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Azerbaijan and China sign Comprehensive Strategic Partnership

Azerbaijan and China sign Comprehensive Strategic Partnership

China and Azerbaijan have announced the establishment of a comprehensive strategic partnership between the two countries following talks between Chinese President Xi Jinping and Azerbaijani President Ilham Aliyev in Beijing on 23 April. During the talks, President Xi said that both sides should continuously enhance political mutual trust, deepen practical cooperation and strengthen international collaboration to open a new chapter of all-round cooperation. President Aliyev was in China for  a state visit between 22 and 24 April.
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Great power interest in Central Asia putting Uzbekistan in the spotlight

Great power interest in Central Asia putting Uzbekistan in the spotlight

In recent times, Central Asia’s most populous nation has become the centre of attention for great powers, underscored by high level diplomatic contacts with the United States, the hosting of a regional summit with the leadership of the European Union and a high profile visit by hundreds of Russian officials and executives who participated in a trade fair in Tashkent. Western interest centres on Uzbekistan’s abundant reserves of critical minerals and a desire to develop clean energy  sources, including nuclear power. Russia, along with China, has broader trade interests, including developing manufacturing capacity.

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Pandemic puts pressure on Gulf States sovereign wealth funds

Pandemic puts pressure on Gulf States sovereign wealth funds

Sovereign wealth funds in the Gulf countries are facing unprecedented challenges due to the rise of deficit and pressure to increase financial obligations to their public budgets. The drop in crude oil prices, caused by the pandemic last year, forced Gulf countries to increase their borrowing and thereby withdraw from their sovereign wealth funds.
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Azerbaijan to spend $59 billion to rehabilitate territories, but development also requires peace

Azerbaijan to spend $59 billion to rehabilitate territories, but development also requires peace

Azerbaijan plans to spend up to $59 billion over the next ten years to rehabilitate the territories it has recently taken back after being for decades under Armenian control. It is a huge sum even for an oil rich country, but for President Ilham Aliyev developing the new territories now has become the primary mission of his presidency.
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Bahrain looks forward to reopening of King Fahd Causeway to ease post-Covid economic recovery

Bahrain looks forward to reopening of King Fahd Causeway to ease post-Covid economic recovery

Bahrain expects a quick return to pre-pandemic levels in tourist arrivals when the Gulf island nation reopens the King Fahd Causeway which links it to Saudi Arabia. The causeway was scheduled to open on 31 March, but that has now been delayed to 17 May. The causeway has been closed since 8 March of last year. 
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Russia tripled its gold exports in 2020

Russia tripled its gold exports in 2020

Russia tripled its gold exports in 2020 after the coronavirus pandemic had made oil and gas revenues plummet, the Russian newspaper Izvestia writes. However this year is not expected to be so good for gold producers. According to economists at Morgan Stanley weak inflation, coupled with an improving economic outlook, will continue to weigh on gold prices.
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Bahraini foreign minister visits Brussels

Bahraini foreign minister visits Brussels

The Bahraini Minister of Foreign Affairs, Dr. Abdullatif bin Rashid Al-Zayani, met with the European Union's High Representative for Foreign Affairs and Security Policy, Josep Borrell, and the President of the European Council, Charles Michel, during a visit to Brussels. 
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European Commission proposes new "ambitious" agenda for the Mediterranean

European Commission proposes new "ambitious" agenda for the Mediterranean

The European Commission has published its long-awaited strategy for taking forward its relationship with its southern neighbours. It proposes "a new, ambitious and innovative Agenda for the Mediterranean, drawing for the first time on the full EU toolbox and the ground-breaking opportunities of the twin green and digital transitions, in order to relaunch our cooperation and realise the untapped potential of our shared region".