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  • Trump thinks Putin is ready to make a deal

    Trump thinks Putin is ready to make a deal

    President Donald Trump said on Thursday that he believes Russian President Vladimir Putin will make a deal, and that the threat of sanctions against Russia likely played a role in Moscow seeking a meeting.

    Trump is scheduled to meet with Putin in Alaska on Friday. The U.S. president said he is unsure whether an immediate ceasefire can be achieved but expressed interest in brokering a peace agreement.

    “He’s, he really, I believe now, he’s convinced that he’s going to make a deal, he’s going to make a deal. I think he’s going to, and we’re going to find out,” Trump said in an interview on Fox News Radio’s “The Brian Kilmeade Show”.

    Earlier in the day, Putin said that the United States was making “sincere efforts” to end the war in Ukraine and suggested that Moscow and Washington could agree on a nuclear arms deal as part of a broader push to strengthen peace.

    Read More: Trump floats meeting with Putin and Zelenskiy if initial Putin talks go well

    Trump also mentioned during the Fox interview that he has three locations in mind for a follow-up meeting with Putin and Ukraine’s President Volodymyr Zelenskiy, though he noted that a second meeting is not guaranteed.

    “Depending on what happens with my meeting, I’m going to be calling up President Zelensky, and let’s get him over to wherever we’re going to meet,” Trump said.

  • China pharma firms turn to local reagent suppliers to cut costs and delivery times

    China pharma firms turn to local reagent suppliers to cut costs and delivery times

    Pharmaceutical research and development firms in China are increasingly interested in procuring critical supplies known as reagents from local manufacturers, industry executives and managers said, as they seek to cut costs and delivery times.

    Western reagent suppliers including US-based Thermo Fisher Scientific and Germany’s Merck (MRCG.DE), opens new tab have profited in the world’s second-largest pharmaceutical market from the compounds used in lab tests for analysis and quality control.

    But rising Chinese import tariffs due to the trade war with the U.S. and longer-term concerns about costs or access are spurring Chinese companies to request products from local rivals like Shanghai Titan Scientific (688133.SS) and Nanjing Vazyme Biotech (688105.SS) instead, the executives and managers said.

    The five who spoke to Reuters work at Chinese firms involved in the purchase or supply of reagents and their comments are an early sign of an expected industry shift toward more Chinese purchases.

    China’s reagent market for lab and diagnostic use has been to some extent supplied by imports, which were valued at $5.76 billion in 2024, down slightly from $5.83 billion in 2023, according to UN Comtrade data.

    “It is actually more advantageous (for reagents to be local) because the timeliness requirement is high,” said Ma Xingquan, co-president of pharmaceutical research firm ChemPartner PharmaTech.

    Most reagents it uses in its pre-clinical work are products that are made in China by firms including Titan and Shanghai Aladdin Biochemical Technology (688179.SS), he said.

    Read more: China slaps duties on Canadian canola

    ChemPartner’s usage of locally made reagents would probably increase further as new products become available, Ma added.

    TARIFF BUMP

    The rush to use domestically made reagents has accelerated since April, the month China raised duties on U.S. goods to 125%, a manager at Titan and an executive at Vazyme said, though the levies have since been lowered as Beijing and Washington continue trade talks.

    Some Chinese drugmakers were worried about tariff policy uncertainty, Titan product manager Yang Dong said.

    Since April, more than 90% of Vazyme’s customers have discussed replacing imported reagents with its products, Vazyme Senior Vice President Xu Xiaoyu said.

    “Before April, customers were only saying long term, they hope to be able to replace (reagents) with those locally made, it would be better,” Xu said. “But to customers these tariffs are like a shock in a short period of time. They clearly felt this type of direct impact… their impetus (for replacement) will be stronger.”

    Titan and Vazyme are both forecast to report strong sales growth this year, according to brokers.

    China International Capital Corp expects Titan’s annual revenue to grow 22% to 3.52 billion yuan ($490.39 million) this year, while Vazyme’s revenue is set to rise 15% to 1.59 billion yuan over the same period, according to Soochow Securities.

    “There is still a lot of room for substitution of imported biological reagent enzymes, clients are strongly interested in locally-made replacements,” Soochow said in a recent note.

    Shares in Titan and Vazyme have risen about 54% and 18% respectively since the start of the year. Merck and Thermo Fisher shares have fallen about 21% and 8% respectively over the same period.

