ActiveInvestorMag.com: Great Powers

Brazil’s Lula and Flavio Bolsonaro head into Sunday’s runoff with polls near a tie

Fri, 23 Oct 2026 14:17:00 GMT

Foreign diplomats are discussing quick recognition of the winner, who will have to balance ties with China and the United States.

Brazil votes on Sunday in a presidential runoff between leftist incumbent Luiz Inácio Lula da Silva and right-wing Senator Flavio Bolsonaro. Flavio Bolsonaro is the son of former President Jair Bolsonaro. The two candidates were set to clash once more before the vote.

The polls give a mixed picture. Flavio Bolsonaro holds a small but narrowing lead over Lula in polls, while pollsters point to a technical tie. The race is deadlocked ahead of Sunday’s vote.

Foreign diplomats in Brazil are discussing quick recognition of the runoff winner. Many on the left are haunted by Jair Bolsonaro’s presidency from 2019 to 2022, and leftists have taken to social media and the streets to push for a Lula win.

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Indonesia plans a second panda bond of up to 10 billion yuan as it faces MSCI downgrade risk

Fri, 23 Oct 2026 14:17:00 GMT

Jakarta would return to China’s onshore debt market, possibly in November, after selling 7 billion yuan in its debut panda bond in July.

Indonesia is seeking to raise as much as 10 billion yuan, or $1.5 billion, through a panda bond sale. The sale would mark the country’s return to China’s onshore debt market. The bond could be sold in November.

A panda bond is yuan-denominated debt sold in China’s onshore market. Indonesia sold 7 billion yuan in its debut panda bond sale in July, and the new plan is a follow-up to that issue. “We have space to offer foreign currency bonds in the fourth quarter,” an Indonesian official said.

The planned offering of up to $1.5 billion is under consideration rather than final, according to the official’s account. The target of 10 billion yuan would be larger than the July debut.

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Republican senators and Downing Street rebuke Witkoff for calling Putin a ‘humanitarian’ as Russia strikes Kyiv

Fri, 23 Oct 2026 14:17:00 GMT

The backlash and a deadly Russian attack came as Putin said talks must focus on security for Russia, Ukraine and Europe as a whole.

US special envoy Steve Witkoff is facing bipartisan outrage in Congress after he praised Russian President Vladimir Putin as a humanitarian. Several Republicans, including Senators Thom Tillis, John Cornyn and Joni Ernst, joined the criticism. Senator Shaheen, the ranking member, compared Putin’s tactics to Hitler’s.

The British government on 22 October firmly rejected Witkoff’s description of Putin. Downing Street said Russia was responsible for the war. Television host Brian Kilmeade called the compliment “embarrassing” and said it made Witkoff look “naive”.

Witkoff told Putin during their meeting in St Petersburg: “You are a humanitarian … I salute that”. The praise came as Russia released a detained American whom Russian prosecutors had accused of fighting as a mercenary for Ukraine. Witkoff had landed in St Petersburg on Wednesday morning, a Kremlin aide confirmed, and met Putin in one of the city’s grand imperial palaces. Trump on Wednesday seconded his envoy’s description of Putin.

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Treasury proposes curbs on US investment in Chinese high-tech and biotech

Fri, 23 Oct 2026 14:17:00 GMT

The draft rule would add biotechnology to the outbound investment limits and covers Russia and North Korea alongside China.

The US Treasury has proposed a rule to crack down on high-tech investments in China and other adversaries. The proposed curbs cover high-tech investments in China, Russia and North Korea. The proposal would tighten the rules on investing in sensitive Chinese technology.

The proposal also adds biotechnology to the outbound investment restrictions. The Trump administration’s plan would put new curbs on China biotech deals. In a statement on the OISP plan, Treasury Secretary Scott Bessent said that “the biotechnology sector in countries of concern enables the military”. A document detailing the potential new rule records that Bessent made a determination about “the biotechnology sector in countries” of concern.

Bessent also said the rules would promote an “open investment environment” by providing clarity to investors in the United States and abroad. These are the Treasury’s own descriptions of the rule’s purpose and effect; the proposal has not yet been finalised.

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US embassy accuses Canada of election meddling, and Ottawa tells its diplomats to avoid midterm candidates

Fri, 23 Oct 2026 14:17:00 GMT

The embassy cited Canada’s targeted retaliatory tariffs as evidence of influence; Prime Minister Mark Carney says Canada is not getting involved.

The US Embassy in Canada accused Canadian leaders of “openly” describing plans to “influence American politics”. The accusation doubled down on Ambassador Pete Hoekstra’s claims of potential election interference. The embassy set out its case in a fact sheet released on Wednesday.

The embassy cited Canada’s targeted tariffs as part of the influence accusations, along with remarks from Industry Minister Mélanie Joly. It accused Canada of brushing off the allegations. The administration also shared a list of Canadians as part of its claims. The US has formally accused Canada of election interference ahead of the midterms, adding a political dispute to the two governments’ fight over trade.

Canadian diplomats based in the US have been advised to avoid appearing with midterm candidates. People familiar with the matter said the diplomats were barred from being in the same room as candidates. The advice came after trade adviser Peter Navarro and Hoekstra issued warnings to Canada. Canada warned its diplomats to avoid US candidates after the Trump administration’s interference claims.

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Commerce plans up to $389 million of CHIPS awards for power semiconductors and critical materials

Thu, 22 Oct 2026 21:17:00 GMT

Letters of intent with four companies follow 19 earlier research grants, and Commonwealth Fusion Systems has signed one worth $85 million.

The Commerce Department announced letters of intent with four companies for $389 million of research and development awards. The funds are aimed at power semiconductors and critical materials. The awards are being made under the CHIPS and Science Act.

Commonwealth Fusion Systems signed an $85 million letter of intent with the department. The four proposed awards follow 19 semiconductor research and development grants. One account rounded the package to $400M of semiconductor research funding. Another described it as a plan for up to $389M for power semiconductors under the CHIPS Act.

Commerce Secretary Howard Lutnick said the awards will “accelerate American semiconductor innovation to enhance our domestic energy” and power resources. “These investments expand domestic research, secure critical supply chains, and create high-paying American jobs,” he said.

