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Republican Mike Johnson, a staunch supporter of former US President Donald Trump, has been elected as speaker of the House of Representatives. The result comes after weeks of congressional gridlock and signals a noticeable shift towards the right for his party in the lower chamber.

A new securities depository exchange in the Persian Gulf could replace Euroclear and Clearstream, a top banker has said An international depository settlement hub should be created in the Persian Gulf to provide an alternative to EU securities transactions companies Euroclear and Clearstream, the CEO of Russia’s second-largest bank VTB, Andrey Kostin, said on Thursday.