عربي English Türkçe اردو فارسى
Logo
Latest News
World

Trump on Track to Meet Xi in South Korea, Bessent Says

US Secretary of Treasury Scott Bessent speaks at the Federal Reserve Board's Community Bank Conference at the Federal Reserve Board headquarters in Washington, DC, on October 9, 2025. (AFP)
US Secretary of Treasury Scott Bessent speaks at the Federal Reserve Board's Community Bank Conference at the Federal Reserve Board headquarters in Washington, DC, on October 9, 2025. (AFP)
TT
TT

Trump on Track to Meet Xi in South Korea, Bessent Says

US Secretary of Treasury Scott Bessent speaks at the Federal Reserve Board's Community Bank Conference at the Federal Reserve Board headquarters in Washington, DC, on October 9, 2025. (AFP)
US Secretary of Treasury Scott Bessent speaks at the Federal Reserve Board's Community Bank Conference at the Federal Reserve Board headquarters in Washington, DC, on October 9, 2025. (AFP)

US President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October as the two sides try to de-escalate tensions over tariff threats and export controls, US Treasury Secretary Scott Bessent said on Monday.

The latest rupture followed China's announcement on Thursday that it would dramatically expand its rare earths export controls. That drew a sharp countermeasure from Trump on Friday that sent markets and relations between the world's two largest economies into a spiral.

Bessent said there were substantial communications between the two sides over the weekend and more meetings were expected.

"We have substantially de-escalated," Bessent said in an interview with Fox Business Network.

"President Trump said that the tariffs would not go into effect until November 1. He will be meeting with Party Chair Xi in Korea. I believe that meeting will still be on."

Trump and Xi had planned to meet during the summit of the Asia-Pacific Economic Cooperation forum hosted by South Korea in late October.

The softer tone soothed a jittery Wall Street, sparked a strong rebound in US stocks at the start of trading in New York on Monday, with the tech-heavy Nasdaq Composite index up nearly 2% and other major indexes up about 1%.

Trump's threat on Friday sparked a big sell-off at a time when investors and top policymakers were already growing anxious about a frothy stock market fueled by an investment boom in artificial intelligence that some officials fear could hurt future employment.

Bessent said there would be US-China staff-level meetings this week in Washington on the sidelines of the World Bank and International Monetary Fund annual gatherings.

"The 100% tariff does not have to happen," Bessent said. "The relationship, despite this announcement last week, is good. Lines of communication have reopened, so we'll see where it goes."

US PUSHBACK AGGRESSIVE

Still, Bessent called the China move provocative and said the US pushed back aggressively.

The United States has been in contact with allies and expects support from the Europeans, India and democracies in Asia, he said.

"China is a command and control economy. They are neither going to command nor control us," Bessent said.

China blamed the United States for the rising trade tensions on Sunday and called Trump's latest threatened tariffs of 100% on Chinese goods hypocritical. It defended its curbs on exports of rare earth elements and equipment. China dominates the market for such elements, which are essential to tech manufacturing.

Under China's new regulations, foreign companies producing some of the rare earths and related magnets on the list will now also need a Chinese export license if the final product contains or is made with Chinese equipment or material. This applies even if the transaction includes no Chinese companies.

The United States would reject licensing requirements from China, Bessent said in the interview on "Mornings with Maria."

Trump's unexpected broadside on Friday shook global financial markets, sending the benchmark S&P 500 Index sliding by more than 2%, its biggest one-day drop since April, when a steady barrage of tariff announcements by Trump stoked market volatility.

Most Viewed

 
 
World

Has Iran Built an Espionage Network in Israel?

People walk in the rain during stormy weather in the port of Tel Aviv, Israel, 27 December 2025. EPA/ABIR SULTAN
People walk in the rain during stormy weather in the port of Tel Aviv, Israel, 27 December 2025. EPA/ABIR SULTAN
TT
TT

Has Iran Built an Espionage Network in Israel?

People walk in the rain during stormy weather in the port of Tel Aviv, Israel, 27 December 2025. EPA/ABIR SULTAN
People walk in the rain during stormy weather in the port of Tel Aviv, Israel, 27 December 2025. EPA/ABIR SULTAN

For the past year, Israel has arrested dozens of Israeli citizens on suspicion of spying for Iran, Yedioth Ahronoth has reported on.

The Hebrew newspaper revealed on Saturday that some of the recruits were asked to photograph sensitive facilities and to collect information including documentation of Israeli army bases, strategic sites and homes linked to senior Israeli officials.

The newspaper said that since September 2024, Israeli authorities have uncovered 35 serious Iranian espionage cases. In some, individuals acted alone; in others, they were part of organized cells, with a mission to sow chaos, burn vehicles and carry out failed assassination plots.

