Iran's vice president said Iran's enemies still do not understand Iran or its people.

UNCTAD says services trade is reshaping global commerce; digital-deliverable services grew 7.1% annually over the past decade and now account for 56% of global services exports. Least-developed countries’ share of global services trade has fallen to 0.6%, and digital-deliverable services represent just 16% of their services exports. UNCTAD identifies weak network connectivity and inadequate digital payments infrastructure as key constraints and calls for stepped-up digital infrastructure to help developing economies, particularly LDCs, integrate into global digital services trade.

Bathla Group, an insolvent Australian property developer, has rippled through the country's property and private-credit markets. Administrator Teneo said talks with five lenders over bridge funding are ongoing and an outcome is expected Monday morning. The proposed financing would keep projects already funded by those five lenders under construction; other projects will cease on Monday. A A$2.3 bln funding shortfall has stalled 72 apartments and left contractors unpaid. The failure underscores vulnerabilities in Australia's A$144 bln private credit market.