Jamaat Chief Slams Bangladesh President, Reveals Yunus-Islamists Nexus Amid Backlash
In a surprising turn of events, Bangladesh Jamaat-e-Islami Ameer Shafiqur Rahman has launched a sharp attack on President Mohammed Shahabuddin, following his public criticism of the Muhammad Yunus-led interim regime. Rahman’s comments, which came shortly after Shahabuddin revealed his experiences under the Yunus administration, inadvertently exposed a deeper connection between Bangladesh’s Islamist groups and the interim regime, hinting at a tacit alliance that has shaped the country's po
Jamaat Chief Slams Bangladesh President, Reveals Yunus-Islamists Nexus Amid Backlash
In a surprising turn of events, Bangladesh Jamaat-e-Islami Ameer Shafiqur Rahman has launched a sharp attack on President Mohammed Shahabuddin, following his public criticism of the Muhammad Yunus-led interim regime. Rahman’s comments, which came shortly after Shahabuddin revealed his experiences under the Yunus administration, inadvertently exposed a deeper connection between Bangladesh’s Islamist groups and the interim regime, hinting at a tacit alliance that has shaped the country's po
Nikkei 225 hits record high on Takaichi trade as Asia markets advance
Japan’s benchmark Nikkei 225 climbed to another record high on Thursday, extending its streak of gains as investor enthusiasm around the so-called Takaichi trade continued to fuel buying in domestic equities. The index rose 1.1 percent to close at an all-time high of 59,199.31, marking its third consecutive session of record finishes. The broader Topix index also advanced 1.45 percent, reaching a fresh peak as market sentiment remained buoyant. The rally in Japan stocks has been c
Nikkei 225 hits record high on Takaichi trade as Asia markets advance
Japan’s benchmark Nikkei 225 climbed to another record high on Thursday, extending its streak of gains as investor enthusiasm around the so-called Takaichi trade continued to fuel buying in domestic equities. The index rose 1.1 percent to close at an all-time high of 59,199.31, marking its third consecutive session of record finishes. The broader Topix index also advanced 1.45 percent, reaching a fresh peak as market sentiment remained buoyant. The rally in Japan stocks has been c
Met Gala 2026 Dress Code Revealed: Fashion is Art Promises a Creative Red Carpet
The highly anticipated Met Gala 2026 has unveiled its dress code, and it promises to be a spectacular celebration of fashion and art. Scheduled for May 4, 2026, the event will take place at the iconic Metropolitan Museum of Art in New York City, bringing together global cultural tastemakers from all fields. This year, the Met Gala’s dress code is "Fashion is Art," aligning with the spring exhibition, Costume Art, at the Met’s Costume Institute. The announcement, made by
Met Gala 2026 Dress Code Revealed: Fashion is Art Promises a Creative Red Carpet
The highly anticipated Met Gala 2026 has unveiled its dress code, and it promises to be a spectacular celebration of fashion and art. Scheduled for May 4, 2026, the event will take place at the iconic Metropolitan Museum of Art in New York City, bringing together global cultural tastemakers from all fields. This year, the Met Gala’s dress code is "Fashion is Art," aligning with the spring exhibition, Costume Art, at the Met’s Costume Institute. The announcement, made by
RBI and Nirmala Sitharaman Target Mis-selling in Banking Sector with New Guidelines
India’s financial sector has been grappling with the persistent issue of mis-selling, especially in the realm of banking and insurance products. In a recent statement, Finance Minister Nirmala Sitharaman addressed the ongoing concern, declaring that banks cannot treat mis-selling as a routine part of their business. She went as far as to say that mis-selling is an "offence," sending a clear message to financial institutions that such practices will not be tolerated. Her remarks came at a pr
RBI and Nirmala Sitharaman Target Mis-selling in Banking Sector with New Guidelines
India’s financial sector has been grappling with the persistent issue of mis-selling, especially in the realm of banking and insurance products. In a recent statement, Finance Minister Nirmala Sitharaman addressed the ongoing concern, declaring that banks cannot treat mis-selling as a routine part of their business. She went as far as to say that mis-selling is an "offence," sending a clear message to financial institutions that such practices will not be tolerated. Her remarks came at a pr
