The team of the outgoing European Commission's spokespeople said an emotional ‘goodbye’ to the Brussels press corps today, pending the commencement on Monday (3 November) of a revamped service working for the Juncker Commission.
Ukrainian President Petro Poroshenko has said that he wants the current prime minister, Arseniy Yatsenyuk, to remain in his post, after the premier's party came first in the elections last Sunday.
President Nursultan Nazarbayev’s efforts to promote Islamic finance and banking were rewarded Oct. 28 when he received the Global Islamic Finance Award (GIFA) at the 10th World Islamic Economic Forum (WIEF) in Dubai.
One irony about the fight against Islamic State is that the nations now striking the extremist group the hardest also dislike each other the most.
Fears of Russia re-asserting its Cold War dominance in the Baltic Sea are forcing countries there to re-think their defenses, prioritizing military spending at home and reducing participation in far-flung U.N. or U.S.-led missions.
Kazakhstan is keen to strengthen the United Nations further and is willing to assist in expanding its presence in the country, including through the establishment of a UN regional diplomacy hub in Almaty, the country’s foreign minister said.
The existing system of global security is of little use to reflect current threats
Lithuania's new liquefied natural gas (LNG) terminal in Klaipėda will be able to cover around 90 percent of the gas needs of Lithuania, Latvia and Estonia, Lithuanian President Dalia Grybauskaitė said on Monday.
Iran and Nuclear Nonproliferation
Oil prices have been recently falling; many commentators wonder why. After all, this is quite a surprise, if we consider the current turbulences in oil-rich Middle East. One possible explanation is the global slowdown of the world economy; after all, China’s growth is by now in the region of 7-8%, clearly less than the 11-12% it recorded just few years ago; India, too, has slowed down; the two giants together represent more than 2.5 billion people and of course have a huge impact on the global demand. Another explanation points to USA investment in shale energy. While it is true that USA shale oil extraction has risen by 53% in the years 2008-13, and the States might become the world’s largest oil producer in 2014, it is also true that this boom might not last long. Drilling costs are high and in 2013 USA domestic production still covered only 55% of its overall consumption. In other words, the shale oil boom might remain a temporary phenomenon. Leaving aside American shale, what has surprised the markets has mainly been Saudi Arabia’s choice to cut oil prices, as announced on October 1 (Wall Street Journal, 1 October) and followed by further cuts in other Gulf countries.