ECB President LAGARDE said rising labor productivity helps contain growth in unit labor costs.

Iranian outlet Fars News reported two explosions were heard near Bushehr.

Four sources — two Iranian, Yemen’s information minister and a regional security analyst — say Iran on July 13 flew an IRGC commander, military advisers and missile- and drone-related equipment to Yemen on a Mahan Air flight. The aircraft, carrying 10–21 IRGC personnel including a senior commander, diverted to Red Sea port Hodeidah after a planned landing in Houthi-held Sanaa was disrupted by an attack on the airport by Saudi-backed Yemeni government forces. One source said the commander was sent to support Houthi operations and provide training on new missile systems; the same source said Iran also transported gold on the flight to fund Houthi activity. The transfer indicates Tehran is seeking to bolster its Houthi ally’s ability to threaten Red Sea shipping.