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Hungary's nuclear power plant is not expected to shut down as the water level is expected to remain high enough
The Paks nuclear plant in Hungary avoided a total shutdown due to the fact that water levels on the Danube, the main source of coolant for the plant, will'stay high enough close to the plant? because of engineering work?on?the river?, said Peter Magyar, the Prime Minister, on Thursday. Magyar said that the plant could start restarting its six idled turbines as early as Sunday, and be at full capacity on Thursday or Friday next week. The plant that generates almost half of Hungary's power has only been operating at 25% capacity. Only two of the eight turbines are operational. This is despite a 'historic drought and record low water levels along the Danube. The drought in Europe has caused havoc on the power, shipping and health systems. In Hungary and Romania, the drought has also prompted a discussion about how to adapt nuclear energy to an "increasingly severe climate". In a video posted on Facebook, Peter Magyar stated that "we can now safely say we won't have to shut down either of the two turbines currently operating as we are able to remain above the level at which they would need to be shutdown." He said that the engineering work near the plant had already raised the water level 10-15 centimeters. "As a consequence, the six idle turbines can start to be slowly restarted at least Sunday midnight," Magyar said. Experts expect the plant will be operating at full capacity on Thursday or Friday of next week. Last week, Hungary began to build a riverbed sill - a dam-like structure that runs crosswise at the bottom of a river to regulate water flow. This was expected to increase water levels up to a meter. The project will take weeks to complete. In order to provide a temporary solution, the government sank 2 barges near Paks in order to raise water levels so that the two turbines of the plant could continue working while the sill for the riverbed was being constructed. (Reporting and editing by Anita Komuves)
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Global yields drop after US Treasury increases debt buybacks
The dollar fell and gold rose on Wednesday after the U.S. Treasury Department announced a?increase in liquidity support for securities with longer maturities. This was following a widespread sell-off that was fueled by fears about the swelling of sovereign debt. The U.S. Treasury Department announced that it would increase the liquidity support for securities with nominal coupons older than two years to $4 billion from $2 billion. The yields on long-dated U.S. government bonds fell as much as 10 basis point, which also impacted the yields of European government bonds. U.S. Long Bonds hit their highest level in almost 20 years, Tuesday, with a rate of 5.34%. This reflects growing concerns over inflation and debt. Michael Lorizio is the head of U.S. Rates and Mortgage Trading at Manulife Investment Management, Boston. The Treasury started the buyback program on?May 20, 2024, to improve liquidity in the $32 trillion Treasury Market. Older securities that are traded less often, or "off-the-run" securities have the lowest demand. When bond prices drop, yields increase. Since long-end sovereign rates are used to price nearly all other asset classes, including mortgages, a sharp increase in yields poses a greater risk for the economy. Stocks rose due to the drop in yields. The Nasdaq Composite rose by 0.31%. The S&P 500 gained 0.41%. And the Dow Jones Industrial Average grew by 0.29%. The MSCI index of global stocks increased by 0.06%. The retreat in yields has weighed on the 'dollar, but gold and cryptocurrency have risen sharply. This divergence reflects the growing concern over the trajectory of U.S. government debt. Investors are often driven to gold and other hard assets by concerns about escalating government debt. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen, the euro and others) fell by 0.75%, while the euro rose by 0.79%, reaching $1.1666. The dollar fell 0.73% against the Japanese yen to 158.46. Bitcoin rose 5.63%, to $68,191.56, and ethereum jumped 9.23%, to $2.088.95. Hopes for peace in Iran are fading. Oil prices rose as the prospects of an agreement to end the Middle East conflict receded. U.S. crude climbed 1.78%, to $86.45 per barrel. Brent increased to $92.23 per barrel. This is a rise of 1.32% for the day. The cost of borrowing long-term from the U.S. for Germany and Japan has risen as investors become more concerned about inflation and the ballooning government debt. German and French long-term bond yields fell on the day, after reaching their highest levels in 15 and 18 year respectively. Jeremy Stretch, CIBC's head of G10 strategy, stated that "we have seen the long end of bond market selling off in recent days and it could be problematic to play through other asset classes." The Treasury Secretary has clearly made changes to address these risks. The dollar is now cheaper because the yields on 30-year Treasury bills have fallen sharply. The rise in Japan's 10-year benchmark bond yield to 3% is a warning for global debt markets, which have relied for years on low Japanese interest rates to drive a constant flow?of?Japanese investments abroad. The minutes of the Federal Reserve meeting in July, released on Wednesday, showed that the concern over inflation had grown. "Several" policymakers were ready to raise interest rates. "Many" said a rise in borrowing costs was needed if the inflation rate did not fall to the 2% target set by the U.S. Central Bank. The Federal Reserve left interest rates unchanged last month. However, Chairman Kevin Warsh unnerved the markets by giving few clues as to how policymakers would respond to persistent inflation.
