Fed likely to hold rates steady in September as inflation cools
July CPI rose 3.4% year-on-year, down from June, while core inflation slowed to 2.5%. Fed expected to hold rates in September.
Economy
Russia Looks to Reroute Grain Exports After Novorossiysk Strike
Russia's agriculture ministry is redirecting grain export flows to alternative Baltic, Caspian, and Far East routes after a Ukrainian strike halted Novorossiysk terminals.
Gulf of Mexico Drilling Auction Draws $82.7 Million in High Bids
The latest Gulf of Mexico oil and gas lease sale attracted $82.7 million in high bids, with 16 companies participating.
Bangladesh signs long-term LNG deal with US supplier Gunvor
Bangladesh approves 117 LNG cargoes from US-based Gunvor (2026-2038) and 8 spot cargoes to secure supply amid Qatari force majeure.
Hungary to Intervene on Danube to Avert Paks Nuclear Shutdown
Hungary is taking emergency steps to raise Danube water levels and prevent the first-ever full shutdown of its Paks nuclear plant.
US Inflation Stays Mild in July, Cooling Rate-Hike Expectations
US consumer prices rose 0.1% in July, with core inflation at 2.5% annually, reducing chances of a Fed rate hike next month.
Zambia Votes: Hichilema Seeks Second Term Amid Economic Recovery Push
Zambia holds a general election on Thursday. President Hichilema seeks a second term against 13 candidates, with the Tonse Alliance's Brian Mundubile seen as his main rival.
France's Summer Heatwaves Could Drain Up to €15 Billion From Economy
France's environment minister says this summer's heatwaves could cost €10-15 billion, citing INSEE estimates amid ongoing drought and water cuts.
Zhu Rongji, Architect of China's Market Turn, Dies at 97
Zhu Rongji, the Chinese premier who steered the country into the WTO and modernized its economy, has died at 97.
Sri Lanka Central Bank Signals Rate Pause, Stays Alert on Inflation
Sri Lanka's central bank sees no need for further rate hikes this year, expecting inflation to ease to its 5% target by mid-2027.
Iran says no headway in reviving June truce with US
Iran reports zero progress in talks to revive the June interim deal with the US, as both sides trade accusations and the Strait of Hormuz remains closed.
US Inflation Cools in July, Clouding Fed's September Rate Path
US CPI rose 0.1% in July, matching forecasts, while core inflation cooled to 2.5% annually, complicating the Fed's September rate decision.
Saudi Red Sea oil shipments go dark as Houthi attacks escalate
Saudi crude loadings from Yanbu are now conducted without AIS signals, creating wide discrepancies in export data.
Ukraine and Moldova Agree on 50% Rail Cargo Discount Amid Black Sea Blockade
Ukraine and Moldova have agreed to a 50% discount on rail cargo shipments until year-end, helping maintain grain exports despite Black Sea port disruptions.
Oil prices climb as Middle East shipping attacks stoke supply fears
Oil prices rose on Wednesday after attacks on ships in key Middle East straits and deadlocked US-Iran talks raised supply concerns.
Houthi Missile Strike on Saudi Vessel Kills Six in Bab el-Mandeb
Six killed in Houthi missile attack on a commercial vessel in the Bab el-Mandeb strait; video claims show a Saudi ship ablaze.
US opens 81 million Gulf acres for oil and gas drilling in third mandated sale
The US will auction 81 million Gulf of Mexico acres for oil and gas drilling, the third sale mandated by a 2025 law.
July US inflation data to show if price pressures are easing
July US inflation data will show if price pressures are cooling, with economists expecting a slight easing from June's 3.5% annual rate.
Zhu Rongji, Former Chinese Premier and Economic Reformer, Dies at 98
Zhu Rongji, the former Chinese premier who drove market reforms and WTO accession, has died at 98 in Beijing.
US travel body warns visa bond expansion could hurt economy
US Travel Association warns expanding the visa bond program beyond 50 pilot countries could damage the economy and travel sector.