California redistricting plan upheld after justices reject GOP appeal
The Supreme Court has cleared the way for California to use a newly approved congressional map that is expected to benefit Democrats in upcoming elections, rejecting an emergency appeal filed by state Republicans and backed by the Trump administration. The unsigned order, issued without explanation and with no noted dissents, leaves intact district boundaries that could alter the balance of power in several closely contested House races as the country moves toward high-stakes midterm contests
California redistricting plan upheld after justices reject GOP appeal
The Supreme Court has cleared the way for California to use a newly approved congressional map that is expected to benefit Democrats in upcoming elections, rejecting an emergency appeal filed by state Republicans and backed by the Trump administration. The unsigned order, issued without explanation and with no noted dissents, leaves intact district boundaries that could alter the balance of power in several closely contested House races as the country moves toward high-stakes midterm contests
US and China leaders hold extensive talks on oil, agriculture, and Taiwan issues
US President Donald Trump held an extended telephone conversation with Chinese President Xi Jinping on Wednesday, engaging in wide-ranging discussions that touched on trade ties, energy cooperation, agricultural purchases, and several pressing geopolitical concerns, according to remarks shared by the American leader. Posting about the exchange on his social media platform, Trump described the dialogue as “excellent,” emphasizing that the call was both lengthy and substantive. He
US and China leaders hold extensive talks on oil, agriculture, and Taiwan issues
US President Donald Trump held an extended telephone conversation with Chinese President Xi Jinping on Wednesday, engaging in wide-ranging discussions that touched on trade ties, energy cooperation, agricultural purchases, and several pressing geopolitical concerns, according to remarks shared by the American leader. Posting about the exchange on his social media platform, Trump described the dialogue as “excellent,” emphasizing that the call was both lengthy and substantive. He
US downs Iranian drone near carrier as nuclear talks hang in balance
Tensions between Iran and the United States intensified this week after the US military shot down an Iranian drone that it said approached the aircraft carrier USS Abraham Lincoln in an aggressive manner in the Arabian Sea. The incident came as both sides exchanged sharp warnings and cautious signals about a possible return to nuclear diplomacy, underscoring the fragile balance between confrontation and negotiation in the region. According to US officials, the drone was intercepted
US downs Iranian drone near carrier as nuclear talks hang in balance
Tensions between Iran and the United States intensified this week after the US military shot down an Iranian drone that it said approached the aircraft carrier USS Abraham Lincoln in an aggressive manner in the Arabian Sea. The incident came as both sides exchanged sharp warnings and cautious signals about a possible return to nuclear diplomacy, underscoring the fragile balance between confrontation and negotiation in the region. According to US officials, the drone was intercepted
Federal and Dallas officials outline joint crackdown on violent crime
Federal and local law enforcement leaders gathered Tuesday morning in Dallas to present a unified strategy aimed at addressing violent crime across the city and surrounding North Texas communities. The briefing, led by representatives from the Department of Justice and several investigative agencies, outlined ongoing enforcement efforts and emphasized closer coordination among federal, state and local authorities to disrupt criminal networks and improve public safety. Ryan Raybould, the United States Attorney for the Northern District of Texas, opened the press conference by describing violent crime as a top priority for federal prosecutors. He said the Justice Department is working alongside regional partners to pursue cases involving firearms offenses, drug trafficking, organized crime and repeat offenders. According to Raybould, combining investigative resources and intelligence-sharing has already strengthened cases brought before federal courts and increased the likelihood of long-term sentences for individuals responsible for serious offenses. Senior officials from multiple agencies attended the event, including Brian Garner, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives in Dallas; Joseph Tucker, Special Agent in Charge of the Drug Enforcement Administration; Jeremy Wright, Assistant Special Agent in Charge of the Federal Bureau of Investigation; Travis Pickard, Special Agent in Charge of Homeland Security Investigations; Christopher Altemus, Special Agent in Charge of IRS Criminal Investigation; and Major Eric Wilson of the Texas Department of Public Safety’s North Texas Criminal Investigation Division. Each agency highlighted its specific role in combating crime, from targeting illegal firearms and narcotics distribution to tracing financial crimes and dismantling trafficking operations. Garner said the ATF continues to focus on removing illegal guns from the streets and investigating firearm-related violence. Tucker noted that the DEA has increased operations against drug supply chains that often contribute to violent incidents, while Wright emphasized the FBI’s work in intelligence coordination and complex investigations involving gangs and organized groups. Pickard described HSI’s efforts to disrupt cross-border smuggling and related criminal enterprises, and Altemus explained how financial investigations conducted by IRS-CI help uncover money laundering tied to illegal activities. Dallas Police Chief Daniel Comeaux underscored the importance of partnerships between federal agents and local officers, calling collaboration essential to responding quickly to emerging threats. He said the department has seen benefits from joint task forces that allow investigators to share data and conduct targeted enforcement in neighborhoods experiencing higher crime rates. Officials said these efforts are intended not only to make arrests but also to deter future offenses and restore confidence among residents. Throughout the briefing, leaders stressed that sustained cooperation, combined with community engagement, remains central to their approach. They said continued operations, coordinated raids and prosecution strategies will aim to reduce violence, hold offenders accountable and improve safety across Dallas and the wider Texas region.
