Central

• Five economists and researchers from the European Central Bank (ECB) have warned that the current generative AI boom could lead to a market bubble burst. • The ECB compares the current AI surge to historical precedents like the 19th-century railway boom and the dot-com era, where transformative technologies initially caused extreme stock price inflation. • This warning matters because a sharp correction in AI valuations could trigger systemic financial fallout across global markets.

• Kyrgyzstan is scheduled to hold a presidential election in January 2027, a pivotal event for the republic's political landscape. • The upcoming vote occurs against a backdrop of instability, as the country has seen multiple presidents removed from power over the last 30 years. • These political crises have historically been triggered by disputed elections and challenges to the traditional rules of political succession in Central Asia.

High 30s celsius forecast for France, Spain and Italy next week, before affecting Germany, Poland and CzechiaAnother pulse of heat is expected to affect central and western Europe next week. The latest forecast models show daily maximum temperatures well into the high 30s celsius widely across France, Spain and Italy during the first half of the week, while Germany, Poland and Czechia will experience the highest temperatures towards the end of the week. The shift in the focus of the heat as the week progresses can be attributed to the movement of high pressure. At the start of the week, low pressure centred in the Atlantic and high pressure centred over the low countries will draw warm air in from southern Europe northwards into parts of France. During the working week, the high pressure will slip a little farther south and east, enabling the warm air once situated over western Europe to make inroads into parts of Germany and central Europe.The heat in central and western Europe this summer has been unrelenting. Last week’s weather tracker highlighted extreme recording breaking temperatures for the month of July in Austria. However, only a few days later, on 4 August, the all-time record was shattered with 41.0C achieved in Stammersdorf, north-east of the capital, Vienna. This comfortably broke the previous all-time record set in the August of 2003 by 0.7C. Unbelievably, that record was broken again the following day when 41.2C was recorded in Deutsch-Altenburg. Slovakia also set a new all-time record on the same day of 41.4C. The continuing European heatwave is associated with a vertically extensive anticyclone, and had the effect of raising the freezing level above 4,000 metres across much of the Alpine region. This represents a level in the atmosphere well above many Alpine glaciers, accelerating the seasonal melting process. On the opposite side of the Atlantic, 51.8C was recorded in Badwater, California, the highest temperature in the US for 2026 so far. Continue reading...

Slovakia reaches new high of 42C as authorities in Poland forced to shut down Kozienice and Połaniec power plantsTemperature records have been broken in several countries across central and eastern Europe as the extreme weather that has caused wildfires and droughts across the continent continues.Countries including Slovakia, Austria and Hungary registered record temperatures. On Thursday, the Slovakian hydrometeorological agency said a new high of 42C (108F) had been reached in Dolné Plachtince. Continue reading...

• Central European governments are implementing emergency measures as the Danube River reaches record-low water levels. • The crisis is driven by soaring temperatures and a persistent heatwave currently affecting the European continent. • These low water levels threaten critical shipping lanes and regional logistics, potentially disrupting trade and transport.

Temperatures forecast to reach 37C in Budapest and Vienna as Hungary switches off vital nuclear plant with falling water levels in Danube affecting cooling capabilitiesThe latest heatwave seen in western Europe last week are now moving eastwards, with large parts of central and southern Europe set to experience extreme temperatures near 40C, and putting countries at risk of an energy crunch.Hungary was forced to shut down most of its sole nuclear power plant, which generates a large part of the country’s energy supply, for the first time in 44 years as the drying out of the Danube made it impossible to cool safely. The nuclear plant ‌is expected to ​be completely powered down later ⁠this week ​as water ​levels ​on ​the ‌Danube ​river are projected ​to fall further. Continue reading...

Yemeni sources say Saudi Arabia is preparing sea and possible land attack to break chokehold on oil exports through Red SeaSaudi Arabia is preparing for a major military offensive against the Houthis by sea and possibly by land in central Yemen, Yemeni sources believe, in a move to break the chokehold on its oil exports through the southern Red Sea.Saudi forces have been seen withdrawing from the east of Yemen in what could be preparation for a land offensive. At the same time, Riyadh is trying to organise a naval coalition to protect shipping from Houthi attacks in the Red Sea and the Bab al-Mandab strait. Continue reading...