Retail earnings and Fed minutes to test markets this week
Major retailers report quarterly earnings this week, while the Fed releases minutes from its July policy meeting.
Economy
Israeli Airstrike Kills Seven in Lebanon; Tankers Targeted Near Hormuz
An Israeli strike killed seven in Lebanon, while two vessels came under attack near the Strait of Hormuz, raising regional alarm.
India to Remain Among Fastest-Growing Economies, SBI Research Says
SBI Research says India will stay among the fastest-growing economies, citing strong credit, deposits, and corporate performance.
AI to Push Indian Banks Beyond Digitisation, Says FICCI-IBA-BCG Report
A new report says Indian banks must move beyond digitisation, using agentic AI to automate complex tasks and free staff for higher-value work.
RBI's Early FCNR Window Closure Unlikely to Dent Banking System Gains
RBI's early closure of the FCNR(B) window is unlikely to hurt banks, as inflows of $52.3 billion have already boosted liquidity and eased funding costs.
India scraps petrol export duty, keeps diesel and ATF levies unchanged
India has reduced the export levy on petrol to nil for the August 15-31 fortnight, while retaining duties of Rs 24 per litre on diesel and Rs 19.5 per litre on ATF.
WPI Inflation to Stay Elevated in FY27; Retail Pass-Through Seen Limited
Wholesale inflation remains high at 9.8% in July, with FY27 outlook elevated due to food and fuel costs. Retail inflation pass-through expected to be limited.
Taiwan's Parliament Approves Delayed Budget, Keeps Drone Spending Intact
Taiwan's opposition-led parliament passed the 2025 budget after a record delay, cutting spending but preserving drone programme funds.
Iran Vows to Keep Strait Closed as Trump Defends Fuel Costs
Iran says it will keep the Strait of Hormuz blocked until the US accepts defeat, as tanker traffic remains halted and Washington defends higher gasoline prices.
Cosan narrows Q2 loss, revamps leadership and exits NYSE
Cosan's Q2 net loss fell 66% year-on-year to R$320 million, aided by lower interest costs. The firm also named a new CFO and will delist from the NYSE.
Canada and US Still Far Apart on Trade Deal Ahead of Tariff Deadline
Canadian minister Dominic LeBlanc says talks with the US are far from a draft agreement, with new 50% tariffs on Canadian goods looming.
Fitch Affirms UK's AA- Rating, Cites Policy Credibility and Market Depth
Fitch has affirmed the UK's 'AA-' sovereign rating with a stable outlook, citing a diversified economy, credible policy framework, and stronger political footing.
ADNOC Vessel Attacked in Strait of Hormuz, Third Incident in a Week
An ADNOC vessel was attacked in the Strait of Hormuz, the third such incident in a week. No injuries were reported.
Trump links higher fuel costs to Iran policy, floats Hormuz claim
Trump urges Americans to accept higher gas prices as the cost of confronting Iran, and says he will soon declare the Strait of Hormuz a US territory.
Latin American assets head for steep weekly fall as Brazil jitters and AI rotation bite
Latin American stocks and currencies are set for their biggest weekly losses in months, led by Brazil's selloff amid election jitters and a global rotation toward AI-heavy Asian markets.
Five years on, Kabul woman scavenges to keep family alive
A Kabul woman's daily struggle to support her family by scavenging and begging, five years after the Taliban's return to power.
Oil jumps over $1 as tanker attacks rattle Strait of Hormuz
Crude futures rose over $1 on tanker attacks in the Strait of Hormuz and no progress in US-Iran talks.
Student stumbles on €9 million gold hoard during Belgian renovation
A Belgian construction student found gold worth €9 million hidden in a wall. The treasure was handed over to authorities.
Brazil invokes reciprocity law in response to US tariffs, Lula says
Brazil's Lula triggers a reciprocity law against US tariffs, seeking to assert strength while signaling openness to negotiations.
Romania PM urges energy overhaul as drought forces second reactor shutdown
Romania's PM calls for serious energy investment after drought forces a second Cernavodă reactor shutdown.