Luckily we have Good Hands, Cuba now Pokkai badly as it has no money, right Boss John

[k1976]

There is no money’: BRIC Cuba fears total collapse amid grid failure and financial crisis​

Ruaridh Nicoll in Havana
Sat, 26 October 2024 at 9:57 PM SGT5-min read

Residents prepare a soup over an open fire during a blackout after the failure of a major power plant in Havana on 19 October.Photograph: Ramón Espinosa/AP
Maria Elena Cárdenas is 76 and lives in a municipal shelter on Amargura Street in Havana’s colonial old town. The building has an elegant past, but for the last few days Maria has been cooking with sticks she had found on the street.
“You know, we Cubans manage the best we can,” she said. She lives in the shelter because her home collapsed, a regular occurrence in the poorest, oldest parts of the beautiful city.
Cuba’s government has spent the last days attempting to get the island’s national grid functioning after repeated island-wide blackouts. Without power, sleep becomes difficult in the heat, food spoils and the water supply fails.
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Related: The Cuban Collapse – a photo essay
Parts of Cuba’s communist system still function: the municipality sent Maria food. “We are three families here,” she said. “I live alone, the lady who lives next to me [does] also, and there are two children, the children’s mother, her aunt and an elderly man.”
A week after the blackout, the island has returned to the status quo ante with regular power cuts of up to 20 hours a day. But the crisis has left a deep, melancholy dread about the future.
“Cubans have a cheerful idiosyncrasy,” said Julio César Rodríguez, 52. “Even when things are bad we laugh. But this is really bad.”
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This current crisis began on 17 October, when an order went out for all non-essential state workers to go home.
The effort to save power didn’t save the system, and a day later, the island went dark. Antonio Guiteras, one of the main power stations, shut down, crashing all the other big generating stations in the system.
“It’s very hard to restart a power station,” said a retired engineer from Antonio Guiteras, who asked to remain anonymous. “You need to produce a lot of electricity just to get it going.”
Antonio Guiteras was built in 1989, and is now battered and obsolete. “The truth is that it was built rotten,” said the engineer. He told harrowing stories of working with faulty safety equipment, political management who would disappear when problems arose and a system long pushed to its limit.

 

[k1976]

Boss LaoTze, why Cuba join BRIC still like that hah?

BRICS approves Cuba, Bolivia, and 11 other countries as 'partner states'​

The Russian presidency is now holding consultations with these invited countries to formalize their membership​

Serguei Monin
Brasil de Fato | Kazan (Rússia) |
24 de outubro de 2024 às 12:00
Leia em português

BRICS leaders meet during a plenary session at the summit in Kazan on October 24, 2024 - Maxim Shemetov / POOL / AFP
The BRICS countries have agreed to include 13 nations in the category of "partner states" in the association. However, the entry of these countries will not be made official during the summit. According to this definition, the Russian presidency will hold consultations with the partner countries to make membership of the BRICS official. The figure was confirmed earlier by Russian presidential aide Yuri Ushakov.

The group of countries invited to join the BRICS as "partner states" includes Turkey, Indonesia, Algeria, Belarus, Cuba, Bolivia, Malaysia, Uzbekistan, Kazakhstan, Thailand, Vietnam, Nigeria, and Uganda.

According to diplomatic sources from the Brazilian delegation in Kazan heard by Brasil de Fato, Venezuela was left off the list due to Brazil's veto, which was presented during the preliminary negotiations of the summit.
Brazilian Foreign Minister Mauro Vieira stated that the leading BRICS countries have reached a consensus on the 'criteria and principles' that will guide the bloc's future expansion. He made this announcement on Wednesday (23) during a press conference with Brazilian media at the 16th BRICS Summit in Kazan, Russia.

“The discussion focused on the criteria and principles for future BRICS expansion. Currently, there are 10 member countries, but there will be more in the future. These principles and criteria have been discussed, approved, and agreed upon,” said Vieira.
“This has been our primary task in recent days, led by the Sherpas. Regarding the list of new members, consultations will begin soon. The Russian presidency will consult with each current member, and we will announce the countries. If not by the end of the year, then next year, and the responsibility will pass to the Brazilian presidency,” he added.
The final document of the 16th BRICS Summit, the "Kazan Declaration," confirmed the establishment of the category of "BRICS Partner Countries, highlighting considerable interest from Global South nations."

