Category: 2. World

  • 1000 people killed in a landslide in Darfur, Sudan – RADIO PAKISTAN

    1. 1000 people killed in a landslide in Darfur, Sudan  RADIO PAKISTAN
    2. Hundreds killed in Sudan landslide, UN says  BBC
    3. Over 1,000 killed in landslide in western Sudan village, armed group says  CNN
    4. Plea for help after landslide wipes out Sudan village, kills 1,000  Dawn
    5. Statement by the United Nations Resident and Humanitarian Coordinator a.i. in Sudan, Luca Renda  ReliefWeb

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  • Putin hails ties with China as Kim Jong-un arrives in Beijing on eve of parade | China

    Putin hails ties with China as Kim Jong-un arrives in Beijing on eve of parade | China

    Vladimir Putin has hailed Russia’s “unprecedentedly” high level of ties with China, as dozens of leaders including the North Korean dictator, Kim Jong-un, arrived in Beijing on the eve of a massive military parade intended to showcase a Chinese-led global order.

    Putin called China’s leader, Xi Jinping, a “dear friend” after the two held talks at the Great Hall of the People and then at Xi’s personal residence. “Our close communication reflects the strategic nature of Russia-China relations, which are at an unprecedentedly high level,” Putin told Xi, according to a video on the Kremlin’s Telegram channel. “We were always together then, and we remain together now.”

    Putin, described by Xi on Tuesday as his “old friend”, is the most prominent of a roster of autocrats who have gathered in China this week for a double bill of events designed to project the might of the world’s second-biggest economy and geopolitical rival to the US.

    Hours after the Putin-Xi talks, Kim arrived in China in an armoured train accompanied by his daughter, Kim Ju-ae, who was making her international debut after years of being seen next to him at domestic events and is considered by South Korean intelligence to be her father’s most likely successor.

    A Kremlin aide told the Russian Interfax news agency that Putin was likely to hold talks with Kim on Wednesday.

    Kim Jong-un disembarks at a railway station in Beijing on Tuesday. Photograph: Pang Xinglei/AP

    At the Victory Day parade on Wednesday, thousands of soldiers are due to march through the streets of the capital in a show of Chinese military might. Rumbling tanks and powerful fighter jets will also be on display for the event, which is being held to commemorate 80 years since the defeat of Japan in the second world war.

    The gathering of global autocrats – leaders from Iran, Myanmar and Zimbabwe will also be present, along with a host of other non-western dignitaries – has been described as the “axis of upheaval” by analysts.

    Putin also met Slovakia’s Moscow-friendly prime minister, Robert Fico, the only EU leader in attendance, whom he praised for his country’s “independent” position. Fico has repeatedly criticised Kyiv and stalled European Union sanctions against Moscow, arguing they put Slovakia’s energy security at risk. Putin suggested that Bratislava cut off gas supplies to Ukraine. “Ukraine receives a significant volume of energy resources through its neighbours in eastern Europe. Shut off gas supplies that go in reverse,” he told Fico.

    On Ukraine, Putin said he had never opposed Ukraine’s potential membership of the European Union. “As for Ukraine’s membership of the EU, we have never objected to this … As for Nato, this is another issue.” The Russian president also said he had no intention of attacking Europe.

    Putin’s comments on the Russia-China relationship came as the two countries signed a deal that will sharply increase Beijing’s imports of Russian gas over the next 30 years. Putin and Xi agreed to build the Power of Siberia 2 gas pipeline, which will allow the transit of 50bn cubic metres of gas to China each year.

    China’s purchases of Russian energy and the booming bilateral trade between the two countries have been an economic lifeline for Moscow since the start of the war in Ukraine.

    Xi Jinping, fourth from left, speaks with the Iranian president, Masoud Pezeshkian, fourth from right, at the Great Hall of the People in Beijing on Tuesday. Photograph: Parker Song/AP

    The pipeline will travel through Mongolia. Like Putin, Mongolia’s president, Khurelsukh Ukhnaa, was in China for the annual Shanghai Cooperation Organisation summit, which took place in Tianjin on Sunday and Monday.

