Day News Recap: Ukraine strikes deep in Russia as heat, war and security alerts spread
Ukraine said its drones hit the Taneko refinery in Nizhnekamsk in Russia's Tatarstan region, in an attack that also struck a hostel, as the death toll from the wider strike rose. πOil prices climbed sharply as traders lost hope that the Strait of Hormuz would reopen soon, with the prolonged closure keeping one of the world's most important shipping routes under pressure. π Iran also appointed former Revolutionary Guard commander Mohsen Rezaei as secretary of the Supreme National Security Council, a move that comes as talks over the strait continue. πIn the Middle East, Yemen's Houthis renewed missile and drone... [Continue Reading]
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Indonesia launches Sharia-compliant Gold ETF to expand bullion market
Indonesia's Financial Services Authority (OJK) and stock exchange operators have launched a Sharia-compliant Gold Exchange-Traded Fund (ETF) in Jakarta, with officials describing it as part of efforts to expand the nation's bullion market and improve capital sector liquidity. OJK Board of Commissioners Chairwoman Friderica Widyasari Dewi said the bullion market expansion is a "quick win" within the regulator's eight action plans. The new Gold ETF allows investors to track gold price movements on the Indonesia Stock Exchange (IDX) without needing to physically store the metal. The instrument follows Islamic financial principles under a fatwa issued by the National Sharia Council... [Continue Reading]