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Netanyahu tells Israel’s military the US and Israel must topple Iran’s regime

Thu, 22 Oct 2026 21:17:00 GMT

Speaking at an officer graduation ceremony, the Israeli prime minister ordered the army and Mossad to pursue the overthrow of Iran’s leadership, according to accounts of the speech.

Israeli Prime Minister Benjamin Netanyahu said the United States and Israel must topple the Iranian regime. He spoke at an Israel Defense Forces officer graduation ceremony on Wednesday night. He delivered the message to the military’s newly graduating officers.

Netanyahu ordered the IDF and the Mossad intelligence agency to pursue the overthrow of the Iranian regime. He was talking about taking down the regime, not only about pressure on Iran.

In the speech he targeted Iranian Supreme Leader Mojtaba Khamenei, who succeeded his father after Ali Khamenei was killed in an Israeli strike on 28 February. Netanyahu said that Khamenei had made a decision about the course he would follow.

Netanyahu has also been pressing President Donald Trump to resume strikes against Iran, as both leaders contend with poor polling ahead of critical elections.

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Seven vessels hit near Hormuz, Iran’s Guards say, as they threaten US bases over tanker escorts

Thu, 22 Oct 2026 14:18:00 GMT

Iran’s Revolutionary Guards claimed strikes and mine hits on seven ships overnight and warned Washington of a wider response, even as Gulf oil exports run above their pre-war level.

Iran’s Islamic Revolutionary Guard Corps Navy said on Thursday that four vessels it accused of illegal oil transfers were hit simultaneously and caught fire. The Guards said they struck the four ships while they were transferring oil ship to ship in the northern Persian Gulf, and that three more vessels struck mines. Iran’s government put the total at seven oil tankers on fire or damaged in the Strait of Hormuz.

Iranian state television reported that the seven tankers were either struck by attacks or hit naval mines. Other accounts say the ships caught fire or were damaged overnight after being hit by Iran or striking naval mines. The Guards described the ships as “violating” vessels.

The Guards also threatened to strike American bases across the Middle East if the US military continues to escort ships through Hormuz. They warned the United States of a wider response.

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US and Israel plan renewed Iran strikes after the midterms as Washington pulls diplomats from Saudi Arabia

Thu, 22 Oct 2026 14:18:00 GMT

Plans for a post-election air campaign, embassy drawdowns in the Gulf and a large Israeli sortie toward Iran’s border point to rising odds that the war resumes after 3 November.

The United States and Israel have drawn up plans for renewed strikes on Iran after the elections. The planning is aimed at the period after 3 November, when the US midterms take place. The campaign under discussion has been described as massive. One account says interest was expressed in dropping the 22,000-pound GBU-43/B “Mother of all Bombs”. Separately, the United States and Israel are planning for a possible attack on Iran, a source said.

At the same time, Washington ordered some diplomats to leave Saudi Arabia as Houthi attacks escalate. US embassy staff and their families have been told to leave. US troops and diplomats are also evacuating posts elsewhere in the Middle East, according to sources.

Some of President Trump’s advisers, including Defense Secretary Pete Hegseth, have been privately advocating a resumption of military operations against Iran. Hegseth met Israeli Prime Minister Benjamin Netanyahu during an unannounced visit to Israel.

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The Kremlin says Putin will rejoin peace talks after 10 November and China is readying a summit with Trump and Xi

Wed, 21 Oct 2026 21:18:00 GMT

Moscow put a date on a return to negotiations with Ukraine and Washington, while saying Beijing is preparing a possible three-leader meeting next month.

Putin has agreed to resume three-way peace talks with Ukraine and the United States after 10 November, according to the Kremlin.

Russia said it was ready to return to talks to end the war after Putin met Steve Witkoff, President Donald Trump’s special envoy, in St Petersburg. The meeting was the one at which Russia freed the American teacher Stephen Hubbard.

Ushakov, speaking for the Kremlin, said separately that preparations were under way for a possible trilateral meeting between Putin, Trump and Chinese President Xi Jinping.

The Kremlin said China is preparing for such a meeting. Putin and Xi are expected to hold a bilateral meeting at the APEC summit in Shenzhen on 18 to 19 November. The proposed three-way meeting has been described as “the first such meeting in history”.

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China moves to tighten control over exports of its top AI models

Wed, 21 Oct 2026 14:16:00 GMT

Beijing has put draft export controls on 23 AI-related technologies out for consultation, including open-weight models and AI agents, as it protests Washington’s DeepSeek ban.

Beijing is moving to tighten its grip on the global spread of China’s top-tier artificial intelligence. On 16 October, the Ministries of Commerce and of Science and Technology put export controls on AI out for consultation until 15 November.

China has proposed draft export controls covering 23 AI-related technologies. The plans would tighten controls on open-weight models as well as on 23 key AI technologies.

The government released proposed export controls covering advanced AI, including AI agents. They came out on the same day that Tencent responded to an incident involving a rogue AI.

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Gulf oil flows top their pre-war level even as new Hormuz attacks lift prices

Wed, 21 Oct 2026 14:16:00 GMT

More than 24 million barrels a day left the region through Hormuz and other routes in the week to 18 October, but attacks on ships and soaring freight costs kept crude rising.

More oil is now coming out of the Persian Gulf than before the Iran war. Flows through the Strait of Hormuz and alternative export routes averaged more than 24 million barrels a day in the week through 18 October, above the pre-war level.

Prices rose anyway. Oil advanced as attacks in the Strait of Hormuz continued to menace global supplies, though flows through the waterway remain robust. Oil prices also rose as Hormuz shipping risks persisted.

The latest incidents were attacks on a tanker near the strait and on Saudi Arabian facilities by Iran-backed Houthis. Traders were assessing those developments as prices climbed.

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Russia frees an American as Putin hosts Witkoff, who asks to restart three-way Ukraine talks

Wed, 21 Oct 2026 14:16:00 GMT

Washington’s envoy presented an updated peace proposal in St Petersburg, while Putin floated a meeting with Trump in China and offered help on Iran.

White House envoy Steve Witkoff on Wednesday asked Russian President Vladimir Putin to allow the resumption of trilateral peace talks between Russia, Ukraine and the US. He presented Putin with an updated proposal to end the war in Ukraine during their meeting in St Petersburg.

