Spain PM rejects war, responds to trade threat over air base dispute
Spanish Prime Minister Pedro Sánchez has strongly criticized the ongoing military strikes against Iran, describing the escalation in the Middle East as a “disaster” and warning that the world cannot risk repeating the mistakes of history. His remarks come shortly after a trade threat was issued to Spain in response to Madrid’s refusal to allow two jointly operated military bases on Spanish territory to be used in the strikes. In a televised address, Sánchez emphasized the dang
Spain PM rejects war, responds to trade threat over air base dispute
Spanish Prime Minister Pedro Sánchez has strongly criticized the ongoing military strikes against Iran, describing the escalation in the Middle East as a “disaster” and warning that the world cannot risk repeating the mistakes of history. His remarks come shortly after a trade threat was issued to Spain in response to Madrid’s refusal to allow two jointly operated military bases on Spanish territory to be used in the strikes. In a televised address, Sánchez emphasized the dang
US–Israel–Iran War | Iran warns Israel over Beirut embassy threat amid rising military tensions
Tensions between Israel and Iran intensified on Wednesday after a senior Iranian military spokesperson warned that any attack on Iran’s embassy in Beirut could trigger retaliatory strikes against Israeli diplomatic missions worldwide. The statement reflects growing hostility between the two regional rivals as security concerns continue to rise across West Asia. Brigadier General Abolfazl Shekarchi, spokesperson for Iran’s Armed Forces, said Israel had threatened to target the Iranian emb
US–Israel–Iran War | Iran warns Israel over Beirut embassy threat amid rising military tensions
Tensions between Israel and Iran intensified on Wednesday after a senior Iranian military spokesperson warned that any attack on Iran’s embassy in Beirut could trigger retaliatory strikes against Israeli diplomatic missions worldwide. The statement reflects growing hostility between the two regional rivals as security concerns continue to rise across West Asia. Brigadier General Abolfazl Shekarchi, spokesperson for Iran’s Armed Forces, said Israel had threatened to target the Iranian emb
Emirates Resumes Limited Flights After Middle East Airspace Disruptions
Air travel operations in parts of the Middle East showed early signs of recovery after several airlines announced limited service resumption following widespread disruptions caused by recent regional strikes. Dubai-based Emirates confirmed it received approval from local authorities to restart a limited number of flights, with operations expected to begin Monday evening. The decision comes after thousands of flights were canceled over the weekend due to airspace closures across multiple countries in the region. Authorities in Dubai stated that only a small number of flights would be allowed to operate from Dubai International Airport and Al Maktoum International Airport as a precautionary measure while the situation stabilizes. Travelers have been advised to check with their airlines before heading to the airport, as schedules may change at short notice depending on safety assessments and airspace availability. Emirates said priority would be given to passengers who already held confirmed bookings before the disruption. The airline also urged customers not to travel to the airport unless they had received direct confirmation that their flight would operate. According to the airline, most services remain suspended until further notice as authorities continue to monitor regional developments. The disruption followed military strikes involving the United States, Israel, and Iran, which led to the temporary closure of large sections of Middle East airspace. The shutdown affected not only flights to the region but also international routes that normally pass through the area, leaving hundreds of thousands of passengers stranded worldwide. Dubai, one of the busiest global aviation hubs, experienced significant delays as airlines were forced to reroute or cancel long-haul flights. Israeli carrier El Al announced that it is exploring alternative options to bring stranded citizens home, including the possible use of chartered aircraft from European locations to nearby destinations such as Taba in Egypt or Aqaba in Jordan. The airline said the plan would require approval from government authorities before it could proceed. Abu Dhabi-based Etihad Airways also confirmed temporary suspension of commercial services, stating that flights to and from the city would remain halted until midweek. The airline noted that certain cargo and repatriation flights may continue under strict safety protocols as authorities gradually reopen regional airspace. Airlines across the region are continuing to assess conditions before fully restoring normal schedules, with officials emphasizing that passenger safety remains the primary concern while tensions in the region persist.