    Xi said on Tuesday: “The more chaotic the international situation becomes, the more China, Russia and Mongolia should strengthen solidarity and cooperation.”

    Chinese state media reported on Tuesday that Putin and Xi signed more than 20 bilateral cooperation documents during talks in Beijing. China also announced it would extend visa-free travel privileges to Russian passport holders, starting from 15 September.

    India’s prime minister, Narendra Modi, also attended the SCO summit, in a sign that China-India relations are thawing after the imposition of heavy US tariffs on Indian exports.

    Kim arrived in Beijing for the parade on a specially armoured train, in his first visit to China since 2019. It is also the first time since 1959 that a North Korean leader has attended an international event of this scale.

    Kim’s trip comes after a period in which ties between Russia and North Korea have deepened, with Pyongyang sending tens of thousands of troops to fight for Russia in the war in Ukraine.

    About 600 North Korean soldiers have been killed fighting for Russia in the Kursk region, according to South Korea’s intelligence agency, which believes Pyongyang is planning another deployment.

    Xi, speaking at the SCO summit on Monday, proposed a “global governance initiative”, the latest in a slew of Chinese “global initiatives” to reshape the world order according to principles favoured by Beijing.

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  • Live: Commemorative gala for China’s 80th anniversary of victory

    Live: Commemorative gala for China’s 80th anniversary of victory

    China hosts a commemorative gala at the Great Hall of the People to mark the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War. The commemorative gala centers on key historical nodes and moments that saw China as the main battlefield in the Eastern theater during the World Anti-Fascist War. Attendees include Party and state leaders, war veterans, representatives of merit and honor recipients, and grassroots public representatives. 

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  • China’s Victory Day military parade: Who’s attending and why it matters | Military News

    China’s Victory Day military parade: Who’s attending and why it matters | Military News

    China is hosting a major military parade in capital Beijing on Wednesday, marking 80 years since the end of World War II.

    In the country’s largest ever military parade, Chinese President Xi Jinping will welcome world leaders including Russian President Vladimir Putin and North Korean leader Kim Jong Un, presenting China’s military prowess and vision for the future.

    Here is what to expect from the parade, and why it is significant.

    What time does China’s Victory Day parade start?

    The event will begin on Wednesday at 9am (01:00 GMT), according to China’s state-run Xinhua news agency.

    The last time China hosted a victory day military parade was 10 years ago. That was the first time China organised a grand military parade to commemorate the end of the war.

    What could we expect?

    The parade will be a presentation of Chinese military might, comprising a choreographed showcase of advanced military equipment such as drones, hypersonic missiles and fighter jets.

    Hundreds of People’s Liberation Army (PLA) aircraft will be displayed in the parade, according to Chinese military officials.

    State media reported that 80 buglers will be present at the parade, marking the 80 years since the defeat of Imperial Japan in World War II.

    More than 1,000 musicians will be sat in 14 rows, representing each year of China’s resistance since Japan’s invasion of Manchuria in 1931.

    Spectators in Tiananmen Square will be seated on chairs coloured green, red, and gold, which symbolise fertile land, the sacrifices of the people, and peace, respectively, according to China’s state broadcaster, CCTV.

    The “Victory Day” parade will feature 45 troop contingents and is expected to last about 70 minutes as they march past Xi in Beijing’s Tiananmen Square. Xi is also expected to make a speech.

    China scaled up security across Beijing starting in August, when the rehearsals for the parade kicked off.

    Who will be attending?

    The military parade will be attended by 26 foreign leaders, China’s Assistant Foreign Minister Hong Lei said during a news conference on August 28.

    Putin is already in China, having attended the Shanghai Cooperation Organisation summit in Tianjin on Sunday and Monday.