New York declares travel ban and snow day ahead of major storm
New York City officials have imposed sweeping emergency measures as a powerful winter storm approaches the northeastern United States, prompting widespread travel restrictions, school closures, and transit disruptions. Mayor Zohran Mamdani on Sunday ordered the shutdown of the city’s traffic network for all but emergency travel and formally declared a state of emergency, warning residents to prepare for dangerous conditions. Under the directive, public schools across the city will
New York declares travel ban and snow day ahead of major storm
New York City officials have imposed sweeping emergency measures as a powerful winter storm approaches the northeastern United States, prompting widespread travel restrictions, school closures, and transit disruptions. Mayor Zohran Mamdani on Sunday ordered the shutdown of the city’s traffic network for all but emergency travel and formally declared a state of emergency, warning residents to prepare for dangerous conditions. Under the directive, public schools across the city will
FBI warns of sharp rise in ATM jackpotting attacks across US
The Federal Bureau of Investigation has issued a nationwide alert to banks and financial institutions, warning of a significant rise in ATM jackpotting attacks, a form of cyber-enabled theft that forces machines to dispense cash without legitimate transactions. Authorities say the trend is accelerating, with financial losses mounting as criminal groups refine their techniques and expand operations across the United States. According to federal officials, nearly 1,900 ATM jackpotting incidents have been reported nationwide since 2020. More than 700 of those cases occurred in 2025 alone, resulting in losses exceeding $20 million. The sharp increase has prompted urgent calls for banks to strengthen ATM security controls, monitor suspicious activity more closely, and share threat intelligence with law enforcement. At the center of the surge is malware from the Ploutus family, a tool specifically designed to hijack ATM systems. Rather than targeting individual customer accounts, the malware attacks the machine’s internal software layer. It exploits the Extensions for Financial Services, or XFS, which normally manages how ATMs physically dispense cash. By injecting unauthorized commands into this layer, attackers can override standard authorization checks and trigger withdrawals without bank approval, card use, or customer credentials. Security analysts warn that once installed, the malware can give criminals direct control of the machine. Because many ATMs operate on widely used operating systems, the attack can often be adapted across different manufacturers with minimal modification. In many cases, cash-out operations can be completed within minutes, allowing perpetrators to leave before alerts are triggered or the machine runs empty. Investigators emphasize that physical access remains the most common entry point for these attacks. Criminals frequently use generic keys to open ATM cabinets and then deploy malware using one of two primary methods. In some incidents, the machine’s hard drive is removed, infected on a separate computer, and reinstalled. In others, the original drive is replaced entirely with a compromised device preloaded with malicious software. Because the malware operates independently of standard banking communications, it can dispense cash without interacting with customer accounts or triggering traditional fraud detection systems. Officials have outlined several warning signs that may indicate a compromised ATM, including unexpected door alerts outside maintenance windows, sudden low-cash notifications, unauthorized devices connected to the machine, missing or tampered hard drives, and machines abruptly marked out of service. Financial institutions are being urged to review physical security protocols, enhance monitoring of service patterns, and report suspicious activity promptly as part of a broader effort to contain the growing ATM cyberattack threat.
