Author: Steven Sahiounie

At least 100 people were killed and more than 150 injured when a fire broke out during a wedding at an event hall in the northern Iraqi town of Qaraqosh, officials said early Wednesday.At the main hospital in the predominantly Christian town east of Mosul, an AFP photographer saw ambulances arriving with sirens blaring and dozens of people gathering in the courtyard to donate blood.Others could be seen gathering in front of the open doors of a refrigerated truck loaded with black body bags.Citing a “preliminary tally,” Iraq’s official INA news agency reported that health authorities in Nineveh province had…

This was announced by Russia’s permanent representative to the UN Vasily Nebenzya Russia will soon submit to the UN Security Council a draft presidential statement regarding the Nord Stream sabotage, Russian Permanent Representative to the United Nations Vasily Nebenzya said on Tuesday. “As part of this effort, our country plans to submit to the Council a draft presidential statement on the issue. We will present its text in the coming days,” the Russian diplomat told the UN Security Council. A presidential statement is a statement made by the president of the Security Council on behalf of the Council, adopted at…

The Armenian health ministry has confirmed that the bodies of the victims have been transported to Armenia. An explosion and fire at a fuel depot in Nagorno-Karabakh have led to a tragic death toll of 125, a significant increase from the initial report of 20 fatalities by Karabakh authorities, sources reported on Tuesday. This incident occurred as many ethnic Armenians were fleeing the region following their defeat by Azerbaijan in a swift military operation. The Armenian health ministry has confirmed that the bodies of the victims have been transported to Armenia. The International Committee of the Red Cross (ICRC) has reported numerous burn…

A similar report from another Chinese court in September recognized cryptocurrencies as virtual properties protected by law. The Shanghai No.2 Intermediate People’s Court in China has reportedly recognized Bitcoin as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report stated that with the development of internet technology, digital currencies such as Bitcoin stand out as unique and non-replicable. The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets. The report also sheds…

The report compares stablecoins to money market funds and ultimately concludes they have similar shortcomings. The Federal Reserve Banks of Boston and New York published a staff report on Sept. 26 comparing stablecoins, such as Tether  $1.00, to money market funds. Key findings in the report include the observation that stablecoins and money market funds follow similar patterns during runs and that stablecoins could inject instability into the broader financial system. The report, titled “Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?,” includes a comprehensive comparison of investor behavior during the stablecoin runs of 2022 and 2023 to…

In June, Binance was ordered to halt its services in Belgium “with immediate effect,” leading to the exchange redirecting Belgian users to its Binance Poland entity. Crypto exchange Binance has reopened registrations and access to its products and services for its Belgian crypto users again — three months after the exchange was ordered by Belgium’s finance regulator to cease cryptocurrency-related services. “New registrations of Belgian residents are welcome on our platform once again,” Binance confirmed in a Sept. 25 post on X (formerly Twitter). Binance said various Binance products and services will become accessible again to Belgian users who have accepted the new…

Speaking on the sidelines of the 10th Iran International Exhibition of Rail Transportation and Related Industries dubbed “Iran Rail Expo” in Tehran on Tuesday, Mehrdad Bazrpash said the economic development of the country hinges on the development of transport infrastructures and the rail sector is one of the most important infrastructures. Two-thirds of parts and equipment used in the rail industry are manufactured in the country, the roads minister said, pointing out that efforts are underway to manufacture all parts in the rail industry in the country. Elsewhere in his remarks, he pointed to the International North-South Transport Corridor (INSTC) and said that completion of…

Speaking at the 2nd Iran-Iraq Joint Trade-Economic Forum on Tuesday, Mehdi Zeyghami stated that the level of trade and economic relations between Tehran and Baghdad has considerably increased in recent years. Iran has been under tough and cruel sanctions since the victory of the Islamic Revolution in 1979 and these sanctions have intensified especially in the past 10 years, he said, adding, “Despite all ups and downs experienced, Iran has attained salient achievements in terms of technology and industry.” Given the above issue, Iran is ready to share its experiences with neighboring Iraq in the field of technology and technical know-how as well as the…

The country has withstood Western pressure by developing new trade and boosting domestic investment, Oleg Deripaska has claimed The sanctions that the West has imposed on Moscow are ineffective and outdated, Russian businessman Oleg Deripaska told Financial Times on Tuesday. The founder of the world’s second-largest aluminum company, Rusal, likened sanctions to an economic “wonder-weapon,” but noted that their effectiveness is doubtful and could be harmful to the global economy as a whole. “I always doubted this Wunderwaffe [wonder-weapon], as Germans used to say, of sanctions – weaponizing the financial system as a kind of tool to negotiate… We made…

UAE President Sheikh Mohamed bin Zayed Al-Nahyan met with Dutch Prime Minister Mark Rutte on Tuesday to discuss bilateral ties and strategic cooperation between the two countries, Emirates News Agency reported. The two leaders discussed investment, the economy, education, culture, technology, and science during their meeting in Abu Dhabi. They also talked about renewable energy, sustainable development, and climate change, and addressed COP28 which will kick off in November in Expo City Dubai. Sheikh Mohamed and Rutte reaffirmed their shared commitment to achieving a major breakthrough in international climate action. The two exchanged views on a variety of regional and…