One Belt and Road Initiative growing stronger
Pakistan’s top court directs central bank to issue funds for snap pollsThe parliament had on Thursday (13) ruled it wasn’t possible to spare Rs 21 billion ($74.79 million) in funds for the snap polls, which the court had ordered.
Chief Justice Umar Ata Bandial had summoned officials from the finance ministry, the central bank and the Election Commision of Pakistan (ECP) to his chamber on Friday to seek a reply on the funds, warning that non-compliance would have consequences.
The parliament had on Thursday (13) ruled it wasn’t possible to spare Rs 21 billion ($74.79 million) in funds for the snap polls, which the court had ordered.
The court order said the chief justice directed the central bank’s acting governor and the finance ministry to coordinate and “forthwith allocate and release” the money from federal consolidated funds no later than April 17.
China spent £194.97 billion rescuing ‘Belt and Road Initiative’ nations, says study
Argentina was the largest beneficiary, receiving £90.80bn, equivalent to $111.8bn, followed by Pakistan with £39.39 ($48.5bn) and Egypt with £12.67 ($15.6bn)
Countries have received bailouts to extend loans and remain solvent. China claims over 150 countries have joined the trillion-dollar BRI infrastructure initiative launched by President Xi Jinping ten years ago.
According to Beijing, the objective of the initiative is to strengthen friendly trade ties with other countries, especially those in the developing world.
Japan, India, France to announce launch of Sri Lanka’s debt restructuring negotiation process
Sri Lanka confident of Chinese support in debt restructuring: central bank chief
The central bank chief of the crisis-hit South Asian country said Sri Lanka is optimistic of China’s continued support, pointing to how Beijing “did the right thing in giving Sri Lanka financing assurances last time”.
“I think this is probably the first time China has given it that fast,” he said.
With the help of the International Monetary Fund and other partners who also helped share information, said Weerasinghe, the debt restructuring process can continue.
“Obviously China is a country that has been helping Sri Lanka for a long time and [it has[ invested a lot [in Sri Lanka]. [It will be in the] best interest of both China and Sri Lanka to complete this process soon and we can get back to repaying our debt service obligations,” he said.
“Sooner the better for both countries,” he added.
In February, China’s Exim Bank gave Sri Lanka a two-year moratorium on its defaulted loans and said it would discuss additional re-structuring within that ‘window’.
In early March, Sri Lanka secured a 2.9 billion dollar extended fund facility from the IMF after obtaining assurances of support from China.
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Polls have opened in Russia's Far East for the first of three days of voting.
Polling stations opened in the Kamchatka peninsula at 8:00 am local time on Friday (2000 GMT on Thursday) and are set to close at 8:00 pm (1800 GMT) on Sunday in Kaliningrad -- a Russian exclave bordering Poland and Lithuania.
Early voting was already underway in occupied territories of Ukraine. The vote will also take place in Crimea.
The four candidates are Leonid Slutsky of the Liberal Democratic Party, Nikolai Kharitonov of the Russian Communist Party, Vladislav Davankov of the New People Party, and Vladimir Putin, the incumbent president and an independent candidate.
enjoy
On Thursday, the European Parliament adopted a resolution calling on Moscow to send back 91.5 metric tons of gold and cultural artifacts that were exported to the Russian Empire in 1916-1917 by Romania.
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Last week, Masoud Dorosti, the managing director of Tehran’s bustling metro system, dropped a bombshell: After seven years of intense negotiations, the Iranian capital is gearing up to welcome a whopping 791 sleek metro trains from China. It’s a move set to transform the city’s transit scene, injecting new life into a system that hasn’t seen a serious upgrade in half a decade.
But that’s not all. Tehran’s mayor, Alireza Zakani, threw in another ace from his sleeve last month, unveiling a flurry of contracts inked with Chinese giants aimed at giving the city’s infrastructure a serious facelift. From major transportation projects to ambitious construction ventures, China’s fingerprints may soon be all over Tehran’s urban landscape. Heck, they’re even rolling up their sleeves to erect housing units in this sprawling metropolis of nearly 9 million souls.
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‘Neo-Nazi Kiev regime’ tried to disrupt Russian elections – Putin
Russia’s president has vowed retaliation for the ongoing Ukrainian attacks on border regions
The continuing Ukrainian incursions into and strikes on Russia's border regions are primarily aimed at disrupting the ongoing election in the country, President Vladimir Putin has said.
The president made the remarks on Friday during a meeting with permanent members of the Russian National Security Council. Putin condemned the efforts made by Kiev to disrupt the ongoing election, vowing retaliation for the attacks.
In order to disrupt the voting process and intimidate people, at least in the regions bordering Ukraine, the Kiev neo-Nazi regime has conceived and is trying to carry out a series of “demonstrative criminal armed actions,” Putin stated.
