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Wildfire smoke poses serious health risks
Smoke containing noxious gases, particulates and other harmful substances is causing a pungent haze to blanket millions of people around the globe. What you need to know about wildfire smoke. What is contained in wildfire smoke? Wildfire smoke is more toxic than regular air pollution and can linger for weeks in the air. It can also travel thousands of kilometers. Wildfires are not limited to burning vegetation. They can also burn vehicles, buildings and their contents. Wildfire smoke contains not only soil particles and biological materials but also metals, plastics, and other synthetic materials. What are the known health effects? Kent Pinkerton is co-director of the Center for Health and the Environment, University of California Davis. He said that in laboratory experiments, wildfire smoke caused more tissue damage and inflammation than air pollution. Wildfire smoke has been linked to increased rates of heart attacks and strokes. It also increases emergency room visits due to asthma. In Maryland, a study conducted in 2023 found that wildfire smoke from up to 2,100 km away was responsible for a spike of heart and lung diseases. Wildfires have also been associated with eye and skin conditions. Wildfire exposure during pregnancy is associated with miscarriage and low birth weight. Californian researchers found that wildfire exposure and placental cellular damage are linked. In a separate study, wildfire smoke inhalation during the third trimester was linked to an increased risk of autism. Exposure can have long-lasting effects. Heart disease rates in Australia remained high for more than two and a half years after the Hazelwood coal mine?fire of 2014. Respiratory illnesses remained high for another five years. In a study published in 2026, wildfire smoke was linked to increased risks of lung, colorectal and breast cancers, as well as blood and bladder cancers. The risks increased with the amount of pollution from the fires. Researchers in California found that exposure to the Camp Fire of 2018 in California led to changes in brain activity and cognition six to twelve months later. Multiple studies now link longer-term exposure to wildfire smoke with increased dementia risk. Californian data also shows an increase in fungus?infections following exposure to wildfire smoke, probably due to the spores present in the smoke. Is there a safe level of inhaled particles? Doug Brugge who chairs the Department of public health sciences at University of Connecticut School of Medicine said, "The bad news, there is no safe level" of wildfire smoke particles inhaled. The higher the exposure level, the greater the risk, but these particles can still make people sick even at levels lower than the national safety standard. Inflammatory responses can be triggered by any amount of particles inhaled. The most vulnerable are children, the elderly, and those with chronic diseases. Keith Bein, Air Quality Research Center, University of California Davis, says that even in healthy adults, certain effects of exposure, such as sore throats or excessive phlegm and coughing, headaches, and brain fog, can occur immediately and persist for a long time after the smoke plume has disappeared. What can you do to mitigate the risks? Experts recommend wearing N95 masks in the presence of wildfire smoke and limiting outdoor activity, particularly strenuous sports. Dr. Jasvinder Sing, a specialist in lung medicine at Medstar Franklin Square Medical Center Baltimore. Indoor air purifiers capable of trapping particles smaller than 2.50 microns are also recommended by experts. Brugge stated that air purifiers reduced exposure to air pollution and, in studies, the blood pressure and cognitive effects of it. UC Davis provides'simple instructions' for those who can not afford to buy an air purifier. The EPA offers online instructions on how to reduce exposure to wildfire smoke. Are people safe indoors? Experts claim that the smoke from wildfires can enter buildings at high concentrations. Singh stated that the average concentration of wildfire pollutants indoors is half what it is outside. He said that if a building has poor sealing, it can have a concentration of up to 70% more than what is outside. Through drafty doors and windows, old buildings can expose people to higher levels of pollution. The EPA recommends that people refrain from indoor activities which can cause fine particles to be released into the air. This includes smoking cigarettes, frying food or broiling it, or burning incense or candles. Bein compared the indoor exposure to wildfire smoke with second-hand smoke. He said that "the particles... end up all over - on clothes, walls, surfaces and are still outgassing", i.e. being