Iranian rial hits record low as US unveils new sanctions
Iran's rial fell to a record 2.02 million per dollar on Monday as the US announced fresh sanctions targeting five key sectors of Tehran's economy.
Economy
German Business Confidence Beats Forecasts as Recovery Gains Traction
German business morale rose more than expected in August, with the Ifo index hitting 88.8, as recovery signs firm up.
Centre Moves to Ban Carbosulfan Insecticide Citing Health and Environmental Risks
The agriculture ministry has proposed a complete ban on Carbosulfan, citing toxicity risks to humans and the environment.
Riksbank Signals Possible Rate Hike as Inflation Risks Persist
Sweden's Riksbank held rates at 1.75% but minutes show Governor Erik Thedeen sees a hike as the likely next move if summer inflation proves sticky.
Salvini pushes €20bn extra deficit for Italy's 2027 budget
Italy's Deputy PM Matteo Salvini wants at least €20bn added to the 2027 budget deficit, plus new levies on banks and energy firms.
Japan's Debt-Servicing Bill Set to Hit Record ¥36.6 Trillion
Japan's debt-servicing costs are projected to rise 17.1% to a record ¥36.64 trillion next fiscal year, driven by higher interest rates.
Kazakhstan Refinery to Process Russian Oil, Export 30% Back to Russia
Kazakhstan's Kondensat refinery will process Russian crude and send 30% of the output back to Russia, as Moscow faces fuel shortages from Ukrainian attacks on its refineries.
AI Investment Boom Deepens US Fiscal Hole, Treasury Faces Yield Pressure
The AI boom is straining US finances through lower corporate tax revenue and higher borrowing needs, challenging Treasury Secretary Bessent's deficit plans.
Global Shifts: Labor Deals, Tariff Threats, and Immigration Rules
A roundup of global developments: labor deals in aviation and autos, new US tariffs on Canada, and stricter asylum visa rules.
Middle East Markets Brace for Iran Sanctions Fallout, Hormuz Risks
Gulf stocks inch higher on Saudi strength, but US-Iran tensions, Hormuz shipping risks, and a record-low rial weigh on sentiment.
Six Months Into Iran Conflict, Over 43% of Global Oil Output at Risk
Conflicts affecting major producers have cut into global oil supply and refining capacity, driving up fuel prices and inflation.
Canada Trade Spat Puts Republican Senate Hopefuls in a Bind
New US tariffs on Canadian imports are roiling border-state economies and complicating Republican Senate campaigns ahead of the midterms.
US sanctions Singapore oil trader Wellbred over Iran shipping ties
The US Treasury sanctioned Singapore-based Wellbred Capital and its UAE and Swiss trading firms over ties to an Iranian oil shipping magnate.
US Expands Iran Sanctions to Five New Sectors in Economic Push
The US has imposed sweeping new sanctions on Iran, targeting five additional sectors and suspending several general licenses to sever economic lifelines.
Japan Plans $630M Support for Undersea Cable Ships Amid Rising Risks
Japan's internal affairs ministry will request $630M in fiscal 2027 to help acquire 3-5 undersea cable ships, addressing growing risks.
Corn Futures Hold Near Three-Year High as US Crop Ratings Slip
Chicago corn futures held near three-year highs after US crop ratings fell more than expected, while wheat stayed firm and soybeans edged lower.
RBA board split on August rate hike, minutes show
RBA minutes reveal a divided board in August, with several members favouring a hike on inflation risks before unanimously holding rates.
Coles shares slip as Woolworths collectibles campaign slows sales start
Coles' fiscal 2027 sales growth missed estimates after Woolworths' collectibles campaign dented early supermarket sales; shares hit 12-week low.
Mexico Resumes Live Cattle Exports to US After Two-Year Screwworm Ban
Mexico restarted live cattle exports to the US after a nearly two-year halt caused by a screwworm outbreak, with new inspection and tracing measures in place.
Dollar Holds Steady as Iran Sanctions and Bond Buyback Plans Weigh
The dollar is flat against major peers as investors weigh expanded Iran sanctions and Treasury's plan to buy back longer-dated bonds.