Federal and Dallas officials outline joint crackdown on violent crime
Federal and local law enforcement leaders gathered Tuesday morning in Dallas to present a unified strategy aimed at addressing violent crime across the city and surrounding North Texas communities. The briefing, led by representatives from the Department of Justice and several investigative agencies, outlined ongoing enforcement efforts and emphasized closer coordination among federal, state and local authorities to disrupt criminal networks and improve public safety. Ryan Raybould, the United States Attorney for the Northern District of Texas, opened the press conference by describing violent crime as a top priority for federal prosecutors. He said the Justice Department is working alongside regional partners to pursue cases involving firearms offenses, drug trafficking, organized crime and repeat offenders. According to Raybould, combining investigative resources and intelligence-sharing has already strengthened cases brought before federal courts and increased the likelihood of long-term sentences for individuals responsible for serious offenses. Senior officials from multiple agencies attended the event, including Brian Garner, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives in Dallas; Joseph Tucker, Special Agent in Charge of the Drug Enforcement Administration; Jeremy Wright, Assistant Special Agent in Charge of the Federal Bureau of Investigation; Travis Pickard, Special Agent in Charge of Homeland Security Investigations; Christopher Altemus, Special Agent in Charge of IRS Criminal Investigation; and Major Eric Wilson of the Texas Department of Public Safety’s North Texas Criminal Investigation Division. Each agency highlighted its specific role in combating crime, from targeting illegal firearms and narcotics distribution to tracing financial crimes and dismantling trafficking operations. Garner said the ATF continues to focus on removing illegal guns from the streets and investigating firearm-related violence. Tucker noted that the DEA has increased operations against drug supply chains that often contribute to violent incidents, while Wright emphasized the FBI’s work in intelligence coordination and complex investigations involving gangs and organized groups. Pickard described HSI’s efforts to disrupt cross-border smuggling and related criminal enterprises, and Altemus explained how financial investigations conducted by IRS-CI help uncover money laundering tied to illegal activities. Dallas Police Chief Daniel Comeaux underscored the importance of partnerships between federal agents and local officers, calling collaboration essential to responding quickly to emerging threats. He said the department has seen benefits from joint task forces that allow investigators to share data and conduct targeted enforcement in neighborhoods experiencing higher crime rates. Officials said these efforts are intended not only to make arrests but also to deter future offenses and restore confidence among residents. Throughout the briefing, leaders stressed that sustained cooperation, combined with community engagement, remains central to their approach. They said continued operations, coordinated raids and prosecution strategies will aim to reduce violence, hold offenders accountable and improve safety across Dallas and the wider Texas region.
