Rise of the ‘Renmimbi’ to the International Stage: A Win-Win Game for the Emerging Multi-Polar Global Economy

Empirical studies show that the international monetary system is already tripolar. The Chinese currency, the renmimbi, has increasingly become a reference currency, as one which exhibits a high degree of co-movements with other currencies. In the wake of the 2008 financial crisis, the renmimbi has accelerated its standing as the East-Asia exchange rate reference currency […]

Over 107,000 displaced as insecurity escalates in Sudan’s El-Fasher

More than 107,000 Sudanese civilians have been displaced from El-Fasher and surrounding villages in North Darfur amid worsening insecurity, the International Organization for Migration (IOM) said on Sunday, December 21. According to the UN agency, an estimated 107,294 people, representing about 24,221 families, fled the area between Oct. 26 and Dec. 8, after the paramilitary […]

Sudan freezes agreement to host Russian military base

Sudan has frozen a military agreement with Russia which includes the establishment of a Russian military base on the Red Sea coast of the African country, a top Sudanese official told Turkish news agency Anadolu. The official who asked not to be named because not allowed to talk on the matter, told the Turkish news […]