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Your guide to Russia’s 2024 Presidential Election
Everything you need to know as Russians head to the polls to elect their leader
Voting in Russia’s 2024 presidential election opened on Friday and will continue until Sunday. In many ways it will be a unique event in the country’s history.
The two countries have been working to increase their trade engagement with Egypt in recent years. Indonesia recorded a $1.11 billion trade surplus with the North African nation last year, while Egypt is Malaysia’s third-largest trading partner in Africa in 2022, with a $1.08 billion trade value.
Officials from the Indonesian Embassy in Cairo and the Malaysia External Trade Development Cooperation, or MATRADE, held a meeting on Sunday in Cairo to discuss ways to boost cooperation between the Southeast Asian bloc and Egypt, the Indonesian Ministry of Trade said in a statement.
Prabowo's rivals, Anies and Ganjar, have vowed to submit a complaint to the Constitutional Court about allegations of election irregularities and fraud.
Anies confirmed after results were announced that he would file a complaint to the court.
"A leader that was born out of a process tainted by cheating and violations will result in a regime that will produce policies that are full of unfairness, and we don't want this to happen," he said in a statement.
But Prabowo's legal team is confident the result will not be successfully challenged because of his wide margin of victory, local media reported Tuesday.
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Sending foreign troops to Ukraine may have irreparable consequences — Kremlin
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Russian President Vladimir Putin has already said how Moscow would react to French troops coming to Ukraine, Kremlin Spokesman Dmitry Peskov told reporters.
"If you remember election night, the president already answered your question. Just read what the president said again and you will find your answer," the spokesman said, responding to a question on whether the appearance of French troops in the special operation area would mean a de facto start to war between Moscow and Paris.
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Indian Prime Minister Narendra Modi held a telephone conversation with Russian President Vladimir Putin and congratulated him with the confident victory at the Russian presidential election, the Kremlin’s press office said in a statement on Wednesday.
"In the course of the detailed telephone conversation, Prime Minister of India Narendra Modi congratulated Vladimir Putin on his confident victory in the Russian presidential election and extended his sincere wishes for the well-being and prosperity of the Russian people," the statement said.
Voting in Russia’s presidential election took place on March 15-17, making it the country’s first three-day election. Remote e-voting was available in 29, or about one-third, of Russia’s regions.
According to the Central Election Commission (CEC), with 100% of all ballots counted, Putin garnered 87.28% of the vote. Communist Party of the Russian Federation (CPRF) nominee Nikolay Kharitonov came in second (4.31%), followed by New People party nominee Vladislav Davankov (3.85%) and Liberal Democratic Party of Russia (LDPR) nominee Leonid Slutsky (3.2%).
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Premier of the Australian state of New South Wales Chris Minns in Sydney.
Wang noted that New South Wales has always been at the forefront of China-Australia exchanges, playing an exemplary role in cooperation between the two countries.
According to the Chinese foreign minister, the most significant impression he had during his visit to Australia was that no matter from the ruling or opposition party, the business community or the circle of strategists, governments or the general public, people all voiced their support for strengthening dialogue and cooperation between China and Australia in various fields.
Wang conveyed China's commitment to strengthening collaboration with Australia in traditional sectors such as energy, minerals, and agricultural and dairy products.
Crocus City, a music venue just northwest of the Russian capital, came under attack by unknown assailants late on Friday.
Several individuals armed with assault rifles attacked visitors, shooting them on sight at point-blank range. The attackers also targeted a concert hall at the mall, setting it on fire and triggering a major blaze in the whole building.
A total of 115 people, including five children, have been hospitalized since the attack, at least 60 people were killed and over 100 injured.
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Yemen’s Houthi militants have struck Israel with a cruise missile, marking the first time that one of the group’s projectiles has reached the Jewish state. The strike follows repeated efforts by the US and UK to destroy Houthi launch sites.
The Shia militia, which functions as the de facto armed forces of Yemen, has also vowed to disrupt commercial shipping in the Red Sea until Israel ceases its war with Hamas.
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Russia and China reach shipping deal with Houthis
The Yemen-based Houthi militants have told Russia and China that their ships can sail freely through the Red Sea and Gulf of Aden without fear of being attacked
Attacks on vessels in the Red Sea region decreased traffic via the Suez Canal, a vital route between Asia and Europe that ordinarily handles about 15% of global maritime trade.
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Failed Indonesian presidential candidate Anies Baswedan challenged Prabowo Subianto's decisive victory at the Constitutional Court on Thursday, alleging rules were unfairly changed to allow the outgoing leader's son to run as his vice president.
Anies' call for a new vote comes a day after Defence Minister Prabowo, 72, was confirmed as the next leader of the world's third-biggest democracy, beating former Jakarta governor Anies and a third rival with 58.6 percent of the vote.
