Google Pixel 10 Series Launch: Everything Coming on August 20
Russian Deputy Foreign Minister Sergey Ryabkov clarified that BRICS nations don't aim to replace the US dollar, but rather seek alternatives for mutual settlements to circumvent US sanctions. He stated BRICS intends to trade in national currencies, with Russia already conducting 90% of payments with partners in local denominations. This counters US President Trump's concerns and threats of tariffs on BRICS countries, who are also developing "BRICS Pay," a decentralized blockchain payment system for cross-border transactions.
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India Today
13 minutes ago
- India Today
Stop fuelling Russia's aggression: US warns China at UN over Ukraine war
Tensions flared between the United States and China at the United Nations Security Council meeting on Friday, as Washington accused Beijing of aiding Russia's war in Ukraine through the export of dual-use goods, while China refuted the claims and warned against US Ambassador to the UN, Dorothy Shea, urged countries, specifically naming China, to halt exports that contribute to Russia's military capabilities, including components found in drones and missiles used against claim to have implemented strong export controls on dual-use goods falls apart in the face of daily recovery of Chinese-produced components in the drones, weapons, and vehicles that Russia uses against Ukraine,' Shea told the 15-member Security Council. She emphasised that the continued flow of such goods to Russia helps its missile and drone attacks, and undermines global efforts to curb the conflict. 'If China is sincere in calling for peace, it should stop fuelling Russia's aggression,' Shea in turn, pushed back strongly against the accusations. China's deputy UN Ambassador Geng Shuang defended Beijing's stance, asserting that China has maintained strict controls and has not contributed weapons to the conflict.'China did not start the war in Ukraine, is not a party to the conflict, has never provided lethal weapons, and has always 'strictly controlled dual-use materials, including the export of drones,'' Geng also criticised the US for deflecting responsibility, saying, 'We urge the US to stop shifting blame on the Ukraine issue or creating confrontation and instead play a more constructive role in promoting ceasefire and peace talks.'Earlier, an investigation by news agency Reuters revealed that Chinese-made engines have been secretly routed to a Russian state-owned drone manufacturer under the guise of "industrial refrigeration units" in an attempt to bypass Western sanctions.- EndsWith inputs from ReutersMust Watch
Mint
13 minutes ago
- Mint
US yields reverse course to trade lower ahead of Fed, trade talks
Investors brace for Fed meeting, tariff deadline Labor market update, GDP data on deck next week Treasury refunding announcement could move bond market (Adds context, graphic, analyst comments; updates yields) NEW YORK, July 25 (Reuters) - U.S. Treasury prices rose on Friday in a subdued trading session, as investors prepared for a data-heavy week, updates on U.S. trade talks and a Federal Reserve policy meeting. The U.S. central bank is expected to leave interest rates unchanged at its rate-setting meeting next week, but all eyes will be on Fed Chair Jerome Powell's remarks, as investors look for clues on whether rate cuts are on the horizon this year. A U.S. trade deal with Japan this week and expectations of a similar agreement with the European Union have eased market concerns ahead of President Donald Trump's August 1 tariff deadline, as the prospect of lower-than-feared import duties is largely seen as softening their economic impact. European Commission President Ursula von der Leyen will meet Trump on Sunday in Scotland, after EU officials and diplomats said they expected to reach a framework trade deal this weekend. Treasury yields, which move inversely to prices, were drifting higher earlier on Friday but changed direction over the course of the trading session, with no clear driver. "This week is one of those sleepy summer weeks that has very little to move Treasuries one way or the other and I think that's why you're seeing this slow move lower in yields," said Art Hogan, chief market strategist at B Riley Wealth. On the U.S. economic front, the only data release on Friday was the preliminary June reading of Durable Goods Orders, which came in better than forecast, even though new orders for key U.S.