Week 184 (12-19 /12/2022)

Saudi Arabia is set to become the region’s solar power producer

Courtesy: CNBC

AFRICA AND THE MIDDLE EAST

In Qatar, the FIFA World Cup 2022 has come to an end. Argentina is the champion of the world. The 2022 FIFA World Cup is considered as one of the most exciting World Cup finals in tournament history, Argentina has won the 2022 World Cup by defeating France by penalty shootout.

Saudi Arabia is set to become the region’s solar power producer (15/12). The kingdom authority will build a 2.060 megawatt solar power facility in Al-Shuhaibah, Mecca. The facility is planned to be operational in 2025.

Morocco became the most successful team from Africa in World Cup history (15/12). The national team of Morocco proudly became the first African team that reached the semi-final. Morocco  faced Croatia in the third-place match and successfully was placed in fourth place.

Lesotho set rules to reclaim South African territory (15/12). The parliament of Lesotho passed a regulation that set Lesotho to reclaim Basotho region a presence in now South Africa. The detail of the regulation consists of the declaration of the whole of the Free State, parts of the Northern Cape, parts of the Eastern Cape, parts of Mpumalanga, and parts of KwaZulu-Natal as the territory of the Kingdom of Lesotho.

ASIA

The watchdog for Hong Kong's financial markets has issued a warning against the dangers of online platforms for deposits of cryptocurrencies and other digital assets (15/12). The Securities and Futures Commission (SFC) issued a statement warning of the "potentially substantial dangers" connected to so-called "virtual asset arrangements." The announcement comes at a difficult time for the cryptocurrency sector.

Due to threats from China and North Korea, Japan has stated it will quadruple its military spending over the next five years (16/12). Additionally, it will be given the capacity to attack enemy bases. Since Japan adopted a pacifist constitution during World War Two, the reforms represent the country's most significant security strategy overhaul. According to the proposal, Tokyo will purchase US long-range missiles with the ability to destroy enemy launch locations in the event of an assault. Additionally, it will improve its capacity for cyber warfare.

Shanghai, the biggest city in China, has mandated that the majority of its schools offer online courses as the number of Covid cases rises. According to Shanghai's education administration, nurseries and daycare facilities will also be closed starting on Monday. Chinese authorities loosened restrictions earlier this month in response to a wave of demonstrations against China's zero-Covid plan. However, the relaxation of rigorous lockdown regulations has raised more and more worries about the spread of Covid in China.

The creation of a spy satellite, which North Korea hopes to finish by April 2023, involved a "major, final phase" test on Sunday, according to KCNA, the country's official news agency (19/12). The data was made public a day after the forces of South Korea and Japan claimed that the isolated North had fired two intermediate-range ballistic missiles in the direction of its east coast. According to KCNA, Pyongyang's National Aerospace Development Administration (NADA) tested its ground control, data transmission, and satellite imaging capabilities at its Sohae satellite launch facility in the northwest.

AUSTRALIA AND PACIFIC

Penny Wong will become the first Australian minister to visit China since Beijing froze diplomatic relations. In November 2019, Simon Birmingham, then-minister of trade, was the latest Australian minister to visit China. After Labor's victory in the May federal election, channels of contact between the government and the People's Republic of China were reopened.

The negotiating team for the "kingmaker" party, the Social Democratic Liberal Party (SODELPA), has been entrusted with revisiting the offers with Fiji First and the People's Alliance-National Federation coalition, which are tied with 26 seats apiece. At a news conference, the leader of SODELPA stated that they had received offers to which they responded with proposals. He stated that the other parties involved, including NFP, confirmed in writing to them last night and this morning.

Tesco desires assurance that all fresh produce, meat, and dairy products it offers, including those from New Zealand farmers, are sustainably sourced. Alice Ritchie, manager of sustainable agriculture at Tesco, stated that the supermarket was the largest purchaser of New Zealand products in the United Kingdom. She stated that the company aimed to achieve net-zero emissions across its entire supply chain by 2050.

Sir Arnold Amet, the former chief justice of Papua New Guinea, was the final witness to testify at the leadership trial against banned Madang MP Bryan Kramer on Friday. Sir Arnold testified as a defense witness, essentially clarifying the role of the chief justice in relation to allegations of Mr. Kramer scandalizing the judiciary through social media posts and directives issued by current chief justice Sir Gibbs Salika on the handling of a warrant of arrest case involving former Prime Minister Peter O'Neil.

