Here’s a summary of today’s key global news stories:
1. Chevron Seeks Resolution in Australian LNG Plant Strike: Chevron, a prominent U.S. energy company, is poised to submit a letter to Australian labor regulators in an attempt to resolve an ongoing dispute with a union at a liquefied natural gas (LNG) production facility in Australia. Workers at the plant have gone on strike.
2. Thailand Ranks 2nd for Business Startups: Thailand secured the second position out of 85 countries in the 2023 Best Countries for Starting a Business list, according to a Facebook post by the Thai Embassy in Washington, D.C. The ranking is based on a report by U.S. News and World Report.
3. President Biden Denies Blocking China’s Influence: U.S. President Joe Biden refuted claims that the United States is attempting to curb China’s international influence. This statement follows a historic agreement signed with Vietnam.
4. Alrosa Unearths Largest Diamond in a Decade: Russian diamond mining giant Alrosa announced the discovery of a remarkable 390.7-carat diamond of exceptional quality, considered the largest diamond unearthed in the past decade.
5. South Korea’s Export Sales Decline: South Korea’s Customs Service (KCS) reported a 7.9% year-on-year drop in export sales for the first 10 days of September, totaling $14.86 billion. This decline is attributed to the continued decrease in semiconductor exports.
6. Trudeau’s India Departure Delayed Due to Technical Issues: The Prime Minister’s Office of Canada disclosed a delay in Canadian Prime Minister Justin Trudeau’s departure from India. The delay is linked to technical problems affecting the aircraft carrying Mr. Trudeau and the Canadian delegation.
7. U.S. Treasury Secretary Yellen on Inflation Control: U.S. Treasury Secretary Janet Yellen expressed confidence in the United States’ ability to manage inflation without severely impacting the labor market. She also expressed satisfaction with the slowdown in U.S. inflation and the increased labor market participation rate in August.
8. Vitol CEO Warns of Western Sanctions on Russia: Russell Hardy, CEO of Vitol, an oil trading company, cautioned that Western sanctions on Russia could have a more profound impact on the BRICS group, comprising Brazil, Russia, India, China, and South Africa.
9. Myanmar Utilizes Yuan for Russian Petroleum Payments: Myanmar’s Minister of Investment and Foreign Economic Relations, Kan Zaw, revealed that Myanmar employs China’s yuan for transactions involving Russian petroleum products. Both countries are also exploring agreements for transactions conducted in local currencies.
10. Hurricane Lee Strengthens in Atlantic: The U.S. National Hurricane Center (NHC) reported that Hurricane Lee has intensified while moving west-northwest in the tropical Atlantic Ocean. It is expected to generate hazardous surf conditions and rip currents along the U.S. East Coast for at least the next 2-3 days.
11. Biden and Trong Warn Against South China Sea Violence: U.S. President Joe Biden and Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam, issued a warning against the threat or use of violence in the South China Sea. This joint statement follows an agreement to strengthen cooperation and is perceived as a response to China’s expanding influence in the region.