The BRICS Report

Newspaper offices have been targeted in a shooting in Maryland, United States. An immigration cloud hangs over Brussels ahead of the European Union (EU) Summit.  See omnystudio.com/listener for privacy information.

Bongani Bingwa speaks to Anjana Pasricha, Voice of America correspondentSee omnystudio.com/listener for privacy information.

Guest: Professor Victor Sonkin : Lecturer at Moscow State University and freelance Journalist See omnystudio.com/listener for privacy information.

A radiation cloud, and a mystery, from Russia is again raising alarms Last month, French and German radiation safety officials identified the southern Ural Mountain region, home of Mayak, as the likely source of a cloud of a radioactive isotope, ruthenium 106, that they detected wafting over Europe. The plant at Mayak reprocesses spent fuel and produces isotopes.See omnystudio.com/listener for privacy information.

While Brazil’s economy as a whole is barely growing, but its e-commerce sector is thriving.   Thousands of Brazilian workers and members of trade unions took to the streets of Sao Paulo in protest , decrying government austerity measures and new labour laws due to come into effect.   Seaborn Networks has announced plans to build a cable system to connect South Africa with Brazil and onward to the US, while interconnecting with another new system, the IOX Cable, which will run from South Africa to India, connecting various Indian Ocean islands along its route.See omnystudio.com/listener for privacy information.

Delhi is facing an air pollution crisis.   The LGBT community held its annual queer march parade in Delhi.   India is promoting a staple, simple dish as its brand food across the globe.See omnystudio.com/listener for privacy information.

China is churning out a new billionaire every 5 days The US might be the wealthiest country in the world, but it's not churning out the most billionaires. That title goes to China, which added 67 new billionaires in 2016, or one about every five days, according to a report on billionaires by UBS and PwC released Thursday. For the first time ever, Asia had more billionaires (637) than the US (538), the report found. Still, the US maintained a higher concentration of billionaire wealth, but Asia top that measure in the next three to four years.See omnystudio.com/listener for privacy information.

American President Donald Trump’s adviser, George Papadopoulos, has pleaded guilty to lying to the F.B.I. about meeting a Professor with close ties to the Russian government, highlight the coordination between the Trump campaign and Russian government’s meddling in the 2016 elections; and Kseniya Sobchak, a young glamorous woman, announced her decision to run for President.   See omnystudio.com/listener for privacy information.

Stephen speaks to Professor Lyal White about how Brazil is outperforming South Africa, how Mr. Jair Bolsonaro is the Donald Trump of Brazil and a new transportation app for women that is gaining momentum.  See omnystudio.com/listener for privacy information.

Stephen speaks to Dr Martin Davies  Managing Director for emerging Markets and Africa Deloitte about Sinopec no longer taking over Chevron/Caltex leaving Glencore to take a chance. China’s anti-corruption drive nets former Justice Minister and Alibaba’s latest retail offering live crabs in vending machines .  See omnystudio.com/listener for privacy information.

Russian President Vladimir Putin has dismissed the governor of Nizhny Novgorod Oblast, Valery Shantsev, the second regional leader to lose his job this week amid reports that more could go as the Kremlin gears up for a presidential election in March. The reports said that the planned shakeup was connected to preparations for the March 18, 2018, presidential election in which Putin is widely expected to seek and secure a fourth term even though he has not announced his candidacy.   A film about Russia’s last tsar has created violent tensions as erotic scenes shown in trailers have enraged religious conservatives in Russia, who call the film blasphemous for depicting Nicholas in love scenes with the teenage ballerina. The film depicts the true story of a love affair between the future Czar Nicholas II and a young ballerina, Matilda Kshesinskaya, in St. Petersburg’s famed Mariinsky Theatre.    Sputnik celebrating 60th anniversary. Sputnik 1 was launched on October 4, 1957 sixty years ago, and is regarded as the start of the US-Soviet space race. See omnystudio.com/listener for privacy information.

‘Super Wednesday’ Purge Snares Brazil’s Powerful Wednesday was a dramatic day for Brazil. It began with the arrest of Wesley Batista, the CEO of the world’s largest meat company, JBS SA. Then a former governor of Rio de Janeiro was yanked off-air by police mid-way through his morning radio show. In the afternoon, it was former President Luiz Inacio Lula da Silva’s turn to testify in court for a second time on corruption charges.See omnystudio.com/listener for privacy information.

