Search

Japan is preparing for a new leader after Prime Minister Fumio Kishida announced that he will not run for re-election. The president of the ruling Liberal Democratic Party (LDP) is expected to become the next prime minister due to the party's dominance in parliament. Foreign Minister Yoko Kamikawa has declared her intention to run, potentially becoming Japan's first female premier. Other potential candidates include Takayuki Kobayashi, Shigeru Ishiba, Taro Kono, Toshimitsu Motegi, Shinjiro Koizumi, Sanae Takaichi, and Katsunobu Kato. Each candidate has their own policy positions and background, offering a diverse range of options for Japan's future leadership. [Extracted from the article]

President Joko Widodo of Indonesia is planning to replace the country's energy chief as part of a larger cabinet reshuffle. This move is aimed at ensuring that Widodo's policies remain a priority for the incoming administration of Prabowo Subianto. The new ministers of energy, investment, and law will be announced, along with the appointment of a second deputy minister of communications and the head of the nutrition agency. [Extracted from the article]

Israel and Hamas are blaming each other for hindering a cease-fire and hostage deal as the top US diplomat arrives in Tel Aviv to push for an agreement. Mediators claim that the current round of negotiations has brought the two sides closest to an official pause in fighting in months, but objections from both sides on Sunday have raised the chances of a renewed stalemate. Talks are set to resume in Cairo later this week, though no official date has been set. [Extracted from the article]

Israeli Prime Minister Benjamin Netanyahu has emphasized that the responsibility for a cease-fire and hostage deal lies with Hamas, as US Secretary of State Antony Blinken arrived in Tel Aviv to push for an agreement. Talks between Israel and the US, mediated by Egyptian and Qatari officials, are ongoing, with negotiations set to resume in Cairo later this week. The conflict in the Palestinian enclave began when Hamas fighters entered southern Israel, resulting in a significant number of casualties. Efforts to reach an agreement are said to be in the final stages, with cautious optimism expressed by Israeli negotiators. Netanyahu has previously insisted on the Israeli army's presence in strategic corridors in Gaza, while Hamas rejects any Israeli presence in these areas. [Extracted from the article]

Israeli Prime Minister Benjamin Netanyahu is seeking to place the responsibility for a cease-fire and hostage deal with Hamas as US Secretary of State Antony Blinken arrives in Tel Aviv to push for an agreement. Netanyahu stated that negotiations are taking place and that there are certain things Israel cannot be flexible on. Talks between Israel, the US, and Hamas are set to resume in Cairo later this week. The conflict in the Palestinian enclave began when Hamas fighters entered southern Israel, resulting in a war that has claimed the lives of thousands. Efforts to reach an agreement on ending the conflict are said to be nearing the final stages. [Extracted from the article]

Croatia will reinstate mandatory military service for men starting in 2025 in order to enhance its defense capabilities. The decision to reintroduce two-month-long stints comes as part of the country's efforts to strengthen its defense forces. This move aligns with the trend in Europe, where nations are increasing defense budgets and expanding their militaries in response to the changing security environment following Russia's invasion of Ukraine. Croatia's Defense Minister emphasized the importance of modernizing and equipping the military, stating that there is no room for austerity in this regard. [Extracted from the article]

The race for Japan's new premier is intensifying, with candidates being closely examined for their views on monetary policy. The recent comments made by potential contender Taro Kono, suggesting an interest rate hike to support the yen, sparked criticism from Finance Minister Shunichi Suzuki. This exchange highlights the scrutiny on whether the government will influence the Bank of Japan's path towards policy normalization. With Prime Minister Fumio Kishida stepping down, new candidates will compete at a time when BOJ policy is in flux. The upcoming election will take place against a backdrop of persistent inflation, and the outcome could impact the BOJ's future policy decisions. [Extracted from the article]

