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☆ 3 reasons countries around the world want to break up with the dollar
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US dollar has been the world's reserve currency for decades, but its dominance is fading. US monetary policies, the strong USD, and structural shift in the global oil trade also contribute. Here are three other reasons countries around the world are attempting to line up plans to possibly move away from a dollar-dominated world. The arrangement was formalized in 1945 when the oil-giant country Saudi Arabia and the US reached a historic deal wherein Saudi Arabia would sell its oil to America only using the greenback. In return, Saudi Arabia would reinvest excess dollar reserves into US treasuries and companies.

Persons: Valéry Giscard d'Estaing, —, Narendra Modi's, Luiz Inácio Lula da Silva, It's, Donald Trump, wasn't, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Sarah Miller Organizations: Service, International Monetary Fund, Wilson, Reserve Bank of, Indian, Reuters, Allianz, Global, US, Washington Post, Energy Intelligence Locations: Russia, Wall, Silicon, Western, Ukraine, Washington, Brazil, Argentina, Bangladesh, India, France, Reserve Bank of India, China, South Africa, Saudi Arabia, America, Saudi

☆ PGA official pledges golfers will be able to criticize Saudi Arabia if the tour merges with the Saudi-backed LIV Golf
▼ + stars: | 2023-07-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

A top PGA official said golfers would still be able to criticize Saudi Arabia if the tour merges with LIV Golf. Blumenthal also accused the PGA of selling out to the controversial Saudi league. Blumenthal pointed to the fact that initial agreement between the PGA and LIV Golf has a broad non-disparagement clause. Blumenthal cited this record in calling out the PGA for selling out for the LIV merger. He and PGA Tour member Jimmy Dunne, who helped broker an initial agreement with LIV Golf, also repeatedly stressed that the PGA felt it had little choice but to try to find as peace with LIV.

Persons: LIV Golf, Democratic Sen, Richard Blumenthal, Blumenthal, Ron Price, Price, Sen, LIV, Prince Mohammed bin Salman, Jamal Khashoggi, Khashoggi, Jimmy Dunne, Ron Johnson, Johnson Organizations: Democratic, Saudi, Service, PGA, Connecticut Democrat, Public Investment Fund, FIFA, Amnesty, MBS, Washington, Wilson, Republican Locations: Saudi Arabia, Wall, Silicon, of Saudi Arabia, Saudi, Qatar

☆ SPECIAL REPORT-Inside the subsea cable firm secretly helping America take on China
▼ + stars: | 2023-07-06 | by ( Joe Brock | ) www.reuters.com time to read: +23 min

Reuters is revealing details of the Diego Garcia project and SubCom’s deepening ties with the Pentagon. SubCom’s loyalty is especially important because it is the only major U.S. subsea cable company. Rather, they carefully obscured the U.S. military component within a larger private-sector cable project, according to four subsea cable industry sources with knowledge of the arrangement. That project, known as the Oman Australia Cable, was spearheaded by SUBCO, a Brisbane-based subsea cable investment company owned by Australian entrepreneur Bevan Slattery. Once the Navy project was complete, AT&T’s submarine cable project morphed into a commercial business, the former employees said.

Persons: Diego Garcia, SubCom, Cerberus, Stephen Feinberg, Donald Trump, Feinberg, Joe Biden, Biden, Eckhard Bruckschen, They’ve, ” Bruckschen, Trump, Brad Smith, –, Mao Ning, ”, Jacob Helberg, Bevan Slattery, SUBCO’s, Richard Payne, Payne, “ We’re, ” Payne, Alex Kerska, Catherine Creese, Creese, David Coughlan, Coughlan, Slattery, SubCom’s Coughlan, Rich, Australia West Express –, John Mariano, Anthony Albanese, Albanese, Caesar, Kellee Wicker, ” Wicker Organizations: CS, SubCom, Google, Microsoft, Meta, ., U.S, Navy, Cerberus Capital Management, U.S . Navy, President’s Intelligence, Board, U.S . Navy’s Pacific Fleet, U.S . Pacific Fleet, U.S ., Pentagon, America Inc, Cable Consultancy, Reuters, Japan’s NEC Corporation, France’s Alcatel Submarine Networks, China’s HMN, U.S . Department of Defense, White, U.S . Department of Justice, Foreign, Oracle, China Economic, Security, Commission, U.S . Department of Transportation, Department of Defense, government’s, Cable Security Fleet, Oman Australia Cable, SUBCO, The, The U.S . Pacific Fleet, SUBCO’s Oman Australia Cable, Facebook, Defense, Intelligence, SubCom’s, London Stock Exchange Group, U.S . Coast Guard, Naval, Cable, Office, Tyco Telecommunications, Australian, Financial, Australia West Express, GoTo Networks, couldn’t, Netflix, AT, Tyco International, Tyco, New, Washington, Science, Technology, Wilson, “ Cables Locations: Diego, Indian, China, New Jersey, United States, U.S, Soviet, Washington, New York, Philippine, South China, Beijing, America, American, Hong Kong, Switzerland, Eatontown , New Jersey, British, Britain, Australian, Australia, Oman, Brisbane, Southeast Asia, The U.S, SUBCO’s Oman, Perth, SubCom, Guam, U.S . Pacific, Republic of Djibouti, of Africa, Djibouti, Sri Lanka, Scotland, Newfoundland

