world-news

Japan is considering tax breaks on gains from selling non-core businesses to encourage corporate restructuring and industry consolidation. Under the proposal, taxes would be deferred when proceeds are reinvested in acquisitions. The initiative could help conglomerates shed underperforming assets and redirect capital towards growth opportunities under Prime Minister Sanae Takaichi.

The United States is preparing to impose a 7.5% tariff on Chinese goods over alleged excess manufacturing capacity, Bloomberg reported. The measure could be announced before President Donald Trump meets Chinese President Xi Jinping next month, potentially increasing trade pressure ahead of talks between the world’s two largest economies again.

India is accelerating its semiconductor ambitions through Semicon 2.0, approved by Union Cabinet on July 15, 2026, with an approximately US$13.3 billion outlay. The programme aims to strengthen chip design and manufacturing as demand rises across electronics, electric vehicles, defence, artificial intelligence, telecommunications, space technology and other strategic domestic industries.

A Russian drone strike on a shopping centre in Kryvyi Rih killed at least 15 people and injured more than 130, including children, according to Ukrainian authorities. The attack comes as Moscow signals willingness to consider new peace proposals while insisting any settlement recognise what Russia calls current realities on the ground.

Shipping through the Strait of Hormuz has fallen to extremely low levels amid the Iran-US conflict, threatening one of the world’s most important energy corridors. Only seven commodity vessels reportedly crossed on Thursday. NATO members are discussing possible measures to support navigation as concerns grow over global oil and LNG supplies.

Iran warned of a “devastating” response to new U.S. threats as Washington prepares what Treasury Secretary Scott Bessent described as the toughest sanctions in history. Tehran said its forces were ready across land, sea, air and cyberspace, while tensions continue over oil shipments through the Strait of Hormuz.

Two US-based Indians, Suhas and Priyanka, have advised young Indians to reconsider moving to America for careers. They argue India’s job, business and investment opportunities have improved sharply, while migration carries emotional costs, including leaving family, rebuilding social circles and struggling to feel fully accepted abroad even after many years.

President Donald Trump has ordered the Pentagon to substantially reduce joint military exercises with South Korea, citing Seoul’s refusal to join the Iran war and his relationship with North Korea’s Kim Jong Un. South Korea says the Ulchi Freedom Shield drills, scheduled through August 27, are currently proceeding as planned.

The UK recorded its hottest day of 2026 at 38.1°C as extreme heat gripped parts of Europe. In Greece, wildfires intensified under gale-force winds, forcing more than 250 tourists to evacuate by boat from Siviri. Forty forest fires were reported nationwide within 24 hours.

British sociologist Jason Arday, who became Cambridge’s youngest Black professor in 2023, was found dead in south London after resigning from the university amid plagiarism allegations and scrutiny of claims about his achievements. Police said his death is not believed to be suspicious. Arday was 41.