MON

Iran's president has stated that all Iranian money held in China has been frozen, according to an emerging report circulating on prediction and news platforms. The claim, if confirmed, would have significant implications for Iran's economy, which has relied on Chinese purchases of its oil and credit lines as sanctions limit access to Western financial systems. Details about the amount involved, the reason for the freeze, and Beijing's response remain unclear.

Federal Reserve Chair Jerome Powell says he will stay on the central bank's board of governors after his term as chair expires next month. His term as chair runs out but his separate term as a governor continues into 2028. The announcement comes amid ongoing public pressure from President Trump, who has repeatedly demanded Powell's removal and lower interest rates, raising questions over what role he will play.

Chinese President Xi Jinping missed the dinner for world leaders at the G20 summit in New Delhi because he was unwell, according to people familiar with the matter. The report has fueled fresh speculation about the 70-year-old leader's health, coming just days before he was scheduled to travel to the United States, and has drawn wide attention and debate about his condition and absence from a key diplomatic gathering.

Brent crude rebounded more than 3% on Monday after US President Donald Trump rejected an Iranian peace proposal that would have resolved their conflict and reopened the Strait of Hormuz. With diplomatic efforts in stalemate, tensions in the Middle East remain elevated, keeping traders pricing in supply risk and pushing oil prices higher.

The UN Security Council convened on Monday morning to address a Middle East peace process under strain on two fronts. In the West Bank, settler violence and settlement expansion are fuelling fears of wider escalation, while efforts to advance a plan for Gaza have stalled. Ambassadors discussed the deteriorating situation, with diplomats under pressure to find a path forward on both fronts.

An Italian court on Monday convicted three Egyptian security officials for their involvement in the 2016 kidnapping of Giulio Regeni, the Cambridge University student whose tortured body was found on a Cairo roadside days after he disappeared. The verdict is a landmark in Italy's years-long effort to establish accountability, though Egypt has consistently denied involvement and the defendants were tried in absentia.

Hurricane Polo has intensified to become one of the strongest storms ever recorded, with forecasters linking its unusual strength to El Niño conditions in the Pacific. Warm ocean waters associated with the climate pattern are seen as a key driver behind the storm's rapid strengthening, drawing widespread attention to El Niño's role in extreme weather this season.

Spain's government representative in Ceuta resigned after months of scrutiny over the city's handling of the migration crisis. Ceuta, one of the EU's only two land borders with Africa, bordering Morocco, saw a massive surge in late July when more than 72,000 migrants crossed into the Spanish enclave. The resignation adds pressure on Madrid over its migration and border policy.

Japan is partially turning off the tap of decades of cheap money, moving to support the yen after prolonged currency weakness. The shift in monetary policy is being framed as an effort to defend the currency, with coverage suggesting Washington's position — described as an 'American friend' — played a supporting role in Tokyo's decision to rein in ultra-loose policy.

Doha is mediating renewed talks between the United States and Iran, which are set to continue on Monday and Tuesday. The negotiations, hosted by Qatar, focus on easing tensions between Washington and Tehran. Their continuation signals ongoing diplomatic engagement, and observers are watching closely for signs of progress on outstanding disputes between the two countries.

The United States and Iran are set to hold separate talks with mediators on Monday or Tuesday, according to an official. The indirect format suggests intermediaries will shuttle between the two sides rather than direct negotiations. The development comes amid ongoing tensions over Iran's nuclear programme and regional security, with observers watching for signs of de-escalation or progress toward renewed diplomacy.

The US dollar is trading near its strongest level in two months. A deadlock in US-Iran nuclear talks has pushed up oil prices, adding to inflationary pressure, while traders increasingly expect the Federal Reserve to keep raising interest rates. Higher rate expectations typically strengthen the dollar, and rising energy costs reinforce those bets, keeping the currency firm against major peers.

The US dollar held near a two-month high as the standoff between Washington and Tehran pushed oil prices higher and investors increased bets that the Federal Reserve will raise interest rates. Traders are weighing geopolitical risk in the Middle East against expectations of tighter US monetary policy, both of which are supporting the greenback against major currencies.

Minutes from the Bank of Japan's July monetary policy meeting show policymakers agreed it is appropriate to continue raising interest rates and gradually reduce monetary accommodation, aiming to anchor inflation expectations. The remarks point to a continued tightening path, and markets are weighing what further rate increases would mean for the yen and bond markets.

Hurricane Polo has strengthened to a Category 3 storm and is threatening Mexico's Pacific coast, with landfall expected on Monday. Authorities in coastal states are on alert as forecasts point to damaging winds, heavy rain and possible flooding. Residents are being urged to monitor official warnings and prepare for the storm's arrival.

The Bank of Japan could raise its benchmark interest rate for a second consecutive month at its October board meeting, moving earlier than many economists expect, according to a former executive director who oversaw monetary policy at the central bank. The assessment adds to speculation about the pace of Japan's shift away from ultra-low rates and is drawing attention from markets watching for further tightening.

Israel's Foreign Ministry has summoned Spain's ambassador in response to remarks by Spain's Minister of Youth backing the establishment of a Palestinian state stretching from the Jordan River to the Mediterranean. The diplomatic protest highlights growing friction between Israel and Spain, whose government has taken an increasingly critical stance toward Israel's conduct in Gaza and voiced support for Palestinian statehood.

According to a Wall Street Journal report, AI usage among working-age people has reached 18.8%. The figure highlights how quickly artificial intelligence tools have moved from niche technology into everyday work routines. The report is drawing attention as businesses and policymakers track how widely AI has been adopted across the workforce.

Hurricane Polo has strengthened to a Category 4 storm and is bearing down on Mexico's Pacific coast, with landfall expected on Monday. Authorities in coastal states are expected to brace for damaging winds, heavy rain and storm surge. Forecasters warn the storm could weaken before landfall, but residents are being urged to monitor official advisories closely.