Author: Steven Sahiounie

The Gulf country is looking to inject more capital into the New Development Bank, the economy ministry says The United Arab Emirates is looking to its BRICS membership as an opportunity to develop trade and plans to commit more capital to the group’s New Development Bank (NDB), Economy Minister Abdulla bin Touq Al Marri told Bloomberg on Monday. Abu Dhabi joined the NDB two years ago and is now among the six new members approved to join the BRICS community last week. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates will become full-fledged members of the BRICS…

Binance has already banned users based in the country from conducting transactions in foreign currencies Binance, the world’s largest cryptocurrency exchange by trading volume, is considering a complete withdrawal from the Russian market, the Wall Street Journal reported on Monday, citing the company. The potential exit could come in response to regulatory challenges that Binance is facing within the country. “All options are on the table, including a full exit,” a company spokesperson told the US newspaper, without providing further details. The news comes after Binance recently announced that Russian users can now trade on the P2P…

The train is traveling along the key North-South trade route, according to Iran Railways A transit train from Russia hauling 36 containers passed through the Iranian transport corridor to Saudi Arabia over the weekend, the head of Iran Railways, Miad Salehi, announced on Sunday, according to media reports. Salehi said it was the first time transit cargo from Russia had traveled via Iran’s Incheh Borun rail border near Turkmenistan. It was dispatched to the port city of Bandar Abbas on the Strait of Hormuz and will be transferred from there to the Saudi Arabian port city of Jeddah by sea,…

The leader of the DPRK said that all branches of the armed forces “will receive new equipment” in accordance with the “policy of the expanded use of tactical nuclear weapons” North Korea plans to make the Korean People’s Army (KPA) Navy a part of nuclear deterrence forces, North Korean leader Kim Jong-Un said during his visit to the naval command, dedicated to the day of the Navy. “From now on, KPA’s Navy will become a part of the national nuclear deterrence force, tasked with strategic missions,” he said, according to KCNA. In addition, Kim Jong-Un said that all branches of…

A conversation in which EU leaders discussed their contact with the Russian president has been revealed by a German journalist German Chancellor Olaf Scholz was surprised by Russian President Vladimir Putin’s complete lack of concern about Western sanctions shortly after the outbreak of the conflict in Ukraine, Bild has reported. In an article on Monday, the German tabloid cited the contents of a conversation between Scholz and French President Emmanuel Macron, which was revealed by journalist Stephan Lamby in his new book ‘Emergency: Governing in Times of War’. The exchange, in which the two leaders discussed their phone calls with…

The move could enhance the country’s pricing power on the global market, according to the news outlet Moscow is assessing the possibility of establishing a unified trading company for fertilizer exports, Bloomberg reported on Monday citing sources close to the discussions. According to the report, the proposed move will unite Russian fertilizer exporters under one entity, which would give the country more sway in global pricing, while the government will gain more control over fertilizer export revenues. The idea was reportedly pitched last month by Dmitry Mazepin, founder of Russian fertilizer giant Uralchem. Over the past month, the proposal has…

UK Foreign Secretary James Cleverley will pay an official visit to China on August 30 at the invitation of the Chinese government, Chinese Foreign Ministry spokesman Wang Wenbin stated on Tuesday. “At the invitation of the member of the Politburo of the Central Committee of the Chinese Communist Party, Chinese Foreign Minister Wang Yi, the UK foreign secretary will pay an official visit to China on August 30,” Wang told a briefing. The spokesman also noted that China and the UK as permanent members of the United Nations Security Council have a “common responsibility to promote peace, stability and development throughout the…

Economic penalties on Beijing only disrupt the global supply chain, China’s commerce chief said China has raised “serious concerns” over US tariffs targeting its semiconductor industry and wider tech sector, warning that such measures violate the principles of fair competition, and harm the stability of world trade. Speaking after a round of talks with US Commerce Secretary Gina Raimondo in Beijing on Monday, Chinese Minister of Commerce Wang Wentao said that while the two sides had “candid and constructive” dialogue, ongoing US restrictions were continuing to hamper trade ties. Wang “raised serious concerns about issues including the US Section 301 tariffs on Chinese goods, its…

An airplane crashed on Monday evening in Norway, killing two local people. The crash site has been identified about 1 km south of the Reinsvoll airport in Vestre Toten, Innlandet, 100 km north of the capital Oslo. Xinhua quoted Jorgen Berg, the task leader for the local police as saying that”Forensic technicians and the Air Accidents Investigation Branch will soon begin their operations to recover the deceased and undertake essential investigations. Our primary aim is to determine the cause of the accident,” Berg told the state broadcaster NRK. Source: SANA

Dmitry Peskov noted that not only “verbal” but also factual confirmation of ineffectiveness of Western sanctions is now obvious Russian President Vladimir Putin has never brought up the subject of anti-Russian sanctions with German Chancellor Olaf Scholz, French President Emmanuel Macron or the leaders of other countries that introduced these restrictions, Kremlin Spokesman Dmitry Peskov told journalists. “On my part, I can only confirm that indeed, President Putin has never touched on the subject of sanctions in his interaction with the leaders of the countries that had introduced these sanctions,” the Kremlin official said, commenting on an article in the…