Beijing’s new international airport has spent about 40% of its budget so far, or 30.8 billion yuan ($4.7 billion), as the massive facility gets set to take flight in 2019. The new airport, which will become the world’s largest by area, is located 46 kilometers (28.6 miles) south of Beijing’s city center.   A spike in sales of construction equipment, along with improved profitability at industrial enterprises and a hefty surge in the prices of raw materials such as coal and steel, is fuelling the debate about whether China has entered a new boom cycle. The latest positive indicator came from the excavating machinery branch of the China Construction Machinery Association, which announced that sales of excavators in China in the first eight months of the year rose by a massive 111.1 per cent year on year to 85,766.   The just-concluded summit of the BRICS, namely Brazil, Russia, India, China and South Africa,in Xiamen, China, highlights China's new initiative for adding new impetus for an open economy, multilateral trade that benefit the world as a whole. China has also put forward the "BRICS Plus" approach by inviting leaders of Egypt, Mexico, Thailand, Tajikistan and Guinea for a dialogue on the sidelines of BRICKS' summit held in Xiamen on Sept 3-5.See omnystudio.com/listener for privacy information.

A controversial Indian guru convicted of rape on Friday has been sentenced to 20 years in prison. Indian media reported that Gurmeet Ram Rahim Singh's followers set a vehicle alight just ahead of sentencing. The self-styled holy man was found guilty of sexually assaulting two female followers and jailed for 10 years for each, to run consecutively. And    India’s Supreme Court recently delivered an interesting judgment making privacy a fundamental right.  See omnystudio.com/listener for privacy information.

PetroSA signs $400m deal with Russian company The Russian-government owned geological company, Rosgeo, has landed a 400-million USD deal to develop oil and gas blocks off the Cape south coast.   Thousands in Russia's Chechnya protest for Burma's Rohingya Muslims   Tens of thousands of people have taken to the streets in Russia’s predominantly Muslim Chechnya to protest what the Chechen leader called “genocide of Muslims” in Myanmar. Myanmar’s security officials and Muslim Rohingya insurgents are accusing each other of atrocities in Myanmar’s Rakhine state, where nearly 400 people, most of them insurgents, have died in clashes.See omnystudio.com/listener for privacy information.

Former Brazilian president Luiz Inacio Lula da Silva told Reuters on Wednesday that his recent conviction for corruption might mean that his Workers Party will have to field a candidate other than him in next year’s election. Lula’s 2003-11 government lifted millions from poverty and polls show he is still one of Brazil’s most popular politicians.   Brazil scraps an Amazon Reserve to allow mining   The government of Brazil has abolished a vast national reserve bigger than the size of Denmark to open the area to commercial mineral exploration, drawing sharp criticism from environmentalists and political opponents. The area, which straddles the northern states of Amapa and Para, is thought to contain rich deposits of gold, iron, manganese and other minerals.   Brazil is looking to offload its Olympic facilities   Brazil will try once more to rid itself of part of Rio de Janeiro’s Olympic Park, after the city government failed to find a buyer last year, according to two people directly involved in the negotiations. In an effort to find an operator for the park, the ministry of sport will work with the state development bank, BNDES, to determine how the concession will be run.See omnystudio.com/listener for privacy information.

The Chinese government has made the move to serve notice on the country’s foreign investment spree in football clubs, skyscrapers and Hollywood as it moves to curb rising levels of debt among domestic companies.   South Africa has finally launched the African Regional Centre of the New Development Bank. In 2015, the New Development Bank was launched with the opening of the head office in Shanghai, China   Last year, Beijing banned any more "bizarre" buildings. Now, China's State Administration for Industry and Commerce has continued the government's crusade for normalcy with restrictions on such names as 'scared of wife' or 'prehistoric powers'.  See omnystudio.com/listener for privacy information.

India is marking the 70th anniversary of its freedom from British rule today.  It was in February 1947 that Prime Minister Clement Atlee announced the British government would grant India its independence and self-governance. How does the country measure its progress in these seven decades?   When British rulers divided the subcontinent into two nations, it prompted the greatest mass migration of people in history and unleashed a wave of violence that claimed more than a million lives. Seventy years have passed since the partition of India and Pakistan, and years on the partition and the violence that accompanied it continues to shape India and Pakistan.See omnystudio.com/listener for privacy information.

