News

Belarusian President Lukashenko: Myanmar is an important and promising partner for Belarus in Southeast Asia.

European Central Bank: Negotiated wages in the Eurozone grew by 2.44% year-on-year in the second quarter, down from 2.56% in the first quarter.

According to the Wall Street Journal, the Trump administration will take steps to revoke the American Bar Association's power to accredit law schools. A U.S. Department of Education report states that the American Bar Association's accreditation body lacks independence from the legal profession.

Saudi Crown Prince Mohammed bin Salman will travel to Paris on Sunday for an official visit and meet with French President Emmanuel Macron.

Market news: Amid drought-induced supply disruptions, British food companies are urging Prime Minister Burnham to take action to address cost issues.

Market news: Iraq has sent a minister to Saudi Arabia to discuss OPEC production issues.

UBS Global Wealth Management raised its 2027 mid-year target price for the S&P 500 from 8,200 to 8,400.

UBS Global Wealth Management has raised its year-end 2026 target for the S&P 500 to 8,100, up from 7,900 previously.

Iraqi Prime Minister: Iraq plans to increase oil production to 8-10 million barrels per day within six years. A ministerial committee has been dispatched to Saudi Arabia to discuss expanding Iraq's OPEC production quota.

Ukrainian President Zelensky: The Ukrainian military attacked a Russian oil refinery in Perm and the Malinovka military airbase in the Volgograd region.

The initial value of the UK's manufacturing and service industry PMI in August will be announced in ten minutes.

Iran is facing increasing economic pressure from US sanctions and a maritime blockade, and concerns about the impact on its people are growing as food prices rise and access to foreign currency becomes more difficult. Ali Akbar Darani, a researcher at the Tehran Center for Strategic Studies, says these measures are hitting Iran, but are unlikely to force Tehran to yield. He believes that after decades of economic pressure, Iran has developed a certain capacity to cope. Darani says Washington's strategy is based on the assumption that increasing economic costs will eventually force Iran to concede. However, he says Tehran is responding through a combination of military and non-military measures, including exerting pressure in the Strait of Hormuz and seeking support from allies elsewhere in the region. "Iran's strategy is based on asymmetric warfare," he says, arguing that Tehran cannot confront the US at the conventional military level and must constantly adopt new tactics and expand the geographical scope of the confrontation. Darani says the conflict has spread from Iran and the Gulf region to the Levant and the Red Sea, and could escalate further in the future. He describes Iran's current strategic posture as an "offensive military strategy, not a defensive one." He stated that Tehran is developing plans to increase the cost of continued U.S. pressure and prevent Washington's blockade strategy from succeeding.

The Hang Seng Index (HSI) closed up 310.97 points, or 1.21%, at 26,009.46 on Friday, August 21. The Hang Seng Tech Index closed up 65.63 points, or 1.4%, at 4,766.16 on Friday, August 21. The Hang Seng China Enterprises Index closed up 86.5 points, or 1.01%, at 8,634.34 on Friday, August 21. The Hang Seng Red Chip Index closed up 81.48 points, or 1.93%, at 4,292.35 on Friday, August 21.

Sources say India has sent dozens of removal notices to Google in recent months, demanding action on the abuse of the Firebase platform.

European Central Bank: Revenue growth is expected to be 1% over the next year, down from the previous forecast of 1.1%.

The European Central Bank's 3-year CPI forecast for the Eurozone in July is 2.7%, compared to a previous forecast of 2.80% and a previous reading of 2.80%.

The European Central Bank's July 1-year CPI forecast for the Eurozone is 2.9%, down from 3.00% previously.

The Eurozone's preliminary composite PMI for August was 52.1, below the expected 51.7 and the previous reading of 52.

The Eurozone's preliminary services PMI for August was 51.7, below the expected 51.5 and the previous reading of 51.7.

The Eurozone's preliminary manufacturing PMI for August was 52.8, below the expected 51.8 and the previous reading of 51.9.