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• A Saudi-led coalition shot down a Houthi drone near Mecca on Tuesday amid ongoing regional instability. • The United States embassy issued a travel advisory urging citizens to reconsider traveling to Saudi Arabia following alerts in Mecca and other areas. • UN Secretary-General Antonio Guterres called for urgent de-escalation to protect civilians and restore freedom of navigation in the Red Sea and the Strait of Hormuz.

‘Red lines’ legislation would forbid defence equipment technology or services being used, includes parts for F-35 fighter jetsGet our breaking news email, free app or daily news podcastCrossbench MPs including David Pocock and Sophie Scamps will put pressure on the Albanese government to ban Australian goods from being used by the Israeli military – including for F-35 fighter jets – by introducing a bill designed to force it to adhere to international obligations.The group’s “red lines” legislation, to be presented on Monday, would outlaw defence equipment, technology or services being used where they could breach Australia’s international human rights obligations. Continue reading...

• French audiovisual exports dropped 21.6% to €164.3 million, marking the lowest level of TV content sales in a decade. • Documentaries led the market for the second year in a row, accounting for 39.2% of total sales. • The decline reflects a deteriorating economic environment characterized by budget cuts and a drop in television advertising revenue.

• Thailand’s central bank maintained its policy interest rate at 1.00% on Wednesday, a move widely anticipated by economists. • The decision comes as strong investment and technology-related exports provide economic support, offsetting weak household spending and limited lending to small businesses. • This stability reflects a balancing act by the central bank to sustain growth while addressing sluggish domestic demand.

• China increased its exports of yttrium to the United States in July, providing critical relief to U.S. aerospace firms facing supply chain pressures. • This surge occurs despite persistent trade tensions and existing export controls imposed by the Chinese government on strategic minerals. • In contrast, Japan has been largely cut off from exports of yttrium, terbium, gallium, and dysprosium following a diplomatic dispute in November.

• The US government is considering extending export controls to cloud services to prevent China from accessing advanced AI models and computing power. • This move follows a surge in Chinese AI capabilities and aims to close loopholes that allow Chinese firms to bypass hardware restrictions via third-party cloud providers. • Some experts warn that these regulations could inadvertently weaken US market dominance if data centers in Southeast Asia shift toward Chinese chips.

• President Shavkat Mirziyoyev announced a five-part growth plan during an annual dialogue with entrepreneurs in Khiva, earmarking nearly €1bn to boost business and exports. • The initiative introduces lower energy prepayments, new credit guarantees, easier capital market access, and regulatory reforms that limit state inspections. • A key component is the "AI Partner for 10,000 Enterprises" program, where the state will cover 50% of AI implementation costs and provide free supercomputing capacity for product development.