Ukraine's offensive into Russian territory has left its allies uncertain about the operation's ultimate goal. While some NATO allies have supported Ukraine's decision, others have expressed concerns about diverting troops from the front line and potentially causing divisions among supporters. Italian Defense Minister Guido Crosetto criticized the move, but Prime Minister Giorgia Meloni reaffirmed Italy's support for Ukraine. The lack of clarity over the objectives of the offensive has raised questions, and Germany has reserved its reaction. Ukraine has claimed tactical victories and seized territory, but NATO allies consider it unlikely that Ukraine will be able to hold Russian territory. Some eastern European NATO members, like Poland, continue to support Ukraine, while others, like Lithuania, advocate for permission to use long-range capabilities. The offensive has changed perceptions about Ukraine's fighting force, with some experts praising their creativity and efficiency. [Extracted from the article]

The race for Japan's next prime minister is intensifying, and candidates are being closely examined for their views on monetary policy. This is particularly important as the country's economy is recovering from years of deflation. Recent comments by potential contender Taro Kono, suggesting an interest rate hike to support the yen, caused a stir and highlighted the potential influence of politicians on the Bank of Japan's policies. Other candidates, such as Toshimitsu Motegi and Sanae Takaichi, have also expressed their views on monetary policy, while the stances of other expected candidates remain unclear. The upcoming election takes place against a backdrop of persistent inflation and rising living costs, which may impact the new leader's approach to policy normalization. [Extracted from the article]

The race for Japan's new premier is intensifying, with candidates being closely examined for their views on monetary policy. The recent comments made by potential contender Taro Kono, suggesting an interest rate hike to support the yen, sparked controversy and highlighted the potential influence of politicians on the Bank of Japan's (BOJ) policy. Other candidates, such as Toshimitsu Motegi and Sanae Takaichi, have also expressed their opinions on monetary policy, while the stances of other expected candidates remain unclear. The upcoming election takes place against a backdrop of persistent inflation and economic growth, which could impact the BOJ's future policy decisions. [Extracted from the article]

Ukrainian forces have claimed to accept the surrender of the largest group of Russian soldiers since the start of the war over two years ago. The Ukrainian Security Service captured 102 Russian servicemen in Russia's Kursk region, who were found in an underground complex with ample supplies. Ukraine now controls 1,150 square kilometers of Russian territory, including 82 villages and towns. The US is still trying to understand Ukraine's objectives in its offensive, and some Russian units have been redirected to the Kursk area. The Ukrainian incursion into Russia challenges efforts to restrict the use of weapons in Russia, and a possible prisoner exchange has been discussed between the two countries. [Extracted from the article]

Ukrainian forces have reported the largest surrender of Russian soldiers since the start of the war over two years ago. The Ukrainian Security Service captured 102 Russian servicemen in Russia's Kursk region, who were found in an underground complex with ample supplies. Ukraine claims to have expanded its control over Russian territory, including 82 villages and towns, totaling 1,150 square kilometers. The incursion into Russia challenges the restrictions on the use of weapons in Russia imposed by the US and other supporting nations. Talks of a possible prisoner exchange have already begun between Russia and Ukraine. [Extracted from the article]

Ukrainian forces have reported the largest surrender of Russian soldiers since the start of the war over two years ago. The Ukrainian Security Service captured 102 Russian servicemen in Russia's Kursk region, who were found in an underground complex with ample supplies. Ukraine claims to have expanded its cross-border incursion and now controls 1,150 square kilometers of Russian territory. President Zelenskiy praised Ukraine's troops and mentioned the possibility of a prisoner exchange with Russia. The fighting in eastern Ukraine continues, with Russian forces advancing towards the city of Pokrovsk. [Extracted from the article]

Thailand's Constitutional Court has removed Prime Minister Srettha Thavisin from office due to an ethics violation, causing political turmoil in the country. The court found that Srettha had breached integrity and ethical standards by appointing a lawyer with a tainted past as a cabinet minister. The decision is final and cannot be appealed. The 500-member House of Representatives will hold a special session to choose a new prime minister. Srettha's removal may lead to political chaos and has already resulted in foreign investors withdrawing from the country. [Extracted from the article]

Thailand's Constitutional Court has removed Prime Minister Srettha Thavisin from office due to an ethics violation, causing political turmoil in the country. Srettha was found guilty of breaching integrity and ethical standards by appointing a tainted lawyer as a cabinet minister. The court's decision is final and cannot be appealed. This development may lead to political chaos and economic risks for Thailand, as foreign investors have already withdrawn money from the country. The ruling also signals potential trouble for the agreement that allowed former leader Thaksin Shinawatra to return to Thailand. [Extracted from the article]

