U.S. President Joe Biden’s trip to Angola signals a new chapter in the competition for African resources, especially with China. During his visit, Biden highlighted a U.S.-backed railway project connecting Congo and Zambia to Angola’s Lobito port. The project, financed by a $550 million loan from the U.S., aims to reduce China’s dominance over African mineral exports. Biden’s visit underscores efforts to strengthen ties with Angola while promoting economic growth through the railway initiative. Biden’s trip also emphasizes the increasing U.S.-China rivalry in Africa, particularly regarding the continent’s natural resources. The visit has drawn attention to U.S. efforts to expand…
Author: Web Desk
In a bold statement, former U.S. President Donald Trump has threatened to impose tariffs as high as 100% on goods from the BRICS countries, including China, Russia, India, Brazil, and South Africa. This move follows the ongoing concerns surrounding the BRICS nations’ proposal to establish a unified currency for trade, which could challenge the dominance of the U.S. dollar in global markets. Trump’s remarks, made during a recent interview, emphasize the significant impact that such a currency would have on global trade. The BRICS countries have been exploring this idea for years, aiming to reduce their reliance on the U.S.…
In November 2024, Pakistan’s Consumer Price Index (CPI) inflation recorded a significant drop to 4.9%, marking the lowest rate in 6.5 years. This decrease signals a continued easing trend from the peak of 38% last year. Compared to 7.2% in October and 29.2% in the same month of 2023, the decline showcases the effectiveness of economic measures. However, on a month-to-month basis, inflation increased by 0.5%. The current inflation reduction aligns with the State Bank of Pakistan’s aim to bring inflation to a target range of 5-7% by 2025, ensuring greater macroeconomic stability. Despite the low reading, key essentials like…
Karachi: December 2, 2024 The Pakistan Stock Exchange (PSX) continues to show positive growth, as the benchmark KSE-100 index exceeded the 100,000-point mark for the first time in history. With investors expecting a drop in inflation for November, the index surged by over 1,900 points, closing at 103,274.94. This increase is driven by expectations that lower inflation will lead to reduced interest rates, benefiting various sectors like the automotive industry, which is already witnessing growth in sales. Experts believe that continued optimism surrounding the PSX is linked to the stabilization of Pakistan’s macroeconomic indicators, including anticipated policy adjustments aimed at…
City: Islamabad The ongoing conflict in Gaza continues to worsen as Israel’s military operations intensify, resulting in significant casualties and widespread destruction. As Israeli forces launch a large-scale ground invasion, Gaza’s already fragile infrastructure faces immense challenges. Civilians are bearing the brunt of the violence, with countless lives lost in the crossfire. Despite various international calls for ceasefires and humanitarian interventions, the situation shows no signs of resolution. Efforts from global powers to mediate peace have largely been unsuccessful, as Israel’s military aims to dismantle Hamas’ infrastructure. However, the tactics employed by both sides have led to a dramatic increase…
Damascus, Syria – December 2, 2024: Syrian President Bashar al-Assad is working to consolidate support following the loss of Aleppo to opposition forces. Amid escalating internal and external challenges, Assad’s government is engaging in diplomatic efforts with regional allies to maintain its control over key territories. The loss of Aleppo has significantly impacted Assad’s military and political standing, prompting urgent attempts to bolster loyalty from various factions and military groups within Syria. Internationally, Assad’s efforts are being scrutinized as the geopolitical situation in the region remains tense. The ongoing struggle for power and influence within Syria has led to a complex…
In a significant escalation of the ongoing technological rivalry, the United States has announced new sanctions targeting key Chinese semiconductor companies, including Naura Technology and Piotech. These measures are designed to limit China’s access to advanced semiconductor manufacturing tools, crucial for the development of AI and military technologies. The sanctions expand on previous restrictions and involve collaboration with international partners like Japan and the Netherlands to control the export of semiconductor equipment. This latest move is expected to further disrupt China’s ambitions in high-tech industries.
City: Nzerekore, Guinea A catastrophic stampede at a stadium in Nzerekore, Guinea, resulted in the tragic deaths of 56 people following a violent dispute during a football match. The incident occurred during a tournament final honoring Guinea’s military leader, Mamady Doumbouya. The conflict, triggered by a controversial refereeing decision, led to fan violence, with stones being thrown and panic spreading. Videos showed desperate people scrambling over stadium walls in an attempt to escape. The authorities have promised a full investigation into the incident, and early reports suggest many of the victims were minors, with some parents even retrieving bodies before…
Dhaka, Bangladesh – December 2, 2024: Amid a growing payment dispute, Bangladesh has significantly reduced its electricity purchases from Adani Power, an Indian energy company. The reduction is attributed to Bangladesh’s foreign exchange crisis and a substantial unpaid balance of around $900 million. While Adani Power initially reduced its supply to Bangladesh due to payment delays, the Bangladesh Power Development Board (BPDB) has requested the company to maintain only half the supply, with assurances that outstanding dues will be cleared soon. Adani Power had been providing electricity to Bangladesh under a 25-year agreement signed in 2017, with a power plant in…
City: Washington, D.C. U.S. President Joe Biden is embarking on a pivotal trip to Africa, with a major focus on boosting U.S.-Angola ties while positioning America against China’s growing influence on the continent. A significant aspect of his visit is promoting a U.S.-backed railway project that links Congo and Zambia to Angola’s Lobito port, a strategic infrastructure initiative designed to shift Africa’s critical mineral exports away from China. This project is seen as a crucial step in challenging China’s dominance over Africa’s mineral market, particularly in cobalt and copper, which are vital to global industries. During the trip, Biden is…
