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☆ A self-made millionaire in China who never went to college just took the country's grueling college entrance exams for the 27th time — and failed again
▼ + stars: | 2023-06-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Liang Shi, 56, has failed China's intense college entry exam for the 27th time, per AFP. The self-made millionaire who started taking the test in 1983 harbors dreams of going to university. After all, the former factory worker has his own construction materials business and is a millionaire, per AFP. "It's an uncomfortable thought that I didn't manage to get a college education," Liang told AFP earlier this month. "It's hard to say whether I will keep on preparing for the next year," he told AFP.

Persons: Liang Shi, He's, —, It's, Liang, gao kao, Matthew Loh, Liang's, he'll Organizations: AFP, Service, ACT, AP Locations: China, AFP, Sichuan

Liang took the grueling two-day exam, known as the “gaokao,” in early June alongside nearly 13 million students nationwide. Students’ exam results are their only criteria for college admission – and most candidates only get one shot, with the test happening once a year. “It may be a little difficult if I want to go to a good university this year,” he said in the video. He’d even accepted that Sichuan University might be out of reach, deciding to attend any “key university” that would accept him. Ahead of this year’s test, many students visited temples to light incense and pray for good results.

Persons: Liang Shi, Liang, ”, he’s, “ I’m, livestream, “, He’d, master’s Organizations: Hong Kong CNN, Sichuan University, China Daily Locations: Hong Kong, ”, Sichuan, China, Nanjing

☆ Egypt and India bolster ties as Modi makes first trip to Cairo
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +2 min

[1/5] Egypt's President Abdel Fattah El-Sisi meets with Indian Prime Minister Narendra Modi at the Ittihadiya presidential palace in Cairo, Egypt June 25, 2023. The Egyptian Presidency/Handout via REUTERSCAIRO, June 25 (Reuters) - Egypt and India discussed strengthening ties in areas including trade, food security and defence during a state visit to Cairo by Indian Prime Minister Narendra Modi, the two countries said on Sunday. On his first trip to Egypt, Modi met Egyptian President Abdel Fattah al-Sisi and Egyptian ministers appointed to an "India unit" after a state visit by Sisi to India in January during which a "strategic partnership" was announced. India is seen as keen to boost ties with Egypt partly to secure trade through the Suez Canal. Modi, a Hindu nationalist, has rarely made public visits to mosques as prime minister.

Persons: Abdel Fattah El, Narendra Modi, Modi, Abdel Fattah al, Sisi, Al Hakim, Mohamed Waly, Rajesh, Jyoti Narayan, Shivani, Aidan Lewis, Ros Russell Organizations: Indian, REUTERS, Global, Reuters, Thomson Locations: Cairo, Egypt, REUTERS CAIRO, India, Sisi, Suez, Gujarat

☆ Exclusive: How this under-the-radar VC landed a $27 million third fund and bets in some of the buzziest startups like Jasper and Motherduck
▼ + stars: | 2023-06-21 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +5 min

Essence VC has raised its third fund of $27 million from LPs like Cendana and Sapphire Ventures. The fund has bet on buzzy startups like generative AI darling Jasper and a16z-backed Motherduck. And now, his firm Essence VC has just raised its $27 million third fund. The latest fund, backed by VC firms and funds of funds including Cendana Capital, Vintage Investment Partners, Sapphire Ventures, Level Ventures, and Crossover, follows a $7 million and $1 million fund. However, the "first-mover advantage" for startups also holds true in the land of VC, Chen says.

Persons: Jasper, Tim Chen, you've, Liz O'Sullivan, Vera, Chen, Scott Shi, —, Chi Zhang, Tim, Zhang, funder Chen, Christos Kozyrakis, Michael Huang, They're, it's, Ben Van Roo, Van Roo, Chen wasn't Organizations: Sapphire Ventures, Cendana, Vintage Investment Partners, Level Ventures, Founders, Stanford, Cloudera, Google Locations: a16z

☆ Founders and VCs are clamoring to get into this $68 million AI hacker house. Here's how the AGI House exploded into a community hub for the red-hot Bay Area AI scene.
▼ + stars: | 2023-06-21 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +8 min

In February, the AGI House launched as a community hub for the buzzy Bay Area AI scene. Since launching in February this year, it's served as a hacker house and community hub for the Bay's exploding AI scene. Depending on the day, the residence houses between eight to ten AI founders and researchers, including a researcher from AI giant OpenAI. Stephanie PalazzoloFrom flying cars to fireside conversationsThe AGI House wasn't always the AGI House. "It's great to live in a community house where you're naturally connected to the AI founder community," she said.

