Morning Briefing: July 31, 2025

ISTANBUL

Here’s a rundown of all the news you need to start your Thursday, including a high-level UN conference issuing the 'New York Declaration' supporting a 2-state solution for resolving the Israeli-Palestinian conflict, starvation killing 7 more Gazans amid an Israeli siege, and Japan warning the public to stay evacuated due to the threat of a tsunami triggered by a mega earthquake off Russia.

TOP STORIES​​​​​​​

• Türkiye, EU, Arab League, 16 countries endorse 'New York Declaration' supporting 2-state solution

The “New York Declaration,” launched at a United Nations conference, reaffirmed support for a two-state solution to the Palestinian-Israeli conflict amid a rising famine and humanitarian catastrophe in Gaza following Israeli assaults.

The declaration was issued at the conclusion of the High-Level International Conference on the Peaceful Settlement of the Palestinian Question and the Implementation of the Two-State Solution held under the joint chairmanship of Saudi Arabia and France.

"We agreed to take collective action to end the war in Gaza, to achieve a just, peaceful, and lasting settlement of the Israeli-Palestinian conflict based on the effective implementation of the two-state solution, and to build a better future for Palestinians, Israelis and all peoples of the region," the statement said.

• Starvation kills 7 more Gazans amid Israeli siege: Health Ministry

Seven more Palestinians died from starvation in the Gaza Strip in the last 24 hours amid a choking Israeli blockade, the Health Ministry said.

“Hospitals recorded seven fatalities in Gaza in the past 24 hours as a result of famine and malnutrition,” the ministry said in a statement.

The latest fatalities brought the death toll from starvation since October 2023 to 154, including 89 children.

Last week, the UN World Food Program (WFP) warned that one-third of Gaza’s population had gone without food for several consecutive days due to the Israeli siege.

• Japan warns public to stay evacuated due to threat of tsunami triggered by mega earthquake off Russia

Tsunami waves hit some parts of Japan's Pacific coastal regions after a mega earthquake struck off Russia, with authorities urging tens of thousands of residents in affected areas to stay evacuated, according to broadcaster NHK.

According to Japan’s Meteorological Agency, a 60-centimeter (2-foot) tsunami was observed at Kuji Port in Iwate province and the town of Hamanaka in Hokkaido, while Ishinomaki Port in Miyagi province recorded 50-centimeter (1.64-foot) waves.

The Tohoku and Kanto regions also saw elevated wave activity, including a 30-centimter (1-foot) surge at Yokohama Port.

Earlier in the day, smaller waves were observed along Hokkaido’s eastern coast, with 30 centimeters at Hanasaki Port in Nemuro at 10.30 am (0130GMT), Hamanaka at 10.36 am (0136GMT) and Kushiro Port at 10.42 am (0142GMT).

NEWS IN BRIEF

• Canada announced that it would recognize Palestine as a state in September amid the "intolerable" humanitarian situation in the Gaza Strip.
• US President Donald Trump suggested that the range of additional penalties he has threatened to impose on India amid their simmering trade war could include measures against the BRICS bloc of nations.
• China issued a tsunami warning in some coastal areas after a powerful 8.8 magnitude earthquake struck off Russia’s Kamchatka Peninsula, according to state-run media.
• Finland announced its support for France’s declaration promoting a two-state solution to the Israeli-Palestinian conflict, signaling the future recognition of Palestine as part of a broader peace framework.
• India vowed to take “all steps necessary” to secure “our national interest” hours after US President Donald Trump announced that the South Asian nation will face a 25% tariff plus additional penalties starting Aug. 1.
• The Hawaiian Islands have seen no "wave of consequence" after tsunami alerts were issued following an 8.8 magnitude earthquake off Russia's Kamchatka Peninsula, said the governor of the US state.
• China urged Israel to lift its siege on Gaza and allow humanitarian access while reiterating its support for the establishment of an independent Palestinian state.
• The speaker of the Palestinian National Council strongly criticized the Israeli aid mechanism, the controversial Gaza Humanitarian Foundation (GHF), for failing to protect civilians during aid distribution, accusing the initiative of turning into "execution sites" for ongoing Israeli attacks.
• The Russian Academy of Sciences said the Klyuchevskoy volcano started erupting after the morning earthquake.
• Australian Prime Minister Anthony Albanese is preparing the ground for a "historic" shift on Palestine as Canberra will recognize a Palestinian state, and "it is only a matter of when and how," the Australian Broadcasting Corporation reported.
• The Turkish National Security Council said preventing attacks targeting Syria's sovereignty remains a priority.
• Belgian authorities have referred war crimes complaints filed against two Israeli soldiers to the International Criminal Court (ICC), the Federal Public Prosecutor's Office announced.

BUSINESS & ECONOMY

• Trump says he struck trade deal with Pakistan

US President Donald Trump said his administration has struck a trade deal with Pakistan as talks continue with other nations, including South Korea, ahead of his self-imposed Aug. 1 deadline.

Trump said the deal with Pakistan includes joint development of the country's "massive" oil reserves.

"We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India some day!" he said on social media.

Additional details on that agreement were not immediately available, but Trump said his administration is "very busy in the White House today working on Trade Deals," including a planned meeting with South Korea's representatives at the White House.

• US Federal Reserve keeps interest rate unchanged, as expected

The US Federal Reserve held its benchmark federal funds rate unchanged between the 4.25% - 4.50% target range, as widely expected.

"Although swings in net exports continue to affect the data, recent indicators suggest that growth of economic activity moderated in the first half of the year," the Fed said in a statement.

It said the Federal Open Market Committee (FOMC) seeks to achieve maximum employment and inflation at the rate of 2% in the longer run.

"The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated, it noted.

The Fed said in considering the extent and timing of additional adjustments to the target range for the policy, the FOMC will "carefully" assess incoming data, the evolving outlook and the balance of risks.