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☆ Philippines' Marcos Says Secessionist Threats 'Doomed to Fail'
▼ + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

MANILA (Reuters) - Philippine President Ferdinand Marcos Jr said on Thursday that calls for independence for the country's southern island of Mindanao were a "constitutional travesty" and "doomed to fail." "The new call for a separate Mindanao is doomed to fail, for it is anchored on a false premise, not to mention a sheer constitutional travesty," Marcos said in a speech on Constitution Day without naming his outspoken predecessor. "I strongly appeal to all concerned to stop this call for a separate Mindanao. "This is not the new Philippines that we are trying to mold. That was followed by Marcos' defence chief on Monday vowing to strictly enforce the country's sovereignty after Duterte's secessionist threats.

Persons: Ferdinand Marcos Jr, Rodrigo Duterte, Marcos, Duterte, Karen Lema, Hugh Lawson Organizations: Sunday Locations: MANILA, Philippine, Mindanao, Philippines, Republic

☆ Moody's cut China's credit outlook to negative on rising debt risks
▼ + stars: | 2023-12-05 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Moody's though retained China's "A1" long-term rating on the country's sovereign bonds, while expecting China annual GDP growth to slow to 4% in 2024 and 2025 and average 3.8% from 2026 to 2030. Structural factors including weak demographics will drive a decline to 3.5% by 2030, it said. China credit default swaps (the cost of insuring against a government default) rose 4 basis points from Monday's closing level, according to Reuters data. Beijing disappointmentChina's Finance Ministry expressed its disappointment with Moody's downgrade decision. "Moody's concerns about China's economic growth prospects and fiscal sustainability are unnecessary," the ministry said in a statement Tuesday.

Persons: Javier Ghersi, Moody's Organizations: China's, Ministry Locations: China, Beijing

☆ Morning Bid: Buoyant markets hold near year's highs
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +5 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Fed futures markets think a first cut may come as soon as March - with a quarter-point easing by then already two-thirds priced. Two-year Treasury yields hit their lowest since June on Friday and 10-year yields their lowest in three months, although they edged higher on Monday. U.S. crude hit its lowest in two weeks and is tracking year-on-year losses of almost 10%. But that is widening into yearend as peak rate hopes encourage some rotation to smaller cap stocks.

Persons: Carlo Allegri, Mike Dolan, Jerome Powell, Powell, Goldman Sachs, Jan, Fitch, Bitcoin, Christine Lagarde, Joann, Kirsten Donovan Organizations: New York Stock, REUTERS, Federal Reserve, Spelman College, Fed, Tech, HK, Central Bank, Treasury, PMI Reuters Graphics Reuters, Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Europe, Gaza, China, Hong Kong, WuXi, Evergrande, RGC Resources

☆ Yellen says Biden, Xi remain far apart on Taiwan's independence post-APEC
▼ + stars: | 2023-11-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Treasury Secretary Janet Yellen said Monday that U.S. President Joe Biden and Chinese President Xi Jinping remained far apart on the status of Taiwan after their high-profile meeting last week during the Asia-Pacific Economic Cooperation conference in San Francisco. "President Xi did express the view that it's important for Taiwan and mainland China to unify. "But President Biden said our policy remains unchanged from what it's always been with respect to Taiwan." Even after their talks last week, Biden and Xi's deadlock on the issue could have military ramifications, despite Xi's insistence that he does not want military conflict. Already, Taiwanese officials have reported escalating Chinese military action around the island in recent months.

Persons: Janet Yellen, Xi Jinping, Joe Biden, Xi, Yellen, Biden, it's, China's, Nancy Pelosi, I'm, that's Organizations: San Francisco International, Economic Cooperation, U.S, ., China, APEC Locations: Asia, San Francisco , California, Taiwan, San Francisco, China, People's Republic of China, U.S, Ukraine, Israel

☆ Egypt's Sisi warns region could become 'ticking time bomb'
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

The Egyptian Presidency/Handout via REUTERS/File... Acquire Licensing Rights Read moreCAIRO, Oct 28 (Reuters) - Egypt's President Abdel Fattah al-Sisi on Saturday warned against any expansion of the conflict in Gaza, saying the region risked becoming a "ticking time bomb". He also said his country's sovereignty should be respected after drones were intercepted after entering Egyptian air space on Friday. Israel on Friday said it was the target of the drones which it blamed on Yemen's Iranian-backed Houthi movement. Egypt's military said the drones, which fell on the Egyptian towns of Taba and Nuweiba near the Israeli border, injuring six, originated in the southern Red Sea. The region will becoming a ticking time bomb that impacts us all," Sisi said, speaking at a conference.