    Other leaders who travelled to China for the SCO summit or related meetings, and will stay for the September 3 parade, include Myanmar military chief Min Aung Hlaing, Iranian President Masoud Pezeshkian, Pakistani Prime Minister Shehbaz Sharif, Mongolian President Khurelsukh Ukhnaa, Uzbek President Shavkat Mirziyoyev and Belarusian President Alexander Lukashenko.

    But others are joining them, too.

    North Korea’s Kim arrived in China early on Tuesday after his armoured train crossed the North Korea-China border, the state-controlled Rodong Sinmun newspaper reported.

    It is the first time a North Korean leader will attend a Chinese military parade in 66 years. The last North Korean leader to attend a military parade in China was North Korea’s founder and Kim’s late grandfather, Kim Il Sung, in 1959.

    Only two European leaders, Slovakian Prime Minister Robert Fico and Serbian President Aleksandar Vucic, are set to attend the event in Beijing.

    While Slovakia is part of the European Union and NATO, Fico has pushed for closer ties with Russia and visited Moscow for talks with Putin in December 2024. Vucic, like Fico, has been critical of sanctions against Russia over its war in Ukraine and has recently visited Moscow.

    Why does China hold a Victory Day parade and what does it commemorate?

    The German invasion of Poland in 1939, which resulted in Britain and France declaring war on Germany, is commonly considered in the Western world as the point when World War II started.

    But Asia had been facing the brunt of Japanese aggression for several years by then.

    After the invasion of Manchuria in 1931, Japanese and Chinese troops – primarily under Chiang Kai-shek’s Kuomintang (KMT) and the Chinese Communist Party (CCP) – engaged in a series of skirmishes. But at the time, the KMT and the CCP were also locked in the first phase of their own civil war for control of China, and Japan made major advances.

    Then, in July 1937, Japanese and Chinese troops clashed outside of Beijing. Within days, this burgeoned into a full-blown conflict – by then, the KMT and CCP had agreed to a united front against the Japanese that would last until the end of the war in 1945.

    The Japanese military began to invade eastern cities, including Nanjing, killing thousands of civilians, destroying villages and raping women. The CCP and KMT continued to resist. Some estimates say that 20 million Chinese people died as a result of the war, a majority of them civilians.

    In 1941, the United States, under Democratic President Franklin D Roosevelt, imposed an oil embargo on Japan. In December 1941, the Japanese army launched a surprise attack on the US Pacific Fleet at Pearl Harbor in Hawaii, causing damage and casualties, and drawing the US into the war.

    In the 1940s, Japan captured other parts of Asian countries as well, including parts of modern-day Indonesia, Malaysia and Myanmar, and parts of present-day India.

    In 1945, the US Air Forces dropped an atomic bomb on the Japanese city of Hiroshima and three days later, on the city of Nagasaki. After this, the Soviet Union also declared war on Japan.

    Japan formally surrendered on September 2.

    The CCP and KMT resumed their civil war, with the communists under the leadership of Mao Zedong, finally emerging victorious in 1949, when Chiang and his remaining KMT troops fled to Taiwan, setting up a parallel government there.

    In 2014, the Chinese government declared September 3, the day after Japan’s surrender, as Victory Day.

    In 2015, the CCP acknowledged the sacrifices made by KMT soldiers during the war, inviting veterans to attend the military march back then. At the time, Taiwan was ruled by the KMT – which, despite their historical tensions, has long sought closer relations with mainland China under the CCP.

    Since 2016, however, Taiwan has been ruled by the Democratic Progressive Party (DPP), which has been assertive about the self-governing territory’s sovereignty. China, which insists that Taiwan must be reunited with the mainland, has been critical of the DPP.

    Against that backdrop, Wednesday’s parade is expected to highlight the CCP’s role in defeating Japan.

