Crypto News: World Cup showdown

The last time Iran and the US faced each other in a World Cup, in 1998, Iran's team gave their rivals white flowers as a peace gesture before winning 2-1 in what state media called the "match of the century."

They'll repeat the fixture today as ties between the countries test new lows over accusations of foreign support for protests that have rocked the Islamic Republic for months.

Key reading:

For Iranian leaders, the match is a chance to rally the country behind their squad despite unrest at home, and maybe even humble the "great Satan" on the biggest stage in the world.

They blame the US for inciting protests where rights groups say security services have killed more than 400 people. A rare diplomatic opening also snapped shut earlier this year when talks to revive the 2015 nuclear deal stalled.

Besides a propaganda opportunity for the state, an Iran win could affect the course of the protests, which erupted in September after the death of a young woman in police custody.

The judiciary announced the release of 1,156 prisoners, including some demonstrators, to mark last week's 2-0 defeat of Wales. One member of parliament is calling for a national holiday if Iran beats the US, giving pro-government forces a chance to portray themselves in control. Any such day would likely be marked more by parades by loyalists than street protesters.

Iranian forward Karim Ansarifard sought a balanced tone at a pre-match press conference yesterday. Asked about what it would mean to beat the US, he said "we would like to make our people happy," but added, "we will do our best to hold our country's head high." — Patrick Sykes

Iran's players listen to their national anthem ahead of their World Cup match against England on Nov. 21. Photographer: Fadel Senna/Getty Images

Click here to subscribe to our weekly newsletter Next Africa, and if you're enjoying this newsletter, sign up here for Balance of Power.

Pushing inoculation | China said it would bolster vaccination among its senior citizens, a move regarded by health experts as crucial to reopening an economy stuck in an endless loop of Covid Zero curbs. But it stopped short of announcing mandates that helped raise inoculation rates in other countries, indicating it will continue to follow its own path out of the pandemic.

Authorities are responding to protests against stringent Covid curbs with a heavy police presence, censorship on social media and some quiet concessions even as the country's outbreak continues to flare.
The US is reacting cautiously to the protests in China, just two weeks after President Joe Biden and Chinese President Xi Jinping agreed to warm up ties between their countries.

A protest against strict Covid measures in Beijing. Photographer: Kevin Frayer/Getty Images

Membership stalled | NATO foreign ministers meet in Romania today for discussions that will be dominated by Russia's war in Ukraine. But as Natalia Drozdiak and Daryna Krasnolutska report, while the supply of more air-defense systems will feature on the agenda, Kyiv's pleas for accelerated accession to the alliance are unlikely to yield any significant progress.

Follow our latest coverage of the Russian invasion here.

The US Senate is expected to pass a bill today that would federally recognize same-sex marriages. Democrats see the legislation as protection against a possible Supreme Court decision to overturn its 2015 ruling in Obergefell v. Hodges, which requires all states to grant same-sex marriage licenses, as it did this year with the Roe v. Wade decision on abortion.

Apology demand | Former US Vice President Mike Pence urged Donald Trump to apologize for dining last week with rapper Ye and a well-known white nationalist and denounce "their hateful rhetoric without qualification." Pence, who may challenge Trump for the Republican Party presidential nomination in 2024, is the most prominent GOP member to criticize the former president for the meeting.

Nuclear ambition | Nearly two decades after Poland set its sights on obtaining atomic energy, the government picked two foreign companies within three days to build its first nuclear power plants. The rush in deal-making is prompting questions about an endeavor meant to reduce the economy's reliance on coal.

Debt load | A bill introduced to Brazil's congress yesterday marks the opening salvo in a debate over how much President-elect Luiz Inacio Lula da Silva's incoming government can spend to meet its campaign pledges. Lula needs the extra resources laid out in the bill to fund a flagship social aid program, but some lawmakers fear Brazil's fiscal position could be put at risk, while investors are watching for any impact on debt sustainability.

Bloomberg TV and Radio air Balance of Power with David Westin on weekdays from 12 to 1pm ET, with a second hour on Bloomberg Radio from 1 to 2pm ET. You can watch and listen on Bloomberg channels and online here.

Japanese Prime Minister Fumio Kishida instructed his defense and finance ministers to boost national-security-related spending to 2% of gross domestic product by the 2027 fiscal year.
Anwar Ibrahim urged Malaysia's civil service to cooperate with him, as the reformist prime minister faces an uphill task to win over the traditionally pro-establishment workforce.
Italian Prime Minister Giorgia Meloni is ready to meet with French President Emmanuel Macron to try and resolve a diplomatic spat over rescue ships carrying migrants, local media reported.
Singapore repealed a longstanding and controversial legal ban on sex between men while also amending the constitution to ensure only parliament has the right to define marriage, which is currently between a man and a woman.
Biden and Speaker Nancy Pelosi are seeking to prevent a shutdown of US freight railroads, with the House preparing to move to impose a settlement over the objections of some unions.
Qatar is to supply Germany with liquefied natural gas under a long-term deal that will help Berlin replace Russian gas.

And finally ... India is dreaming up a Dubai and Singapore style global finance hub. Spread over nearly 900 acres of what was once scrub land in Prime Minister Narendra Modi's home state, the Gujarat International Finance Tec-City is emerging, attracting companies like JPMorgan Chase and HSBC. Drawing them in, as Jeanette Rodrigues and Subhadip Sircar explain, are exemptions from the many rules and taxes that hamper business and trading in the rest of India.