released into air, "after the plume has gone." What is unknown? Climate change will likely lead to more frequent wildfires, which means people will be exposed to them more frequently. The health effects of multiple seasons have not been determined. Bein stated that it is difficult to predict the number of fires, the duration and the type of smoke from the fires. Researchers are examining the effects of smoke particles on water supplies, crops or livestock. They also examine the effects of wildfire smoke in utero and the effects of extreme heat. Researchers warn that nutrients carried by wildfire smoke can contribute to algal blooms in the downwind area, which could have implications for drinking-water reservoirs and lake ecosystems. Reporting by Nancy Lapid, Editing by Mark Porter
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India's SBI Funds Management raises $31 billion at the country's fourth most-bid IPO
India's SBI Funds Management drew bids worth ?3 trillion Indian rupees ($31.14 billion), making the asset manager's $1.03 billion initial public ?offering (IPO) the country's fourth-most-subscribed issue. The $278.5 millions raised by anchor investors, such as BlackRock, sovereign wealth funds in Singapore, Abu Dhabi and Norway, is included in the IPO subscription numbers. India's primary stock market made a strong return with the IPO that closed on Thursday. This was after a subdued start to the year. India will see a flurry of public offerings during the second half of the year. Reliance Jio's mega listing and the National Stock Exchange are expected before 2026. SBI Funds Management is India's leading asset manager. It's a joint venture of the largest Indian lender, State Bank of India, and Europe's largest asset management company, Amundi. The two companies oversee funds totaling 12.5 trillion rupees (131 billion dollars) as at March 2026. Exchange data revealed that institutional investors were the main buyers of SBI Funds Management shares. They bid for 25?billion dollars worth of shares - 140 times more than what was offered for them. The amount set aside for SBI shareholders and retail investors was subscribed to 3.6 and 9.5 times respectively. Stocks are expected to start trading on 21 July. Data from PRIME Database shows that SBI Funds' IPO is behind Reliance Power and LG Electronics India in terms of the number of bids received. Analysts at Aditya Birla Money said in a July 14 note that the asset manager was well positioned to 'capitalise on their market leadership, strong network of distribution and robust profitability. India's IPOs this year are worth less than $4 billion, compared to the $21.8 billion of last year. According to the Prime Database, activity will pick up in 2026's second half, when 251 companies plan to raise 5.17 billion dollars or 4.93 trillion rupees. The heavy bidding for SBI Funds IPO'signals investors are willing?to commit?fresh capital?to quality franchises. This can help revive sentiments in the upcoming pipeline of (IPOs)", said Dhiraj Rielli, managing director at HDFC Securities.
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Portugal, Brazil seek Brazilian investors for sustainable fuel plants in Europe
Portugal and Brazil are looking to attract Brazilian investors to build one or more advanced biofuel - and sustainable aviation fuel plants. Maria Graca Carvalho said she would discuss the project, which targets the domestic and European market, when she meets her Brazilian counterpart next week in Brasilia. Carvalho says that the company wants to take advantage of Brazil's biofuels expertise and Portugal's role as a European gateway in order to meet the growing demand for low carbon fuels. BRAZIL HAS AN 'SIGNIFICANT' EXPERTISE, MINISTER SAYS Carvalho stated that the project had the support of Brazilian President Luiz inacio Lula da Silveira. She said that Brazil, which she called a "very-close" partner of Portugal, was the country's biggest oil supplier and accounted for 44% imports. Carvalho, a reporter at the time, said that Brazil has been a leader in biofuels for many years. It also has a significant amount of technological expertise in SAF and advanced biofuels. We want to provide Portugal with the opportunity to establish one or two fuel plants. She said, "We are looking into a joint venture that would allow us to produce for both the Portuguese and European markets." Any deal can be handled by a foreign investment agency She confirmed that she will visit plants in?Brazil this week. She added that any potential investment in similar plants in Portugal would be handled by AICEP, Portugal's foreign investments agency. Portugal's advanced-biofuels industry has just begun.?Galp is building a 270,000 ton-per-year plant in Sines that will begin producing SAF in 2026. Carvalho stated that Algeria was Portugal's second-largest supplier of oil after Brazil. Nigeria and the U.S. are the two major natural gas suppliers. This means the country is not dependent on the Gulf region but remains vulnerable to global energy prices swings. (Reporting and editing by Jan Harvey; Sergio Goncalves)