Prime Minister Fumio Kishida of Japan has announced that he will not run for re-election as the president of the ruling Liberal Democratic Party. This means that Japan will have a new leader, as the president of the LDP is virtually guaranteed to become the prime minister due to the party's dominance in parliament. Several potential contenders to replace Kishida have been identified, including Shigeru Ishiba, Taro Kono, Yoko Kamikawa, Toshimitsu Motegi, Shinjiro Koizumi, Sanae Takaichi, and Katsunobu Kato. Each candidate has their own unique background and policy positions, and the selection of the new leader will have significant implications for Japan's domestic and foreign policies. [Extracted from the article]

India's trade deficit widened in July due to increased imports driven by strong domestic demand. The trade gap between exports and imports was $23.5 billion, higher than the forecasted $21.5 billion deficit. Imports grew by 7.5% to $57.48 billion, while exports fell by 1.5% to $33.98 billion. India's growing consumption is reflected in increased crude oil imports, and the country is the world's third-largest consumer of oil. A smaller trade deficit is important for India to maintain manageable levels of its current account deficit. [Extracted from the article]

Japanese Prime Minister Fumio Kishida has announced that he will not run for a second term as leader of the Liberal Democratic Party (LDP), opening the way for a race to succeed him as premier. The winner of the LDP's leadership race, expected in late September, is likely to become the next prime minister. Kishida's decision comes as his support has declined to under 30% due to voter dissatisfaction with his handling of a scandal and economic challenges. The next premier may call an election to solidify their mandate, but the LDP and its coalition partner are expected to maintain control. The replacement for Kishida is uncertain, with former Defense Minister Shigeru Ishiba being a popular choice in media surveys. [Extracted from the article]

Russian air defenses successfully shot down 117 drones and four tactical missiles in a large-scale overnight attack. The drones were destroyed in regions bordering Ukraine, as well as in the Nizhny Novgorod region near Moscow. There were reports of strikes on other Russian airfields, leading to a state of emergency being declared in the Belgorod region. Ukraine now controls 74 villages and towns in the Kursk region, and President Zelenskiy has indicated that more action is being prepared. Russian President Putin has appointed a trusted aide to monitor operations to expel Ukrainian forces from Russia. The conflict has prompted at least 180,000 residents in the Kursk region to flee their homes. [Extracted from the article]

Prime Minister Fumio Kishida of Japan has announced that he will not run for re-election in the ruling Liberal Democratic Party in September, meaning that Japan will have a new leader. The president of the LDP is likely to become the next prime minister due to the party's dominance in parliament. Some potential contenders to replace Kishida include Shigeru Ishiba, Taro Kono, Yoko Kamikawa, Toshimitsu Motegi, Shinjiro Koizumi, Sanae Takaichi, and Katsunobu Kato. Each candidate has their own unique background and policy positions, and the selection of the new leader could have implications for Japan's relationships with other countries and its domestic policies. [Extracted from the article]

Japanese Prime Minister Fumio Kishida has announced that he will not run for a second term as leader of the Liberal Democratic Party (LDP), opening the way for a race to succeed him as premier. The winner of the LDP's leadership race, expected in late September, is likely to become the next prime minister. Kishida's decision comes as support for him has declined due to voter frustration over his handling of a party slush-fund scandal, ongoing inflation, and a slump in the yen. The next premier may call an election to solidify the new government's mandate, but the LDP and its coalition partner are expected to maintain control. The replacement for Kishida is uncertain, with former Defense Minister Shigeru Ishiba being the most popular choice in media surveys. [Extracted from the article]

Japanese Prime Minister Fumio Kishida's decision not to run for a second term may lead to a new leader who supports the central bank's efforts to normalize policy, according to market strategists. Potential contenders for the presidency of the ruling Liberal Democratic Party include Shigeru Ishiba, Taro Kono, Toshimitsu Motegi, and Sanae Takaichi. The news caused fluctuations in the markets, with the Nikkei 225 Stock Average falling and the yen remaining relatively stable. Analysts have varying opinions on how Kishida's announcement will impact the yen, the Bank of Japan's policies, stocks, and bonds. [Extracted from the article]