Persons: Steve Jobs, Elon, it's, Demi Guo, Stephanie Palazzolo, wasn't, Andrej Karpathy, Rocky Yu, Karpathy, Sergey Brin, Kelly Peng, Yu, Jeremy Nixon, Tim Shi, Lerer Hippeau, Peng, Guo, There's, Greylock's, Corinne Riley AGI, they're Organizations: AGI, Technologies, Genesis, Foundation Capital Locations: buzzy, Hillsborough, Stanford, Alamo, LA, AGI, New York City, Stanford's

Universal’s “The Super Mario Bros.” movie and Sony’s “Spider-Man: Across the Spider-Verse,” both animated films, have racked up big ticket sales this year. The successes of "Super Mario Bros." and "Spider-Man" also reflect a new post-COVID-19 trend at box offices, Hollywood insiders say. In his book, “Creativity, Inc.,” Pixar co-founder Ed Catmull credited Pixar's brain trust with the studio’s early box-office triumphs. Catmull and other members of the original brain trust are gone, though Docter remains, now in the role of chief creative officer. During the pandemic's peak, when many cinemas were closed, Disney launched three Pixar films directly to Disney+_in the U.S., bypassing theaters.

Persons: ”, Universal’s, Mario, Tony Chambers, Disney's, don’t, Chambers, DreamWorks Animation’s, “ Ruby Gillman, Tom Sito, King, Sito, Jeff Bock, Ed Catmull, — John Lasseter, Andrew Stanton, Pete Docter, Lee Unkrich, Joe Ranft —, Docter, Domee Shi, Soul’s ’ Kemp Powers, Pixar’s, Brad Bird, Oscar, “, Darla K, Anderson, “ Coco ”, Bob Chapek, there’s, we’ve, ” Docter, it’ll, Dawn Chmielewski, Lisa Richwine, Kenneth Li, Jonathan Oatis Organizations: Pixar, Inc, Walt Disney, Universal Studios, DreamWorks, University of Southern, Netflix, Disney, Apple, Relations, Thomson Locations: ANGELES, U.S, Canada, Disney, University of Southern California, ”

☆ Lebanon’s top Christian cleric slams failed attempt to elect a president
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, June 18 (Reuters) - Lebanon’s top Christian cleric said on Sunday the constitution and democratic system had been violated in "cold blood" during a failed attempt to elect a new president last week, and warned that divisions in the nation had widened. Patriarch Bechara Boutros al-Rai spoke in his first sermon since the Iran-backed Shi'ite group Hezbollah and its closest allies thwarted an attempt by factions including the main Christian parties to elect an IMF official as president. Wednesday's events marked the 12th time parliament failed to elect someone to the post - reserved for a Maronite Christian in Lebanon's sectarian system and vacant since the term of the Hezbollah-allied Michel Aoun ended in October. The Hezbollah-allied Parliament Speaker Nabih Berri ended the session when Hezbollah and its allies withdrew, denying a quorum for a second round when 65 votes are needed to win. Without naming him, Lebanon's Shi'ite mufti accused him of being backed by Israel.

Persons: Bechara Boutros, Rai, Michel Aoun, Jihad Azour, Amal, Azour, Suleiman Frangieh, Nabih Berri, Elias Audi, Berri, Maya Gebeily, Tom Perry, Hugh Lawson, Frances Kerry Organizations: Hezbollah, Maronite, Israel, Thomson Locations: BEIRUT, Iran, Israel, Lebanon

The Michelin Guide added 17 food stalls and two restaurants in Singapore to its Bib Gourmand list this week. In total, 79 dining establishments in the city-state were named to the list, an increase from 67 last year. The Bib Gourmand category recognizes inexpensive dining establishments, which are selected by anonymous inspectors, according to a company press release. Three more stalls are in Adam Food Center — Adam Rd Noo Cheng Big Prawn Noodle, Bahrakath Mutton Soup and Selamat Datang Warong Pak Sapari, which is known for its Malay noodle dishes, according to Michelin. The complete selection of Michelin-starred restaurants in Singapore will be announced on June 27 at an awards ceremony.

