China could build world’s longest tunnel link to Taiwan
Aug13

China could build world’s longest tunnel link to Taiwan

While its opponents are investing in wars, Beijing is investing in infrastructure. China seeks to build a tunnel that would connect its mainland with Taiwan. If realized, shuttle trains would run through a 135km undersea section of the tunnel at up to 250kph by 2030 from China to Taiwan, which Beijing considers a renegade province rather than an independent state. The gigantic project would be dug under the ocean, at a depth of 200...

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Russia may ditch dollar in oil trade as it is too risky – finance minister
Aug13

Russia may ditch dollar in oil trade as it is too risky – finance minister

The US dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said. In an interview to Rossiya 1 TV, the finance minister expressed doubt that the internationally recognized currency is reliable. Siluanov also said he does not “rule out” the possibility of switching to national currencies in oil trade. “We...

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Saudi Arabia expels Canadian ambassador, freezes trade in human rights row
Aug06

Saudi Arabia expels Canadian ambassador, freezes trade in human rights row

The Saudi Arabian foreign ministry has recalled its ambassador from Canada and given the Canadian ambassador 24 hours to leave the country. Riyadh is also freezing all new trade and investment deals with Canada. The decision has been reported by Saudi Arabia’s official Saudi Press Agency. It is understood to come in response to Canada’s statement of concern over the arrests of human rights activists in Saudi Arabia. In...

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‘Confronting possible enemies’: Iran’s Revolutionary Guards admit holding Gulf naval war games
Aug06

‘Confronting possible enemies’: Iran’s Revolutionary Guards admit holding Gulf naval war games

Iran’s Revolutionary Guards has acknowledged its warships took part in a naval exercise in Persian Gulf over the last few days to hone skills in “confronting possible threats” posed by enemies. “This exercise was conducted with the aim of controlling and safeguarding the safety of the international waterway [in the Persian Gulf],” said General Ramazan Sharif, spokesman for Iranian Revolutionary Guards according to state...

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Is this the end of ultra cheap gasoline in Venezuela?
Aug06

Is this the end of ultra cheap gasoline in Venezuela?

As the economic crisis continues to deepen, Venezuela’s President Nicolas Maduro is promising a new policy on gasoline (the world’s cheapest)— which is currently generously subsidized by the socialist regime. Maduro promised earlier this week to roll out a new plan to ease the economic crisis and hyperinflation in a televised address to the nation that was delayed because of an hours-long blackout in the capital Caracas. Although...

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