World News Live Updates: US Treasury Asks Banks To Monitor Chinese Networks For Fentanyl Funds

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Last Updated:August 28, 2025, 19:45 IST

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Stay informed with our World News Live Blog — your real-time window into global events. From major geopolitical developments and scientific breakthroughs to royal family updates and cultural milestones, we bring you fast, factual, and curated updates as they happen. Whether it’s unfolding conflicts, diplomatic shifts, climate alerts, or key moments in international politics, our live blog keeps you ahead of the news curve. Designed for readers who want both speed and substance, this is your go-to source for staying connected with the world — minute by minute, headline by headline.

Japanese-African Friendship Scheme Sparks Xenophobic Backlash After Misinformation

A Japanese initiative designed to foster closer ties with African nations has sparked a xenophobic controversy after being misrepresented in media reports, according to a report in The Guardian. The Japan Cooperation Agency (JICA) had designated four Japanese cities as “Africa hometowns” for partner countries Mozambique, Nigeria, Ghana, and Tanzania to promote friendship and cultural exchange. However, inaccurate reports suggesting the scheme would lead to a “flood of immigrants” prompted thousands of complaints to the participating cities, transforming the international cooperation effort into a contentious domestic issue.

US Treasury Asks Banks To Monitor Chinese Networks For Fentanyl Funds

The US Treasury Department is directing American financial institutions to increase monitoring for suspected Chinese money laundering networks that are believed to facilitate the fentanyl crisis, according to a report in AP. In an advisory, the Trump administration called on banks and brokers to flag certain customers who fit a profile of potential money launderers for drug cartels. This includes scrutinizing individuals such as Chinese nationals, including students and retirees, who possess unexplained wealth or are unwilling to provide information about the source of their funds. The directive highlights the administration’s focus on disrupting the financial mechanisms that fuel the spread of fentanyl across the US.

Vietnam Showcases Economic Ambitions With New Hanoi Exposition Center

Vietnam is showcasing its economic progress and global aspirations with the opening of the new Vietnam Exposition Center in Hanoi’s Đông Anh District, a facility reported to be the largest of its kind in Southeast Asia, as per a report in AP. The 90-hectare center’s inaugural event, an exhibition titled “80 Years of Independence – Freedom – Happiness,” has already attracted tens of thousands of visitors. This major infrastructure development is a cornerstone of Vietnam’s strategy to significantly boost its MICE (Meetings, Incentives, Conferences, Exhibitions) tourism sector, attract substantial foreign investment, and solidify its position as a key regional hub for international business and trade.

Gambian Fishermen Clash With Foreign Vessels Over Dwindling Fish Stocks

Intensifying conflicts, including violent attacks, are breaking out between local fishermen and foreign-owned vessels in Gambian waters due to the severe depletion of fish stocks, according to a report in AP. The desperation has led to a ‘sea war’ where local fishermen are attacking foreign industrial trawlers and sometimes each other, as exemplified by a recent arson attack that severely injured a local fisherman. These clashes are driven by widespread illegal, unreported, and unregulated (IUU) fishing by foreign fleets, which has decimated local fish populations, threatened the livelihoods of coastal communities, and caused the price of fish—a key protein source—to become unaffordable for many Gambians. The situation is exacerbated by a lack of effective law enforcement against these violations, allowing foreign operators to exploit the region’s marine resources with little punishment.

Russia Advances in Kupiansk, Rejects US Push for Zelenskyy-Putin Summit

Russian forces are intensifying their offensive in northeastern Ukraine, extending their encirclement of the city of Kupiansk, as per a report in Al Jazeera. Concurrently, Moscow has conducted a deadly attack on the capital, Kyiv. On the diplomatic front, Russia has rejected a US-backed push for a summit between President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.

