Oil transport through the Strait of Hormuz has recovered to 70 percent of its capacity. Kuwait and Qatar have joined the United Arab Emirates and Saudi Arabia in transferring oil between ships on the open sea to bypass conflict zones.
The Netherlands and the broader European region risk losing significant industry and thousands of jobs to China and the United States. In response, the Scientific Council for Government Policy advises the Dutch cabinet to consider unconventional measures, such as imposing import tariffs and lowering the euro exchange rate.
Meta has agreed to a settlement of up to $16.7 billion to resolve a major U.S. lawsuit concerning the addictive design of its Facebook and Instagram platforms. As part of the agreement, the company will implement changes to its applications.
France is temporarily relaxing strict production regulations for traditional cheeses like Comté due to severe drought. Farmers are now permitted to feed their cows alternative fodder because insufficient grass is available for grazing.
Dubai International Airport experienced a 31 percent drop in passenger numbers during the first half of the year due to the conflict between Israel and Iran. Traffic at the airport is now beginning to recover following this significant decline.