Before the meeting, Russia released US citizen Stephen Hubbard, 74, who had spent more than four years in captivity after being seized by Russian troops. Putin ordered the release of the jailed American as he met the envoy. President Trump later said the former teacher was “on his way back home” and that “there was no ‘swap’ necessary”.

The talks were a fresh drive to end the war in Ukraine. Witkoff hailed the Russian leader as a “humanitarian” during the talks.

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Britain sends Typhoon jets to help defend Saudi Arabia from Houthi attacks

Tue, 20 Oct 2026 21:17:00 GMT

London says the aircraft will protect Saudi cities and critical infrastructure, widening Western involvement in a war that is spreading across the Gulf.

The United Kingdom will deploy an undisclosed number of RAF Typhoon jets to protect Saudi population centres and critical infrastructure from Houthi attacks. The British government announced the decision on Tuesday. The jets will fly defensive air missions over Saudi Arabia.

British Defence Secretary Wes Streeting said the deployment aims to support the protection of Saudi cities and critical infrastructure from aerial attack. Tuesday’s statement about defending against Houthi attacks sits alongside a British posture framed around the Strait of Hormuz and around preventing attacks on British interests or British allies in the region.

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Iran tells Pakistan’s army chief there will be no talks with Washington until its demands are met

Tue, 20 Oct 2026 21:17:00 GMT

Tehran says its enriched nuclear material stays at home, and officials say they are stretching out the stalemate to weigh on the US midterm elections.

Iran has told Pakistan’s army chief that there will be no talks with Washington until its demands are met, according to Iranian media. Iranian official Rezaei also said all enriched nuclear materials would remain in Iran, reiterating the position of Supreme Leader Ayatollah Mojtaba Khamenei.

Separately, Iranian officials said Tehran is prolonging talks in a stalemate to influence the US midterm elections. Iranian officials said Iran is stalling on a deal with the United States to hurt President Donald Trump politically ahead of the vote. Iran can exploit Trump’s political problems, the officials argued.

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The EU’s new Arctic strategy declares the region a front line as Russia and Washington press

Tue, 20 Oct 2026 21:17:00 GMT

Brussels plans shared icebreakers, military rail and a cable linking Greenland to Europe, after Moscow’s build-up and Washington’s designs on the island.

The European Union unveiled a new Arctic strategy as geopolitical tensions rise in the region. The strategy declares the Arctic a front line and eyes shared icebreakers and military rail. It sets up a Northern Neighbourhood framework for cooperation with Norway, Iceland, Canada, the UK and the US, as well as Greenland and the Faroe Islands.

The European Commission said the EU will back a strategic pan-Arctic fibre-optic telecommunications cable project linking Greenland directly to Europe. The new strategy says the bloc will continue working with Canada and Greenland.

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Washington bars DeepSeek from federal IT systems and Beijing objects

Tue, 20 Oct 2026 21:17:00 GMT

A Homeland Security order removes the Chinese AI model from most government agencies; China says the ban disregards the consensus between the two countries.

The Department of Homeland Security has blocked China-based DeepSeek from federal IT systems. The Chinese technology is being removed from most US government agencies as the race for AI dominance steps up. The order directed every federal agency to purge DeepSeek; it was signed by Secretary of Homeland Security Markwayne Mullin on 24 July 2026, with a courtesy copy to budget director Russell Vought.

China said the US ban on DeepSeek from government IT systems disregards the consensus between the two countries. In Beijing, Foreign Ministry spokesperson Mao Ning defended the company.

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ByteDance, Alibaba and Tencent place more than $35 billion of Nvidia chip orders

Tue, 20 Oct 2026 14:18:00 GMT

The Reuters report lands as chip stocks recover from a nine-day slide and as Washington argues over how tightly to police AI technology bound for China.

ByteDance, Alibaba and Tencent have placed more than $35 billion worth of Nvidia chip orders, Reuters reported in an exclusive. Reuters described the chip involved as among the most powerful of Nvidia’s AI processors.

Reuters quoted a statement that “US firms continue to be restricted by a combination of outdated US export controls”. The export controls in question are overseen by the US Commerce Department’s Bureau of Industry and Security.

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Iran’s Guards say their mines halted and set ablaze two tankers south of Hormuz

Tue, 20 Oct 2026 14:18:00 GMT

The Revolutionary Guards said the ships used routes Tehran considers illegal, as US crude jumped and Washington maintained that Gulf flows were recovering.

Iran’s Islamic Revolutionary Guard Corps said on Tuesday that its naval mines halted two tankers attempting to pass through the Strait of Hormuz. According to the Guards’ navy, the two ships were set ablaze and brought to a halt south of the strait after hitting Iranian mines. Xinhua, China’s state news agency, quoted the IRGC as describing the vessels as “violating” oil tankers that caught fire after striking naval mines.

The Guards said the tankers had been travelling via routes they consider illegal. Every outlet carrying the report attributes it to the IRGC itself, and none of these accounts names the ships, their owners or any casualties.

The IRGC also said it destroyed a US MQ-9 drone over the strait, while Sabereen reported that explosions were heard in Bandar Abbas. The Guards warned that if what they called provocative actions by the American regime continue, oil companies will have to pay a bigger price. Separately, TradeWinds reported that Iran has extended its Strait of Hormuz blacklist to 120 ships, including vessels that have already been sunk.

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RTX and Northrop raise their 2026 forecasts on record backlogs

Tue, 20 Oct 2026 14:18:00 GMT

Both contractors credited rising US and allied military spending, even as defence shares have retreated and Congress argues over new Pentagon money.

RTX raised its 2026 forecasts as aerospace and defence demand drove a record backlog, Reuters reported. The company cited growing demand for aircraft engines and parts and sustained military spending amid heightened geopolitical tensions. In its third-quarter results release, RTX said demand for its products remains robust.

Northrop Grumman lifted its 2026 profit forecast on strong defence demand and a record backlog, Reuters reported. Northrop, which makes the B-21 Raider bomber and parts for the F-35 fighter jet, has been benefiting from rising US and allied military spending amid heightened geopolitical tensions. Northrop’s management said it was “confident” in the company’s “new record backlog, well-positioned portfolio and investments”, in remarks carried by KFGO.

