Philippines: Typhoon Kills 38 in Philippines, Millions Without Power
A powerful typhoon hit Philippines on 16 July and killed 38 people. The powerful storm left millions without power. According to officials, the typhoon caused about USD 1 million in damage to infrastructure. (Source: BBC)

G20: Australian PM Abbott Expects G20 Members to Miss Growth Target
Australian Prime Minister Tony Abbott said that G20 member countries would not achieve the goal to increase collective GDP by an additional 2.0% over the coming five years as they failed to enact policies for boosting growth. He expects member states to only achieve broadly half of the additional growth target. (Source: Reuters)

BRICS: How BRICS Bank Hurts India’s Modi
The selection of Shanghai as the headquarters for the BRICS Development Bank rather than Mumbai could hurt Indian Prime Minister Narendra Modi’s domestic ratings. (Source: CNBC)

Australia: Australia Votes to Repeal Carbon Tax
Prime Minister Tony Abbott, whose Liberal-National coalition beat Labor in an election last year, had made the repeal a central aim of his government. Politicians have been locked in a fierce row about the tax for years. (Source: BBC News)

Russia: US Significantly Escalates Sanctions Against Russia over Ukraine
Barack Obama announced a significant escalation in sanctions against Russia on Wednesday, with measures targeting some of the country’s largest energy corporations and banks as punishment for Moscow’s alleged continued support for Ukrainian separatists. (Source: The Guardian)

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