Former President Lula was sentenced to nearly 10 years for corruption…   The former president of Brazil, Luiz Inácio Lula da Silva, was found guilty of corruption and money laundering on Wednesday and sentenced to nearly 10 years in prison, a stunning setback for a politician who has wielded enormous influence across Latin America for decades. The case against Mr. da Silva, who raised Brazil’s profile on the world stage as president from 2003 to 2010, stemmed from charges that he and his wife illegally received about $1.1 million in improvements and expenses from a construction company for a beachfront apartment.   Only in Brazil: Congressman by day, Jailbird by night   For many politicians, a jail sentence means the end of your career, but not for lawmaker Celso Jacob. He still comes each day to Brazil’s National Congress straight from prison. Each morning he gets up at 5:00 am in the Papuda jail near Brasilia and waits for a car to take him to work. In the evening he returns and changes from his suit back into white prisoner’s overalls.   Brazil’s army is becoming a de facto police force   Brazil maintains the world’s 15th-biggest standing army, and spends more on defence than Israel does. The last time a big Brazilian city was attacked was in 1711, when a French corsair briefly captured Rio de Janeiro. The country’s official defence review states that “at present, Brazil has no enemies”See omnystudio.com/listener for privacy information.

China is boosting Ghana’s government’s ‘One District One Factory’ initiative with a funding facility worth up to $2 billion. And Over the next three years, local authorities in China are planning to build more than 900 airports for general aviation — the segment of the industry that includes crop dusting and tourism and Lastly China is shifting from exporting to importing,” Alibaba CEO Jack Ma said in Detroit on Wednesday.    See omnystudio.com/listener for privacy information.

China insists that India withdraw its troops from the disputed plateau on the Himalayan mountains. In what is the worst confrontation between the two countries in decades, the Chinese government says it will only enter into talks with India once its troops have been pulled back from the plateau.   And India is experiencing a rapidly growing robotics industry. This has seen more companies in India using automation technology. The World Bank warns that automation could put at least 70 percent of jobs in the country at risk.     Lastly, India has introduced a Goods and Services Tax (GST), the biggest tax reform in the country. The GST will transform India into a common market, making it easier to do business in the country by simplifying the tax structure and ensuring greater complianceSee omnystudio.com/listener for privacy information.

Tesla takes off in China   Both production and sales in new energy vehicles (NEVs) in China soared in May despite a cut in government subsidies, while the growth of the overall auto market remained tepid, industry data showed. It's safe to say that Tesla has emerged as one of the next powerhouses in the car market. That looks like it's going to continue thanks to one of the booming markets that desire the Tesla-style electric car, China   China’s college exam takers now have to compete against AI   Humans worried about being replaced by machines needn’t fret too much just yet, at least not if they’re among the thousands of anxious teenagers set to take China’s national college entrance exam, known as the “gaokao,” over the next two days. In what’s being billed as a first in China’s nearly 1,500-year-old exam-taking history, a robot powered by artificial intelligence, or AI, will sit the math portion of the test at a special session attended by scientists and reporters in Chengdu, capital of interior China’s Sichuan province  See omnystudio.com/listener for privacy information.

India has rejected U.S. President Donald Trump's comments that it had linked its accession to the Paris climate control accord to receiving foreign aid and said it was committed to protecting the environment on its own. An American exit could prompt other countries to withdraw from the pact or rethink their emissions pledges, making it much harder to achieve the agreement’s already difficult goal of limiting global warming to a manageable level. The Indian Space Research Organization (ISRO) launched its most powerful and heaviest rocket yet on Monday (June 5), called the Geosynchronous Satellite Launch Vehicle Mark III (GSLV MkIII). The new rocket lifted off from the Satish Dhawan Space Centre in Sriharikota, India, at 7:58 a.m. EDT (1158 GMT), successfully delivering the massive GSAT-19 communications satellite into orbit.See omnystudio.com/listener for privacy information.

Russian director receives a prestigious award at the Cannes Film Festival Renowned Russian director Andrey Zvyagintsev has been awarded the jury prize at the 70th Cannes Film Festival for his drama, 'Loveless' ('Nelyubov'). Acclaimed Spanish film director Pedro Almodovar presided over the jury panel this year.   Investigation into arrest of boy caught reading ‘Hamlet’ Russia's Investigative Committee has launched a pre-investigation check into the actions of police officers after a video of a crying boy being forcefully led away and shoved into a police car in central Moscow gained the attention of the online community and human rights advocates. The boy was reading 'Hamlet' out loud detained in Moscow. His parents were detained and citizens are questioning whether it is police brutality.   Russian students win the software programming competition in the US (again) A team of programmers from the St. Petersburg University of IT, Mechanics and Optics have once again won the annual ACM International Collegiate Programming Contest (ICPC), setting a new record with their 7th champions cup. The Champion Cup of 2017 was raised by Russian students of the department of computer technologies – Vladimir Smykalov, Ivan Belonogov and Ilya Zban.  See omnystudio.com/listener for privacy information.

Xolani Gwala speaks to director at the Centre for Dynamic Markets at Gordon Institute of Business Science, Prof Lyal White. See omnystudio.com/listener for privacy information.