Persons: Kok Sen, nasi lemak, Du Du Shou Shi, Heng Kee, De, Heng, Fried, Huat, Chun, Wei Chilli Ban, Cheok Kee, Adam, Noo Organizations: Michelin, Coconut, Geylang Bahru Market, Food Center, Adam Food Locations: Singapore, Geylang

Neither Azour nor Hezbollah-backed candidate Suleiman Frangieh came close to winning the 86 votes needed to win in a first round vote. Azour, the IMF's Middle East Director and an ex-finance minister, won the support of 59 of 128 lawmakers. Hezbollah and its allies then withdrew from the session, denying the two-thirds quorum required for a second vote in which 65 votes are enough for victory. Azour thanked lawmakers who backed him, saying he hoped the will expressed by "the majority of deputies" would be respected. George Adwan, a Christian lawmaker with the anti-Hezbollah Lebanese Forces party, said the vote was "a major victory" because it showed Azour close to 65 votes.

Persons: Gebran Bassil, Azour, Suleiman Frangieh, Frangieh, Nabih Berri, Michel Aoun, Hussein al, Haj Hassan, Bashar al, Assad, George Adwan, Mohamed Azakir, Matthew Miller, Miller, Mohanad Hage Ali, Riad Salameh, Sheikh Ahmad Qabalan dialled, Issam Abdallah, Simon Lewis, Tom Perry, John Stonestreet, Mark Heinrich, William Maclean Organizations: BEIRUT, Hezbollah, IMF, Maronite, Hezbollah Lebanese Forces, REUTERS, U.S . State Department, Carnegie Middle East Center, West, Thomson Locations: Lebanon, Iran, Muslim, Saudi Arabia, Lebanese, Yemen, Beirut, Washington, U.S, United States, Israel, Damascus

☆ A political drama series on Netflix has sparked a #MeToo wave in Taiwan
▼ + stars: | 2023-06-14 | by ( Reena Koh | ) www.businessinsider.com time to read: +4 min

The Taiwanese Netflix political drama "Wave Makers" has sparked a #MeToo wave in Taiwan. It triggered a series of sexual assault allegations that have rocked Taiwan's political scene. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA new Taiwanese political drama series on Netflix that premiered on April 28 has sparked a #MeToo wave in Taiwan. This line threw open the floodgates to a wave of sexual assault allegations. As part of the #MeToo wave, Chien also came forward with her own sexual assault story in a Facebook post on June 2.

Persons: —, Let's, Chen Chien, Chen, Hsu Chia, Chen Mei, Yan Chih, Lin Nan, Tsai Mu, Hsu, Tsai Ing, Tsai, Chien Li, Chien, Yan Shi, Lin Chun Organizations: Netflix, Service, Washington Post, Democratic Progressive Party, China Morning, University Locations: Taiwan, Washington, China

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

☆ Subway plans to open nearly 4,000 stores in China in one of its biggest deals ever
▼ + stars: | 2023-06-07 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Subway is planning to add thousands of new sandwich shops in China, increasing its footprint in the country by more than seven times. The world’s biggest sandwich chain announced Tuesday that it would open almost 4,000 new stores across mainland China over the next 20 years. The deal “is the largest master franchise agreement in Subway history and one of the largest across the entire [fast-food restaurant] industry,” Subway said in a statement. The large-scale expansion will be made possible by a deal Subway has inked with a Chinese company, Shanghai Fu-Rui-Shi Corporate Development (FRS). A 5-meter-long Subway sandwich seen in Shanghai on May 30.

