Averting a wider Mideast conflict

A Gaza cease-fire could be crucial to averting a wider Mideast conflict. [View in browser]( [Bloomberg]( Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up [here](. International mediators are meeting Israeli negotiators today in the Qatari capital of Doha in [a fresh attempt]( to strike a cease-fire deal in Gaza. At stake is not simply winding down the war between Israel and Hamas, but potentially keeping at bay a wider regional conflagration. With the Middle East on edge, the talks bring together delegates from the US, Qatar and Egypt with negotiators from Israel. Discussions will be based on the same three-stage proposal presented in May by US President Joe Biden. [Hamas representatives]( are not expected to attend, though mediators will brief them afterward. Talks may last for a few days. As in May, the goal is [to reach a deal]( where parties agree to suspend hostilities, free more than 100 hostages held by Hamas in exchange for Palestinian prisoners, and transfer more humanitarian aid to the ravaged Gaza Strip. More than 10 months into a war that’s killed tens of thousands of people, many of them civilians, all are urging the belligerents to agree on cease-fire terms. At the same time, the US has moved in additional forces and approved the sale of as many as 50 F-15 fighter jets to Israel in preparation for what could yet become a full-fledged regional conflict. Reaching an agreement on Gaza now could be crucial, especially after Iran vowed to “harshly punish” Israel following the killings of a top Hezbollah leader in Beirut and Hamas chief Ismail Haniyeh in Tehran on July 31. Israel hasn’t taken responsibility for Haniyeh’s killing. Two weeks have passed and neither Iran nor its proxies [have moved to retaliate]( but Israeli forces are on hair-trigger alert. A command bunker has been activated beneath the Jerusalem hills. In the words of Prime Minister Benjamin Netanyahu, [Israel is ready]( for “any scenario.”— [Abeer Abu Omar]( WATCH: Officials believe an attack could come at any time. Bloomberg’s Onur Ant reports. Source: Bloomberg TV Global Must Reads The World Health Organization declared a fast-spreading mpox outbreak in Africa a [global health emergency]( as the agency seeks to contain the spread of the potentially deadly virus. A [mutated strain]( of the disease that causes unsightly, painful rashes and lesions has spread to at least six African countries, infecting about 15,000 people and killing more than 500 in the Democratic Republic of Congo this year alone. Electron micrograph of mpox virus particles. Source: NIAID Elon Musk’s absolutist version of free speech has thrown the world’s richest man and his X social-media platform [into the crosshairs of governments]( in the UK, India and Brazil. That clash between Musk’s commitment to letting users say whatever they want and what governments see as a wave of hate speech and disinformation has cost X advertising revenue and put him at the center of political battles around the world. Kamala Harris will use the first policy speech of her campaign for the US presidency to [call for a federal ban]( on food and grocery price gouging as part of a broader set of proposals intended to reduce consumer costs. The vice president plans to target the burden of high costs that have weighed on American households as she seeks to lay out an economic program that builds on the achievements of the Biden administration. South Korean President Yoon Suk Yeol offered aid, dialogue and a path to unification to North Korea, in a new approach to the neighbor that has berated him with insults and threatened to annihilate his government in Seoul. North Korea has shown [no signs of being ready to talk]( with leader Kim Jong Un starting the year by eliminating the concept of peaceful unification from national policy and abolishing laws for economic cooperation with the South. The daughter of former Thai leader Thaksin Shinawatra has [emerged as the favorite]( to become the Southeast Asian nation’s next prime minister. Paetongtarn Shinawatra received the backing of a majority of lawmakers in Thaksin’s Pheu Thai party at a meeting today. The 37-year-old is the youngest of Thaksin’s three children and the nominal leader of Pheu Thai, the biggest group in an 11-party coalition seeking to retain power after a court [disqualified fellow Pheu Thai member]( Srettha Thavisin as premier. Paetongtarn Shinawatra with her father in 2023. Photographer: Manan Vatsyayana/AFP/Getty Images Sri Lanka’s presidential election next month is [turning into a battleground]( between the political elite and a leftist outfit once notorious for armed rebellions, as candidates vie for a job that entails stewarding an economy badly in need of an overhaul. Vietnam’s To Lam is set to meet Chinese President Xi Jinping in Beijing in the coming week in what would be [his first overseas trip]( since taking over the country’s leadership barely a month ago. A Russian court sentenced Ksenia Karelina, a dual Russian-US citizen detained during a family visit, to 12 years for treason today [over a donation she made]( to a charity that helps Ukraine. More than 1,000 kilometers (621 miles) northeast of Jakarta, Indonesia’s capital, construction crews are carving a new administrative headquarters out of the Borneo rainforest. The project has been plagued by delays and its [fate is uncertain](. Washington Dispatch With Harris and Biden planning to make their first joint appearance today since she replaced him at the top of the Democratic presidential ticket, Donald Trump [has invited reporters]( to a press conference at his Bedminster resort in New Jersey. Although he leans more heavily into appearances with friendly and non-traditional outlets, the former president has increasingly been seeking opportunities to deflect attention away from Harris and back on himself. Trump and fellow Republicans have chastised his Democratic opponent for avoiding media interviews since she began her candidacy last month. Yet every occasion that he appears before cameras and microphones comes with the risk that the campaign’s message will be drowned out by at least one outrageous remark. During a press conference at Mar-a-Lago last week, for instance, he claimed that the crowd at his rally on Jan. 6, 2021, which preceded the siege of the Capitol by a mob of his supporters, was larger than the one Martin Luther King Jr. drew for his “I have a dream” speech in 1963. Two things to watch today: Data are expected to show retail sales rebounded in July and initial jobless claims increased last week. [Sign up for the Washington Edition newsletter]( for more from the US capital and watch Balance of Power at 1 and 5 p.m. ET weekdays on Bloomberg Television. Chart of the Day China’s economic momentum continued to weaken, as sluggish confidence weighs on consumption and investment. Fixed-asset spending unexpectedly slowed to 3.6% in the first seven months of the year, while consumption remained soft despite a seasonal uptick last month, [data showed](. The latest snapshot of the $17 trillion economy suggests domestic demand is barely benefiting from recent government efforts to boost household spending. And Finally Olympic triathletes in Paris this summer competed in the River Seine following a €1.4 billion ($1.5 billion) effort to make it swimmable for the first time in over a century. Yet poor water quality still forced organizers to postpone racing and several athletes reportedly fell sick when they were eventually able to compete. The incident highlighted [an emerging political issue]( in Europe: Many cities have centuries-old infrastructure that hasn’t been updated to handle the huge uptick in waste discharged from homes and factories. Competitors dive into the River Seine in the Men’s Individual Triathlon event at the Paris Olympics last month. 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