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Eurozone economy

A new survey has showed that the eurozone economic recovery is losing steam, amid rising prices caused by a supply chain crisis. The survey was conducted by the London-based information provider IHS Markit. It says the purchasing managers' index slipped to 54.3 this month. The figure was above 56 and at 59 points in September and August respectively. The study says the eurozone could falter in the near-term as the pandemic continues to disrupt economies and push prices higher. Things don’t seem good in the UK either. Based on official data, retail sales volumes dropped for a fifth month in a row during September. The slump is blamed on a fuel crisis that has led to delays in shipping goods and high prices.

NATO anti-Russia strategy

Tensions escalating between Russia and the West. The Kremlin says NATO’s adoption of a new strategy against Moscow shows that the military alliance has been created for confrontation. The Kremlin also defended an earlier Russian decision to sever ties with NATO, saying it was correct. Moscow says, under these conditions, there’s no need for dialog. This week, NATO defense ministers agreed a new master plan focusing on Russia. They said the plan aims to defend against what they called any potential Russian attack on multiple fronts. In addition to that, the western military alliance accused eight Russians of spying and expelled them. In a tit-for-tat move, Russia cut relations by shutting its diplomatic mission to NATO and the alliance's mission in Moscow.

Tehran Friday prayers resume

The Iranian capital, Tehran, has held the first congregational Friday Prayers in nearly two years, after it was halted due to concerns over the coronavirus pandemic. Hundreds of worshipers attended the prayers in the University of Tehran amid strict health protocols. The national coronavirus task force, which had ordered the halt to the weekly ceremony in early 2020, authorized its resumption. The Friday prayers were, however, held in other Iranian cities following a downward trend in both cases and deaths amid the mass vaccination drive. More than 78-million doses of COVID vaccines have so far been administered nationwide. Iran logged over 11,000 new infections and 165 more deaths on Friday. The country’s total infections stand at over 5.84 million with nearly 125,000 deaths.

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