Oil prices barely changed as fears of tariffs' impact on demand balanced the threat of supply disruption from Russia. Brent and WTI futures rose slightly, but are expected to increase by 4.9% and 6.4% respectively by the end of the week.
Tariffs imposed by US President Donald Trump cost Apple $800 million in the June quarter. The company's projected costs for the September quarter are $1.1 billion.
French swimmer Leon Marchand became world champion for the third time in the 200-meter individual medley, clocking 1:53. 68. This happened the day after he set a world record in the same event.
China's capital suffered from extremely heavy rainfall, which caused the death of 44 people in the city, as well as the disappearance of 9. The Beijing authorities admitted gaps in their readiness for extreme weather conditions. In total, according to media reports, about 60 people died in northern China.
Global gold demand, including over-the-counter trading, increased by 3% year-on-year to 1248. 8 tonnes in the second quarter of 2025. Gold investments increased by 78%, and spot prices reached a record $3500 per troy ounce.
Oil prices rose after Donald Trump's statement about introducing measures against Russia and tariff threats to countries trading Russian oil. Brent futures rose to $72.09, and WTI to $69.97.
Donald Trump plans to introduce import duties for countries that buy Russian oil. This will be a new tool to pressure Moscow, which is circumventing sanctions.
US President Donald Trump announced the imposition of 25% tariffs on goods from India, accusing the country of buying Russian weapons and energy. This decision, which will take effect on August 1, also includes an additional penalty.
The US Treasury Secretary warned China about high tariffs on Russian oil, but Beijing declared the protection of energy sovereignty. China remains the largest buyer of Russian oil, despite the threat of sanctions.
Chinese leader Xi Jinping insists on a meeting with US President Donald Trump. The meeting could take place this year in China or at the White House.
Taiwanese President Lai Ching-te canceled his trip to Latin America after the US opposed his stopover in New York. The Trump administration denied permission for the stopover after objections from China, intensifying concerns about the US position.
US President Donald Trump expressed hope for a meeting with Chinese leader Xi Jinping by the end of the current year. Earlier, Trump stated that he was not seeking a special meeting, but had received an invitation to visit China.
The US negotiating team is returning to Washington for a meeting with President Donald Trump regarding the extension of tariffs for China. Trade representative Jamison Greer stated that a decision on suspending tariff changes after August 12 has not yet been made.
In northern China, including Beijing, 543. 4 mm of precipitation fell from July 23 to 28, almost equal to the annual norm, causing floods and landslides. As a result of the bad weather, at least 38 people died, more than 80,000 were evacuated, and the infrastructure suffered significant damage.
On July 29, Bitcoin broke the $119,000 mark, trading sideways for most of July. Markets are awaiting the results of US trade negotiations with the EU and China by August 1.
Donald Trump said he was not seeking a meeting with Xi Jinping, but was ready to visit China only at his invitation. Earlier, the Trump administration denied the Taiwanese president a stopover in New York after objections from China.
Spot gold was at $3311. 33 an ounce, hitting its lowest level since July 9. This comes amid easing concerns about a global trade war and a strengthening dollar, which reduced gold's appeal as a safe-haven asset.
Brent and WTI crude futures fell after the US-EU trade deal, which averted a full-scale trade war. The market awaits the US Federal Reserve's decision on interest rates and negotiations between the US and China.
On the night of July 28-29, 2022, Russia committed a terrorist act in the Olenivka colony, where about 50 Ukrainian prisoners of war were killed and about 140 were wounded. In Ukraine, July 29 is the Day of Remembrance for Fallen Soldiers of the Special Operations Forces.
The Trump administration did not allow Taiwan's President Lai Ching-te to stop over in New York on his way to Central America after protests from China. This decision raised concerns about a softening of the US position towards China.
US Senator Lindsey Graham stated that Russian President Vladimir Putin was mistaken in his calculations regarding Donald Trump. He emphasized that the Kremlin's inability to negotiate indicates a lack of desire to end the war, and Russia's allies must be held accountable.
Audi's after-tax profit in the first half fell by 37. 5% to 1.3 billion euros, marking the third consecutive annual decline. The company lowered its turnover forecast for the current year to 65-70 billion euros, expecting significantly lower sales profitability.
Leaders of Thailand and Cambodia arrived in Malaysia for urgent talks to end the five-day border conflict. Representatives from the USA, China, and ASEAN joined the dialogue, and the initiative for a ceasefire belongs to US President Donald Trump.
Three women will be prosecuted in Lviv region for illegal import and sale of electronic cigarettes from China. The goods, without excise duty or with counterfeit marks, were stored in warehouses in Lviv for further sale.
Heavy rains in northern China have killed four people and left eight missing, forcing thousands to evacuate. Beijing authorities have issued the strongest flood warning as precipitation is expected to continue until Tuesday morning.
The US and China will resume talks in Stockholm on August 12 to try to resolve long-standing economic disputes and extend a tariff truce. Without a deal, global supply chains could face new shocks from a sharp increase in US tariffs.
Russia has depleted its vast stockpiles of Soviet-era weapons, leading to a reduction in supplies from military depots to the front lines to 2022 levels. The country is increasingly dependent on supplies from China, North Korea, and Iran to support its defense industry and army.
Brent and WTI crude futures rose after the US reached a trade agreement with the EU and may extend the tariff pause with China. This dispelled fears about the negative impact of tariffs on economic activity and fuel demand.
Andriy Kovalenko, head of the Center for Countering Disinformation at the National Security and Defense Council of Ukraine, stated that there will be no classic World War III, as the world lives in a state of constant undeclared war. He noted that wars are waged in proxy forms, locally, fragmented, in cyberspace, and in the information field.
Alina Komashchuk won a bronze medal at the World Fencing Championships in Tbilisi, which was her first individual medal at a world championship. The Ukrainian athlete defeated several strong opponents, losing in the semifinals to a Polish sabre fencer.
