Latest News
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Kazakhs vote in elections that will tighten President's powers
Kazakhs began voting 'Sunday in a snap election for a new parliament that appeared to be strengthening the power of President Kassym Jomart Tokayev over this 'Central asia country. The election was triggered after the adoption of a revised constitution in early this year. This new constitution consolidated parliament into a single chamber, reducing it from two. Kazakhstan's Supreme Court said last month that Tokayev who took office in 2019 was allowed to run for another seven-year term under the new constitution. Opinion polls show a majority of people support 'Adilet', a pro Tokayev party that was founded only a few months ago. The previous ruling party Amanat has been dissolved. The election is also being contested by a number of opposition parties who are all viewed as generally loyal to Tokayev. Tokayev, who voted in Astana's capital, told journalists that it was too early to decide whether he would run for another term. Tokayev is the successor of Kazakhstan's first President, Nursultan Nazabayev. He split with his predecessor after the 2022 unrest, which he has characterized as a coup by Nazarbayev's allies. Reporting by Felix Light, Mariya Gordeyeva and Elaine Hardcastle
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Former world boxing champion Tete of South Africa is shot dead outside his house
?Police?and?the country's Sports Minister?have confirmed that former world boxing champ?Zolani 'Last Born' Tete has been shot dead outside his home on Friday in South Africa's Eastern Cape province. Two armed men in balaclavas jumped out of the vehicle as the 38-year old was approaching his home in Mdantsane Township and opened fire. Gayton McKenzie, Sports Minister Gayton said in a press release: "I won't speculate on who did it? Or why." Tete's murder will bring attention to violent crime in South Africa. Despite recent declines, the country continues to have one of highest murder rates in the world. The murder of Tete has also touched a nerve in Mdantsane. This township, located in the Eastern Cape province of South Africa, has produced many of South Africa's best-known?boxers. A woman aged 27 who was travelling with Tete, was shot several times and taken to hospital. The police have begun an investigation and the motive is still unclear. Tete won the IBF junior bantamweight title in 2014, after beating Japan's Teiru "Kinoshita" in Kobe. Later, he?won a WBO bantamweight title. His '11-second knockout' of South?African Siboniso Gonya in Belfast in November 2017 is what he will be remembered for internationally. It was the fastest finish in a world title bout.
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Ukrainian drones kill multiple people in warehouse of Russian online retailer Ozon
Russian officials reported that Ukrainian drones had killed at least six civilians in an overnight wave of strikes against Russia. The strike also targeted a warehouse owned by the online retailer Ozon, as well as an industrial facility located in Samara. Vyacheslav Federishchev, the Governor of Samara, posted on Telegram that several people were injured in the strikes. He did not mention the industrial facility that was struck but Ukraine's Military?said they had struck the Novokuibyshevsk Refinery in the region, causing an fire. Ozon, Russia’s second largest?online retailer said in a Telegram statement that the work at its Samara region logistics centre in Chapayevsk was halted following the strike. It said the strike caused?injuries. This is the first strike on Ozon after weeks of drone attacks against its larger rival Wildberries. Ukraine has framed this as part a broader campaign to attack the economic infrastructure that underpins the Russian war on Ukraine. Veniamin Kodratyev, the governor of the southern Russian region of Krasnodar said two children were killed and two adults injured?in an attack on the Sea of Azov Port Town of Yeysk. He claimed that a fire broke out at an unnamed building in the port of the town. In an attack on the Ukrainian border region, Belgorod, a region of?Russian?Belgorod, which borders Ukraine said that two people were killed and thirteen others wounded. The local governor of Bryansk said that four people had been injured in the?border region. The governor of Luhansk in eastern Ukraine, which is almost entirely controlled by Russia, said that two civilians including a 16 year old boy, were killed, and nine others wounded. The Russian Defence Ministry announced that it had shot down 457 Ukrainian drones over night. (Reporting and editing by Alexandra Hudson, Emelia Sithole Matarise and Felix Light)
