Bank of Russia to cut key interest rate

⁠⁠⁠⁠⁠⁠⁠The Bank of Russia announced on Friday that it would cut its key interest rate by 25 basis points to 14.00 percent. In an effort to curb rising inflationary pressures, Russia's central bank raised its key interest rate to a high of 21 percent in October 2024. Starting in June 2025, as inflation gradually slows down and economic activity cools, the central bank began a cycle of interest rate cuts. The latest rate cut marks the 10th consecutive reduction since the cycle began, with a cumulative reduction of 700 basis points.

A delegation of foreign diplomatic envoys visited south China's Hainan from Wednesday to Saturday, learning about the province's rapid development and exploring potential areas of cooperation.

The trip, organized by the Ministry of Foreign Affairs, brought together over 30 ambassadors, chargés d'affaires, representatives of international organizations, and senior diplomats from countries including Kenya, Serbia, Spain and Vietnam.

In Sanya's Yazhou Bay Science and Technology City, the delegates gained insights into China's independent innovation in the seed industry and the country's agricultural technological transformation in response to climate change.

"We can invite a lot of the persons from this institute to come to Dominica to teach us some of the advanced technologies and the practices that we should employ in agriculture," said Martin Charles, Dominica's Ambassador to China.

The delegates also toured the innovative drug and medical device exhibition, as well as health and wellness institutions in the Boao Lecheng International Medical Tourism Pilot Zone.

Hailed as China's sole "medical special zone", the pilot zone is home to over 30 top-tier domestic and international medical institutions.

"The medical advances are the ones that have struck me most for the moment. There are so many fields where we can cooperate," said Javier Garcia-Larrache, Spain's charge d'affaires ad interim in China.

The delegates also visited villages to experience folk culture, including Li brocade from the Li ethnic group, traditional Chinese medicine sachets, and bamboo pole dances, immersing themselves in the province's rich and vibrant local cultures.