International

ISLAMABAD: The global trade finance gap grew to a record $2.5 trillion in 2022 from $1.7tr two years earlier, as rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing, according to a report released by the Asian Development Bank (ADB) on Tuesday. The “2023 Trade Finance Gaps, Growth and Jobs Survey” says …

WASHINGTON: The US said on Monday it expects North Korean leader Kim Jong Un to make a rare trip abroad to meet President Vladimir Putin in Russia, where they are likely to discuss arms for Moscow’s war in Ukraine. The Kremlin said on Tuesday it was unable to confirm a summit between Putin and Kim. “We have nothing to say …

PARIS: France’s former domestic spy chief Bernard Squarcini will face trial in Paris on suspicion of influence peddling, largely for luxury giant LVMH, sources close to the case said on Tuesday. As well as the charge that he used his connections to benefit private interests, Squarcini will be tried for misuse of public funds and compromising national security secrets, judges …

BANGKOK: Thai King Maha Vajiralongkorn swore in Prime Minister Srettha Thavisin and cabinet ministers in a coalition government made up of 11 parties on Tuesday. Srettha, whose Pheu Thai party leads the coalition, and 33 cabinet ministers pledged their loyalty to the monarchy during the ceremony at the Dusit Palace in Bangkok. The government will deliver its policy statement to …

WASHINGTON: The US State Department has said it was up to the consular officials at the Pakistan Embassy to issue or reject a visa request by a US citizen, and it did not relate to them. The issue was raised after recent media reports claimed the Pakistan Embassy had denied visas to US citizens of Pakistani origin because of their …

NAIROBI: The world is losing the race to meet its climate change goals, the president of the upcoming COP28 summit said on Tuesday, as African leaders called for changes to what they say is an unfair international climate finance system. The grim assessment by Sultan Al Jaber, who will preside over the summit in the United Arab Emirates (UAE) in …

ISLAMABAD: Facing shortage of medicine, Pakistan has expressed the desire to seek cooperation of Iran to address the issue. The drug regulatory authorities of both the countries will devise a comprehensive strategy to ensure uninterrupted supply of life-saving drugs on a fast track basis. This was decided at a meeting attended by Minister for National Health Services (NHS) Dr Nadeem …

2023 is likely to be the hottest year in human history, and global temperatures during the Northern Hemisphere summer were the warmest on record, the EU climate monitor said on Wednesday. Heatwaves, droughts and wildfires struck Asia, Africa, Europe and North America over the last three months, with dramatic impact on economies, ecosystems and human health. The average global temperature …

Chinese Premier Li Qiang said on Wednesday it is important to avoid a “new Cold War” when dealing with conflicts between countries as world leaders gathered in Indonesia amid sharpening geopolitical rivalries across the Indo-Pacific region. Speaking at an annual summit involving members of the Association of Southeast Asian Nations (Asean) and China, Japan and South Korea, Li said countries …

LIBREVILLE: General Brice Oligui Nguema, who led a coup last week that toppled Gabon’s 55-year-old ruling dynasty, took the oath of office as interim president on Monday, promising “free, transparent and credible elections” to restore civilian rule but without giving a time frame. He also vowed amnesty to political prisoners, in a speech in which he insisted the coup had …