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  • The Israeli Army Is Struggling to Get Reservists to Show Up | World News

    The Israeli Army Is Struggling to Get Reservists to Show Up | World News

    TEL AVIV—As the Israeli military prepares for a new offensive on Gaza City, military commanders are struggling to find enough reservists willing to report for duty.

    PREMIUM
    Israeli soldiers overlooking destroyed buildings in the northern Gaza Strip last month.

    Israeli troops are exhausted after nearly two years of fighting on several fronts, and more are questioning the purpose of the war. As the military is now calling up some 60,000 reservists from their jobs, studies and families to support the new mission, many are saying they are at a breaking point, according to more than 30 officers and soldiers who were interviewed by The Wall Street Journal.

    Some commanders have turned to unusual methods to find enough men.

    “I’m looking for combat soldiers, mainly medics and snipers for an operation of 70 days starting on September 11. If there are reservists who are interested please message me privately,” read one recent message by a commander on a WhatsApp group for Israeli university students.

    The Israeli military said that it maintains operational preparedness and works to support its reservists, who it describes as essential to the success of its missions.

    The shortage has been developing for months and tracks with growing Israeli discontent over the war. Many polls show as much as 80% of the Israeli public want Prime Minister Benjamin Netanyahu to strike a deal that will end the war and bring the hostages home. Thousands of Israeli military veterans and reservists have signed petitions to stop the fighting and return the hostages.

    It marks a sharp shift from how most reservists felt after the Hamas-led Oct. 7, 2023, attack that launched the war. In the days following the attack, many reservists voluntarily showed up to fight, believing the battle was to save their country. But that belief has gradually crumbled as the war drags on and reservists find themselves being called up again and again.

    One master sergeant in the 98th commando division, who has fought for 400 days since the start of the war, including long stints in Gaza and Lebanon, said he has come to believe that people are dying for nothing and that Netanyahu is prolonging the war for his own political survival, a widely held view in parts of Israeli society. The prime minister denies the charge.

    The master sergeant recently received a call from the military inquiring if he was available to return for duty for the Gaza City operation. Having spent months fighting in Khan Younis earlier in the war, he says Hamas can’t be completely destroyed because of the way it conducts guerrilla warfare.

    Most Israeli Jews are drafted for mandatory military service in Israel at age 18. Israel keeps a relatively small standing army that it fills out with reservists especially during times of war. Most reservists serve a few weeks a year until the age of 40 or 45 depending on their position. But people can often get exemptions from reserve duty even though it is mandatory.

    Many reservists are also frustrated that the Netanyahu government is pushing for an exemption from military service for Israel’s ultraorthodox minority.

    The Gaza war is now Israel’s longest. It is straining families, as men have to leave their wives, children and jobs for long stretches. It is also taking a psychological toll on many men.

    Dalit Kislev Spektor said her husband, a commander in the reserves, was strained by his accumulated 580 days of service. She recalled how he came home last month in a state of shock after identifying the body of a fellow reservist who had died by suicide.

    Dalit Spektor, whose husband has served for 580 days in Gaza, leads a group called Ima Era that calls for responsible management of the war.Dalit Spektor holds a photo of her husband during a deployment to the Gaza Strip.

    Spektor said that many men in her husband’s 150-man logistical unit have lost their jobs, gotten divorced or faced financial ruin over their prolonged service and now are increasingly questioning the purpose of the fighting in Gaza. Spektor worries that her husband will be called up again.

    “I told him ‘The war is political, because none of us believes in our leadership. If it was up to me, I would ask you not to go,’” said Spektor, who leads a group called Ima Era that calls for responsible management of the war. Several reservists, especially fathers to young children, told the Journal they stopped showing up because their wives couldn’t take it anymore.

    Commanders are trying to find solutions. One company commander who is busy calling up soldiers for a coming tour in September said that he started sending out a form ahead of time where reservists can mark specific dates they aren’t available.

