Joint

Japan and the United States have confirmed a rare, coordinated yen-buying intervention to halt the Japanese currency’s slide to 40-year lows, with Tokyo signalling it is willing to take further action if needed.

The Japanese Ministry of Finance confirmed the joint intervention after a statement by US President Donald Trump on Sunday announced that Washington was helping to prop up the yen as a sign of friendship and to support the global economy.

“They have a weakening yen, and they wanted a little bit of help. And we’re always there for Japan,” Trump said in response to a reporter’s query about why the US is helping to support the currency.

The yen leapt after the announcement, leaving traders on high alert for further intervention from authorities. The Japanese currency gained as much as 1.4 percent to hit a nearly three-month high of 155.20 per US dollar, compounding a 3.8 percent surge over the previous two sessions. The yen also advanced broadly against other major currencies, including the euro and sterling.

The latest bout of aggressive yen-buying heavily pressured the US dollar. In early Asian trading on Monday, the euro climbed to a 1.5-month high of $1.1559, while sterling hovered near a two-week top at $1.3476.

However, the rapid appreciation of the currency immediately weighed on the equity market. The Nikkei share average tumbled, reversing course from the one-week high it had achieved in the previous session.

Analysts say the intervention underscores both countries’ resolve to prevent global spillovers from a sell-off in the yen and Japanese government bonds, including by adding pressure on already rising US Treasury yields.

Japan has been struggling to curb a relentless drop in its currency that has pushed up import prices and stoked broader inflation, hitting household wallets and Prime Minister Sanae Takaichi’s approval ratings.

In its statement, Japan’s Finance Ministry said Friday’s yen-buying intervention with the US Treasury Department “countered excessive volatility and disorderly movements in the Japanese yen in recent months”.

“The Japanese Ministry of Finance remains attentive and in close communication with our counterparts at the U.S. Treasury,” it added. “We will not hesitate to conduct further joint intervention.”

The joint intervention is the first since a 2011 coordinated action to weaken the yen after the devastating earthquake in eastern Japan.

Tokyo may have sold as much as $58.97bn to buy yen when it intervened in New York markets on Thursday, Bank of Japan data indicated, before Friday’s confirmed joint intervention with Washington.

US Treasury Secretary Scott Bessent also confirmed Friday’s effort, noting on Sunday that Washington “will not hesitate to participate in further joint intervention”.

“We strongly support Japan’s decisive market and monetary steps to correct the substantial undervaluation of the yen,” Bessent said in a separate statement on X, repeating his calls for further interest rate hikes by the Bank of Japan.

In line with Bessent’s repeated calls for higher Japanese interest rates, the Bank of Japan on Friday offered its most explicit signal to date of an early rate hike, even as it kept monetary policy steady.

In a sign of broader policy coordination, South Korea also stepped in to buy its won currency on Thursday.

Japan intervened in April and May, buying yen, but the move triggered only a brief rebound. The Bank of Japan’s June rate hike to a 31-year high of 1 percent also gave the struggling currency little lasting boost.

Caracas, August 1, 2026 (venezuelanalysis.com) – The Venezuelan government and the United Nations have launched a joint 60-day plan to assess the country’s recovery needs following the twin earthquakes that struck the country on June 24.

The initiative, announced in a press conference on Wednesday, is titled the Post-Disaster Needs Assessment (PDNA). It will be led by Venezuelan authorities with technical support from UN agencies, the European Union, the World Bank, the Inter-American Development Bank, the Development Bank of Latin America and the Caribbean (CAF), and other “strategic partners from various sectors.”

Under the proposal, a multidisciplinary team will work jointly to evaluate nine socioeconomic sectors in the hardest-hit regions and produce technical recommendations to guide reconstruction policies and investment decisions.

“The plan will provide a common and objective assessment of damages, losses, and recovery needs,” outgoing UN Resident and Humanitarian Coordinator in Venezuela Gianluca Rampolla told reporters in a televised broadcast with Acting President Delcy Rodríguez.

