India Meteorological Department (IMD) says July rainfall in India may be below average.

WBG will abandon a prior target to allocate 45% of its lending to projects with climate co‑benefits. It will extend its Climate Change Action Plan but abolish the plan’s 35% climate co‑benefit lending target. The action plan is intended to better embed “smart development” into client countries’ needs and priorities.

China non-manufacturing business activity index 50.2 in June, up 0.1 percentage point from May, signalling a modest rebound. Services business activity index rose to 50.4, up 0.1 ppt; telecom/broadcast & satellite transmission, internet software & IT services, monetary financial services and insurance posted indices above 55, indicating faster volume growth, while aviation and real estate remained below the 50 threshold. Services business activity expectation index increased to 56.0, up 0.6 ppt. Construction business activity index edged up to 49.0, up 0.2 ppt, with the construction expectations index at 51.1 remaining expansionary.