FBI warns of sharp rise in ATM jackpotting attacks across US
The Federal Bureau of Investigation has issued a nationwide alert to banks and financial institutions, warning of a significant rise in ATM jackpotting attacks, a form of cyber-enabled theft that forces machines to dispense cash without legitimate transactions. Authorities say the trend is accelerating, with financial losses mounting as criminal groups refine their techniques and expand operations across the United States. According to federal officials, nearly 1,900 ATM jackpotting incidents have been reported nationwide since 2020. More than 700 of those cases occurred in 2025 alone, resulting in losses exceeding $20 million. The sharp increase has prompted urgent calls for banks to strengthen ATM security controls, monitor suspicious activity more closely, and share threat intelligence with law enforcement. At the center of the surge is malware from the Ploutus family, a tool specifically designed to hijack ATM systems. Rather than targeting individual customer accounts, the malware attacks the machine’s internal software layer. It exploits the Extensions for Financial Services, or XFS, which normally manages how ATMs physically dispense cash. By injecting unauthorized commands into this layer, attackers can override standard authorization checks and trigger withdrawals without bank approval, card use, or customer credentials. Security analysts warn that once installed, the malware can give criminals direct control of the machine. Because many ATMs operate on widely used operating systems, the attack can often be adapted across different manufacturers with minimal modification. In many cases, cash-out operations can be completed within minutes, allowing perpetrators to leave before alerts are triggered or the machine runs empty. Investigators emphasize that physical access remains the most common entry point for these attacks. Criminals frequently use generic keys to open ATM cabinets and then deploy malware using one of two primary methods. In some incidents, the machine’s hard drive is removed, infected on a separate computer, and reinstalled. In others, the original drive is replaced entirely with a compromised device preloaded with malicious software. Because the malware operates independently of standard banking communications, it can dispense cash without interacting with customer accounts or triggering traditional fraud detection systems. Officials have outlined several warning signs that may indicate a compromised ATM, including unexpected door alerts outside maintenance windows, sudden low-cash notifications, unauthorized devices connected to the machine, missing or tampered hard drives, and machines abruptly marked out of service. Financial institutions are being urged to review physical security protocols, enhance monitoring of service patterns, and report suspicious activity promptly as part of a broader effort to contain the growing ATM cyberattack threat.
Bangladesh Moves To Restore Cricket Ties With India After T20 World Cup Dispute
Bangladesh has signaled a major shift in its cricket diplomacy, expressing its willingness to repair strained cricket relations with India following the fallout over the ICC Men’s T20 World Cup 2026. The move comes shortly after the new Bangladesh Nationalist Party government took office, with newly appointed Youth and Sports Minister Aminul Haque emphasizing the importance of restoring friendly relations through dialogue and cooperation. His remarks have raised hopes among cricket fans and
Bangladesh Moves To Restore Cricket Ties With India After T20 World Cup Dispute
Bangladesh has signaled a major shift in its cricket diplomacy, expressing its willingness to repair strained cricket relations with India following the fallout over the ICC Men’s T20 World Cup 2026. The move comes shortly after the new Bangladesh Nationalist Party government took office, with newly appointed Youth and Sports Minister Aminul Haque emphasizing the importance of restoring friendly relations through dialogue and cooperation. His remarks have raised hopes among cricket fans and
Taliban New Penal Code Sparks Outrage Over Domestic Violence And Women Rights
Taliban’s newly introduced penal code has sparked global concern after reports revealed provisions that allow husbands to physically punish their wives and children under certain conditions. The controversial law, signed by Taliban supreme leader Hibatullah Akhundzada, has drawn sharp criticism from human rights organisations and international observers, who warn that it severely undermines women’s rights and legal protections in Afghanistan. According to reports, the penal code
Taliban New Penal Code Sparks Outrage Over Domestic Violence And Women Rights
