World News

China’s central bank increased its gold reserves by 23 tonnes in September, the largest monthly acquisition since October 2023, bringing total holdings to approximately 2,410 tonnes. This move aims to reduce reliance on US dollar assets amid rising geopolitical and financial risks, with private demand for gold also soaring as households seek secure savings options.

Mexico’s lower house has passed a constitutional amendment enabling the nullification of election results on grounds of foreign interference, with a vote tally of 307 in favour and 128 against. Critics warn the measure could undermine electoral integrity, while proponents view it as a safeguard for democracy. The amendment requires Senate approval and defines foreign interference broadly, including illicit financing and propaganda.

The United States plans to designate the Primeiro Comando da Capital (PCC) and Comando Vermelho as “terrorist” organisations. Secretary of State Marco Rubio stated this decision aims to disrupt drug trafficking and enhance US national security. The designation takes effect on June 5, blocking access to US assets.

The US Treasury has issued a stark warning to Oman regarding potential sanctions if the nation aids Iran in establishing a toll system in the Strait of Hormuz. Treasury Secretary Scott Bessent emphasised that all countries must reject Iranian attempts to disrupt maritime commerce, asserting Washington’s commitment to free passage in the vital waterway.

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