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ISTANBUL (AP) — Survivors of a ferry disaster off the coast of northern Cyprus that killed eight people described on Monday the moments of terror as they scrambled to escape the sinking vessel. The passengers spoke as rescue teams searched for 18 people missing since the ship carrying 267 passengers and crew capsized after leaving Kyrenia, a port in breakaway northern Cyprus, for Tasucu in Turkey on Sunday afternoon. Serkan […]

TOKYO (AP) — Japan plans to use drones, artificial intelligence and new methods of warfare as it adapts its defense strategies to suit changing times, according to details of an 8.9 trillion yen ($55.6 billion) budget request for the coming fiscal year disclosed by the Defense Ministry on Monday. The preliminary total is only a small increase from the 8.8 trillion yen ($55 billion) defense budget requested for this fiscal […]

By Timothy Gardner, Arathy Somasekhar and Anushree Mukherjee WASHINGTON/HOUSTON, Aug 31 (Reuters) – Six months into the U.S.-Israeli war with Iran, Washington may find it harder to calm jittery oil markets after U.S. presidents drained the aging Strategic Petroleum Reserve over the last five years. The SPR, which Washington created after the oil crises of the 1970s, holds crude in a series of 60 underground salt caverns along the coasts […]

HOUSTON/CARACAS, Aug 31 (Reuters) – A massive long-term oil deal expected to grant the U.S. access to a fifth of Venezuela’s crude reserves has energy experts and lawyers questioning its legality and eventual execution, while calling on both governments for contract transparency. The unprecedented pact, announced by U.S. President Donald Trump on Friday and confirmed by Venezuela’s interim President Delcy Rodriguez, will put a whopping 65 billion barrels of recoverable […]

By Jarrett Renshaw Aug 31 (Reuters) – President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran. On Tuesday, he is expected to host many of those companies at the White House to celebrate efforts to keep the market well supplied in […]

(AP) – Vice President JD Vance is set to address the Republican Jewish Coalition on Monday, offering a closely watched opportunity to reaffirm the Trump administration’s support for Israel and its commitment to combating antisemitism. The appearance comes as Republican leaders work to strengthen ties with Jewish voters and conservative Jewish activists ahead of the midterm elections. It also gives Vance a chance to address questions about his approach to […]

DUBAI, United Arab Emirates (AP) — The United Arab Emirates’ air force intercepted an Iranian drone over its territorial waters Monday, the Defense Ministry said, an attack that comes after the United States and Iran exchanged fire on the weekend, the first significant military action in a month. During the lull in fighting, the U.S. has been ratcheting up economic pressure on Iran with the hope of forcing concessions out […]

(AP) – Treasury Secretary Scott Bessent is bringing a message of economic growth, energy independence, and financial stability to the world’s largest economies this week, as the United States works to strengthen its position on trade, national security, and global debt. Bessent is hosting meetings of Group of 20 finance ministers Monday and Tuesday in Asheville, North Carolina. The gathering comes as President Donald Trump’s administration presses allies and economic […]

By Summer Zhen HONG KONG, Aug 31 (Reuters) – Shares of online fast-fashion retailer Shein slumped more than 10% in gray-market trading on Monday, one day ahead of its Hong Kong Stock Exchange debut. The company raised $1.7 billion at HK$48.56 a share, valuing it at about $26.5 billion, according to sources who declined to be identified. Official pricing is due to be announced later on Monday.  Within a few […]