World News: 16 August 2022

Saudi PIF buys shares in Alphabet, Zoom and Microsoft in U.S. shopping spree
The PIF acquired 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom and 1.8 million shares in Microsoft, a US Securities and Exchange Commission filing showed.

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Blasts rock Russian base in Crimea, Ukraine exults
In another incident on Tuesday, plumes of smoke were seen at a Russian military airbase near the settlement of Hvardiyske in central Crimea, Russia's Kommersant newspaper reported.

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Chinese military ship docks at Sri Lanka port despite Indian concern
India had opposed the docking of the Yuan Wang 5, which analysts describe as a high-tech ship for tracking objects in space, as it fears China could use the port, near the main Asia-Europe shipping route, as a military base. Sri Lanka, which needs the support of both India and China as it struggles with its worst economic crisis in decades, initially granted the ship permission for a five-day replenishment stay in Hambantota, from August11. It later asked China to delay the vessel’s arrival, citing the need for more consultations.

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UN selects former Grenada minister as climate chief
Stiell will take over as Executive Secretary of the United Nations Framework Convention on Climate Change with under three months before the latest round of climate negotiations at COP27 in Egypt. He will replace Mexican diplomat Patricia Espinosa.

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Britain launches trade system for developing countries
In June, Prime Minister Boris Johnson said he wanted to start a new trade system to reduce costs and simplify rules for 65 developing countries to replace the EU's Generalised System of Preferences, which applies import duties at reduced rates.

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Kenya braces for legal battle after Ruto declared president-elect
The veteran opposition leader, making his fifth bid for the presidency, is under local and international pressure to seek peaceful legal remedy for any concerns over the election outcome.

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