GUNVOR said an explosion in Rotterdam killed one person.

Mortgage applications at Commonwealth Bank, Westpac and ANZ have fallen at least 12% since the government’s May budget paved the way to remove investor tax breaks, reflecting a cooling Australian housing market. The weakness has pushed bank shares lower and highlighted pressure on profitability. Earlier rises in borrowing costs had already damped demand and prices in Sydney and Melbourne are retreating. Commonwealth Bank CEO Matt Comyn said the bank has not yet seen the weakness spill over into household spending or broader activity. With the Middle East conflict lifting inflation and some firms remaining cautious, housing credit growth is expected to slow further next year.

Ambrey said specialists have boarded the Suezmax tanker Caroline, aground off the Al Hallaniyat Islands on Oman’s southern coast; rescue vessels, aircraft and equipment are en route. Omani state news reported an oil slick of about 390 sq km and said mainland beaches have been contaminated; the government environment agency is monitoring the leak. Monsoon-season seas and weather are expected to hamper salvage and response operations. Waters around the Al Hallaniyat Islands contain coral reefs, fish, nesting sea turtles and sightings of dolphins and whales.