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US and Iran continue to use hostile rhetoric in advance of new sanctions
The United States, Iran and China exchanged defiant e-mails ahead of the scheduled announcement on Monday of new U.S. sanctions that may?impact Iran and its most important trading partners such as China. The war was approaching six months and the two sides were not only not exchanging shots but they also weren't pursuing any peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran and urging China's cooperation with Washington. According to data from Kpler, China bought more than 80% (of the oil shipped by Iran) in 2025. ?Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the impending announcement by the United States of new economic sanctions against Iran is an "assertion extraterritorial sovereignty over every independent member state of the United Nations." In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." Donald Trump, the U.S. president who warned against economic sanctions for any country providing "any kind of lifeline" to Iran, said on Friday Washington was watching "what happens". Trump said that Iran would like to do a deal but was not prepared to make it. HORMUZ?TRAFFIC HALTED While U.S. effectively blockedaded Iranian vessels, the Strait of Hormuz remains bottled up. Thousands of seafarers are stranded aboard hundreds of?vessels. Ship-tracking data revealed that only four commodity ships were sailing along the Strait of Hormuz on Thursday. None of these vessels were large crude carriers, or liquefied gas tankers. Iran, however, has allowed a number Iraqi oil tankers the opportunity to pass through this Strait after repeated requests by Baghdad. This was reported Saturday by Iran's official news agency IRNA. IRNA reported that Baghdad had made a number of requests to Baghdad during the visit by Iranian Parliament Speaker Mohammad Baqer Qalibaf. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a week. This is down from over 20 million barrels per day prior to the war, or approximately?one out of every five oil barrels consumed globally. The U.S. has severely damaged Iran's economy, its navy and its air force. But Tehran still maintains enough drone and missile capability to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set for himself at the beginning of the war, such as dismantling Iran’s nuclear program – the status of which is uncertain, given that U.N. Inspectors are no longer allowed to enter the country since 2025 – and creating conditions so Iranians can overthrow the clerical leaders. On the first day of war, thousands have died. 168 Iranian children were among them. More than 750 US military personnel have been reported as wounded, and 18 people killed. The Iranian Economy is Damaged On Friday, the chief of staff of Iran's Armed Forces, Major General Ali Abdollahi promised that Iran will respond militarily to threats from enemies with "crushing and punishing responses" as well as "devastating ones." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian, speaking to ISNA, said that it would be better to end this war now, when America is powerful and has dignity. The world will acknowledge our victory, and recognize the fact that America, in violation of all laws, attacked our schools, hospitals and infrastructure, and is hated around the world. In comments made late Thursday to Iranian and Iraqi entrepreneurs, Iran's parliament Speaker,?Mohammad Baqer Qalibaf acknowledged the strains on Iran's economic system. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
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RPT-US and Iran continue hostile rhetoric in advance of new sanctions
The United States, Iran and China exchanged defiant e-mails ahead of the scheduled announcement on Monday of new U.S. sanctions that may?impact Iran and its most important trading partners such as China. The war was approaching six months and the two sides weren't exchanging fire, but they also didn't pursue peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran and urging China's cooperation with Washington. According to data from 2025, the analytics firm Kpler estimates that China purchases more than 80% (or all) of Iran's oil. Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the United States was about to announce new economic sanctions against Iran and that this would be an "assertion extraterritorial sovereignty over every independent member of the United Nations". In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." U.S. President Donald Trump said that Washington is watching "what happens" during the conflict. He has previously warned that any country providing "any type of support to Iran" will face economic consequences. Trump said that Iran would like to do a deal but is not yet ready to make it. HORMUZ TRAFFIC HALTED The U.S. effectively blockedaded?Iranian ships in their ports while the Strait?Hormuz remained bottled-up with thousands of seafarers stranded aboard hundreds of vessels. Ship-tracking data revealed that only four commodity ships were sailing along the strait Thursday. None of these vessels were large crude carriers or LNG tankers. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a period of seven days. This is down from over 20 million barrels per day prior to the war, or one out of every five oil barrels consumed globally. U.S. strikes have destroyed Iran's navy and air force and severely damaged its economy, but Tehran still has enough drones and missiles to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set out at the beginning of the war, such as dismantling Iran’s nuclear program, the status of which is still uncertain, given that the U.N. inspectors have been shut out since 2025. Since 2025, inspectors are not allowed to enter Iran. On the first day of the war, 168 Iranian schoolchildren were killed. More than 750 U.S. military personnel have been wounded, and 18 have died. The Iranian Economy is Damaged On Friday, the chief of staff for Iran's Armed Forces, Major General Ali Abdollahi promised that Iran would respond militarily to threats from its enemies with "crushing and punishing responses." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian, speaking to the ISNA news agency, said: "It is better to end the war now, when we have the power and dignity and when the whole world recognizes our victory. America has attacked our schools and hospitals and infrastructure, and is hated around the world." Mohammad Baqer Qalibaf is the main negotiator for Iran in the mediated talks between the U.S. and the Iranian parliament. He acknowledged the strains on Iran's economic system to Iranians and Iraqis late Thursday. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
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RPT-US and Iran continue hostile rhetoric in advance of new sanctions
The United States, Iran and China exchanged a series of defiant messages in advance of the announcement on Monday of new U.S. sanctions which could have a significant impact on Iran and its most important trading partners. The war was approaching six months and the two sides weren't exchanging fire, but they also didn't pursue peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran and urging China's cooperation with Washington. According to data from 2025, the analytics firm Kpler estimates that China purchases more than 80% (or more) of Iran's oil. Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the United States was about to announce new economic sanctions against Iran and that this would be an "assertion extraterritorial sovereignty over every independent member of the United Nations". In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." U.S. President Donald Trump said that Washington is watching "what happens" during the conflict. He has previously warned that any country providing "any type of survival line to Iran" will face economic consequences. Trump said that Iran would like to do a deal but is not yet ready to do the right one. HORMUZ TRAFFIC HALTED Although the U.S. effectively blockedaded?Iranian ships in their ports the Strait of 'Hormuz remained bottled-up with thousands of seafarers stranded aboard hundreds of vessels. Ship-tracking data revealed that only four commodity ships were sailing along the strait Thursday. None of these vessels were large crude carriers or LNG tankers. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a period of seven days. This is down from over 20 million barrels per day prior to the war, or one out of every five oil barrels consumed globally. U.S. strikes have destroyed Iran's navy and air force and severely damaged its economy, but Tehran still has enough drones and missiles to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set out at the beginning of the war, such as dismantling Iran’s nuclear program, the status of which is still uncertain, given that the U.N. inspectors have been shut out since 2025. Since 2025, inspectors are not allowed to enter Iran. On the first day of the war, 168 Iranian schoolchildren were killed. More than 750 U.S. military personnel have been wounded, and 18 have died. The Iranian Economy is Damaged On Friday, the chief of staff for Iran's Armed Forces, Major General Ali Abdollahi promised that Iran would respond militarily to threats from its enemies with "crushing and punishing responses." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian, speaking to the ISNA news agency, said: "It is better to end the war now, when we have the power and dignity and the whole of the world recognizes our victory." Mohammad Baqer Qalibaf is the main negotiator for Iran in the mediated talks between the U.S. and the Iranian parliament. He acknowledged the strains on Iran's economic system to Iranians and Iraqis late Thursday. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