Persons: Abdel Fattah al, Sisi, Nafisa, Jason Neely, Giles Elgood Organizations: REUTERS, Israel, Thomson Locations: Suez, Cairo, Gaza, Egypt, Egyptian, CAIRO, Taba, Nuweiba, Red, Israel

☆ North Korea's Kim shares letters with Russia's Putin, wishes victory over 'imperialists'
▼ + stars: | 2023-10-11 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

Russia's President Vladimir Putin and North Korea's leader Kim Jong Un attend a meeting at the Vostochny ?osmodrome in the far eastern Amur region, Russia, September 13, 2023 in this image released by North Korea's Korean Central News Agency. In his letter, Kim said he was extremely satisfied with their "candid, comprehensive" discussions during the visit. He pledged to further develop relations to a "new height" and wished Putin good luck in resisting Western pressure over Ukraine. Putin, in his message to Kim, said their recent meeting was more evidence of developing ties. Washington has accused has accused North Korea of providing weapons to Russia for its war in Ukraine, including artillery shells, shoulder-fired rockets and missiles.

Persons: Vladimir Putin, Kim Jong Un, Kim Jong, KCNA, Putin, Kim, Kim's, Hyonhee Shin, Lincoln Organizations: North, Korean Central News Agency, KCNA, REUTERS, Rights, Thomson Locations: Amur, Russia, Rights SEOUL, North Korea, Ukraine, Northeast Asia, Moscow, Pyongyang, Washington

☆ Israel shekel sinks to lowest since 2016, default insurances soars
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. The weekend attack and retaliatory strikes by Israel have claimed more than 1,500 lives, raising fears the region could face a prolonged wave of conflict and violence. Stocks, bonds and currencies of Israel and neighbouring countries such as Lebanon, Jordan and Egypt have come under severe pressure in recent days. The Bank of Israel announced on Monday it would sell up to $30 billion of foreign currency in the open market to stabilise the currency. Reporting by Karin Strohecker and Amanda Cooper; Graphic by Marc Jones, Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Nir Elias, JPMorgan's Zafar Nazim, Karin Strohecker, Amanda Cooper, Marc Jones, Christina Fincher Organizations: REUTERS, P Global Market Intelligence, Bank of Israel, Reuters Graphics JPMorgan, Gulf Corporation, Key Tel, Thomson Locations: Israel, Lebanon, Jordan, Egypt, Gulf, Key Tel Aviv

☆ Thailand's new prime minister boosts optimism, but his populist policies pose fiscal risks
▼ + stars: | 2023-09-25 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +6 min

Srettha Thavisin, Thailand's prime minister, arrives at the Thai Parliament in Bangkok, Thailand, on Monday, Sept. 11, 2023. Srettha, Pheu Thai's choice for leader, was appointed prime minister on Aug. 22 — the same day that former prime minister and Pheu Thai founder Thaksin Shinawatra returned to Thailand after 15 years of self-exile. watch nowThe prime minister also pledged to relieve the country's debt problems. "PM Srettha will slowly implement Pheu Thai's populist economic policies as he has to meet public expectations," said Dusadeeisariyakul. Other experts warned against overthinking the fiscal damage since many of Pheu Thai's populist pledges may not materialize.

