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Namrata L Ghanghatkar, Priyanka Makhijani and Urja R Kudalkar
2 August 2026 |
Keiko Fujimori
Peru's new President
Keiko Fujimori, 51, was sworn in as Peru's president on 28 July after narrowly winning the presidential run-off, returning her conservative Popular Force party to power at a time when Peru faces political instability, rising crime, and slowing economic confidence. Fujimori placed security at the centre of her agenda. She promised a tougher response to organised crime, drug trafficking, and illegal mining, including a greater role for the military in supporting police operations. She also proposed building a high-security prison and strengthening the justice system through anonymous judges for organised crime cases. Her economic programme emphasises private investment, particularly in mining and infrastructure, to encourage public-private partnerships, improve conditions for businesses, and increase the minimum wage by 15 per cent. Fujimori also promised measures to strengthen disaster preparedness ahead of future El Niño events.
Together with allied conservative parties, Popular Force holds significant influence in the restored bicameral legislature. The party campaigned on restoring stability after years of frequent government changes. Despite her victory, critics continue to question her. Her father's authoritarian rule and human rights convictions still shadow her, fueling public distrust. Fujimori has responded by promising dialogue, national reconciliation, and a government focused on delivering practical results for Peruvians.
Netanyahu’s US visit
Focus on Iran, Gaza and Middle East security
Israeli Prime Minister Benjamin Netanyahu’s visit to Washington for talks with US President Donald Trump focused on the future direction of US-Israel policy in the Middle East, with Iran emerging as the main issue of discussion amid ongoing tensions following the US-Israeli military campaign against Iran. Netanyahu is expected to urge Trump to maintain a firm approach towards Tehran, arguing that Iran continues to pose a major security threat and that future negotiations over its nuclear programme should include strict conditions. Trump, while continuing pressure on Iran, has shown interest in exploring diplomatic options.
Discussions focused on preventing Iran from rebuilding its nuclear and military capabilities, possible frameworks for future negotiations, and responses if Tehran resumes uranium enrichment or expands its regional activities. The leaders also discussed Gaza, including efforts to stabilise the territory, humanitarian concerns, future governance arrangements and international involvement, alongside developments in Lebanon and measures to reduce tensions along Israel’s northern border. The visit came amid reported differences over handling Iran and regional conflicts. The talks also covered broader regional diplomacy, including expanding the Abraham Accords and strengthening US-Israel cooperation, reaffirming the strategic partnership while addressing disagreements over future policies.
Samsung's record profit
Actual second quarter earnings beat forecasts
On 30 July, Reuters reported that Samsung Electronics posted a record operating profit for the April-June quarter, with earnings jumping more than 19-fold from a year earlier as robust demand for AI memory chips offset weaker earnings at its mobile business. Samsung had flagged the jump on 07 July, estimating operating profit at KRW 89.4 trillion. The actual results, released on 30 July, came in at KRW 89.5 trillion (USD 61.98 billion), almost exactly matching the earlier guidance and up sharply from KRW 4.68 trillion a year earlier. Revenue rose 130 per cent to KRW 171.5 trillion, The Hindu and CNBC reported, citing the company.
Nearly all the profit came from the semiconductor business, boosted by rising chip prices and higher shipments of high-bandwidth memory used in AI servers, Euronews reported. The mobile and networks division swung to an operating loss of KRW 700 billion on elevated component costs, even as revenue grew on strong Galaxy S26 and Galaxy A sales. Samsung expects robust server-driven memory demand to continue into the second half of 2026. Despite the record results, its shares have fallen sharply this week on investor concerns over capacity expansion and rising competition from China.
The US sanctions on russia
The Senate advances Graham's Russia sanctions bill
On 28 July, the US Senate voted 86-12 to invoke cloture and advance the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, penalising Moscow over its war in Ukraine. The vote came hours after senators memorialised Graham, who died on 11 July, and shortly after they met Ukrainian President Volodymyr Zelenskyy, who watched from the gallery and thanked senators as the war neared its four-and-a-half-year mark. Senator Roger Wicker said the bill targets Vladimir Putin, his inner circle, the shadow fleet used to evade sanctions, and those purchasing the most Russian oil and gas. The bill penalises Russian officials, oligarchs, banks, and financial institutions, while empowering the president to impose tariffs of up to 100 per cent on the largest purchasers of Russian oil and gas, with the top five buyers reassessed every 180 days.
The bill, which has 62 co-sponsors, also extends the Iran Sanctions Act by five years. It requires House approval, where Democrats have expressed reservations about expanding Trump's tariff authority; 11 Democrats and one Republican voted against it in the Senate. Senator Peter Welch opposed the bill, arguing its language on "facilitators" of oil sales could let Trump target countries arbitrarily.
US, Ukraine and the Patriot missiles
Trump agrees on Ukraine's production of US-designed air defence missiles
On 28 July, President Volodymyr Zelensky met President Donald Trump at the White House. Zelensky, confronting domestic fallout over dismissing Ukraine's defence minister and army chief, sought to reboot stalled peace talks with Russia and press Trump to grant Ukraine a licence to produce US-designed Patriot air defence missiles domestically, following a pledge made at this month's NATO summit. Ukraine needs the interceptors, which strike targets up to 1,000 kilometres away, to counter escalating Russian drone and ballistic missile attacks; Kyiv states 25 Patriot systems are needed, costing an estimated USD 3 million to USD 5 million per missile.
Trump called the closed-door meeting "very good," and Zelenskyy reported that Trump agreed to grant the production licences, adding he subsequently met US defence manufacturers to discuss co-production. The leaders also discussed a potential ceasefire on long-range airstrikes and the broader peace process. Domestic production would shore up Zelensky's approval ratings, though the key remaining question is where Ukraine can produce the systems securely and quickly enough to shift the balance of the war.
China’s PLA
99th founding anniversary; President Xi Jinping urges "intelligent military system"
On 31 July and 01 August, Global Times and other major sources reported that the People's Liberation Army (PLA) marked its 99th founding anniversary on 1 August, with President Xi Jinping directing the military to accelerate the application of artificial intelligence (AI) ahead of the milestone. Speaking at a Politburo study session, Xi said the PLA should "strengthen the military application of unmanned intelligent technologies… and gradually build an intelligent military system," stressing the importance of meeting the PLA's 2027 centenary modernisation goal on schedule. As chairman of the Central Military Commission, Xi said the campaign to build a stronger military had achieved "historic transformations" and called for sustained progress in the military's anti-corruption campaign, which has removed senior commanders, including two former defence ministers.
Founded in 1927 after the Nanchang Uprising, the PLA aims to broadly modernise defence by 2035 and build a "world-class" military by 2049, the People's Republic's centenary. Global Times reported that the promotional documentary "Zhisheng" unveiled new footage of missile launches and drone strikes. CGTN reported that the Ministry of National Defence hosted a reception at Beijing's Great Hall of the People, where Defence Minister Dong Jun addressed service members.
