Diplomatic tensions between Canada and the Kingdom of Saudi Arabia have escalated further with Canadian Prime Minister Justin Trudeau dismisses the Saudi Arabian call for an apology. Previously, Prime Minister Trudeau criticized Saudi Arabia for jailing women's rights activists.

The United States of America is set to reimpose sanctions on Iran that will target the automotive and precious metals sectors of the country. Sanctions will be implemented Tuesday August 7, 2018.

Djibouti is facing a significant debt to China. The Belt and Road Initiative has provided a means for smaller, less developed countries to finance desperately needed infrastructure projects. However, some additional financing does go to other unneeded and unsustainable projects, causing heavy debt burdens. Djibouti is positioned to take on public debt worth around 88 percent of the country’s overall $1.72 billion GDP, with China being own a large portion of this figure.

The White House will be releasing information on additional sanctions that will be placed on Iran. In the meanwhile, Iran has received five new commercial ATR72 - 600 airplanes to assist its already outdated fleet.

Central Asian energy giant Kazakhstan has completed the Taldykorgan-Tekeli gas pipeline three months ahead of schedule. The pipeline adds to the ever-expanding network of oil and gas infrastructure in the country and is expected to benefit the entire city of Tekeli, delivering around 43,700 cubic meters of gas per hour.

United States of America President Donald Trump escalates trade war tensions with China as he threatens further tariffs, tweeting that trade wars benefit America. The ensuing policy considers imposing 25% tariffs on an estimated $200 billion USD worth of Chinese goods, which is much higher than the initially estimated 10%. On August 3, 2018, China confirmed that in retaliation it plans to release a list of $60 billion USD worth of American goods that will be hit with analogous tariffs.

Since taking office after the resignation of his predecessor in February 2018, Prime Minister Abiy Ahmed has made significant reforms in the political landscape of Ethiopia; the most notable of which is his policy of rapprochement towards Eritrea. On June 5th, 2018, the new Prime Minister agreed to fully implement the Algiers Agreement. The Agreement was signed in 2000 by the late Prime Minister Meles Zenawi in accordance with the demarcation of the border boundary set forth by the boundary commission to end the 1998 Ethiopia - Eritrea war and cede land to Eritrea. This landmark move has

Chaos erupts and fatalities are reported in the Zimbabwe capital of Harare as the state-sponsored army supporting President Emmerson Mnangagwa violently dispersed opposition protesters supporting the Movement for Democratic Change party of Nelson Chamisa.

Djibouti President Ismail Omar Guelleh is expected to travel to the Eritrean capital of Asmara later this week to engage with direct bilateral talks with Eritrean President Isaias Afwerki. Some consider this meeting a final hurdle for Eritrea to overcome in order to have United Nations sanctions over the country lifted. The meeting is also viewed as renewing regional optimism to the recently obtained peace agreement between Ethiopia and Eritrea as well as fostering East African economic integration.

The price of gold has been in decline this year, with the price of silver following a similar trajectory. While precious metals are expected to lose value further, it is important to note that the materials are likely in a state of loss due to the global financial climate.