Rampolla stressed that “the success of this process will depend on the commitment, collaboration, and continuous exchange among all participating institutions.”

For her part, Rodríguez forecast “extraordinary results” from the initiative and expressed confidence in her government’s ability to establish “highly effective coordination mechanisms with international organizations and the United Nations system.”

The acting leader emphasized that the objective goes beyond simply restoring damaged infrastructure.

“It is not only about recovering what existed before; it is about going further. The double earthquake also affected sectors already living in poverty,” she affirmed. “We must move beyond the humanitarian phase and advance toward a recovery process that places the human being at the center in every dimension,” she said.

Education Minister Héctor Rodríguez, who also participated in the press conference, said that the working groups would begin immediately and produce a “detailed and realistic report” with general policy guidelines within the 60-day deadline.

Real estate subsidies and reconstruction plans

The acting president had previously announced that both public and private banks would offer housing loans to affected families. Homes valued at up to US $70,000 will receive an 80 percent state subsidy for their purchase, with the remaining 20 percent provided via a bank loan to be paid over 25 years. For properties valued between $70,000 and $100,000, the state will subsidize 50 percent, while the remainder will also be granted 25-year financing plans.

Venezuela’s present minimum income stands at $240 a month for public sector workers.

Rodríguez added that residents who lost their apartments will retain their property rights to the land and receive support for reconstruction.

“I have requested that the Supreme Court establish a special jurisdiction to address civil matters related to property ownership and personal identity,” she explained during a meeting with government officials on Tuesday.

The Venezuelan acting president likewise met with a delegation from the International Monetary Fund (IMF) on Wednesday to discuss the possible use of international reserves to finance the Venezuela Rises Plan, through which the government aims to deliver 4,000 homes before the end of the year and build at least 10,000 additional ones in 2027.

According to reports, the talks additionally focused on the Caribbean nation’s macroeconomic outlook and economic policy priorities.

On July 17, the acting president announced access to$346 million from Venezuela’s IMF reserve tranche, funds that are immediately available to address urgent humanitarian needs arising from the disaster. However, the fund has yet to release around $4.5 billion in Special Drawing Rights that have been frozen since being issued in 2021.

The World Bank has estimated the immediate earthquake damages at $19.6 billion and warned that a slow reconstruction process could hinder Venezuela’s economic recovery for the next decade.

According to the latest official figures, the twin earthquakes left at least 5,546 people dead, 16,740 injured, and over 20,000 people homeless.

Edited by Ricardo Vaz in Caracas.

South Korea, the United States, Japan and eight other countries on Friday issued a joint alert about North Korean information technology (IT) workers accused of generating revenue to help fund Pyongyang’s weapons of mass destruction programs.

The relevant authorities of the 11 countries released the alert, urging all countries, companies and other entities to deepen their understanding of North Korean IT worker schemes, implement measures to deal with them and strengthen countermeasures, such as enhancing identity verification procedures.

“North Korea relies upon a network of skilled Information Technology workers, deployed within and outside of North Korea, to obtain false identities and remotely earn income to fund North Korea’s unlawful nuclear weapons and ballistic missile programs,” they said in the alert released by the U.S. State Department.

They pointed out that North Korean IT workers impersonate nationals of other countries to obtain work and income through online platforms operated by private companies for employment, procurement and contracting of services.

“These workers seek out contracts with the intent of remitting their salaries to their parent North Korean agencies. They also pose an insider threat to companies and are involved in data exfiltration, cryptocurrency theft, and theft of sensitive information,” they said.

“North Korean IT workers employ increasingly sophisticated methods, including the integration of AI, to obfuscate their identities and expand their activities globally.”

All U.N. member states must repatriate to North Korea all North Korean nationals earning income in that member state’s jurisdiction, subject to limited exceptions, they stressed, citing a U.N. Security Council resolution on the reclusive regime.

“Additionally, contracting with North Korean IT workers and paying them for services rendered may also violate the domestic laws of many countries, including Japan, the United States, and the Republic of Korea, and may result in legal consequences or financial penalties,” they said.