Emirates Resumes Limited Flights After Middle East Airspace Disruptions
Air travel operations in parts of the Middle East showed early signs of recovery after several airlines announced limited service resumption following widespread disruptions caused by recent regional strikes. Dubai-based Emirates confirmed it received approval from local authorities to restart a limited number of flights, with operations expected to begin Monday evening. The decision comes after thousands of flights were canceled over the weekend due to airspace closures across multiple countries in the region. Authorities in Dubai stated that only a small number of flights would be allowed to operate from Dubai International Airport and Al Maktoum International Airport as a precautionary measure while the situation stabilizes. Travelers have been advised to check with their airlines before heading to the airport, as schedules may change at short notice depending on safety assessments and airspace availability. Emirates said priority would be given to passengers who already held confirmed bookings before the disruption. The airline also urged customers not to travel to the airport unless they had received direct confirmation that their flight would operate. According to the airline, most services remain suspended until further notice as authorities continue to monitor regional developments. The disruption followed military strikes involving the United States, Israel, and Iran, which led to the temporary closure of large sections of Middle East airspace. The shutdown affected not only flights to the region but also international routes that normally pass through the area, leaving hundreds of thousands of passengers stranded worldwide. Dubai, one of the busiest global aviation hubs, experienced significant delays as airlines were forced to reroute or cancel long-haul flights. Israeli carrier El Al announced that it is exploring alternative options to bring stranded citizens home, including the possible use of chartered aircraft from European locations to nearby destinations such as Taba in Egypt or Aqaba in Jordan. The airline said the plan would require approval from government authorities before it could proceed. Abu Dhabi-based Etihad Airways also confirmed temporary suspension of commercial services, stating that flights to and from the city would remain halted until midweek. The airline noted that certain cargo and repatriation flights may continue under strict safety protocols as authorities gradually reopen regional airspace. Airlines across the region are continuing to assess conditions before fully restoring normal schedules, with officials emphasizing that passenger safety remains the primary concern while tensions in the region persist.
Iran condemns school attack as UN meets over US-Israel strikes
Iranian President Masoud Pezeshkian strongly condemned what he described as a barbaric attack on a school in southern Iran on Saturday, following a series of strikes carried out by the United States and Israel that have intensified the ongoing conflict in the Middle East. In an official statement, Pezeshkian said the incident marked another dark chapter in what he called a pattern of aggression against the country, and warned that the violence could further destabilize the region. According to Iranian authorities, at least 63 people were killed in the attack, with dozens more injured, making it one of the deadliest incidents reported since the latest escalation began. Israeli officials stated that the strikes were aimed at high-level targets connected to Iran’s leadership and military planning. A military spokesperson said multiple locations where senior Iranian figures had gathered were hit simultaneously, resulting in the elimination of individuals considered critical to the country’s campaign management and governance. The strikes were described as part of a broader effort to weaken Iran’s operational capabilities, though details about those killed were not immediately confirmed by independent sources. The developments prompted urgent diplomatic activity at the United Nations, where the security council scheduled an emergency session in New York to address the growing crisis. Diplomats said the meeting was requested by several member states, including Russia and China, who described the strikes as an act of armed aggression and called for immediate international discussion. France, Bahrain, and Colombia also supported the request, reflecting widespread concern over the risk of a wider regional war. United Nations Secretary-General Antonio Guterres is expected to address the council and has already urged all sides to halt military actions. In a statement issued earlier, he warned that continued use of force could undermine international peace and security and lead to severe consequences for civilians across the Middle East. Guterres called for an immediate ceasefire and a return to diplomatic negotiations, stressing that only dialogue could prevent the conflict from expanding further and threatening global stability.
Iran condemns school attack as UN meets over US-Israel strikes
Iranian President Masoud Pezeshkian strongly condemned what he described as a barbaric attack on a school in southern Iran on Saturday, following a series of strikes carried out by the United States and Israel that have intensified the ongoing conflict in the Middle East. In an official statement, Pezeshkian said the incident marked another dark chapter in what he called a pattern of aggression against the country, and warned that the violence could further destabilize the region. According to Iranian authorities, at least 63 people were killed in the attack, with dozens more injured, making it one of the deadliest incidents reported since the latest escalation began. Israeli officials stated that the strikes were aimed at high-level targets connected to Iran’s leadership and military planning. A military spokesperson said multiple locations where senior Iranian figures had gathered were hit simultaneously, resulting in the elimination of individuals considered critical to the country’s campaign management and governance. The strikes were described as part of a broader effort to weaken Iran’s operational capabilities, though details about those killed were not immediately confirmed by independent sources. The developments prompted urgent diplomatic activity at the United Nations, where the security council scheduled an emergency session in New York to address the growing crisis. Diplomats said the meeting was requested by several member states, including Russia and China, who described the strikes as an act of armed aggression and called for immediate international discussion. France, Bahrain, and Colombia also supported the request, reflecting widespread concern over the risk of a wider regional war. United Nations Secretary-General Antonio Guterres is expected to address the council and has already urged all sides to halt military actions. In a statement issued earlier, he warned that continued use of force could undermine international peace and security and lead to severe consequences for civilians across the Middle East. Guterres called for an immediate ceasefire and a return to diplomatic negotiations, stressing that only dialogue could prevent the conflict from expanding further and threatening global stability.