Iran Threatens To End Nuclear Cooperation If UN Sanctions Return

An Iranian diplomat warned it would “make no sense” for Tehran to continue working with nuclear inspectors from the Atomic Energy Agency (IAEA) if broad United Nations sanctions are reimposed, as per a report in AP. This statement raises tensions amid stalled diplomatic efforts to revive the 2015 nuclear deal (JCPOA) and follows Iran’s significant expansion of its nuclear program, which includes enriching uranium to 60% purity. The threat specifically refers to a potential reinstatement of multilateral UN sanctions, distinct from the unilateral US sanctions currently in place. Such a move would severely undermine international oversight of Iran’s nuclear activities, escalating regional instability and posing a significant challenge to global non-proliferation efforts.

Malaysia To Host RCEP Summit In October To Bolster Regional Trade

Malaysia is set to host a summit in October for the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free-trade bloc, as per a report in the South China Morning Post. The meeting, initiated by Malaysian Prime Minister Anwar Ibrahim, aims to deepen economic integration among the 15 member nations, which collectively represent 30% of the global economy. This strategic move is framed as an effort to counter the economic impact of US tariffs and other global headwinds by accelerating the reduction of trade barriers and strengthening regional supply chains under the RCEP framework, which has been in effect since 2022.

Teenager Sentenced To Seven Years For 2022 Attack On Colombian Senator

A teenager in Colombia has been sentenced to seven years in a juvenile detention center for the attempted murder of Senator Miguel Uribe and for illegal possession of weapons, Al Jazeera says in a report. The attack occurred in Bogotá in June 2022, when Uribe was a presidential pre-candidate; he is currently a Senator for the Democratic Center party. The case draws attention to ongoing security risks for political figures in the country, which can affect political stability and the investment climate. It also brings focus to Colombia’s juvenile justice system and its handling of serious crimes committed by minors.

Lego To Double Down On Asian Market After Posting Record Sales

Danish toymaker Lego will double down on its expansion in the Asian market after posting record half-year sales figures, according to a report in South China Morning Post. The company announced revenue of 34.6 billion kroner (US$5.4 billion) for the first half of 2025, an increase from US$4.8 billion in the same period last year. Lego’s consumer sales also grew by 13 percent, and the company noted it had expanded its market share in all major geographies. The strategic focus on Asia, including markets like India and Vietnam, is intended to sustain this growth momentum.

Polish President Vetoes Bill Extending Welfare For Ukrainian Refugees

Polish President Andrzej Duda has vetoed legislation aimed at extending social welfare benefits for Ukrainian refugees residing in the country, Deutsche Welle said in a report. The decision affects hundreds of thousands of individuals who have sought refuge in Poland and raises concerns about the potential cessation of Polish funding for the critical Starlink satellite communications service used by Ukraine. This veto occurs amid existing tensions between Poland and Ukraine over issues such as agricultural imports and border blockades.

Suspended Thai Prime Minister Testifies In Ethics Case

Thailand’s suspended Prime Minister, Paetongtarn Shinawatra, testified in a Bangkok court on Thursday in a case that could lead to her permanent removal from office, AP said in a report. She is accused of breaching an ethics law by allegedly making a phone call to a Cambodian official to discuss a border dispute, an action critics say bypassed official diplomatic channels. This case is separate from the one that led to her initial suspension in August 2024. If found guilty, Shinawatra could be disqualified from her role and face a ban from politics.

Eli Lilly Pauses Mounjaro Shipments To UK Ahead Of Major Price Increase

US pharmaceutical company Eli Lilly has paused shipments of its weight-loss drug Mounjaro to the UK, a move that precedes a planned list price increase of up to 170% in September, according to a report in The Guardian. The decision exacerbates existing supply shortages in the UK, where the drug is approved for both type 2 diabetes and weight management. This action is occurring amid unprecedented global demand for GLP-1 agonist drugs and is seen as part of a broader pharmaceutical industry strategy to offset revenue pressures in the US market, which have been influenced by policies like the Inflation Reduction Act.

All NATO Members Meet 2% Defence Spending Target, But Only Three Meet New Goal

All member nations of the NATO alliance are now meeting the defence spending threshold of 2% of their GDP for the first time, a significant milestone since the target was established in 2014, according to a report in Deutsche Welle. However, only Poland, Lithuania, and Latvia are currently fulfilling the alliance’s more recent commitment to treat 2% as a minimum expenditure, or a “floor, not a ceiling,” a standard agreed upon at the 2023 Vilnius Summit. The broad-based increase in military budgets across the alliance is a direct response to heightened security concerns following Russia’s 2022 invasion of Ukraine, strengthening NATO’s collective deterrence and readiness.