The countries that issued the joint alert included Britain, Australia, Canada, France, Germany, Italy, the Netherlands and New Zealand.

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Caracas, July 28, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez hosted a US Congress delegation in Caracas on Friday. 

The team of US politicians was led by Florida Republican Representative Brian Mast, a military veteran who also served voluntarily in the Israeli armed forces. It also included Florida Republican representatives Randy Fine and Kat Cammack alongside Illinois Democratic representative Jonathan Jackson. 

According to Venezuelan state media, the high-level meeting saw the two sides “assess progress in bilateral relations and the joint agenda in strategic areas.”

“Both sides reviewed bilateral cooperation schemes geared toward fighting transnational organized crime and border security,” the official report said.

For his part, Fine wrote on social media that he was “honored” to take part in the first congressional delegation to Venezuela in a decade. He added that the US’ January 3 kidnapping of President Nicolás Maduro “set Venezuela on a trajectory to be a key ally” of the US. 

Fine, like Mast, is a major advocate of Israeli interests in the US legislature and has the backing of the American Israel Public Affairs Committee (AIPAC). He has publicly called for starving and dropping nuclear bombs on the Gaza Strip. 

Also participating in the summit were US Chargé d’Affaires in Venezuela John Barrett, Venezuelan Foreign Minister Félix Plasencia, and Vice Minister for Europe and North America Oliver Blanco.

Blanco, who comes from the ranks of the opposition Democratic Action (AD) party, has been the main government liaison with US officials in the country. He was recently appointed First Vice Minister of the Ministry of Foreign Affairs in order to “strengthen Venezuela’s foreign policy and peace diplomacy around the world.”

In addition, the US Congress members held talks with National Assembly President Jorge Rodríguez, who described the meeting as “fruitful” and said discussions focused on “the legislative agenda and international investment.” Rodríguez added that Venezuela took the opportunity to “thank the United States for its support” following the June 24 twin earthquakes.

The US lawmakers held subsequent meetings with officials from Venezuela’s Ministry of Defense and the National Anti-Drug Superintendency (Sunad), according to reports.

Following the January 3 US military strikes and Maduro kidnapping, the Rodríguez-led acting government fast-tracked a diplomatic rapprochement with Washington following seven years of severed ties. Both administrations have opened their respective embassies.

Venezuela’s acting president has hosted a number of US officials in Caracas in recent months, including Energy Secretary Chris Wright, Interior Secretary Doug Burgum, and CIA Director John Ratcliffe.

Last March, Rodríguez had already received a delegation from the US Senate Foreign Relations Committee as part of the ongoing “peace dialogue” between Washington and Caracas.

At that time, the presidential press office said the Senate delegation had traveled to Caracas for a “technical and political” visit intended to continue the bilateral “roadmap” focused on “direct communication to manage historical differences and strengthen energy cooperation in light of global challenges.”

Venezuela and Peru Move Toward Restoring Relations

Caracas’ foreign policy shift has likewise seen authorities mend ties with regional US allies that had sought to isolate the Caribbean nation.

On Friday, the governments of Venezuela and Peru announced the start of a gradual process to fully restore diplomatic relations, which were severed in 2024 after the Peruvian government refused to recognize Venezuela’s official electoral results that saw Maduro secure a third term in office.

“In a first stage, both countries have agreed to reactivate consular relations as an initial step toward the full restoration of bilateral ties,” the foreign ministries of Venezuela and Peru said in a joint statement.

The immediate objective is to guarantee protection and consular services for Venezuelan and Peruvian citizens residing in each country. The diplomatic rapprochement comes days before a change of government in Peru, where conservative leader Keiko Fujimori is set to replace interim President José María Balcázar after a narrow and disputed electoral triumph.

Edited by Ricardo Vaz in Caracas.

Experience took on youth Tuesday morning at Wimbledon’s Centre Court as 44-year-old tennis legend Serena Williams played her first singles match in nearly four years, against 20-year-old Australian Maya Joint.

