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World Today: Key News Highlights for the Day

Here are the noteworthy news topics making headlines today:

1. Kim Jong Un’s Visit to Russia: North Korean leader Kim Jong Un departed from Pyongyang on a private train bound for Russia. He is expected to meet with Russian President Vladimir Putin during his visit, accompanied by senior arms industry officials, diplomats, and military commanders.

2. Inflation Expectations Remain Steady: According to a survey by the Federal Reserve Bank of New York, consumer inflation expectations in August remained largely unchanged. However, views on financial and credit conditions have deteriorated slightly. Consumer expectations for one-year inflation stand at 3.6%, while three-year expectations decreased by 0.1% to 2.8%, and five-year expectations increased by 0.1% to 3.0%.

3. Morocco Earthquake Updates: Moroccan state television reported that the death toll from the recent earthquake has risen to 2,862, with 2,562 people injured. International rescue teams from Spain, the United Kingdom, Qatar, and the United Arab Emirates have arrived in Morocco to aid in relief efforts. The magnitude-6.8 earthquake, the worst in over a century, left over 300,000 people homeless.

4. Bitcoin Slips Ahead of CPI Release: Bitcoin experienced a 2.65% drop, falling close to $25,000 on Coinbase trading, in anticipation of the release of the Consumer Price Index (CPI) data this week. The cryptocurrency market has seen limited liquidity this year, leading to its trading within a narrow range between $25,000 and $30,000.

5. Biden’s Warning on Global Warming: US President Joe Biden issued a stark warning, asserting that global temperatures are on track to rise by more than 1.5 degrees Celsius over the next two decades. He described this trend as a more alarming threat to humanity’s existence than nuclear war.

6. EU Economic Growth Forecast Downgraded: The European Commission (EC), the executive body of the European Union (EU), has revised down its economic growth projections for both the EU and the Eurozone. The EU is expected to grow by 0.8% this year, down from the previous forecast of 1.0%, and by 1.4% next year, down from 1.7%. Similarly, the Eurozone’s growth is projected at 0.8% for this year (previously 1.1%) and 1.3% for next year (previously 1.6%).

7. Fed Officials Enter Blackout Period: Federal Reserve (Fed) officials have entered a “Blackout Period” in which they are prohibited from making public comments or giving interviews about monetary policy. This period will last until after the Fed’s monetary policy meeting (FOMC) on September 19-20. Investors are placing significant weight on expectations that the Fed will keep interest rates steady at this month’s meeting.

8. Apple’s “Wonderlust” Event: Apple enthusiasts are eagerly awaiting the “Wonderlust” event scheduled for today (September 12), where the iPhone 15 is expected to be launched. The event will be broadcast globally on Apple’s website and YouTube channel at 1:00 PM US time, or midnight on September 13, Thai time.

9. Economic Data Releases: Several important economic data releases are expected today. Australia will unveil its September Consumer Confidence Index by Westpac and the August business confidence index from the National Australia Bank (NAB). The UK will reveal the July unemployment rate, while the EU will present the September economic confidence index for the Eurozone. Germany is set to release its September Economic Sentiment Index from the ZEW Institute, and the United States will publish its August Small Business Sentiment Index from the National Federation of Independent Business (NFIB).

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