Global Express | July 7, 2026 Russian Strikes Kill 22 in Kyiv as Ukraine Hits Back with 430+ Drones on Moscow

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📰 Russia Launches Massive Missile and Drone Assault on Ukraine, at Least 22 Killed

Russia unleashed waves of ballistic and cruise missiles alongside drones at Ukraine early Monday morning, targeting the capital Kyiv in a coordinated assault that killed at least 22 people. The multi-pronged attack exposed widening gaps in Ukraine's air defenses more than four years into Moscow's full-scale invasion.

The strikes hit multiple residential areas in Kyiv, with several apartment buildings suffering direct hits. Emergency crews worked through the rubble as parts of the city experienced temporary power and water outages. The attack came just days after a combined Russian strike killed at least 31 in Kyiv the previous week.

President Volodymyr Zelenskyy condemned Russia's "terrorist tactics" and renewed his urgent appeal for Western allies to accelerate deliveries of promised air defense systems. The timing of the assault, on the eve of the NATO summit in Ankara, was widely seen as Moscow's message to the Western alliance.

— AP News

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📰 Ukraine Fires 430+ Drones at Moscow in Largest Air Raid on Russian Capital Since 2024

In direct retaliation, Ukraine launched more than 430 drones at Moscow and the surrounding region overnight Monday into Tuesday in what state media described as the largest air raid on the Russian capital in two years. Moscow Mayor Sergei Sobyanin said "most" drones were "neutralized by air defense forces on distant approaches," with 36 destroyed on approach to Moscow.

All four of Moscow's major airports imposed flight restrictions during the overnight barrage, which were lifted Tuesday morning. Russia's Defense Ministry claimed it intercepted 452 Ukrainian drones across 17 Russian regions and over the Sea of Azov and Black Sea. No casualties or damage were officially reported.

Zelenskyy had told the Financial Times earlier that Ukraine's increasingly sophisticated deep-strike drone capability is designed to pressure Vladimir Putin into ending the war. "When it is no longer one hundred drones but one thousand flying towards Moscow... he will understand," the Ukrainian leader warned.

— The Moscow Times

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📰 Trump Arrives in Ankara for NATO Summit as Alliance Faces Extraordinary Pressure

U.S. President Donald Trump arrived in Ankara on Tuesday for the annual NATO summit, held under the shadow of Russia's deadly strikes on Kyiv and Ukraine's massive drone counteroffensive. Deep divisions within the alliance over defense spending levels and military aid to Ukraine have set the stage for potentially tense deliberations.

Trump reiterated ahead of the summit his demand that NATO members increase defense spending to 5% of GDP, hinting at trade pressure on allies he has labeled "free riders." Analysts note that with the Russia-Ukraine war intensifying dramatically, alliance unity faces its most severe test since the end of the Cold War.

Ukrainian President Zelenskyy will also attend the summit in person, expected to make a direct appeal to NATO leaders for additional air defense systems and long-range strike weapons. The agenda also includes NATO's strategic pivot toward the Indo-Pacific and a coordinated position on the Iran crisis.

— CNN

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📰 Ukraine Strikes Russia's Largest Oil Refinery Deep in Western Siberia

The Ukrainian military announced Monday that its drones struck Russia's largest oil refinery in the western Siberian city of Omsk, marking one of the deepest attacks on Russian territory since the full-scale invasion began. The Gazprom Neft-operated facility lies approximately 2,500 kilometers from the Ukrainian border.

NASA satellites recorded multiple fire hotspots at the facility Monday evening. Omsk region Governor Vitaly Khotsenko confirmed that "several drones" had broken through Russian air defense layers and struck the refinery, with emergency services dispatched to the scene. This represents the first time the Omsk region has been targeted by Ukrainian drones since the 2022 invasion.

Ukraine's General Staff stated that the Omsk refinery was the last of Russia's 11 largest gasoline producers to be hit. The facility processed around 460,000 barrels of crude oil daily last year. Separately, reports emerged that Gazprom has begun forming military reserve units to guard energy infrastructure from further drone attacks.

— The Moscow Times

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📰 Hamas Dissolves Gaza Government, Transfers Power to UN-Backed Committee

Hamas announced Monday that it is dissolving its administrative government in the Gaza Strip and transferring authority to a UN-backed transitional committee, a key component of the U.S.-brokered ceasefire deal. The move effectively ends Hamas's near two-decade de facto rule over Gaza.

Under the terms of the agreement, a committee composed of technocrats and independent figures will assume responsibility for civil administration in Gaza, including reconstruction efforts, humanitarian aid distribution, and basic public services. Hamas retains its status as a political organization but will no longer directly manage Gaza's administrative affairs.