Taliban’s newly introduced penal code has sparked global concern after reports revealed provisions that allow husbands to physically punish their wives and children under certain conditions. The controversial law, signed by Taliban supreme leader Hibatullah Akhundzada, has drawn sharp criticism from human rights organisations and international observers, who warn that it severely undermines women’s rights and legal protections in Afghanistan. According to reports, the penal code
Poland bans Chinese-made vehicles from military facilities over data risks
Poland has formally prohibited Chinese-made cars and other technologically advanced vehicles from entering the country’s military facilities, citing concerns over potential data security risks. The decision, announced by the Chief of the General Staff of the Polish Armed Forces, is intended to reduce the possibility of uncontrolled acquisition and use of sensitive information by modern automotive systems. According to the Polish military, the move follows a detailed risk assessmen
Poland bans Chinese-made vehicles from military facilities over data risks
Poland has formally prohibited Chinese-made cars and other technologically advanced vehicles from entering the country’s military facilities, citing concerns over potential data security risks. The decision, announced by the Chief of the General Staff of the Polish Armed Forces, is intended to reduce the possibility of uncontrolled acquisition and use of sensitive information by modern automotive systems. According to the Polish military, the move follows a detailed risk assessmen
Rs 40,000 Rent For 16 Sq Ft: Inside Hong Kong’s Coffin Homes Crisis
In one of the wealthiest cities in the world, thousands of residents are living inside spaces barely larger than a mattress. Hong Kong, famous for its glittering skyline and ultra-luxury real estate, is also home to nearly 2 lakh people who survive in cramped 16-square-foot “coffin homes” hidden inside ageing buildings. For 14 consecutive years, Hong Kong has ranked as the world’s mo
Rs 40,000 Rent For 16 Sq Ft: Inside Hong Kong’s Coffin Homes Crisis
In one of the wealthiest cities in the world, thousands of residents are living inside spaces barely larger than a mattress. Hong Kong, famous for its glittering skyline and ultra-luxury real estate, is also home to nearly 2 lakh people who survive in cramped 16-square-foot “coffin homes” hidden inside ageing buildings. For 14 consecutive years, Hong Kong has ranked as the world’s mo
PM Modi Invites Bangladesh PM Tarique Rahman To India After BNP Victory
Prime Minister Narendra Modi has extended a warm invitation to Bangladesh’s newly sworn-in Prime Minister Tarique Rahman following the Bangladesh Nationalist Party’s (BNP) electoral victory, signaling India’s intent to deepen engagement with Dhaka’s new leadership. In a congratulatory letter sent soon after the swearing-in ceremony in Dhaka, PM Modi expressed confidence that bilateral relations would grow stronger under Rahman’s leadership and emphasized the importance of shared dev
PM Modi Invites Bangladesh PM Tarique Rahman To India After BNP Victory
Prime Minister Narendra Modi has extended a warm invitation to Bangladesh’s newly sworn-in Prime Minister Tarique Rahman following the Bangladesh Nationalist Party’s (BNP) electoral victory, signaling India’s intent to deepen engagement with Dhaka’s new leadership. In a congratulatory letter sent soon after the swearing-in ceremony in Dhaka, PM Modi expressed confidence that bilateral relations would grow stronger under Rahman’s leadership and emphasized the importance of shared dev
Russia blocks WhatsApp nationwide, launches state-backed MAX messenger
Russia has fully blocked access to M
Russia blocks WhatsApp nationwide, launches state-backed MAX messenger
Russia has fully blocked access to M
Former BrewDog Franklinton bar listed for lease as turnkey restaurant space
A former BrewDog bar in Columbus’ Franklinton neighborhood has been placed on the leasing market, opening the door for a new operator to take over the high-profile space weeks after the Scotland-based brewery closed the location as part of a broader pullback in the city. Roth Real Estate Group is marketing the freestanding property at 463 W. Town St. as a turnkey opportunity for a restaurant, cafe, brewery, bar or creative retail concept. The building offers more than 4,900 square
Former BrewDog Franklinton bar listed for lease as turnkey restaurant space
A former BrewDog bar in Columbus’ Franklinton neighborhood has been placed on the leasing market, opening the door for a new operator to take over the high-profile space weeks after the Scotland-based brewery closed the location as part of a broader pullback in the city. Roth Real Estate Group is marketing the freestanding property at 463 W. Town St. as a turnkey opportunity for a restaurant, cafe, brewery, bar or creative retail concept. The building offers more than 4,900 square