    The online form, which was viewed by the Journal, allows reservists to rank how important their request for leave was from 1 to 5. To ease the burden, the troops will also be moving to a more flexible model where they serve one week followed by a week break for the duration of the 90-day tour, which was just extended.

    Reservists whose current service has been extended because of the operation described feeling frustrated. The Israeli military has said that it plans to extend the service of 20,000 active-duty reservists, on top of the 60,000 who the military is currently calling up.

    The forces taking part in the coming Gaza City operation will be mainly composed of mandatory service soldiers—those who have been called up to complete their three years in the armed forces, according to a military official. This time, reservists will mostly be replacing soldiers in Syria, Lebanon and the West Bank, although some will still serve in Gaza.

    Israeli chief of staff Eyal Zamir opposed a complete occupation of Gaza in a security-cabinet meeting last month in part because of manpower issues, according to a person familiar with the matter.

    A 31-year-old combat engineer whose unit is currently serving in southern Gaza said his service was recently extended until the end of November, affecting both his motivation and that of other soldiers he serves with.

    Israeli soldiers and tanks near the Gaza Strip’s northern border in August.Palestinians look for survivors after an Israeli strike in a Gaza City neighborhood over the weekend.

    He said he asked to be moved to a noncombat role outside of Gaza because his unit commanders were putting soldiers at risk, including in a recent friendly fire incident. He said that his commander wasn’t replaced because of manpower shortages.

    Despite the growing fatigue and doubts about the war, some reservists said they still plan to go back.

    Reservists usually continue to show up for military duty to support their friends who are fighting and because they still identify with the overall mission, said Idit Shafran Gittleman, a senior researcher at the Tel Aviv-based Institute for National Security Studies, who has conducted focus groups with Israeli reservists. As the identification with the mission has dropped dramatically, many continue to go back for their comrades, she said.

    A smaller group of reservists say they have stopped returning for duty because of what they said were ideological reasons, including immoral behavior they have witnessed against Palestinians.

    One reservist said he stopped showing up after he was present when a commander reported that his forces had shot three Gazan women accidentally, killing one, and asking for permission to dump the wounded women in a humanitarian zone. A senior commander agreed to the request. The reservist said he was shocked by the nonchalant way the matter was discussed. He told them he couldn’t serve any more.

    When asked about his comments, the Israeli military said that it continues to work to identify unusual cases that deviate from what is expected of its soldiers, and such cases are examined and addressed through relevant channels.

    “The more question marks there are around the justification of the fighting, the more people will be hesitant to show up,” Gittleman said. “We are very close to the red line.”

    Write to Anat Peled at anat.peled@wsj.com

    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up
    The Israeli Army Is Struggling to Get Reservists to Show Up

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  • China is using the SCO summit and Victory Day parade to showcase its vision of a new world order – Chatham House

    1. China is using the SCO summit and Victory Day parade to showcase its vision of a new world order  Chatham House
    2. Prime Minister participates in the 25th SCO Summit in Tianjin, China  PIB
    3. China, Russia pledge new global order at Shanghai Cooperation summit  Al Jazeera
    4. China’s new world order  Financial Times
    5. Tianjin summit  Dawn

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  • SCO summit: Xi pushes his vision, but is it resonating? – dw.com

    SCO summit: Xi pushes his vision, but is it resonating? – dw.com

    1. SCO summit: Xi pushes his vision, but is it resonating?  dw.com
    2. Tianjin summit  Dawn
    3. China, Russia pledge new global order at Shanghai Cooperation summit  Al Jazeera
    4. China’s new world order  Financial Times
    5. China is using the SCO summit and Victory Day parade to showcase its vision of a new world order  Chatham House

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  • donald trump white house address: Trump to make surprise Oval Office announcement today

    donald trump white house address: Trump to make surprise Oval Office announcement today

    US President Donald Trump will make an announcement from the Oval Office on Tuesday at 2 pm ET, the White House said. Details of the announcement have not been disclosed.

