A strong earthquake with a magnitude of 6.8 shook the Tingri region in Tibet on Tuesday, January 7, 2025, causing at least 95 deaths and 130 injuries. The epicenter was 80 km north of Mount Everest at a depth of 10 km. The tremors were also felt in Nepal, Bhutan and India. Over 1,500 rescue workers were dispatched to search for survivors and support the population. More than 1,000 houses were damaged. In Nepal and other neighboring regions, there have been no reports of deaths or major damage so far.
Canadian Prime Minister Justin Trudeau announced his resignation on January 6, 2025 after nine years in office. This was due to internal party conflicts and poor poll ratings for the Liberal Party ahead of the upcoming elections. Trudeau will remain Prime Minister and party leader for the time being until a successor is appointed. Parliament will be suspended until March 24, making an election possible in May at the earliest.Trudeau's popularity has declined in recent years due to the rising cost of living. His resignation follows the resignation of Finance Minister Chrystia Freeland, who accused him of playing political games. The opposition under Pierre Poilievre is pushing for new elections, while the Liberals face an uncertain future.
On January 7, France commemorates the victims of the attack on the satirical magazine *Charlie Hebdo*, which claimed the lives of 12 people 10 years ago. Two armed attackers, linked to Al-Qaeda, stormed the offices of *Charlie Hebdo* and killed staff because the magazine had published cartoons of the Prophet Mohammed. The attack sparked worldwide solidarity under the slogan “Je Suis Charlie” and sparked a debate about freedom of the press and freedom of religion. President Macron and Mayor Hidalgo led the commemorations at the sites of the attack in Paris. The events once again draw attention to the ongoing challenge to press freedom in France.
In South Korea, a group of young conservative men are supporting President Yoon Suk Yeol, who is battling impeachment. They are mobilized by YouTube videos of influencers spreading unsubstantiated allegations of electoral fraud. This movement reflects a broader dissatisfaction with the former left-wing government.
Venezuelan opposition leader Edmundo Gonzalez, who sees himself as the winner of July's presidential election and is recognized as president-elect by several countries, recently met with US President Joe Biden and also spoke at length with Donald Trump's national security adviser Mike Waltz. Biden emphasized that the Venezuelan people deserve a peaceful transition of power and that Gonzalez should take the oath of office on January 10, when President Nicolás Maduro begins his third term. Biden criticized the Venezuelan government for supporting a “violent project” to circumvent democracy.
Damascus airport has resumed international flight operations following the fall of President Bashar al-Assad and a brief interruption. Two flights to the United Arab Emirates have already taken place and a flight from Qatar is expected.
Robert Habeck, the Greens' lead candidate, has sharply criticized CSU leader Markus Söder. He accused him of making a serious political mistake by ruling out the black-green coalition and attempting to adopt right-wing positions. Habeck emphasized that the democratic centrist parties must work together to protect the republic from a shift to the right. He condemned Söder's stance as “muzzling” and pointed to the failed coalition talks in Austria as a warning. At the same time, a projection of Habeck's portrait on Munich's Siegestor caused a stir as it was carried out without permission.
In Pakistan, over 3,000 Afghans who have been granted admission to Germany are now being deported back to Afghanistan due to long visa processing times. Pakistani security forces have raided guest houses where these Afghans were waiting for their visas. The German government is concerned and is working with the authorities to facilitate their return to Pakistan. The Federal Ministry of the Interior emphasizes that security checks have priority and defends the long processing time.
On January 7, 2025, the Israeli Air Force carried out an attack on a group of gunmen in the West Bank following an attack on a bus that left three Israelis dead. The Israeli army announced that it would intensify its fight against terror. In Gaza, an aid convoy of the World Food Program was hit by Israeli gunfire, which was strongly condemned by the UN. At the same time, there was further fighting in which six people were killed in Gaza. The USA has temporarily eased sanctions against Syria in order to facilitate humanitarian aid.
100 leading companies in Germany are feeling the economic problems first hand. Their turnover fell by 4% in the first nine months of 2024 and operating profit by an average of 19%. Worse still, companies have cut more than 30,000 jobs in the same period.
The United Arab Emirates (UAE) is in talks with the US and Israel over a temporary post-war administration of Gaza until a reformed Palestinian Authority (PA) can take over. The UAE emphasizes the need for PA reform to govern Gaza, the West Bank and East Jerusalem. Israel, however, is skeptical of PA leadership in Gaza. In addition, the UAE is proposing the use of private military companies for peacekeeping, which raises concerns.
Nvidia presented new products at CES 2025, including AI technology for cheaper robot and vehicle training, the Cosmos models for creating synthetic training data and powerful gaming chips from the RTX-50 series. The “Project DIGITS” desktop for developers was also announced. Toyota will use Nvidia's Orin chips for driver assistance systems. Nvidia expects revenues of USD 5 billion from the automotive industry in 2026. The company has a market capitalization of USD 3.66 trillion.