Australia while Malcolm Turnbull was PM.
Australian Air-force bombed Syrian forces, they killed 60 out right and seriously wounded 110 others, so i dunno who to believe, previously it became clear US arms (John McClain images prove) were been channeled to ISI in Syria, and Syrian Oil was (is) been stolen by Saudi, Israel and America, so I've masked Arab comments in QR, which you can scan if you want
Russia cast doubt on US claims that Islamic State was responsible for the concert attack which killed hundreds, as gruesome video of tortured suspects appeared
Russia on Monday challenged assertions by the United States that the Islamic State militant group orchestrated a gun attack on a concert hall outside Moscow that killed 137 people and injured 182 more, accusing Washington of covering for Ukraine.
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USA:
World:
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Italian Air Force’s Eurofighter jets deployed at Poland’s Malbork air base have been scrambled twice in the past 24 hours after spotting Russian aircraft over international waters in the Baltic Sea
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BRICS group is playing a key role in shaping a multipolar world order, and Tehran's relations with Moscow influenced the entry of the Islamic Republic into BRICS, Professor Mehdi Seif Tabrizi, an Iranian expert on Russia and the Caucasus, said in an interview with TASS.
"BRICS plays a key role in shaping a multipolar world and contributes to the establishment of a more just world order," the expert noted. According to him, all members of the intergovernmental group, both its founding countries and its newly joined member states, "support the construction of a multipolar world order and demand fair and equal participation of all countries in decision-making processes."
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The cardinal revision of the DPRK's policy in inter-Korean relations stems from the changes in the world order that the special military operation in Ukraine has brought about, researcher Chung Jae-hung of the South Korean Sejong University, has told TASS.
"The fact that in the wake of the North Korea-Russia summit in 2023 North Korea proclaimed inter-Korean ties as relations between two hostile states rather than parts of one nation is directly related to the rapidly changing world order," Ghung said.
The way he sees it, Pyongyang seeks to change the situation on the Korean Peninsula with the help of "a new multipolar world order led by China and Russia," while the Yoon Suk-yeol government in Seoul, advocating liberal democratic values, supports "the existing US-led unipolar world." The Republic of Korea leans on the Group of Seven and provides assistance to Kiev. The DPRK, for its part, supports Russia and is ready to strengthen relations with the global South, as well as, as the expert points out, with the BRICS and the SCO.
Chung, the Director of the Center for Chinese Studies noted the similarity of conflicts around Ukraine and the Korean Peninsula.
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BRICS’ further expansion will be beneficial for African countries, United Nations Secretary General’s Special Representative for West Africa and the Sahel Leonardo Santos Simao said in an interview with TASS.
"What is my hope is that BRICS can be an additional source of the financing development for Africa, in particular for West Africa and the Sahel. And if this is the case, I think the developments taking place are welcome indeed," he said when asked if BRICS enlargement could have a positive influence on the situation in the region.
"I think a lot of work is still in progress to establish the rules and procedures and refine maybe the objectives on that," he added.
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The nature of the relationship between China and the United States not only affects the well-being of the people of both countries but also the future of humanity, Chinese President Xi Jinping said during a meeting with American businessmen held at the Great Hall of the People in Beijing.
"The well-being of the people of both countries, as well as the future and destiny of humanity, depend on whether China and the United States cooperate or confront each other, The Chinese president emphasized that "as long as both sides consider each other as partners, respect each other's interests, peacefully coexist, and cooperate for mutually beneficial results, bilateral relations will improve."
During the illegal bombing campaign, NATO forces used some 31,000 rounds containing depleted uranium, a highly toxic and slightly radioactive material. The attacks with the use of such munitions affected some 91 sites across the country, Dubenskij noted.
According to NATO’s own estimates, 10 metric tons of material were used during the campaign. Depleted uranium has been primarily used in 30-mm armor-piercing incendiary ordnance, utilized by A-10 Thunderbolt II ground attack planes, as well as 25mm rounds of Bradly infantry fighting vehicles and shells for M1 Abrams tanks. Depleted uranium cores in such munitions evaporate on impact, likely leaving the environment polluted for years.
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The International Monetary Fund announced on Friday the immediate disbursement of US$820 million to the Egyptian government, part of an augmented plan to aid the nation's stumbling economy.
The IMF's Executive Board validated the payment as part of a US$3 billion aid programme granted at the end of 2022.
The IMF action, repeatedly postponed and eagerly awaited by the Egyptian government, arrives at a time of mounting difficulties for its economy.
The Board also approved a US$5 billion extension announced at the beginning of the month, bringing the Fund's total lending to Egypt to US$8 billion.
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March 29, 2024
Chinese investigators arrived in Pakistan today to join a probe into the killing of five Chinese nationals in a suicide attack, Pakistan's Interior Ministry said, seeking to stem assaults threatening Islamabad's drive to modernise the economy.
