Hong Kong's chief executive, Eddie Yue, stated that the city has no intention to change its currency system, which pegs the Hong Kong dollar to a tight band with the US dollar. The Linked Exchange Rate System (LERS) allows the Hong Kong Monetary Authority (HKMA) to intervene in maintaining the exchange rate between 7.75 and 7.85 per US dollar. Despite recent speculation about potential geopolitical shocks, the system has operated smoothly, according to Yue. He noted that Hong Kong's sizeable foreign reserves of over $420 billion ensure the stability of the LERS. Analysts at Barclays predict that the Hong Kong dollar will remain close to 7.75 per dollar in January before weakening subsequently due to global factors and a decline in IPO activity.
https://channelnewsasia.com/business/hong-kong-sees-no-need-change-us-dollar-pegged-currency-system-4847796India has agreed to provide further material support to Afghanistan's health sector and refugee rehabilitation after a meeting between Indian Foreign Secretary Vikram Misri and Afghan Acting Foreign Minister Mawlawi Amir Khan Muttaqi in Dubai. This decision follows several shipments of wheat, medicines, Covid vaccines, and winter clothing that India has already dispatched to the country. Despite not recognizing the Taliban government, which seized power in 2021, India is considering engaging with them on development-related projects in the near future as part of its humanitarian assistance programme.
https://www.thenews.com.pk/print/1270231-india-to-consider-engaging-in-development-projects-in-afghanistanIndia's Foreign Secretary Vikram Misri held landmark talks with senior Taliban officials, including Defense Minister Mullah Yaqoob Muttaqi, in Dubai on Wednesday. The discussions focused on providing humanitarian aid, improving healthcare, rehabilitating refugees, and enhancing regional security through the Chabahar Port. This marked India's first formal engagement with the Taliban since their takeover of Kabul in 2021. Both sides explored opportunities for bilateral cooperation, including a potential partnership in sports, particularly cricket, which is popular among Afghanistan's youth. The Ministry of External Affairs described the talks as a significant step towards addressing Afghanistan's humanitarian and developmental challenges.
India has provided humanitarian aid to Afghanistan, including food, medicine, COVID-19 vaccines, and warm clothing, in response to a request from the Afghan government. The assistance is focused on supporting the country's health sector and helping refugees.
https://www.brecorder.com/news/40341765/india-to-consider-engaging-in-development-projects-in-afghanistanIndonesia's accession to the BRICS bloc is a strategic move that strengthens its position in global politics, particularly with major powers such as the United States and Western European countries. According to Deputy Chairperson of the People's Consultative Assembly Eddy Soeparno, this decision aligns with President Prabowo Subianto's mandate to adopt a free and active foreign policy while prioritizing national interests. By joining BRICS, Indonesia aims to expand its export market, increase economic growth to 7-8 percent, and tap into the bloc's significant economic influence, which has grown from 17 percent in 1995 to over 30 percent in 2022. This membership is expected to generate investment opportunities for infrastructure and renewable energy projects, as well as provide access to knowledge transfer from BRICS countries' specializations such as digitalization in India and technology in China.
https://en.antaranews.com/news/340694/brics-membership-to-boost-indonesias-influence-mprThe Indonesian government is urged to clearly communicate its position on joining the BRICS intergovernmental grouping to avoid misperception among global actors. Economist Wijayanto Samirin from Paramadina University suggests that Foreign Affairs Minister Sugiono should clarify Indonesia's stance, including through international news outlets, by emphasizing four key points: enhancing BRICS' role in driving economic cooperation, maintaining the existing international payment system, proceeding with OECD accession while highlighting its benefits for bargaining power, and reaffirming commitment to non-aligned geopolitical principles.
https://en.antaranews.com/news/340778/indonesia-must-make-stance-clear-after-joining-brics-expert?utm_source=antaranews&utm_medium=desktop&utm_campaign=popular_rightMinister for Planning Ahsan Iqbal directed relevant authorities to prepare proposals to enhance trade with Indonesian President Prabowo Subianto ahead of his visit from January 26-28. The minister chaired a meeting to discuss bilateral cooperation and trade between Pakistan and Indonesia, attended by senior officials from various ministries and the Secretary of the Special Investment Facilitation Council. Iqbal emphasized the need to showcase Pakistani products in the Indonesian market and promote collaboration in education, health, IT, and tourism. He suggested providing scholarships for students from both countries to facilitate mutual learning and capacity building. The visit is expected to strengthen economic, cultural, and people-to-people ties between the two nations.
Iran has condemned a French city for using offensive content against Iranian officials, calling it a violation of international principles. The director-general for Western Europe at Iran's foreign ministry, Majid Nili, urged the French government to take measures to prevent similar actions in the future. This comes as France advised its citizens to avoid traveling to Iran due to concerns over the detention of three French nationals, which Iran has called "baseless". The tensions between the two countries are also expected to be a key topic of discussion with the incoming US administration under President-elect Donald Trump.
https://www.khaleejtimes.com/world/mena/iran-condemns-french-citys-insulting-poster-of-supreme-leader-ayatollah-khameneiJapanese Prime Minister Shigeru Ishiba embarked on a trip to Malaysia and Indonesia, aiming to strengthen defense and economic ties with Southeast Asia as China's influence grows in the region. The visit demonstrates Japan's commitment to bolstering its relationships despite the potential decrease in US presence following President-elect Donald Trump's inauguration. Ishiba will meet with Malaysian Prime Minister Anwar Ibrahim to discuss security cooperation and stable supply chains, while also signing a deal for Japan to provide high-speed patrol boats to Indonesia.