In the ongoing nuclear reconciliation talks between Iran and the West, the latest venue has become Türkiye, with Istanbul being a crossroad. These actors, who have met numerous times to date, face a fundamental challenge in the global system: the consistent failure to adhere to established boundaries or legal frameworks fully. As is well known, following the 1979 Iranian Revolution, the global system came to be perceived by Iran as a Western-centric authority, one increasingly viewed through the lens of adversarial rhetoric. In contrast, Iran during the era of the Pahlavi dynasty presented a markedly different perspective. The continuation of…
Author: CYPRUS EYE
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Thailand and Cambodia agreed Monday to an unconditional cease-fire in Malaysia, marking a major step toward ending five days of deadly border clashes that have left dozens dead and tens of thousands displaced. Cambodian Prime Minister Hun Manet and Thai Acting Prime Minister Phumtham Wechayachai agreed to a halt in fighting, starting at midnight, while appearing with Malaysian Prime Minister Anwar Ibrahim during a meeting held under U.S. pressure in the Malaysian administrative capital of Putrajaya. The Cambodian and Thai leaders hailed the meeting’s outcome and shook hands at the end of a brief news conference. An Associated Press journalist…
Opinion by: Fahmi Syed, president of the Midnight Foundation Stablecoins have become the most sought-after innovation in blockchain since Bitcoin. Their appeal lies in their undeniable utility, offering the speed and flexibility of digital assets with the stability of fiat, becoming a natural link between traditional finance and decentralized systems. Now, stablecoins are enjoying a rapid adoption rate, especially in emerging markets where they enable fast, low-cost cross-payments and provide a buffer against currency volatility. Seeing an incredible opportunity, the behemoths of traditional finance and agile fintechs are making a serious push into this space. Last year, PayPal’s PYUSD hit…
A central bank digital currency (CBDC) alone will not be enough to challenge the rise of US dollar-pegged stablecoins, according to an adviser to the European Central Bank (ECB). In a blog post published Monday on the ECB’s website, adviser Jürgen Schaaf outlined a range of strategic options for the European Union to address the rapid rise of dollar-based stablecoins. Among those options were regulated euro-pegged stablecoins, distributed ledger technology (DLT) applications and the ongoing development of the digital euro. He also emphasized the role of stronger global coordination on stablecoin regulation, highlighting stablecoin regulation disparities between the US GENIUS…
“Winning the Race: America’s AI Action Plan” envisions a world controlled by all-knowing US technology. It begins by declaring that “The United States is in a race to achieve global dominance in artificial intelligence (AI). Whoever has the largest AI ecosystem will set global AI standards and reap broad economic and military benefits. Just like we won the space race, it is imperative that the United States and its allies win this race.” Released by the White House on July 23, the plan “identifies over 90 Federal policy actions across three pillars – Accelerating Innovation, Building American AI Infrastructure, and…
Disinflation in China is not being driven by weak household appetite alone. The more decisive factor is a sustained mismatch between policy-driven industrial output and actual market absorption. The country’s price weakness, where the Consumer Price Index (CPI) was in deflation territory from February to May and up a mere 0.1% in June, is the outcome of a long-running expansion of capacity across several sectors that were never disciplined by global demand signals. For two decades, the model emphasized investment over consumption. Policymakers championed capacity-building in industries they viewed as nationally strategic.These included electric vehicles, solar components, steel, semiconductors, and…
Syrian Red Crescent convoy enters Suwayda province, state media reports, as UN warns humanitarian access is ‘constrained’. A humanitarian aid convoy has reached Syria’s Druze-majority Suwayda province as the United Nations warns that the humanitarian situation remains critical after last week’s deadly clashes displaced thousands and left essential services in ruins. Clashes in Druze-majority Suwayda province, which began on July 13 and ended with a ceasefire a week later, initially involved Druze fighters and Sunni Bedouin tribes, who have been fighting for decades. Later, government forces joined the fighting on the side of the Bedouin armed groups. State television reported…
Antonio Guterres calls for ‘a decisive turning point’ at international conference boycotted by the US and Israel. Dozens of ministers have gathered at a United Nations conference to urge the world to work towards a two-state solution between Israelis and the Palestinians, but the United States and Israel have boycotted the event. The 193-member UN General Assembly decided in September last year that such a conference would be held in 2025. Hosted by France and Saudi Arabia, the conference was postponed in June after Israel attacked Iran. Addressing the attendees on Monday, Saudi Foreign Minister Prince Faisal bin Farhan Al…
The Tasis Alliance, a coalition of Sudanese armed groups formed in February, has unveiled a parallel ”transitional peace” government to rival Sudan’s wartime government in Port Sudan. Tasis is based on a partnership between the Rapid Support Forces (RSF) and the Sudan People’s Liberation Movement-North (SPLM-N), a powerful armed group that controls swaths of South Kordofan and Blue Nile states in southern Sudan. SPLM-N has been fighting a rebellion against the central government and the Sudanese Armed Forces (SAF) for 40 years – a conflict rooted in aggressive land grabs by central elites. The RSF and SAF are former allies,…
Global hunger fell in 2024 for a third straight year, but conflict and climate shocks deepened crises in Africa and the Middle East. Global hunger levels declined for a third consecutive year in 2024, according to a new United Nations report, as better access to food in South America and India offset deepening malnutrition and climate shocks in parts of Africa and the Middle East. Around 673 million people, or 8.2 percent of the world’s population, experienced hunger in 2024, down from 8.5 percent in 2023, according to the State of Food Security and Nutrition in the World report, jointly…