Briefly

THAILAND

Fireworks factory explosion kills 9

Nine people were killed and two others injured in a fireworks factory explosion in central Thailand's Suphan Buri Province on Wednesday, local authorities said. According to the Department of Disaster Prevention and Mitigation, the explosion occurred at 11:10 am, prompting emergency services to respond and transport the injured to a nearby hospital. The authorities were currently investigating the cause of the explosion. Last year, an explosion at another fireworks factory in the same province killed at least 23 people.

UNITED STATES

Fed set to hold firm against pressure

The US central bank is expected to defy political pressure and keep interest rates unchanged on Wednesday at the end of a two-day policy meeting, as the effects of President Donald Trump's tariffs emerge. The Federal Reserve's decision, due to be announced at 2 pm, comes amid a flurry of data releases this week, including an early estimate of second-quarter economic growth. Analysts broadly expect the Fed to hold interest rates steady at a range between 4.25 percent and 4.50 percent. Its last reduction was in December.

GERMANY

Economy shrinks in second quarter

The German economy unexpectedly shrank in the second quarter, official data showed on Wednesday, a bad sign for the eurozone's traditional powerhouse as it seeks to recover from a long downturn. Gross domestic product was down 0.1 percent from the previous quarter, according to preliminary data from the federal statistics agency Destatis. Also on Wednesday, the cabinet approved a 2026 draft budget featuring record investment of 126.7 billion euros ($146.41 billion).

Agencies - Xinhua