The race for Japan's next prime minister is intensifying, and candidates are being closely examined for their views on monetary policy. This is particularly important as the country's economy is recovering from years of deflation. Recent comments by potential contender Taro Kono, suggesting an interest rate hike to support the yen, caused a stir and highlighted the potential influence of politicians on the Bank of Japan's policies. Other candidates, such as Toshimitsu Motegi and Sanae Takaichi, have also expressed their views on monetary policy, while the stances of other expected candidates remain unclear. The upcoming election takes place against a backdrop of persistent inflation and rising living costs, which may impact the future direction of the Bank of Japan's policies. [Extracted from the article]

China has called for a "professional" investigation into the damage to an undersea pipeline last year, after Estonia disputed the findings of a Chinese probe that labeled it as an accident. The Chinese Foreign Ministry stated that it was in close communication with Estonian counterparts as it evaluates the incident. The Estonian defense chief raised objections to the Chinese probe, which attributed the rupture of the Balticconnector gas pipeline to storm conditions. The investigation conducted by China confirmed that a Hong Kong-flagged vessel was responsible for the damage, but stated that it was accidental and caused by a strong storm. [Extracted from the article]

Kazakhstan is asserting its own economic interests and refusing to blindly follow sanctions against Russia if they harm domestic companies. The country is seeking access to global markets for its exports, but faces challenges due to its proximity to Russia and Iran, which are heavily sanctioned. Kazakhstan has previously opposed US-led sanctions but is now publicly challenging them. Some of the measures intended to restrict Russia's access to goods have disproportionately affected Kazakhstan, with little compensation from Western governments. Kazakhstan is now looking to strengthen trade ties with China and explore alternative trade routes through the Caspian Sea to Iran. [Extracted from the article]

Business leaders have urged the UK government to ensure that its plan to strengthen workers' rights does not hinder economic growth. The government, led by Keir Starmer, held talks with trade unions and business lobby groups to discuss the proposed Employment Rights Bill, which includes measures such as banning zero-hours contracts and ending "fire and rehire" policies. While some unions expressed support for the plans, business groups emphasized the need for consultation to ensure that the reforms do not have unintended consequences. The government aims to build a partnership between government, unions, and businesses to improve workers' rights and drive economic growth. [Extracted from the article]

Russia has reported downing 117 drones and four tactical missiles in one of the largest overnight attacks of the war, while Ukrainian forces claim to be advancing on Russian territory. The Defense Ministry in Moscow said the unmanned aerial vehicles were destroyed in regions bordering Ukraine and in the Nizhny Novgorod region. Ukrainian Commander-in-Chief Oleksandr Syrskyi claimed that his forces were advancing in Russia's Kursk region, but these claims could not be independently verified. The governor of Russia's Belgorod region, which borders northeastern Ukraine, declared a state of emergency due to raids and drone attacks. Russia has been rushing reinforcements to the Kursk border region to counter the Ukrainian incursion. [Extracted from the article]

Prime Minister Fumio Kishida of Japan has announced that he will not run for re-election in the ruling Liberal Democratic Party in September, meaning that Japan will have a new leader. The president of the LDP is likely to become the next prime minister due to the party's dominance in parliament. Some potential contenders to replace Kishida include Shigeru Ishiba, Taro Kono, Yoko Kamikawa, Toshimitsu Motegi, Shinjiro Koizumi, Sanae Takaichi, and Katsunobu Kato. Each candidate has their own unique background and policy positions, and the selection of the new leader will have significant implications for Japan's domestic and foreign policies. [Extracted from the article]

Japanese Prime Minister Fumio Kishida has announced that he will not run for a second term as leader of the Liberal Democratic Party (LDP), opening the way for a race to succeed him as prime minister. The winner of the LDP's leadership race, expected in late September, is likely to become the next prime minister due to the party's dominance in parliament. Kishida's decision comes as support for him has declined in recent months due to voter frustration over various issues, including a party slush-fund scandal, inflation, and a weakening yen. The next premier may still call an election to solidify the new government's mandate, but the LDP and its coalition partner are expected to maintain control. The replacement for Kishida is uncertain, but potential candidates include former Defense Minister Shigeru Ishiba, Digital Transformation Minister Kono Taro, Foreign Minister Yoko Kamikawa, and Shinjiro Koizumi, the son of a former premier. The news of Kishida's decision has had an impact on the financial markets, with the yen strengthening and Japanese share indexes showing mixed results. [Extracted from the article]