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Zambian opposition leader will try to reverse election results in court
Brian Mundubile, the leader of the Zambian opposition, said on Wednesday that he would?challenge in court the results from the presidential election held on August 13, claiming vote fraud. The contest gave President Hakainde Hichilma his second term. Mundubile stated in a press release that "our campaign has documented serious irregularities and inconsistencies as well as circumstances surrounding the conduct of, counting, transmitting and declaring results." Hichilema's spokesperson declined to comment immediately. The Electoral Commission of Zambia was not available for immediate comment. The commission declared Hichilema as the "winner" on Tuesday, with approximately 60% of the votes, compared to 38% for Mundubile. EU MISSION FLAGS TRANSPARENCY QUESTIONS A European Union election observers mission has raised concerns over transparency. They said that many polling centres staff failed to record the results as soon as the announcements were made, as required by regulations. In a mission statement, the mission stated that "observers reported extended breaks during the results tabulation procedure in almost half the observations. The returning officers appeared to wait for instructions from... headquarters prior to announcing the results." Due to reports of violence and theft of ballot paper, the electoral commission suspended voting for several hours on Friday. The EU mission stated that the situation deteriorated even further after a heavy military force was deployed, resulting in less observers being present at the sites where ballots were collected and counted. UN CONDEMNS ARRESTS OF OPPOSITION After a relatively calm run-up to August 13's election, tensions quickly?escalated once the polls closed. In a raid involving an exchange of gunfire and Mundubile's presence, the authorities arrested 11 people, including key opposition figures. Mundubile released his latest statement at an undisclosed address. He said earlier that he had been placed under protection because of threats. Volker Turk, the UN High Commissioner for Human Rights, said that he was concerned about reports of detentions and arrests of opposition figures. In a press release, he said that he urged the authorities to stop arbitrarily arresting people and to respect the rights to due process of those who are detained.
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US warns Siemens that their devices can be hacked, amid fears Iran may breach water plants
According to a cybersecurity advisory released on Wednesday, several U.S. government organizations 'warned' that hackers were trying to hack into Siemens devices used to monitor water systems and other critical infrastructure systems. Cyber experts believe that the attacks are connected to Iran. The warning coincides with a spate of cyber incidents in which local water systems have been targeted in several states over the past few weeks. According to the advisory, there is an "active" threat to all Siemens S7 Series?programmable logical controllers in multiple critical infrastructure sectors including manufacturing, energy and water and wastewater,?chemical and food and agriculture, and Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency. The government has warned that, depending on the circumstances, compromises to these devices can lead to disruptions?of critical business processes, safety incidents or equipment damage. They could also compromise sensitive data and cause compliance violations. Siemens did not respond immediately to a comment request. The agencies stated that the hacker's use AI to reduce the time and technical expertise required to create exploits to successfully compromise systems. CISA warned July 30 that hackers are increasingly targeting programmable controllers. This follows a warning on July 22 about Iranian hackers exploiting devices made by Siemens, Rockwell Automation, and Schneider Electric. The federal government has not formally linked Iran to recent attacks against 'local water systems. President Donald Trump stated on July 31 that Iran was not involved. He blamed Minnesota instead, which was the first state to report at least 30 cyber-attacks on water systems that occurred between July 26 and 27.