Yahoo Finance reported that both contractors came out with strong third-quarter earnings results and raised their annual profit outlooks. The same report asked whether US rearmament will trigger a surge in defence spending.

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Witkoff heads to Oslo for talks with Zelensky and hopes to see Putin next

Tue, 20 Oct 2026 14:18:00 GMT

Trump’s envoys are meeting Ukraine’s president and European leaders in Norway, as Rubio tries to reassure Kyiv that Washington has not turned against it.

White House envoy Steve Witkoff is travelling to Oslo for talks on Tuesday with Ukrainian President Volodymyr Zelensky and European leaders, a US official told Axios. Jared Kushner, President Donald Trump’s son-in-law, is also expected to travel to Norway to meet Zelensky, the Financial Times reported. Ukrinform, citing Reuters, said the two men plan a new round of talks on ending the war.

Anadolu reported, citing local media, that the Oslo talks are expected to include the Norwegian prime minister and representatives of the E4, the EU and NATO alongside Zelensky. After Oslo, Witkoff hopes to visit Russia and meet President Vladimir Putin, according to an Axios reporter cited by APA. Firstpost described the Oslo meeting as a step to prepare a proposal for Putin.

Separately, Secretary of State Marco Rubio told Zelensky in a phone call on Tuesday that Trump has not issued any kind of order to harm Ukraine, Axios reported.

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Araqchi blames Washington for Hormuz insecurity with Lavrov standing beside him in Tehran

Mon, 19 Oct 2026 21:20:00 GMT

Iran’s foreign minister used a joint news conference with his Russian counterpart to put responsibility for the strait on the United States while repeating an offer to reopen it.

Iran’s foreign minister Abbas Araqchi blamed the United States for insecurity and tensions in the Strait of Hormuz, speaking at a joint news conference with Russian Foreign Minister Sergei Lavrov on Monday. Reuters reported that he called for diplomacy at the same appearance. The Times of Israel reported that Iran’s top diplomat accused the United States of being responsible for the insecurity in the strait, which has been at the heart of the conflict. These are the Iranian government’s assertions about responsibility, not established findings.

Araqchi told Iranian media that Iran’s offer to the United States to reopen the strait within seven days is still on the table. He also called for regional dialogue. Araqchi met his Russian counterpart in Tehran, where Lavrov discussed the war with the United States and regional security. Prensa Latina reported calls for Washington-Tehran talks to reopen the strait and for restoring security and freedom of navigation.

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China’s central bank moves toward an overnight policy rate and a backstop for bond redemptions

Mon, 19 Oct 2026 21:20:00 GMT

The People’s Bank of China governor used the Financial Street Forum to sketch a new policy benchmark, a liquidity facility for fund redemptions and further market opening.

The People’s Bank of China will study the possibility of switching its main policy benchmark to an overnight rate, Governor Pan Gongsheng said, a change the central bank says would make its guidance more precise. Reports of the governor’s remarks say the central bank is studying making the overnight rate its main policy rate. Central banks such as the US Federal Reserve already use overnight rates as their main policy rates to better anchor the yield curve.

Pan also said the central bank plans a liquidity backstop for the bond market. Caixin reported that the mechanism will be added to the PBOC’s macroprudential toolkit and is intended to prevent a cycle in which investor redemptions force sales. State broadcaster CGTN reported that China will introduce a liquidity support facility to help non-bank financial institutions cope with large-scale redemptions. Pan was speaking at the 2026 Financial Street Forum annual conference, where financial regulators announced a set of measures.

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Trump says he would join Xi and Putin in China, and wants nuclear weapons on the agenda

Mon, 19 Oct 2026 21:20:00 GMT

The president answered a Kremlin proposal by saying he is open to a three-way meeting next month, with denuclearisation rather than Ukraine as the stated subject.

President Donald Trump said on Monday that he is open to a three-way meeting with China’s Xi Jinping and Russia’s Vladimir Putin, and that it could be focused on denuclearization. He said the United States has more nuclear weapons than anybody, that Russia is second and China is third. Axios reported that Trump wants to hold the trilateral summit in China next month to discuss denuclearization, but not necessarily Ukraine. RFI reported that he indicated he is ready to meet both leaders in China next month.

The Kremlin said the three could hold a meeting on the sidelines of next month’s Asia-Pacific Economic Cooperation summit in China. Trump is expected to travel to China in mid-November for the APEC leaders’ meeting in the city of Shenzhen. The Kremlin had been floating the idea before his answer. In the same remarks, Trump criticised Ukraine’s president.

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China puts tunnel boring machines and more drones under export control

Mon, 19 Oct 2026 14:22:00 GMT

Beijing moved from consultation to binding restrictions on Monday, citing national security.

China’s commerce ministry said on Monday it would set export controls on tunnel boring machines. Nikkei Asia reported the same decision and described the equipment as a key piece of machinery for infrastructure work. CGTN reported that China had decided to impose controls on items including tunnel boring machines and to adjust its export control measures on dredger-related equipment.

The restrictions go wider than one machine. Bloomberg reported that China is imposing export controls on more drones and industrial machinery, and Quartz reported that Beijing is tightening controls on drones and tunnel boring machines together. MLex reported that revised controls on dredging equipment take effect from 18 November under a joint announcement by the Ministry of Commerce and the General Administration of Customs.

The ministry cited national security, and The Hindu reported that the machines covered are equipment sought by India. Those are the Chinese government’s stated grounds rather than an independently verified rationale.

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Lula and Bolsonaro trade barbs in Brazil’s first election debate

Mon, 19 Oct 2026 14:22:00 GMT

Latin American currencies were mixed as a tight race kept investors on edge.

Brazil’s left-wing president, Luiz Inacio Lula da Silva, and his right-wing challenger faced each other in an election debate, trading barbs through the encounter. AFP reported that the two went into the first debate showdown of a bitter election race after a day of energetic rallies by their supporters.

The meeting happened because the arithmetic forced it. Semafor reported that Lula had avoided debating Flavio Bolsonaro, but that the challenger’s first-round victory put the president on the back foot. The debate was therefore the incumbent’s response to a result rather than a scheduled set piece, which is why the exchange mattered more than the usual campaign television.