Persons: Srettha, Valeria Mongelli, Srettha Thavisin, Pheu, Thaksin Shinawatra, Thaksin's, Pimrapaat Dusadeeisariyakul, Friedrich Naumann, Thaksin, Stratfor, Fitch, Teerasak Siripant Organizations: Thai, Bloomberg, Getty, Pracharat Party, United Thai Nation Party, Bhumjathai Party, Friedrich, Friedrich Naumann Foundation, Fitch, Bower Group Locations: Bangkok, Thailand, Thai

☆ Philippines to remove barrier placed by China in South China Sea - national security advisor
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Chinese Coast Guard boats close to the floating barrier are pictured on September 20, 2023, near the Scarborough Shoal in the South China Sea, in this handout image released by the Philippine Coast Guard on September 24, 2023. Philippine Coast Guard/Handout via REUTERS/File Photo Acquire Licensing RightsSummary Philippines condemns China floating barrier near disputed shoalPhilippines says barrier violates Filipinos' fishing rightsMANILA, Sept 25 (Reuters) - The Philippines will take "all appropriate actions to cause the removal of barriers" in a disputed area of the South China Sea, the country's national security advisor said on Monday. "We condemn the installation of floating barriers by Chinese coast guard," national security adviser Eduardo Año said in a statement. China claims 90% of the South China Sea, overlapping with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. Tarriela said that according to Filipino fishermen, the Chinese coast guard usually installs such barriers when they monitor a large number of fishermen in the area, then remove it later.

Persons: Eduardo Año, Jay Tarriela, Tarriela, Enrico dela Cruz, Kanupriya Kapoor Organizations: Guard, Philippine Coast Guard, REUTERS, Thomson Locations: Scarborough, South China, Philippines, China, MANILA, People's Republic of China, Manila, Vietnam, Malaysia, Brunei, Indonesia, Beijing, Philippine, Bajo, Masinloc

☆ Philippines Removes Chinese Barrier at Disputed Shoal in 'Special Operation'
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

By Enrico Dela CruzMANILA (Reuters) -The Philippines said on Monday it executed a "special operation" to remove a floating barrier installed by China at a prime fishing patch in the South China Sea, a move that could stoke tension after a years-long detente in Asia's most disputed waters. Hours after the national security adviser had vowed to take action, the Philippine coastguard said it had removed the floating cordon, at the behest of President Ferdinand Marcos Jr and his special task force on the South China Sea. Japan's government urged calm and said the South China Sea was central to regional stability. "Our country strongly opposes any conduct that heightens tension in the South China Sea," Japanese Chief Cabinet Secretary Hirokazu Matsuno said at a regular press conference. China on Monday said the shoal, which it calls Huangyan Island, was "China's inherent territory", over which it had indisputable sovereignty.

Persons: Enrico Dela Cruz, Ferdinand Marcos Jr, Rodrigo Duterte, Hirokazu Matsuno, Huangyan, Wang Wenbin, Enrico dela Cruz, Liz Lee, Kiyoshi Takenaka, Kanupriya Kapoor, Martin Petty, Alex Richardson Organizations: stoke, coastguard, Philippine coastguard, Philippine, China, South China, Chinese coastguard Locations: Philippines, China, South China, Asia's, Scarborough, Philippine, Manila, Washington, Beijing, British, South, Hague, Tokyo

☆ India's Opposition Congress Dismisses Canada's Suspicions on Sikh Leader's Murder
▼ + stars: | 2023-09-20 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

By YP RajeshNEW DELHI (Reuters) - India's main opposition Congress party backed on Wednesday the government's rejection of Canada's suspicions that New Delhi's agents had links to the murder of a Sikh separatist leader, and urged a stand against threats to the country's sovereignty. Congress spokespersons backed what they called India's "fight against terrorism" and criticised Trudeau. Khalistan is the name of an independent Sikh state whose creation was the goal of a bloody Sikh insurgency in the 1980s and 1990s in India's northern state of Punjab during which tens of thousands were killed. "The Indian National Congress has always believed that our country's fight against terrorism has to be uncompromising, especially when terrorism threatens India's sovereignty, unity and integrity." Canada has the largest population of Sikhs outside the Indian state of Punjab, with about 770,000 people reporting Sikhism as their religion in the 2021 census.