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Global yields drop after US Treasury increases debt buybacks
The dollar fell and gold rose on Wednesday, after the U.S. Treasury Department announced it would "boost liquidity assistance for longer-dated Securities, following a widespread sell-off fuelled by 'fears' over swelling sovereign debt. The U.S. Treasury Department announced that it would increase the liquidity support buybacks for nominal coupon securities with longer maturities to $4 billion from $2 billion. The yields on long-term government bonds in the United States fell as much as 10 basis point, which also impacted yields on European government bonds. U.S. Long Bonds hit their highest level in almost 20 years, Tuesday, with a rate of nearly 5.34%. This reflects growing concerns over inflation and debt. Stocks rose as yields fell. The Nasdaq Composite rose by 0.39%. The S&P 500 gained?0.58%. And the Dow Jones Industrial Average grew 0.58%. The MSCI index of global stocks increased by 0.18%. The dollar index (which measures the greenback in relation to a basket currencies including the yen, the euro and others) fell by 0.71%, while the euro rose 0.74%, reaching $1.166. Gold spot jumped 3.42%, to $4481.85 per ounce. Michael Lorizio is the head of U.S. Rates and Mortgage Trading at Manulife Investment Management, Boston. The Treasury launched the buyback in May 2024 in order to improve liquidity on the $32 trillion Treasury Market. Older securities that are traded less often, known as off-the run securities, saw the weakest demand. When bond prices drop, yields increase. Since long-end sovereign rates are used as a benchmark to price other assets, such as mortgage rates, a sharp increase in yields poses a greater risk for the economy. Hopes for peace in Iran are fading. Oil prices rose as the prospects of an agreement to end the Middle East conflict receded. U.S. crude climbed 1.55% to $86.26 per barrel. Brent was up 1.15% for the day at $92.07. The cost of borrowing long-term from the U.S. for Germany and Japan has risen as investors become increasingly concerned about inflation and ballooning government debt. German and French bond yields that had risen earlier to their highest levels in 15 and 18 year respectively, have traded lower today. Jeremy Stretch, CIBC's head of G10 FX Strategy, said that "we have seen the long end of the...bond market selling off in recent days and it could be problematic for other asset classes to play through." The Treasury Secretary is aware of the risks and has taken steps to mitigate them. The dollar is cheapening and we're seeing the yields on 30-year Treasury bills fall sharply. The rise of Japan's 10-year bond yield to 3% is a warning for the global debt markets, which have relied for years on low Japanese rates driving a constant stream of Japanese investment overseas. The minutes of the U.S. Federal Reserve's July meeting will be released later on Wednesday. The central bank held rates steady, but chairman Kevin Warsh unnerved the markets by giving few hints on how policymakers could respond to persistent inflation. UNITREE SOARS IN DEBUT In China shares of the world's largest?humanoid robot maker, Unitree soared 460% in its debut. The listing was oversubscribed more than 8,000-fold by retail investors. Stocks in Asia had fallen earlier on worries about the future of semiconductor companies. South Korean stocks closed almost 6% lower on Monday, their largest one-day decline in three weeks.
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Analysts say that rising imports will make 2026 the weakest month for the Russian rouble.
Analysts say that August will be the weakest month of the year for the Russian rouble, due to the Ukrainian attacks on energy infrastructure, which have pushed up imports?of fuel, electric vehicles, and equipment?needed for refinery repair, which has pressed the currency. The rouble is down?around?20% versus the dollar since the beginning of May. Its lowest level since September 2025 was 85.44 at the beginning of this week on the interbank markets. The currency has been losing ground for almost four weeks with no significant corrections, despite assurances from the central bank that fears about currency pressures in August had been exaggerated. In a recent note, Bank Saint Petersburg analysts stated that "the rouble has been under pressure due to a large volume of foreign currency imports related to fuel purchases." The weakening rouble is a challenge to the authorities, as it increases the cost of imports. The central bank warned in July that Ukrainian attacks created supply shocks to the economy and increased inflation risks. Strong exports are not enough to?Support the Trouble The fuel shortages due to the refinery strikes have forced Russia import gasoline and diesel, which has increased demand for foreign currency. Analysts at Finam, an international financial services firm based in Moscow, stated that local oil companies also required foreign currency to purchase equipment for repairing facilities damaged by drones. According to LSEG, as of Wednesday 1427 GMT, the rouble was trading at 84.95 against the dollar. The rouble was not supported by strong?exports in the second quarter 2026. Exports reached $126 billion from April to June. This was higher than both the previous quarter as well as a year ago. However, Bank Saint Petersburg analysts noted that foreign currency sales had declined unexpectedly. According to data from the central bank, in July, foreign exchange sales by the biggest exporters dropped to $2.22bn, the lowest level since the tracking began in 2022. In June, Russian imports rose by 26% on an annual basis to $30.8 billion. The import figures for July have not yet been released. In July, the increased attacks on the Black Sea started to disrupt oil exports out of western ports, which threatened a major source of dollars. DEMAND FOR ELECTRIC VEHICLES IS RISING Analysts said that import growth is expected to continue to be the primary pressure on the Ruble in the future. Customs data show that car imports increased by 21% during the second quarter. According to industry data, the long lines at gas stations caused by fuel shortages has pushed demand for electric cars. Sales of new plug-ins hybrids were up 125% on an annual basis in January-May. Alexander Isakov is the head of macroeconomic research at Sberbank. He said: "We are seeing stronger imports including auto imports and more resilient domestic demand." The fuel crisis is not over. At least 10 regions tightened sales controls at petrol stations as of the beginning of this week. This follows a brief respite for supply issues in many parts of Russia towards the end of July. The Tass News Agency reported that Alexander Novak, the Deputy Premier, confirmed on Wednesday that Russia has begun to import?fuel. He did not give details about the volume or source of the imports. Last week, it was reported that Russia imported diesel from Asia. According to LSEG, at least two additional gasoline cargoes - from India - are expected to arrive in Russian ports within the next two weeks. In mid-August we can see that the rouble's trend of weakening is continuing. Finam analysts say that speculators are buying foreign currencies with roubles to support the rouble. They predict the rouble will stabilise, and possibly even strengthen, around the September 18-20 elections. Analysts at Sberbank estimate that by 2027, the rouble could reach a value of 97 per dollar. (Writing and editing by Alison Williams; Alessandra Prente)
