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US Treasury Secretary Scott Bessent reaffirmed that the Federal Reserve must remain independent, even as he admitted it has made “a lot of mistakes.”

Speaking near Washington, he defended President Trump’s dismissal of Fed Governor Lisa Cook, who faces mortgage fraud allegations, insisting the move was not an attempt to take control of the central bank. Bessent said the Fed’s structure prevents any administration from “stacking the board,” adding that markets remain stable with stocks at record highs, according to Reuters.

He argued Cook should resign if the accusations are proven and urged the Senate to quickly confirm Stephen Miran as interim head of the Council of Economic Advisers following Adriana Kugler’s resignation.

Russia has agreed to boost gas supplies to China, strengthening their energy partnership as Moscow pivots away from Europe, Reuters reported.

Gazprom will raise annual deliveries through the Power of Siberia pipeline from 38 to 44bn cubic meters. In a parallel move, Russia, China, and Mongolia signed a binding pact to build the Power of Siberia 2 pipeline, which could add another 50 bcm of gas each year.

According to Reuters, the deal highlights deepening Moscow-Beijing cooperation under Western sanctions and Europe’s reduced reliance on Russian gas.

President Donald Trump announced he will award former New York City Mayor Rudy Giuliani the Presidential Medal of Freedom, calling him a “great patriot” and “the greatest Mayor in New York City’s history”, Al Jazeera reported.

Giuliani, 81, is widely known for his leadership during the September 11 attacks and later as Trump’s personal lawyer, where he sought to overturn the 2020 election results with false claims of voter fraud. These actions led to his disbarment and a $148m defamation judgment in Georgia.

Recently, Giuliani was hospitalized in New Hampshire after a car accident, suffering a fractured vertebra and multiple injuries, though he is expected to be discharged soon.

Vietnam celebrated the 80th anniversary of its independence from French colonial rule with a large military parade in Hanoi’s Ba Dinh Square, the site where Ho Chi Minh declared independence in 1945. Tens of thousands of citizens waved flags and watched as soldiers, along with military personnel from China, Russia, and other countries, showcased advanced equipment including fighter jets, helicopters, drones, submarines, and frigates, Reuters reported.

Communist Party chief To Lam emphasized the country’s commitment to defending its sovereignty. President Luong Cuong announced a nationwide cash handout to citizens and an amnesty for nearly 14,000 prisoners. Foreign dignitaries attended, including lawmakers from China and Russia, while the US sent an embassy official and congratulatory messages, highlighting Vietnam’s growing role in the Indo-Pacific.

According to Reuters, the celebration underscored Vietnam’s national pride, resilience, and evolving international partnerships.

A Ukrainian drone attack on Rostov-on-Don, the capital of Russia’s Rostov region, led to the evacuation of over 300 residents. The assault damaged several apartment buildings, injuring three individuals, including a child, Reuters reported.

Authorities discovered an unexploded drone shell in one of the apartments, prompting the precautionary evacuation. Residents were relocated to a nearby school while bomb disposal experts addressed the threat.

The Russian defense ministry reported intercepting 13 drones over the region, though the total number launched was not specified.

Both Russia and Ukraine maintain that they do not intentionally target civilians in their military operations, according to Reuters.

The price of gold has increased by Rs 600 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 205, 900 per tola today.  It was traded at Rs 205, 300 per tola on Monday.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 2, 485 per tola today.

Russian President Vladimir Putin expressed gratitude to Chinese President Xi Jinping for the warm reception during his visit to China, Reuters reported.

In a meeting, Putin referred to Xi as his “dear friend” and praised the historically high level of strategic cooperation between Russia and China. He highlighted the depth of bilateral ties, describing them as exceptionally close.

Putin emphasized that their frequent and open communication reflects the strong relationship between the two nations, signaling continued collaboration on global and regional issues.

The visit underscores Russia and China’s growing alignment on political, economic, and security matters amid shifting international dynamics, according to Reuters.

Chinese President Xi Jinping will host a massive military parade on September 3 in Beijing, marking 80 years since Japan’s World War II surrender. The event, highlighting China’s growing military capabilities, aims to project the nation’s vision for a new global order, according to Reuters

Over 20 foreign leaders, including Russia’s Vladimir Putin and North Korea’s Kim Jong Un, are expected, underscoring China’s ties with authoritarian states. The parade will showcase advanced weaponry, including hypersonic missiles and drones, while promoting China’s own historical narrative of the war.

While critics, particularly from Taiwan, decry the $5bn cost as a display of military assertiveness, the event signals China’s ambition to challenge US influence and assert itself in global politics, Reuters reported.