https://english.almayadeen.net/news/economics/ecb-set-for-historic-interest-rate-hike-for-first-time-in-11

ECB set for historic interest rate hike for first time in 11 years

The European Central Bank (ECB) has for the first time in over a decade raised interest rates to combat eurozone inflation that hiked 8.6% last month.

While economists were expecting a 0.25 percentage point hike, the ECB surprisingly pushed its base rate up by 0.5 percentage points, saying the increase was a must to limit the pressure on prices over the coming two years.

“The governing council decided to raise the three key ECB interest rates by 50 basis points. Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 0.50%, 0.75%, and 0.00% respectively, with effect from 27 July 2022,” the ECB said.

Before the decision was reached, the euro kept falling against the US dollar, but it is expected to get a boost in the coming week when the Fed could hike its main interest rate by 0.75 points.

German, Dutch, and Austrian officials have pushed ECB officials and put them under pressure to increase borrowing costs in spite of fears that debt financing fees would escalate for southern European members of the euro currency bloc.

Italy’s government collapse earlier in the day increased the cost of Rome’s borrowing and pressured the ECB to step up its “anti-fragmentation” program, made to protect nations that come under debt financing stress.

Recession concerns have helped push the euro to a 20-year low against the dollar, which adds to the ECB’s inflation-fighting task by worsening already high energy prices. Oil is among many commodities priced in dollars.

>>16781008

It turned out to be somewhat true.

>>16781014

Loads of 22 coms for the last few days, again.

>>16781063

GEORGE!!!!???? Hello George?

With a safety pin on top of it all

https://english.almayadeen.net/news/economics/russia-africa-to-reduce-mutual-trade-in-usd-euro

Russia, Africa to reduce mutual trade in USD, Euro

Russian Foreign Minister Sergey Lavrov, on Friday, said Russian and African partners are working on reducing, though gradually, trade in the US dollar and the euro in mutual trade payments.

"For sure, the current geopolitical situation requires certain adjustment of the mechanisms of our interaction: first of all, there is a question of ensuring seamless logistic and tuning the system of financial settlements to make them secure from the outer interference. In cooperation with its partners, Russia takes steps to enhance the use of national currencies and payment systems. We are working to gradually reduce the share of dollar and euro in mutual trade," Lavrov said in an article to African outlets, published by the Russian Foreign Ministry on Friday.

Russia has for long advocated for the establishment of an independent and efficient financial system independent from the SWIFT system that is "proof against the potential impact from the unfriendly States."

Between July 24 and 28, Lavrov will be traveling to Africa and is scheduled to visit Egypt, Ethiopia, Uganda, and the Congo.

Europe and the West, since the start of the war in Ukraine, have been trying to get African countries to condemn the "Russian invasion" of Ukraine, in addition to exploiting the media to blame Russia for food security in Africa while western Europe has been reaping its resources for centuries, plunging it in crippling debt.

Russia committed to supplying energy to Africa despite sanctions

Moscow, according to Lavrov, will continue to fulfill its obligations to supply food, fertilizers, and energy to African countries, regardless of western sanctions.

"It is essential that all our African friends understand that Russia will continue to fulfill in good faith its obligations under international contracts with regard to exports of food, fertilizers, energy and other goods vital for Africa. Russia is taking all measures to this end," Lavrov said.

He added that Russia is well-aware of the importance of commodities essential to the social fabric, which includes food.

"I would like to emphasize that the speculations of Western and Ukrainian propaganda that Russia allegedly "exports hunger" are completely unfounded. In fact, these are yet another attempt to shift the blame to others," Lavrov said.

He argued that the collective West used the global COVID-19 pandemic to withhold commodities and food flows, which has forced developing countries to be dependent on its food imports, which was the starting point of a global food crisis.

West pressuring African countries to condemn Russia

In May, Russian Ambassador to Angola Vladimir Tararov told Sputnik that the West is going so far as to exert pressure on African states that it is even resorting to immoral actions like threats.