A new scandal may force out Brazilian President Temer Brazilian President Michel Temer defied calls for his resignation Thursday, a day after a bombshell report alleged that he had been secretly recorded discussing bribe payments during an investigation into a sprawling corruption probe that has shredded the country’s political class. Speculation that Temer would step down intensified throughout the day, with Brazil’s highest court ordering an investigation and two members of Temer’s cabinet abruptly quitting.   South Africa and Brazil seek to elevate trade ties South African International Relations Minister, Maite Nkoana-Mashabane, on Monday hosted a high-level Brazilian delegation, led by newly-appointed External Relations Minister Aloysio Nunes Ferreira who is in Pretoria to strengthen existing relations. Nkoana-Mashabane and her Brazilian counterpart addressed media in Pretoria after a closed door meeting between the representatives of the two governments.   Brazil’s most beloved politician faces two possible outcomes: Prison or the Presidency. Luiz Inácio Lula da Silva, popularly known as Lula, guided the country through a honeymoon period of growth as president from 2003 through 2010. Today, he faces five trials for his alleged involvement in a $2 billion kickback scheme that has decimated Brazil’s political elite. If convicted, the 71-year-old could be imprisoned for the rest of his life. But Lula has a shot at an appealing alternative: the presidency.See omnystudio.com/listener for privacy information.

China Inc invest $400bn in the One Belt One Road initiative China’s three biggest state-owned banks provided a total of $225.4 billion (1.56 trillion yuan) in credits by the end of 2016 for projects in countries participating in President Xi Jinping’s One Belt, One Road initiative.   Boeing opens first international plant abroad in China Construction of Boeing’s first overseas facility as part of its 737 production system started yesterday in Zhoushan, a port city in Zhejiang Province. The construction will consist of two parts — a Boeing 737 completion center and a delivery center.   Government sets up a new Venture Capital US$2.6bn fund for new sectors China has launched a new national venture capital fund that will back up startup companies in new sectors of strategic importance, the Xinhua reported. The new fund has raised a total of 17.8 billion yuan ($2.6 billion) and was set up by the Ministry of Finance, the National Development and Reform Commission and the State Development & Investment Corp (SDIC), among others.See omnystudio.com/listener for privacy information.

India has banned the use of red lights on VIP vehicles India will ban ministers and senior officials from using red beacons on their cars to speed through traffic from the 1st May. Under the new rule, only emergency vehicles, ambulances, fire engines and police cars can use flashing blue lights.   4 convicted in fatal gang-rape get death penalty The Supreme Court judgment upholding death penalty for four men in the 2012 infamous gang rape case of a 23-year-old student that shocked the world. The court held that the nature of the crime, which triggered massive protests across India, made it a fit case for the death penalty. It described the assault as "most brutal, barbaric and diabolical," according to the Press Trust of India news agency. The victim's father said he was happy with the court judgment and demanded that the convicts be hanged quickly.See omnystudio.com/listener for privacy information.

Unhappiness around demise of Moscow’s 5-storey buildings Moscow citizens are worried about the mayor's program of tearing down five-floor houses. Moscow city authorities are to tear down about 8,000 blocks of flats built in the 1950s and 1960s in a major clearance programme that will involve rehousing 1.6 million people in the coming years, it's reported.   Navalny risks losing eye sight after chemical attack Alexey Navalny, Russia's most important opposition leader, was attacked with brilliant green (a medicine ointment) and risks losing sight in one eye. There were many similar attacks during the last couple of years.   Russian politicians increasingly disenchanted with Trump Russian politicians have responded to news Donald Trump’s National Security Advisor has resigned over communications with the country, accusing the President of “Russophobia”.See omnystudio.com/listener for privacy information.

Stephen Grootes  speaks to Dr Martyn Davies,Managing Director at Emerging Markets & Africa about China’s GDP first quarter growth at 6.9% . Chinese buyers fuel Brooklyn, NYC real estate boom and Chinese investors continue to buy into European soccer clubs now AC Milan .    See omnystudio.com/listener for privacy information.