Israel reacted cautiously, stating it would closely monitor the committee's actual operations. The U.S. Secretary of State described the development as "a significant milestone in the Middle East peace process" and pledged to coordinate international funding for Gaza's reconstruction.

— AP News

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📰 Mount Etna Erupts, Forcing Closure of Catania Airport in Sicily

Mount Etna erupted on July 5-6, ejecting an ash column reaching 1.5 kilometers into the sky and forcing Catania Airport—Sicily's busiest aviation hub—to suspend all flight arrivals and departures. Hundreds of flights were cancelled or diverted, stranding travelers across the Mediterranean island.

Airport management company SAC issued an operational directive closing all runways on Monday. By Tuesday, conditions had improved enough for partial resumption of services, though authorities maintained a red alert level. Airlines affected included Israir, Austrian Airlines, and numerous European carriers.

Mount Etna, Europe's most active volcano, has experienced frequent eruptive episodes in recent years. Italy's National Institute of Geophysics and Volcanology continues to monitor volcanic activity closely, warning nearby residents of health risks from ashfall.

— Euronews

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📰 Wall Street Surges: Dow Hits Record Above 53,000 as Chip Stocks Rally on AI Optimism

U.S. stocks posted strong gains Monday, with the Dow Jones Industrial Average closing above 53,000 for the first time—a record. The S&P 500 rose 0.72% and the Nasdaq Composite jumped over 1.1% as semiconductor stocks bounced back sharply from last week's selloff. The VanEck Semiconductor ETF surged 2.7% at the opening bell.

Broadcom and other AI-related chipmakers led the advance as investors piled into technology stocks tied to artificial intelligence ahead of the second-quarter earnings season. Market sentiment was buoyed by expectations that upcoming results will demonstrate strong AI-driven earnings growth.

Oil prices eased even amid ongoing tensions in Iran, providing additional support to equities. This week's market focus also includes the release of Federal Reserve meeting minutes and earnings reports from blue-chip names including Delta Air Lines and PepsiCo.

— Yahoo Finance

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📰 South Korea Launches 24-Hour Won Trading in Historic Market Liberalization

South Korea launched 24-hour trading for the won-dollar pair on July 6, marking the country's most significant foreign exchange liberalization since the 1997 Asian financial crisis. The won can now trade almost continuously from 6 a.m. Monday to 6 a.m. Saturday Seoul time.

Finance Minister Koo Yun Cheol attended the opening ceremony at Hana Bank's trading floor, where traders broke into cheers and applause as the first round-the-clock orders went through. Seoul hopes the extended trading hours will boost the won's international convertibility and support its bid for MSCI developed market status.

Analysts note that 24-hour trading significantly improves access for international investors, reducing transaction costs and enhancing liquidity. The won held steady against the dollar on the first day of extended trading, edging slightly higher in a smooth debut for the new regime.

— The Business Times

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📰 Macron Makes Historic Visit to Syria as First Western Head of State Since Assad's Fall

French President Emmanuel Macron landed in Damascus on Monday for the first visit by a Western European head of state since the 2024 toppling of longtime ruler Bashar al-Assad. Macron was greeted at Damascus International Airport by Syrian Foreign Minister Asaad al-Shaibani, marking a watershed moment in Syria's post-war reintegration into the international community.

Macron, accompanied by a delegation of French business leaders and investors, advocated for "a free, pluralist Syria that respects each of its components" and plays a moderating role in Middle East tensions. Syrian President Ahmed al-Sharaa hailed France's "constructive role" in the country's transition since Assad's ouster.

Discussions during the visit covered regional security, investment opportunities, and strengthening bilateral economic cooperation. Macron will travel directly from Damascus to Ankara for the NATO summit, underscoring France's active diplomatic push to reshape relations across the eastern Mediterranean.

— France 24

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📰 Novartis to Acquire UK Biotech Myricx Bio in Deal Worth Up to $1.5 Billion

Swiss pharmaceutical giant Novartis announced Monday that it has agreed to acquire UK-based biotechnology firm Myricx Bio for up to $1.5 billion, comprising $1.1 billion in upfront cash and up to $400 million in potential milestone payments. The transaction is expected to close in the second half of 2026.

Myricx Bio, a spinout from Imperial College London's Department of Chemistry, specializes in developing next-generation antibody-drug conjugates (ADCs) using a novel NMTi platform. These precisely targeted cancer therapies deliver potent payloads directly to tumor cells, maximizing efficacy while minimizing damage to healthy tissue.

The acquisition strengthens Novartis's oncology pipeline and its strategic position in precision cancer therapeutics. The deal underscores the continued appetite among Big Pharma for innovative ADC platforms as the next frontier in oncology treatment.

— Reuters