China’s industrial output grew faster in August, but weak consumption and a worsening investment slump intensified concerns about deepening imbalances in the economy.

China economyindustrial outputconsumer spendinginvestment

China’s investment downturn worsened in August, while retail sales growth slowed further. Industrial output exceeded forecasts by a wide margin as Beijing warned of an imbalance between supply and demand, adding to pressure on policymakers.

China economyretail salesinvestmentindustrial output

Yemen’s Iran-aligned Houthis launched another wave of attacks on Saudi Arabia and were reinforcing positions along Yemen’s western Red Sea coast, Yemeni officials said. Urgent discussions were underway in Riyadh over how to respond to their rapid advance.

HouthisSaudi ArabiaYemenStrait of Hormuz

The Iran-backed Houthis have seized parts of Yemen’s Red Sea coastline and tightened control over islands there, giving them influence over a vital global shipping route. The renewed fighting has broken a largely sustained ceasefire and raised fears that Yemen could slide into another civil war as disruption in the Strait of Hormuz affects maritime traffic.

HouthisYemenRed Seacivil war risk

The Houthis’ advance along Yemen’s Red Sea coast, including the seizure of Mocha and movement toward the Bab el-Mandeb Strait, is drawing new attention to their extensive financing system. Researchers say it spans ports, tariffs, Iranian oil, hawala networks, cryptocurrency exchanges and foreign facilitators, complicating US efforts to cut the group’s funding without disrupting civilian lifelines.

HouthisYemenBab el-Mandebsanctions evasion

Nigerian billionaire Aliko Dangote has launched Africa’s biggest-ever share sale, listing 4.1 billion shares in his Lagos refinery. He called it a “people’s IPO” intended to give all Nigerians a chance to benefit from the plant’s wealth potential. Trading is expected to begin in November. Global oil prices also rose as Houthi attacks led Saudi Arabia to shut its East-West oil pipeline.

Dangote refineryIPONigeriaoil prices

Nigeria’s Dangote refinery is opening up to public ownership and plans to raise $1.6 billion from retail investors across the continent. President Felix Tshisekedi has called on the National Service to clean Kinshasa’s streets, while the Youth Olympic flame begins touring Senegal ahead of the Games.

Dangote refineryNigeriapublic ownership

Nigerian billionaire Aliko Dangote has launched Africa’s largest share sale, offering the public about 3% of his refinery in an IPO that could raise up to $2.1bn. He says the sale will let ordinary Nigerians share in the plant’s success, while experts warn that prices could fall and urge buyers to avoid investing money they need soon.

Dangote refineryshare saleNigeriaoil

Aliko Dangote plans to raise about $1.6 billion through an IPO of Dangote Industries to help fund a $14.3 billion expansion that would double the refinery’s capacity to 1.4 million barrels per day. The offer is pitched as a way for millions of Nigerians to own a stake, but affordability remains in question despite a 525-naira price per share and a 10-share minimum.

Dangote refineryIPONigeriaenergy

Aliko Dangote’s Nigerian refinery business has launched what is described as Africa’s biggest-ever IPO. If fully subscribed, Dangote could add $23bn to his $35bn fortune, while the refinery’s valuation is expected to reach about 65.22tn naira. The offering is aimed at institutional and retail investors, particularly young Nigerians.

IPODangote refineryNigeriaoil

Nigerian billionaire Aliko Dangote launched an initial public offering for his oil refinery on Monday, calling it Africa’s largest share sale to date. The IPO opens ownership of the plant to retail investors and raises funds for expansion.

NigeriaAliko Dangoteoil refineryIPO

US Energy Secretary Chris Wright predicts that oil and oil-product shipments through the Strait of Hormuz will rise in the coming weeks. He said the current average is up to 10 million barrels a day. The waterway carries about 25% of global oil trade and roughly 20% of LNG trade.

Strait of Hormuzoil shipmentsChris Wright

A meeting in Oman on temporary routes to restore some commercial traffic through the Strait of Hormuz has been postponed after regional parties failed to agree on the waterway’s future. Iran blamed Saudi Arabia’s objections but said it would continue pursuing a regionally backed agreement with Oman.

Strait of HormuzIranSaudi Arabiadiplomacy

SEC Chair Paul Atkins supports the Clarity Act but says the agency will continue advancing crypto regulation even without the legislation. He identified crypto issuance, transfer-agent modernization and custody as the foundation of that regulatory effort.

SECcrypto regulationClarity Act

The Senate is set for a consequential Tuesday vote on sweeping cryptocurrency legislation, with the bill’s chances of securing enough support to pass still uncertain.

cryptocurrencyU.S. Senatelegislation

The US energy chief says Saudi Arabia’s East-West pipeline is expected to resume operations soon. It was shut after attacks last week, disrupting a key route used to bypass the Strait of Hormuz.

Saudi Arabiaoil pipelineStrait of Hormuz

The Trump administration targeted one of Russia’s largest banks on Monday over its alleged support for Iran, marking the latest step in its pressure campaign against Tehran.

United StatesRussiaIranSanctions

The U.S. Treasury sanctioned Russia’s VTB Bank, accusing it of opening offices in Iran, processing transactions with sanctioned Iranian banks, and helping move billions in frozen Iranian assets. Former Treasury official Miad Maleki said the measure also aims to pressure Chinese banks to cut ties with VTB over fears of secondary sanctions.

U.S. sanctionsVTB BankIranChinese banks

The United States imposed Iran-related sanctions on Russia’s VTB Bank on Monday, accusing it of helping evade sanctions on Iran. The Treasury Department said the move comes as Washington seeks to increase economic pressure on Tehran.

U.S. sanctionsIranRussiaVTB Bank

The US Treasury Department has added Russia’s VTB Bank, already subject to Washington’s sanctions, to its Iran-related restrictions list. The United States first imposed sectoral sanctions on VTB in 2014.

US sanctionsVTB BankIran-related restrictions

Ukrainian Prime Minister Sergey Koretsky says public finances are nearing a critical point and urges lawmakers to quickly pass bills tied to international financial assistance. He warns Ukraine could lose a significant share of the allocated $29.5 billion if voting deadlines are missed. The deadline has been moved from November 1 to October 15.

Ukrainepublic financesinternational aidparliament votes

President Donald Trump's digital assets adviser spoke at a Washington event one day after new compromise language was released for the Clarity Act, saying Trump had surrendered what were described as historic ethics powers in the deal.

Donald TrumpcryptocurrencyClarity Act

Donald Trump is pressing a crypto bill as the industry’s conflict with banks intensifies. At a White House gathering last month, he praised Coinbase CEO Brian Armstrong as “one of the greats” and called Gemini Space Station co-founders Cameron and Tyler Winklevoss “tremendous investors, brilliant people.”

Donald Trumpcryptocurrencybankslegislation

Opposition to the CLARITY Act continued to grow ahead of Tuesday’s Senate cloture vote, despite Republicans releasing a version they called final that incorporated 126 Democratic requests. Banking groups, Democrats, state attorneys general and developer advocates still objected to provisions on ethics, stablecoin rewards, state enforcement and deposit flight, putting the 60-vote threshold at risk.

CLARITY ActstablecoinsUS Senatecrypto regulation

Eight banking groups said Monday that they want stricter limits on stablecoin rewards, keeping the dispute between banks and the crypto industry alive in Congress as the Senate prepares to vote on the Clarity Act.

BankingStablecoinsUS Congress