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US funds African rare earths that are shunned privately, sources claim
Two senior DFC executives said that the U.S. International Development Finance Corporation (DFC), is supporting a pipeline of African projects involving rare-earth elements, as private investors are reluctant to fund this sector. The DFC announced on Wednesday that it had committed $62.8 to rare-earth project in Malawi, Angola and Madagascar, but none of them has yet reached production. The majority of this funding, about $50 million, was allocated to the Phalaborwa Project in South Africa. It is backed by Dublin-based mining investors TechMet. One of the executives, who asked to remain anonymous because they weren't authorised for public discussion on this matter, said: "We don't see private capital coming into our projects." "We are trying to de-risk projects and make them more attractive for private sector investment." In a rare public admission, the two DFC executives stated that private investors are still largely reluctant to fund African projects for rare earths, despite the strategic importance of these projects in reducing U.S. dependency on China, the world's top producer, who has tightened its export controls over the last couple of years. Rare earths are vital?for magnets that are used in electric cars, wind turbines, and defence systems. The United States uses the DFC more and more to develop Western-aligned mineral supply chains. DFC's executive said that private investors are still wary about African rare-earth project because of their high risk profile, and the concern of Chinese market intervention. Analysts say that many of the proposed projects involving rare earths are also faced with uncertain economics, and limited investor interest. "There are far more announced rare-earth projects than ?there is demand for neodymium-praseodymium (NdPr) magnets," ?said Olimpia Pilch, head of strategy ?at advocacy group Critical Minerals Africa. The second DFC executive stated that Africa represents between 20 and 25 percent of DFC's total global investment portfolio.
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Global bonds rise on signs of support in US Treasury market
The global bond yields fell from multi-decade-highs on Wednesday, after the U.S. Treasury Department announced it would increase liquidity support for securities with longer maturities. This followed a 'widespread sell-off' sparked by fears about soaring sovereign debt. The U.S. Treasury Department announced that it will double the size of its 'liquidity support buyback operation for longer-dated nominal coupons securities from $2 billion to at least $4 Billion per operation. The yields on long-dated U.S. government bonds fell as much as 10 basis point, which also impacted the yields of European government bonds. U.S. Long Bonds hit their highest level in almost 20 years, Tuesday, with a rate of 5.34%. This reflects growing concerns over inflation and debt. When bond prices fall, yields rise, and this is important because the long-end sovereign rates act as a anchor for nearly all other financial assets, including mortgage interest rates. Hopes for peace in Iran are fading. Oil futures rose around 0.2%, as prospects of an agreement to end the conflict?in the Middle East' declined. S&P 500 and Nasdaq both rose 0.4% early in the day, while European shares were largely flat. Stocks in Asia had fallen earlier on worries about the future of semiconductor companies. South Korean shares ended the day nearly 6% down, their largest one-day decline in three weeks. Investors are worried about the ballooning government debt and high inflation. This is partly due to the Iran War pushing up oil prices. German and French bond yields that had previously risen to their highest levels in 15 and 18 year respectively, have traded lower today. Jeremy Stretch said that the G10 FX Strategy head at CIBC was concerned about the impact of the recent bond market sell-off on other asset classes. The Treasury Secretary must have been aware of these risks, and has taken steps to mitigate them. The dollar is cheapening and we're seeing the yields on US 30-year Treasury bills fall sharply. The rise of Japan's 10-year benchmark bond yield to 3% is a warning for global debt markets, which have relied for years on low Japanese interest rates to drive a constant flow Japanese investment overseas. "There's a narrative about whether we will have higher inflation for longer and what that means for interest rates on the long-term." said Neil Fisher, investment specialist at St James's Place. "Then, you have a narrative about how sustainable some of this long-term government debt is in the UK and Europe as well as the U.S." The minutes of the July meeting will be released by the U.S. Federal Reserve on Wednesday. The Fed held rates, but Chairman Kevin Warsh scared the markets with his lack of information about how it might react to persistent inflation. UNITREE SOARS IN DEBUT In China shares of the world's?"biggest" humanoid robot maker, Unitree soared 460% in its debut. The listing was oversubscribed more than 8,000-fold by retail investors. Anthropic reported that its annual revenue run rate topped $65 billion by the end of July. This was what triggered some market expectations. The U.S. Dollar index fell 0.6% to 99.018. The dollar traded at 158.34 yen and the euro rose 0.6%. The Canadian dollar increased slightly after U.S. president Donald Trump said that the two countries had reached an agreement and paused the imposition of a 50% tariff for three days. (Reporting and editing by Shri Navaratnam and Sam Holmes; Additional reporting and editing by Elaine Hardcastle, Barbara Lewis, and Sam Holmes)
Study shows that HEALTHROUNDS-Platelets are best stored chilled for several weeks and not just a few days.
