Russia official says Trump’s threat will not stop work on BRICS payment system, RIA reports

(Reuters) – Work will continue on the BRICS settlement system despite U.S. President-elect Donald Trump’s threat to impose 100% import duties on countries that try to undermine the dollar, the RIA news agency cited a senior Russian official as saying on Friday. Trump last week demanded that BRICS member countries commit to not creating a …

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China’s Xinjiang Cotton Association calls on international brands to restore cotton use

HONG KONG (Reuters) – China’s Xinjiang Cotton Association said that international brands should give “full respect and trust” to Xinjiang cotton, following an executive’s comment last week that clothing company Uniqlo does not take supply from the region.  The association called on brands like Uniqlo to resume the use of cotton from China’s far western …

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S.Korea commander says he will refuse to implement any new martial law order, say media reports

SEOUL (Reuters) – South Korea’s special warfare commander said he will refuse to implement any new order for martial law, media reports quoted him as saying. Kwak Jong-geun, the special warfare commander, also said the then defense minister had issued an order to “drag out lawmakers” who came to parliament to vote to lift the …

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China seeks feedback on draft guidelines to measure steel sector emissions

BEIJING (Reuters) -China is seeking public feedback on new guidelines for the reporting of greenhouse gas emissions from the steel industry, the environment ministry said on Friday, part of efforts to prepare mills for their entry into the country’s carbon market. China issued a draft plan in September to extend its emissions trading scheme to …

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Japan’s soft consumer spending unlikely to deter BOJ from raising rates again

By Satoshi Sugiyama TOKYO(Reuters) -Japanese household spending fell at a slower pace than forecast in October, but while the broader consumption trends remain soft the Bank of Japan is still expected to raise rates again to normalise monetary conditions after a decade of easy policy. Some analysts say a recovery in wages would eventually spur …

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Blinken tells S.Korea’s foreign minister he expects democratic process to prevail

(Reuters) – U.S. Secretary of State Antony Blinken on Thursday spoke to his South Korean counterpart Cho Tae-yul, welcomed the lifting of martial law and said he expected the democratic process to prevail in the country, according to a State Department readout. “The Secretary conveyed his confidence in the democratic resilience of the ROK during …

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