Persons: Shanghai Fu, John Chidsey, Chase Organizations: Hong Kong CNN —, ”, Corporate, Subway, Publishing, ” Subway Global, JPMorgan Locations: Hong Kong, China, Shanghai, United States, Asia Pacific

NEW YORK, June 6 (Reuters) - Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. Other companies are also beefing up their presence in China, including Starbucks, which plans to open 3,000 new stores there by 2025. Subway's deal with master franchisee Shanghai Fu-Rui-Shi Corporate Development Co Ltd (FRS) is the largest such agreement in Subway's history. FRS will get exclusive rights to manage and develop all Subway locations in China. "China is a key market with significant long-term growth opportunity, and we look forward to bringing the Subway experience to even more guests in the region," Subway Chief Executive John Chidsey said in a statement.

Persons: John Chidsey, Hilary Russ, Lincoln Organizations: YORK, Starbucks, Shanghai Fu, Corporate Development Co, Asia Investment Capital, Thomson Locations: China, U.S

Questioned after his speech on the incident, Li said the US naval presence in the strait was an example of Washington creating chaos in the region. “They are not here for innocent passage, they are here for provocation,” Li said of US warships. Li said if the US and other foreign powers did not want confrontation, they should not send their military assets near China. The incident is the second time in two weeks that Chinese military personnel have engaged in aggressive maneuvers in the vicinity of US military personnel near China’s border. US and Chinese defense chiefs are not expected to meet this year – a mark of the depth of the fracture in relations between the two countries.

Persons: Li Shangfu, ”, Lloyd Austin, Li, ” Li, USS Chung, Hoon, Arleigh Burke, “ Chung, “, Chung, Paul Mountford, Shi Yi, Austin, ” ‘, General Jing Jianfeng, ” China’s, Xi Jinping, Jing Organizations: Singapore CNN —, US, Canadian, Pacific Command, USS, Canada’s Global, PLA, East China Seas, Command, Taipei’s Defense, Chinese Communist Party, People’s Liberation Army, CCTV, Communist Party, Taiwan Locations: Singapore, United States, Washington, China, Taiwan, Canadian, Montreal, South, East, China’s, Beijing, “, Austin

☆ Lebanese Christian and opposition coalition nominate IMF's Azour for president
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, June 4 (Reuters) - Lebanon's disparate opposition, independent and main Christian parties said on Sunday they had nominated IMF official Jihad Azour for the presidency in a challenge to Hezbollah-backed candidate Suleiman Franjieh. A meeting of the parties endorsed the nomination of Azour, currently director of the Middle East and Central Asia Department at the International Monetary Fund and also a former Lebanese finance minister. Pro-Iranian Hezbollah, the country's main armed political force, and its Shi'ite ally Amal, had backed Franjieh, 56, heir of an old Lebanese Christian political dynasty and an ally of Syrian President Bashar al-Assad with strong ties to the ruling political establishment in Damascus. "This new candidate that was announced is for us a candidate for confrontation," Hezbollah deputy Hassan Fadlallah said on Sunday, without naming Azour. Washington has warned that the administration was considering sanctions on Lebanese officials for their continued obstruction of the election of a new president and warned the paralysis could only worsen the country's crisis.

Persons: Azour, Suleiman Franjieh, Michel Aoun's, Amal, Bashar al, Assad, Michel Mouawad, Lebanon's, Beshara al, Rai, “, Hassan Fadlallah, Suleiman Al, Khalidi, Maya Geibeily, David Holmes Organizations: Central Asia Department, International Monetary Fund, Hezbollah, Lebanese Christian, Maronite, Thomson Locations: BEIRUT, East, Lebanese, Lebanon, Damascus, Azour, Syria, Iran, Arab, Washington

☆ Farm animals, crops suffer from extreme weather affecting China
▼ + stars: | 2023-06-02 | by ( Laura He | ) edition.cnn.com time to read: +6 min

This year, extreme heat has ravaged many parts of the country even earlier than last year. Animals killedIn recent days, reports of farm animals killed by extreme heat have dominated the news. The pigs suffocated to death amid extreme heat and poor air circulation, Jimu News, a government-owned news website, cited an unnamed employee at the farm as saying. The heat wave was blamed for killing large numbers of farmed carp living in rice fields in the southwestern region of Guangxi. And more extreme weather events are likely to come.

