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Xi-Orban sit-down: What China and Hungary's leaders agreed on

Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban held talks in Budapest on Thursday as part of the Chinese leader’s final stop on his five-day European tour. What was on the agenda?

🔸 The negotiations saw the sides sign 18 new agreements to deepen bilateral economic and cultural cooperation, including accords on nuclear energy, investments and tourism.

🔸 Xi told reporters after the talks that Beijing and Budapest had agreed to elevate bilateral relations to “an all-weather comprehensive strategic partnership for the new era.”

🔸 “This year marks the 75th anniversary of the establishment of diplomatic ties between China and Hungary, ushering in a new and important opportunity for the development of bilateral relationship," the Chinese leader pointed out.

🔸 Xi added that during the Thursday talks, Orban, in particular, agreed that China’s Belt and Road Initiative “is highly consistent with Hungary’s strategy of opening to the east.”

🔸 The Chinese leader also voiced hope that Hungary, which is to hold the rotating EU presidency in the second half of the year, will play an active role in promoting “the healthy and stable development of China-EU relations.”

🔸 In a similar vein, Orban, who touted China as “one of the pillars of the new world order," stressed that Hungarian-Chinese trade had quadrupled in the past 20 years, transforming bilateral relations into "a strategic partnership."

🔸 The prime minister recalled that 20 years ago, Chinese investment was so small in Hungary that a "magnifying glass" was needed to find it. Last year, however, three-quarters of all foreign investment in Hungary was by China, he said, adding that it helped provide jobs for tens of thousands of Hungarians.

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Left-wing activists are trying to storm the Tesla plant near Berlin, Germany, to oppose the expansion of the enterprise.

The police are afraid of sabotage, as the protesters are supported by the Vulkan group, which previously claimed responsibility for setting fire to a transformer booth.

The protestors are outraged with the fact that the planned expansion of Tesla's production involves cutting down more than 100 hectares of forest.

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Key takeaways from PM candidate Mikhail Mishustin’s State Duma speech:

▪️Vladimir Putin’s address to the Federal Assembly is cornerstone for the government’s work in the next six years;

▪️Robust economy, technological sovereignty and diffusion of innovations will be the fundaments of national development;

▪️Russia’s goal is to enter the top-4 largest economies in the world by Purchasing Power Parity;

▪️Russia has no intentions to create obstacles for foreign entrepreneurs willing to work in Russia or for Russian companies willing to work abroad;

▪️Maternity capital program proved to be effective; it will be prolonged until the end of decade. The government will not limit itself to funds in family support domain, it will exercise broader approach;

▪️The complete modernization of preliminary healthcare is planned and the program of modernization of communal services worth 4,5 trillion rubles ($48 bln) is ready;

▪️New wage model for state employees must be established – doctors, teachers and medical personnel must have lucrative salaries;

▪️The government will continue to attract investments in the region; infrastructural credits will grow by 250 billion rubles annually;

▪️Support of participants of special military operation and their families is a top priority for the government.

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A large-scale farmers' protest is taking place in Poland's capital Warsaw.

The organizers say that 200,000 people will take part in the rally. The protesters are gathering at the Castle Square in the city center, from where they will head to the Sejm building. The protest will last until late evening.

Protesting farmers demand the abolition of the "Green Course" and a ban on the import of agricultural products from Ukraine.

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About 25-30,000 protesters have gathered in the center of Warsaw, Polish media reports.

The protesters are marching in a column towards the Sejm and carry a four-meter-tall figure of death with a scythe on a car trailer, symbolizing the death of Polish agriculture.

They are demanding a national referendum on Poland's accession to the Green Deal and are collecting signatures to demand it. They also distribute apples to everyone, assuring them that they are grown in environmentally friendly conditions.

“Harvest or partition, you still have a choice”, “You got developed Poland, and you left it destroyed. Another partition of Poland”, “Let Brussels eat the worms, but we want chops and potatoes”, “Destroy the European commune" are some of the slogans on the posters.

Traffic in the city center is blocked.

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❗️Russia's State Duma approved Mikhail Mishustin to continue as prime minister with 375 votes in favor. Subscribe to @SputnikInt
Technocrat, crisis manager: who is Russian PM Mikhail Mishustin?

▪️Mikhail Mishustin became prime minister in January 2020.

▪️His tenure has been characterized by effective crisis management. Hailed as a technocrat with a penchant for support of technological solutions to administrative problems, Mishustin took up his post at the start of the economic crisis associated with Covid. In February 2022, he was tasked with stabilizing the economy in the face of the West’s economic ‘total war’ against Russia.

▪️Mishustin’s government proved Russia’s ability to weather the storm, with the economy not only returning to growth, but reorienting supply chains and economic links with the BRICS bloc, away from the West.

▪️Mishustin was born on March 3, 1966 in Moscow.

▪️He graduated from the Moscow Machine Tool Institute with a degree in computer-aided design systems in 1989, and completed post-graduate studies in 1992. He continued his education well into his working life, earning a doctorate of economics in 2010.

▪️From 1992-1995, he worked as director of the test lab at the International Computer Club – an institute seeking to attract advanced Western IT to the post-Soviet space. From 1995-1996, he became the ICC’s deputy director.

▪️In the crisis period of August 1998, when Russia suffered a default, he became deputy head of the Russian Tax Service. In March 1999, he became deputy minister for Taxes, with his job including improving what at the time was a catastrophic rate of non-payment of taxes among Russia’s business elites.

▪️In 2004, he became head of the Real Estate Cadastre Agency.

▪️From 2007-2008, he headed the Federal Agency for the Management of Special Economic Zones.

▪️Between 2008-2010, he served as president of UFG – an asset management firm.

▪️In April 2010, he returned to the Federal Tax Service, this time becoming its head. He would hold this post until becoming prime minister.

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❗️The Israeli military cabinet has approved the expansion of the army's operation in Rafah, Kan radio station reports

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Israel may face one of its largest budget deficits as the Gaza War bites

Israel's 12-month trailing budget deficit has increased to 132.2 billion shekels ($35.4 billion), or 7% of the country’s gross domestic product (GDP), as of the end of April, the Israeli Finance Ministry has revealed.

The ministry’s data published on Thursday showed that the current fiscal shortfall is higher than the government’s target of 6.6% for the full calendar year of 2024.

The increase is mainly attributed to the Jewish state’s heightened military expenditures on the ongoing Israeli-Palestinian conflict that escalated in October 2023.

With the Gaza War’s financial toll on the rise, Israel reportedly is on track to run one of its widest budget deficits this century. The state’s central bank previously estimated the total cost of the conflict would stand at a whopping 255 billion shekels ($68.5 billion) during 2023-2025.

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