Representatives attend a session on the Iranian nuclear issue in Geneva on November 24 (XINHUA/AFP)

Iranian Nuclear Issue Breakthrough

The latest round of the Iranian nuclear talks concluded in Geneva on November 24 with Iran and the UN Security Council's five permanent members plus Germany reaching a landmark deal over its nuclear program, an event that is widely considered as an important first step toward a comprehensive solution of Iran's nuclear issue. The United States and its allies will provide Iran with limited relief of sanctions on its oil, gold, petrochemicals, auto industry and civil aviation industries with an estimated value of $7 billion under the terms of the six-month nuclear deal. In exchange, Iran agreed to halt enrichment of uranium above 5 percent and neutralize its stockpile of near 20 percent uranium.

WTO Director General Roberto Azevedo (second left) and Gita Wirjawan (second right), Chairman of the Ninth WTO Ministerial Conference and Indonesia's Trade Minister, attend the closing ceremony of the conference in Bali, Indonesia, on December 7. The WTO sealed its first ever trade package at the meeting (LU XIAOWEI)

Slow Global Economic Recovery

The world economy showed tangible signs of recovery from the devastation wrought by the 2008 global financial crisis this year. The U.S. Federal Reserve announced a slowdown in its stimulus efforts in December. Similarly, Ireland became the first euro-zone country to exit a bailout program. While developed economies slowly rebounded, emerging markets and developing countries maintained robust growth.

The funeral cortege for former South African President Nelson Mandela drives through Pretoria's streets on December 11 (XINHUA/AFP)

Great Leader Passes Away

Nelson Mandela, the revered icon of the anti-apartheid struggle in South Africa and one of the greatest political figures of the 20th century, died in Johannesburg on December 5 at the age of 95. World leaders and tens of thousands of South Africans gathered at an official memorial service in the South African city on December 10 to pay homage to Mandela. People elsewhere around the world also held various gatherings to mourn the passing of the great man.

A typhoon survivor walks past signs pleading for help in a fishing village on the eastern Philippine island of Leyte on November 18, more than one week after Super Typhoon Haiyan devastated the area (XINHUA/AFP)

Devastating Typhoon

Super Typhoon Haiyan, the strongest storm this year, ravaged the central part of the Philippines on November 8, leaving over 6,000 people dead, 1,700 missing as well as 1.9 million losing their homes to it. The estimated damage reached more than $237.44 million to infrastructure and $208.73 million to agriculture. Foreign assistance poured into the Philippines after the country experienced the devastating natural disaster. The typhoon also affected Viet Nam and south China.