
Croatia holds military parade as it marks 30 years since a key war victory
A flyover in Zagreb by French-made Rafale jets was a highlight of the show that included 3,400 army personnel along with police units, emergency service teams and war veterans. Navy battle ships sailed simultaneously by the Adriatic Sea port of Split.
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11 hours ago
- Yahoo
Eurozone inflation holds at 2% as the euro slumps against the dollar
Inflation no longer appears to be a pressing concern in the eurozone, holding steady at a level that allows the European Central Bank (ECB) some breathing space — at least for now. According to preliminary figures released by Eurostat on Friday, consumer prices rose 2% year-on-year in July, the same pace as in June. On a monthly basis, prices were flat. Although economists had expected a slight dip to 1.9% year-over-year, the reading validates the ECB's strategy following years of persistent inflationary pressure. Looking at the main categories, food, alcohol and tobacco saw the highest annual inflation rate at 3.3% in July, up from 3.1% in June. Services followed at 3.1%, down from 3.3%, while non-energy industrial goods rose to 0.8%. Energy prices stayed in negative territory at -2.5%. Core inflation, which excludes volatile food and energy prices, was unchanged at 2.3%, though the monthly figure slipped by 0.2% — the first negative reading since January 2025. Among member states, Estonia and Croatia recorded the highest annual inflation rates at 5.6% and 4.5% respectively, while France and Cyprus saw the lowest, at 0.9% and 0.1%. On a month-to-month basis, prices in Croatia jumped by 1.2%, while Italy saw a notable decline of 1%. ECB policy outlook: Wait and see The ECB held interest rates steady in July, signalling the end of a year-long easing cycle that saw borrowing costs lowered eight times to levels not seen since November 2022. Last week, President Christine Lagarde noted the central bank is 'in a good place' but cautioned that assessing the future impact of tariffs remains difficult amid a mix of inflationary and disinflationary forces. This inflation data reinforces the ECB's current wait-and-see approach, with policymakers now looking at how the EU-US trade deal will shape the price environment. Related Eurozone growth slows: Spain leads and Germany contracts Spain's economy grows 0.7% as it continues to outshine eurozone peers Is the euro under renewed pressure? After posting its best first-half performance since its inception, the single currency ended July in negative territory — its first monthly decline this year. Most of the losses occurred in the final week of the month, with the euro depreciating 2.8% against the US dollar to reach 1.14, a seven-week low. The turning point came as investors judged the newly announced trade deal between US President Donald Trump and European Commission President Ursula von der Leyen as more advantageous for Washington. This sentiment, combined with robust US economic data, an uptick in American inflation, and a Federal Reserve decision to hold rates steady at 4.25–4.50% without signalling imminent cuts, accelerated the euro's slide. This marked the euro's worst weekly performance since September 2022, when energy market turmoil pushed the currency below parity to a low of $0.9535. While current conditions are far less extreme than three years ago, upcoming data releases and the evolving impact of tariffs and trade policy will be crucial in determining the euro's trajectory through the remainder of the year. Market reaction: Equities retreat amid tariff uncertainty European equity markets came under pressure on Friday, as investors reacted to renewed trade tensions sparked by President Trump's announcement of a 10% baseline global tariff and additional retaliatory levies — ranging from 25% to 41% — on countries without formal trade agreements. India, Canada and Switzerland were among the hardest hit. China was notably excluded, pending a separate deadline on 12 August. The EURO STOXX 50 dropped 1.7%, while the broader STOXX 600 slipped 1.3%. National benchmarks also suffered: Germany's DAX fell 1.7%, Italy's FTSE MIB lost 1.9% and France's CAC 40 declined 1.8%. Several large-cap stocks posted steep losses. AXA tumbled 6% after reporting a drop in net income, while Daimler Truck shed 5% following a profit warning. Siemens Energy, Sartorius and Airbus also recorded losses of more than 3%. Pharmaceutical stocks faced renewed pressure after the US administration issued letters to 17 major drug manufacturers urging lower prices. Novo Nordisk dropped 4.7%, bringing its weekly decline to 33% — the steepest in the company's history. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Travel Weekly
13 hours ago
- Travel Weekly
Aman at Sea opens its ship for charter and event bookings
The first yacht in Aman's cruise brand, Aman at Sea, has opened for charter and event reservations, marking the first opportunity to book cabins on the vessel. The vessel, the 94-passenger Amangati, is scheduled to launch in 2027. Its inaugural season will be in the Mediterranean, with sailings that include the French and Italian rivieras; the Adriatic Sea, Greek Isles and Turkey; Spain; and the Bay of Naples and Amalfi Coast, according to its website. Aman declined to share details on the structure of charter reservations, including pricing and specific itineraries. The Amangati's 47 suites will range from 532 square feet to 1,972 square feet. Their design will be inspired by Japanese architecture, and each will have a private balcony. Suites will also include full-length windows, free-standing baths, lounge seating and king beds. Some will also have plunge pools, the company said. The vessel is under construction in Genoa, Italy. It is part of a new group of yachting-minded, luxury-market cruise lines spearheaded by big names in ultraluxury hospitality. Aman recently appointed Angela Composto as senior vice president for sales, marketing and reservations. Composto was previously vice president of sales and marketing at Orient Express Sailing Yachts.
