Black Sea attacks choke grain exports and drive up global prices
Escalating attacks on Black Sea ports, cargo vessels and export infrastructure have crippled a vital global grain trade route, threatening supplies...
China unveils 15 measures to boost its western provinces, focusing on aviation hubs, ports, and rail links to enhance integration and economic development in the region.
China said on Sunday it would launch 15 measures to bolster the development of its western provinces with the construction of logistical infrastructure such as ports and aviation hubs.
The General Administration of Customs said the measures would enhance the integration of rail, air, river and sea links in China's west, state media reported.
The measures are to include enhancing international aviation hubs in cities including Chengdu, Chongqing, Kunming, Xi'an and Urumqi, while developing comprehensive bonded zones, and integrating these with ports and other transport links.
China has long sought to bolster the economic heft of its western regions, which have markedly lagged coastal provinces. But ethnic tensions in such places a Xinjiang and hard-line security measures Beijing says are needed to safeguard national unity and border stability, have drawn criticism from some Western nations.
China's western regions comprise around two-thirds of the country's land area and include regions such as Sichuan, Chongqing, Yunnan, Xinjiang and Tibet.
China's Politburo last year called for a "new urbanisation" of western China to revitalise rural areas, expand poverty alleviation efforts and strengthen energy resources. Efforts have also been made to increase linkages to Europe and South Asia through trade corridors including rail freight routes.
U.S. President Donald Trump says Washington is not seeking an extension of its memorandum of understanding with Iran, claiming the U.S. already controls the Strait of Hormuz through its naval blockade.
The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Ukraine has targeted at least 20 Wildberries warehouses across Russia since 18 July, disrupting a major logistics network. Kyiv says the strikes aim to disrupt alleged military-linked supplies, while the attacks have caused billions of dollars in losses and wider economic pressure.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2025, according to ICD–LSEG, as more countries explore Shariah-compliant finance.
Azerbaijan exported goods worth $17.372 million to Armenia between January and July 2026, according to data from the State Customs Committee, as commercial ties between the two South Caucasus neighbours showed signs of expansion.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
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