PM Modi Endorses Gaza Peace Plan in Israel, Stresses Humanity Over Conflict
Prime Minister Narendra Modi, during his visit to Israel, has strongly reiterated India's stance on the Gaza issue, emphasizing that humanity must never fall victim to conflict. Speaking at a joint press briefing with Israeli Prime Minister Benjamin Netanyahu, PM Modi expressed India's unwavering support for the Gaza Peace Plan, which was endorsed by the United Nations Security Council (UNSC). He stated that the plan creates a pathway toward peace in the region and reinforced India's commitme
PM Modi Endorses Gaza Peace Plan in Israel, Stresses Humanity Over Conflict
Prime Minister Narendra Modi, during his visit to Israel, has strongly reiterated India's stance on the Gaza issue, emphasizing that humanity must never fall victim to conflict. Speaking at a joint press briefing with Israeli Prime Minister Benjamin Netanyahu, PM Modi expressed India's unwavering support for the Gaza Peace Plan, which was endorsed by the United Nations Security Council (UNSC). He stated that the plan creates a pathway toward peace in the region and reinforced India's commitme
Delhi To Host First International Film Festival 2026 With 125+ Global Films
Delhi is set to make a significant mark on the global cinema map as it prepares to host its first-ever International Film Festival Delhi (IFFD) from March 25 to March 31, 2026. Announced by Delhi Chief Minister Rekha Gupta, the festival will showcase more than 125 Indian and international films across multiple prestigious venues in the capital. This landmark event reflects Delhi’s growing ambition to become a major hub for cinema, culture, and creative collaboration. The curtain raiser for
Delhi To Host First International Film Festival 2026 With 125+ Global Films
Delhi is set to make a significant mark on the global cinema map as it prepares to host its first-ever International Film Festival Delhi (IFFD) from March 25 to March 31, 2026. Announced by Delhi Chief Minister Rekha Gupta, the festival will showcase more than 125 Indian and international films across multiple prestigious venues in the capital. This landmark event reflects Delhi’s growing ambition to become a major hub for cinema, culture, and creative collaboration. The curtain raiser for
Narendra Modi receives rare honours from both Israel and Palestine
Prime Minister Narendra Modi was on Wednesday conferred with the prestigious Speaker of the Knesset Medal, marking a significant milestone in India-Israel relations. The honour, considered the highest award of Israel’s Parliament, was presented in recognition of Modi’s exceptional contribution to strengthening the strategic partnership between the two nations. Knesset Speaker Amir Ohana presented the medal to the Indian prime minister following his address to the Israeli Parliam
Narendra Modi receives rare honours from both Israel and Palestine
Prime Minister Narendra Modi was on Wednesday conferred with the prestigious Speaker of the Knesset Medal, marking a significant milestone in India-Israel relations. The honour, considered the highest award of Israel’s Parliament, was presented in recognition of Modi’s exceptional contribution to strengthening the strategic partnership between the two nations. Knesset Speaker Amir Ohana presented the medal to the Indian prime minister following his address to the Israeli Parliam
India issues advisory for nationals amid ongoing violence in Mexico
India has issued a fresh advisory for its citizens residing in or travelling to Mexico following reports of ongoing clashes and heightened security operations in several regions of the country. The Indian Embassy in Mexico City released the alert on Sunday, urging Indian nationals to exercise extreme caution and limit their movement until the situation stabilizes. According to the advisory shared by the embassy, individuals currently in Jalisco state, including Puerto Vallarta, Chap
India issues advisory for nationals amid ongoing violence in Mexico
India has issued a fresh advisory for its citizens residing in or travelling to Mexico following reports of ongoing clashes and heightened security operations in several regions of the country. The Indian Embassy in Mexico City released the alert on Sunday, urging Indian nationals to exercise extreme caution and limit their movement until the situation stabilizes. According to the advisory shared by the embassy, individuals currently in Jalisco state, including Puerto Vallarta, Chap
Trump considering limited military strike on Iran amid stalled nuclear talks
US President Donald Trump has said he is considering a limited military strike on Iran if ongoing negotiations over Tehran’s nuclear programme fail to result in a final agreement, raising fresh concerns about escalating tensions in the Middle East. The remarks followed a second round of high-level talks in Geneva that concluded without a comprehensive deal, despite what officials described as a technical breakthrough in certain areas of discussion. While negotiators appeared to narrow differen
