UNITED NATIONS - As the choppy waters of September 2015 move ashore, all eyes will be on Pope Francis’ visit to the United States, jittery stock markets and signs in the heavens. Francis is expected to enthusiastically endorse a new UN document that promises to wipe out poverty by 2030 by reordering the world economy along the lines of socialist principles. The document, titled “Transforming Our World: 2030 Agenda for Sustainable Development,” also seeks to “strengthen universal peace” and usher in a new era of shared prosperity.
UK - No one wants to stand in the way of technological innovation. But outlawing cash? That is surely a step too far. Trying to get a plumber in France? In the rather unlikely event that you can actually find one who isn’t still on his grandes vacances, gone above his permitted 35 hours a week, or indeed long since relocated himself to South Kensington, then you’ll also have to make sure that you can pay by cheque or bank transfer.
UK - Global markets are getting smoked again. The Dow is down 540 points (3.3%), the S&P 500 is down 66 (3.3%), and the Nasdaq is down 155 points (3.2%). It was a bloodbath in Europe, with Britain's FTSE down 3.0%, Germany's DAX down 2.3%, France's CAC 40 down 2.4%, and Spain's IBEX down 2.6%. Asian markets closed deep in the red, with Japan's Nikkei plunging 3.8%, Hong Kong's Hang Seng falling 2.2%, and China's Shanghai Composite tumbling 1.3%. In the commodities markets, oil is getting slammed with WTI crude futures down 7%.
RUSSIA - Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries. This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union. “This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from the Kremlin. The bill would also help to facilitate trade in the region and help to achieve macro-economic stability.
CHINA - China's central bank has put the Russian ruble into circulation in Suifenhe City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble is being introduced in place of the US dollar. The announcement was made on Saturday by Jin Mei, deputy secretary for monetary policy at the opening ceremony of a trade exposition in Suifenhe, reported state-run Xinhua news agency. The newly-adopted initiative is to promote bilateral trade relations and boost tourism, enabling Russians traveling to the Chinese region to pay for their expenses directly in rubles. This year’s six month Russia-China financial results look promising with yuan-denominated payments reaching the value of $1.32 billion, added Mei. Wu Qinglan, executive vice-mayor of the Chinese city, believes the program guarantees a long-term outlook.
EUROPE - The German Chancellor said for the first time that the Schengen zone, which allows passport-free travel across mainland Europe, cannot continue in its current form unless other EU countries accept their share of migrants. Mrs Merkel said that while she did not want freedom of movement rules to be tightened, the issue would arise if responsibility for accepting migrants was not shared. Her comments echo those made by Thomas de Maiziere, the German interior minister, who also raised the prospect of border controls earlier this month. And they signal that European leaders are beginning to question whether the EU can continue to exist with open borders as it struggles to cope with the hundreds of thousands of migrants coming into the continent from Africa and the Middle East.
BULGARIA - Five men have been arrested as they attempted to cross the Bulgarian-Macedonian border with decapitation videos and Islamic State propaganda on their phones. The terrorist suspects had been posing as refugees. Bulgarian authorities near the Gyueshevo border checkpoint detained the five men, aged between 20 and 24, late on Wednesday, Bulgarian broadcaster NOVA TV reported.
ISRAEL - Yehuda Glick commends new minister of internal security, hints that he favors Jewish ascent to Temple Mount. Yehuda Glick, Chairman of the Temple Mount Heritage Fund, told Arutz Sheva Tuesday that he was shocked to learn that a sign in Hebrew had been placed at the entrance to the Temple Mount, stating that visits and tours of the Mount have to be coordinated in advance. After contacts with the police, the sign was removed.
RUSSIA - Russian scientists have begun their quest to clone pre-historic animals, including but not limited to a woolly mammoth, hoping that Siberian permafrost will give them a competitive advantage and the good possibly of finding undamaged DNA samples to resurrect the ancient species.
GERMANY - The German government is firmly committed to promoting the German arms industry. According to a "strategy paper" recently adopted by the cabinet, the government is planning to "increase investments" in the development of "defense-related technologies."
UK - Lack of sleep is the most important factor in determining whether someone will catch a cold, new research has found. Sleepers who managed fewer than six hours of slumber each night are four times more likely to get ill than those who manage at least seven. It is the first study to categorically connect people's natural sleeping habits with their risk of picking up a virus. Sleep was found to be a more important factor in catching a cold than stress, smoking, education, or income, all of which are known to impact on overall health. Researcher Professor Derk-Jan Dijk, who leads a sleep and physiology unit at Surrey, said sleep was a fundamental ‘pillar of health’ alongside diet and exercise. Professor Dijk, said: “Insufficient sleep, defined as inadequate or mis-timed sleep, is increasingly recognised as contributing to a wide range of health problems.”
EUROPE - European bosses are threatening to scrap free movement within its nations and bring back border controls as the migrant crisis deepens across the continent. German chancellor Angela Merkel said the Schengen zone, which allows people to move across 26 European countries without the need for passports checks, could not continue unless all nations take in a share of immigrants.
UK - Only European migrants with jobs lined up should be allowed in to the UK, Theresa May has said, as she blamed Europe's "system of no borders" for the recent migration crisis. The Home Secretary said the principle of free movement within the EU has allowed jobless citizens to move countries in search of work and benefits, putting pressure on public services and infrastructure. She added that the events of this summer, which has seen hundreds of thousands of migrants and refugees risking their lives to reach Europe, should act as a "wake-up call" to EU leaders. Earlier this week official data showed net migration in to Britain had reached a record high, hitting 330,000 in the year to March. Mrs May said the figure was "far too high" and "simply unsustainable".
EUROPE - The Czech Republic should defend its borders, using the army to expel “illegal immigrants” because the European Union isn’t curbing the influx of refugees into the bloc, President Milos Zeman said. Zeman’s comments echoed those of other politicians calling for the EU to take action to stem the flood of people into the region from Syria and other conflict areas as they travel through Greece and the Balkan states to western Europe. “Of course I would wish for the EU to strengthen its borders, but I don’t see any real action,” Zeman told reporters in Prague Castle on Monday. “Therefore I believe the Czech Republic should take of its borders alone and expel illegal immigrants from the borders, including with the use of the army.”
CHINA - It is never possible to be sure that we aren’t about to face disaster. Some people seem to have made a living by foreseeing trouble ahead. The American stock market has “forecast” something like 10 of what turned out to be the past two recessions. And there is no reason why the Chinese stock market shouldn’t follow the same pattern.