Iranian authorities have announced the closure of the Strait of Hormuz, while former President Donald Trump stated that the Moon belongs to the United States.
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Russian marketplaces are restructuring operations amid rising risks, shifting from an FBO (Fulfillment by Operator) model to an FBS (Fulfillment by Seller) approach. Under the new model, sellers retain ownership of goods until a customer places an order, reducing logistics dependence, according to RBC.
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Chinese manufacturers are progressively integrating into European supply chains, substituting local companies with more cost-effective components. China is effectively "colonizing" European industry, potentially resulting in the loss of 300,000 jobs across the EU by year's end, according to The Guardian.
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The European Commission is working on measures to address migration crises, Politico reports. EU leaders at a recent summit expressed concerns about the potential for a repeat of the 2015 migration crisis amid ongoing conflicts in the Middle East.
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Oil prices climb as Strait of Hormuz tensions escalate. President Trump reports that oil flows through the Strait have nearly recovered to 18 million barrels per day from pre-conflict levels of 20 million. U.S. Energy Secretary Wright cites current volumes around 9 million barrels per day. The Islamic Revolutionary Guard Corps asserts the Strait is closed to vessels violating Iranβs navigation regulations, while Axios notes substantial tanker volumes and Reuters reports traffic has decreased to approximately four vessels daily.
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Japan sold $88 billion in foreign securities last month, the largest such sale on record, as part of efforts to intervene in the yen, according to Bloomberg. Most proceeds are believed to have been used for currency intervention. Japan continues to be the worldβs largest holder of U.S. Treasuries.
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Russian Prime Minister Mikhail Mishustin has directed the creation of additional incentives to stimulate business growth within the country, according to PRAIM.
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Rosseti Sibir's board of directors is scheduled to discuss the share buyback price today.
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Ukraine urges European Commission to expedite release of frozen Russian assets in Belgium amid Belgian resistance to using funds for reparational loan, says EU spokesperson Balazs Ujvari.
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DBS and Citi executed the first cross-border USD transaction between Singapore and the US using tokenized deposits on a new blockchain ledger, SWIFT.
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Two individuals connected to the case of PJSC Eurotrans Chairman Martyshev have been detained for two months, facing charges of large-scale embezzlement, according to law enforcement authorities.
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Hunter Biden is set to launch his meme coin, LAPTOP, on September 8, according to the Wall Street Journal. For additional information, visit WSJ.
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PIK's Board of Directors has approved the delisting of its shares. The buyback price for dissenting shareholders has been increased to 551.4 rubles per share from a previous 537.9 rubles, following a correction in the company's announcement. The updated information is available here. The general shareholders meeting is scheduled for October 13.
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Ukrainian President Volodymyr Zelensky said the U.S. is examining options for de-escalation during winter, including the potential for Ukraine and Russia to take steps toward easing hostilities and resuming negotiations for a broader peace agreement, Zelensky disclosed in an interview with Axios.
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An Iranian tanker was reportedly targeted in a missile attack by the United States off the coast of Kharg Island, approximately four miles offshore, according to Tasnim News Agency.
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OpenAI has announced that its new AI model has proved the existence of a singularity, solving one of the seven Millennium Problems.
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