Real-time News

The International Monetary Fund (IMF) says the energy shock from the Middle East wars is not over yet; global debt pressures are mounting and the process of inflation falling has stalled.

On September 10th, Guan Zhi'ou, Secretary of the Hubei Provincial Party Committee, met with Robin Li, founder, chairman, and CEO of Baidu Group, in Wuhan. Guan Zhi'ou expressed his hope that Baidu Group would continue to deepen its presence in Hubei and strengthen cooperation in areas such as artificial intelligence and geospatial information to achieve mutual benefit and win-win development. Hubei will adhere to the principle of "responding to every request and not interfering unnecessarily," striving to create a first-class business environment and provide favorable conditions for Baidu Group's development in Hubei.

On September 10th, Vitol Group CEO Russell Hardy and several traders attending a meeting in Singapore this week stated that refined petroleum product exports through the Strait of Hormuz are slowly recovering, but the pace is insufficient to stem soaring fuel prices, which are squeezing global consumers. At least 1 million barrels of refined petroleum products are currently transported daily through this disputed waterway in the region. Data from tanker tracking agency Vortexa shows similar levels, compared to approximately 4 million barrels per day (excluding liquefied petroleum gas) before the war. According to traders at the Singapore meeting, part of the slow recovery in fuel shipments in the region is due to the difficulty in finding tankers to load cargo. Despite the risk of attacks, some shipowners are still willing to transport crude oil through the Strait of Hormuz because soaring Very Large Crude Carrier (VLCC) freight rates make the voyages profitable. However, refined petroleum products are typically transported by smaller vessels, requiring more voyages and posing greater risks. According to two people familiar with the company's operations, Saudi Aramco exports approximately 500,000 barrels of refined petroleum products per day, but the majority of these are shipped from refineries along the country's Red Sea coast. These sources say the company has shipped very little fuel from Rastanura, a major export point in the Persian Gulf, to date, as it remains difficult to charter tankers willing to serve the route. Exports from Yemen are also under pressure due to the threat posed by the Houthi rebels in the Red Sea.

On September 10, the Israel Defense Forces (IDF) issued a statement saying that it killed Ismail Ibrahim Darwish Qandir, a member of Hamas's Nuhba forces, in an operation conducted on September 7 in Khan Younis, southern Gaza Strip. The IDF stated that Qandir had participated in the October 7, 2023 attack and was directly involved in the operation that resulted in the death of an IDF commander from the Nahar Brigade.

Goldman Sachs has raised its Q4 2026 forecast for TTF natural gas prices to €70 per megawatt-hour.

On September 10, Qatari Prime Minister and Foreign Minister Mohammed bin Salman spoke by phone with Saudi Foreign Minister Faisal to discuss bilateral cooperation and the latest regional situation. Prime Minister Mohammed stated that Qatar supports all diplomatic efforts to seek solutions that guarantee freedom of navigation at sea and to create conditions for a comprehensive agreement and lasting regional peace. Recent regional tensions have persisted, severely disrupting shipping in the Strait of Hormuz, while the situation in Yemen has escalated again, with the Houthi rebels launching a military operation along the Red Sea coast, further impacting shipping safety in the Bab el-Mandeb Strait.

The yield on UK 5-year government bonds rose 14 basis points to 4.94% on the day, on track for its biggest one-day gain since July 8.

According to the Islamic Republic of Iran Broadcasting (IRIB), the chairman of Yemen's Supreme Political Council stated that the situation in the coastal region of Taiz is stable. He added that Saudi-backed armed groups will receive amnesty if they lay down their arms.

On September 10th, to further stimulate private investment, the principal official of the Private Enterprise Bureau of the National Development and Reform Commission chaired a symposium with relevant private enterprises and industry associations to listen face-to-face to the problems, obstacles, and suggestions encountered by enterprises in the investment process. Focusing on the investment intentions of private enterprises, a number of investment projects were promoted at the meeting to actively guide private capital participation in construction. A total of 36 projects were promoted, focusing on four key areas: transportation, logistics, water conservancy, and energy, with a total estimated investment of 61.4 billion yuan and a planned introduction of 15.6 billion yuan of private capital. These projects cover various types, including railways, warehousing, wind power, energy storage, charging facilities, and water diversion projects. Private capital can participate through various means such as sole proprietorship, holding, and equity participation in project companies.

House Democrats sent a letter to U.S. auto safety regulators demanding measures be taken to address the misuse of Tesla's Autopilot and FSD features, citing videos of drivers sleeping while driving.

A spokesperson for the Houthi rebels in Yemen stated that the operation will cease when the attacks on Yemen end and the blockade is lifted.

According to Politico: OpenAI seeks to ensure that its models do not compromise power grid safety.

According to Politico: OpenAI has held discussions with power companies regarding ensuring grid security.

The White House announced that it will issue $500 refunds to nearly one million Americans for their Obamacare benefits.

Polish Prime Minister Tusk: We expect more attacks on border crossings, similar to the situation on the border between Ukraine and Moldova.

On September 10th, European Central Bank (ECB) President Christine Lagarde emphasized the uncertainty of the outlook at her post-policy press conference. Following Thursday's hawkish statement, financial markets are now almost evenly divided on whether the ECB will raise interest rates again next month. The ECB raised rates by 25 basis points to 2.5% on Thursday, in line with expectations. However, according to LSEG data, the probability of a rate hike on October 29th is currently 49%; if not, the probability of a hike before December 17th is 89%, and the probability of the deposit rate reaching 3% before Christmas is 36%. ECB staff raised their inflation forecasts for 2027 and 2028, citing inflationary pressures from the Middle East conflict, and also raised their GDP growth forecasts for 2026 and 2027, citing "the eurozone economy's resilience exceeding expectations." The ECB stated that the outlook remains highly uncertain, a point Lagarde attempted to convey at her post-policy press conference. She said the uncertainty is so great that the situation could change overnight—for example, with rising diesel prices. "We simply cannot predict what will happen next," Lagarde said.