Advantage: youth, as Joint pulled out a 6-3, 6-7 (6), 6-3 win over the 23-time Grand Slam champion, and advances to play 29-seed Alexandra Eala of the Philippines — a 6-1, 6-2 winner over Renata Zarazúa of Mexico — on Thursday.

“She has such an aura. She’s such a legend,” Joint said of Williams during an on-court interview after her first-ever Wimbledon win. “And this court has so many huge names that have played on it. I’ve been dreaming about this moment since I was a little kid, so this is pretty crazy.”

As she and Joint entered the court, Williams received a standing ovation from a crowd that included her husband, Alexis Ohanian, their daughters, Olympia, 8, and Adira, 2, and her sister/doubles partner, Venus Williams.

Williams hit a 121-mph ace to hold 3-3 in the first set but later had a double fault that led to the only break of the set. She also notched a 122-mph serve in the second set, during which she also saved four break points to hold for a 6-5 advantage.

Another boisterous ovation came after Williams clinched a tiebreaker to win the second set. She remained focused, celebrating with only a fist pump, before the crowd launched into a “Let’s go, Serena, let’s go!” chant.

After taking a 2-1 lead in the deciding set, however, Williams was unable to keep up the momentum and dropped three straight games and four of the next five. She did not speak to reporters after the match but released a statement through Wimbledon organizers.

“It was really great to be back at Wimbledon. I never expected to be here,” Williams said. “The atmosphere was amazing. Walking out was amazing. I definitely relished it and missed it and enjoyed the moment more than anything.”

Williams has won seven Wimbledon titles (two shy of Martina Navratilova’s record) and entered Tuesday’s match with a 98-14 overall record at the tournament. She retired in September 2022 following a loss to Australian Ajla Tomljanovic in the third round of the U.S. Open.

Williams returned to professional tennis in doubles earlier this month. She and Canadian Victoria Mboko won their opening match at the HSBC Queen’s Club Championships in London before having to drop out because of an injury to Mboko. Williams and Czech star Karolína Muchová lost their opening match at the WTA 500 Berlin Open.

Williams and Venus were given a wild card to play Wimbledon doubles, with their opening match scheduled for later this week. The duo has won 14 Grand Slam doubles titles together, including six at Wimbledon.

Although unranked in singles following her lengthy hiatus, Williams spent 319 weeks at No. 1 on the WTA’s rankings, including 186 straight weeks from February 2013 to September 2016.

Joint entered Tuesday’s match with a slightly more modest resume. She has won her opening matches at each of the last U.S. Opens, which accounted for all of her singles wins in Grand Slam tournaments until Tuesday.

In February, Joint ranked a career-high No. 28 in the world but has dropped to No. 87 after going 3-15 in singles matches so far in 2026. She is 131-83 overall with two WTA tournament singles wins, both in 2025.

Serena Williams walked out onto Wimbledon’s Centre Court, closed her eyes, took a deep breath and smiled at the ovation that greeted her.

Williams has consistently said she has nothing left to prove as she resumes the tennis career from which she evolved away in 2022.

But no-one was sure what to expect on Tuesday evening when she faced Australia’s Maya Joint in what was the 44-year-old’s first singles match in four years.

There would have been a moment of relief for Williams when she won her first point at SW19 for 1,462 days – a forced error from Joint in response to a huge return of serve from the American.

The match ended in a 6-3 6-7 (6-8) 6-3 win for Joint, who started strongly, weathered a second-set dip, and regrouped impressively from a break down in the third.

The competitive nature that propelled Williams to 23 Grand Slam titles means she will not be satisfied with the outcome. She has often said she hates losing more than she loves winning.

And this was not vintage Williams. She played better as the match went on before fading in the third set. There were, however, glimpses of the player that dominated the WTA Tour for over two decades.

“I was a bit cynical and very curious about what was going to happen in this match,” former Wimbledon champion Pat Cash said on BBC Radio 5 Live.

“What we saw is two people playing very good tennis and Maya being able to handle the pace of Serena.