We also share data that confirms the high cancer risk for U.S. airline crews from cosmic radiation.
AVAILABILITY OF CHILLING PLATELETS MAY BE EXPANDED SAFELY
Researchers who have tested the use of refrigerated plates say that their results could help more than triple the?supply? available to save bleeding patients.
Platelets are an important blood component for clotting. They also help to stop blood loss. Platelets donated are stored at room temperatures with a shelf life of five to seven days.
In 27 hospitals across the U.S., Australia and Canada, 1,000 children and adults who underwent cardiac surgery were given either chilled platelets or room-temperature plates that had been stored for no more than seven days.
Researchers reported in JAMA that platelets stored at room temperature for three weeks or longer were equally effective as those kept refrigerated.
Researchers noted that a significant portion of the 2.5 millions room temperature platelet units collected in the U.S. each year are wasted because they have a short shelf-life.
In a press release, Dr. Philip Spinella of University of Pittsburgh stated that the new findings would "dramatically improve the availability of blood platelets and reduce waste." This will allow hospitals outside of major cities to be able to afford this life-saving product for bleeding patients.
His team pointed out that rural and community hospitals cannot currently justify stocking room temperature platelets because they do not often treat patients with severe bleeding.
Researchers said that their results were already being reviewed by the U.S. FDA and regulators from other countries.
OCCUPATIONAL Radiation HITS U.S. Airline crews are the hardest hit
Researchers say that in a large survey of U.S. workers flight attendants, pilots, and other aviation professionals had the highest percentage of cancer-related deaths due to occupational radiation.
Researchers reported in JAMA Internal Medicine that even nuclear medicine technologists who are regularly exposed to radiation had lower mortality rates for these cancers than flight crews and cabin crews.
The National Vital Statistics System was used to analyze death certificates from more than 13 million people across 503 professions between 2020 and 2024, including 14,000 pilots and approximately 7,000 flight attendants.
The researchers looked for deaths caused by radiation-related cancers in the breast, blood, thyroid gland, skin, and central nervous system.
Researchers found that after accounting for individual factors, pilots and flight attendants have statistically higher rates of dying from cancers such as breast, prostate, central nervous system, and melanoma.
Leukemia death rates were also higher among pilots.
Radiation-related cancers caused 6.9% of all deaths in flight attendants, and 6.7% among pilots.
Flight crew members were not at higher risk for non-radiation-related cancer deaths.
According to a report, pilots and flight attendants accumulate 3 to 6 millisieverts of cosmic radiation per year, which is much higher than the 0.4 millisieverts that an air traveler who takes 10 round-trips across the country per year would receive.
Unlike other?U.S. workers, these workers are not subjected to federal dose limits or monitor requirements despite the fact that they are recognized by the U.S. Federal Aviation Administration as being occupationally exposed. Researchers noted that radiation-exposed aircrew or workers in other countries.
Researchers who were not involved with the study wrote an editorial that the findings "...should be of interest to policymakers, airline regulators, and 'clinicians caring for those who work at high altitudes.
The editorial suggests that doctors have a "heightened index of suspicion" in evaluating any aircrew who may be suffering from cancer. Sign up for the newsletter to receive it in your mailbox. (Reporting and editing by Aurora Ellis; Reporting by Nancy Lapid)
(source: Reuters)