Tuesday's incident was the third major attack in little over a week on China's interests in the South Asian nation, where Beijing has invested more than US$65 billion in infrastructure projects as part of its wider Belt and Road initiative.
The incident happened on Tuesday when the convoy was on its way from Islamabad to Dasu, the site of a key hydroelectric dam being constructed by a Chinese company, about 270km (167 miles) from the capital.
On Monday night, separatist fighters attacked a naval airbase in Turbat area in the southwestern province of Balochistan, killing at least one paramilitary soldier. Officials said all five of the assailants were also killed in retaliatory fire.
The Baloch Liberation Army (BLA), which has been behind several attacks on Pakistani and Chinese interests in the region and elsewhere, claimed responsibility for the Turbat attack.
Last week, another BLA attack at Gwadar, a port city in Balochistan, killed two soldiers and eight of the group’s fighters. Gwadar is the centrepiece of the $62bn dollar China-Pakistan Economic Corridor (CPEC) project, Pakistan’s most ambitious infrastructure and investment project in recent years.
"We received the visit of the Danish Minister of Defence, Troels Lund Poulsen, with whom we signed a letter of intent for the purchase of F-16 aircraft and support equipment. We are laying the foundation for cooperation in defence between Denmark, the US and Argentina," said Petri in a post on Twitter.
The purchase, which also includes engines, spare parts, simulators and training equipment, is the first major defence purchase made by President Javier Milei’s government since the Argentine head of state took office last December.
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UK defense capabilities of the Falklands, following the Danish F16s deal for Argentina
With the blessing of United States concerned about the advance of China in the Americas, has placed renewed attention on the UK’s ability to defend the Falkland Islands in the South Atlantic, and whether the balance of power is shifting.
After the 1982 Falklands War between UK and Argentina, (triggered by the military invasion and occupation of the Islands by the Argentine Junta), UK moved to reinforce its ability to defend the Falkland Islands through the creation of a tri-service defense capability. Central to this is RAF Mount Pleasant, an airbase constructed some forty miles south of the capital city of Stanley on East Falkland.
British Army and Royal Navy assets are also assigned to the territory, with units rotating in and out as required. There are around 1,500 UK military personnel stationed on the Falkland Islands at any one time.
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Indonesia's President-elect Prabowo Subianto is set to embark on a visit to China from March 31 to April 2, following an invitation from President Xi Jinping. During his visit, President Subianto will engage in talks with President Xi Jinping and meet with Premier Li Qiang. Discussions will revolve around bilateral relations and matters of mutual interest.
This became known during the meeting between the Nigerien Interior Minister, General Mohamed Toumba, and the American ambassador in Niamey, Kathleen FitzGibbon.
Last Saturday, Niger junta spokesman Amadou Abdramane announced the end of the military cooperation agreement with the White House "taking into account the aspirations and interests of the people", while criticizing that Washington denies Niamey "the right to choose the partners" who will accompany him in the transition process.
Tajikistan has been a close ally of Moscow even after she joined other CARs in declaring their independence after the implosion of the Soviet Union in 1991.
Generally known as the underbelly of the Russian State, Tajikistan had its security compulsions to remain glued to the Russian Federation. President Emomali Rahmon, the Secretary of the Tajikistan Communist Party during Soviet power, became the first president of the independent Central Asian Republic of Tajikistan in 1991. He continues to hold that position. He has proved to be one of Moscow’s most trusted allies.
Tajikistan is a 90% mountainous region with very little arable land. It was the poorest State of the erstwhile Soviet Union, mostly underdeveloped and economically fragile. After declaring independence, Tajikistan remained a recipient of Russian largesse and signed a defense agreement with Moscow.
In 1996, when the Afghan Taliban seized control of Kabul and executed the Russian protégé, Dr Nagibullah, Tajikistan had fears that the advancing Taliban could cross the Tajik-Afghan border and impose a fundamentalist regime in Dushanbe.
President Rahmon had no option but to obtain a firm commitment from Russia that it would become a partner in protecting its southern border.
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Navy Adm. John C. Aquilino, the head of U.S. Indo-Pacific Command, disclosed this information in a recent testimony on Capitol Hill. His remarks shed light on China’s ambitious military modernization efforts and their potential to reshape global power dynamics.
Aquilino, before the Senate Armed Services Committee on March 21, asserted, “the world’s largest Navy, soon to be the world’s largest Air Force,” regarding the People’s Liberation Army.
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Thailand ‘Sacrifices’ Submarine For Chinese Patrol Boats; Argentina Dumps Chinese Jets For F-16s
Adrian McRae of Port Hedland in Western Australia flew to Moscow last month as part of an international delegation to scrutinize Russia’s presidential election. A little-known councilor from a town of just 15,000 people, McRae drew attention back home when he appeared on Russian TV passing on his congratulations to Putin, who won the election with 87% of the vote.