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Zijin begins Congo lithium exports, according to sources
Five sources with knowledge of the matter said that China's Zijin had begun exporting lithium concentrate from its Manono Project in Democratic Republic of Congo. A source with first-hand knowledge of the situation said that "exports began in June, as planned." "They are shipping all of their products to China." These shipments are Congo's very first lithium exports. They extend China's dominance in the critical minerals?sector of the country, where CMOC, Huayou Cobalt and other major players already play a significant role. Zijin's and Congo's Mines Ministry did not respond immediately to requests for comment. Manono Lithium, a company that acquired a portion of the project from AVZ Minerals, has been at the center of a dispute since Congo revoked the permit of Australian miner AVZ. Zijin owns?54.9% of the venture, while Cominiere, the state-owned miner, holds 35.1%. The Congolese government has 10%. The U.S.-backed KoBold Metals which holds the adjacent Manono licence has stated that it will not move forward with the development of the project until all legal disputes regarding the project have been resolved. SHIPPING IN TRANSIT TO CHINA An executive in the mining industry said that initial exports are likely to be trial shipments, after technical problems delayed commissioning of a processing plant. Exports started in June, but were limited. One trader estimated volumes of just a few thousand metric tonnes. The project, according to a second trader, has already produced thousands of tons of concentrated oil. However, much of the concentrate is still?likely in transit' and may not arrive in China until October. A source who visited the site in June reported that trucks were transporting concentrate from Manono, to the lakeside town of Kalemie to be shipped to China via Tanzania. In a notice dated July 9, the?company stated that Manono’s processing plant?started producing in May 2026 - a full month ahead of schedule. The smelter, and other downstream facilities, are expected to be online by December, speeding up the project’s ramp-up. Zijin targets 30,000 metric tonnes of lithium carbonate equivalent from Manono by 2026. According to the company, this project will process about 5 million tons ore per year and produce 1 million tonnes of spodumene. (Reporting from Maxwell Akalaare Adombila and Amy Lv)
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As US interest rate hikes are boosted by Middle East tensions, gold falls 2%
Gold dropped 2% on?Thursday as Middle East tensions increased oil prices, U.S. Treasury yields, and inflation concerns. Gold spot was down as much as 2.5% earlier, at $4,001.17 an ounce, by 926 am EDT (1326) GMT. U.S. Gold Futures fell?1.1% at $4,005.20. Oil prices increased by over 1% after concerns about Middle East energy supplies grew. Iran had asked Yemen's Houthis if they were ready to shut down the Red Sea oil routes if the U.S. attacked Iranian power infrastructure. The higher oil prices fuel inflation fears, increasing expectations of high interest rates. Gold's appeal as an asset that doesn't yield returns is also diminished. Bart Melek is the global head of commodity strategies at TD Securities. He said that gold prices are under pressure because "oil prices have yet again moved up." With Brent?levels higher than before, there's a continued expectation that U.S. rates will go higher. According to CME FedWatch Tool, traders are pricing in a 56% probability that the Federal Reserve is going to raise rates in September. The yields on the benchmark U.S. Treasury 10-year note have been moving higher. The U.S. Dollar gained 0.2% making gold more expensive for overseas buyers. Fed Chair Kevin Warsh declared this week his determination to bring down?inflation without?specifically indicating how. Data released Tuesday revealed that U.S. consumer prices fell in June. Meanwhile, Wednesday's data showed a decrease in the producer price index. Even if the Fed adopts a more dovish position, the persistently high price of energy would make it hard for them to do so. Investors are also choosing the dollar over zero-yielding metals, according to Fawad Rasaqzada of Forex.com. Silver spot fell 2.8%, to $56.17 an ounce. Platinum dropped 0.9%, to $1.658.65. Palladium was down 2.7%, to $1.279.25. (Reporting and editing by Diti Pjara in Bengaluru)
