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08.10.26 - 00:27
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15 Economies Sign US-Led Statement Against Industrial Overcapacity; China, Russia, Brazil, Saudi Arabia Sit It Out (ZeroHedge)
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15 Economies Sign US-Led Statement Against Industrial Overcapacity; China, Russia, Brazil, Saudi Arabia Sit It Out
Trade ministers from 15 economies, including the United States, South Korea and Japan, signed a joint statement to build sector-specific platforms addressing manufacturing overcapacity, the U.S. Trade Representative's office said Wednesday, according to Seoul Economic Daily. The effort is effectively directed at China, which did not sign. The statement does not name the country.
Building on the productive discussions at the G20 Trade Ministerial in Milwaukee, fourteen economies joined the U.S. in signing a Joint Ministerial Statement that expresses our collective resolve to work together in new, dedicated sectoral platforms to address structural excess capacity and production in certain manufacturing sectors.https://t.co/HxSOijvjxu
— United States Trade Representative (@USTradeRep) October 7, 2026
USTR said 14 countries joined the United States: South Korea, Japan, Argentina, A...
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07.10.26 - 23:48
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Saudi-Led Forces Claim Ground Advances Against Houthis in Yemen (Bloomberg)
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Yemen's internationally-recognized government, backed by Saudi Arabia, claimed to have regained territory from the Houthis, as fighting in the region near the Bab el-Mandeb strait intensifies. The Yemeni armed forces said they took control of the Red Sea city of Mokha on Monday after battles with the Iran-backed Houthis, according to Saba, a Yemeni news agency. Overnight, the Houthis said the Saudi Arabian military had launched around 60 airstrikes on parts of Yemen, including the capital, Sanaa. The Houthis said they responded by firing missiles and drones at the kingdom, and targeted the main airport in Riyadh.
For a closer look, we speak with Jennifer Welch, Chief Geoeconomics Analyst for Bloomberg Economics. (Source: Bloomberg)...
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07.10.26 - 21:51
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Drei Tote in Saudi-Arabien nach Angriffen auf Flughäfen (DPA-AFX)
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RIAD (dpa-AFX) - In Saudi-Arabien sind drei Menschen bei Angriffen auf Flughäfen des Landes getötet worden. Das teilte die Luftfahrtbehörde am Abend auf der Plattform X mit. Demnach waren die Flughäfen Riad sowie Abha im Südwesten des Königreichs Ziel ......
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07.10.26 - 15:54
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Pakistan, Turkey & Saudi Arabia Trigger Mecca Defense Pact (ZeroHedge)
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Pakistan, Turkey & Saudi Arabia Trigger Mecca Defense Pact
In a historic first, the Mecca Defense Pact between Saudi Arabia, Pakistan and Turkey is now in force, according to the allies at an emergency meeting in Riyadh.
It was only signed in August, but soon after it was formalized an all-out war between the Houthis and Saudi coalition in Yemen erupted, with the Ansar Allah movement now increasingly targeting Saudi civilian infrastructure, including airports and energy infrastructure.
The Monday emergency meeting of foreign and defense ministers resulted in the top committee agreeing to deploy Pakistani and Turkish forces to Saudi territory. The pact is modeled on NATO's Article 5 and 'collective defense'. Saudi authorities have argued the kingdom is under direct attack from neighboring Yemen and its Houthi rebels, backed by Tehran.
via Anadolu AgencyIt marks a quite a dramatic, though somewhat anticipated step, but it remains an open question the degree to which the external troops will d...
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07.10.26 - 04:12
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Brent crosses $101 as Saudi attacks, US storm add to oil supply concerns (Times of India)
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Rising oil prices, now exceeding 1%, raise alarms over potential storm disruptions affecting U.S. oil production and refineries. With Brent crude passing $101 per barrel and WTI crude hitting $90.38, concerns are amplified by supply issues from Saudi Arabia and mixed signals on U.S. inventories. Coupled with ongoing tensions between Saudi Arabia and Yemen's Iran-aligned Houthis, analysts predict sustained high prices unless significant diplomatic progress is made....
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