In December 2024, several central banks around the world carried out the largest interest rate cuts since the COVID crisis in 2020. Five of the nine central banks that held meetings cut their interest rates, including the US Fed, the European Central Bank and the Swiss and Canadian central banks. These rate cuts made the 2024 rate cut cycle the largest easing since 2009 at 825 basis points (bps). In emerging markets, 14 out of 18 central banks cut rates, with Turkey standing out with a 250 bps cut.
In 2024, foreign investors withdrew from Asian equity markets, mainly due to concerns about US President-elect Donald Trump's trade policy. Sales totaled USD 15.8 billion, particularly in countries such as Taiwan, South Korea, India and Thailand. This followed a surge in sales last quarter after investors were initially attracted by an easing of US interest rates and regional growth. Trump planned high tariffs on imports, raising concerns that Asian economies could be negatively affected, particularly through close ties with China.
Following the Russian invasion in 2022, Ukrainian companies are expanding their markets in Central and Eastern Europe and increasingly targeting local customers. In Poland, where the Ukrainian population is growing, one in ten new businesses opened by Ukrainians in 2024. Companies such as Lviv Croissants and Piana Vyshnia are now also expanding westwards into EU markets to reach wider customers as uncertainty in Ukraine continues.
Nicaragua has just completely scrapped the US dollar in its payment transactions.
Alexander Van der Bellen officially hands over the government formation mandate to Herbert Kickl.
Donald Trump, the President-elect of the United States, once again called on Hamas to release the Israeli hostages. When asked what he meant by “all hell will break loose”, he said: “Exactly what I said: If they are not released by the time I take office on January 20, all hell will break loose.”
Hamas has sent a list of 34 hostages who could be released as part of a possible ceasefire with Israel. The list includes: - 10 women - 11 elderly men (aged between 50 and 85) - Young children previously reported dead in Israeli airstrikes. Negotiations: Ceasefire talks resumed over the weekend in Doha, Qatar, but so far with no significant progress. A Hamas official stated that an agreement to release Israeli hostages depends on a complete Israeli withdrawal from Gaza and a permanent ceasefire.
US President-elect Donald Trump will reportedly prepare a major pardon drive for more than 1,000 people convicted in connection with the attack on the US Capitol on January 6, 2021.
French President Emmanuel Macron has accused entrepreneur Elon Musk of actively interfering in European affairs. “Who would have thought ten years ago that the owner of one of the largest social networks in the world would support a new international reactionary movement and interfere directly in elections?” said Macron in a sharp criticism.
The Israeli military has crossed into Syrian territory outside the buffer zone, sparking protests from local residents. They said Israeli forces had demolished houses in some areas and prevented farmers from going to their fields. Israeli troops reportedly opened fire at least twice on protesters who approached them. Residents of Quneitra said they were frustrated by both the Israeli advances and the lack of action by the new Syrian government and the international community.
Billionaire Elon Musk has warned of a possible “de facto bankruptcy” of the USA if the rising national debt is not controlled. The country's gross debt exceeded the 36% mark in November
Keir Starmer explained that support from American officials for the AfD and Nigel Farage would be seen as a “declaration of war on Europe”. The Prime Minister emphasized that such actions undermine the unity of the EU and pose a threat to democratic values on the continent.
Inflation rate: rose again in December. Consumer prices increased surprisingly significantly by 2.6% compared to the same month of the previous year - in contrast, inflation fell significantly in 2024 as a whole (from 5.9% to 2.2%) (STAT)
Solaris: Berlin fintech with dramatic devaluation. From a billion-euro valuation down to a low three-digit million amount - the new financing round of the former unicorn leads to a dramatic devaluation and a completely new ownership structure. Major customers such as the Stuttgart Stock Exchange and ADAC come to the aid of CEO Carsten Höltkemeyer, as reported by manager-magazin. (MM)
- DAX: AI euphoria on US stock markets also drives up German benchmark index (BOER)
- Insolvencies: Number reaches level of the financial crisis (SPG)
- Bundesbank boss Nagel: “The beast of inflation has been tamed” (FOC)
- Allianz boss: Wants to abolish continued payment of wages on the first day of illness (NTV)
- Austria: Will soon be governed by right-wing extremists (HB)
- Oil prices: At three-month high (TAG)
- Trump advisor: Examining tariffs on “critical goods” from all countries (SUED)
- Credit Suisse: New evidence of Nazi accounts discovered (RT)
- Bitcoin: Rises above $100,000 again (MM)
- Canada: Prime Minister Justin Trudeau resigns - successor unclear (ZDF)
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