Historic Moment: Mamata Banerjee Argues Case in Supreme Court
For the first time in Indian history, a sitting Chief Minister will argue a case in the Supreme Court. Mamata Banerjee, the Chief Minister of West Bengal, is set to make history by appearing in person to argue a case before the country’s highest court. The case involves the Special Intensive Revision (SIR) of electoral rolls in West Bengal, a topic that has stirred significant political debate in the state. Mamata Banerjee’s appearance in the Supreme Court as a "party in person"
Historic Moment: Mamata Banerjee Argues Case in Supreme Court
For the first time in Indian history, a sitting Chief Minister will argue a case in the Supreme Court. Mamata Banerjee, the Chief Minister of West Bengal, is set to make history by appearing in person to argue a case before the country’s highest court. The case involves the Special Intensive Revision (SIR) of electoral rolls in West Bengal, a topic that has stirred significant political debate in the state. Mamata Banerjee’s appearance in the Supreme Court as a "party in person"
Big Day in AP Politics: Chandrababu Naidu, Pawan Kalyan, and YS Jagan Make Major Moves
February 4, 2026, is shaping up to be a critical day in Andhra Pradesh politics with significant developments involving top political figures in the state. A high-profile meeting between Chief Minister Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan is expected to make waves as the two leaders convene to discuss several pressing political issues. This meeting is anticipated to cover important topics such as the ongoing Tirumala Laddu controversy and the political exchanges between th
Big Day in AP Politics: Chandrababu Naidu, Pawan Kalyan, and YS Jagan Make Major Moves
February 4, 2026, is shaping up to be a critical day in Andhra Pradesh politics with significant developments involving top political figures in the state. A high-profile meeting between Chief Minister Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan is expected to make waves as the two leaders convene to discuss several pressing political issues. This meeting is anticipated to cover important topics such as the ongoing Tirumala Laddu controversy and the political exchanges between th
Myanmar earthquake of 5.9 magnitude sends tremors across Kolkata and Bangladesh
A moderate earthquake measuring 5.9 on the Richter scale struck Myanmar late Tuesday evening, sending noticeable tremors across parts of eastern India and neighbouring Bangladesh. The seismic activity, recorded by international monitoring agencies, caused brief panic among residents but did not result in any immediate reports of damage or injuries. According to data released by the European-Mediterranean Seismological Centre (EMSC), the epicentre of the Myanmar quake was located approximately 70 miles east of Akyab. The German Research Centre for Geosciences (GFZ) reported that the earthquake occurred at a shallow depth of 10 kilometres, a factor that often increases the intensity of shaking felt at the surface. The tremors were strong enough to be experienced in several areas of West Bengal, including Kolkata, as well as multiple regions across Bangladesh. Residents living in high-rise buildings and office complexes in Kolkata said they felt buildings sway for a few seconds shortly after 9 pm. Many people temporarily evacuated their homes and workplaces as a precaution. The shaking subsided quickly, and normalcy returned soon after. Authorities confirmed that no structural damage or casualties had been reported at the time of writing. Seismologists noted that this was the third felt earthquake in Myanmar within the past 71 hours, highlighting a period of heightened seismic activity in the region. Experts continue to monitor the situation for possible aftershocks, though no significant follow-up events have been recorded so far. Bangladesh also experienced another tremor earlier the same day. The National Centre for Seismology stated that a separate earthquake of magnitude 4.1 struck the country at a depth of about 150 kilometres. While deeper earthquakes generally produce less surface impact, residents in some districts still reported mild shaking. Scientists explain that earthquakes occur frequently around the globe, with minor seismic events happening roughly every 30 seconds. Most are too weak to be detected without instruments. However, the energy released increases sharply with each step on the logarithmic Richter scale, meaning a 5.9 magnitude quake releases substantially more energy than lower-intensity events. Officials have advised residents to remain alert and follow basic safety protocols during any future tremors. Disaster management teams continue to assess the situation while reassuring the public that there is currently no cause for alarm.