Trump considering limited military strike on Iran amid stalled nuclear talks
US President Donald Trump has said he is considering a limited military strike on Iran if ongoing negotiations over Tehran’s nuclear programme fail to result in a final agreement, raising fresh concerns about escalating tensions in the Middle East. The remarks followed a second round of high-level talks in Geneva that concluded without a comprehensive deal, despite what officials described as a technical breakthrough in certain areas of discussion. While negotiators appeared to narrow differen
Global reaction after Supreme Court rules Trump exceeded tariff authority
World leaders and policymakers reacted quickly on Friday after the Supreme Court of the United States ruled that President Donald Trump exceeded his legal authority by imposing sweeping global tariffs, a decision that effectively blocks a key component of his trade policy agenda. The ruling has prompted governments and market observers worldwide to evaluate the potential consequences for international trade, economic stability, and future US trade relations. Speaking at a White House breakfa
Global reaction after Supreme Court rules Trump exceeded tariff authority
World leaders and policymakers reacted quickly on Friday after the Supreme Court of the United States ruled that President Donald Trump exceeded his legal authority by imposing sweeping global tariffs, a decision that effectively blocks a key component of his trade policy agenda. The ruling has prompted governments and market observers worldwide to evaluate the potential consequences for international trade, economic stability, and future US trade relations. Speaking at a White House breakfa
Trump announces $10 billion US pledge to Gaza peace board
President Donald Trump on Thursday announced that the United States will contribute $10 billion to the newly formed Board of Peace, a central element of his 20-point plan aimed at stabilising and rebuilding Gaza. Speaking at the board’s inaugural meeting in Washington, Trump told representatives from nearly 50 countries that the United States intended to play a leading financial role in the initiative, though questions remain about how the funding will be sourced amid the administration’s
Trump announces $10 billion US pledge to Gaza peace board
President Donald Trump on Thursday announced that the United States will contribute $10 billion to the newly formed Board of Peace, a central element of his 20-point plan aimed at stabilising and rebuilding Gaza. Speaking at the board’s inaugural meeting in Washington, Trump told representatives from nearly 50 countries that the United States intended to play a leading financial role in the initiative, though questions remain about how the funding will be sourced amid the administration’s
IAEA chief warns of urgency in US-Iran nuclear deal talks
The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the narrowing window for diplomacy between the United States and Iran, emphasizing the urgent need for an agreement to prevent further military escalation. His remarks come as concerns grow over Iran’s enriched nuclear material, which he said remains largely intact despite US strikes on key facilities last year. Speaking in an interview with French broadcaster TF1, Grossi stressed tha
IAEA chief warns of urgency in US-Iran nuclear deal talks
The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the narrowing window for diplomacy between the United States and Iran, emphasizing the urgent need for an agreement to prevent further military escalation. His remarks come as concerns grow over Iran’s enriched nuclear material, which he said remains largely intact despite US strikes on key facilities last year. Speaking in an interview with French broadcaster TF1, Grossi stressed tha
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
Russia dismisses US tariff threats while exploring oil support for Cuba
Russia has dismissed recent U.S. threats of tariffs on countries supplying oil to Cuba, while stating it is exploring ways to assist the Caribbean nation amid a deepening fuel shortage. Kremlin spokesperson Dmitry Peskov said the government seeks “constructive dialogue” with the United States regarding Cuba’s critical energy needs but stressed that public disputes over the matter are being avoided. He highlighted that Russia’s current trade with Cuba is limited, reducing the likelihood o
Russia dismisses US tariff threats while exploring oil support for Cuba