“In my lifetime, the world has never seen such a transparent and comprehensive victory as what we saw here over the last three days,” McRae declared.
McRae’s comments infuriated Australian Federation of Ukrainian Organisations (AFUO) co-chair Stefan Romanov.
In addition to leading the AFUO, Romanov was the head of the Organization of Ukrainian Nationalists’ Stepan Bandera faction (OUN-B) from 2009 to 2022. Under Bandera and after his arrest, the OUN-B collaborated with Nazi Germany, taking part in the mass murder of Poles during World War II amid Adolf Hitler’s invasion of the Soviet Union. As OUN-B leader, Romanov has spoken at rallies organized by the neo-Nazi ‘Svoboda’ party in Ukraine.
But that may not be enough for the U.S. to avoid retaliation targeting its forces in the region. A top U.S. commander warned on Wednesday of danger to American troops.
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Indonesia aims to achieve its "Golden Indonesia 2045 Vision," which involves becoming an advanced and sustainable nation by 2045. Experts have praised China's role in helping Indonesia accomplish its vision, with cooperation between the two countries flourishing.
For the past decade, Indonesia and China have conducted productive cooperation in a wide range of fields. China has been Indonesia's top trading partner for 10 years and a major source of investment in the country.
The China-Indonesia bilateral relationship has never been stronger. China is not only Indonesia's largest trading partner but also one of the biggest contributors of foreign direct investment, said Destry Damayanti, senior deputy governor of Bank Indonesia.
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rack installation for the first phase of East Coast Rail Link (ECRL), a mega rail project in Malaysia being built by the China Communications Construction Company (CCCC), has been accomplished ahead of schedule, the project owner has said.
He added that the ECRL track installation work has now entered its second phase since March 9, covering a mainline stretch of about 90 km from KPC to Maran in Pahang state.
A major infrastructure project under the Belt and Road Initiative (BRI), the ECRL runs from Malaysia's largest transport hub Port Klang and travels across the peninsula to Kelantan state in northeastern Malaysia.
Adrian McRae of Port Hedland in Western Australia flew to Moscow last month as part of an international delegation to scrutinize Russia’s presidential election. A little-known councilor from a town of just 15,000 people, McRae drew attention back home when he appeared on Russian TV passing on his congratulations to Putin, who won the election with 87% of the vote.
“In my lifetime, the world has never seen such a transparent and comprehensive victory as what we saw here over the last three days,” McRae declared.
McRae’s comments infuriated Australian Federation of Ukrainian Organisations (AFUO) co-chair Stefan Romanov.
In addition to leading the AFUO, Romanov was the head of the Organization of Ukrainian Nationalists’ Stepan Bandera faction (OUN-B) from 2009 to 2022. Under Bandera and after his arrest, the OUN-B collaborated with Nazi Germany, taking part in the mass murder of Poles during World War II amid Adolf Hitler’s invasion of the Soviet Union. As OUN-B leader, Romanov has spoken at rallies organized by the neo-Nazi ‘Svoboda’ party in Ukraine.
China’s energy related engagement in 2023 were the greenest in absolute and relative terms in any period since the BRI’s inception reaching USD7.9 billion;
China is increasingly investing in electricity transmission (over USD7 billion);
BRI finance and investments has picked up in 2023 with about 212 deals worth USD92.4 billion compared to about USD74.5 billion in 2022;
Investments as a share of BRI engagement reached record levels at over 52%, indicating higher ownership and risk taking of Chinese enterprises;
In 2023, particularly the technology (+1046%) and metals and mining (+158%) grew.
Chinese companies strongly invest in metals and mining, which are particularly relevant to the green transition (e.g., lithium) and batteries for electric vehicles.
Engagement related to batteries reached about USD8 billion;
Africa became the largest recipient of Chinese engagement, overtaking Middle Eastern countries;
19 countries saw a 100% drop in BRI engagement, including Turkey, and Kenya; Russia saw one deal in 2023, after no engagements in 2022;
BRI investments in 2023 continue to be dominated by private sector enterprises, including Huayao Cobalt and CATL, while construction contracts were dominated by state-owned enterprises (SOEs);
In global comparison, Chinese overseas engagement grew, while global FDI into emerging economies in 2023 dropped significantly;
For 2024, we see further growth of Chinese BRI engagement with a strong focus on BRI country partnerships in renewable energy, mining and related technologies;
Potential future engagements can be expected in six project types: manufacturing in new technologies (e.g., batteries), renewable energy, trade-enabling infrastructure (including pipelines, roads), ICT (e.g., data centers), resource-backed deals (e.g., mining, oil, gas), high visibility or strategic projects (e.g., railway).
