Cuba, Niger, Trump, & more!

Good Afternoon- Four Nigerian men embarked on a courageous journey, crossing the vast Atlantic Ocean as stowaways on a cargo ship, enduring ten challenging days in a tiny space above the ship's rudder. Their limited food and water supplies ran out, and they resorted to drinking seawater to survive. Finally, they were rescued by Brazilian federal police in the port of Vitoria, only to discover they had ended up in Brazil instead of Europe, as they had hoped. Two of them returned to Nigeria, while Thankgod Opemipo Matthew Yeye and Roman Ebimene Friday sought asylum in Brazil, driven by the economic hardships, political instability, and crime they faced back home. Their incredible journey sheds light on the risks and sacrifices migrants are willing to make for a chance at a better life, showing the challenges and aspirations of those seeking hope and opportunity in an uncertain world.

Global insights

Cuba limits cash transactions

So, the Cuban Central Bank recently made some rules to deal with their economic issues. They banned both state and private businesses from using ATMs and put limits on cash transactions between them. The goal is to control inflation and the hidden business happening outside the official system.

The new rules came into effect on Thursday and set a maximum of 5000 pesos for cash transactions, which will be gradually implemented over six months.

Cuba has two ways to exchange money: the government's official rate and the informal market rate. The government sets the dollar at 24 pesos, but on the informal market, it's much higher at 230 pesos. To tackle inflation, the government is promoting electronic payments and encouraging "banking" in the country.

The Cuban economy has been struggling, and GDP grew only 1.8% in the first half of the year, still far below pre-pandemic levels. This has caused shortages of essential goods like food, medicine, and fuel, leading to long lines when they are available.

The new regulations aim to move away from cash transactions and promote the use of electronic payment methods. Businesses will have to deposit their earnings in the bank, and any transactions above the cash limit must be done digitally.

Some people criticize the move, saying it's like freezing bank assets and might cause problems for private businesses. But the Central Bank believes it will help bring more money back into the official banking system and protect the public's interests.

Overall, Cuba is taking steps to deal with its economic challenges, and they hope these measures will lead to a more stable financial situation.

Overview of the Niger coup

In the West African nation of Niger, a tense and uncertain situation unfolded when the commander of the country's presidential guard, Gen. Abdourahmane Tchiani, led a coup and ousted President Mohamed Bazoum, who had been democratically elected. The crisis began when members of the presidential guard surrounded the president's palace in the capital, Niamey, and held him hostage. Anti-coup demonstrators took to the streets, demanding Bazoum's release, but they faced a violent response from security forces.

The coup leaders cited the deteriorating security situation and governance issues as their reasons for taking control of the country. Niger has been grappling with challenges related to Islamist insurgencies and economic hardships. The military claimed their intervention aimed to avoid internal conflicts within the security forces.

This coup has raised concerns about Niger's democratic progress, as the country has experienced several military coups since gaining independence from France in 1960. President Bazoum's election marked Niger's first peaceful transfer of power, making the situation even more significant.

The repercussions of the coup could extend beyond Niger's borders, as Western countries and the ECOWAS bloc have condemned the takeover and threatened sanctions and possible military intervention to restore Bazoum to power. Niger was a vital partner in the fight against Islamist insurgents in the Sahel region, and the coup has triggered anti-French sentiment, with some considering Russia as a potential alternative partner.

The aftermath of the coup remains uncertain, with potential domestic unrest, increased militant activities, and severe socio-economic consequences due to possible sanctions. The military junta faces opposition from both the international community and segments of the Nigerien population, creating a delicate and unstable situation.

The events in Niger have far-reaching implications for the country and the broader region. The outcome will determine the country's future alliances, stability, and security, and it could impact the fight against insurgencies in the Sahel. As the nation navigates these challenges, the world watches closely to see how the situation unfolds and its potential consequences.

Basics of the Trump indictment

Donald Trump has been indicted again on four federal charges related to his efforts to overturn the results of the 2020 election. The indictment, the third criminal case against Trump, sheds light on the events leading up to the situation at the U.S. Capitol. The charges include conspiracy to defraud the U.S. government, conspiracy to obstruct an official proceeding, obstruction of an official proceeding, and conspiracy against rights. The indictment alleges that Trump spread lies about the election results for months, even after the Capitol riot, in an attempt to delay the certification of votes that confirmed his defeat. The charges are very broad, aiming to “umbrella” Trump & nail him with many different offenses under the same charge of defrauding the U.S Government

This marks the first time a defeated president is facing legal consequences for attempting to hold on to power after losing an election. The indictment references several co-conspirators, both inside and outside the government, who collaborated with Trump to challenge the election results.

Trump is due to appear in court for his arraignment, and if convicted, he could face significant prison time and fines. However, legal experts have noted that a conviction would not necessarily prevent him from seeking the presidency again.

The indictment comes amid an ongoing investigation into the Capitol riot, which has led to charges against more than a thousand individuals, including some for seditious conspiracy.

Trump has vehemently denied the charges, and his legal team has criticized the timing of the indictment, calling it politically motivated. Despite these legal challenges, Trump remains the leading candidate for the Republican presidential nomination in 2024, according to recent polling.