Japanese Prime Minister Fumio Kishida has announced that he will not run for a second term as leader of the Liberal Democratic Party (LDP), opening the door for a new party member to become the next prime minister. Kishida's decision comes after a decline in support due to voter frustration over his handling of a party slush-fund scandal, inflation, and a weakening yen. The winner of the LDP leadership race, expected in late September, is likely to become Japan's third prime minister since Shinzo Abe stepped down in 2020. The market response to the news has been uncertain, with the yen gaining against the dollar and the Nikkei 225 stock index dropping slightly. [Extracted from the article]

Japanese Prime Minister Fumio Kishida has announced that he will not run for a second term as leader of the Liberal Democratic Party (LDP), opening the door for a new party member to become the next prime minister. Kishida's popularity has been declining due to voter frustration over his handling of a party slush-fund scandal, inflation, and the weakening yen. The winner of the LDP leadership race, expected in late September, is likely to become the next prime minister. Former Defense Minister Shigeru Ishiba is currently the most popular choice in media surveys to replace Kishida. [Extracted from the article]

President Vladimir Putin has appointed his former personal bodyguard, Alexey Dyumin, to oversee operations in the Kursk border region and report back to him on the expulsion of Ukrainian forces from Russia. Dyumin, who was named secretary of Russia's State Council in May, does not have an official role at the Defense Ministry or the Federal Security Service. Ukraine's surprise cross-border attack has resulted in the largest assault within Russia since Putin's invasion of Ukraine in 2022. Dyumin, who is under international sanctions, is part of Putin's inner circle and has been speculated as a potential successor to the presidency. [Extracted from the article]

Prime Minister Fumio Kishida of Japan has announced that he will not run for re-election in the ruling Liberal Democratic Party in September, meaning that Japan will have a new leader. The president of the LDP is likely to become the next prime minister due to the party's dominance in parliament. Some potential contenders to replace Kishida include Shigeru Ishiba, a former defense minister who is popular among voters; Taro Kono, an outspoken maverick with cabinet experience; Yoko Kamikawa, the foreign minister who could become Japan's first female premier; Toshimitsu Motegi, the secretary-general of the LDP and a Harvard graduate; and Shinjiro Koizumi, a former environment minister and advocate for renewable energy. Another potential candidate is Sanae Takaichi, a former heavy metal drummer and hard-line conservative. The selection of Takaichi could strain Japan's relationships with South Korea and China due to her visits to Yasukuni Shrine and her support for nuclear power. [Extracted from the article]

Zambia has reopened its border with the Democratic Republic of Congo after resolving a trade dispute that led to the closure of the border. The dispute began when Congo banned imports of beer, soft drinks, and lime, which sparked protests on its side of the border. Zambia closed the border for the safety of transport drivers who were being attacked. The two countries have now reached an agreement and will set up committees to address future trade issues. Congo is Zambia's third-largest export destination, accounting for almost 11% of its total exports. [Extracted from the article]

Poland has signed a $10 billion deal with US manufacturer Boeing to purchase almost 100 AH-64E Apache attack helicopters. This is the most expensive military purchase made by the Polish government and is part of their efforts to strengthen their defensive capabilities. The contract also includes logistical support and training for pilots and engineers. Poland is looking to strengthen its defenses along its border with Russia and Belarus and has called for a European air-defense shield. [Extracted from the article]

South Africa's new coalition government has indicated that its foreign policy will prioritize the nation's economic interests, potentially improving relations with Western countries that are major trading partners. The African National Congress, which previously aligned with China and Russia, strained ties with the US and EU by refusing to condemn Russia's invasion of Ukraine and laying genocide charges against Israel. However, with the ANC losing its majority in recent elections and forming a government of national unity, the focus is now on growing the economy through foreign direct investment and domestic market industrialization. While South Africa aims to improve relations with the US, it will continue to pressure Israel to end its war in Gaza. [Extracted from the article]

