Global Economy

Trump again shared a map labeling the Strait of Hormuz as “NEW US Territory,” escalating tensions with Iran. Tehran says the strategic waterway remains closed until Washington changes course and fulfils its commitments.

The latest tensions follow an Israeli airstrike on Syria's Abu al-Duhur military airbase in Idlib province on August 18.

US Energy Secretary Chris Wright hailed record domestic oil and gas production amid continuing uncertainty in global crude markets

Iran’s Mohsen Rezaei said the Strait of Hormuz will remain closed until the US changes its behaviour and fulfils its commitments, warning regional nations against joining Washington’s economic campaign against Tehran.

The Treasury surprised traders this week with its plan to buy back more debt — touted as a move to improve liquidity of certain older securities, but widely viewed as a move to bring yields down.

Dalio estimates US government revenue at about $5.5 trillion this year against $7.5 trillion in spending, leaving a $2 trillion shortfall. Interest costs alone will be around $1 trillion this year, while about $10 trillion of debt needs to be refinanced.

Trump denied personally directing Bessent's actions when asked directly, adding that the Treasury Secretary had acted on his own initiative.

Oil prices are set for a weekly gain amid rising US-Iran tensions and supply concerns. Brent topped $93 a barrel, while Indian petrol and diesel prices remained largely unchanged across major cities.

Artificial intelligence could add to inflationary pressure in the short term as booming investment strains supplies of key components, Swiss National Bank governing board member Petra Tschudin said.

Although growth rates for both input costs and selling prices are still high, the report indicated that inflation pressures had considerably decreased.

Speaking to the business communityfrom Iran and Iraq, Ghalibaf stated that both nations should develop systems to withstand sanctions and reduce their reliance on the US dollar

China is the biggest buyer of Iranian oil, accounting for more than 80% of Iran's shipped crude in 2025, according to analytics firm Kpler.

The cuts include 120 Seattle-based roles and 104 restructuring positions, while the company expands operations in Nashville.

Brent crude traded above $93 a barrel on Friday and was heading for a weekly rise of more than 5%. West Texas Intermediate for October delivery eased towards $86 a barrel.

US Treasury Secretary Scott Bessent said buybacks of Treasury securities could be more than $4 billion per issue.

The latest exchange comes after Trump escalated economic pressure on Iran, describing his administration's measures as the most crushing economic operation ever imposed on a country.

The ceiling will be reached in mid-2027, Fitch Ratings estimates. The agency on Aug. 13 affirmed the country's AA+ credit rating, while adding to warnings about the current borrowing trajectory.

YouTube has discussed directly financing some programs, and it has also offered to allot a portion of major brand deals to creators.

Goldman Sachs sees a hawkish shift in the RBI's tone, while Bank of America calls the August policy decision a dovish hold. Both brokerages expect 50 bps of rate hikes in FY27, but differ on the timing and reading of the central bank's latest signals.

Brent crude traded below $92 a barrel after rising more than 5% over the previous four sessions. West Texas Intermediate for October delivery was near $84.