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Iranian forces launched attacks on US military targets in Gulf states, including Bahrain and Kuwait, in retaliation for American strikes, straining a three-week-old ceasefire. Iran also buried its late Supreme Leader Ayatollah Ali Khamenei, while Israel's defence minister warned it could resume its campaign against Iran. US President Donald Trump said he believed the ceasefire was over.
A fire at a shoe factory in Jinjiang, Fujian province, killed at least 28 people, with more feared trapped. Authorities dispatched hundreds of firefighters, and President Xi Jinping called for an all-out rescue and investigation.
Experts interviewed by TASS say global diamond prices are unlikely to rebound quickly, with market recovery potentially taking 2-3 years. De Beers' recent price cuts and the collapse in demand for small and medium-sized natural diamonds amid rising synthetic production are key factors. Alrosa reports early signs of a turnaround, driven by investment-grade stones and recovering demand.
A fire at the Huiteng Shoes factory in Jinjiang, China, killed at least 28 people, according to state media. President Xi Jinping ordered all-out rescue efforts and an investigation. Firefighters and emergency crews were dispatched to the scene, and company officials have been detained.
Prime Minister Mikhail Mishustin said Russia is ready to strengthen technological partnerships and launch joint projects with all friendly nations, citing growth in non-resource, non-energy exports and progress toward industrial independence at the Innoprom exhibition.
Serbian Government Minister Nenad Popovic stated that Serbia's economy is open to cooperation with Russia and China, alongside its existing ties with the EU and the US. He highlighted the shifting economic vector toward the East and BRICS nations, speaking at the Innoprom exhibition in Yekaterinburg.
Kremlin spokesman Dmitry Peskov discussed the potential for further Putin-Trump talks, US mediation in Ukraine, and Russia-China drills, while questioning Washington's neutrality and criticizing Trump's remarks on escalation.
Australia and India have finalised arrangements for uranium exports during Indian Prime Minister Narendra Modi's visit to Australia. The deal, announced alongside a civil nuclear agreement, aims to support India's clean energy goals under IAEA safeguards.
Russia and China launched the Joint Sea 2026 naval exercises in Qingdao, focusing on submarine rescue, anti-submarine warfare, and joint operations. The drills, which concluded on July 13, included live-fire exercises and were framed by both sides as defensive and not directed against third countries.
During a three-day state visit to Ulaanbaatar, South Korean President Lee Jae Myung and Mongolian President Ukhnaa Khurelsukh declared a shared vision for cooperation, focusing on critical minerals, trade, and advanced technologies. They agreed in principle on a Comprehensive Economic Partnership Agreement aimed at boosting annual bilateral trade to US$1 billion by 2030. Lee also highlighted Mongolia's potential role in bridging the divided Koreas and attended the Naadam festival as a special guest.
Volkswagen's plans to cut up to 100,000 jobs and potentially close four German factories have sparked protests at its plants, with unions and industry bodies warning of significant impact on the German economy. Chief executive Oliver Blume confirmed further job cuts despite the supervisory board rejecting the factory closures.
The Asian Development Bank (ADB) left Pakistan's growth forecast at 3.7% for FY2027, while projecting inflation at 8.3% for the current fiscal year. The Manila-based lender also lowered its growth forecast for developing Asia and the Pacific to 4.9% for 2026, citing Middle East conflict-related disruptions.
Former NSW MP Daryl Maguire has been found guilty of conspiracy in a fraudulent visa scheme that targeted Chinese nationals seeking permanent residency. The trial heard he recruited businesses in his electorate, with cash payments and misleading applications central to the case. His conviction for misleading evidence to the corruption watchdog was separately overturned.
China's National Vulnerability Database has warned of a serious security 'backdoor' risk in Anthropic's AI coding tool Claude Code, citing a built-in monitoring mechanism that can transmit sensitive data. The warning comes as Alibaba has banned employees from using the tool, and Anthropic accuses the Chinese firm of running large-scale 'distillation' campaigns.
Pakistan's Interior Minister Mohsin Naqvi held a series of bilateral meetings on the sidelines of the UN Chiefs of Police Summit 2026, including with UN Secretary General Antonio Guterres, who appreciated Pakistan's role in promoting peace. Naqvi also met his Russian and Chinese counterparts to discuss security cooperation, and with Sri Lanka's public security minister to boost coordination on narcotics and police training.
Prime Minister Han Seong-sook announced plans to expand the AI-driven work system to all central government agencies by year's end and disclose 100 types of core public data for AI use. Her office also hosted a morning lecture on AI with a focus on establishing a data roadmap and upgrading infrastructure.
The International Monetary Fund has downgraded its 2026 global growth forecast for the second time this year, citing the lingering effects of the war in the Middle East on energy markets. The IMF now expects the world economy to grow 3% this year, with an AI-driven technology boom only partly offsetting the shock.
Recent exchanges of fire between the US and Iran have put the fragile ceasefire and the Islamabad MoU at risk, with both sides accusing each other of violations. Analysts and officials call for restraint and renewed diplomatic efforts to prevent a wider conflict.
Former US national security adviser Michael Flynn opposes South Korea developing nuclear weapons, warning it would heighten tensions and suggesting reliance on US extended deterrence. Meanwhile, former deputy national security adviser Alex Wong sees potential for diplomacy with North Korea if strategic conditions change, pointing to President Trump's interest in Kim Jong-un and President Lee Jae-myung's openness to dialogue.
Following a US military operation against Tehran, Israel is bracing for a possible Iranian response, with assessments that Iran does not intend to return to full fighting. Defense officials highlight differing Israeli and US priorities regarding Iran, while US forces remain in Israel until 2027.