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Five people have been killed in Gaza by escalating Israeli attacks, say medics
Israeli strikes in Gaza Strip killed 'at least five Palestinians on Thursday, according to Palestinian health officials. Meanwhile, a U.S. research group reported an increase in Israeli attacks that was unprecedented since the last truce came into effect in October. Two people were killed by an Israeli airstrike near the Tuffah neighborhood in the northern part of the enclave. A third was killed when Israeli tanks shelled the Zeitoun area in eastern Gaza City. A medic said that an airstrike on a tent camp for displaced persons in west Gaza City killed a person and injured several others, while a car in Khan Younis in the south was attacked, killing another. Witnesses reported that an attack on a building in Nuseirat Refugee Camp in central Gaza caused damage to many nearby homes. The Israeli military did not comment immediately on the incidents. Gazan health officials report that the deaths bring to more than 1,100 Palestinians killed in Israeli attacks, mostly civilians. Hamas doesn't usually reveal its losses. "The people of Gaza as a whole have never experienced a moment or day of ceasefire. Jibril Khattab, the relative of one of those who died, said in Gaza City's Al Shifa Hospital that this ceasefire was an illusion. "Nowhere in Gaza is safe," added Khattab. RISE OF ATTACKS The ceasefire has stopped major fighting but not the near-daily Israeli attacks. In the same time period, militants have killed four Israeli soldiers in Gaza. ACLED, a conflict monitor that tracks Israeli attacks on Gaza, reported an increase in airstrikes in June of more than 40, the highest total since the ceasefire. Nasser Khour, ACLED Middle?East's Assistant Research Manager, said that Israeli Prime Minister Benjamin Netanyahu was under increasing pressure from within his own country to adopt a more aggressive security posture against Hamas. He was referring to the Israeli legislative elections in October. Israel claims that its strikes are aimed at stopping attacks by militants in Gaza. Hamas controls a small strip of land along the coast where nearly all Gaza's two million residents live, mostly in tents or damaged buildings. According to Israeli statistics, Hamas-led fighters killed 1,200 people in their attack on Israel on October 7, 20,23. Gaza's health ministry reported that Israel's offensive following the Gazan invasion killed over 73,000 Palestinians. Nidal al Mughrabi reports and writes from Cairo. Dawoud Alkas contributed additional reporting from Gaza. Editing by Andrei Khalip.
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US retail sales increase marginally in June
Retail sales in the United States increased slightly in June, as lower gas prices affected receipts at service stations. However, bargain-hunting shoppers continued to drive spending. The Commerce Department's?Census Bureau reported on Thursday that retail sales increased?0.2% in June after an upwardly-revised 1.0% increase in May. The economists who were surveyed predicted that retail sales - which are mainly goods and not adjusted for inflation - would rise by 0.2% in June after an earlier reported 0.9% increase. Estimates ranged between a 0.4% decline and a 1.0% rise. The average gasoline price dropped to $4.18 per gallon from $4.61 a month earlier, according to data from the U.S. Energy Information Administration. The modest reduction in gas prices, which was due to a decline in oil prices, as a tentative ceasefire between Iran and the United States took hold, allowed money to be spent elsewhere. The truce broke down last week, and renewed hostilities between the United States and Iran have caused oil and gasoline to rise again. Retail sales excluding automobiles and gasoline, building materials, food services, and other items rose 0.5% in June, after a 0.8% increase in May, which was revised upwards. Core retail sales, also known as core retail sales, are the most closely related to consumer spending in terms of gross domestic products. They were reported previously to have increased by 0.7%. Amazon Prime Day, which took place at the end of this month, was likely to have boosted core retail sales. Other retailers also offered competing promotions. It is also possible that the FIFA World Cup helped boost receipts in restaurants and bars. In a report released on Wednesday, Bank of America Institute said that an analysis of card data revealed that spending at value grocery stores and discount clothing retailers had begun to increase again in the early part of this year. They added that "price conscious consumers are increasingly turning to general merchandise shops for discounts and deals." The 'Middle East conflict' and higher import tariffs have put pressure on household budgets. Higher-income households continue