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China's exports increased by 25 percent in August compared to the previous year, driven by strong demand for cars and high-tech products. The trade surplus rose to 119.1 billion US dollars.
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Goldman Sachs experts anticipate oil prices could rise to $120 per barrel. This forecast is due to the tense situation in the Strait of Hormuz, which has reduced shipping traffic to its lowest point since May.
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The eruption of the Anak Krakatau volcano led to the closure of eight airports in Indonesia, resulting in over 2,300 canceled flights affecting more than 268,000 passengers. Schools in affected regions are switching to remote learning.
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Water temperatures in the North and Baltic Seas this summer were 15.6 and 17.2 degrees Celsius respectively, significantly above the long-term average. This can lead to drastic habitat changes, the spread of non-native species, and increased sea levels.
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China is providing 46.1 billion Euros to state banks and insurers to strengthen their balance sheets. The funds aim to improve lending capacity and the ability to support the economy.
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Nepal is observing a national day of mourning following a flash flood on August 26th in the Nepalese-Tibetan border region. The event, likely caused by a glacial collapse, resulted in nearly 1,400 deaths and over 5,000 people are still missing.
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The DAX began weakly, weighed down by concerns over the outcome of the state election in Saxony-Anhalt and rising oil prices. German production fell in July, while the ECB anticipates an interest rate hike.
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Typhoon remnants caused flooding in Japan, resulting in one fatality in Iwaki. Evacuation orders were issued, and the second-highest warning level was declared for parts of Fukushima, Chiba, and Saitama.
Global EconomyClimate ChangeWeather & Natural Disasters
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The World Meteorological Organization (WMO) predicts with almost 100% certainty that El Niño will continue until February 2027. This weather phenomenon, which raises global temperatures, could intensify further and have far-reaching climatic impacts until 2027, including droughts and floods.
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Turkey has raised its inflation forecast for the end of the year to 28.4%. The Middle East war is cited as the main reason for the adjustment, with estimated impacts of around seven percentage points on inflation.
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