-manufactured capital goods unexpectedly fell in June, the Commerce Department's Census Bureau said. With fresh catalysts in short supply, the market earlier on Friday took its lead from Thursday's European Central Bank meeting, where policymakers kept interest rates steady and delivered a cautiously optimistic outlook on the economy, dimming hopes for further easing this year. "The ECB was nowhere as dovish as people expected and macro data hasn't been bad to say the least," said Slawomir Soroczynski, head of fixed income at Crown Agents Investment Management in London. Market risk appetite has remained intact despite Tesla's disappointing financial results earlier this week, added Soroczynski. U.S. stocks rose on Friday following record closes for the S&P 500 and the Nasdaq on Thursday. Trump clashed with Powell during a rare presidential visit to the U.S. central bank on Thursday, but said he did not intend to fire him, as he has frequently suggested he would. On Friday, he said he got the impression that the head of the U.S. central bank might be ready to lower interest rates. Benchmark 10-year Treasury yields declined by two basis points to 4.388%. Two-year yields, which more closely reflect expectations on monetary policy, were only marginally lower at 3.917%. Bond investors will get an update next week from the Treasury Department on its quarterly issuance plans. Analysts expect no changes to the auction sizes of notes and bonds at the July 30 refunding announcement, with the Treasury relying more heavily on Treasury bills to fund government budget deficits. However, the Treasury could expand the scope of its buyback program, which could be supportive for the long end of the Treasury yield curve. "If (Treasury Secretary Scott) Bessent doesn't meet the market's expectations for growing buybacks, a sharp selloff in Treasuries could ensue," said Ian Lyngen, an analyst at BMO Capital Markets, in a note. On deck next week, in addition to the Fed's meeting, there will also be second-quarter gross domestic product data and July Non-Farm Payrolls. (Reporting by Davide Barbuscia; Editing by Frances Kerry and Cynthia Osterman)
NDTV
42 minutes ago
- NDTV
'Why Isn't He Paying?' Trump's Golf Visit To Cost Scottish Taxpayers
Turnberry: It may not be typical golf attire, but one of the most ubiquitous outfits seen on US President Donald Trump 's golf course Friday ahead of his visit was the reflective yellow vest worn by Scottish police. The standard issue garb that is far removed from the traditional Turnberry tartan was highly visible on the dunes, the beaches and the grass as thousands of officers secured the course in advance of protests planned during the president's visit to two of his Scottish golf resorts. Trump was expected to arrive Friday evening to a mix of respect and ridicule. His visit requires a major police operation that will cost Scottish taxpayers millions of pounds as protests are planned over the weekend. The union representing officers is concerned they are already overworked and will be diverted from their normal duties and some residents are not happy about the cost. "Why isn't he paying for it himself? He's coming for golf, isn't he?" said Merle Fertuson, a solo protester in Edinburgh holding a hand-drawn cardboard sign that featured a foolishly grinning Trump likeness in a tuxedo. "It's got nothing whatsoever to do with public money, either US or UK" Policing for Trump's four-day visit to the UK in 2018 cost more than 14 million pounds ($19 million), according to Freedom of Information figures. That included more than 3 million pounds ($4 million) spent for his two-day golf trip to Turnberry, the historic course and hotel in southwest Scotland that he bought in 2014. Police Scotland would not discuss how many officers were being deployed for operational reasons and only said the costs would be "considerable." "The visit will require a significant police operation using local, national and specialist resources from across Police Scotland, supported by colleagues from other UK police forces as part of mutual aid arrangements," Assistant Chief Constable Emma Bond said. Scottish First Minister John Swinney said the visit would not be detrimental to policing. "It's nonsensical to say it won't impact it," said David Kennedy, general secretary of the Scottish Police Federation, the officers' union. Kennedy said he expects about 5,000 officers to take part in the operation. He said a force reduction in recent years has police working 12-hour shifts. Communities that are understaffed will be left behind with even fewer officers during Trump's visit. "We want the president of the United States to be able to come to Scotland. That's not what this is about," Kennedy said. "It's the current state of the police service and the numbers we have causes great difficulty." The Stop Trump Scotland group has planned demonstrations Saturday in Edinburgh, Aberdeen and Dumfries. The group encouraged people to "show Trump exactly what we think of him in Scotland." Trump should receive a much warmer welcome from UK Prime Minister Keir Starmer, who is expected to meet with him during the visit. Swinney, the left-leaning head of Scottish government and former Trump critic, also plans to meet with the president.