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US and Iran continue to use hostile rhetoric in advance of new sanctions
Iran and the United States exchanged defiant messages before Monday's announcement of new U.S. sanctions that could affect Iran and its most important trading partners, including China. The war was approaching its'six-month mark when the sides stopped exchanging fire and also halted peace talks. Oil shipments have been virtually stopped through the Strait of Hormuz as Tehran holds on to its leverage, threatening to hit any unauthorised oil tankers who attempt to cross the narrow waterway. Scott Bessent, U.S. Treasury secretary, will hold a news conference on Monday at 2 pm EDT (1800 GMT), promising to unveil "the most severe sanctions in history" against Iran. He also wants China to work with Washington. According to data from the analytics firm Kpler, China will buy more than 80% (or roughly $600 billion) of Iran's oil by 2025. Beijing urged diplomacy. Esmaeil baghaei, spokesperson for Iran's Foreign Ministry, said that the impending announcement by the United States of new economic sanctions against Iran is an "assertion?extraterritorial sovereignty over every independent member of the United Nations". In a blog post on X, he stated that "Such secondary sanctioned have no basis in international law." Donald Trump, the U.S. president who has warned of economic consequences for any country providing "any type" of "lifeline to Iran," stated on Friday that Washington is observing "whatever happens" in this conflict. Trump said that Iran would like to do a deal but is not ready to do the right one. HORMUZ TRAFFIC HALTED Despite the fact that the U.S. effectively blockedaded Iranian vessels from entering their ports, a bottleneck remained in place at the Strait of Hormuz with thousands of seafarers stranded aboard hundreds of vessels. Ship-tracking data revealed that only four commodity ships were sailing along the Strait of Hormuz on Thursday. None were large crude carriers, or liquefied gas tankers. Energy Secretary Chris Wright of the United States said that the U.S. Military helped move an average of 8,000,000 barrels of oil per day through the Strait in a period of seven days. This is down from over 20 million barrels per day prior to the war, or one out of every five oil barrels consumed globally. U.S. strikes have destroyed Iran's navy and air force and severely damaged its economy, but Tehran still has enough missiles and drones to attack regional rivals and impede oil tanker travel. Trump has not yet achieved the objectives he set out at the beginning of the war, such as dismantling Iran’s nuclear program - which is still uncertain, given that U.N. Inspectors have been'shut out' since 2025 – and creating conditions for Iranians overthrow their clerical leaders. On the first day of the war, 168 Iranian children were killed. More than 750 U.S. military personnel have been wounded, and 18 people have died. The Iranian Economy is Damaged On Friday, the chief of staff for Iran's Armed Forces, Major General Ali Abdollahi promised that Iran would respond to any military threats from its enemies with "crushing and punishing responses." Masoud Pezeshkian, the president of Armenia, called for a diplomatic resolution. Pezeshkian told the ISNA news agency that it would be better if the war ended today when the United States was able to demonstrate its power and dignity. The world will also acknowledge our victory, as well as the fact that America has violated all laws and regulations by attacking our schools, hospitals and infrastructure. Mohammad Baqer Qalibaf is the main negotiator for Iran in the?mediated negotiations with the U.S. He acknowledged the strains on Iran's economic system in remarks to Iranian and Iraqi businesses late on Thursday. Qalibaf told the official news agency IRNA that "no matter how much power we have in terms of military, we will not survive without food for our people, financial turnover, economic development and national production." (Reporting and writing by Kanishka Singa and Ismail Shakil, Editing by Cynthia Osterman).
