U.S. Fed cuts interest rate for second time this year

The U.S. Federal Reserve on Wednesday decided to lower the target range for the federal funds interest rate by 25 basis points to 3.75 to 4 percent, marking its second rate cut this year.

Available indicators suggest that economic activity has been expanding at a moderate pace, job gains have slowed this year, and the unemployment rate has edged up but remained low through August, the Federal Open Market Committee (FOMC) said in a statement after a policy meeting.

The FOMC, the principal monetary policymaking body of the Federal Reserve System, said it seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.

S. Korean, U.S. presidents meet on ties

South Korean President Lee Jae-myung and visiting U.S. President Donald Trump held talks here on Wednesday on bilateral ties.

Lee said that South Korea will raise its defense budget and develop its defense industry to improve its defense strength so as to ease U.S. defense expenditures in their defense alliance, according to a statement from the South Korean presidential office.

Meanwhile, South Korea will enlarge its investment in the United States and expand its imports from the United States to deepen South Korea-U.S. alliance.

2 suspects in Louvre heist placed under formal investigation

Two men suspected of involvement in the recent jewel heist at the Louvre Museum have been placed under formal investigation and remanded in custody, French broadcaster BFMTV reported Wednesday evening.

The suspects, both in their 30s, were detained on Saturday evening and have "partially admitted" their involvement in the crime, Paris Prosecutor Laure Beccuau said earlier in the day, adding that the stolen jewels remain missing.

One suspect was arrested at Paris Charles de Gaulle Airport as he attempted to board an international flight, while the other was taken into custody shortly afterward in a suburb north of Paris.

Exit poll shows D66 narrowly leading Dutch parliamentary elections
The Democrats 66 (D66), led by Rob Jetten, has taken a narrow lead with 27 seats in the Dutch parliamentary elections, according to the first exit poll published by Dutch public broadcaster NOS on Wednesday.

The Party for Freedom (PVV), led by Geert Wilders, followed closely with 25 seats, while the People's Party for Freedom and Democracy (VVD) ranked third with 23 seats. The Green Left-Labor alliance is projected to win 20 seats, just ahead of the Christian Democratic Appeal (CDA) with 19.

However, NOS cautioned that the results remain preliminary, citing an Ipsos poll margin of error of up to two seats. The exit poll was conducted at 65 polling stations and included responses from approximately 80,000 voters.

The official outcome of the elections is expected to be announced by the Dutch Electoral Council in the coming days.

UNGA passes draft resolution urging U.S. to end embargo against Cuba

The UN General Assembly (UNGA) adopted a draft resolution on Wednesday urging the United States to end its economic, commercial and financial embargo against Cuba.

The draft resolution was passed by a vote of 165 in favor, seven against and 12 abstentions. Argentina, Hungary, Israel, North Macedonia, Paraguay, Ukraine and the United States voted against it.

The draft reiterated the UNGA's call upon all UN states to refrain from promulgating and applying laws and measures of the kind referred to in the preamble to the text, in conformity with their obligations under the UN Charter and international law, which, inter alia, reaffirm the freedom of trade and navigation.

133 people drown during Hindu festival in India

At least 133 people drowned and many others went missing in the Indian eastern states of Bihar and Jharkhand during the Hindu festival of Chhath Puja, local media reports said Wednesday.

In Bihar, 108 people lost their lives due to drowning and 10 others are reported missing. In the neighboring Jharkhand, the number of such deaths is 25.

The drownings have taken place in rivers and other water bodies across various districts of these states during the observance of the festival.

The local government has deployed disaster response force personnel to trace the missing.