Rwanda Confirms Arrival Of First Seven Deportees From The US

Rwandan authorities confirmed on Thursday that the first group of seven deportees arrived from the United States in mid-August under a bilateral agreement, AP said in a report. Government spokeswoman Yolande Makolo stated that the individuals were part of a group of “vetted migrants.” This transfer is the first under a deal where Rwanda has agreed to accept up to 250 deportees from the US, positioning the East African nation as a key partner for Western countries managing migration.

Main Highway To Syria's Sweida Reopens For Aid After Recent Violence

The main highway connecting Damascus to the southern Syrian city of Sweida reopened to an aid convoy on Thursday for the first time since a major outbreak of violence last month, AP said in a report. The recent clashes, which involved Syrian government forces and local Bedouin tribesmen against fighters from the local Druze minority, resulted in hundreds of deaths and displaced tens of thousands of people. The conflict, which also saw allegations of executions by government-allied fighters, had disrupted the country’s fragile recovery from its nearly 14-year civil war and blocked critical humanitarian access to the region.

Algerian UN Envoy Reads Deported Palestinian Journalist's Letter At Security Council

During a United Nations Security Council session on the Middle East, Algeria’s Ambassador Amar Bendjama delivered an address where he read a farewell letter from Palestinian journalist Mariam Abu Daqqa to her son, Al Jazeera says in a report. The letter was written following Abu Daqqa’s forced deportation by Israeli authorities from the West Bank, where her son resides, to the Gaza Strip. The reading was intended to highlight the impact of Israeli policies on Palestinian families and freedom of movement before the international diplomatic body.

Iranian Ambassador Leaves Australia After Diplomatic Ties Severed

Iran’s ambassador to Australia, Ahmad Sadeghi, was seen departing the country on Thursday, marking a complete rupture in diplomatic relations between the two nations, as per a report in AP. The move comes just two days after Australian Prime Minister Anthony Albanese announced the severing of ties with Iran. The decision was based on findings from Australian intelligence officials who accused Tehran of having masterminded at least two antisemitic arson attacks within Australia.

Dentsu Explores Sale Of Arm Amid AI And Economic Pressures

Japanese advertising group Dentsu is reportedly exploring the sale of its international business, a strategic shift that could raise billions of dollars and reverse its long-standing global ambitions, as per a report in Financial Times. This potential divestment of Dentsu , which comprises all its non-Japanese operations built largely on the 2013 acquisition of Aegis Group, comes as the advertising industry grapples with significant pressures. These challenges include the rapid integration of Artificial Intelligence (AI) automating traditional services, reduced ad spending by global brands due to macroeconomic uncertainty, and increased competition from both in-house marketing teams and consulting firms. A sale would signal a major strategic pivot for Dentsu, likely leading to a renewed focus on its domestic Japanese market.

Switzerland's Highest Court Upholds Tariq Ramadan's Rape Conviction

Switzerland’s federal court has upheld the conviction of prominent Islamic scholar Tariq Ramadan for rape and sexual coercion, as per a report in AP. The nation’s highest court rejected Ramadan’s appeal, which had cited alleged procedural flaws and an ‘arbitrary assessment’ of evidence by a Geneva appeals court that had previously convicted him. This final ruling in the Swiss legal system solidifies the conviction, which is separate from other ongoing legal challenges Ramadan faces in France over similar allegations.

Nigeria Bans Raw Shea Nut Exports To Boost Local Processing Industry

Nigeria’s government has banned the export of raw shea nuts, an essential raw material for many cosmetic products, in an effort to grow its domestic economy and become a global supplier of refined shea butter and other skincare ingredients, as per a report in AP. Vice President Kashim Shettima announced that the immediate ban will be in place for six months before being reviewed. This policy aligns Nigeria with other West African nations, including Burkina Faso, Mali, and Ghana, that have implemented similar restrictions to encourage local value addition and capture a larger share of the profitable global shea market.