St Petersburg terrorist blast At least 11 people were killed in a blast on the St Petersburg Metro Monday, three state-run Russian news agencies said. Russian Prime Minister Dmitry Medvedev described the attack as a "terrorist act." The explosion tore through a train as it was traveling between two stations in Russia's second-largest city. President Vladimir Putin, who had been in St. Petersburg earlier in the day, laid roses at a makeshift memorial with candles outside the bombed metro station.   Russia Arrests more Anti-Corruption Protesters Nearly 40 protesters were detained on Sunday as Russia’s youth continued to protest against corruption and lack of opportunities, media reported Monday.  The protests were significantly smaller than the massive demonstrations which hit over 90 cities in Russia a week before, prompting President Vladimir Putin to publicly reaffirm his commitment to fight corruption.   Russia’s PhD scandals In December 2015, a prominent member of Vladimir Putin's party was accused of plagiarising a large portion of his economic dissertation. This strange news story spurred Russian-born journalist Leon Neyfakh to investigate Russia's massive black market in plagiarism.See omnystudio.com/listener for privacy information.

A massive scandal in Brazil is hitting two Brazilian meat giants Food giants JBS SA and BRF SA took out full-page newspaper ads and paid for prime-time television spots to reassure consumers their meat is safe to eat after finding themselves at the centre of Brazil’s latest corruption probe. Both companies saw their share prices tumble for a second day after federal authorities announced Friday they’re investigating evidence producers bribed government officials to approve the sale of spoiled meat.   Inequality increased in Brazil and human development is slowing: UNDP UNDP report reveals how disparities in income, education, health and between men and women are slowing down progress in region and around the world Latin America’s strong growth in human development indicators over the last 25 years has been uneven and slow for disadvantaged groups, a UN body has found, saying that the inequality that reigns in the region has severely undermined progress.  See omnystudio.com/listener for privacy information.

Xolani speaks to Dr  Martyn Davies,Managing Director and  Emerging Markets & Africa about China seeking  to restrict overseas investment .President Paul Kagame of Rwanda visiting  China and  the Chinese customs seizing  luxury goods worth US$540m.See omnystudio.com/listener for privacy information.

Prime Minister Narendra Modi's huge mid-term victory in regional elections Indian Prime Minister Narendra Modi's Bharatiya Janata Party won a landslide victory in the politically crucial northern state of Uttar Pradesh, giving the Indian leader a huge boost half way through his term.   World’s heaviest woman in India for life-saving surgery Eman Ahmed Abd El Aty, who previously weighed around 500kg, had not left her house in Egypt in over two decades until arriving in Mumbai last month for bariatric surgery.   India launched most satellites in the world in a single launch An Indian PSLV rocket launched from Sriharikota, India, carrying a gigantic haul of satellites into space. The mission was confirmed to be successful by the Indian Space Research Organization just after 12AM ET on February 15th. On top of the vehicle were up to 104 satellites — the largest crop of satellites to ever launch on a single rocket at once.See omnystudio.com/listener for privacy information.

Public march in honor of opposition politician murdered two years ago took place in Moscow on Sunday Thousands of Russians marched through Moscow on Sunday shouting slogans such as "Russia will be free!" and "Putin is war!" to mark two years since opposition leader, Boris Nemtsov was gunned down outside the Kremlin. Nemtsov, a former deputy prime minister, was a fierce critic of President Vladimir Putin.   Young man sentenced for breaking the rules of demonstrations was set free by the Supreme Court Russian political activist Ildar Dadin has been released from prison, days after the Supreme Court overturned his conviction. The Presidium of Russia’s Supreme Court on February 22 set aside Dadin's conviction on charges of participating in multiple unsanctioned protests and ordered his release from custody.   Russia's Permanent Representative for the United Nations, Vitaly Churkin, dies suddenly Russian officials say its ambassador to the United Nations has died suddenly in New York City. Vitaly Churkin was 64. Russia’s deputy U.N. ambassador, Vladimir Safronkov, told The Associated Press that Churkin became ill in his office at Russia’s U.N. mission and was taken to Columbia Presbyterian Hospital, where he died Monday. A Russian Embassy spokesperson told CBS News that they believe Churkin died of a heart attack but they do not yet have official word on the cause of death.  See omnystudio.com/listener for privacy information.

Brand outlets hope weak pound, extra flights from China and easing of visa system will drive sales and fill the tills over the year of the rooster. Chinese shoppers are particularly good news for the UK’s retail sector as they are big spenders, spending an average of £2,174 each during their stay – about three and a half times the average of other visitors.   China’s new auto industry players have had to confront tough questions. Some had to decide between partnering with traditional automakers and focusing on complementary services such as auto-computer software, or taking the far-riskier but potentially more-lucrative road less traveled by building cars on their own. Electronics maker and video-streaming service provider LeEco, for example, decided to design and build its own electric cars from scratch, while e-commerce giant Alibaba Group Holding Ltd. chose to partner with traditional automakers.   The humble bicycle is seeing a revival in China as a new generation of startups help tackle urban congestion and pollution with fleets of brightly colored two wheelers. The bike-share concept has attracted huge venture capital as fledgling firms wrestle for market share. Such has been the success of this made-in-China business model, which is using smartphones to reignite the nation's passion for cycling, companies are hatching plans to export the idea worldwide.  See omnystudio.com/listener for privacy information.