The Czech town of Roznov pod Radhostem has attracted attention and investment from US chipmaker ON Semiconductor Corp., which has chosen the town as the location for a new $2 billion manufacturing hub. The investment is significant for the Czech Republic and the European Union, as it will help secure supplies of critical components in the global chip war. The expansion will focus on producing more profitable silicon-carbide semiconductors for electric vehicles and the renewable energy industry, with a contract with Volkswagen AG already in place. The project is seen as an opportunity for the Czech Republic to transition to a more profitable industry and reduce its dependence on traditional manufacturing. [Extracted from the article]

The US has increased its military presence in the Middle East to support Israel in defending against potential attacks from Iran or Lebanon's Hezbollah. The USS Abraham Lincoln carrier group, along with F-35C fighters, and the guided-missile submarine USS Georgia have been deployed to the region. This move aims to strengthen Israeli defenses and potentially deter Iran and Hezbollah from retaliating for recent assassinations. Talks for a Gaza cease-fire are scheduled to resume, with the US, Qatar, and Egypt calling for negotiations. France, Germany, and the UK have endorsed the talks and urged Iran to refrain from attacks. Israel has agreed to attend the talks, which will focus on truce terms and the release of hostages held in Gaza. [Extracted from the article]

Zambia's trade minister will meet with officials from the Democratic Republic of Congo to resolve a dispute that led to the closure of their border, causing delays in copper exports. The issue arose from Congo's ban on imports of Zambian beer, soft drinks, and lime. The closure of the border was intended to ensure the safety of truck drivers after protests erupted in Congo. The disruption poses a significant threat to jobs, and the Zambia Association of Manufacturers is calling for a collaborative solution that respects trade protocols and bilateral agreements. [Extracted from the article]

The US has increased its military presence in the Middle East to support Israel in defending against potential attacks from Iran. Secretary of Defense Lloyd Austin ordered the urgent deployment of naval and air forces, including the USS Abraham Lincoln carrier group and the USS Georgia guided-missile submarine. The move comes ahead of Gaza cease-fire talks scheduled for later this week. The US, Qatar, and Egypt have called for new talks to resolve the long-standing conflict between Israel and Hamas, but Hamas has pushed back, insisting on implementing previous plans. The situation is tense, with the possibility of retaliation for recent assassinations and the release of hostages held in Gaza being key points of contention. [Extracted from the article]

The US has increased its military presence in the Middle East to support Israel in defending against potential attacks from Iran. Secretary of Defense Lloyd Austin ordered the USS Abraham Lincoln carrier group and the USS Georgia guided-missile submarine to expedite their deployment to the region. This move comes ahead of Gaza cease-fire talks scheduled for later in the week. The US, along with Qatar and Egypt, has called for these talks in an effort to resolve the ongoing conflict between Israel and Hamas. However, Hamas has expressed reservations and believes discussions should focus on implementing previous plans. France, Germany, and the UK have endorsed the proposal for talks. The US and Israel are working together to deter aggression from Iran and its allied groups in the region. The goal is to secure a cease-fire and the release of hostages held in Gaza. Israel's military campaign against Hamas is ongoing, with a recent strike on Gaza City drawing international condemnation. The Israeli government has not commented on the situation. Iran's new president has called on the West to restrain Israel, criticizing what he perceives as double standards. [Extracted from the article]

Zambia's trade minister will meet with officials from the Democratic Republic of Congo to resolve a trade dispute that led to the closure of their border. The dispute arose from Congo's ban on imports of Zambian beer, soft drinks, and lime. This closure has caused delays in copper exports, as most of Congo's copper production travels through Zambia to reach regional ports. The closure was implemented to ensure the safety of truck drivers, as protests in Congo had led to damage and violence against drivers. [Extracted from the article]

The US has increased its military presence in the Middle East to support Israel in defending against potential attacks from Iran. Secretary of Defense Lloyd Austin ordered the deployment of the USS Abraham Lincoln carrier group and the USS Georgia guided-missile submarine to the region. This move comes ahead of planned Gaza cease-fire talks, where the US, Qatar, and Egypt are calling for a new round of negotiations between Israel and Hamas. Israel has agreed to attend the talks, but Hamas has pushed back, stating that discussions should focus on implementing previous plans. [Extracted from the article]