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Manila summons China’s ambassador over remarks on the use of force

Mon, 19 Oct 2026 14:22:00 GMT

The Philippine foreign secretary protested comments her government called a threat, while both sides said they wanted to keep economic ties intact.

The Philippines summoned China’s ambassador over remarks Manila said conveyed a threat. Bloomberg reported that the country’s top diplomat called in the envoy to protest his comments on the use of force amid the two countries’ maritime dispute in the South China Sea. ABC News reported that Foreign Secretary Ma. Theresa Lazaro relayed to Ambassador Jing Quan the Philippine government’s serious concern.

The comments at issue were about the balance of military power. China Global South reported that the ambassador had said Beijing could easily win a conflict. Rappler reported that Lazaro told him it was not his place to taunt Philippine officials. TRT World reported that Manila called the remarks provocative and unacceptable, while the ambassador said the South China Sea dispute should not define the overall relationship.

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Oil slips from a five-month high as Washington eases Russian curbs

Mon, 19 Oct 2026 14:22:00 GMT

Iranian officials told the Washington Post their government wants prices painful through the US midterms.

Crude retreated from a five-month high, with transits through the Strait of Hormuz the focus of the market. The trigger was supply rather than demand: prices slipped after President Trump waived sanctions in a move that may lead to more Russian fuel exports, and Aaj English reported the fall from a five-month high as the United States eased its Russia curbs.

The Business Times reported that oil fell from the five-month high because supply had stayed intact despite the fighting. The floor under the market has not gone, however. A UBS analyst told Reuters that “ongoing strikes on vessels crossing the Strait of Hormuz and flows remaining below pre-conflict levels continue to provide support”.

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Putin asks for a summit with Trump and Xi on Ukraine, with Zelensky left out

Mon, 19 Oct 2026 14:22:00 GMT

The Kremlin said the three leaders could meet in China next month, and Kyiv said the format would reward Moscow.

The Wall Street Journal reported that Vladimir Putin has proposed that he, President Trump and Xi Jinping meet next month to talk about Ukraine and negotiate an end to the war favourable to Moscow. Politico reported that Russia is exploring such a summit on a Ukraine deal, and the Telegraph said Putin has proposed a meeting with Trump and Xi to negotiate the future of Ukraine.

The Kremlin then confirmed the possibility in public. It said on Monday that Putin, Trump and Xi could hold a three-way meeting in China next month. The Kremlin also suggested the three presidents could meet at an upcoming Asia-Pacific summit in China. These are Russian government statements about Russian intentions, and Washington has not announced any such meeting.

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Allied governments break publicly with Washington over the Russian diesel waiver

Sun, 18 Oct 2026 21:20:00 GMT

London says it takes a different view, Ottawa’s former finance minister accuses the president of siding with Moscow, and Paris warns about trust.

The United Kingdom has signalled a different view from President Donald Trump on Russia sanctions, Bloomberg reported, saying the government of Prime Minister Andy Burnham disagrees with Washington. Yvette Cooper said the UK takes a different view to Trump on Ukraine, days after he halted a package of sanctions on Russia, the Daily Mirror reported.

In Canada, Chrystia Freeland said Trump is siding with a bloody dictator in President Vladimir Putin while undermining the Ukrainian president, Volodymyr Zelenskyy, in an interview with CBC.

The French president, Emmanuel Macron, warned that Trump’s approach to Russia, and a deal involving Putin, risks trust while the war continues. Le Monde reported the waiver as Trump exempting Russia from new sanctions at a time when Moscow is targeting Ukrainian energy infrastructure.

None of the three governments has said it will reverse a measure of its own. What they have done is decline to endorse the American one, in public, within days of it taking effect.

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Bessent says Europe refused Washington’s request to tariff India and China over Russian oil

Sun, 18 Oct 2026 21:20:00 GMT

The treasury secretary used a Sunday television interview to disclose that allied governments declined to join a secondary-tariff push.

Treasury Secretary Scott Bessent said European countries refused a request from Washington to impose secondary tariffs on India and China for buying Russian oil, according to reports of his Sunday interview. Open Magazine carried the same account, saying European allies had declined the request, and ANI quoted the secretary directly as saying that Washington asked European allies to put secondary tariffs on India and China for buying Russian oil and that they refused.

The disclosure came in an interview with NBC’s Meet the Press with Kristen Welker, in which Bessent also told the programme that the administration will own the economy, Barron’s reported.

This is the administration’s own account of private diplomacy, and no European government is quoted confirming it in the reporting available.

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Trump publicly endorses Netanyahu nine days before Israel’s election

Sun, 18 Oct 2026 21:20:00 GMT

Axios reports it as the first explicit public endorsement by a US president of a candidate in an Israeli election.

President Donald Trump endorsed the Israeli prime minister, Benjamin Netanyahu, on Sunday, nine days before Israel’s elections on 27 October, Axios reported. In a post on Truth Social the president called Netanyahu a great warrior prime minister and a great partner. Axios said it is the first time in the history of US-Israeli relations that a US president has explicitly and publicly endorsed a candidate in an Israeli election.

The timing is the point. Axios reported that most polls show Netanyahu’s coalition falling short of the 61 seats needed to form a government, and that the intervention could give him a boost at a critical moment in his fight for political survival.

Iran International reported that Trump also threatened to finish the job against Iran as he made the endorsement. Israel joined the United States in launching co-ordinated strikes across Iran on 28 February, killing the supreme leader, Ayatollah Ali Khamenei, The National reported. Iran’s new supreme leader, Mojtaba Khamenei, may take a different position on nuclear policy, according to Iran International.

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A press secretary lasts five days, and Trump denies hunting for a new chief of staff

Sun, 18 Oct 2026 14:23:00 GMT

Katie Zacharia was pushed out on Friday, and reports that Susie Wiles could be replaced drew a flat denial from the president.

White House press secretary Katie Zacharia was ousted on Friday after five days in the job, Axios reported, citing two senior administration officials. Axios said she will be the shortest-tenured press secretary in modern history, and that her only week in the building was dominated by questions about her legal credentials and criticism of her first briefing. The Financial Times said she took just three questions from the media during the five-day stint before what it called her abrupt defenestration.

