be conducted on June 29 and 30 through a fixed-rate, quantity-based bidding mechanism. The central bank stated that the measure is intended to better meet the banking sector’s short-term liquidity needs. The announcement follows remarks made last week by PBOC Governor Pan Gongsheng regarding plans to expand the use of overnight reverse repo tools to enhance liquidity management in China’s financial markets. Reverse repos are commonly used by central banks to inject funds into the financial system by purchasing securities from financial institutions with an agreement to sell them back at a later date.
Trump Presses Defense Contractors to Accelerate Weapons Production Amid Rising Military Demands
U.S. President Donald Trump met with leading defense manufacturers at the White House on Wednesday as his administration pushes to accelerate weapons production following military operations in Iran and other ongoing conflicts. The United States has supplied significant quantities of military equipment to allies while simultaneously drawing on its own stockpiles, raising concerns about the availability of key air defense systems and precision-guided munitions. According to sources familiar with the meeting, discussions lasted longer than expected as participants were given an opportunity to address production challenges and capacity plans. Deputy Defense Secretary Steve Feinberg reportedly challenged industry claims of production progress, pointing to delays affecting several major defense programs. One source said the administration delivered a blunt message to executives, emphasizing that the industry had not done enough to meet growing national security requirements. The meeting underscores increasing pressure on defense contractors to expand manufacturing capacity as Washington seeks to replenish inventories and prepare for potential future military contingencies.