Russia has dismissed recent U.S. threats of tariffs on countries supplying oil to Cuba, while stating it is exploring ways to assist the Caribbean nation amid a deepening fuel shortage. Kremlin spokesperson Dmitry Peskov said the government seeks “constructive dialogue” with the United States regarding Cuba’s critical energy needs but stressed that public disputes over the matter are being avoided. He highlighted that Russia’s current trade with Cuba is limited, reducing the likelihood o
Russia warns of countermeasures over Greenland militarisation
Russia has warned that it will respond with military countermeasures if Western nations expand their security presence in Greenland, escalating tensions around the strategically important Arctic territory and widening strains between Moscow, Washington and European capitals. Speaking to Russian lawmakers on Wednesday, Foreign Minister Sergei Lavrov said any move to militarise Greenland or establish military capabilities that could threaten Russia would prompt trigger a proportional
Russia warns of countermeasures over Greenland militarisation
Russia has warned that it will respond with military countermeasures if Western nations expand their security presence in Greenland, escalating tensions around the strategically important Arctic territory and widening strains between Moscow, Washington and European capitals. Speaking to Russian lawmakers on Wednesday, Foreign Minister Sergei Lavrov said any move to militarise Greenland or establish military capabilities that could threaten Russia would prompt trigger a proportional
China signals support for India’s UNSC bid amid renewed diplomatic engagement
China has said it understands and respects India’s aspiration for permanent membership of the United Nations Security Council, marking a notable shift in tone as the two Asian powers work to stabilise relations after several years of tension. The statement came during high-level diplomatic talks in New Delhi and is being viewed as a cautious but significant gesture aimed at rebuilding trust between the neighbours. China’s Executive Vice Foreign Minister Ma Zhaoxu conveyed the po
China signals support for India’s UNSC bid amid renewed diplomatic engagement
China has said it understands and respects India’s aspiration for permanent membership of the United Nations Security Council, marking a notable shift in tone as the two Asian powers work to stabilise relations after several years of tension. The statement came during high-level diplomatic talks in New Delhi and is being viewed as a cautious but significant gesture aimed at rebuilding trust between the neighbours. China’s Executive Vice Foreign Minister Ma Zhaoxu conveyed the po
PM Modi expresses gratitude to Trump after US cuts tariffs on Indian goods
Prime Minister Narendra Modi on Monday welcomed a significant reduction in tariffs on Indian exports to the United States following an announcement by US President Donald Trump that the two countries had reached a bilateral trade agreement aimed at lowering reciprocal duties. Under the new arrangement, tariffs on Made in India products entering the US market will be reduced to 18%, marking a notable shift in trade relations between the two major economies. The agreement also provide
PM Modi expresses gratitude to Trump after US cuts tariffs on Indian goods
Prime Minister Narendra Modi on Monday welcomed a significant reduction in tariffs on Indian exports to the United States following an announcement by US President Donald Trump that the two countries had reached a bilateral trade agreement aimed at lowering reciprocal duties. Under the new arrangement, tariffs on Made in India products entering the US market will be reduced to 18%, marking a notable shift in trade relations between the two major economies. The agreement also provide
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.
Palestine seeks India’s support for peace and reconstruction amid West Asia tensions
With renewed calls for peace, reconstruction, and an end to prolonged conflict, Dr. Varsen Aghabekian Shahin, Minister of Foreign Affairs and Expatriates of the State of Palestine, is on her first official visit to India. Speaking to journalists in New Delhi on Thursday, she stressed the urgency of achieving Palestinian statehood, arguing that lasting peace in West Asia cannot be realised without ending occupation and restoring sovereignty to the Palestinian people. Dr. Shahin highl
Palestine seeks India’s support for peace and reconstruction amid West Asia tensions
With renewed calls for peace, reconstruction, and an end to prolonged conflict, Dr. Varsen Aghabekian Shahin, Minister of Foreign Affairs and Expatriates of the State of Palestine, is on her first official visit to India. Speaking to journalists in New Delhi on Thursday, she stressed the urgency of achieving Palestinian statehood, arguing that lasting peace in West Asia cannot be realised without ending occupation and restoring sovereignty to the Palestinian people. Dr. Shahin highl