to drive spending, as their wealth has been boosted by the stock market rally. Bank of America Institute reported that lower-income families were the ones who had spent more at discount clothing stores, with five times as much spending in 2026. The Federal Reserve's Beige Book Report on Wednesday said that consumer spending had increased in early July. It also noted that "several district reported declines in discretionary purchases or trading down to cheaper varieties." Economists expect consumer spending to pick up in the second quarter, after nearly stalling during the quarter January-March. According to the Atlanta Fed model, GDP growth is expected at a rate of 1.3% annually in the quarter April-June. The economy grew by 2.1% in the first three months. (Reporting and editing by Chizu Nomiyama; Lucia Mutikani)
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Gold prices fall as inflation worries are revived by tensions in the Middle East
Gold prices fell on Thursday, as tensions in the Middle East increased inflation concerns and added uncertainty to 'the trajectory of U.S. Interest Rates. Spot gold dropped 0.8% per ounce to $4.026.71 by 1132 GMT. U.S. Gold futures fell 0.5% to $4.032.00. "Gold is still a geopolitical and inflationary product." The continued U.S. attacks against Iran, and the disruptions of the Strait of Hormuz are supporting oil prices and maintaining inflationary risks," said Nikos Tzabouras a senior analyst at Jefferies owned Tradu.com. After reimposing its naval blockade, the U.S. launched a second wave of attacks against Iran's missile and coastal defense sites. Meanwhile, Iran struck back at U.S. military bases in neighboring countries. The latest escalation follows a fragile ceasefire that collapsed days ago, fueling concerns about the Strait of Hormuz. Crude oil is set to rise by a significant amount each week. Energy prices are rising, which is fueling inflation fears. This will lead to higher interest rates. Gold's appeal as an asset that does not yield returns will be diminished. Data from the CME FedWatch Tool shows that traders are pricing in a 51% probability of a rate increase in September. Fed Chair Kevin Warsh declared this week his determination to bring down inflation without specifying how. Data released on Tuesday revealed that U.S. consumer prices fell in June. This prompted spot gold to rise?more than 2 percent immediately following the report. The producer price index also declined according to data released on Wednesday. The Fed can now relax its policy because the CPI and PPI are no longer as high. This will allow bullion to resume its recovery. This 'cooling of inflation' may be short-lived, as oil prices are expected to rise again. Tzabouras said that a de-escalation of the (peace) negotiations or re-starting them would be best for gold. Market participants are now awaiting remarks from Dallas Fed president Lorie Logan and Fed vice chair Philip Jefferson. They will speak later today. Silver spot fell 2.2%, to $56.55 an ounce. Platinum dropped 1.3%, to $1.652.61, while palladium declined 2.3%, to $1.283.63. (Reporting by Sukanya Mitra in Bengaluru; Editing by Diti Pujara)
Putin claims that globalisation has become obsolete and that the future belongs to emerging market
On Sunday, Russian President Vladimir Putin said to BRICS leaders that the era liberal globalisation is obsolete. The future belongs to rapidly growing emerging markets that should increase the use of national currencies in trade.
A warrant of arrest issued by the International Criminal Court alleging that Putin is responsible for war crime in Ukraine caused him to speak via video link at the Rio de Janeiro summit. Moscow claims the warrant is unfounded, and has no purpose.
BRICS – an idea that was conceived in Goldman Sachs 20 years ago to describe China's growing economic clout and that of other major emerging market countries – now accounts for 45% the world’s population.
In a televised statement, Putin stated that "everything indicates the liberal globalisation model is becoming outdated." "The center of business activity is moving towards emerging markets."
Putin called on the BRICS nations to intensify their cooperation in a variety of spheres, including natural resources and logistics, as well as trade and finance.
According to the International Monetary Fund, the five core BRICS countries - Brazil Russia India China South Africa – account for over $28 trillion of nominal Gross Domestic Products in dollar terms, while the Group of Seven is responsible for over $51 trillion.
China is the source of most of the economic clout for BRICS. This group also includes Egypt and Ethiopia as well as Indonesia, Iran, and the United Arab Emirates. China accounts for over 60% of the combined clout among BRICS.
(source: Reuters)