☆ Inside the subsea cable firm secretly helping American take on China
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +24 min

Persons: Diego Garcia, SubCom, Cerberus, Stephen Feinberg, Donald Trump, Feinberg, Joe Biden, Biden, Eckhard Bruckschen, They’ve, ” Bruckschen, Trump, Brad Smith, –, Mao Ning, ”, Jacob Helberg, Bevan Slattery, SUBCO’s, Richard Payne, Payne, “ We're, ” Payne, Alex Kerska, Catherine Creese, Creese, David Coughlan, Coughlan, Slattery, SubCom’s Coughlan, Rich, Australia West Express –, John Mariano, Anthony Albanese, Albanese, Caesar, Kellee Wicker, ” Wicker, Joe Brock, Mohammad Kawoosa, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: CS, SubCom, Google, Microsoft, Meta, ., U.S, Navy, Cerberus Capital Management, U.S . Navy, President’s Intelligence, Board, U.S . Navy’s Pacific Fleet, U.S . Pacific Fleet, U.S ., Pentagon, America Inc, Cable Consultancy, Reuters, Japan’s NEC Corporation, France’s Alcatel Submarine Networks, China’s HMN, U.S . Department of Defense, White, U.S . Department of Justice, Foreign, Oracle, China Economic, Security, Commission, U.S . Department of Transportation, Department of Defense, government’s, Cable Security Fleet, Oman Australia Cable, SUBCO, The, The U.S . Pacific Fleet, SUBCO’s Oman Australia Cable, Facebook, Defense, Intelligence, SubCom’s, London Stock Exchange Group, U.S . Coast Guard, Naval, Cable, Office, Tyco Telecommunications, Australian, Financial, Australia West Express, GoTo Networks, couldn’t, Netflix, AT, Tyco International, Tyco, New, Washington, Science, Technology, Wilson, “ Cables Locations: Diego, Indian, China, New Jersey, United States, U.S, Soviet, Washington, New York, Philippine, South China, Beijing, America, American, Hong Kong, Switzerland, Eatontown , New Jersey, British, Britain, Australian, Australia, Oman, Brisbane, Southeast Asia, The U.S, SUBCO’s Oman, Perth, SubCom, Guam, U.S . Pacific, Republic of Djibouti, of Africa, Djibouti, Sri Lanka, Scotland, Newfoundland

☆ China can gain leverage over Russia during SCO summit: Wilson Center
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina may be able to gain more leverage over Russia during SCO summit, says Wilson Center analystChina may be able to gain more leverage over Russia as the Kremlin becomes more dependent on Beijing, says Michael Kugelman, a deputy director at Wilson Center, when asked about what to expect at the virtual summit of the Shanghai Cooperation Organization.

Persons: Michael Kugelman Organizations: China, SCO, Wilson Center, Shanghai Cooperation Organization Locations: Russia, Beijing

WASHINGTON, June 21 (Reuters) - Rights advocates in Washington demanded that President Joe Biden publicly call out what they described as India's deteriorating human rights record, saying the U.S. approach of raising the issue in private with Prime Minister Narendra Modi has been a failure. In a press briefing on Wednesday, activists and academics also called for hearings in the U.S. Congress about human rights in India under the Hindu nationalist Bharatiya Janata Party (BJP) led by Modi, who is on a four-day visit to the United States. Critics of the Modi government's human rights record have cited less press freedom, restrictions on minority religious rights and other forms of discrimination and backsliding on democratic rights. The White House may bring up human rights concerns but it said that Biden will not "lecture" Modi on the issue. Reporting by Kanishka Singh in Washington; editing by Heather Timmons and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Narendra Modi, Modi, Nadine Maenza, Biden, Zaki Barzinji, Barack Obama, Angana Chatterji, Ilhan Omar, Rashida, Bernie Sanders, Critics, Kanishka Singh, Heather Timmons, Grant McCool Organizations: Rights, U.S, Congress, Bharatiya Janata Party, BJP, ., Wilson Center, International, Critics, White, University of California, U.S . Congress, World Press, 161st, Thomson Locations: Washington, U.S, India, United States, Berkeley, Karnataka