Trump told reporters on Friday that he had urged her to “reconsider” the role, saying: “The news has been so nasty to her. I’ve never seen anything like it actually”. A White House statement quoted by Axios said the president remains “a big fan” of her. An administration official told Semafor she would be “transitioning out”, and one report says she was speaking to a Wall Street Journal reporter on Friday when the senior adviser Stephen Miller intervened.

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Beijing’s draft export curbs now reach the solar supply chain

Sun, 18 Oct 2026 14:23:00 GMT

China’s commerce ministry has proposed controls on 12 solar manufacturing technologies, part of a draft list of 40.

China has proposed export controls on 12 technologies used to make solar equipment, Reuters reported from Beijing, citing the commerce ministry. The solar items sit in the same proposal as artificial intelligence and biotechnology, and the ministry proposed adding them to its control list. The report was carried through Sunday by outlets across Asia and the Gulf.

Taken together, the draft would limit exports of 40 key technologies, including AI and solar. Of those, 23 are tied to AI models and agents, and chip technologies are also covered. Beijing says the measures are necessary to strengthen security, prevent misuse and keep AI under human control. That is the ministry’s stated rationale; the reporting does not establish what the controls would do to supply.

The AI portion of the draft was reported first, by the Wall Street Journal a day earlier, according to Yahoo Finance’s account of the solar additions. The ministry has already imposed export controls on rare earths.

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China’s central bank governor backs tighter IMF scrutiny of rich-country budgets

Sun, 18 Oct 2026 14:23:00 GMT

Pan Gongsheng told the IMF’s steering committee he supports closer surveillance of fiscal and spillover risks, while pledging wider access to China’s markets.

Pan Gongsheng, governor of the People’s Bank of China, said he supports closer International Monetary Fund surveillance of fiscal and spillover risks, Reuters reported. He was addressing the International Monetary and Financial Committee, the Fund’s steering body, during the annual meetings. One account summarised the position as China backing the Fund’s scrutiny of fiscal risks in major advanced economies.

Reuters identified the speaker as the PBOC governor, pictured at a press conference in Beijing in September 2024. The remarks are Beijing’s stated position at a multilateral meeting; the reports do not record how other members responded, or name the economies Pan had in mind.

The surveillance Pan endorsed is the Fund’s regular assessment of member economies, including their budget positions and the effects those positions have beyond their borders.

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Rubio puts a 60-day clock on the Russia sanctions Trump set aside

Sun, 18 Oct 2026 14:23:00 GMT

The secretary of state says the waiver is a pause to analyse the economic impact, while House Republicans threaten defence money over it.

Secretary of State Marco Rubio said on Saturday that President Donald Trump’s decision to waive sanctions and tariffs on Russia would last 60 days, France 24 reported. Reuters reported that Trump will take up to 60 days to weigh the measures, and the Guardian described the move as a “60-day pause” to analyse the economic impact. Rubio said the purpose is to analyse the effect on the global economy, according to CGTN’s account.

India Today reported that Rubio said the president will use the 60 days to assess both sanctions and tariffs. Rubio also said secondary sanctions and tariffs would hit global markets and the domestic US economy, and set out India’s position in the same remarks, according to one summary. These are the administration’s stated reasons; none of the reports here tests them against the measures’ likely effect.

The order was signed on 16 October, waiving mandatory trade duties and secondary sanctions 48 hours before their statutory implementation date of Sunday 18 October, the Kyiv Post reported. The underlying authority came from Congress, which passed a bill granting the president tariff powers against Russia.

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Tehran says its offer to reopen Hormuz in seven days is still on the table

Sun, 18 Oct 2026 14:23:00 GMT

Iran’s foreign minister wants conditions met and guarantees against new attacks; the US war secretary answers with an ultimatum.

Iran’s offer to the United States to reopen the Strait of Hormuz within seven days remains on the table, Foreign Minister Abbas Araqchi said, according to Reuters and The New Arab. Arab News reported that Iran has proposed reopening the strait if Washington agrees to specific conditions, and that acceptance could also restart talks between the two governments.

Tehran has attached a further requirement: renewed talks would need “credible guarantees” against new attacks, Anadolu reported. An Iranian army spokesperson put it more bluntly, saying the strait will reopen “if America leaves the region”. These are Iran’s own terms as relayed by its officials, and the reports do not establish that it can or will deliver a reopening on them.

The offer follows the mining of a second supertanker in the strait, announced by Iran’s Revolutionary Guards. In the same period Dubai officials said a drone impact had started a fire near the emirate, according to a live report of the conflict.

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A second tanker is mined in Hormuz, and Central Command says almost all shipping still clears the strait

Sat, 17 Oct 2026 21:20:00 GMT

Iran’s Revolutionary Guards reported a second supertanker ablaze on Saturday, while the US military published transit figures that contradict Tehran’s closure claim.

Iran’s Revolutionary Guards Navy said on Saturday that two oil tankers had caught fire after hitting naval mines while crossing the Strait of Hormuz. The Guards’ navy announced that the second vessel, which it called a “violating” supertanker, had exploded after striking a mine. Iranian state media said both tankers were carrying about 2 million barrels of crude oil, according to the official news agency IRNA. An earlier mined supertanker was reported burning in the same waterway a day before.

The Guards said the second tanker had disabled its tracking equipment at the US military’s instigation before it hit the mine. That account comes from the Guards themselves and is not corroborated elsewhere in these reports. The Guards’ navy also repeated a warning to all maritime traffic that the strait “remains closed in accordance with Iran’s sovereign decisions”. Turkey’s foreign minister called for free navigation through the waterway.

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Central Command says its blockade has cost Iran $25 billion in oil sales and left the Guards unable to pay troops

Sat, 17 Oct 2026 21:20:00 GMT

Admiral Brad Cooper said Iran-aligned militias are now sending money back to the Revolutionary Guards instead of receiving it.

US Central Command’s commander, Adm. Brad Cooper, said on Friday that Iran-backed militias in the region have been sending money back to the Islamic Revolutionary Guard Corps to relieve the economic pressure the Guards are under after nine months of war. The command said the US naval blockade has blocked $25 billion in Iranian oil exports and claims control of the Strait of Hormuz. Cooper put the same revenue figure on the record, saying the blockade had cost Iran $25 billion in oil income.

