NEWS: JUNE 26 – 2022





Russia hits the goldmine in Uganda



The African country of Uganda is in the limelight again and this time it is literally shining gold. Good news is piling up for Uganda. The country has recently announced the discovery of a deposit of 31 million tonnes of gold ore, with extractable pure gold estimated to gross 320,000 tonnes.

The discovered gold is expected to mine the country in excess of a whopping $12 Trillion. If you are facing difficulty processing how exorbitant the amount is then let me help you. The amount is approximately 4 times India’s annual GDP.





Biden: G-7 to Ban Russian Gold in Response to Ukraine War



President Joe Biden said Sunday that the United States and other Group of Seven leading economies will ban imports of gold from Russia, the latest in a series of sanctions that the club of democracies hopes will further isolate Russia economically over its invasion of Ukraine.

A formal announcement was expected Tuesday as the leaders hold their annual summit.






Group of Seven leaders on Sunday pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China’s older, multitrillion-dollar Belt and Road project.

U.S. President Joe Biden and other G7 leaders relaunched the newly renamed “Partnership for Global Infrastructure and Investment,” at their annual gathering being held this year at Schloss Elmau in southern Germany.






The Biden administration has chosen to follow Germany, providing heavy subsidies for wind and solar, while suppressing industries that could reliably meet America’s energy needs and even reduce its carbon footprint. In January, the administration announced that it had “pulled every lever to position America to scale up clean energy … the Biden-Harris Administration has readied offshore areas to harness power from wind, approved new solar projects on public lands, and passed the Bipartisan Infrastructure Law to build thousands of miles of transmission lines that deliver clean energy.”






The South China Morning Post reported on June 24 that Wang Xiaohong, 64, was promoted to minister of public security to oversee policing, replacing the retired Zhao Kezhi.

Wang Xiaohong is Xi Jinping’s close ally.

The move is a significant reshuffle of central and local governments in preparation for the upcoming congress of the ruling Communist Party, which will be held later this year.

Link: THE BL






Recently, bank runs have happened across China. It started in central China’s Henan province earlier this year, and spread to east China’s Shanghai, south China’s Shenzhen, north China’s Dandong, and central-east China’s Jiujiang.

Some banks will only serve a limited number of customers per day. Some banks limit each customer’s withdrawal to no more than about 149 dollars. Others closed their branches and even the ATMs are reportedly empty.

And now, China’s largest third-party mobile and online payment platform, Alipay, is facing a bank run. According to iResearch Consulting Group data from 2020, Alipay accounts for over half of all transactions on the mainland.

Link: THE BL





These poor dogs have just been rescued from the truck headed to China’s Yulin Dog Meat Festival on June 21 by the animal activists in Xian, China. 368 dogs were crammed into old wire cages and packed into the truck. In recent years, domestic and international activists have been working to eliminate traditional annual events such as the Dog Meat Festival in China. However, they can’t stop the annual slaughter of thousands of dogs.

Link: THE BL


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