☆ 'Hell of a job': Biden's reaction and 5 other takeaways from Blinken's trip to China
▼ + stars: | 2023-06-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

Leah Millis | Afp | Getty ImagesU.S. President Joe Biden said Secretary of State Antony Blinken "did a hell of a job" in Beijing. His comments came after Blinken's high-profile diplomatic mission to China, aimed at soothing strained ties with Beijing. In a surprise meeting, Blinken met Chinese President Xi Jinping for a 35-minute meeting toward the end of his two-day visit. He is the highest-level American official to visit China in nearly five years. Here are other takeaways from Blinken's trip to China:Progress madeBiden wasn't the only one who saw progress in the talks.

Persons: Antony Blinken, Xi Jinping, Leah Millis, Joe Biden, Biden, Blinken, Wang Yi, Qin Gang, Xi, Blinken's, Qin, Mark Hannah, Hannah, Bonnie Gasler, Gasler, Wang, Robert Daly, Wilson, Daly, Taiwan Blinken, CNBC's Organizations: of, People, Afp, Getty, Beijing, U.S, U.S . State Department, State Department, Eurasia Group Foundation, CNBC, German Marshall Fund, Tech, China, Institute, East China, Taiwan, Taiwan Relations Locations: Beijing, China, U.S, Bali, Washington, Taiwan, South, East

☆ U.S. and China haven't changed threat assessments of each other, says research organization
▼ + stars: | 2023-06-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. and China haven't changed threat assessments of each other, says research organizationRobert Daly, director of the Wilson Center's Kissinger Institute on China and the United States, says dialogue between the United States and China is "terrific," but there's no sign that the countries are changing their assessments of each other.

Persons: China haven't, Robert Daly, Wilson Organizations: U.S, Institute Locations: China, United States

WASHINGTON, June 16 (Reuters) - U.S. rights groups plan protests next week against Indian Prime Minister Narendra Modi's state visit to Washington over what they call India's deteriorating human rights record, even though experts do not expect Washington to be publicly critical of New Delhi. Washington hopes for closer ties with the world's largest democracy, which it sees as a counterweight to China, but rights advocates worry that geopolitics will overshadow human rights issues. The United States has said its human rights concerns related to India include the Indian government's targeting of religious minorities, dissidents and journalists. In a letter to Biden, Human Rights Watch's Asia Division director Elaine Pearson urged the White House to raise concerns, both publicly and privately, about human rights in India during Modi's visit. Advocacy groups have also raised concerns over alleged human rights abuses under Modi's Hindu nationalist Bharatiya Janata Party (BJP).

Persons: Narendra Modi's, Modi, Joe Biden, Washington, Howdy Modi, Donald Trump, Biden, Elaine Pearson, Donald Camp, Camp, George W, Bush, Antony Blinken, Michael Kugelman, Kanishka Singh, Simon Lewis, Shilpa Jamkhandikar, Don Durfee, Heather Timmons, Alistair Bell Organizations: Indian, Indian American Muslim Council, Veterans, Bethesda African Cemetery Coalition, House, United, Hindu, Amnesty, Human Rights Watch, Asia, Reuters, Biden, State Department, Strategic, International Studies, U.S . State Department, World Press, 161st, Bharatiya Janata Party, BJP, South Asia Institute, Wilson, Thomson Locations: Washington, New Delhi, Peace, China, United States, India, New York, Texas, Gujarat, U.S, Karnataka

☆ Many in Russia's elite no longer believe Putin can win the Ukraine war, report says: 'The best they hope for is that Russia will lose without humiliation'
▼ + stars: | 2023-06-08 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Members of the Russian elite are turning against the Ukraine war, Bloomberg reported. The best they can hope for is a "frozen" conflict or a loss in which Russia isn't humilated, the report said. Five sources told Bloomberg that while no one is willing to "stand up" to Putin over the invasion, belief in his authority has been shaken. Alexandra Prokopenko, a former Russian journalist and central bank advisor, told Bloomberg that "'the best they hope for is that Russia will lose without humiliation." Many in Russia's business and economic elite were targeted by Western sanctions after Russia launched its invasion of Ukraine in February 2022.

