This weekend, several global economic updates caught our attention. Here are the key takeaways:

OPEC+ Likely to Approve Another Output Hike for November
According to reports, OPEC+ is expected to approve another output hike for November, as oil prices continue to rise. This move is aimed at stabilizing the global oil market and preventing a supply glut. The exact amount of the increase is still unknown, but it’s likely to be around 500,000 barrels per day.

China Industrial Profit Rose Sharply in August
In August, China’s industrial profit rose significantly, reaching $13.7 billion, which is a 26% increase from the previous month. This growth can be attributed to the country’s ongoing economic recovery and increased demand for goods.

Australia Set to Hold Key Rate as Scope for Further Easing Slims
The Reserve Bank of Australia (RBA) is expected to hold its key rate steady this week, as the scope for further easing has narrowed. While inflation remains subdued, the RBA may still consider cutting rates in the future if necessary.

Fed’s Miran Math May Overstate Impact of Immigration on Inflation
A recent study by the Federal Reserve Bank of San Francisco suggests that immigration may not have as significant an impact on inflation as previously thought. The study found that immigrants tend to be less price-sensitive than native-born Americans, which could lead to lower inflation rates.

Bond Traders Say Rally Hinges on Jobs Data at Risk From Shutdown
The ongoing government shutdown has raised concerns among bond traders, who fear that the data delay could impact the economy’s ability to grow. If the shutdown continues, it could lead to a slowdown in economic growth and potentially derail the recent rally in bond prices.

Trump to Host Last-Ditch Talks to Avoid Government Shutdown
In an effort to avoid a second government shutdown in as many months, President Trump will host last-ditch talks with congressional leaders. The main sticking points include funding for the border wall and immigration reform.

Trump to Attend Pentagon Meeting With Top Commanders
President Trump is set to attend a meeting at the Pentagon with top military commanders, where they will discuss ongoing military operations and strategic plans. This meeting comes as tensions between the US and Iran remain high following the recent attack on Saudi Arabia’s oil facilities.

Xi Is Chasing A Huge Concession From Trump to Opposing Taiwan
According to reports, Chinese President Xi Jinping is seeking a major concession from President Trump regarding Taiwan. Xi has reportedly asked Trump to endorse the “One China” policy, which would effectively recognize China’s claim over Taiwan. However, it remains unclear whether Trump will make any significant moves on this issue.

Trump Calls for Firing of Microsoft Global Affairs Chief
President Trump has called for the firing of Microsoft’s global affairs chief, who he accuses of being “very unfair” to him and his administration. This move comes as part of a broader effort by Trump to exert more control over the tech industry.

Supreme Court Allows Trump to Withhold $4B in Foreign Aid
The Supreme Court has allowed President Trump to withhold $4 billion in foreign aid, which was challenged by several states and advocacy groups. The ruling is seen as a victory for the Trump administration’s efforts to curb foreign aid spending.

Germany’s Kloeckner Sells US Sites to Bolster Profitability
Kloeckner, a German-based company, has announced plans to sell its US sites in an effort to bolster profitability. The company cited ongoing challenges in the US market as the reason for this decision.

Pfizer Sued in US Over Contraceptive Women Say Caused Brain Tumors
A lawsuit has been filed against Pfizer in the US, alleging that their contraceptive drug caused brain tumors in several women. The company denies these claims and is currently facing a class-action lawsuit.

Toyota Workers in Brazil Approve Temporary Layoff Plan, Union Says
Toyota workers in Brazil have approved a temporary layoff plan, which will impact around 3,000 employees. This move comes as the company faces ongoing challenges in the South American market.

Occidental Petroleum In Talks to Sell OxyChem Unit, FT Says
Occidental Petroleum is reportedly in talks to sell its OxyChem unit, which could fetch around $2 billion. This move comes as part of the company’s efforts to reduce debt and improve financial performance.

US Sanctions on Serbia’s Russian-Owned Oil Company NIS Postponed
The US has postponed sanctions on Serbia’s Russian-owned oil company, NIS, citing progress in talks between the two countries. The move is seen as a positive development for regional stability and energy security.

Russia Hits Ukraine With Massive Overnight Attack
In an escalation of tensions between Russia and Ukraine, Russia has launched a massive overnight attack on Ukrainian positions. This move comes after several weeks of increased military activity in the region.

Israeli Troops Reach Heart of Gaza City as Fighting Intensifies
As fighting in Gaza intensifies, Israeli troops have reached the heart of the city. The situation remains fluid and volatile, with both sides suffering casualties.