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Saudi Arabia announced severed ties with Iran after its embassy in Tehran was firebombed in protest at the kingdom's execution of Shiite cleric Sheikh Nimr al-Nimr.
Incidentally, the document names the United States as one of the threats to Russia's national security for the first time.
China has been reeling from a weakened global commodities market.
Surveys across Asia showed industry struggling with slack demand.
Germany says Greece is not doing enough to secure its borders amid a continuing refugee crisis.
The attack took place a week after Indian Prime Minister Narendra Modi's surprise visit to Pakistan.
... 2016 is going to be even more rousing as many conflicts peak and global economic policies play out.
With Russia insisting on going ahead with restrictive measures against both Turkey & Ukraine, businesses in both countries are expected to feel the blow.
Brazil needs to urgently find a new development model, writes a Brazilian economist.
Russia and China have set a bilateral trade target of $200 billion by 2020.