At least 100 dead as Nepal-Tibet border floods and landslides continue
At least 100 people have now been reported dead after massive landslides and flash floods struck the Nepal-Tibet border region, with search and rescue operations continuing across affected areas. The disaster has caused widespread damage in northern Nepal and on the Tibetan side of the frontier, including in Nuwakot district. Officials say the number of people missing remains very high, and the full scale of the destruction is still being assessed.The latest figures supplied by Nepal and China indicate that about 100 deaths have been reported so far, while 403 people are thought to be missing. Nepal's tourism board said... [Continue Reading]
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Day News Recap: Nepal flood toll rises as Haiti killings, Iran tensions and trade war deepen
Nepalโs flash floods and mudslides along the Nepal Tibet border have worsened, with at least 22 bodies recovered and 384 people still missing, after earlier reports said at least eight people had died in the disaster zone. ๐ ๐In Haiti, the UN says at least 47 people were killed in a gang attack near Kenscoff, close to the capital Port au Prince, one of the deadliest recent assaults in the area. Survivors are still searching for missing relatives after armed men descended on the farming community and bodies were left in the streets. ๐ ๐Iran remained at the centre of... [Continue Reading]
Nepal flash floods leave hundreds missing as at least eight deaths are confirmed
Flash floods have swept through parts of northern Nepal, leaving hundreds of people missing and at least eight deaths confirmed, according to the latest reports from authorities. The surge moved through the Trishuli River system after a large volume of water entered the Bhote Koshi from the Tibetan side. Villages, roads and other infrastructure were damaged in several districts, including Nuwakot, Dhading and Rasuwa.Footage from the affected areas showed muddy water rushing downstream and streets covered in mud and debris. Police urged residents to remain alert and to stay away from the banks of the Bhote Koshi, Trishuli and Narayani... [Continue Reading]
Wall Street Opens Mixed as Oil Slides, Gold and Bitcoin Rise, and Banks Outperform Tech
Executive summary: US equities opened mixed at 9:40 a.m. New York time, with the Dow edging higher while the S&P 500, Nasdaq Composite and Russell 2000 slipped. The clearest cross-asset move was a sharp drop in WTI crude, which helped pressure energy shares, while gold, Bitcoin and Ether advanced. Banks outperformed, defense stocks lagged, and chip shares were slightly lower, pointing to a market that is rotating rather than moving in one direction. [Continue Reading]
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US expands sanctions pressure on Iran as secondary penalties are threatened
The United States has announced a new sanctions package against Iran and warned that countries and companies continuing to trade with Tehran could face secondary penalties. The measures were presented as part of a broader effort to cut off Iran's revenue streams and intensify economic pressure while the conflict remains unresolved. According to the supplied reporting, at least 60 entities across the Middle East, Asia and Europe have been targeted.US Treasury Secretary Scott Bessent said the campaign would focus on Iran's oil income and other sources of revenue, and that firms facilitating transactions linked to Iranian oil could be targeted.... [Continue Reading]
ECB set for September rate hike as Iran war keeps inflation elevated
European Central Bank policymakers are preparing to raise interest rates at their September meeting, according to people familiar with the discussions. The expected move would lift the policy rate to 2.5% from 2.25% as officials respond to inflation pressures linked to the Iran war. The central bank is also said to have little appetite to signal further tightening beyond that point.The reported increase would come after the ECB raised borrowing costs in June for the first time in nearly three years. That earlier move was intended to stop a war-driven rise in energy prices from spreading more broadly through the... [Continue Reading]
Wall Street closes mixed as oil tumbles, gold surges and megacap tech splits the tape
Executive summary: US stocks finished mixed, with the Dow edging higher while the S&P 500 and Nasdaq Composite slipped. The session was defined by a sharp drop in WTI crude, a powerful rally in gold, and a split among big tech and chip shares, with Meta, Tesla and Microsoft higher but Nvidia and the broader SOXX chip gauge lower. Defensive and rate-sensitive signals were also visible in the move lower in energy stocks and the rise in banks, while Bitcoin and ether moved in opposite directions. [Continue Reading]
Qatar and Pakistan step up daily efforts to revive US-Iran talks amid Hormuz tensions
Qatar says it and Pakistan are speaking daily with parties involved in efforts to revive negotiations between the United States and Iran, as pressure from new US sanctions continues to build. The comments add a diplomatic track to an already tense standoff in which Washington has expanded restrictions on Iran and related entities. Qatar also urged Tehran to reopen the Strait of Hormuz, underscoring the regional stakes of the dispute.Majed Al-Ansari, Qatar's Foreign Ministry spokesperson, said officials were "on the phone on a daily basis" trying to work out ideas for a return to negotiations. He said Qatar remained focused... [Continue Reading]