  • Bitcoin hits fresh record as Fed easing bets add to tailwinds

    Bitcoin hits fresh record as Fed easing bets add to tailwinds

    Bitcoin hit a record high on Thursday as increasing expectations for easier monetary policy from the Federal Reserve added to tailwinds from recently announced financial reforms.

    The world’s largest crypto-asset by market capitalisation climbed as much as 0.9% to $124,002.49 in early Asia trading, surpassing its previous peak hit in July. On the day, the second largest crypto-token ether hit $4,780.04, the highest level since late 2021.

    Bitcoin’s rally is being powered by increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets, said IG market analyst Tony Sycamore.

    “Technically a sustained break above $125k could propel BTC to $150,000,” he wrote in a note.

    Bitcoin has risen nearly 32% so far in 2025 on the back of long-sought regulatory wins for the sector following President Donald Trump’s return to the White House. Trump has called himself the “crypto president” and his family has made a series of forays into the sector over the past year.

    An executive order last week paved the way to allow crypto assets in 401(k) retirement accounts, highlighting an increasingly favorable regulatory environment in the United States.

    Read more: Bitcoin (BTC) to Pakistani Rupee (PKR) Rates for August 13, 2025

    Crypto has scored multiple regulatory wins in the US over 2025, including the passage of stablecoin regulations and the US securities regulator’s move to overhaul regulations in order to accommodate the asset class.

    Bitcoin’s surge has also sparked a broader rally in the asset class over the past few months, shrugging off the tremors of Trump’s wide-ranging tariff policies.

    According to data from CoinMarketCap, the crypto sector’s overall market capitalisation has ballooned to over $4.18 trillion, up from about $2.5 trillion in November 2024, when Trump won the US presidential election.

    The latest push for crypto adoption in the United States came via an executive order on Thursday last week, which would ease access to the asset class in 401(k) retirement accounts.

    The executive order could also be a boost for asset managers such as BlackRock and Fidelity, which operate crypto exchange-traded funds (ETFs).

    Crypto’s push into retirement savings can also be peppered with risks, as the asset class tends to experience much more volatility than stocks and bonds, which asset managers had typically relied on for such accounts.

  • Trump threatens ‘severe consequences’ if Putin blocks Ukraine peace

    Trump threatens ‘severe consequences’ if Putin blocks Ukraine peace

    U.S. President Donald Trump threatened “severe consequences” if Russia’s Vladimir Putin blocked peace in Ukraine but also said on Wednesday that a meeting between the pair could swiftly be followed by a second that included the leader of Ukraine.

    Trump did not specify what the consequences could be, but he has warned of economic sanctions if a meeting between himself and President Putin in Alaska on Friday proved fruitless.

    The comments by Trump and the mood music after a virtual meeting of Trump, European leaders and President Volodymyr Zelenskiy could provide some hope for Kyiv after fears the Alaska meet could sell out Ukraine and carve up its territory.

    However, Russia is likely to resist Ukraine and Europe’s demands strongly and previously said its stance had not changed since it was set out by Putin in June 2024.

    When asked if Russia would face any consequences if Putin does not agree to stop the war after Friday’s meeting, Trump responded: “Yes, they will.”

    Asked if those consequences would be sanctions or tariffs, Trump told reporters: “I don’t have to say, there will be very severe consequences.”

    But the president also described the aim of the meeting between the pair in Alaska as “setting the table” for a quick follow-up that would include Zelenskiy.

    “If the first one goes okay, we’ll have a quick second one,” he said.

    “I would like to do it almost immediately, and we’ll have a quick second meeting between President Putin and President Zelenskiy and myself, if they’d like to have me there.”
    Trump did not provide a time frame for a second meeting.

    RED LINES

    European leaders and Zelenskiy had earlier spoken with Trump in a last-ditch call hosted by Germany to lay out red lines ahead of the Alaska meeting.

    “We had a very good call. He was on the call. President Zelenskiy was on the call. I would rate it a 10, very friendly,” Trump said.

    French President Emmanuel Macron said Trump agreed that Ukraine must be involved in any discussions about ceding land while Zelenskiy said Trump had supported the idea of security guarantees in a post-war settlement.

    “President Trump was very clear that the United States wanted to achieve a ceasefire at this meeting in Alaska,” Macron said.

    “The second point on which things were very clear, as expressed by President Trump, is that territories belonging to Ukraine cannot be negotiated and will only be negotiated by the Ukrainian president.”

    German Chancellor Friedrich Merz, who hosted the virtual meeting, said the principle that borders could not be changed by force must continue to apply.