Yahoo
a day ago
- Yahoo
Eurozone inflation holds at 2% as the euro slumps against the dollar
Inflation no longer appears to be a pressing concern in the eurozone, holding steady at a level that allows the European Central Bank (ECB) some breathing space — at least for now. According to preliminary figures released by Eurostat on Friday, consumer prices rose 2% year-on-year in July, the same pace as in June. On a monthly basis, prices were flat. Although economists had expected a slight dip to 1.9% year-over-year, the reading validates the ECB's strategy following years of persistent inflationary pressure. Looking at the main categories, food, alcohol and tobacco saw the highest annual inflation rate at 3.3% in July, up from 3.1% in June. Services followed at 3.1%, down from 3.3%, while non-energy industrial goods rose to 0.8%. Energy prices stayed in negative territory at -2.5%. Core inflation, which excludes volatile food and energy prices, was unchanged at 2.3%, though the monthly figure slipped by 0.2% — the first negative reading since January 2025. Among member states, Estonia and Croatia recorded the highest annual inflation rates at 5.6% and 4.5% respectively, while France and Cyprus saw the lowest, at 0.9% and 0.1%. On a month-to-month basis, prices in Croatia jumped by 1.2%, while Italy saw a notable decline of 1%. ECB policy outlook: Wait and see The ECB held interest rates steady in July, signalling the end of a year-long easing cycle that saw borrowing costs lowered eight times to levels not seen since November 2022. Last week, President Christine Lagarde noted the central bank is 'in a good place' but cautioned that assessing the future impact of tariffs remains difficult amid a mix of inflationary and disinflationary forces. This inflation data reinforces the ECB's current wait-and-see approach, with policymakers now looking at how the EU-US trade deal will shape the price environment. Related Eurozone growth slows: Spain leads and Germany contracts Spain's economy grows 0.7% as it continues to outshine eurozone peers Is the euro under renewed pressure? After posting its best first-half performance since its inception, the single currency ended July in negative territory — its first monthly decline this year. Most of the losses occurred in the final week of the month, with the euro depreciating 2.8% against the US dollar to reach 1.14, a seven-week low. The turning point came as investors judged the newly announced trade deal between US President Donald Trump and European Commission President Ursula von der Leyen as more advantageous for Washington. This sentiment, combined with robust US economic data, an uptick in American inflation, and a Federal Reserve decision to hold rates steady at 4.25–4.50% without signalling imminent cuts, accelerated the euro's slide. This marked the euro's worst weekly performance since September 2022, when energy market turmoil pushed the currency below parity to a low of $0.9535. While current conditions are far less extreme than three years ago, upcoming data releases and the evolving impact of tariffs and trade policy will be crucial in determining the euro's trajectory through the remainder of the year. Market reaction: Equities retreat amid tariff uncertainty European equity markets came under pressure on Friday, as investors reacted to renewed trade tensions sparked by President Trump's announcement of a 10% baseline global tariff and additional retaliatory levies — ranging from 25% to 41% — on countries without formal trade agreements. India, Canada and Switzerland were among the hardest hit. China was notably excluded, pending a separate deadline on 12 August. The EURO STOXX 50 dropped 1.7%, while the broader STOXX 600 slipped 1.3%. National benchmarks also suffered: Germany's DAX fell 1.7%, Italy's FTSE MIB lost 1.9% and France's CAC 40 declined 1.8%. Several large-cap stocks posted steep losses. AXA tumbled 6% after reporting a drop in net income, while Daimler Truck shed 5% following a profit warning. Siemens Energy, Sartorius and Airbus also recorded losses of more than 3%. Pharmaceutical stocks faced renewed pressure after the US administration issued letters to 17 major drug manufacturers urging lower prices. Novo Nordisk dropped 4.7%, bringing its weekly decline to 33% — the steepest in the company's history.