Myanmar earthquake of 5.9 magnitude sends tremors across Kolkata and Bangladesh
A moderate earthquake measuring 5.9 on the Richter scale struck Myanmar late Tuesday evening, sending noticeable tremors across parts of eastern India and neighbouring Bangladesh. The seismic activity, recorded by international monitoring agencies, caused brief panic among residents but did not result in any immediate reports of damage or injuries. According to data released by the European-Mediterranean Seismological Centre (EMSC), the epicentre of the Myanmar quake was located approximately 70 miles east of Akyab. The German Research Centre for Geosciences (GFZ) reported that the earthquake occurred at a shallow depth of 10 kilometres, a factor that often increases the intensity of shaking felt at the surface. The tremors were strong enough to be experienced in several areas of West Bengal, including Kolkata, as well as multiple regions across Bangladesh. Residents living in high-rise buildings and office complexes in Kolkata said they felt buildings sway for a few seconds shortly after 9 pm. Many people temporarily evacuated their homes and workplaces as a precaution. The shaking subsided quickly, and normalcy returned soon after. Authorities confirmed that no structural damage or casualties had been reported at the time of writing. Seismologists noted that this was the third felt earthquake in Myanmar within the past 71 hours, highlighting a period of heightened seismic activity in the region. Experts continue to monitor the situation for possible aftershocks, though no significant follow-up events have been recorded so far. Bangladesh also experienced another tremor earlier the same day. The National Centre for Seismology stated that a separate earthquake of magnitude 4.1 struck the country at a depth of about 150 kilometres. While deeper earthquakes generally produce less surface impact, residents in some districts still reported mild shaking. Scientists explain that earthquakes occur frequently around the globe, with minor seismic events happening roughly every 30 seconds. Most are too weak to be detected without instruments. However, the energy released increases sharply with each step on the logarithmic Richter scale, meaning a 5.9 magnitude quake releases substantially more energy than lower-intensity events. Officials have advised residents to remain alert and follow basic safety protocols during any future tremors. Disaster management teams continue to assess the situation while reassuring the public that there is currently no cause for alarm.
CEC Made Garbage Of Lies, Misbehaved With Us: Mamata Banerjee After SIR Meet
West Bengal Chief Minister Mamata Banerjee on Monday launched a fierce political and institutional attack on the Election Commission of India following a nearly 90-minute meeting with Chief Election Commissioner Gyanesh Kumar in New Delhi. Accompanied by senior Trinamool Congress leaders and families allegedly affected by the Special Intensive Revision process, Banerjee accused the poll panel of deleting voters’ names arbitrarily and functioning as an extension of the BJP. Emerging from the
CEC Made Garbage Of Lies, Misbehaved With Us: Mamata Banerjee After SIR Meet
West Bengal Chief Minister Mamata Banerjee on Monday launched a fierce political and institutional attack on the Election Commission of India following a nearly 90-minute meeting with Chief Election Commissioner Gyanesh Kumar in New Delhi. Accompanied by senior Trinamool Congress leaders and families allegedly affected by the Special Intensive Revision process, Banerjee accused the poll panel of deleting voters’ names arbitrarily and functioning as an extension of the BJP. Emerging from the
Sheikh Hasina Jailed For 10 Years In Bangladesh Land Allocation Corruption Cases
Bangladesh’s political turmoil deepened further on Monday as a Dhaka court sentenced deposed Prime Minister Sheikh Hasina to 10 years of rigorous imprisonment in two corruption cases related to alleged irregularities in government land allocations. The verdict, delivered by Dhaka’s Special Judge’s Court, marks another major legal setback for the former leader, who has been facing a barrage of cases since her removal from power in 2024. The cases revolve around the Rajuk New Town Project
Sheikh Hasina Jailed For 10 Years In Bangladesh Land Allocation Corruption Cases