Global Rise In Online Age Checks Sparks Debate Over Internet Freedom And Privacy

Online age verification systems requiring ID or face scans are becoming more common in the US and other countries, driven by new regulations aimed at protecting children from adult content, AP says in a report. Major legislative pushes, including state-level laws in the US and broader frameworks like the EU’s Digital Services Act and the UK’s Online Safety Bill, are compelling platforms to implement these checks. While proponents advocate for these measures as necessary for child safety, opponents and digital rights groups express significant concern. They argue that the proliferation of such systems creates major privacy and security risks, could lead to widespread surveillance, and may curtail internet freedom by potentially blocking access to essential information like news and health resources for those unable or unwilling to provide sensitive data.

US And China To Commemorate WWII Cooperation At USS Hornet Museum

A joint event commemorating the 80th anniversary of the Allied victory in World War II will take place at the USS Hornet Sea, Air & Space Museum on August 30, highlighting the shared history of US and Chinese forces during the conflict, as per a report in AP. The commemoration is set to bring together guests from both nations, including scholars and descendants of military commanders who served in the China-Burma-India Theater. Family members of US General Joseph Stilwell, who was a prominent American commander in that theater, are expected to be in attendance.

European Tech Scene Sees Unicorn Boom in AI, Biotech, and Defense

Over ten European startups have achieved unicorn status—a valuation of $1 billion or more—so far this year, signaling resilience in specific sectors despite a broader global slowdown in venture capital, according to a report in TechCrunch. This growth is primarily concentrated in high-demand fields, with investors showing significant interest in biotechnology and defense technology. The most dominant area for investment, however, is artificial intelligence, reflecting a global surge in funding for AI-native companies that has positioned Europe as a key hub for innovation and high-value tech firms.

US And China To Commemorate WWII Cooperation At USS Hornet Museum

A joint event commemorating the 80th anniversary of the Allied victory in World War II will take place at the USS Hornet Sea, Air & Space Museum on August 30, highlighting the shared history of US and Chinese forces during the conflict, as per a report in AP. The commemoration is set to bring together guests from both nations, including scholars and descendants of military commanders who served in the China-Burma-India Theater. Family members of US General Joseph Stilwell, who was a prominent American commander in that theater, are expected to be in attendance.

Study Finds Deforestation Caused Over Half A Million Heat-Related Deaths In 20 Years

A new study has found that deforestation in the tropics has resulted in over half a million heat-related deaths in the last 20 years, averaging 28,330 deaths annually, according to a report in The Guardian. Researchers identified that land clearance in regions like the Amazon, Congo, and Southeast Asia leads to localized temperature increases by reducing shade, diminishing rainfall, and heightening fire risks. These findings underscore the direct human cost of environmental degradation and carry significant implications for public health systems in affected countries, which face an escalating burden from heat-related illnesses. The study also adds urgency to international environmental policies, highlighting a critical gap between deforestation pledges and their effective implementation.

Regional Missile Race Intensifies As India's Focus Shifts To China

The strategic missile competition in South Asia is escalating, involving not just the historical rivalry between India and Pakistan but also a significant focus by India on China’s military advancements, Al Jazeera says in a report. This shift is driven by China’s rapid development of hypersonic missiles and the expansion of its nuclear arsenal, as well as persistent tensions along the Line of Actual Control (LAC) since 2020. In response, India has advanced its own capabilities, highlighted by the successful test of its Agni-5 missile with MIRV technology in March 2024. The dynamic creates a complex, three-way security challenge that heightens risks of miscalculation and places economic strain on the nations involved due to significant resource allocation for defense.

New Zealand Super Fund Shifts Investment Focus To Europe From US

The New Zealand Super Fund is making a strategic shift in its investment strategy, favoring European equities over those in the US, according to a report in Financial Times. This move by the highly-regarded sovereign wealth fund signals a waning confidence in the long-term outlook for American stocks, which are perceived as having high valuations, particularly due to concentration in a few large technology companies. The reallocation is a bet on European markets, which have underperformed their US counterparts for over a decade and are now seen as trading at an attractive discount. The fund’s decision highlights a broader trend of institutional investors seeking geographical diversification to mitigate risk and find better long-term value.