Persons: YP Rajesh NEW DELHI, Justin Trudeau's, Hardeep Singh Nijjar, Trudeau, Abhishek Manu Singhvi, Jairam Ramesh, Indira Gandhi, Beant Singh, FRANK, YP Rajesh, Clarence Fernandez Organizations: YP Rajesh NEW, Twitter, Indian National Congress, Research, Economic Times, Press Trust of India, Indian Express, YP Locations: India, British Columbia, Delhi, India's, Punjab, New Delhi, Australia, Britain, Canada, United States, Ottawa, Indian

☆ India's opposition Congress dismisses Canada's suspicions on Sikh leader's murder
▼ + stars: | 2023-09-20 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

Congress spokespersons backed what they called India's "fight against terrorism" and criticised Trudeau. Khalistan is the name of an independent Sikh state whose creation was the goal of a bloody Sikh insurgency in the 1980s and 1990s in India's northern state of Punjab during which tens of thousands were killed. "The Indian National Congress has always believed that our country's fight against terrorism has to be uncompromising, especially when terrorism threatens India's sovereignty, unity and integrity." New Delhi, which urged Ottawa to act against anti-Indian elements, has long been unhappy over Sikh separatist activity in Canada. Canada has the largest population of Sikhs outside the Indian state of Punjab, with about 770,000 people reporting Sikhism as their religion in the 2021 census.

Persons: Hardeep Singh Nijjar, Nanak, Chris Helgren, Justin Trudeau's, Trudeau, Abhishek Manu Singhvi, Jairam Ramesh, Indira Gandhi, Beant Singh, FRANK, YP Rajesh, Clarence Fernandez Organizations: REUTERS, Twitter, Indian National Congress, Research, Economic Times, Press Trust of India, Indian Express, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, India, Delhi, India's, Punjab, New Delhi, Australia, Britain, United States, Ottawa, Indian

☆ China communications firm Guodong raises $150 mln from Middle Eastern sovereign fund
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Guodong Network Communication Group, a Chinese communications infrastructure and service provider, has raised $150 million from a Middle Eastern country's sovereign wealth fund, the deal's adviser China Renaissance said on Tuesday. The statement did not identify the sovereign wealth fund. A China Renaissance spokesperson declined to comment, while Guodong didn't immediately respond to a Reuters request to comment. Guodong, founded in 1997, has 40,000 communications base stations and provides data centres that can support cloud computing in China, according to its website. It has received funds from investors including Morgan Stanley, the investment arms of top Chinese investment banks CICC and CITIC and a sovereign wealth fund from Abu Dhabi, said the website.

Persons: Guodong didn't, Ji Xiaoling, Morgan Stanley, Roxanne Liu, Kane Wu, Rashmi Organizations: Communication, China Renaissance, Thomson Locations: Eastern, China, U.S, Abu Dhabi

[1/2] Guatemalan presidential candidate Bernardo Arevalo of the Semilla party addresses supporters during his closing campaign rally, ahead of Sunday's presidential run-off, at the Plaza Central in Guatemala City, Guatemala August 16, 2023. REUTERS/Cristina Chiquin/File Photo Acquire Licensing RightsGUATEMALA CITY, Aug 21 (Reuters) - Guatemala's Bernardo Arevalo, who won Sunday's presidential run-off by double-digits, is looking to retrace his father's footsteps more than 70 years after Arevalo senior broke a long period of dictatorship to become the country's first democratically elected president. "I'm not my father, but I'm traveling down the same road he built," Arevalo said last week during his campaign's closing rally. The family lived in Venezuela, Mexico and Chile before returning to Guatemala when Arevalo was a teenager. Arevalo took part in the pivotal 2015 protests, and a couple of years later helped create what would become the upstart Seed movement - Semilla in Spanish.