Bangladesh’s political turmoil deepened further on Monday as a Dhaka court sentenced deposed Prime Minister Sheikh Hasina to 10 years of rigorous imprisonment in two corruption cases related to alleged irregularities in government land allocations. The verdict, delivered by Dhaka’s Special Judge’s Court, marks another major legal setback for the former leader, who has been facing a barrage of cases since her removal from power in 2024. The cases revolve around the Rajuk New Town Project
China seeks stronger yuan as Xi Jinping outlines push for global reserve currency
Amid continuing global economic uncertainty and renewed debate over the stability of major reserve currencies, Chinese President Xi Jinping has reiterated China’s ambition to build a “strong currency” and gradually elevate the yuan’s status in the global financial system. Xi said China aims to expand the use of the yuan in international trade, investment, and foreign exchange markets, underscoring a long-standing policy goal to strengthen the country’s financial influence worldwide. Xi’s remarks were outlined in a speech delivered in 2024 to senior provincial and ministerial officials and later published on Saturday in Qiushi, the Communist Party’s leading theoretical journal. The publication of excerpts from the address comes at a time of heightened volatility in global markets and growing scrutiny of the dominance of the US dollar, adding significance to Beijing’s renewed emphasis on currency strength and financial resilience. In the speech, Xi set out what he described as the essential characteristics of a global financial powerhouse. These included a solid economic foundation, world-leading technological and industrial capabilities, and a widely accepted and credible currency. He argued that currency strength was inseparable from broader national competitiveness and institutional capacity, noting that financial influence must be supported by real economic and technological power rather than short-term market movements. Xi also stressed the importance of a capable and independent central bank able to implement effective monetary policy and macroprudential management. He said globally competitive financial institutions, along with influential international financial centres, were necessary to attract global capital and exert pricing power in international markets. According to Xi, these elements must be matched with strong regulation, a reliable legal framework, and a deep pool of skilled financial professionals to ensure long-term stability and credibility. While acknowledging China’s scale in global finance, Xi noted that the country still faced structural limitations. He said China ranked among the world’s largest economies in terms of banking assets, foreign exchange reserves, and capital market size, but remained “big but not strong” overall. Transforming China into a true global financial powerhouse, he added, would be a gradual and long-term undertaking rather than an immediate achievement. Beijing has promoted the internationalisation of the yuan for more than a decade, with measurable progress in its use for cross-border trade settlement. The currency’s role in global markets, however, remains limited when compared with established reserve currencies. China’s Cross-Border Interbank Payment System currently clears an average of about 700 billion yuan, or roughly 100 billion US dollars, in transactions each day. This figure remains well below the nearly 2 trillion US dollars cleared daily through the dollar-based Clearing House Interbank Payments System. Yuan-denominated debt issuance in international markets also accounts for a small share of global activity, representing less than one percent of total issuance. These figures highlight the gap between China’s ambitions and the yuan’s current global footprint, despite steady domestic financial expansion. In recent months, the yuan has generally held firm against the US dollar, even amid trade tensions and uneven global growth. This stability contrasts with the sharper depreciation seen during former US President Donald Trump’s first term, when market observers speculated that Chinese authorities tolerated a weaker currency to offset the impact of tariffs. International investment banks continue to argue that the yuan remains below its long-term fair value, reflecting both policy controls and cautious foreign investor sentiment. The republication of Xi’s speech signals continuity in China’s financial strategy rather than a sudden shift. As global markets navigate uncertainty and reassess existing monetary structures, Beijing appears intent on steadily advancing its vision of a stronger yuan and a more influential role in the international financial system over the long term.
