Real-time News

On July 12, the Russian Ministry of Defense announced that Russian forces launched a large-scale attack and destroyed multiple Ukrainian military facilities from the night of July 11 to the early morning of July 12. The Ministry stated that Russian forces attacked and destroyed Ukrainian fuel, energy, and transportation facilities, long-range drone storage points, ammunition depots, and temporary deployment points of Ukrainian forces and foreign mercenaries in 158 regions. In the past 24 hours, Russian forces destroyed 585 drones and 11 aerial bombs launched by Ukrainian forces. The acting governor of Belgorod Oblast, Shuvaev, posted on social media on July 12 that in the past 24 hours, Ukrainian forces launched more than 100 attacks on 11 regions of the oblast, resulting in one death and seven injuries. Russian forces intercepted 111 drones. According to Russian media reports, due to the drone attacks, several Russian cities temporarily restricted civilian aircraft takeoffs and landings from the night of July 11 to the early morning of July 12, causing delays to dozens of flights.

July 12th - A Wall Street Journal survey of economists this month showed that the impact of the war with Iran on the US economy is far less severe than economists had previously feared. However, the bad news is that the war has made inflation, already above the Federal Reserve's 2% target, more stubborn and has removed the Fed's room for interest rate cuts. Economists' views have changed significantly compared to the April survey, about a month after the outbreak of the war. Forecasters now expect the US economy to grow by 2.1% this year, based on inflation-adjusted GDP from the fourth quarter of 2025 to the fourth quarter of 2026, up from the 2% forecast in April. Economists' average probability of a recession within the next 12 months has fallen to 25% from 33% in April, the lowest level since early 2025. However, while the growth outlook has improved, concerns about inflation have also intensified. Economists expect the CPI to rise by 3.4% in the 12 months ending in December, up from 3.2% in the April survey. Inflation concerns have outweighed the war's boost to energy costs. Economists predict that PCE inflation, which excludes food and energy and is closely watched by Federal Reserve officials, will rise by 3.2% in 2026, up from 2.9% in April.

July 12th - In response to the impact of the typhoon on communication networks, the Ministry of Industry and Information Technology (MIIT) closely monitored weather changes and network operation, urgently dispatched national emergency communication support teams and equipment, and activated 5G inter-network roaming services to support the communication needs of flood control and disaster relief command centers and affected residents. According to statistics, as of 12:00 on July 12th, the information and communication industry had deployed 68,000 personnel, 24,000 emergency communication vehicles, 31,000 generators, 130 satellite phones, and 27 drones, sending 330 million warning text messages. A total of 11,000 damaged base stations have been restored.

On July 12, Liu Guozhong, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, conducted research in Beijing. He emphasized the need to thoroughly study and implement the spirit of General Secretary Xi Jinping's important instructions and directives, as well as the spirit of the Political Bureau meeting, and to implement the arrangements of the State Council's executive meeting. He stressed the importance of firmly establishing a bottom-line mentality and a mindset of extreme limits, fully implementing political responsibilities, meticulously implementing measures to prevent and respond to torrential rains and floods, making every effort to ensure the safe passage of reservoirs through the flood season, and effectively safeguarding the lives and property of the people.

Ukrainian President Volodymyr Zelensky has proposed replacing Prime Minister Sviridenko.

July 12th - The clearing out of securities brokers may be accelerating. Industry sources indicate varying degrees of enforcement regarding broker elimination. Some local bureaus emphasize standardized elimination processes but lack a unified timetable; regulators will subsequently review the compliance of these processes. Data shows that the number of brokers in the securities industry has decreased by nearly 12,000 since 2025. As early as 2024, regulators conveyed that securities firms should adapt to the transformation towards wealth management and gradually eliminate brokers. Currently, some leading securities firms have largely completed this process, while smaller firms still have a significant number of brokers. Some securities firms have stated that they will accelerate the elimination process by combining leading practices, regulatory guidance, and industry trends, but will adopt a stable approach, such as not renewing contracts upon expiration and performance-based layoffs. They will also simultaneously adjust traditional commission-dependent models to align with the wealth management transformation. During the elimination process, qualified brokers can be transferred to formal positions such as wealth managers or investment advisors. Regarding potential customer attrition, industry insiders believe that given the overall industry is in a broker elimination phase, the overall impact of customer loss will be minimal, with only some regions potentially experiencing minor disruptions.

Iraqi government spokesperson: The Iraqi prime minister will sign several oil and gas memorandums of understanding during his visit to Washington.

Iraqi government spokesperson: The Iraqi prime minister will travel to Washington on Monday.

According to a Wall Street Journal survey, the probability of a U.S. recession has fallen to 25%, down from 33% in April.

According to a Wall Street Journal survey, economists expect U.S. GDP to grow by 2.1% this year, up from 2% in the April survey.

According to a Wall Street Journal survey, economists expect U.S. consumer price index (CPI) inflation to be 3.4% this year, up from 3.2% in the April survey.

Qatar's Ministry of Foreign Affairs: The ongoing Iranian attacks are a serious escalation that will further complicate efforts to contain tensions in the region.

The Russian Ministry of Defense stated that Russian forces shot down 585 drones belonging to the Ukrainian armed forces in the past 24 hours.

July 12 – Jorge Rodríguez, president of the Venezuelan National Assembly, said at a press conference in Caracas, the Venezuelan capital, on July 11 that the two powerful earthquakes that struck the country on June 24 had killed 4,333 people and injured 16,740. Rodríguez stated that the reconstruction efforts are extremely costly, with approximately 25,000 houses awaiting repair. Acting President Delcy Rodríguez is seeking to unfreeze Venezuelan assets seized overseas, including its gold reserves frozen at the Bank of England, for use in the reconstruction efforts.

Israeli Prime Minister Benjamin Netanyahu: (Statement on the death of U.S. Senator Lindsey Graham) Israel has lost one of its greatest friends. The United States has lost a great patriot. I have lost a dear friend.

The UK Maritime Authority: The security threat in the Strait of Hormuz is extremely serious.

July 12th - Typhoon Bavi, the ninth typhoon of the year, made landfall twice in Zhejiang Province, on the night of July 11th and early morning of July 12th, in Yuhuan City, Taizhou, and Yueqing City, Wenzhou. Many areas in Zhejiang Province experienced severe storms and heavy rainfall, causing serious disruption to local production and daily life. On July 12th, the National Disaster Prevention, Mitigation and Relief Committee activated a Level IV national emergency response. To implement General Secretary Xi Jinping's important instructions on flood control and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the disaster losses in Zhejiang Province, the National Development and Reform Commission urgently allocated 100 million yuan from the central budget to support Zhejiang Province in post-typhoon emergency recovery efforts. This funding will primarily be used for the emergency reconstruction of damaged roads, water conservancy infrastructure, and public service facilities such as schools and hospitals in the disaster area, aiming to restore normal production and daily life as quickly as possible.

July 12th - Recently, affected by Typhoon Maysak (No. 10 of this year), many parts of Guangxi have experienced severe rainstorms and floods. To implement General Secretary Xi Jinping's important instructions on flood prevention and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the extent of disaster losses in Guangxi, the National Development and Reform Commission, on top of the 100 million yuan emergency allocation from the central budget on July 6th, has allocated an additional 100 million yuan to support Guangxi in further improving post-disaster emergency recovery efforts and promoting the rapid restoration of normal production and daily life.

The Central Bank of Egypt reported that Egypt's tourism revenue for the period from July to March of the 2025/26 fiscal year was $14.4 billion, an increase from $12.5 billion in the same period last year.