“I know that they [Angola] are under extreme pressure from the Western countries, who call on them to condemn Russia. But they expressly behave in this way, saying that we will contribute to the establishment of peace, we will contribute with all our might so that agreements are reached between the parties," Tararov said.

The Ambassador explained that Western nations "are just threatening, blackmailing. This blackmail, I emphasize once again, is immoral. The countries [of Africa] are barely standing their ground to resist."

The Russian diplomat stressed that when voting was underway for the anti-Russian resolution at the UN General Assembly, "almost all African countries voted neutrally, that is, they abstained. This means they did not support this resolution. But they did not dare to vote against it, because the pressure was extreme."

>> Anyone left using the Dollar?

>>16781105

The biggest kek of the day

https://english.almayadeen.net/news/politics/attack-targets-main-military-base-near-malis-bamako

Attack targets main military base near Mali's Bamako

In what camp residents claimed to be an attack by Islamist militants, heavy gunfire was heard early on Friday at the major military base outside of Mali's capital Bamako before ceasing after nearly an hour.

Before 0600 GMT, the firing stopped, and helicopters began to circle above the Kati base, which is roughly 15 km from Bamako.

Colonel Assimi Goita, the head of Mali's junta, was subsequently seen leaving his Kati home in a convoy and traveling toward Bamako, according to a Reuters correspondent.

Despite the fact that Kati was the scene of successful coups in 2012 and 2020 as a result of mutinies, three camp residents who requested to remain anonymous said the troops did not seem to be fighting among themselves.

Islamist militants linked to Al-Qaeda and IS have recurrently attacked army bases throughout the country during an insurgency that has been ongoing for a decade, however, this is the first time that they get this close to the capital.

According to the army, Al-Qaeda-linked militants had staged coordinated attacks targeting several military camps at an earlier time of the day. These attacks, which took place several hundred kilometers north of Bamako, left one soldier dead and about 15 wounded.

On Friday, a representative from the presidency declined to comment and the military spokesperson for Mali was not immediately available.

Mali to halt all new UN peacekeeping rotations

Mali said Thursday that for "national security" reasons, rotations of the UN's peacekeeping mission will be suspended, in the most recent complication in relations between the ruling junta and international partners.

Rotations of the United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA) mission are being suspended, including those already scheduled, the Foreign Ministry in Bamako said.

In a statement, the Ministry added that the suspension will last until a meeting is held to "facilitate the coordination and regulation" of the rotation of contingents.

The announcement did not clarify the reasons for the move that came four days after Mali arrested 49 Ivorian soldiers it described as "mercenaries" having the intention to overthrow the country's military-led government.

The soldiers are National Support Elements (NSE), a UN procedure allowing peacekeeping contingents to use outside contractors for logistical duties. They were arrested after arriving at Bamako airport aboard a special flight, and they comprised the eighth rotation under this scheme, according to Ivory Coast.

Mali's statement did not refer to their arrest or give a date for talks to discuss MINUSMA rotations, but it assured the UN mission that Mali would "work diligently to create conditions conducive to the lifting of this suspension of rotation, which is an essential step in enabling the deployed contingents to ensure the proper implementation of MINUSMA's mandate."

MINUSMA has been in Mali since 2013 after the Sahel region plunged into chaos after Al Qaeda-linked extremists seized northern Mali in 2012.

Since its inception, MINUSMA has reported over 275 fatalities, one of the highest among all UN peacekeeping missions

Of these attacks, 177 deaths were the result of hostile acts, the latest of which was against the Egyptian contingent on July 5, when two peacekeepers died and five were critically injured near Gao, in northern Mali.

A UN official in Bamako said Egypt contributed 1,035 out of 12,261 UN peacekeeping troops in Mali.

"It is one of the mission's biggest contingents," he said.

>>16781167

NOTABLE

https://english.almayadeen.net/news/politics/eu-takes-new-legal-action-against-uk-for-breaching-nireland

EU takes new legal action against UK for breaching N.Ireland agreement

The EU has launched four new legal cases against the UK government in response to MPs' support for legislation overriding post-Brexit arrangements for Northern Ireland.