    Sharing this on X, Keith Olbermann wrote: BREAKING: Oh nothing. Just a president who talks compulsively but has not spoken publicly in a week scheduling “an announcement” at 2 PM tomorrow, per Trump official WH schedule and shares the schedule.

    This comes amid Trump’s absence from press interactions and rumours surrounding the health of the 79-year-old Republican president. Last week, wild rumours surrounding his health flooded social media and hashtags like #TrumpIsDead and #WhereIsTrump were one of the most trending searches.
    However, the rumours were crushed when he was spotted on Sunday with his grandchildren as he unwound at his golf course in Northern Virginia. He was photographed leaving the White House and at the golf club. The commander-in-chief was recently diagnosed with chronic venous insufficiency (CVI), visible bruises. But Trump has maintained he is “excellent health”.

    White House Press Secretary Karoline Leavitt had told reporters that they happen from frequent shaking of hands – a major part of the POTUS’s daily schedule.


    ALSO READ: Has Trump really changed his schedule amid health fear rumours? Mystery around MAGA chief’s well-being deepens

    Higher tariffs?

    There has been a flurry of comments from the US regarding India and the ongoing tariff friction in the past 24 hours. Speculations on Trump imposing higher tariffs have become rife as US President has criticised his country’s relationship with India as “very one-sided” and stated that New Delhi had offered to reduce tariffs on US goods to zero. Trump has accused India of fueling Moscow’s deadly attacks on Ukraine by purchasing Russian oil.
    The Trump administration has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, among the highest in the world.
    “What few people understand is that we do very little business with India, but they do a tremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest ‘client,’ but we sell them very little,” Trump said in a post on Truth Social.

    ALSO READ: Did Trump’s niece drop shocking clues and made chilling health revelation? What you need to know

    “They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” he added.

    However, Treasury Secretary Scott Bessent has remarked that the rift between India and the US is short-lived and that both countries will resolve the issue soon.

    According to an AP report, a threat looms on the horizon that Trump may impose 200 percent tariffs on pharmaceuticals. However, nothing official has been announced about this bitter pill. Jefferies analyst David Windley, quoted by AP, explained in a recent report that tariffs scheduled to take effect in late 2026 might not impact markets until 2027 or even 2028, as companies could rely on stockpiled supplies.

    ALSO READ: Trump dead rumours: When White House offered head-scratching excuse for President’s new bruise amid health concerns

    Is Trump resigning?

    With the photos of bruises and makeup on Trump’s hand going viral on social media, there has been speculation about his health. But since the White House circular emerged online, several users have been asking the same question: Will Trump step down?

    The mystery announcement has drawn significant attention, especially after rumors of Trump’s death spread across social media last week. The buzz began when a Simpsons clip went viral on Instagram, with a narration claiming that “the President is expected to die in August 2025 from a severe chest illness.”

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  • Foreign Secretary Vikram Misri underscores UN reform, counter-terrorism at SCO Plus Meeting in Tianjin

    Foreign Secretary Vikram Misri underscores UN reform, counter-terrorism at SCO Plus Meeting in Tianjin



    ANI |
    Updated:
    Sep 02, 2025 15:55 IST

    New Delhi [India], September 2 (ANI): Foreign Secretary Vikram Misri attended the SCO Plus Meeting in Tianjin on September 1, where he underlined the importance of United Nations reform, stressed the need to keep counter-terrorism a priority, and reiterated India’s commitment to sustainable development.
    In a post on X, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal shared details of the Foreign Secretary’s participation.