Persons: Bernardo Arevalo, Cristina Chiquin, Guatemala's Bernardo Arevalo, Arevalo, Juan Jose Arevalo, Sandra Torres, Alvaro Montenegro, Otto Perez Molina, June's, January's, Sofia Menchu, Diego Ore, David Alire, Rosalba O'Brien Organizations: Plaza Central, REUTERS, GUATEMALA CITY, Central, Prosecutors, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, Central America's, Uruguay, U.S, Venezuela, Mexico, Chile, Israel, Spain

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. The official FX rate will be fixed at 350 pesos per dollar until the October elections, the central bank said. The country's sovereign dollar bonds fell as much as 2 cents on the dollar, with the 2038 note leading the slide, according to MarketAxess data. Latin America's third-largest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, William Jackson, overvalued, Sunday's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Rodrigo Campos, Jorge Otaola, Medha Singh, Adam Jourdan, Bernadette Baum, John Stonestreet, Andrew Cawthorne Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Capital Economics, Investment, JPMorgan, Gross, Milei, Peronist, Economy, Analytica, Reuters Graphics Reuters, International Monetary Fund, IMF, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, MERV, Argentine, refinance, Washington, Rosario

☆ Fitch just downgraded US debt. Goldman Sachs says it's no big deal.
▼ + stars: | 2023-08-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Fitch downgraded US debt from AAA to AA+ on Tuesday, but Goldman Sachs isn't concerned. The ratings agency downgraded the US's long-term debt from AAA to AA+, pointing to this summer's last-minute debt deal, rising government debt, and suspect long-term management. Here's how Goldman Sachs responded:"Bottom line: the downgrade mainly reflects governance and medium-term fiscal challenges, but does not reflect new fiscal information. Big holders of US Treasury securities aren't going to rush to shed their holdings just because of the downgrade, Goldman maintained. Finally, Fitch did not adjust its "country ceiling" to reflect the downgrade, and that currently still sits a AAA level, according to Goldman.

Persons: Fitch, Goldman Sachs isn't, Goldman Sachs, Jan Hatzius, Goldman Organizations: AAA, Service, AA, Treasury Locations: Wall, Silicon

☆ France to cut government spending by 4.2 bln eur next year - minister
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 17 (Reuters) - The French government expects to spend 4.2 billion euros ($4.71 billion) less in 2024 as it scales back massive consumer subsidies on fuel and electricity, according to first budget estimates sent to parliamentarians. "For the first time in almost a decade, spending will decrease when compared to the previous year: 4.2 billion euros down", Budget Minister Gabriel Attal told paper Les Echos on Sunday. "We are ending the exceptional crisis spending and are making savings, to finance the green transition," Attal said. Finance Minister Bruno Le Maire has asked each ministry to identify cutbacks worth 5% of their budget. A finance ministry source said on Sunday that France's debt reduction would be achieved through various means, including savings in employment and housing policies.

Persons: Gabriel Attal, Emmanuel Macron's, Attal, Fitch, Bruno Le Maire, Tassilo Hummel, Bertrand Boucey, Angus MacSwan Organizations: Finance, Thomson Locations: France

☆ Mozambique ex-finance minister denied bail in New York over $2 billion 'tuna bond' scandal
▼ + stars: | 2023-07-14 | by ( Michelle Caruso-Cabrera | ) www.cnbc.com time to read: +3 min

Judge Nicholas Garaufis denied the defendant's request for bail, deeming Chang a flight risk. the judge asked Chang's lawyer, Adam Ford. Hinting at his future defense, Chang's lawyer stated that although his client's signature is on the loan documents, it doesn't indicate he knew about the fraud. Judge Garaufis responded "I'm asking because I understand you have a master's degree from the University of London." Chang's lawyer stated that given the significance of the proceedings, it would be helpful for his client to have an interpreter.

Persons: Manuel Chang, Chang, Judge Nicholas Garaufis, Adam Ford, Ford, Hiral Mehta, Garaufis, Chang's, Judge Garaufis Organizations: Credit Suisse, UN, Prosecutors, Three Credit Suisse, University of London Locations: Brooklyn, South Africa, Mozambique, Manhattan, United States, Portuguese

☆ Sudan clashes intensify with no mediation in sight
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

CAIRO, July 2 (Reuters) - Clashes between Sudan's army and paramilitary Rapid Support Forces (RSF) intensified on Sunday, as the war in the country's capital and western regions entered its 12th week with no attempts in sight to bring a peaceful end to the conflict. The RSF said it brought down an army warplane and a drone in Bahri, in statements to which the army did not immediately respond. "We're terrified, every day the strikes are getting worse," 25-year-old Nahid Salah, living in northern Omdurman, said by phone to Reuters. The Sudanese Doctors Union accused the RSF on Saturday of raiding the Shuhada hospital, one of the few still operating in the country, and killing a staff member. Last week, army chief Abdel Fattah al-Burhan and his deputy on the country's Sovereign Council Malik Agar expressed openness to any mediation attempts by Turkey or Russia, though no official efforts have been announced.