Potomac river freezes as police warn D.C. residents about deadly ice danger
WASHINGTON — A prolonged stretch of frigid temperatures has gripped the Washington, D.C., region, leaving portions of the Potomac River covered in ice and prompting renewed safety warnings from local authorities who say the frozen surface is far more dangerous than it appears. Officials report that the recent cold snap has caused sections of the river near the Georgetown waterfront to freeze over, creating the illusion of a solid walking surface. Police say they have already recei
Potomac river freezes as police warn D.C. residents about deadly ice danger
WASHINGTON — A prolonged stretch of frigid temperatures has gripped the Washington, D.C., region, leaving portions of the Potomac River covered in ice and prompting renewed safety warnings from local authorities who say the frozen surface is far more dangerous than it appears. Officials report that the recent cold snap has caused sections of the river near the Georgetown waterfront to freeze over, creating the illusion of a solid walking surface. Police say they have already recei
Green card holders barred from SBA small business loans under new US rules
Green card holders will no longer be eligible for government-backed small business loans in the United States beginning March 1, 2026, following a policy change by the US Small Business Administration that tightens citizenship and residency requirements for borrowers. The revised rules limit access to key SBA lending programs exclusively to US citizens and nationals who maintain their principal residence within the country or its territories, effectively barring lawful permanent residents from participation. According to an official policy notice issued in early February, the agency updated its Standard Operating Procedure 50 10 8, the framework that governs lender and development company loan programs. The revision rescinds earlier procedural guidance that permitted limited ownership by foreign nationals or certain residents living outside the United States. Under the new language, every direct and indirect owner of a small business applicant must meet the citizenship criteria. The SBA said the updated rules require 100 percent of ownership interests in any applicant or borrowing entity to be held by eligible US citizens or nationals. As a result, even minority ownership by a legal permanent resident will disqualify a company from receiving SBA-backed financing. The policy applies broadly to applicants, operating companies, and entities tied to the loan structure, leaving little flexibility for mixed-ownership businesses. The change is expected to affect a wide range of small and early-stage firms that rely on SBA loans for working capital, equipment purchases, and expansion. Many startups and family-owned enterprises depend on these lending programs because they offer lower interest rates and government guarantees that make financing more accessible. With the new restrictions in place, businesses that include green card holders among their owners may need to reconsider ownership arrangements or seek alternative sources of credit from private lenders. Agency officials indicated that the revisions align loan eligibility standards with existing federal regulations and a recent executive directive emphasizing stricter residency compliance. The policy will take effect for all new applications submitted on or after the effective date. Existing and prospective borrowers are being advised to review their ownership structures carefully to ensure continued eligibility under the updated requirements. The move marks a significant shift in how federal small business lending programs define qualification, narrowing access to public funds and reshaping the financing landscape for immigrant entrepreneurs. As the implementation date approaches, legal and financial advisers expect increased demand for guidance from affected business owners who must evaluate their options within the new framework.
Green card holders barred from SBA small business loans under new US rules
Green card holders will no longer be eligible for government-backed small business loans in the United States beginning March 1, 2026, following a policy change by the US Small Business Administration that tightens citizenship and residency requirements for borrowers. The revised rules limit access to key SBA lending programs exclusively to US citizens and nationals who maintain their principal residence within the country or its territories, effectively barring lawful permanent residents from participation. According to an official policy notice issued in early February, the agency updated its Standard Operating Procedure 50 10 8, the framework that governs lender and development company loan programs. The revision rescinds earlier procedural guidance that permitted limited ownership by foreign nationals or certain residents living outside the United States. Under the new language, every direct and indirect owner of a small business applicant must meet the citizenship criteria. The SBA said the updated rules require 100 percent of ownership interests in any applicant or borrowing entity to be held by eligible US citizens or nationals. As a result, even minority ownership by a legal permanent resident will disqualify a company from receiving SBA-backed financing. The policy applies broadly to applicants, operating companies, and entities tied to the loan structure, leaving little flexibility for mixed-ownership businesses. The change is expected to affect a wide range of small and early-stage firms that rely on SBA loans for working capital, equipment purchases, and expansion. Many startups and family-owned enterprises depend on these lending programs because they offer lower interest rates and government guarantees that make financing more accessible. With the new restrictions in place, businesses that include green card holders among their owners may need to reconsider ownership arrangements or seek alternative sources of credit from private lenders. Agency officials indicated that the revisions align loan eligibility standards with existing federal regulations and a recent executive directive emphasizing stricter residency compliance. The policy will take effect for all new applications submitted on or after the effective date. Existing and prospective borrowers are being advised to review their ownership structures carefully to ensure continued eligibility under the updated requirements. The move marks a significant shift in how federal small business lending programs define qualification, narrowing access to public funds and reshaping the financing landscape for immigrant entrepreneurs. As the implementation date approaches, legal and financial advisers expect increased demand for guidance from affected business owners who must evaluate their options within the new framework.
