Disrupted trade and domestic charges raise electronics costs in Iran

Iran’s electronics buyers face higher costs as trade routes shrink

Iran’s electronics buyers face rising costs as disrupted trade and domestic charges squeeze purchases, Al Jazeera reports. A Tehran teacher said replacing her phone would require selling her current device, using savings and borrowing from her parents; many acquaintances were repairing older devices instead.

UK regulator Ofgem approves deal to preserve winter gas imports

UK regulator Ofgem has approved National Gas’s agreement to preserve a Belgian pipeline’s capacity for winter gas imports. Energy system operators expect enough gas and electricity to meet demand, partly by paying higher market prices than neighbouring markets to attract supplies.

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EU leaders mandate work on a China market-access cutoff

EU leaders have mandated European Commission work on a proposed power to cut off China’s access to the EU market, Euronews reports. The mandate advances a French and German proposal without adopting restrictions, while technical talks continue through the end of 2026 and political negotiations are scheduled for January and March 2027.

Brazil’s Congress enacts phased end to six-day working week

Brazil’s Congress enacted an end to the six-day working week on October 16 after two 75–1 Senate votes. The Labour Ministry estimates 14.9 million workers stand to benefit, with two paid weekly rest days and a 42-hour limit scheduled to begin 60 days after publication.

Great Britain’s retail sales fall 0.4% in September

Great Britain’s retail sales volumes fell 0.4% in September, against economists’ forecast of a 0.1% decline. Capital Economics says the figures and weaker consumer confidence support its forecast that inflation-adjusted consumer spending and economic output will stall in the fourth quarter of 2026 and first quarter of 2027.

Japan’s core inflation rises to 2.1% in September

Japan’s core inflation rose to 2.1% in September from 1.7% in August, matching market forecasts. Price growth also accelerated when fuel was excluded, while sources told Reuters the Bank of Japan was expected to hold rates steady at next week’s meeting but might raise its inflation forecast.

Malawi’s foreign-currency shortage disrupts fuel imports

Malawi’s foreign-currency shortage has disrupted fuel imports, the BBC reports. The government says it is addressing the country’s problems, while the opposition has asked Vice-President Jane Ansah to explain the response to shortages affecting daily life.

European Union enters winter with gas storage at 72%, report says

Al Jazeera reports European Union gas storage at 72%, against a usual 90%. The outlet reports gas prices up 140% since February and cites reports that ministers are considering whether to ask households and businesses to ration consumption.

Trump authorizes federal support to expand US petroleum capacity

Trump authorizes federal support for US petroleum capacity, covering exploration, refineries, pipelines, storage and marine terminals. The determination sets aside specified congressional notice and spending requirements, directing the Secretary of War to implement purchases, commitments and financial instruments.

Bank of Japan warns AI investment shock could hit banks

The Bank of Japan warns that weaker expectations for AI investment profits could spread through foreign financiers and Japanese banks' shareholdings. It says bank lending and financial conditions need scrutiny as it weighs when and how quickly to raise interest rates further.

Denmark’s government drops mink-farming exemption plan

Denmark’s government has abandoned plans to seek an exemption from European Union rules prohibiting the keeping of mink. Seven farms, with approximately 15,000 animals, must phase out production by August 2029.

Cambodia shuts six financial institutions as two banks stay under scrutiny

Cambodia has closed six financial institutions since 2025, five also targeted by US sanctions. The central bank cited regulatory breaches, deteriorating finances or no specific reason—not findings of scam-related crime. The IMF is urging regulators to investigate potential criminal links and close gaps in licensing rules.