It said the youngest of their recruits is a 13-year-old boy from Tel Aviv. Others had served in the reserves and regular forces.

They leaked sensitive information, including documentation of sensitive military bases, strategic sites and homes linked to senior Israeli officials.

The recruits included Mordechai “Moti” Maman, 72, of Ashkelon. He entered Iran twice and discussed with the agents the possibility of carrying out terror attacks in Israel.

The Iranian handlers discussed with him the option of assassinating senior figures such as Prime Minister Benjamin Netanyahu, then-Defense Minister Yoav Gallant and then-Shin Bet chief Ronen Bar.

After Maman told them the level of security surrounding senior officials made such attacks impractical, the sides discussed alternative terror and espionage activities, including possible attacks on former Prime Minister Naftali Bennett or mayors. Maman was arrested in September 2024.

In October 2024, four cells were arrested, including a couple who had been in contact with Iranian agents since 2021 and groups of five to eight people on suspicion of conducting espionage for Iran.

One of the cases involved seven Israelis who immigrated from Azerbaijan, including a father and son, suspected of maintaining ties for two years with operatives from Iran.

As part of that relationship, the suspects photographed military bases that later became targets in Iran’s ballistic missile attack last year. Some of the group were caught surveilling a senior Israeli official and his son, allegedly as part of an assassination plan.

Authorities also uncovered another case in which seven people aged 19 to 23 from the Jerusalem neighborhood of Beit Safafa were arrested on suspicion of conducting espionage for Iran for several months. Their main assignment was to assassinate an Israeli nuclear scientist and a mayor.

In early 2025, another espionage case was uncovered, and an indictment was filed against an Israeli from Petah Tikva, on charges including contact with a foreign agent and passing information to the enemy.

According to the indictment, the recruit photographed the neighborhood of National Unity party leader Benny Gantz and a power station in Tel Aviv.

His handler contacted him via Telegram and offered payment through a digital wallet in exchange for carrying out security-related tasks. These included documenting security facilities, spraying political graffiti, arson attacks on vehicles and other acts.

During 2025, more than nine indictments have been filed against cells and individuals accused of spying for Iran, most of them Jews the newspaper said.
Investigations revealed that most of the spies had carried out various missions in exchange for payment.

The majority of the recruits had not travelled to Iran to complete their recruitment, but communicated with Iranians through social networks or during their presence in other countries.

World

Polls Open for Myanmar's 1st Election Since Military Seized Power

Myanmar voters line up to cast ballots during the first phase of general election at a polling station in Naypyitaw, the capital city of Myanmar, 28 December 2025. EPA/RUNGROJ YONGRIT
Myanmar voters line up to cast ballots during the first phase of general election at a polling station in Naypyitaw, the capital city of Myanmar, 28 December 2025. EPA/RUNGROJ YONGRIT
TT
TT

Polls Open for Myanmar's 1st Election Since Military Seized Power

Myanmar voters line up to cast ballots during the first phase of general election at a polling station in Naypyitaw, the capital city of Myanmar, 28 December 2025. EPA/RUNGROJ YONGRIT
Myanmar voters line up to cast ballots during the first phase of general election at a polling station in Naypyitaw, the capital city of Myanmar, 28 December 2025. EPA/RUNGROJ YONGRIT

Voters went to the polls Sunday for the initial phase of Myanmar ’s first general election in five years, held under the supervision of its military government while a civil war rages throughout much of the country.

Final results will not be known until after two more rounds of voting are completed later in January. It is widely expected that Min Aung Hlaing, the general who has ruled the country with an iron hand since an army takeover in 2021, will then assume the presidency.

The military government has presented the vote as a return to electoral democracy, but its bid for legitimacy is marred by bans on formerly popular opposition parties and reports that soldiers have used threats to force voters to participate.

While more than 4,800 candidates from 57 parties are competing for seats in national and regional legislatures, only six are competing nationwide with the possibility to gain political clout in Parliament. The well-organized and funded Union Solidarity and Development Party, with its support from the military, is by far the strongest contender.

Voting is taking place in three phases, with Sunday’s first round being held in 102 of Myanmar’s 330 townships. The second phase will take place Jan. 11, and the third on Jan. 25. Final results are expected to be announced by February.

Critics call the election a sham to keep the army in power Critics charge that the election is designed to add a facade of legitimacy to military rule that began when the military ousted the elected government of Aung San Suu Kyi in February 2021. It blocked her National League for Democracy party from serving a second term despite winning a landslide victory in the 2020 election.

They argue that the results will lack legitimacy due to the exclusion of major parties and limits on freedom of speech and an atmosphere of repression.

The expected victory of the military-backed Union Solidarity and Development Party makes the nominal transition to civilian rule a chimera, say opponents of military rule and independent analysts.

