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The world doesn’t stand still, not even for a minute. But not all is bad; there is lots of good news too. This is what I found and read today:
Africa
Nigeria — At least 24 farmers killed in Zamfara State
Armed attackers riding motorcycles struck farming villages in northwestern Nigeria, killing at least 24 people and wounding several others, according to residents. The attack is another reminder of the persistent insecurity facing rural communities in the region.
South Africa — Central bank surprises markets
South Africa’s central bank unexpectedly kept its main interest rate unchanged. Financial markets had expected another increase, and the surprise decision sent the South African rand sharply lower.
Across Africa — New approach to funding infrastructure
African governments and development banks are increasingly using financial guarantees to attract private investors into major infrastructure projects as traditional foreign aid and development financing become harder to secure.
Ethiopia — Strong growth for Ethio Telecom
State-owned Ethio Telecom reported a 47.5% increase in earnings before interest and taxes, helped by growth in its customer base.
Asia
China/Taiwan — Live-fire military drills begin
China has begun two days of live-fire military exercises in parts of the Taiwan Strait near Fujian Province. The drills come amid continued tension surrounding Taiwan and followed discussions between senior U.S. and Chinese officials.
Thailand — Deadly attack in the deep south
Five Thai security personnel were killed when attackers struck a roadside checkpoint in Narathiwat Province. Six civilians, including two children, were also injured. Southern Thailand has experienced a long-running separatist insurgency.
South Korea — A new approach toward North Korea
South Korea says it is shifting from a policy of “denuclearisation first” toward “peace first.” The government says it still wants a nuclear-free Korean Peninsula but believes reducing tensions and rebuilding relations should come first.
Myanmar — Return to ASEAN leadership meetings still distant
ASEAN’s envoy says Myanmar’s leaders remain a long way from being welcomed back to the regional organization’s high-level meetings, reflecting continued dissatisfaction with the country’s political and humanitarian situation.
Australia
Australia’s job market remains strong
Australia’s unemployment rate remained steady while the economy added more than 76,000 jobs last month. The stronger-than-expected employment figures have increased speculation that the Reserve Bank may consider another interest-rate increase.
Western Australia — Indigenous land rights recognized
The Nganjuwarr native title claim has been formally recognized following an on-country court hearing in the East Kimberley. The determination recognizes Indigenous rights and interests covering nearly 1,000 square kilometres of land and water.
Europe
Drought is becoming a major European problem
Scientists say extreme heat is making drought conditions significantly worse across Europe by rapidly drying soils, rivers and reservoirs. Romania, Greece, France and the Netherlands are among the countries facing serious effects, including agricultural losses and water restrictions. Drought is increasingly being driven not only by a lack of rain, but also by how quickly extreme heat removes moisture from the landscape.
Ukraine/Russia — War continues amid leadership and sanctions developments
Ukraine’s new army chief has pledged to intensify counteroffensive operations while European governments continue discussions over additional sanctions targeting Russia. Fighting and long-range attacks remain intense.
Great Britain & Ireland
Britain’s new government is cutting business rates for pubs, clubs and live-music venues by 20%. The measure is intended to help struggling hospitality businesses and is expected to benefit nearly 32,000 venues, although restaurants and hotels say they have been unfairly left out.
Scotland continues to face wildfire concerns, including fires in the Cairngorms and around Arthur’s Seat in Edinburgh, although this is a continuing rather than entirely new story.
Germany
Germany’s governing conservatives are reshuffling their parliamentary leadership. Thorsten Frei, a close ally of Chancellor Friedrich Merz, is expected to take over the CDU/CSU parliamentary faction following Jens Spahn’s resignation during a controversy over surrogacy.
The episode has also sparked a broader debate in Germany about the country’s ban on surrogacy and tensions between private family decisions and conservative party policy.
Latin America
Mexico — Inflation continues to slow
Mexico’s annual inflation rate fell to 3.10% in early July, its eighth consecutive half-month decline. Core inflation also moved back within the central bank’s target range, potentially giving policymakers more room in future interest-rate decisions.
Middle East
Iran — U.S. strikes continue for a 12th consecutive night
The U.S. military says it has completed another round of strikes against Iranian targets, marking the 12th consecutive night of American attacks. The conflict remains one of the most consequential international developments because of the danger of wider regional escalation and disruption to shipping and energy supplies.
Houthi forces say they attacked two Saudi oil tankers near the Bab el-Mandeb Strait. That raises the possibility of a second major oil-shipping chokepoint being disrupted at the same time as the Strait of Hormuz.
Oil prices surged to six-week highs, with Brent approaching $99 a barrel as markets reacted to the widening risk to global energy supplies. Higher oil prices could feed directly into inflation in Europe, Asia and elsewhere.
The danger is no longer limited to one narrow shipping route. If both Hormuz and Bab el-Mandeb become difficult or dangerous for tankers, the effects could spread rapidly through global transportation, manufacturing and food prices.
A humanitarian tragedy off West Africa
More than 140 migrants and refugees are reported dead or missing after a boat carrying people from Africa ran out of fuel off Mauritania. Thirty-eight people were reportedly rescued.
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