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US cuts deep Colorado River water to California, Nevada and Arizona
U.S. government finalized on Friday a plan for reducing?water supply to California, Nevada, and Arizona in order to manage the drought-stricken Colorado River, but left open the possibility that the cuts could be even deeper later in the decade. According to the plan, the three states in the lower basin will receive a reduction of 21% in water in 2027-2028. However, the cuts could double in future years. Arizona and Nevada said that any plan to double cuts after 2028 will destroy their economies. Arizona has threatened the federal government with a lawsuit if they impose these potential cuts in the new 10-year plan. Colorado, Utah and Wyoming, the states in the upper basin, are not subject to mandatory cuts. Colorado River water is used by one in ten Americans. It irrigates the land that produces 15% of U.S. agricultural output. And it generates power for six million people across seven states. In 1922 the river's governing agreement allocated water roughly equally to both basins. However, California, Arizona, and Nevada historically used more water. This was a major point of contention. Arizona Governor Katie Hobbs praised the federal government's decision to adopt the Lower Basin proposal for water reductions in 2027-2028. She said that the 10-year plan of the federal government did not provide water to Lower Basin states as they were entitled. She called Upper Basin's refusal of negotiating reductions in their water use "reckless." Hobbs stated in a press release that Arizona is prepared to defend our water with any legal means possible and will not back down when defending our rights. Upper Basin States refused to accept any cuts in water supply during three years of failed negotiation between the seven states. They argued that the severe drought affecting the U.S. West was causing them to run out of water. This month, Lake Powell and Lake Mead - the two nation's largest reservoirs - reached record lows. On Thursday, the water level in Lake Powell was 3,519.2 ft above sea level -- just 30 ft above the minimum required to run the Glen Canyon Dam hydroelectric plant in Arizona. According to a proposal from the Lower Basin States made on May 1, their water allocation will be reduced by combined 1.6 millions acre-feet each year in 2027 and 2028. The three states have agreed to conserve water by a combined amount of 3.2 MAF in two years. This is based on a mandatory cut of 1.25 MAF each year and reducing the consumption of water by 700,000 MAF in two years. If necessary to maintain critical levels of reservoirs, the annual mandatory cuts for the three states can almost double up to 3.0 MAF each year. A lawsuit over these potential cuts could lead to more uncertainty. California Governor Gavin Newsom stated that all seven states who depend on the Colorado River must conserve water. Newsom stated in a press release that the plan only provides "short-term stability". "Any long-term solutions must be shared fairly among all seven states to recognize the new reality of the Colorado River." Sarah Porter, a hydrologist, still believes that Arizona will sue the federal Government over its plan for 2029-2036. She said that the state was not happy with the Bureau of Reclamation assessing its authority to?cut water deliveries from Lake Mead?to Lower Basin states and not impose compulsory cuts on upper basin?states. Porter, director at the Kyl Center for Water Policy, Arizona State University, said that the Bureau of Reclamation has made it "clear" that, if reservoir levels fall to certain points in the future, they may take further cuts, limit Lake Powell releases, or other actions far beyond the Lower Basin's agreement. Reporting by Nichola Hay and Andrew Hay from Los Angeles; Additional reporting by Jasper Ward from New York; Editing done by David Gregorio
Copper prices rise on the back of falling inventories
On 'Monday, copper prices rose to their highest level in over a week as lower oil prices eased concerns about the economy and demand. The market was also focused on shrinking inventories.
Benchmark copper on the London Metal Exchange increased 0.6% to $13,875 per metric ton, after reaching $13,900. This was its highest price since July 22. The drop in oil after U.S. president Donald Trump cancelled a new attack on Iran to?seek a deal?to curb Tehran's nucleonic ambitions also eased concerns about price pressures, according to traders.
Britannia Global Markets stated in a report that "the markets are still headline-driven at the start of the week with energy markets as the primary focus."
The fundamental picture for copper appears to be supportive. Both the London Metal Exchange and China Metal Exchange have depleted inventories.
The copper stocks registered by the?LME have dropped nearly 40% since May, to 244,025 tonnes. This is their lowest level since February.
Since February of last year, producers and traders have shipped copper to the United States, after President Donald Trump threatened import duties, creating a premium over LME copper prices.
Zinc was up 0.9% to $3,676 per ton, after reaching a record high of $3703.50, a level not seen in four years, on concerns over supply on the LME.
Three?large holdings in cash contracts and warrants (#LMEWHC) created large premiums for nearby zinc 'contracts against forwards with longer dates. A large short on zinc futures #LMEFBR> matured this month, which reinforced the trend.
The premium or "backwardation" for zinc cash over the three-month ahead
LME zinc stock has dropped to 99.285 tons (0#MZNSTXLOC>), down by 25% since mid-June.
Other metals saw aluminium gain 0.8%, to $3,210 per ton. Lead fell 0.3%, to $1,871. Tin increased by 0.4%, to $55,500, and nickel dropped 1.3%, to $17 020.
(source: Reuters)