Cooper said the financial strain on Iran’s military has become significant enough that there are reports of Iran-aligned militia groups across the region withholding the salaries and dues of their own members. Where those groups were traditionally funded by the Guards, the US now believes the flow has reversed and they are sending money back to Tehran. Every one of these figures and claims comes from the US military; none is independently verified in the reporting available here, and Iran has not confirmed them.

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Republicans and Democrats both call the Russia sanctions waiver irresponsible as Zelensky says Putin feels joy

Sat, 17 Oct 2026 21:20:00 GMT

Senior lawmakers from both parties condemned the executive order on Saturday, and Ukraine’s president said the decision rewards Moscow.

Top Republicans and Democrats alike lined up on Saturday to condemn President Trump’s decision to waive recent sanctions on Russia, calling it “irresponsible” and “a deal with the devil”. Politico reported that the decision has left some of the party’s longest-standing Russia hawks at odds with the president. The order, signed late on Friday night, waives implementation of the Lindsey O. Graham Sanctioning Russia and Iran Act, which Trump himself signed in September. ABC News reported it was the second time in as many weeks that he has waived sanctions on Russia.

Axios noted that Trump already faces a bipartisan effort to overturn his Russian diesel deal when Congress returns after the election, and that he may now face broader anger over sanctions the legislature approved only a month ago.

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A supertanker burns in the Strait of Hormuz after hitting a mine, and Iran’s Guards call the waterway closed

Sat, 17 Oct 2026 14:21:00 GMT

Iran’s Revolutionary Guard Corps says a tanker carrying more than two million barrels exploded on a naval mine and declared the strait shut; US Central Command says it is open.

Iran’s Revolutionary Guard Corps said on Saturday that an oil tanker exploded and caught fire after hitting a naval mine while transiting the Strait of Hormuz. The statement was shared through Iranian state media. Anadolu reported the Guards’ account that the supertanker was carrying over two million barrels of crude when the explosion set it alight. Xinhua reported the IRGC navy describing the ship as a “violating” supertanker.

The Guards then went further than the incident itself. “The Strait of Hormuz is closed,” the IRGC Navy declared, warning of consequences for vessels that defy Iranian regulations there. It warned all vessels against using the waterway, saying the strait remained closed under Iran’s sovereign decisions. US Central Command rejects that account. CENTCOM insists the strait remains open for passage, has called the Guards’ mine claim about the GFS Pride false, and says the ship sank under tow. CENTCOM also said about 400 merchant ships transited the strait over the past week.

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Iran is giving the Houthis targeting data for strikes on Saudi Arabia, the Wall Street Journal reports

Sat, 17 Oct 2026 14:21:00 GMT

The Journal reports that Tehran is supplying the intelligence behind Houthi attacks on the kingdom, while Iran’s foreign ministry denies any role.

Iran is giving the Houthis targeting and intelligence for attacks on Saudi Arabia, the Wall Street Journal reported. The Australian carried the same report, describing it as strategic cooperation between Tehran and the Yemeni group. Iran International and ANI relayed the account, which places the cooperation alongside Houthi advances near the Bab al-Mandeb strait.

Tehran denies it. “Iran does not interfere in Yemeni affairs,” the Iranian foreign ministry said. Roya News and NDTV reported the denial of Saudi accusations of involvement. The Jerusalem Post reported that despite the spokesman’s claim, members of Iran’s Islamic Revolutionary Guard Corps have commended the recent Houthi strikes on Saudi Arabia. Il Sole 24 Ore reported Iran stepping up training and tactical support for the militiamen, who have seized strategic positions on the Bab el-Mandeb strait.

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Taiwan moves to criminalise chip smuggling as Beijing’s draft export curbs reach 40 technologies

Sat, 17 Oct 2026 14:21:00 GMT

Beijing’s draft now spans 40 technologies and separates remote AI model access from overseas deployment, while Taipei prepares criminal penalties for unauthorised AI chip exports.

Taiwan is planning to add AI chips to the goods whose unauthorised export it treats as a crime, Export Compliance Daily reported. Semafor described the move as Taipei restricting China chip sales to appease the United States, and as a significant step in curtailing black-market sales to Chinese companies seeking to bypass US curbs. Barron’s covered the two tracks together: China moving to control AI technology exports while Taiwan cracks down on smuggling.

On the mainland side the draft has grown. Law360 reported that China will add 40 new products spanning AI and biotech to its export controls, and Export Compliance Daily put the figure at 40 “key” AI, biomedical and solar technologies that Beijing said will help address national security. XenoSpectrum reported that the draft treats AI programming-interface access differently from overseas deployment. China’s commerce ministry said the proposed controls would help AI governance and strike a better balance between innovation and security, according to China Daily Asia. Beijing had already proposed controls on AI technologies to safeguard a strategically critical industry amid intensifying competition, citing national security risks.

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Trump waives the Russia sanctions Congress passed, lifting the tariff threat from buyers of Russian oil

Sat, 17 Oct 2026 14:21:00 GMT

An executive order signed on Friday suspends the sanctions and tariffs that the Graham Act was about to impose on Russia and on the countries buying its energy.

President Donald Trump signed an executive order on Friday waiving a new package of sanctions and tariffs on Russia shortly before it was due to take effect. The White House published the order as an implementation of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, the law Trump signed last month. He cited the “national interests” of the United States as his reason for holding off. Al Jazeera put the timing at two days before the sanctions deadline and a week after his deal to let Russia sell diesel internationally.

The measures were meant to limit Russia’s revenue streams as its war against Ukraine continues. The Act also allowed secondary sanctions on goods from countries that bought Russian oil and gas, and the Economist reported that rather than follow through, Trump has held back. Accounts of the headline tariff differ. The Kyiv Post reported that the order blocks new 500% tariffs on Russian goods along with penalties on major oil buyers, while Zee News described the suspension of prospective 100% tariffs on Russian oil imports and of secondary sanctions on foreign buyers of Russian energy. Trump said he would not impose many of the measures due to take effect, thwarting Congress’s effort to aid Ukraine.

