Author: Steven Sahiounie

The delegation reportedly said the release of Mohamed Bazoum was a priority demand A delegation of the Economic Community of West African States (ECOWAS), which is in Niamey to seek a peaceful solution to the crisis in Niger, has demanded the rebels release President Mohamed Bazoum, ousted at the end of July, the Al Arabiya TV channel reports. The ECOWAS delegation reportedly said the release of ousted President Mohamed Bazoum was a priority demand. The program of the ECOWAS delegation’s visit includes a meeting with the head of the National Council for the Safeguard of the Homeland, General Abdurahman Tchiani…

Trust in the western currencies has plunged in Russia since the introduction of sanctions The Chinese yuan is now the most popular foreign currency for savings among Russians, a survey conducted by the Public Opinion Foundation has revealed. Respondents were asked to imagine that they were given a large amount of money in rubles on condition that they must convert it into a foreign currency of their choice and keep it in a savings account for five years. Roughly 32% of respondents favored the Chinese currency. The euro came in second with 26%, followed by the US dollar with 23%.…

Evergrande has lost over $80 billion in the past two years and owes over $300 billion in liabilities The world’s most indebted property developer, China Evergrande Group, has filed for bankruptcy protection in the US in an effort to restructure its mounting debt, the company announced on Friday. The group’s petition was filed in the US bankruptcy court in the Southern District of New York. According to the court filing, the developer is seeking help under Chapter 15 of the US bankruptcy code, which protects non-US companies under restructuring from creditors planning to sue. Evergrande also said it will ask…

The majority of respondents say technological developments in the workplace may lead to a surge in unemployment. A growing number of US workers worry that developing technologies will one day cost them their jobs, Bloomberg reported this week, citing a Harris Poll survey conducted on behalf of the American Staffing Association (ASA). According to the report, 47% of respondents agree that machines could easily replace them at work. This is a notable increase from 2017, when a similar survey showed only 27% of workers thought automation, including robots and AI, could replace them. “In just a few short years, worker…

JDE Peet’s will stop supplying several products to the country, but will not leave the market Amsterdam-based JDE Peet’s will continue to work in Russia despite the sanctions and criticism, CEO Fabien Simon said in an interview with the Wall Street Journal published on Friday. The world’s second-largest packaged coffee maker, JDE Peet’s has continued to operate in Russia and has repeatedly defended its stance, unlike a number of other international companies that left the country due to Ukraine-related Western sanctions. “It’s most likely going to be an enduring war, which means we have to take a more enduring solution,”…

In the dynamic realm of Venezuela’s oil industry, a notable resurgence in daily oil production has marked the period from January to July 2023. Venezuela’s daily oil production experienced a rise from 732,000 to 810,000 barrels per day between January and July 2023, as per data released by Rafael Tellechea, the Venezuelan Oil Minister and head of the state oil and gas company PDVSA. Tellechea, expressing his viewpoint on X (previously known as Twitter), attributed this growth to President Nicolas Maduro’s strategy and the efforts of PDVSA employees, showcasing the country’s ability to withstand blockades and rely on its internal…

Iran’s oil exports to China rise as global market prices soar compared to discounted Iranian crude. China’s imports of Iranian oil surpassed their highest levels in a decade as Iran’s discounted crude is proving very competitive against global market prices, Kpler data institution said in a report. As Tehran develops a stronger presence in the region and deepens relations with surrounding countries, which has directly helped the Western-sanctioned country bypass a good chunk of the enforced embargo, its oil exports have been on a steady rise in the past few years, most of which going to China. According to the intelligence firm, Iran will…

China says its countermeasures taken in accordance with the law are “a legitimate move to safeguard its legitimate rights and interests.” China’s Commerce Ministry on Wednesday demanded that the United States immediately lift the tariffs imposed on Chinese steel and aluminum imports. The Ministry made the comments in response to a World Trade Organization (WTO) dispute settlement panel, which found China imposing additional duties on certain imports from the United States. China has taken note of the WTO panel finding and is studying the report, the Ministry said, blaming the root cause on “the unilateralist and protectionist behavior” of the…

At a meeting with coffee growers in the town of Pitalito, Colombian President Gustavo Petro announced on Wednesday his intent to renegotiate a free trade accord that Colombia already has with the main destination of its exports, the US. He said the 11-year treaty currently bans Colombia from growing local corn, and obligates it to plant strains only produced in the US and Canada. “I want to announce publicly that the renegotiation is starting,” Petro said, followed by a standing ovation, but did not provide further details. Petro previously announced his intent during the 2022 presidential election campaign to amend the accord…

The World Food Programme (WFP) announced on Friday the reduction of all its major relief programmes in Yemen, starting from the end of September, due to a severe funding crisis. The WFP shared in a statement on its website that it is: “Facing a deeper funding crisis for its Yemen operations from the end of September onward. This will force WFP to make difficult decisions about further cuts to our food assistance programmes across the country in the coming months. All of WFP’s major programmes will be affected – General Food Assistance (GFA), Nutrition, School Feeding and Resilience Activities – totalling 17.7…