    “If there is no movement on the Russian side in Alaska, then the United States and we Europeans should … increase the pressure,” he said.

    “President Trump knows this position, he shares it very extensively and therefore I can say: We have had a really exceptionally constructive and good conversation with each other.”

    Trump and Putin are due to discuss how to end the three-and-a-half-year-old conflict, the biggest in Europe since World War Two. Trump has previously said both sides will have to swap land to end fighting that has cost tens of thousands of lives and displaced millions.

    RUSSIA MAKES SHARP ADVANCE INTO UKRAINE

    On a day of intense diplomacy, Zelenskiy flew into Berlin for virtual meetings with European leaders and then with Trump.

    He and the Europeans worry that a land swap could leave Russia with almost a fifth of Ukraine, rewarding it for almost 11 years of efforts to seize Ukrainian land, the last three in all-out war, and embolden Putin to expand further west in the future.
    Russian forces have made a sharp thrust into eastern Ukraine in recent days in what may be an attempt to increase the pressure on Kyiv to give up land.

    “I told the U.S. president and all our European colleagues that Putin is bluffing (about his stated wish to end the war),” Zelenskiy said. “He is trying to apply pressure before the meeting in Alaska along all parts of the Ukrainian front. Russia is trying to show that it can occupy all of Ukraine …”

    A source familiar with the matter said the call with Trump discussed possible cities that could host a three-way meeting, depending on the outcome of the talks in Alaska.
    Wary of angering Trump, European leaders have repeatedly said they welcome his efforts, while stressing that there should be no deal about Ukraine without Ukraine’s participation.

    Trump’s agreement last week to the summit was an abrupt shift after weeks of voicing frustration with Putin for resisting the U.S. peace initiative. Trump said his envoy had made “great progress” at talks in Moscow.

    A Gallup poll released last week found that 69% of Ukrainians favour a negotiated end to the war as soon as possible. But polls also indicate Ukrainians do not want peace at any cost if that means crushing concessions.

    Russian Foreign Ministry spokesperson Alexei Fadeev earlier said Moscow’s stance had not changed since last year.

    As conditions for a ceasefire and the start of talks, the Kremlin leader had demanded that Ukraine withdraw its forces from four regions that Russia has claimed as its own but does not fully control, and formally renounce its plans to join NATO.
    Kyiv swiftly rejected the conditions as tantamount to surrender.

  • Putin appears ready to test new missile as he prepares for Trump talks

    Putin appears ready to test new missile as he prepares for Trump talks

    MOSCOW: Russia appears to be preparing to test its new nuclear-armed, nuclear-powered cruise missile, according to two U.S. researchers and a Western security source, even as Russian President Vladimir Putin readies for talks on Ukraine with U.S. President Donald Trump on Friday.

    Jeffrey Lewis of the California-based Middlebury Institute of International Studies, and Decker Eveleth of the CNA research and analysis organization, based in Virginia, reached their assessments separately by studying imagery taken in recent weeks until Tuesday by Planet Labs, a commercial satellite firm.

    They agreed the photos showed extensive activity at the Pankovo test site on the Barents Sea archipelago of Novaya Zemlya, including increases in personnel and equipment and ships and aircraft associated with earlier tests of the 9M730 Burevestnik (Storm Petrel).

    “We can see all of the activity at the test site, which is both huge amounts of supplies coming in to support operations and movement at the place where they actually launch the missile,” Lewis said.

    A Western security source, who asked not to be further identified, confirmed that Russia is preparing a Burevestnik test.

    Lewis said a test could occur this week, raising the possibility it could overshadow the Trump-Putin summit in Alaska.

    Asked for comment, the White House did not address the possibility of a Burevestnik test.
    The Pentagon, the CIA, and Russia’s Defense Ministry declined to comment.

    Putin has said the weapon – dubbed the SSC-X-9 Skyfall by NATO – is “invincible” to current and future missile defenses, with an almost unlimited range and unpredictable flight path.
    Lewis, Eveleth, and two arms control experts said the missile’s development has taken on more importance for Moscow since Trump announced in January the development of a U.S. Golden Dome missile defense shield.

    But many experts say it is unclear the missile can evade defenses, will not give Moscow capabilities it does not already have, and will spew radiation along its flight path.
    A test would have been scheduled long in advance of last week’s announcement of the Trump-Putin meeting, the researchers and experts said.