The claims concern previous failures to implement the 2019 deal agreed with Boris Johnson, but the EU has been prompted to act by the passage of a bill through parliament that would rip up current arrangements.

The Northern Ireland protocol bill passed its third reading in the House of Commons on Wednesday by a vote of 267 to 195, and will now go to the House of Lords in the autumn.

The four new legal cases, which allege a failure to enforce EU customs, VAT, and excise rules, join three other cases already pending before the European Court of Justice.

It is worth noting that the EU court has the authority to levy daily fines of millions of euros on the UK, and its decisions could be the first step toward the bloc taking punitive action through mechanisms built into the Brexit agreements.

On his account, the EU's Brexit commissioner Maros Sefcovic has not ruled out tariffs on British goods sold into the EU, calling the terms of the Northern Ireland protocol bill "illegal."

The commission said in a statement on Friday that it was taking the legal action in part because of "the continued passage of the Northern Ireland protocol bill through the UK parliament," which it said "goes directly against" a spirit of seeking joint solutions to current issues.

Under Johnson's 2019 protocol, Northern Ireland effectively remains in the single market, with EU customs rules applied down the Irish Sea to elude a border on the island of Ireland.

The proposed legislation would eliminate checks for firms selling goods from the United Kingdom to Northern Ireland rather than the EU.

The UK government envisions a "green lane" with fewer checks for those selling goods to Northern Ireland and a "red lane" with existing checks for goods destined for EU countries.

According to EU officials, there are no significant differences between this proposal and those put forward by the European Commission for an "express lane."

However, the legislation would also allow companies in the United Kingdom exporting to Northern Ireland to choose between meeting EU or UK regulatory standards, which are expected to diverge increasingly.

According to EU officials, this poses a risk to the single market and that the current arrangements and failure to implement controls have already encouraged smugglers.

Other measures include shifting trade dispute resolution away from the European Court of Justice and toward independent arbitration.

The UK foreign secretary Liz Truss, who drafted the legislation, is the frontrunner to become the Conservative Party's next leader and Prime Minister following Boris Johnson's resignation.

She has pushed for the Northern Ireland protocol bill as proof that she makes "tough decisions."

>>16781215

So I was right when it comes there were only 3 moves left on the chess board, then it went to two, one and now NONE. Let me get my popcorn ready.

https://english.almayadeen.net/news/politics/russia-turkey-and-ukraine-officials-seal-grain-deal—un

Russia, Turkey, and Ukraine officials seal grain deal - UN

On Friday, Russian Defense Minister Sergei Shoigu, Turkish Defense Minister Hulusi Akar, and Ukrainian Infrastructure Minister Oleksandr Kubrakov signed a grain deal mediated by the United Nations in Istanbul.

"The Secretary-General is the witness of the Black Sea initiative, we expect to see the defense minister of the Russian Federation, defense minister of Turkey, and the infrastructure minister of Ukraine are signing the deal," a senior UN official told a briefing before the signing of the deal.

The Ukrainian side will have control over the ports of Odessa, Chernomorsk, and Yuzhny, from which grain exports will be organized, according to the agreements. Aside from that, no ships other than those exporting grain and related food products and fertilizers will be permitted to dock at these ports.

Earlier today, Russian Deputy Permanent Representative to the United Nations Dmitriy Polyanskiy stressed during a General Assembly meeting that the United States every day plunders Syrian hydrocarbons and grain in the territory not controlled by Damascus, which is occupied by pro-American militants in the northeast of the country, RIA Novosti reported.

Polyanskiy explained that "the only zones not controlled by the Syrian government are still only the Trans-Euphrates, where the American occupiers plunder grain and hydrocarbon resources on a daily basis, and the Idlib de-escalation zone in the north-west of the country, occupied by internationally recognized terrorists from Hayat Tahrir Al-Sham."