Persons: Sheng Xia, El, El Niño, ”, Sheng, Wang Gang, Niño, Xi Jinping, Shi Guangming Organizations: Hong Kong CNN, China Meteorological Administration, Citic Securities, “, El, World Meteorological Organization, Qiushi, Communist, Villagers, China Today, China Media Group Locations: Hong Kong, China, Yunnan, Sichuan, El, Shanghai, Beijing, Jiangsu, Guangxi, Henan, Pingdingshan, Henan province, Xinjiang

Data showed Chinese temple visits more than quadrupled this year compared with 2022, while sales of lottery tickets jumped in April to their highest in a decade. In stark contrast, the youth unemployment rate hit a record 20.4% in April, and multiple indicators showed economic recovery is losing steam following an initial bounce after China lifted its zero-COVID policy. "The surging stocks reflect a major macro-economy change this year - rising youth employment pressure," said Shi Pengfei, consumer analyst at Beijing-based Spring Capital. "I don't expect the youth unemployment rate to see an inflection point soon as the graduation season approaches," he said. China's main stock benchmark (.CSI300) has handed back most gains since last November after a reopening rally and is down 1% year-to-date, as the economic recovery missed expectations and geopolitical tensions rose.

Persons: Shi Pengfei, Jason Xue, Tom Westbrook, David Holmes Organizations: Investors, Shan Tourism Co, Development, China Sports Industry Group, Thomson Locations: SHANGHAI, SINGAPORE, China, Anhui, Beijing, Shanghai, Singapore

☆ Analysis: Struggling China local governments find a fundraising loophole, lifeline in "pearl bonds"
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, May 31 (Reuters) - China's cash-strapped local governments have suddenly rushed to an unusual corner of the debt market in Shanghai where ambiguous rules offer ways to skirt restrictions on onshore borrowing. LGFVs accounted for about two-thirds of the issuers and 60% of the debt sold this year nation-wide, according to Reuters' calculations. Among all the newly-issued FTZ bonds this year, 55, or two-thirds of all 82 issuers, were LGFVs, according to Reuters' calculations. The "pearl" or free trade zone (FTZ) bonds have been around since 2016 but are only now becoming popular as tighter central government supervision on LGFV debts starts to bite. AMBIGUOUS POSITIONING"Pearl bonds" differ from other offshore bonds as trades are cleared by the state-owned China Central Depository & Clearing Co, rather than a global clearing house.

Persons: Shi Xiaoshan, Fitch, Royston Quek, Tim Fang, Pearl, Zhang Hong, Georgina Lee, Tom Westbrook, Kim Coghill Organizations: U.S, Haitong International Securities, China Central Depository, Industrial, Group, Credit Agricole CIB, Shanghai Pudong Development Bank, Bank of Communications, Pudong New, Financial, Reform Commission, Reuters, The, Administration of Foreign Exchange, Shanghai, Thomson Locations: SHANGHAI, HONG KONG, Shanghai, Beijing, U.S . Federal, Hong Kong, China, Zhejiang, Pudong, SINGAPORE

☆ Iran's Khamenei welcomes better ties with Egypt - state media
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

[1/4] Iran's Supreme Leader Ayatollah Ali Khamenei meets with Oman's Sultan Haitham bin Tariq in Tehran, Iran May 29, 2023. Office of the Iranian Supreme Leader/WANA (West Asia News Agency) via REUTERSDUBAI, May 29 (Reuters) - Iran's Supreme Leader Ayatollah Ali Khamenei said in a meeting with Oman's Sultan that Tehran welcomes better diplomatic relations with Egypt, Iranian state media reported on Monday. Relations between Egypt and Iran have often been fraught in recent decades although the two countries have maintained diplomatic contacts. Khamenei's comments came as Middle Eastern countries including Egypt are taking steps to ease regional tensions. In March, regional rivals Sunni Saudi Arabia and Shi'ite Muslim Iran ended years of hostility and agreed to restore diplomatic relations under a China-mediated deal.