Techies in India are worries that Trump's crackdown on immigration will include restrictions on so-called H-1B visas, which India's IT sector uses to send thousands of highly-skilled workers to America every year. Analysts say the issue also threatens to sour Trump and Indian Prime Minister Narendra Modi's burgeoning relationship. The leaders have extended mutual invitations to visit their respective countries but are heading for a clash on visas. The Ministry of Finance’s annual survey of the economy, released Tuesday, explores how the country might replace its various welfare programs with a universal basic income, or a uniform stipend paid to every adult and child, poor or rich. Guaranteeing all citizens enough income to cover their basic needs would promote social justice, the survey says, and empower the poor to make their own economic choices. In northern India, an increasing number of young women are learning to compete in the sport of wrestling. Until recently, few girls and women trained for wrestling in the northern state of Haryana. The area has a strongly patriarchal culture. Men there appear to be in control of the government and much of society.  See omnystudio.com/listener for privacy information.

A traffic policeman jumped into the freezing water of the Moskva River to rescue a girl who lost control of her car, skidded over the river’s high granite embankment and plummeted into the water, trapped in her vehicle. Russia has launched flight tests of its latest lightweight fighter, MiG-35. The military aircraft, which has been constructed to be potentially equipped with laser weapons, will in the near future replace previous generation jets in the Russian Air Force. Russian figure skater Yevgenia Medvedeva on January 27 set a new world record in terms of total scores upon the results of the short programme and the free skate in ladies at the European Figure Skating Championships in Ostrava, the Czech Republic. She scored 229.71 points.See omnystudio.com/listener for privacy information.

Brazilian authorities have confirmed the deaths of at least 33 prisoners in the northern state of Roraima just days after 56 inmates were killed during a fighting between rival drug gangs in the neighbouring state of Amazonas. His country mired in recession, Brazilian President Michel Temer's government ordered more than $400,000 worth of food, including 500 cartons of Haagen-Dazs ice cream and nearly 1.3 tonnes of chocolate cake, for his official plane trips in 2017 only to cancel the order hours later amid public outrage. Greek diplomat Kyriakos Amiridis, 59, hadn’t even been ambassador to Brazil for a year when he was murdered, stuffed into his rental car, and set on fire by Sergio Moreira, a 29-year-old military police officer who confessed to killing the ambassador and sleeping with the ambassador’s 40-year-old wife.  See omnystudio.com/listener for privacy information.

China will plough 2.5tn yuan (£292bn) into renewable power generation by 2020, the country’s energy agency has said, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels. China was hit with a record number of retaliatory trade measures last year, the Ministry of Commerce said yesterday, with countries claiming it had flooded global markets with cheap steel and other products. China’s vow to shut down its commercial ivory trade by the end of this year was welcomed by environmentalists as a turning point in the fight against poachers. Activists cheered the government’s pledge for swift action, and the state-run news media called it a “monumental win for elephants”.  See omnystudio.com/listener for privacy information.

Obama warns Trump to trust US intelligence over Putin who he calls an ‘adversary’ Speaking to ABC's George Stephanopoulos after the release of the intelligence community’s declassified assessment of the alleged Russian interference in the US presidential race, Obama again reiterated his firm belief that Moscow was somehow involved in propelling Trump into the Oval Office.   Russian President orders lending rate to be cut for Russian regions Putin has given bankers two months until March 1 to cut the key rates. Russian Central Bank head Elvira Nabiullina, who was named as the best European central bank governor in 2016, has been given the task of seeing it through.   Russia says it's fully committed to strengthening ties with India Amid unease in the Indian establishment over Pakistan warming up to Russia, Moscow today conveyed to India it is "fully committed" to further strengthening the strategic partnership between the two countries. Russian Deputy Prime Minister Dmitry Rogozin met Prime Minister Narendra Modi and the two leaders discussed strategic issues and continued progress in the civil nuclear energy sector.See omnystudio.com/listener for privacy information.