Yesterday, it was announced that Ukraine and Russia will finalize a deal on Friday that will allow grain to begin flowing across the Black Sea, easing the current global food crisis, according to the Turkish Presidency.

"The signing ceremony of the grain shipment agreement, in which President Recep Tayyip Erdogan and United Nations Secretary-General Antonio Guterres will be present, will be held (Friday) with the participation of Ukraine and Russia," the Turkish leader's office said.

https://english.almayadeen.net/news/politics/military-clashes-in-libya-capital-kill-9

Military clashes in Libya capital kill 9

At least nine people were killed in heavy clashes between militias in Libya's capital Tripoli overnight Thursday and Friday, as per emergency services.

Updating an earlier death toll, emergency services told Al-Ahrar TV that a child was among the nine killed and that 25 other people, including civilians, had been injured, several of them seriously.

It is worth noting that tensions in the North African country have been rising for months as two prime ministers vie for power, raising fears of renewed conflict.

The latest fighting began late Thursday in Ain Zara, a densely populated neighborhood in eastern Tripoli, between the Al-Radaa force and the Tripoli Revolutionaries Brigade.

It later spread to other areas, trapping 60 students in university dormitories until they were rescued, according to Osama Ali of the ambulance service, who spoke to Al-Ahrar.

Images shared on social media showed dozens of vehicles abandoned in the middle of the road by drivers fleeing the violence with their doors open.

Flights by Libyan Airlines and another carrier, Alamia, were diverted from Tripoli's Mitiga airport to Misrata, about 200 kilometers east of the capital, due to the unrest.

Since the 2011 NATO-fueled conflict in Libya, the country has been split between the two parties, with the rival sides of the conflict concluding their latest round of talks almost two months ago without reaching a deal to try and set the rules for the country's elections.

The presidential and parliamentary elections in Libya, originally set for December 2021, were supposed to be the result of the UN-sponsored peace process after the last round of violence shook the country from 2019 to 2020. The vote never took place because of deep disagreements between factions.

>>16781470

Ready to harvest

https://english.almayadeen.net/news/politics/egypts-al-sisi-frances-macron-discuss-regional-intl-issues

French President Emmanuel Macron reaffirmed France’s commitment to supporting the path of strong bilateral relations with Egypt in various fields.

The French president made the remarks during a meeting with his Egyptian counterpart Abdel-Fattah Al-Sisi who is on a two-day official visit to Paris.

Al-Sisi and Macron discussed ways to strengthen bilateral relations between the two countries on all levels, as well as a variety of regional and international issues, according to presidential spokesperson Bassam Rady.

On his account, Al-Sisi expressed Egypt's eagerness to maximize coordination and consultations with France on various political, security, and economic issues of mutual concern in the coming period, according to Egyptian Presidential Spokesperson Bassam Rady.

Al-Sisi and Macron discussed ways to strengthen bilateral relations between the two countries on all levels, as well as a variety of regional and international issues.

On Palestine

The two presidents have also discussed Palestinian developments and ways to restart the so-called "peace process" between "Israel" and Palestine.

The French president praised Egypt for mediating between Palestinians and the Israeli occupation, as well as for its efforts to rebuild Gaza. Macron also stated that France is eager to continue working with Egypt on these issues.

Meanwhile, the Israeli occupation's unlawful killings, willful injury, arbitrary arrests, torture, and other ill-treatment, persecution, and collective punishment against Palestinians, including many children on a daily basis.

"Israel" has been murdering Palestinian children while the majority of countries stand silent. According to a recent report, the Israeli occupation forces have murdered 15 Palestinian children throughout the occupied West Bank so far this year.

East Mediterranean region and Ukraine

Al-Sisi has also highlighted other developments in the East Mediterranean region most notably in Libya, Syria, and Lebanon.

Furthermore, Al-Sisi emphasized to Macron that these crises can only be resolved through political solutions that preserve their lands' unity and integrity while also safeguarding their national institutions.