Persons: Putin, —, Vladimir Putin, Russia isn't humilated, Kirill Rogov, Alexandra Prokopenko Organizations: Bloomberg, Service, Russia, Wilson Locations: Ukraine, Russia, Russian, Ukrainian

☆ A new law allows Putin to draft Russians via an online portal — even if they don't have an account. It 'brings the digital Gulag much, much closer,' critics say
▼ + stars: | 2023-05-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

A new law allows Russian conscripts to be notified of their military service via government portal. Critics say the move creates "a digital system of social control" akin to a virtual Gulag labor camp. The new conscription law, she wrote, "brings the Digital Gulag much, much closer." What is the Digital Gulag? With the digital registry and harsh punishments for noncompliance, "the government wants to create a digital system of social control by regulating individual access to rights and benefits," Stanovaya wrote.

☆ What Chile's state-led lithium policy means for the future of the electric vehicle industry
▼ + stars: | 2023-05-06 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

The only two lithium companies currently operating in Chile are North Carolina-based Albemarle , the largest lithium producer in the world, and SQM , the No. Chile's lithium is of particular strategic importance to the U.S., which has a free trade agreement with the country but not with neighboring Argentina. The plan calls for the creation of a national lithium company to partner with all private businesses looking to enter the sector. Bags of battery-grade lithium carbonate at La Negra, Albemarle's lithium processing plant near Antofagasta, Chile. Lenny-Pessagno told CNBC in January that Albemarle supports the creation of a state-owned lithium company.

☆ India constructs world's highest railway bridge above Chenab River in Jammu and Kashmir region
▼ + stars: | 2023-05-02 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +5 min

CNN —India is now home to the world’s tallest railway bridge. Some 35 meters (over 10 feet) taller than the Eiffel Tower, the Chenab Bridge sits 359 meters (around 109 feet) above the Chenab River in India’s contentious Jammu and Kashmir region. The 1,315 meter-long (4,314 feet) bridge is part of a broader project to make the Kashmir Valley accessible by the Indian Railway network. In addition to the Chenab Bridge, the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project involves what will become the country’s longest transportation tunnel and Indian Railways’ first cable bridge. “Once we will be connected by train with the rest of India, it will be a big boost to this industry, agriculture as well as fruit.”The Chenab bridge is part of efforts to link Kashmir with the rest of India.

☆ Analysis: Calls for South Korean nuclear arsenal unlikely to fade despite US deal
▼ + stars: | 2023-04-27 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

"Domestic politics could distort the incentives South Korean leaders face when it comes to limiting their nuclear options over the long run." Nuclear expert Siegfried Hecker warned in January there could be disastrous downsides to Seoul acquiring its own nuclear weapons. The United States once stationed hundreds of tactical nuclear weapons in South Korea and has made other agreements to reassure Seoul. Choi Il, a retired South Korean submarine captain, told Reuters that South Korea's fundamental answer to the growing North Korean threat remains unchanged. "If you strike us with nuclear weapons, then we will strike back with our own."

☆ Argentina's lithium pipeline promises 'white gold' boom as Chile tightens control
▼ + stars: | 2023-04-24 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

Neighboring Chile, the region's top lithium producer, last week unveiled plans for a state-led public-private model, spooking investors. Bolivia has long maintained strict control over its huge though largely untapped resources, while Mexico nationalized its lithium deposits last year. The country has six lithium projects under construction and 15 in the advanced exploration or feasibility stage, Mignacco said. "Argentina's lithium sector has thrived through a decentralized, pro-market strategy," said Benjamin Gedan, director of the Latin America program at The Wilson Center, adding in contrast Bolivia's lithium sector had "repeatedly stalled as a result of excessive state control." "Chile today produces and exports much more lithium than Argentina," said Natacha Izquierdo, analyst at consultancy ABCEB.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

☆ Moscow is trying to play it cool, but its military moves hint at growing concern over NATO's newest member
▼ + stars: | 2023-04-06 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Finland's admission this month doubles the length of NATO's border with Russia and does so in a region with important Russian military outposts. But Putin's invasion of Ukraine scared not only Finland into joining NATO but also Sweden, which hasn't fought a war since Napoleon was alive. This boosts the alliance's military, political, and economic power considerably and confronts Russia with the prospect of even more NATO forces on its border. There is the possibility of NATO forces and infrastructure being deployed to those countries. Russia's Arctic forces also field an array of powerful weapons, including submarine- and land-based cruise missiles and air-launched hypersonic weapons.

The Chinese Embassy in Washington called self-ruled Taiwan "an inalienable part of China" and said the one-China principle was an "overwhelming trend" internationally. When Taiwan temporarily averted a split with Honduras after President Xiomara Castro took office in January 2022, U.S. State Department officials remained wary. The Biden administration is also keeping a close eye on tiny Belize for any cracks in its Taiwan relationship. Two U.S. officials said Washington was putting less stock in Taiwan maintaining its diplomatic allies in favor of efforts to increase its participation in international organizations. While denied a seat in the United Nations, Taiwan is a member of the WTO and the Asia-Pacific Economic Cooperation forum.