India has been suffering from cash shortages since it banned high denomination currency notes in November Since the ban was announced, many Indians have stood in long lines at banks to get money. And, banks are not giving customers the amount they demand as the banks run out of money faster than it is replaced.   The currency ban was a major step to curb corruption and wipe out illegal money. Has it helped? Interestingly, even during the two previous episodes of demonetisation of high value notes over `100 in India, on 12 January 1946, and on 16 January 1978, the objective of the exercise was containing black marketing or black money. The cash shortage may have already affected the prices of perishable goods and services. Prices of vegetables in wholesale markets, according to newspaper reports, have fallen significantly.   Why has India’s Supreme Court ordered the country’s cricket board chief to resign? India's Supreme Court has ordered the country's cricket board chief to resign for failing to implement reforms. The court on Monday told Board of Control for Cricket in India (BCCI) president Anurag Thakur to quit. It had recommended sweeping changes in the BCCI following allegations of spot-fixing and betting in the 2013 edition of the Indian Premier League (IPL) tournament.See omnystudio.com/listener for privacy information.

Since taking office back in May, President Michel Temer has led an administration riddled with bad news and corruption allegations. Even when the government gets a win, it is overshadowed by new corruption scandals. This time, the President himself is at the center of the accusations. Marcelo Odebrecht, the former CEO of Latin’s America’s largest construction company, has confirmed that Temer asked for “undeclared” funds.   Brazilians are getting their bumper stickers ready: Marina Silva 2018. The latest polls for the 2018 presidential election show the ex-Minister of Environment as the clear leader. The environmentalist would take office even in a face-off with Brazil’s beloved Lula, currently under criminal investigation.   The fact that impeached Brazilian President Dilma Rousseff was named among the women of the year by the Financial Times certainly raises eyebrows, political analyst Nilson Melo told Sputnik Brazil. The Financial Times put her on par with such political figures as UK Prime Minister Theresa May and "former presidential candidate" Hillary Clinton, as well as "the world's best gymnast" Simone Biles.See omnystudio.com/listener for privacy information.

Earlier this week, Donald Trump tweeted that the U.S. Air Force should cancel its order with Boeing aircraft because the project's cost had spiralled. But Boeing executives said they are for more concerned about Trump's antagonism toward China on trade. Chinese state media have warned that any new tariffs imposed by Trump would lead to retaliation against Boeing, Apple iPhones and U.S. corn and soybeans.President Xi Jinping will become the first Chinese head of state to attend the World Economic Forum in Switzerland next month, a person familiar with the trip said, as the country seeks a larger role in shaping the global financial order.Xi was preparing to take part in the annual gathering of billionaires and political elites in the Alpine resort town of Davos, which is scheduled from Jan. 17-20.A senior Chinese officer has met Djibouti's military chief-of-staff in Beijing and thanked him for supporting China's construction of a military base in the Horn of Africa country, the second such high-level meeting in a month.In February, China began construction of a logistics base in strategically located Djibouti that will resupply naval vessels taking part in peacekeeping and humanitarian missions off the coasts of Yemen and Somalia in particular.See omnystudio.com/listener for privacy information.

India has faced huge cash shortages after it scrapped a large part of its currency A cash shortage triggered by Prime Minister Narendra Modi’s decision to void 86 percent of currency in circulation and an accompanying surge in banking liquidity as Indians deposit their worthless bank notes threatens one of the world’s economic bright spots. Gross domestic product data released on Wednesday showed the economy grew less than estimated in the July-September quarter from a year earlier, piling pressure on the central bank to lower borrowing costs.   Measures to help stamp out corruption in India India’s Prime Minister Narendra Modi in a dramatic move aimed at stamping out corruption and draining illicit cash from the country, on Tuesday (8 Nov) announced the abolition of all 1000 and 500 rupees bank notes from midnight Tuesday.   India has celebrated the 50th anniversary of a rice variety that apparently ushered in the green revolution Crossbred from a tall variety in Indonesia and a dwarf variety in China, IR8 was the world’s first high-yielding rice and is credited with having prevented famines and sparking the Green Revolution in rice in Asia.See omnystudio.com/listener for privacy information.

The average Russian has begun to think more favorably about the United States, with over half the participants in the latest polls saying they expect President-elect Donald Trump to further improve relations between the two nations.   Russia losing patience with Google over non-compliance with antitrust ruling. Google will face another fine from Russia's Federal Antimonopoly Service (FAS) if it fails to comply with a regulatory instruction to stop abusing its market position and pay the original $6.8 million penalty for the violation.   Speaking during the South Africa-Russia Business Council in Pretoria on Thursday, the deputy director-general of trade and investment at the Department of Trade and Industry (the dti), Pumla Ncapayi, said there was greater potential for trade gains with Russia, particularly in the identified sectors. Ncapayi said Russia was South Africa’s key strategic trading partner within the Integrated National Export Strategy.See omnystudio.com/listener for privacy information.