 

[k1976]

BRIC will still Huat Big Big de woh??

 

[k1976]

Jiuhu Boleh Boleh Boleh!!​

​

Malaysia is officially a Brics ‘partner country’ now​

Malay Mail

Russia’s President Vladimir Putin speaks during a plenary session in the outreach/Brics Plus format at the Brics summit in Kazan on October 24, 2024. AFP


The announcement comes after Prime Minister Datuk Seri Anwar Ibrahim confirmed in July that Malaysia has formally applied to become a Brics member state.

“Brics” started off as just “Bric”, which stood for its founding members Brazil, Russia, India and China. Last year, Brics initiated its first round of expansion and four more countries joined: Iran, Egypt, Ethiopia, and the UAE. The name of the alliance, however, stayed as Brics.

Currently chaired by Russia, the bloc comprises 45% of the global population and their combined economies are worth US$26.6 trillion — representing 28 per cent of the global economy.

On Friday, economy minister Rafizi Ramli told the Brics Plus Summit that the bloc would reap synergies in its trade ties with Asean next year, as Malaysia takes the chairmanship.

Besides Malaysia, 12 other countries were recognised as “partner country”: Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

A “partner country” status is meant to assess “how ready they are for full-fledged or any other Brics membership”, Russian presidential aide Yury Ushakov reportedly told Russian news agency Tass on Wednesday.

In total, nearly 50 countries worldwide have publicly expressed their intention of joining Brics.

 

[JurongEast]

I can confirm Cuban will become the developed country in less than 10yrs. Cuba will soon export their Cuban cigar to China. Huat big time

 

[congo9]

Hahah.
The bric big wigs didn't send some fuel for cuba ?

 

[k1976]

China Gold Demand Plunges as Record Prices Deter Jewelry Buyers​

• Consumption slumps 22% in the third quarter, council data show
• Nation’s economic slowdown weighing on consumers’ confidence

By Bloomberg News
28 October 2024 at 12:20 PM SGT
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Gold demand in China — the world’s biggest consumer — plunged by more than a fifth in the third quarter as record prices and a sluggish economy dented consumption, especially for jewelry.
Total demand fell by 22% to 218 tons in the three months to September, according to Bloomberg calculations based on data from the China Gold Council on Monday. Jewelry consumption tumbled 29% to 130 tons, while for bars and coins there was a 9% drop to 69 tons.

Hahah.
The bric big wigs didn't send some fuel for cuba ?

 

[k1976]

Chinese Economic Slowdown Looks Even Worse Across Some Provinces​

By Bloomberg News
28 October 2024 at 12:16 PM SGT
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Translate

Chinese provinces that account for about a third of the economy are enduring a worse year than the nation as a whole, succumbing to a slowdown that likely swayed the government in moving ahead with a range of stimulus measures last month.

Only five mainland provinces are seeing real gross domestic product growing faster this year than the whole of last year, according to Bloomberg calculations based on official figures.

Of the 26 provinces that have reported third-quarter data, 11 experienced a steeper deceleration than the national slowdown.

 

[k1976]

China's industrial profits plunge at fastest pace since the pandemic​

PUBLISHED SUN, OCT 27 2024 11:01 PM EDTUPDATED 2 HOURS AGO

Anniek Bao
@ANNIEKBYX@IN/ANNIEK-YUNXIN-BAO-460A48107/
WATCH LIVE

KEY POINTS

• China's industrial profits in September dropped at its fastest pace since the pandemic, data from the National Bureau of Statistics showed.
• After a 17.8% fall in August, industrial profits declined 27.1% in September from a year ago, marking the steepest plunge since March 2020, which saw a 34.9% drop, according to data kept by Wind Information.
• Chinese authorities have ramped up measures in recent weeks to bolster growth.

 

[syed putra]

Jiuhu Boleh Boleh Boleh!!​

​

Malaysia is officially a Brics ‘partner country’ now​

Malay Mail

Russia’s President Vladimir Putin speaks during a plenary session in the outreach/Brics Plus format at the Brics summit in Kazan on October 24, 2024. AFP


The announcement comes after Prime Minister Datuk Seri Anwar Ibrahim confirmed in July that Malaysia has formally applied to become a Brics member state.