    “Foreign Secretary @VikramMisri attended and delivered his remarks at the SCO Plus Meeting in Tianjin on 1 Sept 2025. He stressed on the need for UN reform, reaffirmed that fight against terrorism should remain an important priority of the SCO and highlighted India’s readiness to share its expertise & initiatives for sustainable development with the SCO partners,” Jaiswal said in the post.
    Misri’s remarks at the SCO Plus Meeting came a day after he stated that Prime Minister Narendra Modi had raised the issue of cross-border terrorism with Chinese President Xi Jinping during their bilateral meeting on the sidelines of the SCO summit in Tianjin on August 31.
    At a special Ministry of External Affairs briefing, Misri told reporters, “The issue of cross-border terrorism was raised by the Prime Minister…he asked for China’s support on this particular issue. As I said, the Chinese have extended their support in various ways in addressing this issue.”
    He further elaborated, “The issue of cross-border terrorism was raised by the Prime Minister, and he outlined his understanding very crisply and very specifically. He outlined the fact that this is a scourge that both China and India have been victims of, and India is still combating this menace, and he asked for China’s support on this particular issue. As I said, the Chinese have extended their support in various ways on addressing this issue.”
    Further, Misri also noted that, “Among other issues, the two leaders also exchanged views on ways to increase and balance bilateral trade, strengthen people-to-people ties, cooperate on trans-border rivers, and jointly combat terrorism.” (ANI)


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  • Investors look to key jobs report

    Investors look to key jobs report

    Treasury yields jumped on Tuesday to begin September trading as a court decision knocking down most of the Trump administration’s tariffs raised the prospect of the government having to repay the money already brought in, stretching an already-stressed U.S. fiscal situation.

    The benchmark 10-year Treasury yield rose 5 basis points to 4.281%. The 30-year bond yield climbed more than 5 basis points to 4.977%. The 2-year Treasury yield moved 3 basis points higher to 3.658%. One basis point is equal to 0.01%, and yields and prices move in opposite directions.

    At their highs of the session, the 30-year yield topped 4.97%, its highest since late July. The 10-year hit a high of 4.279%, its highest since Aug. 27. The jump in yields was hitting the stock market with the Dow Jones Industrial Average down more than 500 points.

    Rates overseas were also jumping with 30-year yields in Germany hitting their highest since 2011. French long-bond yields hit their highest since 2009.

    U.S. President Donald Trump’s tariffs are in focus after a federal appeals court on Friday ruled that most of his global tariffs are illegal. The court determined in a 7-4 ruling that only Congress has the power to implement sweeping levies. Trump responded that the decision was “highly partisan” and that he will be appealing the ruling to the U.S. Supreme Court.

    “The core Congressional power to impose taxes such as tariffs is vested exclusively in the legislative branch by the Constitution,” the court said. The duties remain in place for now, however.

    While Trump’s tariffs had initially raised worries about inflation, driving yields higher, the market view changed over the summer with bond investors heartened by the revenue raised from the duties. Tariffs are set to bring in $172.1 billion in 2025, according to the Tax Foundation, which would be a nice financial boost to a country with a ballooning budget deficit.

    “If this ruling is upheld, refunds of existing tariffs are on the table which could cause a surge in Treasury issuance and yields,” wrote Ed Mills of Raymond James in a note.

    Stock Chart IconStock chart icon

    U.S. 30-year Treasury yield, YTD

    U.S. yields seemed to be following overseas rates higher, which were increasing for different reasons.

    “A new wave of sovereign risk is washing over European economies, with the UK and France most vulnerable as they navigate fiscal fragility, political instability, and cratering bond market confidence,” wrote Ed Yardeni, president and chief investment strategist with Yardeni Research, in a note.

    On the tariff ruling, Yardeni wrote, “The Bond Vigilantes might start acting up again if they can no longer look forward to a significant reduction in the federal deficit attributable to tariff revenues.”

    Investors will also be anticipating some key economic data this week, namely the nonfarm payrolls report and unemployment rate for August, set to be released Friday morning. It will influence the Federal Reserve’s interest rate decision later this month.

    ISM’s reading of manufacturing strength Tuesday showed contraction, but was a bit better than expected.

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