Fed Meeting Minutes

According to CCTV News, the Federal Reserve's meeting minutes from July 30-31 indicated that they decided to maintain a slowed pace of interest rate hikes in July, keeping the federal funds rate target range at 5.25% to 5.50%. The minutes also hinted that most officials view September as a potentially suitable time to begin cutting rates, with expectations of at least one more rate cut later this year.

Comoros Joins WTO

The World Trade Organization announced that after lengthy negotiations, Comoros has officially become the 165th member of the WTO, marking a significant step in the country's deeper integration into the international trading system.

South Africa's Inflation Decrease

Data from Statistics South Africa showed that the inflation rate in July fell to 4.6%, the lowest since July 2021, reflecting eased pressures on rising prices.

South Korea Holds Benchmark Interest Rate Steady

The Bank of Korea decided to keep its benchmark interest rate unchanged at 3.5% for the 13th consecutive time, setting a recent record and demonstrating a cautious stance on the current economic situation and inflation outlook.

Philippines and Cambodia Central Banks Collaborate

Central banks of the Philippines and Cambodia signed a Memorandum of Understanding aimed at enhancing cooperation between the two in crucial areas such as payment systems, artificial intelligence, cybersecurity, and sustainable finance.

RMB's International Standing

A report by SWIFT (Society for Worldwide Interbank Financial Telecommunication) revealed that the Renminbi (RMB) continues to hold the fourth position in global payment currencies, accounting for 4.74% of transactions, highlighting the steady progress of RMB internationalization.

Chevron Invests in India

U.S. energy giant Chevron plans to invest approximately $1 billion in Karnataka, India, for the construction of a new research and development center, which is expected to generate hundreds of engineering jobs, underlining its commitment and long-term focus on the Indian market.

LG Electronics Invests in AI Startups

South Korea's LG Electronics announced it will invest $10 million in AI and deep tech-focused startups by participating in the Alpha Intelligence Fund (AIF), thereby fostering technological innovation and industry development.