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China’s central bank pledges wider market access as Washington presses on card and bank entry

Fri, 16 Oct 2026 21:25:00 GMT

The People’s Bank of China said it will keep opening its financial markets to foreigners, on the same day a US Treasury delegation raised market access for Mastercard and Citigroup.

China’s central bank said it will further open the country’s financial markets to foreign investors, Reuters reported, quoting a People’s Bank of China statement that the country’s steady economic growth and the rapid development of its high-tech industries provide solid support for renminbi assets. UA.NEWS reported the same pledge, saying the central bank intends to continue opening its financial markets to foreign investors.

Governor Pan Gongsheng set out the detail at the Emerging Markets Conference on the sidelines of the annual meetings, saying the bank would expand market access and promote renminbi bonds as collateral, according to China Daily. Newsquawk reported Pan saying the central bank would support the development of offshore renminbi markets, and Forex Factory carried both the offshore pledge and the plan to promote renminbi bonds as globally accepted collateral.

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Ukraine resumes strikes on Russian refineries as the rift with Trump deepens

Fri, 16 Oct 2026 21:25:00 GMT

Kyiv has restarted attacks on Russian energy infrastructure after telling Washington it was finished with the diesel truce, and the White House denies disrupting its satellite service.

Ukraine is to restart strikes on Russian refineries, Semafor reported, noting that Washington had pressed President Volodymyr Zelenskyy to curb attacks on energy facilities and had linked them to rising fuel prices. Ukraine hit a Russian refinery as Zelenskyy said Kyiv was done with President Donald Trump’s energy truce, The Standard reported.

The pressure on Kyiv came from the top of the administration. RBC-Ukraine reported that Vice President JD Vance and the special envoys Steve Witkoff and Jared Kushner had repeatedly asked Zelenskyy to stop striking Russian oil refineries. Hromadske, citing Reuters, reported that Kushner and Witkoff criticised the continued refinery attacks at a meeting earlier this month.

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US crude tops $100 a barrel as Hormuz attacks mount

Fri, 16 Oct 2026 21:25:00 GMT

American crude broke above $100 on Friday and reached levels not seen in a month, while US Central Command said it has blocked $25 billion of Iranian oil exports.

US crude oil prices rose sharply on Friday and topped $100 a barrel as Iran escalated its attacks in the Strait of Hormuz during the week, CNBC reported. NBC News reported oil prices jumping to nearly $110 per barrel, with renewed attacks in the strait and growing doubts about a US-Russia diesel deal pushing crude to levels not seen in a month. Oilprice.com put the level lower, describing prices as stuck at $105 as geopolitical risks mount.

Yahoo Finance reported oil heading for a weekly gain with attention on Middle East supply, quoting the Saxo Bank analyst Ole Hansen saying conditions in the strait continue to underpin prices, and noting that WTI settled up more than 3% on Thursday. The background to the move is a run of attacks that has made October one of the most violent months in the strait since the war began.

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China proposes export controls on 23 AI technologies, including models and chip design

Fri, 16 Oct 2026 14:32:00 GMT

Beijing has put forward draft rules that would license exports of advanced artificial-intelligence models, AI agents and chip-design technology, and says the policy is not aimed at any country.

China proposed export controls on 23 artificial-intelligence technologies on Friday, among them technologies involving AI models and agents, Reuters reported. The Financial Times reported that the draft controls cover technologies used in areas including AI models, AI agents and chip design. The Next Web said the draft would restrict exports of the country’s advanced models and chip designs. The Verge reported that Beijing was considering adding 23 AI technologies to its export-control list, including chip-related entries.

The Wall Street Journal described the step as China considering new export controls on artificial-intelligence technologies in a bid to safeguard what it called a strategically critical industry, amid an intensifying contest over the sector. The Independent reported that the proposal reaches beyond AI to solar and biopharmaceutical technologies, and that Beijing said the policy was not aimed at targeting any country. That assurance is the Chinese government’s own account of its draft rather than an independent reading of what the list would do.

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Manila protests a Chinese envoy’s South China Sea remarks as a veiled threat of force

Fri, 16 Oct 2026 14:32:00 GMT

The Philippine government condemned comments by China’s ambassador in Manila, while Beijing’s defence ministry said it would act to deter what it called sabotage in the disputed waters.

President Ferdinand Marcos Jr and his government have condemned remarks by China’s ambassador to Manila, calling them a thinly veiled threat of force, the Associated Press reported. The comments were made on the sidelines of a Manila forum on Thursday, where Ambassador Jing Quan was asked by reporters to respond to a Philippine position, according to The Washington Post. Bloomberg reported that the Philippine president may summon the Chinese envoy over the veiled threat.

The Philippine News Agency, the state news agency, reported that the Department of Foreign Affairs flagged the envoy over a thinly veiled threat of force and cautioned all diplomats posted in the country. The Chinese embassy in Manila published its own account, saying the ambassador had attended the second Diliman Dialogues on Southeast Asian voices on relations between the regional bloc and China and on pathways to peace in the South China Sea. Separately, a Chinese defence ministry spokesperson said China would take effective measures to deter any sabotaging moves in the South China Sea, according to the ministry’s own release.

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Reported ship attacks near Hormuz reach a record high as oil exports slow

Fri, 16 Oct 2026 14:32:00 GMT

BBC Verify counted 12 vessels struck in a single week in data from a UK maritime agency, and US crude traded near $98 as traders weighed further supply disruption.

Reports of attacks on shipping near the Strait of Hormuz have reached a record high while oil exports slow, the BBC reported. BBC Verify’s analysis of data from a UK maritime agency shows 12 vessels were struck in a week. Iran’s Islamic Revolutionary Guard Corps published footage of what appeared to be one of the ships sinking and said the vessel was carrying cargo, according to the BBC’s account; that is the IRGC’s own claim about the target rather than an independent confirmation of it.

The New York Times published footage showing small boats gathered around floating shipping containers after a Singapore-flagged cargo ship sank near the strait. CNBC reported that US crude oil prices rose on Thursday as traders assessed potential supply disruptions following attacks on ships passing through the strait, with US crude near $98. Interactive Brokers reported that WTI rose to $96.13 while Brent slipped to $105, as September producer prices posted their biggest monthly jump since March 2022 and Treasury yields eased.

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