Author: News Desk

Germany: Germany is planning to cut its military aid to Ukraine nearly in half next year, reducing it from about $8.7 billion to around $4.4 billion, according to a draft budget approved by the government. Ukrainian financing, according to Finance Minister Christian Lindner, is “secure for the foreseeable future” because of a plan by the G7 group of wealthy countries to generate $50 billion in interest on Russian assets that have been frozen. After the United States, Germany is the second-largest military provider to Ukraine. Berlin has allocated over $8.25 billion for Kyiv in 2024. The proposed aid drop results…

United States: Technology stocks worldwide have dropped due to concerns over the global computer chip industry. The selloff was triggered by reports suggesting that the Joe Biden administration might further tighten restrictions on exports of semiconductor equipment to China. Adding more to the issue, former US President Donald Trump remarked that Taiwan, the leading producer of chips, should finance its defence. In the US, the tech-heavy Nasdaq index fell by 2.7 percent. Major chip stocks, including Nvidia and AMD, experienced significant losses in Europe and Asia. Nvidia closed 6.6 percent lower, while AMD saw a decline of over 10 percent.…

United States: US President Joe Biden has tested positive for COVID-19, causing him to cancel a campaign event in Las Vegas. There is growing pressure on him to withdraw from the re-election race due to his age. Biden, 81, is reportedly showing “mild symptoms,” according to White House Press Secretary Karine Jean-Pierre, who also said on Wednesday that he will travel to his Delaware home to “self-isolate and continue to carry out all of his duties fully.” According to Jean-Pierre, Biden intended to spend a long weekend at his beach property in Delaware. Shortly after the announcement, the president’s convoy…

Dhaka: Bangladesh has closed schools and universities indefinitely following violent protests over government job quotas that resulted in six deaths. University students have been long rallying against the reservation system, which allocates public sector jobs to the children of war heroes who fought in the 1971 independence war, as well as to women, ethnic minorities, and the disabled. One-third of government job posts are reserved for the children of war heroes, a system students argue is discriminatory and want to be replaced with merit-based recruitment. Clashes erupted in several cities, including Dhaka, between anti-quota protestors and supporters, particularly from the…

France: The French soccer federation will file a complaint with FIFA over “racist and discriminatory remarks” made by Argentina players in post-match chants about France’s team after their Copa América victory. In Miami Gardens, Florida, on Sunday, Argentina defeated Colombia 1-0. Argentina’s Enzo Fernandez, a midfielder for Chelsea, shared a video on Instagram that went viral on X, including the players pretending to sing about French players who are of African descent. Wesley Fofana, a defender for France and one of Fernandez’s Chelsea teammates, shared the Argentina team video on social media on Tuesday, labelling it as “uninhibited racism.” Among…

United States: Billionaire Elon Musk has announced plans to relocate the corporate offices of two of his most well-known businesses, the social media platform X and the rocket company SpaceX, from California to Texas. Musk announced the decision in a post on X, citing the new California law that forbids transgender notification requirements in schools as the “final straw” and claiming that such laws “both families and companies.” He cited his objection to a recently passed state law in California that prohibits schools from requiring employees to tell parents or other parties about a student’s gender identity. He has been…

United States: Donald Trump’s decision to select Senator JD Vance as his running mate for the 2024 presidential election has been lauded as a “masterstroke” by Nigel Green, CEO of deVere Group, a leading global financial advisory and asset management firm, citing Vance’s strong advocacy for cryptocurrency. Trump’s nomination of Senator JD Vance of Ohio as his Vice-Presidential candidate follows months of speculation and positions the Republican nominee to challenge President Joe Biden and Vice President Kamala Harris. Nigel Green remarked that, “Vance, an outspoken supporter of Bitcoin and other digital currencies, represents a significant and strategic move in today’s…

La Paz: Bolivian President Luis Arce has announced the discovery of a vast natural gas reserve in the country’s administrative capital, La Paz. Luis Arce described the discovery as the largest find in nearly two decades and would considerably help the financially struggling nation. A ‘Mega Field,’ estimated to contain approximately 1.7 trillion cubic meters of gas with a market value of $6.8 billion has been discovered from the trove, located just north of the capital. The field, named Mayaya X-1, is seen as a potential revival for Bolivia’s gas industry, which was the driving force behind the country’s economic…

United Kingdom: Jonathan Reynolds, the new Business and Trade Secretary, will tell a meeting of G7 ministers and businesses that the UK is back on the global stage and “open for business,” as per the report released by the British government. During his first foreign trip in the position, he will inform colleagues at the G7 Trade Ministerial Meeting in Italy that UK companies will be able to plan for consistent investment and economic growth over the next ten years thanks to a new, sensible global strategy. It’s part of the government’s strategy to establish a pro-business climate that encourages…

United States: The Russian antivirus giant Kaspersky Labs has announced its withdrawal from the US market after the Joe Biden administration banned the sale and distribution of its software. Kaspersky described the decision by the US administration as ‘sad and difficult.’ Commerce Secretary Gina Raimondo said that Moscow’s influence over the company posed a significant threat to US infrastructure and services. Kaspersky, which has operated in the US for two decades has denied the allegations. Effective July 20, 2024, Kaspersky will begin winding down its US operations and eliminating US-based positions. The company’s US website has already stopped selling its…