Vietnam's Ministry of Public Security is investigating 32 wind power projects due to allegations of abuse of power at the Ministry of Industry and Trade. The investigation includes requesting documents and information from Vietnam Electricity Group. This investigation is part of a larger anti-corruption campaign initiated by the late Communist Party chief Nguyen Phu Trong and continued by his successor, To Lam. The Communist Party's inspection panel has previously identified violations in the regulation of solar and wind power policies. Several individuals, including Deputy Trade Minister Do Thang Hai and former deputy trade minister Hoang Quoc Vuong, have been detained in connection with corruption investigations. [Extracted from the article]

Mohsen Paknejad, a former deputy in the state-run National Iranian Oil Co., has been appointed as Iran's new oil minister by President Masoud Pezeshkian. The proposed cabinet, including Paknejad, must be approved by lawmakers before they can assume their positions. Iran is a significant member of the Organization of Petroleum Exporting Countries (OPEC) and produces over 3 million barrels of oil per day. Paknejad previously served as an adviser to former oil minister Bijan Namdar Zanganeh and held the position of acting managing director of the National Iranian Oil Co. [Extracted from the article]

Nike Inc. has suspended online sales in Turkey due to an increase in customs taxes on online purchases from abroad. The company stated that it cannot guarantee smooth and timely delivery of orders, leading to the suspension of online orders in Turkey. The new Turkish regulation lowered the cap for tax charges on individuals' online purchases and increased the tax rate for goods purchased from the European Union and other countries. Nike will continue to sell its products in Turkey through its own stores and retail affiliates. The new customs measures aim to reduce negative effects on market share, employment, and foreign currency. [Extracted from the article]

Ukrainian troops have launched a major incursion into Russian territory, catching Russian defensive forces off guard. Russian army chief Valery Gerasimov is facing criticism for dismissing intelligence warnings about the Ukrainian soldiers gathering near the border. Russia has declared a state of emergency in the Kursk region and is deploying troops, airstrikes, and artillery to repel the invasion. The situation presents extraordinary challenges to all levels of Russia's government, according to President Vladimir Putin. This incursion is the first of its scale to involve Ukrainian military units and has caused disruption fears in European natural gas trading. [Extracted from the article]

(Bloomberg) -- Somalia's cabinet ministers approved an electoral law that will enable the implementation of a one-person, one-vote system in 2026.This new electoral bill will replace the current practice of indirect elections that has been in place since 2000.The draft bill will now be presented for a vote in parliament. If approved, it will proceed to three readings in the Senate. After these readings, the bill will need the president's assent before it can become law.©2024 Bloomberg L.P.By Mohamed Sheikh NorReported by Author [Extracted from the article]

Kenyan President William Ruto has appointed 19 ministers approved by parliament, despite the threat of renewed anti-government protests. Last month, Ruto dismissed most of his cabinet secretaries following demonstrations against proposed levies. Ruto has now formed a broad-based government that includes opposition leaders, aiming to unlock the country's potential and move beyond political rivalries. The new head of Treasury, John Mbadi, plans to reduce Kenya's debt burden by relying more on multilateral lenders and reducing commercial liabilities. He also intends to implement zero-based budgeting and introduce a surcharge for officials responsible for the loss of public resources. Mbadi will need to address credit-rating downgrades and keep the fiscal deficit within agreed targets. [Extracted from the article]

Yahya Sinwar, the newly appointed political leader of Hamas, has a complex history that includes advocating for a cease-fire with Israel and expressing ambitions for Gaza to become prosperous like Singapore or Dubai. Sinwar's election as political leader solidifies his control over the group, and Israeli officials believe he has been running cease-fire negotiations behind the scenes. However, Sinwar is also seen as a mastermind behind a deadly Hamas attack in October, and Israeli officials consider him a top target for assassination. The current situation between Sinwar and Israel is one of intimate enemies, as they have been watching and analyzing each other for decades. [Extracted from the article]