EUROPE

European Union has announced a new deal to overhaul the EU carbon market. The deal aims to reduce greenhouse gas emissions by 2030. The deal, signed on Sunday (18/12) aims to accelerate emissions cuts and phase out fuel emissions from the building and road transport sectors, according to a European Parliament statement. Currently The EU Emissions Trading System (ETS) allows electricity producers and industries with high energy demands such as steel to purchase "free allowances", similar to a carbon credit, to cover their carbon emissions under a "polluter pays" principle. The quotas are designed to decrease over time to encourage industries to emit less and invest in greener technologies

Russian defence ministry has announced this week the creation of “creative brigade” composed of musician and vocalist with the aim of improving morale. This comes after Russian troops suffering from low morale after sufferings setbacks in the war. There are a lot of concerns that the new brigade will distract the troops and will not address the root problems that befall Russian army.

European Union and ASEAN countries leader met for the first time in Brussels on Wednesday (14/12). The discussion centred around a new investment in infrastructure announced by European Commission President Ursula von der Leyen totalling 10 billion Euros commitment to 2027 for ASEAN countries. The project was part of EU's "Global Gateway" program, it will primarily focus on green projects and connectivity.

The European Union Chief Prosecutor, Laura Codruța Kövesi has requested on Thursday (15/12) the lifting of immunity of two Greek Members of the European Parliament, Eva Kaili and Maria Spyraki over fraud allegation. Eva Kaili was suspected of receiving bribery from Qatar states in exchange for furthering the states interest in European Parliament in a scandal now dubbed “Qatargate”. Meanwhile, Maria Spyraki has also been indicted, but on different investigation.

LATIN AMERICA AND THE CARIBBEAN

European domination has fallen as Argentina won the 2022 world cup championship against France (18/12). Argentina beat France 4-2 in a penalty shoot-out. Gonzalo Montiel's penalty sealed victory for the South American side at Qatar's Lusail Stadium. It was Argentina's first World Cup win since 1986 and their third overall.

Dina Boluarte takes over from Pedro Castillo, who was Peru's first president with Indigenous heritage (17/12). Rural protests are showing no signs of abating amid anger over the removal of Castillo. At least 14 people have died from injuries suffered in clashes with security forces. Two ministers have quit in protest over what they call an overly repressive police response to anti-government protests. Dutch colonizers kidnapped men, women and children and enslaved them on plantations (16/12). The Netherlands is expected to become one of the few nations to apologize for its role in slavery. In Suriname, activists and officials say they have not been asked for input about the apology. The Netherlands has a long history of progressive thinking and liberal laws but little sympathy for slaveholders. The Dutch Caribbean territories of Suriname and St. Maarten are demanding reparations from the Netherlands for their colonial past. Others want financial reparations to be spent on education, health and other public benefits.

Venezuelan President to fully open border crossings with Colombia starting Jan. 1 (13/12). The measure has been repeatedly postponed after diplomatic and commercial ties were restored. Relations between the neighbors were broken off in 2019, but diplomatic ties resumed in September. Colombian state airline Satena and the Venezuelan Turpial and Laser have permission to fly to Venezuela.

THE UNITED STATES AND CANADA

United States is considering sending Patriot missile system to Ukraine to help the ongoing war effort. The plan, created by the Pentagon will still need to be approved by the Defense Secretary Lloyd Austin before it is sent to President Joe Biden for his signature. It is expected though that President Biden will give his approval in the coming week.

The Bank of México (Banxico) has raised the interest rate by 50 basis points to 10.5% on Thursday (15/12). This is the first time in seventh month that Banxico has slowed its rate increases. This follows The United States Federal Reserve that also increases its interest rate by 50 basis points on Wednesday (14/12), to a target range of 4.25-4.5%.

Three United States conservative group has sued Mexico after the states failed to combat illegal fishing practice that threaten vaquita porpoise, an endangered species. The conservative group, The Center for Biological Diversity (CBD) has joined with the Animal Welfare Institute and the Natural Resources Defense Council filing the lawsuit in the United States Court of International Trade. The lawsuit calls for the United States. to certify Mexico under a fisheries law called the “Pelly Amendment.” If successful, this would open a way for the United States president to embargo Mexican wildlife product.

United States-Africa Summit were held from (13/12-15/12) in Washington D.C., the first since the meeting in 2014. The United States aim at boosting its influence on the continent especially after worsening security problems and acute economic problems in Africa, in part due to the ongoing conflict in Ukraine. Not only that, the Summit was also held with the growing influence of China, both global powers trying to sway the continent to their side.