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Wall Street opens mixed as gold surges, oil slumps and chip stocks retreat
Executive summary: U.S. markets opened with a split tape, as the S&P 500 and Nasdaq slipped while the Dow held a modest gain. The biggest moves came in commodities and rate-sensitive sectors, with gold jumping +3.6%, WTI crude dropping -6.2%, and defence, energy and chip stocks all under pressure. The pattern points to a sharp rotation away from cyclical and semiconductor exposure and toward haven assets. [Continue Reading]
US removes Syria from state sponsor of terrorism list as investment barriers fall
The United States has removed Syria from its list of state sponsors of terrorism after 47 years, in a move Washington says clears the final major barriers to private sector investment and Syria's reintegration into the global economy. The decision also removes Hayat Tahrir al-Sham, or HTS, from the US list of global terrorist organisations. It marks another major shift in US policy toward Syria's new leadership.US Secretary of State Marco Rubio said the move reflected the Syrian government's positive actions to distance itself from acts of international terrorism. US Treasury Secretary Scott Bessent said the change would help foster... [Continue Reading]
Wall Street closes mixed as chip rout, gold surge and Bitcoin breakout reshape risk appetite
Executive summary: U.S. markets finished the session with a sharp split between defensive and risk-sensitive assets. The S&P 500 fell -1.19%, the Nasdaq Composite dropped -2.50%, and the Russell 2000 lost -2.04%, while gold jumped +4.93%, Bitcoin surged +7.71%, and Ether gained +6.23%. The heaviest pressure came from AI and chip shares, with SOXX tumbling -9.47% and Nvidia sliding -7.35%, even as Apple and Microsoft held modest gains. The move points to a market rotating away from high-multiple growth and toward hard assets and select financials. [Continue Reading]
Wall Street Opens Lower as Tech Sells Off, Bitcoin Surges and Gold Breaks Higher
Executive summary: U.S. equities opened under pressure, led by a sharp slide in AI and chip shares, while Bitcoin, Ether and precious metals rallied. The move points to a broad risk rotation, with investors favoring hard assets and energy over high-multiple technology at the open. [Continue Reading]
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Two Palestinians killed in separate West Bank shootings as violence continues
The Palestinian Health Ministry said a 17-year-old Palestinian boy was shot dead in Sa'ir, north of Hebron, in one of two separate fatal shootings in the occupied West Bank on Friday. In a second incident, the Palestinian General Authority for Civil Affairs said 58-year-old Fathi Khazem was killed during an Israeli raid in Jenin. The two deaths were reported hours apart and involved different locations, different circumstances and different Israeli actors.In Sa'ir, the ministry identified the teenager as Karim Sanad Raja Shalaldeh. It said Israeli settlers shot him dead and wounded an elderly man after Palestinians allegedly threw rocks in... [Continue Reading]
International condemnation grows over Israel's E1 West Bank settlement plan
Multiple governments and the United Nations have condemned Israel's opening of construction tenders for more than 1,200 housing units in the E1 settlement project in the occupied West Bank. The latest criticism came after a joint statement from the United Kingdom, France, Germany, Italy, the Netherlands, Canada and Norway described the plan as unacceptable. The move has intensified diplomatic pressure on Israel over a project long seen as one of the most sensitive in the occupied territory.The European and Canadian statement warned that the plan would undermine the territorial contiguity of the Palestinian territories and said it could carry legal... [Continue Reading]
Evergrande founder Xu Jiayin sentenced to life in prison as fraud fine rises
A Chinese court has sentenced Evergrande founder Xu Jiayin to life in prison and imposed a larger financial penalty on the company in one of the most significant legal outcomes yet from China's property crisis. The Shenzhen Intermediate People's Court in Guangdong province said Xu was convicted of crimes including large-scale financial fraud, with political rights revoked for life and all personal property confiscated. The ruling also fined Evergrande Group and its real estate arm a combined 15.82 billion yuan, or about $2.4 billion.According to the court, the offences took place between 2016 and 2021, when Evergrande and Xu were... [Continue Reading]
Russians pull billions from banks for a second day amid fears over savings
Russian citizens are continuing to withdraw cash from banks amid fears that savings could be frozen or restricted, according to central bank data cited in the supplied material. The latest figures point to a sustained confidence shock in the banking system rather than a one-day reaction. The pressure is centred on Russia and is being linked to rumours circulating online about possible limits on deposits or withdrawals.During the first two weeks of August, cash in circulation rose by 286.4 billion roubles, or about ยฃ2.5 billion. The highest daily outflow cited was 56.8 billion roubles on 12 August, while the previous... [Continue Reading]
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