“An election organized by a junta that continues to bomb civilians, jail political leaders, and criminalize all forms of dissent is not an election — it is a theater of the absurd performed at gunpoint,” Tom Andrews, the UN-appointed human rights expert for Myanmar, posted on X.

The United Nations also said Sunday that Myanmar needs free elections.

"It is critical that the future of Myanmar is determined through a free, fair, inclusive and credible process that reflects the will of its people," said the United Nations in Myanmar, adding the UN "stands in solidarity with the people of Myanmar and their democratic aspirations.”

Holding the election may provide an excuse for neighbors like China, India and Thailand to continue their support, claiming the election promotes stability.

Western nations have maintained sanctions against Myanmar’s ruling generals due to their anti-democratic actions and the brutal war against their opponents.

Suu Kyi, Myanmar’s 80-year-old former leader, and her party are not participating in the polls. She is serving a 27-year prison term on charges widely viewed as spurious and politically motivated. Her party, the National League for Democracy, was dissolved in 2023 after refusing to register under new military rules.

Other parties also refused to register or declined to run under conditions they deem unfair, and opposition groups have called for a voter boycott.

World

Report: North Korean Money Launderer Transfers Funds to IRGC

Revolutionary Guard commanders during a meeting with Iranian Supreme leader (Khamenei’s website)
Revolutionary Guard commanders during a meeting with Iranian Supreme leader (Khamenei’s website)
TT
TT

Report: North Korean Money Launderer Transfers Funds to IRGC

Revolutionary Guard commanders during a meeting with Iranian Supreme leader (Khamenei’s website)
Revolutionary Guard commanders during a meeting with Iranian Supreme leader (Khamenei’s website)

A media report published in South Korea has revealed traces of financial transactions between Iran’s regime and North Korea, both US-sanctioned states, signaling the two countries’ increasing use of non-traditional financial tools to circumvent restrictions on their banking systems.

According to blockchain tracking sources, transactions between both countries were carried out through the money-laundering network of a North Korean operative using cryptocurrencies, with part of the funds transferred to entities affiliated with the Iranian Revolutionary Guard Corps (IRGC), the South Korean Chosun Ilbo newspaper said in an article published last Friday.

It said investigations by TRM Labs show that dollars were transferred this year from a cryptocurrency wallet belonging to Sim Hyon-sop, a North Korean money launderer, to a wallet linked to the Revolutionary Guard.

According to the newspaper, Iran’s regime may have exchanged cryptocurrency to evade sanctions, convert funds into US dollars, or even pay for oil.

It said Iran and North Korea, both under severe US sanctions, have increasingly turned in recent years to opaque financial tools, mainly cryptocurrencies.

Analysts told the newspaper that these transactions are a sign of overlapping financial networks between the two countries aimed at circumventing the sanctions system.

Sim Hyon-sop, who is wanted by the FBI on charges of money laundering and sanctions evasion, has played a key role in this network.

According to the newspaper, Sim saw his bounty rise from $5 million to $7 million (approximately 10 billion Korean won) in July.

Born in Pyongyang in 1983, he is affiliated with North Korea’s Foreign Trade Bank, which has been on US sanctions lists.

He used aliases such as “Sim Ali” and “Sim Hajim” and posed as a representative of Kwangson Bank.

Chosun Ilbo said Sim’s laundering process was meticulous: North Korean “IT workers” sent him cryptocurrency stolen through hacking or received as wages, routing it through multiple digital wallets to obscure traces.

Sim then transferred the funds to pre-selected brokers in an Arab country or China, who converted them into US dollars.

Also, foreign currency earned by North Korean laborers in Russia, China, and Africa flowed into Sim’s accounts via similar laundering routes.

The newspaper showed that part of the earnings were not sent directly to North Korea but were instead spent on purchasing goods, equipment, and even weapons needed by Kim Jong Un’s regime.

Among the examples cited is the use of a company in Zimbabwe to purchase a $300,000 helicopter in Russia and deliver it to North Korea.

Additionally, the newspaper said about $800,000 were spent to procure raw materials for producing counterfeit cigarettes, one of Pyongyang’s main sources of income.

The Chosun Ilbo report stated that US banks, including Citibank, JPMorgan, and Wells Fargo, failed to detect Sim’s money-laundering activities. It said at least 310 transactions totaling $74 million were processed through the US financial system.

Referring to data from the Financial Action Task Force (FATF) and Chainalysis, the report said dozens of North Korean “shadow bankers” are active outside the country. Over several years, they have laundered more than $6 billion in stolen cryptocurrency for the regime.

Chosun Ilbo said that although the US federal court had issued an arrest warrant for Sim in March 2023, his capture remains nearly impossible.