“Brics” started off as just “Bric”, which stood for its founding members Brazil, Russia, India and China. Last year, Brics initiated its first round of expansion and four more countries joined: Iran, Egypt, Ethiopia, and the UAE. The name of the alliance, however, stayed as Brics.

Currently chaired by Russia, the bloc comprises 45% of the global population and their combined economies are worth US$26.6 trillion — representing 28 per cent of the global economy.

On Friday, economy minister Rafizi Ramli told the Brics Plus Summit that the bloc would reap synergies in its trade ties with Asean next year, as Malaysia takes the chairmanship.

Besides Malaysia, 12 other countries were recognised as “partner country”: Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

A “partner country” status is meant to assess “how ready they are for full-fledged or any other Brics membership”, Russian presidential aide Yury Ushakov reportedly told Russian news agency Tass on Wednesday.

In total, nearly 50 countries worldwide have publicly expressed their intention of joining Brics.

Plus Vietnam, Thailand and Indonesia.

 

[k1976]

China launches new lending tool ahead of year-end loan expiry​

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China, on Sep 28, 2018. (Photo: REUTERS/Jason Lee)
28 Oct 2024 12:02PM
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BEIJING: China's central bank launched a new lending tool on Monday (Oct 28) to inject more liquidity into the market and support credit flow in the banking system ahead of the expiration of trillions of yuan in loans at the end of the year.

The People's Bank of China said in a statement it had activated the open market outright reverse repo operations facility to "maintain a reasonable abundance of liquidity in the banking system and further enrich the central bank's policy toolbox".

Some 2.9 trillion yuan (US$406.58 billion) in medium-term loans are due to mature between now and the end of December, which would make it harder for banks to finance investment and revive flagging growth in the world's second-largest economy.

Despite taking effect today, the PBOC did not mention the new tool in Monday's open market operations statement.

In a separate statement announcing the new facility, the PBOC said it would use it to trade with primary dealers in OMO on a monthly basis.

The announcement said the new tool would have a tenor of less than one year, longer than those for regular reverse repo operations, which typically have tenors of seven, 14 or 28 days, are conducted daily and normally require collateral.

 

[syed putra]

Cuba under US sanctions since the 1960's. Because it's communist.
Venezuela is socialist. But unlike Venezuela, Cuba has no minerals.

 

[k1976]

Plus Vietnam, Thailand and Indonesia.

All a lot Chiobu to sell internationally

 

[k1976]

Plus Vietnam, Thailand and Indonesia.

Durians as well?

 

[congo9]

China launches new lending tool ahead of year-end loan expiry​

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China, on Sep 28, 2018. (Photo: REUTERS/Jason Lee)
28 Oct 2024 12:02PM
BookmarkShare

BEIJING: China's central bank launched a new lending tool on Monday (Oct 28) to inject more liquidity into the market and support credit flow in the banking system ahead of the expiration of trillions of yuan in loans at the end of the year.

The People's Bank of China said in a statement it had activated the open market outright reverse repo operations facility to "maintain a reasonable abundance of liquidity in the banking system and further enrich the central bank's policy toolbox".

Some 2.9 trillion yuan (US$406.58 billion) in medium-term loans are due to mature between now and the end of December, which would make it harder for banks to finance investment and revive flagging growth in the world's second-largest economy.

Despite taking effect today, the PBOC did not mention the new tool in Monday's open market operations statement.

In a separate statement announcing the new facility, the PBOC said it would use it to trade with primary dealers in OMO on a monthly basis.

The announcement said the new tool would have a tenor of less than one year, longer than those for regular reverse repo operations, which typically have tenors of seven, 14 or 28 days, are conducted daily and normally require collateral.

Lending tool is good.
But you must have enough $$ or Yuan to lend out.

 

[Pinkieslut]

Another shit hole country. The communist revolution drove the high ses white skinned Spanish types off the island, left with the niggers and low ses mongrels you can guess what will happen next. The Cuntry is so big with lots of fertile land and good location right next to USA.