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South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi will meet in the South Korean city of Andong next week, extending a highly personalized diplomatic exchange at a time of shifting dynamics between the US and China, and mounting uncertainty over regional security.
Takaichi will visit Lee’s hometown region of Andong in North Gyeongsang Province from May 19-20 at Lee’s invitation, according to a written statement from the presidential office. The visit comes after Lee traveled to Nara, Takaichi’s political home turf, earlier this year, marking what Seoul described as the first exchange of visits between the hometown regions of South Korean and Japanese leaders.
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Seated beside the Chinese leader in an ornate meeting room with gold carpet, Trump said he had secured “fantastic” trade deals for both countries and made progress in his effort to enlist Xi’s help in reopening the Strait of Hormuz – though he gave no details.
“This has been an incredible visit,” — he said. “I think a lot of good has come of it.”
#BRICS
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We made a lot of great trade deals, including over 200 planes from Boeing with a promise of 750 planes, which will be by far the largest order ever if they do a good job with the 200, which I'm sure they will.
And that's General Electric also, the engines. So they're buying General Electric.
So it's approximately 400–450 engines and 200 planes and a promise of up to 750 if they do a good job.
#BRICS
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Group of Seven finance chiefs are set to discuss the selloff in government bonds that’s sending yields on some benchmark securities to their highest levels in decades, with at least one member viewing the move as temporary.
Japanese Finance Minister Satsuki Katayama said Friday the G-7 are expected to talk about developments in bond markets at their May 18-19 gathering in Paris. She spoke a day after her nation’s 30-year government bond yields climbed to the highest since that tenor’s 1999 debut, while rates on 20- and 40-year debt also hit the highest in decades.
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Russian leader Vladimir Putin will visit Beijing on May 20, the South China Morning Post reported, which would be days after President Xi Jinping’s summit in the Chinese capital with his US counterpart Donald Trump. The one-day trip is seen as a routine part of the Kremlin’s relationship with Beijing.
#BRICS
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Turkey has proposed building a $1.2 billion (€1 billion) fuel pipeline for military use to help meet the energy needs of allies on NATO’s eastern European flank.
Following a push by the alliance to expand its military pipeline network, Ankara is proposing that the new link be built from Turkey to Romania via Bulgaria. Turkey’s pitch to NATO comes as it prepares to host the alliance’s summit in July.
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On Friday, OpenAI launched a new set of personal finance tools in preview for ChatGPT Pro subscribers in the U.S., letting them connect their accounts and ask questions ranging from spending analysis to future financial planning.
OpenAI users can access the tool by selecting “Get started” in the “Finances” option in the sidebar, or typing “@ Finances, connect my accounts” in a ChatGPT conversation. Once users do that, the chatbot will guide them about linking accounts through Plaid. The company said it plans to support Intuit soon, which would enable analysis such as the impact of a stock sale on taxes or the odds of a credit card approval.
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Venezuela’s national oil company has begun circulating a long-awaited proposed contract to energy companies interested in working in the Latin American nation, a key step toward reviving its crude production.
The document lays out conditions for Petróleos de Venezuela SA, or PDVSA, to work with companies to restart oil wells, drill new ones and market production. The state-owned company began sharing the model contract late last week with oil executives, advisers and others in the industry.
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Canada and Alberta have reached a deal on carbon pricing that would pave the way for construction of a new oil pipeline starting as early as 2027, while scaling back the scope of a carbon capture project that Ottawa has tied to the deal.
Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the agreement on Friday, which builds on the memorandum of understanding signed in November that outlined conditions for federal support of a crude pipeline to the west coast to serve Asian markets.
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Elon Musk announced on X that the training run of his latest Grok V9 (1.5T parameters) performed “very well,” and these results have not yet been incorporated into the supplementary training data for Cursor.
The current base model version under internal development is V9, with approximately 1.5 trillion parameters, featuring significant improvements over V8 in data cleaning, training methods, and model scale, and optimized for the Blackwell architecture to enhance computational efficiency.
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China has renewed export licenses for 425 US beef plants, making way for a full resumption of trade for the protein between the two countries, according to the US Meat Export Federation.
The Asian country has extended five-year registrations to those facilities, whose licenses had lapsed last year amid trade tensions between the US and China, the trade group said. An additional 77 registrations were added to China’s Food Import Food Establishment system.
#BRICS
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Donald Trump spoke by phone with Japanese Prime Minister Sanae Takaichi and they affirmed the strength of the two countries’ alliance after the US President’s visit to Beijing, according to the Japanese government.
The two leaders talked for about 15 minutes, and agreed to continue communicating on key matters including developments in the Indo-Pacific region, according to a statement released by Japan’s Ministry of Foreign Affairs.
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So far over 1.2M patients and 450K teleconsultations have been served.
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Brazil's federal police carried out search and seizure warrants against former Rio de Janeiro Governor Claudio Castro and ordered privately owned refinery Refit to halt operations in a tax evasion investigation, a Supreme Court decision showed.
The court ordered Refit's owner, businessman Ricardo Magro, who lives in the United States, to be arrested on pre-trial detention. As the country's tax authority has carried out investigations into financial crimes over the past year, Brazilian President Luiz Inacio Lula da Silva has publicly called on U.S. President Donald Trump to arrest Magro.
In the decision, Justice Alexandre de Moraes ordered Magro to be put on Interpol's red notice list, alerting foreign law enforcement agencies to arrest him. The ruling also froze about 52 billion reais ($10.3 billion) in assets, most belonging to Refit which is one of Brazil's largest chronic tax debtors, with tens of billions of reais owed to federal and state authorities.
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"The Senate Banking Committee is putting in the work as it moves the Clarity Act forward… incredible leadership! Millions of Americans are already in this market. Ripple stands behind this bill because they deserve the same rules and protections as every other asset class. If the largest economy in the world is going to lead on crypto — and it must — this is the moment. Let's get it done!" — Brad Garlinghouse wrote on X.
"With legal clouds lifted and institutional capital proving remarkably sticky, the XRP Ledger is transforming into a compliance-grade tokenization and settlement layer, speaking the precise language that institutional capital does," — Sirkia added.
#Stellar
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“The two sides will use the Trade Council as a forum to discuss issues such as tariff reductions on specific products,” — China’s Ministry of Commerce said.
The world’s two largest economies also made progress on agricultural trade and aircraft, the statement added:
“The two sides have reached arrangements on China’s purchase of aircraft from the US and the US ensuring the supply of aircraft engines and components to China, and agreed to continue advancing cooperation in related areas,” — the statement said.
#BRICS
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