Saturday, March 15

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

Regionalization Is Replacing Globalization, Kazakh President Says
17Jun By Patti MohrNo Comments
Globalization, Global Disintegration, Types of News: Brief

Regionalization Is Replacing Globalization, Kazakh President Says

Kazakhstan Aims To Strengthen Economic Ties With Eurasian Economic Union, China And India June 17, 2022—As global trade breaks apart into regional blocks, Kazakh President Kassym-Jomart Tokayev says Kazakhstan aims to strengthen trade and economic ties with the Eurasian Economic Union. "The key partner for Kazakhstan has always been Russia," Tokayev said, adding that he intends to "fully respect commitments to traditional partners." The union is led by Russia and includes Armenia, Belarus, Kazakhstan and Kyrgyzstan. Furthermore, Tokayev said he sees the union of post-Soviet states building stronger ties with China, India and the Middle East. "Kazakhstan firmly believes that Eurasia is our common house, and the states of our continent must closely cooperate together," Tokaye...
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China’s Xi Pushes Globalization At Russia’s ‘Davos’
17Jun By Patti MohrNo Comments
Globalization, Global Disintegration, Types of News: Brief

China’s Xi Pushes Globalization At Russia’s ‘Davos’

June 17, 2022—China's President Xi Jinping emphasized the importance of globalization and an open world economy as he addressed Russia's St. Petersburg International Economic Forum. Addressing the forum virtually, Xi warned that economic globalization is facing headwinds, according to the Chinese Foreign Ministry. "We need to advance economic globalization," Xi said. He called on attendees to reject "attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure." According to a Russian-owned media outlet the RT, Xi said trade between China and Russia is growing. Western Sanctions Impact Furthermore, China's state-run media outlet CGTN reported that Western sanctions against Russia dominated discussions at this year's forum. Xi said China is ready to wor...
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As Nicaragua Invites Russian Troops To Central America, U.S. Responds
17Jun By Patti MohrNo Comments
Communism, Dictatorship, Geopolitics, Sanctions, Types of News: Brief

As Nicaragua Invites Russian Troops To Central America, U.S. Responds

U.S. Treasury Sanctions State-Owned Gold Mining Firm June 17, 2022—Citing Nicaragua's closer ties with Russia and political oppression at home, the U.S. Treasury issued new sanctions today targeting a Nicaraguan mining company and a government official. Specifically, it targets Empresa Nicaraguense de Minas (ENIMINAS), a state-owned gold-mining company, and Ruy Lopez Delgado, the head of the enterprise. Nicaragua Welcomes Russian Military The sanctions action comes just days after Nicaragua's parliament approved a decree to allow Russian troops to enter the Central American country. Nicaraguan President Daniel Ortega invited Russian troops into his country to carry out law enforcement duties and conduct joint military exercises, ABC News reported earlier this month. On J...
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WTO Ministers Reach Multiple Agreements
17Jun By Patti MohrNo Comments
Global Trade, Types of News: Brief

WTO Ministers Reach Multiple Agreements

WTO concluded its 12th Ministerial Conference in Geneva on June 17, 2022 Geneva Summit Concludes With Trade Accords On Fisheries, Vaccines, Food Safety, AND WTO Reform June 17, 2022—Delegates at the World Trade Organization reached multiple deals on trade this week. At the conclusion of an in-person ministerial summit held in Geneva, the WTO announced agreements on fisheries subsidies, intellectual property, digital trade, rules for COVID-19 vaccines, food safety and agriculture, and WTO reform. "The outcomes demonstrate that the WTO is, in fact, capable of responding to the emergencies of our time,” said WTO Director-General Ngozi Okonjo-Iweala. “They show the world that WTO members can come together, across geopolitical fault lines, to address problems of the global commons, ...
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Biden Announces Plan For Stabilizing Migration In The Americas
10Jun By Patti MohrNo Comments
Migration, Immigration, Borders, Types of News: Brief

Biden Announces Plan For Stabilizing Migration In The Americas

Source: Jill Biden via Twitter June 10, 2022—Hosting the Summit of the Americas this week, U.S. President Joe Biden is coming away with some outcomes. Primarily, the White House announced plans coordinated with countries in Central America, South America, Canada and Spain. Since Biden took office in 2021, illegal immigration across the U.S.-Mexican border has skyrocketed. U.S. border patrol encounters grew from 405,036 in 2020 to 1.2 million by 2022, according to statistics by the U.S. Customs and Border Protection. Source: CBP.gov Here are a few takeaways from the White House fact sheet: The United States promised to provide guidance for temporary migrant workers, resettle 20,000 refugees from the Americas in 2023 and 2024 and increase resettlement of Haitians, and provide ...
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ECB Begins ‘Gradual’ Tapering Its Stimulus
10Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