Study Finds Deforestation Caused Over Half A Million Heat-Related Deaths In 20 Years

A new study has found that deforestation in the tropics has resulted in over half a million heat-related deaths in the last 20 years, averaging 28,330 deaths annually, according to a report in The Guardian. Researchers identified that land clearance in regions like the Amazon, Congo, and Southeast Asia leads to localized temperature increases by reducing shade, diminishing rainfall, and heightening fire risks. These findings underscore the direct human cost of environmental degradation and carry significant implications for public health systems in affected countries, which face an escalating burden from heat-related illnesses. The study also adds urgency to international environmental policies, highlighting a critical gap between deforestation pledges and their effective implementation.

Meituan Shares Plunge Amid Escalating Chinese Delivery Price War

Meituan’s shares experienced a significant decline as competition in China’s on-demand delivery market intensifies, with rivals Alibaba and JD.com escalating a price war to capture market share, Financial Times says in a report. The battle is concentrated in the on-demand local services sector, which includes food, grocery, and instant retail delivery, where consumers expect rapid service. This heightened competition, occurring amidst a broader economic slowdown in China, is placing considerable pressure on Meituan’s profit margins and valuation. While consumers benefit from lower prices, the price war increases financial risks for investors and may negatively impact the earnings of delivery riders.

European Companies Signal Interest In Ukraine's Reconstruction

European companies are increasingly signaling interest in future reconstruction projects in Ukraine, with many referencing the opportunity in recent earnings calls, according to a report in the Financial Times. The potential for private sector involvement is significant, with a World Bank-led assessment in February 2024 estimating the total cost of recovery at $486 billion over a decade. This corporate interest is bolstered by initiatives like the EU’s €50 billion Ukraine Facility and the development of war risk insurance mechanisms designed to de-risk private investment. However, while planning and due diligence are underway, large-scale investment remains cautious due to the ongoing conflict and security risks, with the opportunity largely contingent on improved security and governance frameworks.

New Zealand Super Fund Shifts Investment Focus To Europe From US

The New Zealand Super Fund is making a strategic shift in its investment strategy, favoring European equities over those in the US, according to a report in Financial Times. This move by the highly-regarded sovereign wealth fund signals a waning confidence in the long-term outlook for American stocks, which are perceived as having high valuations, particularly due to concentration in a few large technology companies. The reallocation is a bet on European markets, which have underperformed their US counterparts for over a decade and are now seen as trading at an attractive discount. The fund’s decision highlights a broader trend of institutional investors seeking geographical diversification to mitigate risk and find better long-term value.

Iranian Officials Protest Partial Return Of UN Nuclear Inspectors

The partial return of inspectors from the Atomic Energy Agency (IAEA) to Iran has been met with protests from some officials in Tehran, The Guardian says in a report. These officials claim the readmission breaches Iranian law, likely referencing a 2020 act that mandated reduced international oversight. Senior Iranian diplomat Abbas Araghchi sought to address the backlash by clarifying that the inspectors would not be visiting sites recently damaged in incidents Iran attributes to Israel and the US, and that discussions regarding access to these locations have not yet occurred.

Regional Missile Race Intensifies As India's Focus Shifts To China

The strategic missile competition in South Asia is escalating, involving not just the historical rivalry between India and Pakistan but also a significant focus by India on China’s military advancements, Al Jazeera says in a report. This shift is driven by China’s rapid development of hypersonic missiles and the expansion of its nuclear arsenal, as well as persistent tensions along the Line of Actual Control (LAC) since 2020. In response, India has advanced its own capabilities, highlighted by the successful test of its Agni-5 missile with MIRV technology in March 2024. The dynamic creates a complex, three-way security challenge that heightens risks of miscalculation and places economic strain on the nations involved due to significant resource allocation for defense.