On the Ukrainian issue, Al-Sisi reiterated Egypt's position to Macron, emphasizing the importance of keeping the door open for dialogue and diplomatic solutions.

The two presidents also talked about how to overcome the difficult economic challenges posed by the war in Ukraine, particularly the negative impact on food and energy security, as well as global markets.

It is worth noting that this meeting was the two presidents' first one-on-one meeting since Macron's reelection in April.

Al-Sisi's visit to France is part of the president's European tour, which also included stops in Germany and Serbia.

>>16781503

>>16781494

https://english.almayadeen.net/news/politics/british-royal-navy-trains-ukrainian-sailors-to-fight-russia

British Royal Navy trains Ukrainian sailors to fight Russia

The Royal Navy is training Ukrainian sailors in Scotland to help Kiev fight Russia, the British military said on Friday.

Vladimir Gavrilov, Ukraine's deputy defense minister, and UK Armed Forces Minister James Heappey both took part in the exercises. The drill's exact location is being kept secret for security reasons.

The ministers observed the sailors practicing key skills at sea, such as weapon drills, damage control, and vessel operation.

According to the Navy, 80 Ukrainian servicemen are receiving "comprehensive, expert instruction." At the same time, the UK plans to sell two Sandown-class minehunters to Kiev.

“We really need them to support Ukrainian efforts in the Black sea for the mining. It’s also a part of humanitarian mission which is very important to the world,” Gavrilov said.

“The intensity with which the Ukrainian soldiers and sailors are training is something to behold. They work with the focus of troops who know they’ll be fighting in a war in just a few short weeks’ time,” Heappey added.

The Royal Navy's participation in the exercise is part of a military program led by the United Kingdom that involves over 1,000 British service members from across the country. The drill is intended to prepare volunteer recruits with limited military experience for frontline combat.

The joint exercises come as the United Kingdom has decided to send Ukraine another batch of anti-tank weapons, drones, artillery guns, and tens of thousands of rounds of ammunition. Previously, London provided Kiev with £2.3 billion ($2.76 billion) in financial assistance to help the country combat Russia's offensive.

US trains Ukrainian troops

Some Ukrainian troops received military training in the United States, including on how to use equipment provided by the Pentagon, top US defense officials revealed at a House Armed Services Committee hearing on April 5.

The US government has provided Ukraine with $2.3 billion in security assistance since President Joe Biden took office last January, including thousands of anti-tank and anti-aircraft missile systems.

Roughly 70% of that aid was provided or obligated after Russia launched its operation in Ukraine on February 24.

>> Isn't this considered as an act of war?

Notice the pen? = is it follow the pen?

https://english.almayadeen.net/news/politics/japan-disturbed-by-russia-chinese-threats-to-taiwan

Japan disturbed by Russia, Chinese 'threats' to Taiwan

On Friday, Japan's Ministry of Defense said it was alarmed by 'fresh threats' from Russia and had growing worries about Taiwan in an annual report that comes at a time Tokyo is considering a significant increase in defense spending.

The document includes a chapter on the war in Ukraine, which it says risks sending the message "that an attempt to unilaterally change the status quo by force is acceptable."

The paper surveys the global security landscape and specific threats to Japan, raising concerns that Russia could "further enhance and deepen relationships with China."

Tokyo is also warning that Russia may increasingly depend on its nuclear capacity as a deterrent which could, in turn, mean more activity around Japanese waters.

Japan has supported the US and European-led sanctions against Moscow.

Furthermore, the report devotes significant space to Taiwan, a Chinese territory that the US has been diplomatically and militarily supporting. The report writes the most detailed overview of the security situation until today, noting that "since Russia's invasion of Ukraine, Taiwan has been working on further strengthening its self-defense efforts."

Although Japan's defense budget has been rising for years, the country still has the lowest ratio of military expenditure to GDP among the G7.

The report continues to describe China as a "strong security concern," adding that the risk posed by Beijing "is intensifying in recent years."

>>16781682

Fly Eagle Fly

>>16781699