Persons: Salah, Abdel Fattah al, Burhan, Malik Agar, Khalid Abdelaziz, Nafisa Eltahir, Adam Makary, David Holmes Organizations: Rapid Support Forces, Reuters, Sudanese Doctors Union, Unit, country's Sovereign, Nafisa, Thomson Locations: CAIRO, Omdurman, Khartoum, Kordofan, Darfur, El Geneina, El, South Darfur, Jeddah, United States, Saudi Arabia, East, Kenya, country's, Turkey, Russia, Dubai, Cairo

☆ The Federal Reserve thinks catastrophe is coming for US businesses
▼ + stars: | 2023-06-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

One report, written by the Federal Reserve's own economists, left me with not exactly an upbeat outlook. Federal Reserve Board Chair Jerome Powell testifies during a House Committee on Financial Services hearing, Wednesday, July 18, 2018, Capitol Hill in Washington. That is, more than a third of companies could default in the coming months, thanks to tightening monetary policy. Basically, they are predicting that companies feel pain in times of policy tightening, especially those with weaker balance sheets to begin with. Investors should monitor these bearish signals to stay ahead of a potential sell-off in the stock market.

Persons: Phil Rosen, You'll, Jerome Powell, Jacquelyn Martin, Ander Perez, Orive, Yannick Timmer, Kevin Rendino, he's shorting, Goldman Sachs, Morgan Stanley, Max Adams, Hallam Bullock Organizations: Federal, Financial Services, Capitol, European Central Bank, Bloomberg, Bank of America, Barclays, Elon Musk's Locations: New York, Washington, London

☆ Saudi Arabia: What is the nation hoping to achieve amid transfer takeover and what happens next?
▼ + stars: | 2023-06-25 | by ( Kaveh Solhekol | ) www.cnbc.com time to read: +6 min

Sky Sports News chief reporter Kaveh Solhekol analyses this transfer market trend... Why are Saudi Arabia spending huge sums on foreign players all of a sudden? Saudi Arabia is looking to expand its economy through other industries in order to help guarantee its financial future. It wants to put Saudi Arabia on the map and raise its profile. What else is Saudi Arabia hoping to achieve? Has Saudi Arabia distorted the transfer market forever?

Persons: Cristiano Ronaldo, Mohammed Saad, Ballon, Karim Benzema, Sergio Ramos, Bernardo Silva, Heung, Min Son, Kaveh, Mason Mount Chelsea, Declan Rice, Saudi Arabia —, sportswashing, Jamal Khashoggi, Oscar, West Ham's Marko Arnautovic, Lionel Messi, Ruben Neves, Kalidou Koulibaly, Hakim Ziyech, Erling Haaland, Harry Kane, Mohammed Hamdi, It's, Son Organizations: Saudi Pro League, Al, Alawwal, Anadolu Agency, Getty Images, Real, Chelsea, Premier League, Sky Sports News, Sky Sports, Manchester United, Arsenal, Soccer, Qatar, eventual, Argentina, Amnesty, Rights, Rights Watch, United, Super League, Brazil, Communist Party, Chinese Super League, MLS, Al Jazira FC, Saudi, Tottenham, Spurs Locations: Al, Shabab, Riyadh, Saudi Arabia, Getty Images Saudi Arabia, Real Madrid, Bournemouth, Saudi, United Nations, Kingdom of Saudi Arabia, Greece, Egypt, China, Europe, Al Hilal, Al Jazira, Abu Dhabi, Qatar

☆ Putin extols Russian economic performance, defends military spending
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin gives a speech at a plenary session of the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 16, 2023. President Vladimir Putin on Friday cited positive data points to laud Russia's economic health and said surging defense spending was needed to boost national security, as Moscow grapples with the cost of fighting in Ukraine. Analysts and data, however, suggest that slumping energy revenues and soaring military spending have played a key role. "I should say that on the whole this justifies itself from an economic point of view," Putin added. The central bank has repeatedly warned that a labor shortage is exacerbating inflationary risks, and analysts have named it one of the most significant drags on Russia's economic progress.

