The Federal Reserve raises its benchmark interest rate by a quarter point to 3.75% to 4%, its first increase in more than three years. The Federal Open Market Committee votes unanimously for the move, and Chair Kevin Warsh says the step is aimed at restraining inflation as policymakers signal a renewed willingness to tighten financial conditions.

New Zealand’s Parliament approves legislation to implement a free trade agreement with India, clearing the way for the pact to take effect. The bill passes 93 to 29 with support from both the governing National Party and the main opposition Labour Party. The agreement lowers tariffs on most bilateral trade and includes investment and mobility provisions.

The Trump administration imposes travel bans on certain South African officials, accusing them of responsibility for discrimination against white people and other minority groups. The action adds a new diplomatic and economic strain to relations, using sanctions policy to target individuals rather than broad trade or financial measures.

Belarus is set to release 25 prisoners under an interim arrangement with the United States that is tied to U.S. sanctions relief for two companies. The step is presented as part of a broader process linking prisoner releases and easing economic pressure, combining human-rights diplomacy with targeted commercial concessions.

Hugo Boss names Michael Murray as chair of its Supervisory Board, placing the Frasers chief executive in a more influential role at the German fashion group. Murray, who is also Mike Ashley’s son-in-law, joins as the company continues through broader leadership and shareholder changes that could shape its strategic direction.

Aguia Resources reports record gold production and grade at its Santa Barbara project in Colombia, saying August output more than doubles its previous best month. The company attributes the result to high-grade ore, a sign of stronger operating performance at a time when miners are under pressure to demonstrate output growth and asset quality.

The IPL says it aims to bring its 2027 player auction back to India after holding recent editions overseas. Chairman Arun Dhumal says the board is pushing to host the event in the country, though the final city has not been settled and depends on the availability of the preferred venue.