    But Putin could have suspended preparations in view of U.S. spy satellites to signal his openness to ending his war in Ukraine as well as to restarting arms-control talks with the U.S., the experts said. New START, the last U.S.-Russia pact capping strategic nuclear deployments, expires on February 5.

    “Sometimes you can push up or push down the schedule for a political reason,” said Tom Countryman, a former acting undersecretary of state for arms control.
    The Burevestnik has a poor test record, according to the Nuclear Threat Initiative advocacy group, with two partial successes among 13 known tests.

    SPECIAL AIRCRAFT

    Eveleth and Lewis said the Planet Labs imagery showed stacks of shipping containers, equipment, and personnel arriving since late July.

    Lewis said two aircraft equipped to gather test data had been parked at the archipelago’s Rogachevo military airfield since mid-July. Images he provided to Reuters showed two large jets mounted with saucer-shaped radar domes.

    He noted the presence of at least five ships associated with previous tests. A ship-tracking website – VesselFinder.com – showed a sixth ship linked to earlier tests was due to arrive on Tuesday, he said.

    Reuters confirmed the website showed the vessel, a cargo ship named the Teriberka, bound for Novaya Zemlya, but could not independently confirm the researchers’ other findings.

    Eveleth and Lewis said they began examining imagery of Pankovo starting from July, after Russia on August 6 published a notice to mariners to stay away from the area from August 9-12.

    Reuters found a series of notices on the U.S. Federal Aviation Administration’s Defense Internet NOTAM Service issued by Russia showing a possible launch window between August 9-22.

    The Norwegian military told Reuters in an email that the Barents Sea is a “prime location for Russian missile tests” and that it had indications from notices and maritime warnings of “preparations for test activities.”

    But it said it would “not confirm any knowledge of what kind of munitions they are to test.”
    In late July, Eveleth said, he noticed a shelter protecting the Burevestnik launcher from the weather was being slid back and forth, which he called “very clear evidence” of plans for a test.

    Lewis provided to Reuters images taken of the site on August 7 showing the protective launcher cover, stacks of shipping containers, a crane for moving them, and a helicopter.
    “It’s full steam ahead,” he said of the pace of test preparations.

  • Trump floats meeting with Putin and Zelenskiy if initial Putin talks go well

    Trump floats meeting with Putin and Zelenskiy if initial Putin talks go well

    U.S. President Donald Trump said on Wednesday that if his meeting with Russian President Vladimir Putin goes well, he would like to have a quick second meeting with Putin, Ukrainian President Volodymyr Zelenskiy, and himself.

    “If the first one goes okay, we’ll have a quick second one,” Trump told reporters. “I would like to do it almost immediately, and we’ll have a quick second meeting between President Putin and President Zelenskiy and myself, if they’d like to have me there.”

    Trump did not provide a timeframe for a second meeting. He is to meet Putin in Anchorage, Alaska on Friday.

    Trump also said Russia would face consequences if Putin does not agree to stop the war.

    “Yes, they will,” he said.

    He did not spell out the consequences but he has warned of stiff economic sanctions if no breakthrough can be achieved.

    Trump spoke after holding talks via telephone with European leaders and Zelenskiy about his meeting with Putin.

    “We had a very good call. He was on the call. President Zelenskiy was on the call. I would rate it a 10, very friendly,” he said.

  • Poland signs $3.8 billion deal to upgrade F-16 fighter jets

    Poland signs $3.8 billion deal to upgrade F-16 fighter jets

    Poland has signed a contract worth $3.8 billion to upgrade its fleet of F-16 fighter jets, the Polish defence minister said on Wednesday.

    Poland has been ramping up defence spending since the start of the war in Ukraine and plans to allocate 5% of gross domestic product (GDP) to its armed forces in 2026.

    The country has 48 F-16C/D Block 52+ aircraft which were delivered to the country between 2006 and 2008, state news agency PAP reported.

    Polish Defence Minister Wladysław Kosiniak-Kamysz told a news conference that the modernisation work would take place at the Wojskowe Zaklady Lotnicze Nr 2 military aviation plant in the northern city of Bydgoszcz.

    “The current capabilities of the F-16 in the CD version are good, but after 20 years, they are insufficient against threats,” he told a news conference.”

    “We must improve reconnaissance capabilities, communication, integration with F-35s, Abrams tanks, and Apaches, as well as the ability to operate in every domain.”

    Earlier this month Poland signed a second multi-billion dollar deal with South Korean industrial and defence group Hyundai Rotem for the supply of battle tanks.