The inauguration ceremony, led by President Joko “Jokowi” Widodo at the State Palace in Jakarta, was attended by key cabinet members, including Defense Minister Prabowo Subianto, the winner of the Feb. 14 presidential election.
Tonny, 52, is a former combat pilot with experience flying American fighter jet the F-16, as well as Russian jets like the Su-27 and Su-30.
According to the Antara news agency, Tonny was one of the four pilots who scrambled to intercept two American fighter jets that had trespassed into Indonesian airspace during an incident in July 2003. This incident led to an apology from the US Embassy in Jakarta to the Indonesian government.
"Ms. Bishop succeeds Noeleen Heyzer of Singapore to whom the Secretary-General is grateful for her dedicated service. Ms. Bishop brings extensive political, legal, management and senior leadership experience to the role," a UN statement said.
According to her, the heads of BRICS parliamentary committees will arrive in Moscow to take part in such a meeting for the first time. They will also meet with the chairs of both chambers of the Russian Federal Assembly (parliament), the Foreign Ministry spokeswoman added.
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Russia’s top diplomat is on a trip to China ahead of a potential visit by President Vladimir Putin; Israel and Hamas continue efforts to achieve a ceasefire amid contradictory reports from the Cairo talks; and a wildcard emerges that may take votes away from both Joe Biden and Donald Trump in the upcoming US election. These stories topped Tuesday’s newspaper headlines across Russia.
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Türkiye becomes 10th nation to join Chinese-Russian led International Lunar Research Station program
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SL looking to enter BRICS to expand economy
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5 Countries In Asia That Want to Join BRICS in 2024
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The price of gold reached an all-time high on Friday, soaring above $2,400 per ounce as a global safe-haven rush continues.
Spot gold prices rose 2.4% to a record high of $2,431.52 per ounce before pairing some gains.
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Beijing slams US and allies for ‘attacking China’
The US, Japan, and the Philippines released a statement rejecting China’s maritime claims
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French Navy preparing for war – admiral
The Marine Nationale is training to face an adversary “who wants to destroy us,” a senior officer has said
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‘Time to prepare for war’ North Korean leader
Pyongyang must be ready to fight and win against all enemies, Kim Jong-un has said
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Russia advises citizens against travel to Middle East as Iranian threat stokes tensions
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Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) were invited to become members with effect from 1 January 2024.1 Feb 2024
Iran exported $29 billion of products to these countries and imported $32 billion worth of products from them, Mohammad Rezvanifar added, IRNA reported.
Among the OIC member states, the United Arab Emirates (UAE), Turkey, Iraq, Pakistan, Oman, Afghanistan, Malaysia and Indonesia were Iran’s major trade partners, the IRICA chief added.
Three sons and four grandchildren of Hamas leader Ismail Haniyeh killed on Wednesday in Israeli air attack on Gaza refugee camp, relatives and official Hamas media said.
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Russia: Switzerland's Ukraine conference 'road to nowhere'
Holding a conference on Ukraine in Switzerland is a "road to nowhere," as Moscow does not see that the West is sincerely ready to engage in fair negotiations, Russian Foreign Minister Sergey Lavrov said.
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Six killed, several injured after knife attack in Sydney shopping centre
Suspect is shot dead as police say he acted alone and there was ‘no continuing threat’.
The gold price has risen to a series of new all-time highs of late, a development that has received only cursory attention in the mainstream financial media. But as is the case with so much else these days, there is much more going on than meets the eye. In fact, the rise in the dollar price of gold is almost the least interesting aspect to this story.
For thousands of years, gold was the ultimate store of value and was synonymous with the concept of ‘money’. Trade was often settled either in gold itself or in bank notes backed by gold and directly exchangeable for it. Currencies backed by nothing but government decree – called 'fiat' currencies – have tended to eventually fail.
However, in 1971, gold found itself cast out of this ancient role when the US unilaterally suspended dollar convertibility into gold as enshrined in the Bretton Woods agreement that established the framework for the post-war economy. Shortly thereafter, in an act that medieval alchemists only dreamed of, gold was created out of thin air in the form of futures contracts, meaning bullion could be bought and sold without any metal changing hands – or even existing.
The collapse of Bretton Woods in the late ‘60s and early ‘70s – culminating in the gold window being shut in 1971 – was a messy period of transition, uncertainty, and instability. The dollar devalued and a fixed-rate system was negotiated and soon thereafter abandoned. But what was clear was that the US was steering the world away from gold and toward a dollar standard.
According to the World Gold Council, which attempts to track these covert purchases, central banks bought an all-time record 1,082 tonnes in 2022 and nearly matched that figure the following year. By far the largest buyer has been the People’s Bank of China, which as of this past February had added to its reserves for 16 straight months.
