Cyber & AI Risk: FINMA warned Swiss banks and insurers that cyberattacks are rising sharply and that advanced AI risks are sector-wide, pushing firms to tighten operational controls and manage third-party dependencies. Aviation Manufacturing: Pilatus opened a CHF 100m composite center in Nidwalden to scale composite aircraft production and bring engineering and manufacturing under one roof. Finance Sector Watch: FINMA also signalled it is moving faster on AI use while strengthening international regulator cooperation. Trade & Drones: The US announced up to 100% tariffs on imported drones and key components, with knock-on effects for global supply chains and pricing. Logistics & Shipping: A Chinese operator started a regular Northern Sea Route container service, aiming to cut transit times versus Suez and boost Arctic trade links. Agriculture & Water Stress: Swiss farmers face drought losses, while Swiss-linked reporting highlights clean-water infrastructure strain from ageing pipes and low pressure. Biopharma: FDA granted accelerated approval for iberdomide in relapsed/refractory multiple myeloma, with Swissmedic involved via Project Orbis.