Trending

Refugees in Central Park

New York City officials are exploring various options to find housing for the large number of asylum seekers who have arrived in the past 15 months, totaling more than 95,000 individuals. Among the potential locations being reviewed are Manhattan's Central Park, Brooklyn's Prospect Park, and Randall's Island. These sites are part of a list of 3,000 locations under consideration by the city. Deputy Mayor for Health and Human Services, Anne Williams-Isom, stated that they are keeping all possibilities open in their efforts to find suitable accommodation for the asylum seekers. While the news site Gothamist reported the consideration of erecting tents in the mentioned parks, the discussions have not been confirmed by official sources and remain anonymous.

U.S Navy sailors arrested for sharing information with China

Two U.S. Navy sailors were arrested for providing sensitive national security information to China. Petty Officer Wenheng Zhao, 26, is charged with conspiracy and taking bribes for sharing photographs and videos of sensitive U.S. military data. The other sailor, Jinchao Wei, was charged with conspiring to send national defense information to China in exchange for money. Zhao allegedly shared plans for U.S. military exercises, electrical diagrams, and blueprints for a radar system in Okinawa, Japan, and security details for U.S. naval facilities in California. Wei is accused of disclosing information about the USS Essex and other American warships. U.S. officials have condemned China's espionage campaign, while China has denied the allegations.

Argentina gets loan from Qatar

Argentina's government has secured a $775 million loan from Qatar to repay the International Monetary Fund (IMF) on Friday. The country is facing a severe economic crisis, with high inflation and dwindling central bank reserves. To avoid using its own reserves, the loan from Qatar will be used, carrying the IMF's variable interest rate of 4.033% per annum. The funds will cover Argentina's payment to the IMF on August 4, 2023. Additionally, the country will use a $1 billion bridge loan from a regional development bank and $1.7 billion from a swap with China to complete part of a previous payment to the IMF.

Tate brothers released from house arrest

A Bucharest court ruled to release Andrew & Tristan Tate from house arrest while they await trial on charges of human trafficking. They has been placed under judicial control, which is a lighter restrictive measure. Andrew expressed his belief in his innocence and praised the Romanian judicial system for the decision. The court also imposed restrictions, limiting him to Bucharest and surrounding areas, and he cannot be in close proximity to other defendants, witnesses, or alleged victims. The trial will not start until a judge inspects the case files to ensure legality.

Who are the Yakuza and where are they now?

The Yakuza is a powerful criminal organization from Japan, often called the "Japanese Mafia." They are known for their distinctive tattoos and strict code of conduct. Though once very influential, their membership has declined in recent years.

The Yakuza is internationally famous due to their unique style, which is often depicted in Japanese art and media.

The group engages in various illegal activities, including extortion, prostitution, trafficking, violent crimes, and white-collar schemes.

The Yakuza used to be viewed as a necessary evil, and they gained a reputation for helping and protecting everyday people. This was partly due to their code of conduct, which forbids stealing from regular citizens and promotes chivalry. Yakuza members who break these rules face harsh punishment from within their organization.

The Yakuza organization is structured like a fiefdom, with different syndicates working together, each with its own specialties and hierarchy.

The origins of the Yakuza are not entirely clear, but they likely started forming during the 1800s. They evolved from small gangs of gamblers and loan sharks and expanded into other criminal activities over the years.

While the Yakuza are still present in Japanese society, their influence has decreased. New laws and advanced surveillance technologies have made it harder for them to operate.

The largest Yakuza syndicate today is the Yamaguchi-gumi, based in Kobe, which mainly focuses on gambling, trafficking, and the sex industry.

Despite their criminal activities, the Yakuza are also depicted as honorable gangsters in Japanese culture, and some people view them as chivalrous and principled figures, similar to Robin Hood.

The Yakuza follows a strict hierarchy with an oyabun (boss), wakagashira (right-hand man), shateigashira (regional bosses), kyodai (big brothers), and shatei (little brothers).

Yakuza members are known for their distinctive tattoos, which are received during a special ceremony and often feature traditional Japanese imagery.

In recent years, there have been concerns that other criminal groups, such as the Chinese Dragons, are infiltrating the Japanese criminal underworld that was once controlled by the Yakuza.

The Yakuza's numbers have decreased significantly over the years due to stricter laws, economic challenges, and a lack of interest from younger generations in joining gangs.

Though they have declined, the Yakuza remains a significant part of Japanese urban culture and continues to influence various aspects of society.

Fast Facts

• In 2014, Putin was nominated for the Nobel Peace Prize for persuading Assad to peacefully surrender Syria's weapons.

• Archaeologists in Serbia found an old Roman ship in a coal quarry. They're carefully cleaning the wood and want to preserve it. The ship might be from the 3rd or 4th century AD, when it served a big Roman city with a hippodrome and more.

• Spain still has a King.

• The days of the week are named after Viking gods

• Hawaii is the only U.S. state with two official languages

Quote of the week

Man conquers the world by conquering himself.

-Zeno