US Elections have resulted in uncertainty: Brazil Central Bank Brazil's Central Bank (BC) President Ilan Goldfajn said Monday (Nov. 21) that the outcome of the US presidential election, won by magnate Donald Trump, brought an element of uncertainty to markets, but reiterated that the institution has kept a close watch on the development of international markets and worked to prevent the effects of "external shocks" from threatening macroeconomic stability.   The Trump victory adds pressure to pass crucial reforms in Brazil and soon! Donald Trump's U.S. election victory and the ensuing market volatility should encourage Brazilian policymakers to push ahead with ambitious economic reforms that help cushion the country from global turmoil, business executives and bankers said on Tuesday.   IMF outlook suggests Brazil is clawing its way out of recession slowly While there are signs that the recession is nearing its end, Brazil’s economic prospects hinge on the new government’s ability to implement ambitious structural reforms to restore fiscal sustainability, the IMF said in its annual review on the state of the Brazilian economy. According to the report, Latin America’s largest economy has suffered its deepest recession in decades.   Brazil to Increase Culture Ministry Budget by 40 Percent The Brazilian Ministry of Culture will have a 40% budgetary increase in 2017 – hardline government is appeasing some of the protesters. President of Brazil, Michel Temer, announced this week that his administration would be increasing the Ministry of Culture’s budget by more than forty percent. The ministry was the focus of one of the first ‘conflicts’ between Temer and the Brazilian population when the then interim leader announced it was nesting the ministry into the Ministry of Education.See omnystudio.com/listener for privacy information.

China threatens to retaliate against Trump China’s state-run newspaper, the Global Times, has taken issue with Trump pledge to rein in China with respect to trade in an effort to revive the Unites States’ manufacturing business. In an editorial, the paper openly criticized the President-elect, stating that his currency manipulation accusations could mean that “China's reputation will be affected, and the trade atmosphere between China and the US will become more tense.” Retail sales of cars, sport utility and multipurpose vehicles increased 20 percent to 2.22 million units last month, according to the China Passenger Car Association. Deliveries rose 15 percent to 18.7 million units in the first 10 months. Tencent has also gotten into on the action, having helped finance movies like “Warcraft” and “Kong: Skull Island." Now the company is getting ready to spend a good amount of money over the next two to continue to invest in those projects, according to a report from Bloomberg on Tuesday. In the next two years, Tencent will spend at least 2 billion yuan ($295 million) investing in Hollywood and Chinese films. That includes 1 billion yuan in 2016, and more than that in 2017.See omnystudio.com/listener for privacy information.

The sickening air pollution that led the Indian capital to shut schools and construction sites this week has prompted similar measures in nearby cities. Officials in the northern state of Uttar Pradesh said Monday that they expect the acrid smog to blanket the state within days.   Top-ranked India will look to settle old scores by unleashing their spinners on a fragile-looking England when the first Test of a five-match series begins in Rajkot tomorrow. England were the last team to win a Test series on Indian soil when they came from behind to triumph 2-1 in 2012, but India are currently enjoying an impressive run.   Theresa May has dashed Indian hopes for a more liberal visa system for its nationals wanting to work in the UK by arguing that the current offer is generous enough. Speaking on the way to her first bilateral meeting in Delhi, the prime minister argued that Britain was already able to attract the “brightest and best” from outside the EU.See omnystudio.com/listener for privacy information.

Russian parliament members have labelled a recent call to exclude Russia from the UN Human Rights Council mere speculation, adding that the move reminds them of the biased approach to terrorists in Russia’s North Caucasus territories. Over 80 NGOs call for Russia to be dropped from UN rights council over Syria.   Over half of Russians think that the outcome of the upcoming US presidential election is important for their country, and many expect US-Russian relations to worsen further if Democratic Party candidate Hillary Clinton is victorious in November. According to the latest survey conducted by state-run public opinion centre VTSIOM, 57 percent of Russian citizens think that the results of the looming US presidential elections will be important for their country, while 38 percent don’t think they will have any impact on relations between the two nations, either way.   The world's largest professional network LinkedIn could soon be blocked in Russia. The company has failed to comply with a law that obliges companies to keep data on Russian users in the country. Apart from not moving servers to Russia, LinkedIn collects and sends information about people who are not users of the network without their consent, according to the Russian internet watchdog Roskomnadzor. According to the spokesman, Moscow’s Tagansky District Court has ruled in favor of the watchdog, but LinkedIn has appealed to a higher court. LinkedIn is the world's largest business and employment oriented social network. As of 2015, it had 400 million users with 5 million people registered in Russia.  See omnystudio.com/listener for privacy information.