“Serena played an incredible level. If she wants to play this way and play some more tennis, she is going to be a real handful.

“Serena played better now than she did at the end [of her career] four years ago.”

The Trump administration has frequently accused US allies of failing to live up to mutual defence obligations.

The United States has said it will not take part in a joint board for continental defence with Canada, depicting the country as failing to live up to its defence obligations.

On Monday, US Undersecretary of Defense Elbridge Colby wrote on social media that his department would halt its involvement in the Permanent Joint Board on Defense to “reassess” the forum’s benefits.

The board dates back to World War II and has served as a forum for regional security. But relations with Canada have grown strained since US President Donald Trump returned to office for a second term in 2025.

“A strong Canada that prioritizes hard power over rhetoric benefits us all. Unfortunately, Canada has failed to make credible progress on its defense commitments,” Colby wrote on X.

“We can no longer avoid the gaps between rhetoric and reality. Real powers must sustain our rhetoric with shared defense and security responsibilities.”

The announcement is the latest instance of the Trump administration chiding Western allies for what the president believes is an overreliance on US military power.

Allied countries have largely refuted his claims, arguing that they are ramping up military spending and taking steps to take greater control over regional security.

Just last year, at a NATO summit in The Hague, nearly every member state agreed to increase defence spending to 5 percent of their gross domestic product (GDP). Spain petitioned to be excluded from the agreement, though.

Canada, under Prime Minister Mark Carney, was among the countries committing to the increased spending.

Of the 5 percent earmarked for defence, 3.5 percent would go to bolstering Canada’s “core military capabilities”, Carney’s government said. The rest would go to security-related expenses, including port improvements, emergency preparedness and other resources.

Since taking office as prime minister in March 2025, Carney has been an outspoken supporter of lessening Canada’s dependence on the US’s military and economy.

In a speech this year, he outlined a vision in which “middle powers” like Canada banded together to sidestep the current “era of great power rivalry”, a veiled reference to countries like the US, Russia and China.

While the US and Canada are neighbours, Trump’s second presidency has resulted in fraying bonds between the two countries, even beyond matters of security.

Trump has accused Canada of pursuing unfair trade policies and failing to crack down on the illicit traffic of people and drugs across the border, though critics have questioned the legitimacy of these claims.

To force Canada to comply with his policies, the US president has pursued an aggressive tariff regimen to tax cross-border imports.

Trump has suggested in the past that Canada could avoid such penalties by ceding its sovereignty and becoming the US’s 51st state.

“Cooler and wiser brains are needed to preserve a close alliance w/ our neighbor,” US Republican Representative Don Bacon said in a social media post on Monday, criticising the decision to pull out of the defence forum with Canada.

“This all started w/ taunts of ‘Canada will be the 51st state’ and ‘their Prime Minister will be the 51st governor’. The insults gained us nothing but animosity that cost us economically and now militarily.”

The US, Canada and Mexico are set to negotiate an updated version of a regional free trade agreement, known as the USMCA, later this year.

Foreign ministers from the BRICS nations ended a two day meeting in New Delhi without issuing a joint statement, highlighting deep divisions within the bloc over the ongoing conflict involving Iran, the United States, and Israel.

The diplomatic gathering brought together representatives from an increasingly diverse and politically complex alliance that now includes both Iran and the United Arab Emirates, two regional rivals currently on opposite sides of the escalating Middle East crisis.

Because member states could not agree on language regarding the war, host country India released only a chair’s statement summarizing discussions rather than a unified declaration endorsed by all participants.

Iran Pushes for Stronger Condemnation

Iran reportedly sought a stronger collective position condemning the United States and Israel for military operations against it.

Tehran also accused the UAE, a close American partner in the Gulf region, of involvement in military activities linked to the conflict.

Iranian Foreign Minister Abbas Araqchi stated that one BRICS member blocked sections of the proposed statement, although he did not directly name the UAE.

Araqchi attempted to soften tensions publicly by emphasizing that Iran did not view the UAE itself as a direct target in the conflict. He argued that Iranian strikes had focused only on American military facilities located on Emirati territory.