The Arctic Council was created in 1996 to discuss issues affecting the polar region, ranging from pollution to local economic development to search-and-rescue missions. The Arctic Council comprises the eight Arctic states of Russia, the United States, Canada, Finland, Norway, Iceland, Sweden and Denmark. Russia's possible degree of involvement with the Council once Norway takes over is still unclear. Russian Foreign Minister Sergei Lavrov had earlier extended an invitation to Arctic officials to attend a transition ceremony in Salekhard, Siberia. Russian Arctic Ambassador Nikolay Korchunov, chair of the Senior Arctic Officials on the council, told Reuters the transition would "presuppose active and responsible participation of all Arctic Council member states in this preparatory process."

[1/4] A Japanese flag flutters atop the Bank of Japan building under construction in Tokyo, Japan, September 21, 2017. "This is a problem that is not going to change easily," said Momoko Nojo, a prominent campaigner for gender equality in Japan. The BOJ ranked 142nd of 185 central banks on gender equality, according to a report last year by the Official Monetary and Financial Institutions Forum. About 11% of central banks surveyed had a female governor, a record high, while 37% had female deputy governors. That target is far below the European Central Bank, where women hold 30% of management roles.

It was totally avoidable.”Now, Bolsonaro is in Orlando, where he has supporters among the state's growing number of Brazilian Americans. After Bolsonaro's loss, unfounded claims of election fraud, reminiscent of those in the U.S., began to surface in Brazil. Bannon had said prior to the Brazilian election that Bolsonaro would lose only if “the machines” steal the election. Leading to the presidential elections in Brazil, Trump allies exported many of the former president's campaign strategies to the Latin American country. After Bolsonaro's October loss, tens of thousands of supporters began camping outside military facilities throughout Brazil to protest his loss.

But other potential Chinese investors were less sure. Most investors had decided to head home ahead of Chinese New Year, said Yu. GUNFIRE, PANICNews of the hotel attack spread fast to the investors running China Town - a cluster of 10-storey blocks about 20 minutes drive away, overlooked by snow-topped mountains. After security forces secured the hotel, Yu got through to some of the guests by phone. In all, about 35 Chinese investors were in the hotel, he said - about a third of the number he estimated were in Afghanistan at the time.

HONG KONG — Xi Jinping secured a historic third term as leader of China on Sunday, cementing his status as the country’s most powerful figure in decades and extending his authoritarian rule over the world’s second-largest economy. The Chinese leader Deng Xiaoping introduced the limit in 1982 to prevent a return to a Mao-style cult of personality. The Chinese leader reiterated the goal of peaceful “reunification,” without renouncing the possible use of force. “Xi still promises no specific timeline on unification.”But the Chinese leader did put greater emphasis on warning “external forces” to stay out of the Taiwan issue. A telecast of Chinese President Xi Jinping plays on a screen in Hong Kong on Monday.

☆ The US Coast Guard's biggest ship made a rare trip to the North Pole amid warnings about Russian and Chinese moves in the Arctic
▼ + stars: | 2022-10-23 | by ( Christopher Woody | ) www.businessinsider.com time to read: +7 min

US Coast Guard icebreaker Healy made a rare trip to the North Pole at the end of September. Healy is one of only two icebreakers operated by the Coast Guard, and both of them are aging. Kenneth Boda, said in a release, calling it a "rare opportunity" and "a highlight of our Coast Guard careers." "This includes expanding the US Coast Guard icebreaker fleet to support persistent presence in the US Arctic and additional presence as needed in the European Arctic," the document adds. (The icebreaker Polar Sea, built alongside Polar Star, has been nonoperational since 2010 and is used for spare parts.)

ISLAMABAD, Oct 20 (Reuters) - The Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog, starts a two-day meeting in Paris on Thursday and is expected to take up removal of Pakistan from a list of countries under "increased monitoring". In a meeting in June, the FATF said it was keeping Pakistan on the list - also known as the "grey list" - but said it might be removed after an on-site visit to verify progress. Register now for FREE unlimited access to Reuters.com RegisterHere are some key points:WHAT WOULD IT MEAN FOR PAKISTAN? If removed from the list, Pakistan would essentially receive a reputational boost and get a clean bill of health from the international community on terrorist financing. Removal from the FATF list would provide Pakistan a boost after the country's sovereign credit rating was downgraded by Moody's.

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