Nieuwenhuijs estimates that the People’s Bank of China bought a record 735 tonnes of gold in 2023, about two-thirds of which were purchased covertly. Meanwhile, according to his figures, Chinese private sector net imports totaled 1,411 tonnes in 2023 and a whopping 228 tonnes just in January of 2024.
Another aspect to this is that as BRICS countries increasingly trade in local currencies, a neutral reserve asset is needed to settle trade imbalances. In lieu of a BRICS currency, which may or not be forthcoming in the near future, Luke Gromen believes this role is already starting to be performed by physical gold. If this is the case, it marks the return of gold to a place of prominence in the financial system, both as a store of value and a means of settlement. This, too, represents a hugely important step.
In an annual shareholder letter on Monday the CEO of the largest US bank cited large amounts of government spending and efforts by the Federal Reserve to shrink its balance sheet, as well as the Ukraine conflict and the Israel-Hamas war, as creating an environment that “may very well be creating risks that could eclipse anything since World War II.”
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The share of the Chinese yuan on Russia’s foreign exchange market hit an all-time high in March, the Bank of Russia (CBR) reported in its financial risk review on Monday.
Russia’s shift away from major Western currencies started with the US and EU sanctions imposed on the country over the Ukraine conflict. The financial restrictions made cross-border trade in euros and dollars more difficult and their presence on the domestic foreign exchange market less important.
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Vietnam is actively working on a bid to join the BRICS economic group, the Izvestia newspaper has reported, citing Hanoi’s embassy in Russia.
BRICS members Brazil, Russia, India, China, and South Africa were joined by four more countries at the start of this year, when Ethiopia, Iran, Egypt, and the United Arab Emirates formed part of a major expansion. Saudi Arabia has also been approved as a member but is reportedly considering final ratification of its accession.
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Gold price hits historic high
The rally has been attributed to rising tensions in the Middle East that have spurred safe-haven demand
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China’s ‘incredible’ growth threatens American and EU economies – US trade chief
Beijing’s “non-market” policies should be rebuffed through appropriate “countermeasures,” Katherine Tai has said
She pointed to China’s high production of steel, aluminum, solar panels, and electric vehicles as specific causes of concern.
US officials have repeatedly labeled China as America’s top “competitor,” while tightening economic restrictions against the country. US tariffs on Chinese goods were hiked significantly under President Donald Trump, who launched the first volley in a tit-for-tat trade war that began in 2018. A similarly hostile approach has continued under his successor, Joe Biden, who has adopted several policies aimed at the Chinese economy.
The Jakarta-Surabaya high-speed train project appears to become a recurring topic of discussion during Chinese top diplomat Wang Yi’s visit to Indonesia.
Wang Yi has headed to the tourist hotspot of Labuan Bajo for the high-level dialogue on bilateral ties between Indonesia and China on Friday. In a social media post, senior minister Luhut Binsar Pandjaitan said he had candid talks with Wang Yi over durian on Thursday evening with the discussions revolving around topics such as extending the existing Jakarta-Bandung high-speed train to reach the East Javan capital of Surabaya. Luhut even called the talks a “sunset diplomacy meeting” as the government officials enjoyed the beach view.
“We served durian, which is my good friend’s favorite fruit, and we also talked about serious matters, including the continuation of the Jakarta-Surabaya high-speed train,” Luhut wrote on his personal Instagram account on Friday.
Iraqi officials said a member of the army was among those injured in the base which also serves as a headquarters for the country’s military.
Footage from the scene has shown a huge explosion a large crater and damage to infrastructure and vehicles.
The cause of the blast is still unknown.
If reports about Israel’s involvement in the incident came to be true, the U.S. would be responsible. This is because the U.S. has control over the Iraqi airspace.
Undoubtedly, Israel could not have carried out any attack inside Iraq without U.S. foreknowledge.
Any attack inside Iraq either by the U.S. or Israel amounts to violating the country’s sovereignty and territorial integrity.
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The United States told the Group of Seven foreign ministers on Friday that it received “last minute” information from Israel about a drone action in Iran, Italy’s foreign minister said.
Italian Foreign Minister Antonio Tajani, who chaired the meeting of ministers of industrialized countries, said the United States provided the information at a Friday morning session that was changed at the last minute to address the suspected attack.
Tajani said the U.S. informed the G7 ministers that it had been “informed at the last minute” by Israel about the drones. “But there was no sharing of the attack by the U.S. It was a mere information.”
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Satellite imagery released over the past 24 hours has revealed evidence of probable damage at an Iranian air base following an Israeli strike in the early hours of Friday morning.
BBC Verify has analysed two images showing part of an air-defence system at an airfield in Isfahan was damaged.
US officials say Israel carried out a missile strike although there has been no official Israeli confirmation.
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The US has a new insidious plan for Venezuelan oil
“Today’s cooperation should be built on a new foundation. We believe that the BRICS is an opportunity to create great openness,” she told RT.