☆ Factbox: Then and now: How Arab states changed course on Syria
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +6 min

May 19 (Reuters) - President Bashar al-Assad's attendance at an Arab Summit in Saudi Arabia on Friday is the result of big policy shifts by Arab states that once backed his opponents in Syria's civil war. The support was a point of rivalry with another Gulf Arab state, Qatar, which backed Islamist groups espousing ideologies viewed with suspicion by Riyadh. It also worked with the United States in a programme to support rebels deemed moderate by Washington. As some Arab states changed course on Assad, notably the United Arab Emirates, Saudi Arabia showed no sign of bringing him in from the cold. Like other Arab states, Saudi Arabia is also expecting Assad to curb the trade in narcotics smuggled out of Syria.

☆ Sexual harassment debate breathes new life into China’s #MeToo movement
▼ + stars: | 2023-05-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Shi has strongly denied the accusations of sexual harassment in two separate statements and claimed the encounters were consensual. The falloutThe allegations have since sparked furious debate on Chinese social media, with related hashtags trending for days and racking up hundreds of millions of views on Weibo. China did not specify sexual harassment as a legal offense until 2021, when it enacted a civil code defining sexual harassment for the first time in the country’s law. But still, the failure of sexual harassment lawsuits – like Zhou’s – in recent years has made it “increasingly clear that seeking legal remedies for sexual harassment is not realistic,” said the Chinese feminist in New Jersey. “Even if I reported it, and he was summoned to the police station, how many days can he be detained for sexual harassment?” she wrote.

Long stuck in the shadow of Erdogan and his Islamist-rooted AK Party (AKP), opposition leader Kilicdaroglu has flourished on the campaign trail with polls showing he has a slight lead. Kilicdaroglu said a fundamental problem of Turkey's foreign policy during the tenure of Erdogan's AKP was the exclusion of the foreign ministry in the policy making process. 'PEACE-ORIENTED FOREIGN POLICY'"We would pursue a peace-oriented foreign policy that prioritises Turkey's national interest. Before entering politics, Kilicdaroglu worked in the finance ministry and then chaired Turkey's Social Insurance Institution for most of the 1990s. A year after losing a mayoral run in Istanbul, he was elected unopposed as party leader in 2010.

☆ Arabs bring Syria's Assad back into fold but want action on drugs trade
▼ + stars: | 2023-05-09 | by ( Maya Gebeily | ) www.reuters.com time to read: +6 min

Hezbollah, which deployed fighters to Syria to aid Assad's war efforts, has denied any role in the drugs trade. Aided by Iran and Russia, Assad steadily beat back his rebel enemies, some of whom had support from U.S.-allied Arab states that have now restored ties. The United States, United Kingdom and European Union have all placed new sanctions on Damascus in recent weeks over captagon. The United States has said it will not normalize ties with Assad and its sanctions remain in full effect. "I would put ending the captagon trade right at the top alongside the other issues", she said.

☆ Analysis: Arabs bring Syria's Assad back into fold but want action on drugs trade
▼ + stars: | 2023-05-09 | by ( Maya Gebeily | ) www.reuters.com time to read: +6 min

While denying any role in the trade, for which Syrian officials and Assad relatives have faced Western sanctions, Damascus has sought leverage from the issue. Hezbollah, which deployed fighters to Syria to aid Assad's war efforts, has denied any role in the drugs trade. Aided by Iran and Russia, Assad steadily beat back his rebel enemies, some of whom had support from U.S.-allied Arab states that have now restored ties. The Syrian source confirmed Riyadh had proposed a sum that would be paid as humanitarian aid, but could not say how much. "I would put ending the captagon trade right at the top alongside the other issues", she said.

Capvision said in a statement soon after the broadcast that it would resolutely abide by national security rules. The CCTV report was the first clear indication of the national security scope of recent police action against several consulting firms. "The state security organ and other authorities will intensify law enforcement against activities that endanger national security, such as illegal consulting," the state-owned Global Times said. The revisions will see all documents, data, materials and items "related to national security and interests" given the same protection as state secrets. The law does not define China's national security or interests.

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