At the same time, he expressed hope that relations inside BRICS could improve before the leaders’ summit later this year.

India’s Carefully Balanced Position

India’s final chair statement revealed the difficulty of managing competing geopolitical interests within the expanded BRICS bloc.

The document acknowledged that member countries held different perspectives regarding the Middle East crisis. According to the statement, discussions included calls for diplomacy, respect for sovereignty, protection of civilian lives, and the importance of maintaining secure maritime trade routes.

However, the absence of a formal joint declaration demonstrated that BRICS members remain divided on critical geopolitical questions.

India’s approach reflected its broader diplomatic strategy of balancing relations with multiple global powers simultaneously. New Delhi maintains close ties with the United States and Gulf countries while also preserving strategic partnerships with Russia, Iran, and China.

Gaza and Palestine Also Cause Disagreement

Divisions were not limited to the Iran conflict.

The chair statement noted that BRICS ministers reaffirmed support for Palestinian self determination and described Gaza as an inseparable part of the occupied Palestinian territories.

The document also supported efforts to unify Gaza and the West Bank under the Palestinian Authority and backed the establishment of an independent Palestinian state.

However, the statement acknowledged that one unnamed member state held reservations regarding aspects of the Gaza section as well.

This further illustrated the challenge of building unified foreign policy positions within a grouping that includes countries with vastly different regional interests and diplomatic alignments.

BRICS and the Global South Narrative

Despite internal disagreements, BRICS members emphasized the importance of cooperation among developing nations.

India’s statement described the Global South as an important force for positive international change during a period marked by rising geopolitical tensions, economic uncertainty, technological disruption, protectionism, and migration pressures.

The expanded BRICS bloc now includes:

• Brazil
• Russia
• India
• China
• South Africa
• Ethiopia
• Egypt
• Iran
• UAE

The expansion of the bloc has increased its global economic and political weight but has also introduced more ideological and strategic divisions.

The Economic Impact on India

The Middle East conflict has had serious economic implications for India.

As one of the world’s largest oil importers, India depends heavily on energy shipments passing through the Strait of Hormuz. The disruption of maritime traffic in the region has increased energy costs and raised concerns about inflation and supply stability.

Indian personnel have reportedly been killed in incidents linked to the regional conflict, while an India flagged vessel was sunk during the recent escalation.

Against this backdrop, Indian Prime Minister Narendra Modi visited the UAE and publicly condemned attacks targeting the Gulf nation.

Modi praised the UAE’s restraint and described attacks against it as unacceptable, signaling India’s effort to maintain strong ties with key Gulf partners despite its participation alongside Iran in BRICS.

Analysis

The failure of BRICS foreign ministers to produce a joint statement highlights the growing contradictions inside the expanded organization.

Originally conceived as an economic coalition of major emerging powers, BRICS increasingly aspires to become a broader geopolitical platform representing the Global South. However, the inclusion of regional rivals and states with conflicting strategic interests makes unified diplomacy increasingly difficult.

The Iran conflict exposed these tensions clearly. Iran sought solidarity against the United States and Israel, while Gulf states inside the bloc maintain close security relationships with Washington and face direct security threats from Tehran.

India’s cautious wording reflected the reality that BRICS currently functions more as a flexible diplomatic forum than a cohesive political alliance.

The episode also demonstrates a larger shift in global politics. As Western led institutions face criticism from many developing nations, alternative groupings like BRICS are gaining visibility. Yet these organizations must still overcome major internal disagreements if they hope to shape global governance effectively.

For India, the situation illustrates the complexity of its foreign policy position. New Delhi seeks leadership within the Global South while simultaneously maintaining relations with competing regional and global powers.

Ultimately, the Delhi meeting showed both the growing importance and the structural limitations of BRICS. The bloc may continue expanding economically and politically, but achieving consensus on major international crises will remain a significant challenge as geopolitical rivalries deepen across the world.

With information from Reuters.