BRICS – which previously comprised Brazil, Russia, India, China, and South Africa – has seen a major wave of expansion. Four more countries – Ethiopia, Iran, Egypt, and the United Arab Emirates – joined the group at the start of this year, and further additions are expected in the future.
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BRICS should create alternative international monetary system – envoy
The bloc’s members should work together to strengthen their economies, Ethiopian Ambassador Cham Ugala Uriat has told RT
It is vital for BRICS to create an alternative international monetary system, the Ethiopian ambassador to Russia, Cham Ugala Uriat, has told RT in an exclusive interview.
Uriat stated the bloc’s members should collaborate to enhance their economies and create a new alternative to the International Monetary Fund (IMF).
The Shanghai-based New Development Bank (NDB), established by the BRICS states and opened for business in 2015, should be strengthened so that it can “contribute to member states of BRICS,” the ambassador argued.
The Ownership, Unity and Responsibility Party (or Our Party) led by Sogavare won 15 seats out of 50 in the new parliament, according to SIBC.
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Lobbying to form Solomon Islands next govt underway as counting wraps up in the Solomon Islands the electoral commission is looking at trialing out of constituency voting.
With only a handful of seats in the 50-member parliament yet to be officially declared there is no outright winner.
But lobbying to form the country's next government is underway.
As of yesterday, the two largest blocs in the winner's circle, Independents and the incumbent prime minister Manasseh Sogavare's Our Party, were tied with 12 MPs each.
RNZ Pacific Editor Koroi Hawkins spoke with Chief Electoral Officer, Jasper Anisi, and asked him how he thought the country's first joint national election went.
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Solomon Islands faces a nervous wait to establish a government as opposition parties vie with incumbent Prime Minister Manesseh Sogavare's OUR party to form a coalition with independents after a national election failed to produce a clear winner.
Last week's election was the first since Sogavare struck a security pact with China in 2022, inviting Chinese police into the archipelago and drawing the Pacific Islands nation closer to Beijing.
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Manasseh Sogavare and his party took 12 seats. Although six have not yet been called, the ruling party will not have a majority. Other parties want to reduce Beijing's influence. Tensions rose during the campaign, with clashes between rival villages. Negotiations for the next government could take weeks.
April 26, 2024 7:10 am
The Embassy of Solomon Islands in Beijing is in discussion with the National Development and Reform Commission of the People’s Republic of China to negotiate an agreement and project implementation plan for Solomon Islands under the Belt and Road Initiative.
Solomon Islands Ambassador to China H.E Barrett Salato held discussion with senior officials from the National Development and Reform Commission (NDRC) of PRC on Tuesday, 16th April, to start the next steps on the Belt and Road Initiative (BRI) cooperation with China.
Cooperation under the Belt and Road Initiative requires a three steps process. The first step is the signing of the BRI by a partner country, which Solomon Islands government have done in 2019. The second step is to negotiate the standard cooperation agreement and its accompanying project implementation plan. And the third step is implementation stage.
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The Chinese Government Announced Its Joint Project with This Altcoin, The Price Skyrocketed!
The China govenment has launched a blockchain project titled "Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative". This project is led by Conflux Network. The main focus of the project is to create a public blockchain infrastructure…
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The significance of integrating blockchain technology into the BRI extends beyond mere technological innovation. It underscores China’s strategic vision to establish itself as a leader in the digital economy and reshape global trade dynamics. By leveraging blockchain to enhance connectivity and streamline trade processes, China aims to strengthen its economic influence and promote cooperation among participating nations.
While China has banned cryptocurrency trading and initial coin offerings (ICOs), it has adopted a more nuanced approach to blockchain technology, recognizing its potential to drive innovation and economic growth.
The unveiling of the Ultra-Large Scale Blockchain Infrastructure Platform represents a significant milestone in China’s blockchain journey and underscores its commitment to leveraging emerging technologies for strategic advantage. As the project moves forward, stakeholders will be closely monitoring its progress and assessing its impact on global trade and economic cooperation.
China’s bold blockchain initiative for the BRI signals a paradigm shift in the way nations approach international trade and economic development. With blockchain technology poised to play a central role in shaping the future of global commerce, China’s strategic investment underscores the transformative potential of emerging technologies in reshaping the global economic landscape.
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Shanghai Gas (Group) Co., Ltd, a wholly-owned subsidiary of Shenergy Group Company Limited which provides energy coverage for greater Shanghai Metropolitan area, collaborate further with VeChain to develop and roll out a blockchain-enabled energy project. The partnership aims to optimize business processes, reduce operation costs, improve the supply chain efficiency and build a trust-free “Energy-as-a-Service” ecosystem.
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VeChain Co Founds The Belt and Road Initiative Blockchain Alliance