ECB Begins ‘Gradual’ Tapering Its Stimulus

Central Bank To Leave Some Interest Rates Unchanged While Raising Others By 0.25 Photo by Pixabay on Pexels.com With worsening supply-chain disruptions and inflation in Europe rising to 8.1 percent, the European Central Bank is planning to taper its massive monetary stimulus policies. On July 1, the ECB plans to raise its set of interest rates by 25 basis points. ECB President Christine Lagarde signaled the bank would do so again in September if needed. The bank will also stop net asset purchases. The bank said its approach is one of "gradualism." "I think in times of great uncertainty, gradualism is probably appropriate, more so than if the path is clear, well-identified and we all understand where we are heading," Lagarde said. In line with that, the bank is leaving some ...
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‘Very Risky’ Times For Financial Markets, IMF Exec Says
8Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

‘Very Risky’ Times For Financial Markets, IMF Exec Says

Fund Is Likely To Make A 'Significant' Downgrade For Global Growth Photo by Burak Kebaber on Pexels.com June 8, 2022—Less than two months after adjusting its economic forecast downward due to global fragmentation, the International Monetary Fund is poised to make another reduction when it releases its forecast next month. Moreover, the fund expects to make a "significant" downgrade for global growth, Gita Gopinath, IMF's first deputy managing director, said today. Her comments came during a conversation with the Financial Times's Martin Wolf at that paper's Global Boardroom conference. 'Very Risky' Times In contrast to an analysis by the World Bank, the IMF is not envisioning 1970s-like stagflation as a central possibility. However, negative growth rates in Europe is possibl...
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‘Choice of Law’ Comes Into Play In Mexico’s Civil Case Against U.S. Gun Makers
6Jun By Patti MohrNo Comments
Arms Sales, Military Industry, Types of News: Brief

‘Choice of Law’ Comes Into Play In Mexico’s Civil Case Against U.S. Gun Makers

Photo by Sebastion Pichler June 6, 2022—Massachusetts's "choice of law" rules come into question in the civil case that Mexico brought against U.S. gun manufacturers. The Mexican government started the case against U.S. firms Smith & Wesson, Barrett Firearms, Beretta U.S.A, Colt's Manufacturing, Glock Inc., and Century International Arms, among others. While the manufacturers are headquartered in various U.S. states, Boston, MA is a hub for the distribution of firearms. "Defendants' willfully blind, standardless distribution practices aid and abet the killing and maiming of children, judges, journalists, police, and ordinary citizens throughout Mexico." Case 1:21-cv-11269-FDS, initial filing Cost to Mexico The government's attorneys filed it as a personal injury lawsuit...
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EU Agrees To A Partial Ban On Russian Oil
31May By Patti MohrNo Comments
Europe, EU, Eurozone, Sanctions, Types of News: Brief

EU Agrees To A Partial Ban On Russian Oil

European Council Plans To Accelerate Transition To Alternative Energy May 31, 2022-The 27 heads of government of the European Union agreed today to reduce its dependence on Russian fossil fuels and to accelerate a transition to alternative sources of energy. The decision sets the EU on a course to ban up 90 percent of Russian oil imports by the end of the year. It is part of the sixth round of sanctions against Russia and Belarus in response to Russia's war against Ukraine. "The European Council is committed to intensify pressure on Russia and Belarus to thwart Russia’s war against Ukraine," the Council said in an 11-page document. "The European Council calls on all countries to align with EU sanctions. Any attempts to circumvent sanctions or to aid Russia by other means must be s...
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As Expected, Federal Reserve Raised Its Rate By 50 Basis Points
4May By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

As Expected, Federal Reserve Raised Its Rate By 50 Basis Points

Photo by Kelly L on Pexels.com May 4, 2022-Global financiers closely watched closely today as the U.S. Federal Reserve raised its Federal Funds rate by 0.50 percent. It marks the first large increase in the Fed rate since 2000. With a balance sheet of $9 trillion and a Fed Funds rate of 0.33 percent up until today, the U.S. Federal Reserve has consider room to maneuver to counter inflation. At the end of its two-day meeting, the Fed announced it would raise that rate to 0.75 to 1 percent. The FOMC statement made note of geopolitical events such as the Russia-Ukraine war and China's aggressive COVID-19 policy of locking down whole cities. Furthermore, the committee said it would consider a wide-range of activities before its next decision. "The Committee would be prepared to adj...
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