Peter Mandelson to quit house of lords amid Epstein file revelations
Peter Mandelson has announced that he will step down from the United Kingdom’s House of Lords following fresh disclosures connecting him to convicted sex offender Jeffrey Epstein, a development that has prompted a government review and renewed scrutiny from law enforcement authorities. The former British ambassador to Washington informed parliamentary officials of his decision to retire from the unelected upper chamber earlier this week. The move was confirmed by the Speaker of th
Peter Mandelson to quit house of lords amid Epstein file revelations
Peter Mandelson has announced that he will step down from the United Kingdom’s House of Lords following fresh disclosures connecting him to convicted sex offender Jeffrey Epstein, a development that has prompted a government review and renewed scrutiny from law enforcement authorities. The former British ambassador to Washington informed parliamentary officials of his decision to retire from the unelected upper chamber earlier this week. The move was confirmed by the Speaker of th
US fighter jet downs Iranian drone near aircraft carrier in Arabian Sea
A United States Navy fighter jet shot down an Iranian drone after it approached an American aircraft carrier operating in the Arabian Sea, according to US Central Command, marking the latest escalation in a period of heightened military tensions across the Middle East. The incident occurred as the unmanned aircraft moved toward the USS Abraham Lincoln with what officials described as unclear intent, despite attempts by US forces to deter it. Military authorities said the drone “ag
US fighter jet downs Iranian drone near aircraft carrier in Arabian Sea
A United States Navy fighter jet shot down an Iranian drone after it approached an American aircraft carrier operating in the Arabian Sea, according to US Central Command, marking the latest escalation in a period of heightened military tensions across the Middle East. The incident occurred as the unmanned aircraft moved toward the USS Abraham Lincoln with what officials described as unclear intent, despite attempts by US forces to deter it. Military authorities said the drone “ag
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.
India Calls For Immediate Action After Gandhi Statue Vandalized And Stolen In Melbourne
In a shocking incident, a statue of Mahatma Gandhi was vandalized and stolen in Melbourne, sparking outrage both in India and abroad. The incident has drawn immediate attention from the Indian government, who has called for urgent action from the Australian authorities. The statue, which stood as a symbol of peace and non-violence, was reportedly cut and taken by unknown individuals in an act of desecration. The Indian government swiftly condemned the incident and expressed deep con
India Calls For Immediate Action After Gandhi Statue Vandalized And Stolen In Melbourne
In a shocking incident, a statue of Mahatma Gandhi was vandalized and stolen in Melbourne, sparking outrage both in India and abroad. The incident has drawn immediate attention from the Indian government, who has called for urgent action from the Australian authorities. The statue, which stood as a symbol of peace and non-violence, was reportedly cut and taken by unknown individuals in an act of desecration. The Indian government swiftly condemned the incident and expressed deep con
Democrat Taylor Rehmet flips Texas Senate District 9 in historic special runoff
Voters in Tarrant County delivered a significant political upset on Saturday by electing Democrat Taylor Rehmet to represent Texas Senate District 9 in a special runoff election, flipping a seat that had been controlled by Republicans for decades. Rehmet defeated Republican opponent Leigh Wambsganss with 5
Democrat Taylor Rehmet flips Texas Senate District 9 in historic special runoff
Voters in Tarrant County delivered a significant political upset on Saturday by electing Democrat Taylor Rehmet to represent Texas Senate District 9 in a special runoff election, flipping a seat that had been controlled by Republicans for decades. Rehmet defeated Republican opponent Leigh Wambsganss with 5
UK plans new military powers as rogue drone sightings near bases double
The number of reported sightings of rogue drones operating near military installations in the United Kingdom has more than doubled over the past year, raising fresh concerns over national security and prompting the government to consider significant changes to military powers. Official figures show that incidents increased from 126 in 2024 to 266 in 2025, representing a rise of more than 100 per cent and highlighting what ministers describe as an evolving and increasingly complex threat envir
UK plans new military powers as rogue drone sightings near bases double
The number of reported sightings of rogue drones operating near military installations in the United Kingdom has more than doubled over the past year, raising fresh concerns over national security and prompting the government to consider significant changes to military powers. Official figures show that incidents increased from 126 in 2024 to 266 in 2025, representing a rise of more than 100 per cent and highlighting what ministers describe as an evolving and increasingly complex threat envir
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
US and India agree on trade deal as tariffs are cut and oil strategy shifts
In a significant development affecting global trade and energy policy, United States President Donald Trump announced a bilateral trade agreement with Indian Prime Minister Narendra Modi following a direct telephone conversation on Monday. According to an official post shared by the US Ambassador to India on social media, the leaders discussed a range of strategic and economic issues, culminating in an accord that reduces key economic barriers between the two countries. In his publi
US and India agree on trade deal as tariffs are cut and oil strategy shifts
In a significant development affecting global trade and energy policy, United States President Donald Trump announced a bilateral trade agreement with Indian Prime Minister Narendra Modi following a direct telephone conversation on Monday. According to an official post shared by the US Ambassador to India on social media, the leaders discussed a range of strategic and economic issues, culminating in an accord that reduces key economic barriers between the two countries. In his publi
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.