China seeks stronger yuan as Xi Jinping outlines push for global reserve currency
Amid continuing global economic uncertainty and renewed debate over the stability of major reserve currencies, Chinese President Xi Jinping has reiterated China’s ambition to build a “strong currency” and gradually elevate the yuan’s status in the global financial system. Xi said China aims to expand the use of the yuan in international trade, investment, and foreign exchange markets, underscoring a long-standing policy goal to strengthen the country’s financial influence worldwide. Xi’s remarks were outlined in a speech delivered in 2024 to senior provincial and ministerial officials and later published on Saturday in Qiushi, the Communist Party’s leading theoretical journal. The publication of excerpts from the address comes at a time of heightened volatility in global markets and growing scrutiny of the dominance of the US dollar, adding significance to Beijing’s renewed emphasis on currency strength and financial resilience. In the speech, Xi set out what he described as the essential characteristics of a global financial powerhouse. These included a solid economic foundation, world-leading technological and industrial capabilities, and a widely accepted and credible currency. He argued that currency strength was inseparable from broader national competitiveness and institutional capacity, noting that financial influence must be supported by real economic and technological power rather than short-term market movements. Xi also stressed the importance of a capable and independent central bank able to implement effective monetary policy and macroprudential management. He said globally competitive financial institutions, along with influential international financial centres, were necessary to attract global capital and exert pricing power in international markets. According to Xi, these elements must be matched with strong regulation, a reliable legal framework, and a deep pool of skilled financial professionals to ensure long-term stability and credibility. While acknowledging China’s scale in global finance, Xi noted that the country still faced structural limitations. He said China ranked among the world’s largest economies in terms of banking assets, foreign exchange reserves, and capital market size, but remained “big but not strong” overall. Transforming China into a true global financial powerhouse, he added, would be a gradual and long-term undertaking rather than an immediate achievement. Beijing has promoted the internationalisation of the yuan for more than a decade, with measurable progress in its use for cross-border trade settlement. The currency’s role in global markets, however, remains limited when compared with established reserve currencies. China’s Cross-Border Interbank Payment System currently clears an average of about 700 billion yuan, or roughly 100 billion US dollars, in transactions each day. This figure remains well below the nearly 2 trillion US dollars cleared daily through the dollar-based Clearing House Interbank Payments System. Yuan-denominated debt issuance in international markets also accounts for a small share of global activity, representing less than one percent of total issuance. These figures highlight the gap between China’s ambitions and the yuan’s current global footprint, despite steady domestic financial expansion. In recent months, the yuan has generally held firm against the US dollar, even amid trade tensions and uneven global growth. This stability contrasts with the sharper depreciation seen during former US President Donald Trump’s first term, when market observers speculated that Chinese authorities tolerated a weaker currency to offset the impact of tariffs. International investment banks continue to argue that the yuan remains below its long-term fair value, reflecting both policy controls and cautious foreign investor sentiment. The republication of Xi’s speech signals continuity in China’s financial strategy rather than a sudden shift. As global markets navigate uncertainty and reassess existing monetary structures, Beijing appears intent on steadily advancing its vision of a stronger yuan and a more influential role in the international financial system over the long term.
Seven dead after private jet crashes during takeoff at Bangor airport amid snowstorm
Seven people were killed and one crew member was critically injured after a private business jet crashed during takeoff at Bangor International Airport in Maine on Sunday evening, as a large winter storm swept across New England and much of the United States. Federal aviation authorities confirmed the fatalities and said the sole survivor was transported for emergency medical treatment with serious injuries. The aircraft, a Bombardier Challenger 600, was carrying eight people when i
Seven dead after private jet crashes during takeoff at Bangor airport amid snowstorm
Seven people were killed and one crew member was critically injured after a private business jet crashed during takeoff at Bangor International Airport in Maine on Sunday evening, as a large winter storm swept across New England and much of the United States. Federal aviation authorities confirmed the fatalities and said the sole survivor was transported for emergency medical treatment with serious injuries. The aircraft, a Bombardier Challenger 600, was carrying eight people when i