  • Coffee prices fall in July for first time in 18 months

    Coffee prices fall in July for first time in 18 months

    Brazil’s consumer coffee prices fell 1.01% in July, the first drop in 18 months, according to data from the country’s Broad National Consumer Price Index (IPCA) published on Tuesday.

    During the preceding year and a half, coffee was one of the main drivers of inflation in Brazil, the world’s second largest coffee market, according to the Brazilian Institute of Geography and Statistics (IBGE).

    The retail price drop followed a decline in prices paid to farmers after the harvest of the 2025 crop, which is now in its final stages in Brazil.

    The reported decline in consumer coffee prices in Brazil for the month of July follows volatility in international markets, driven by issues such as the decision by U.S. President Donald Trump to impose a 50% tariff on Brazilian goods.

    While products such as orange juice were exempt from the measures, others including coffee, eggs and beef were not.

    Last week, coffee futures in New York rose 8% as investors grew concerned that the tariffs could hinder trade between the world’s largest coffee consumer, the United States, and the globe’s biggest producer and exporter, Brazil.

    It is too early to tell if Trump’s decision to hike tariffs against Brazilian goods could lead to lower prices of staples including coffee, IBGE manager Fernando Goncalves told Reuters.

    “It could be an effect of increased supply, and it’s not possible to say or confirm that it’s related to the tariff hike. The tariff hike only began this month,” he said.

  • Walmart broadens 10% discount

    Walmart broadens 10% discount

    -Walmart is expanding its 10% employee discount to nearly all of its grocery items, including dairy and meat, through the year, the company’s chief people officer told its staff in a letter on Wednesday.

    The discount, previously limited to fresh produce and general merchandise such as apparel, now extends to almost all food categories — including milk, meat, dry grocery, and seafood — in stores and online, effective immediately.

    Walmart-All Stories and Updates

    Walmart, the largest private employer in the United States, had previously extended its grocery discount during the holidays, but the perk will now be available year-round, the company said.

    “We’ve heard your feedback that these savings make a real difference for you and your families,” Donna Morris, Walmart’s chief people officer, wrote in the letter.

    Morris said the extension of the discount card program, first introduced more than 50 years ago, was among the company’s most requested benefits.

    The company has also raised wages for U.S. hourly workers and launched a bonus program for about 700,000 front-line staff over the last couple of years to help retain workers.

    The Wall Street Journal first reported on the extension of the discount program.

    Shoprite plans to exit these two countries

  • Australia cricket boss says Tests could send nations ‘bankrupt’

    Australia cricket boss says Tests could send nations ‘bankrupt’

    MELBOURNE: Cricket Australia boss Todd Greenberg says the traditional Test format could push some cricket nations into financial ruin and the sport may be better off with fewer five-day matches.

    Greenberg, who replaced Nick Hockley as CEO in March, said the future of Test cricket may involve fewer nations and more investment in marquee series like the Ashes.

    “I don’t think everyone in world cricket needs to aspire to play Test cricket, and that might be OK,” Greenberg told reporters on Wednesday, marking 100 days before Australia host England in the Ashes.

    “We’re literally trying to send countries bankrupt if we force them to try to play Test cricket.”

    Todd Greenberg, the former head of the sport’s players’ union, said cricket boards needed to prioritise meaningful contests over volume.

    “Scarcity in test cricket is our friend, not our foe,” the Cricket Australia boss said.

    “We need to make sure we invest in the right spaces to play Test cricket where it means something and has jeopardy.

    “That’s why the Ashes will be as enormous and profitable as it is — because it means something.”

    Read more: World Test Championship Final: Record prize money revealed for AUS vs SA clash

    While the five-Test Ashes series starting in Perth in late-November has seen record demand for tickets, the longest format is under siege from T20 cricket.

    Mushrooming T20 franchise leagues offering lucrative player contracts are crowding out the global calendar and have prompted a slew of top players to give up Tests and one-day internationals.

    Though Australia maintains a bumper schedule of Tests every home summer, it was also one of the earlier movers in T20, with the Big Bash League (BBL) set for its 15th season in December.

    CA has resisted allowing private investment in BBL teams but Todd Greenberg signalled the policy could be coming to an end following a review by Boston Consulting Group.

    “It would be completely naive of us sitting here in Australia to not explore (privatisation),” he said.

    “I’m not suggesting there’s been a decision made, and ultimately it won’t just be my decision or Cricket Australia’s decision.

    “It will be the whole of leadership of Australian cricket and it has to be beneficial for everyone.”