Union Budget 2026 Impact: What Becomes Cheaper and Costlier for Indians
Union Budget 2026 was presented by Finance Minister Nirmala Sitharaman, marking her ninth consecutive budget and outlining the government’s commitment to inclusive growth. The budget is guided by three key kartavyas aimed at accelerating economic development while supporting the poor, underprivileged, and disadvantaged sections of society. While income tax payers were hoping for rebates or changes in standard deduction, the government chose to focus on indirect tax relief, healthcare afford
Union Budget 2026 Impact: What Becomes Cheaper and Costlier for Indians
Union Budget 2026 was presented by Finance Minister Nirmala Sitharaman, marking her ninth consecutive budget and outlining the government’s commitment to inclusive growth. The budget is guided by three key kartavyas aimed at accelerating economic development while supporting the poor, underprivileged, and disadvantaged sections of society. While income tax payers were hoping for rebates or changes in standard deduction, the government chose to focus on indirect tax relief, healthcare afford
Union Budget 2026 Live Updates From Parliament And Key Announcements
Union Budget 2026 is being presented live from Parliament, marking a significant moment in India’s economic calendar. Finance Minister Nirmala Sitharaman is delivering her ninth consecutive Union Budget, continuing a historic streak that reflects policy continuity and long-term fiscal planning. The budget session is being closely watched by policymakers, economists, businesses, and citizens across
Union Budget 2026 Live Updates From Parliament And Key Announcements
Union Budget 2026 is being presented live from Parliament, marking a significant moment in India’s economic calendar. Finance Minister Nirmala Sitharaman is delivering her ninth consecutive Union Budget, continuing a historic streak that reflects policy continuity and long-term fiscal planning. The budget session is being closely watched by policymakers, economists, businesses, and citizens across
India, Venezuela look to deepen ties after leadership change, PM Modi speaks to Rodríguez
Prime Minister Narendra Modi on Friday held a conversation with Venezuela’s Acting President Delcy Rodríguez, reaffirming India’s intention to deepen and expand cooperation across multiple sectors. The discussion marks a significant diplomatic engagement nearly a month after former Venezuelan President Nicolás Maduro was removed from power and taken into United States custody following a high-profile military operation. In a message shared on social media, Modi said both sides
India, Venezuela look to deepen ties after leadership change, PM Modi speaks to Rodríguez
Prime Minister Narendra Modi on Friday held a conversation with Venezuela’s Acting President Delcy Rodríguez, reaffirming India’s intention to deepen and expand cooperation across multiple sectors. The discussion marks a significant diplomatic engagement nearly a month after former Venezuelan President Nicolás Maduro was removed from power and taken into United States custody following a high-profile military operation. In a message shared on social media, Modi said both sides
DOJ publishes millions of pages in final Epstein files disclosure
The US Justice Department on Friday released more than three million additional pages of records tied to its investigation into convicted sex offender Jeffrey Epstein, marking what officials described as the final disclosure under the Epstein Files Transparency Act. The release includes thousands of videos and hundreds of thousands of images and concludes a lengthy document review process aimed at complying with congressional requirements for public disclosure. Speaking at a news co
DOJ publishes millions of pages in final Epstein files disclosure
The US Justice Department on Friday released more than three million additional pages of records tied to its investigation into convicted sex offender Jeffrey Epstein, marking what officials described as the final disclosure under the Epstein Files Transparency Act. The release includes thousands of videos and hundreds of thousands of images and concludes a lengthy document review process aimed at complying with congressional requirements for public disclosure. Speaking at a news co
Uncertainty grows over possible US action against Iran amid naval buildup
Uncertainty continues to surround Washington’s approach toward Tehran as President Donald Trump sends conflicting signals on whether the United States is moving closer to military action or renewed diplomacy with Iran. Speaking ahead of his first Cabinet meeting of 2026, the president indicated he was open to communication with Iranian leaders, even as the US expanded its military presence in West Asia and senior defense officials stressed readiness to act on presidential orders.
Uncertainty grows over possible US action against Iran amid naval buildup
Uncertainty continues to surround Washington’s approach toward Tehran as President Donald Trump sends conflicting signals on whether the United States is moving closer to military action or renewed diplomacy with Iran. Speaking ahead of his first Cabinet meeting of 2026, the president indicated he was open to communication with Iranian leaders, even as the US expanded its military presence in West Asia and senior defense officials stressed readiness to act on presidential orders.