Persons: Vladimir Putin, laud, Putin Organizations: Saint Petersburg, Economic, St Petersburg, Monetary Fund Locations: Saint Petersburg, Moscow, Ukraine

☆ Taiwan sends up fighters as Chinese warplanes cross strait's median line
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +3 min

TAIPEI, June 11 (Reuters) - Taiwan's air force scrambled into action on Sunday after spotting 10 Chinese warplanes crossing the sensitive median line of the Taiwan Strait, as the island's defence ministry said four Chinese warships also carried out combat patrols. In a short statement, Taiwan's defence ministry said that as of 2 p.m. (0600 GMT) on Sunday it had detected 24 Chinese air force planes, including J-10, J-11, J-16 and Su-30 fighters, as well as H-6 bombers. It did not specify where the aircraft flew but said 10 had crossed the median line of the Taiwan Strait, which separates the two sides and had previously served as an unofficial barrier. China's defence ministry did not immediately respond to requests for comment. In April, China held war games around Taiwan following a trip to the United States by Taiwan President Tsai Ing-wen.

Persons: Tsai Ing, William Lai, Lai, Tsai, Laura Rosenberger, Ben Blanchard, Martin Pollard, Michael Perry, William Mallard Organizations: Taiwan, Democratic Progressive, American Institute, Thomson Locations: TAIPEI, Taiwan, Pacific, China, Taiwan Strait, United States, Beijing, Washington, Taipei

☆ Taiwan scrambles fighter jets after 10 Chinese warplanes fly across the sensitive median line
▼ + stars: | 2023-06-11 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

Taiwan deployed fighter jets after 10 Chinese planes crossed the median line of the Taiwan Strait. Earlier this week, 37 Chinese military planes also flew into Taiwan's air-defense system. This is not the first instance of Chinese military activity around Taiwan this week. Reuters reported that 37 Chinese military planes flew into Taiwan's air-defense system before some headed to the western Pacific. China views Taiwan as part of its own territory, claiming that it is a breakaway province.

Persons: —, USS Chung, Xi Jinping Organizations: Service, People's Liberation Army Navy, Reuters, US, Fleet, 052D, Suzhou, Pacific Command, USS Locations: Taiwan, Taiwan Strait, American, China, Pacific

☆ Indonesia proposes demilitarised zone, UN referendum for Ukraine peace plan
▼ + stars: | 2023-06-03 | by ( Kanupriya Kapoor | Thomson Reuters | Edits Breaking News Across Southeast Asia Covers Longform Stories On Politics | ) www.reuters.com time to read: +2 min

SINGAPORE, June 3 (Reuters) - Indonesia's defence minister on Saturday proposed a peace plan for the war in Ukraine, calling for a demilitarised zone and a United Nations referendum in what he called disputed territory. He proposed a multi-point plan including a ceasefire "in place at present positions of both conflicting parties" and establishing a demilitarised zone by withdrawing 15 kilometres (nearly 10 miles) from each party's forward position. "We cannot stop supporting militarily Ukraine because we don't want the peace which is ... the peace of the surrender. Ukrainian President Volodymr Zelenskiy has proposed a 10-point peace plan, which calls on Russia to withdraw all its troops from Ukraine. Chief diplomatic adviser Ihor Zhovkva said Ukraine had no interest in a ceasefire that locks in Russian territorial gains.

Persons: Subianto, Prabowo, Joko Widodo's, Josep Borrell Fontelles, Borrell, Volodymr Zelenskiy, Ihor Zhovkva, Kanupriya Kapoor, Gerry Doyle Organizations: United, United Nations, UN, Union's European Commission, Ukraine, Thomson Locations: SINGAPORE, Ukraine, United Nations, Singapore, Russia, Moscow, Kyiv

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