Paris Extends Public Swimming In Seine River For Two More Weeks

Paris has extended its trial of public swimming in designated areas of the Seine River for an additional two weeks until mid-September, The New York Times says in a report. The move follows a century-long prohibition on swimming in the river due to severe health risks from pollution. This development is the result of a multi-billion euro, decades-long cleanup effort, which included major infrastructure upgrades aimed at improving water quality. The project was initially spurred by the city’s hosting of open-water swimming events for the 2024 Olympic Games, and the successful trial is seen as a validation of the investment, potentially boosting tourism and serving as a model for other cities revitalizing urban waterways.

Regional Missile Race Intensifies As India's Focus Shifts To China

The strategic missile competition in South Asia is escalating, involving not just the historical rivalry between India and Pakistan but also a significant focus by India on China’s military advancements, Al Jazeera says in a report. This shift is driven by China’s rapid development of hypersonic missiles and the expansion of its nuclear arsenal, as well as persistent tensions along the Line of Actual Control (LAC) since 2020. In response, India has advanced its own capabilities, highlighted by the successful test of its Agni-5 missile with MIRV technology in March 2024. The dynamic creates a complex, three-way security challenge that heightens risks of miscalculation and places economic strain on the nations involved due to significant resource allocation for defense.

Paris Extends Public Swimming In Seine River For Two More Weeks

Paris has extended its trial of public swimming in designated areas of the Seine River for an additional two weeks until mid-September, The New York Times says in a report. The move follows a century-long prohibition on swimming in the river due to severe health risks from pollution. This development is the result of a multi-billion euro, decades-long cleanup effort, which included major infrastructure upgrades aimed at improving water quality. The project was initially spurred by the city’s hosting of open-water swimming events for the 2024 Olympic Games, and the successful trial is seen as a validation of the investment, potentially boosting tourism and serving as a model for other cities revitalizing urban waterways.

Paris Extends Public Swimming In Seine River For Two More Weeks

Paris has extended its trial of public swimming in designated areas of the Seine River for an additional two weeks until mid-September, The New York Times says in a report. The move follows a century-long prohibition on swimming in the river due to severe health risks from pollution. This development is the result of a multi-billion euro, decades-long cleanup effort, which included major infrastructure upgrades aimed at improving water quality. The project was initially spurred by the city’s hosting of open-water swimming events for the 2024 Olympic Games, and the successful trial is seen as a validation of the investment, potentially boosting tourism and serving as a model for other cities revitalizing urban waterways.

Paris Extends Public Swimming In Seine River For Two More Weeks

Paris has extended its trial of public swimming in designated areas of the Seine River for an additional two weeks until mid-September, The New York Times says in a report. The move follows a century-long prohibition on swimming in the river due to severe health risks from pollution. This development is the result of a multi-billion euro, decades-long cleanup effort, which included major infrastructure upgrades aimed at improving water quality. The project was initially spurred by the city’s hosting of open-water swimming events for the 2024 Olympic Games, and the successful trial is seen as a validation of the investment, potentially boosting tourism and serving as a model for other cities revitalizing urban waterways.

Malawi Faces Critical Tuberculosis Drug Shortage After Aid Cuts

Malawi is on the verge of a public health crisis, with health officials warning that national supplies of tuberculosis (TB) drugs will be depleted by the end of September following aid cuts from the US, UK, and other donor countries, according to a report in The Guardian. The impending shortage threatens to reverse a decade of significant progress, during which the country successfully reduced TB cases by 40%. Clinics are now being forced to ration essential drugs and testing, putting current patients at risk of treatment failure and drug resistance, and jeopardizing a public health program heavily reliant on international funding.

Hedge Fund Investment in Insurance Threatens Market Stability, Warns Munich Re

Global reinsurance giant Munich Re has voiced concerns over the growing influx of private capital from hedge funds into the insurance sector, Financial Times says in a report. This “insurance binge” is primarily channeled into Insurance-Linked Securities (ILS), such as catastrophe bonds, which transfer risks like natural disasters to capital market investors. While these instruments offer hedge funds diversification and attractive yields, Munich Re warns that this capital could prove volatile. The reinsurer fears that a major catastrophic event could trigger a rapid withdrawal of these funds, leading to a sudden capacity shortage and instability in the pricing of essential catastrophe coverage.

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