A Monument in the Sands: Africa’s Tallest Building Rises Amidst Vast Emptiness Under the expansive skies of Northern Egypt, a marvel of modern architecture is steadily taking shape. The Iconic Tower, soon to stand as Africa’s tallest edifice, pierces the horizon in a landscape yet to teem with life. Nestled beneath this architectural giant lies Egypt’s "New Administrative Capital," a city designed with the ambition to ultimately accommodate 6.5 million inhabitants. For now, it remains largely uninhabited, a silent sentinel in a terrain that echoes the desolation of the desert it supersedes. This ambitious urban project is but a fragment…
Author: BRICS+ News Services
Global Economic Trends Amid Turbulence: A Comprehensive Analysis In the midst of global economic instability, several pivotal trends have surfaced, underscoring the complexities of current fiscal dynamics. In the United States, inflation rates have remained stubbornly high, compelling the Federal Reserve to uphold current interest rates. Economic projections, however, indicate that rate cuts may be on the horizon by the close of 2024. This approach is seen as a strategic move to manage inflation and mitigate potential economic downturns, building on historical patterns such as the post-2008 financial crisis era when the Fed employed similar tactics. Across the Atlantic Ocean,…
On Monday, June 24, the Council of the European Union enacted a 14th series of economic and individual restrictive measures against Russia, aimed at further destabilizing the Putin regime and its ongoing, unauthorized aggression toward Ukraine. These actions seek to undercut critical sectors of the Russian economy, particularly in energy, finance, and trade, thereby complicating any attempts to circumvent EU-imposed sanctions. EU High Representative Josep Borrell emphasized the unified front of the European Union in its support for Ukraine: "Our sanctions have already significantly weakened the Russian economy and prevented Putin from carrying out his plans to destroy Ukraine, even…
Thailand Embarks on BRICS Membership Journey, Signals Shift in Economic Strategy Recent developments reveal that Thailand has officially applied for membership in the BRICS consortium, as reported by Reuters. This strategic move occurs alongside Thailand’s involvement in the mBridge cross-border central bank digital currency (CBDC) project initiated in collaboration with Hong Kong and other BRICS nations such as China, the UAE, and Saudi Arabia. Though Hong Kong is a special administrative region of China, it remains distinct in its economic operations. The mBridge initiative, managed under the Hong Kong BIS Innovation Hub, recently unveiled a minimum viable product (MVP) aimed…
A new wave of economic tensions has emerged between China and the European Union, threatening to destabilize global trade dynamics. This escalation follows the EU’s proposed tariffs on Chinese electric vehicles (EVs), prompting warnings from China about the potential onset of a trade war. Escalation of Trade Frictions China has vehemently criticized the European Union’s recent decision to impose tariffs on Chinese electric vehicles. A spokesperson for China’s Ministry of Commerce cautioned that such measures might lead to a trade war, stating that “the responsibility would lie entirely with the European side.” The EU’s proposed high tariffs on Chinese EV…
South Africa’s Mineral Wealth and the Future of Energy: A Nation at the Crossroads South Africa, a land rich in history and abundant in natural resources, holds some of the world’s largest reserves of coal, gold, manganese, and platinum. However, the contemporary significance of its mineral wealth, especially the so-called “critical” minerals and metals essential for the global energy transition, is drawing renewed attention. Despite ongoing debates around which minerals can be termed critical, they are generally understood to be those natural resources indispensable for the shift from fossil fuels to renewable energy sources. Central to this transition are technologies…
Economic Concerns Dominate as Stock Market Faces Serious Recession, says Pourmohammadi Tehran, October 10, 2023 (Iran Press) – Mostafa Pourmohammadi, addressing a televised debate, revealed startling figures about the economic anxieties gripping the nation. “More than 70% of people have economic concerns,” Pourmohammadi stated, acknowledging the pervasive unease that echoes the sentiments felt during historical economic downturns. Highlighting the pivotal role of production in economic growth, Pourmohammadi emphasized, “The infrastructure of economic growth is embedded in production, and the production index is the capital market and stock exchange.” Drawing parallels with previous administrations, he criticized the performance of the 13th…
Nationwide Strike by Environmental Workers Intensifies, Jeopardizing Brazil’s Ecological Oversight Federal employees of environmental agencies and the Environment Ministry in five states intensified their industrial action on Monday by joining a full strike. This move comes on the heels of a series of partial strikes that commenced at the beginning of the year, significantly disrupting the nation’s ecological oversight. The newly affected areas include Acre, Pará, Paraíba, Rio Grande do Norte, and the federal capital, Brasília. Ascema, the union representing public environmental workers, informed The Brazilian Report that only essential activities will be maintained during the strike. Since January, members…
Taiwan Legislative Overhaul Spurs Controversy: Opposition Accuses Government of Double Standards In a move reminiscent of the extensive oversight exercised by the US Congress, new legislation in Taiwan has granted lawmakers significant powers to scrutinize the executive branch. These measures empower deputies to request information and documentation from government agencies, the military, and other entities, stirring a significant political debate. Crucially, the legislation mandates that the president deliver an annual address on the state of the island, followed by a question and answer session with lawmakers—a provision that Vice President William Lai has deemed unconstitutional. On Tuesday, Ko Wen-je, leader…
A significant demonstration took place in Mekelle, organized by women demanding an immediate end to violence against women in the region. The protestors passionately called for justice for victims of sexual violence, kidnappings, and other forms of abuse. This event drew attention to the longstanding physical and psychological trauma endured by victims, highlighting the urgent need for societal protection and accountability. Semhal Kid, a prominent organizer of the demonstration, voiced concerns about the continuous atrocities faced by women and girls at the hands of various fighting forces. Their demands for an end to injustice resonate with historical struggles for women’s…