Category: World

Nigeria has secured a $747 million syndicated loan, led by Deutsche Bank, to fund the initial 47.47‑kilometre phase of its flagship coastal highway spanning from Victoria Island to Eleko Village in Lagos. The Ministry of Finance confirmed the financing on Wednesday, marking a record for road infrastructure funding in the country.Lenders in the syndicate include First Abu Dhabi Bank, African Export‑Import Bank, Abu Dhabi Exports Office, ECOWAS Bank for Investment and Development, Nexent Bank and a consortium of Zenith Bank branches.

Russian Deputy Foreign Minister Sergei Ryabkov stated on Thursday that BRICS is not an “anti‑American” bloc and will reject any “language of threats and manipulation.” This assertion followed U. S. President Donald Trump’s announcement that countries adopting what he termed “anti‑American policies” aligned with BRICS would face an extra 10 per cent tariff.Ryabkov emphasised BRICS’ focus on dialogue and constructive engagement, not confrontation. He underscored that the group will not be swayed by coercion, signalling Moscow’s intent to maintain equilibrium amid escalating

Accra Regional Police have arrested Emmanuel Akanpatiba, a principal figure in a motorbike theft syndicate accused of stealing at least 12 motorbikes across the region. The arrest marks a significant breakthrough in a complex network operating within Accra's metropolitan zones.Police said Akanpatiba was detained on 24 June following a tip-off after a red Royal motorbike—registration M‑25 CW 367—was reported stolen from a Madina residence. The arresting team acted swiftly on intelligence and recovered the stolen vehicle. During interrogation, Akanpatiba admitted involvement and

Stringent new visa rules now govern travel from Nigeria to the United Arab Emirates, marking a sharp increase in restrictions. Transit visas have been fully suspended, while tourist visas for solo applicants aged 18 to 45 are no longer allowed. Those aged 45 and above must now demonstrate a six-month bank balance of at least USD 10,000 to qualify.A directive communicated to travel agents in Dubai on Tuesday specified that Nigerians travelling alone within the 18–45‑year age range are ineligible for tourist

Moscow has formally placed Yale University on its “undesirable organisations” list, citing the institution’s alleged role in orchestrating anti-Russian activities and training opposition figures.Russian authorities accuse Yale’s Jackson School of Global Affairs, particularly its International Leadership Center, of educating individuals who later joined the Anti‑Corruption Foundation founded by the late Alexei Navalny, using their acquired skills to fuel protest movements. The Prosecutor General’s Office claims this threatens Russia’s territorial integrity, supports an international blockade, and destabilises its socio‑economic and political

U. S. former President Donald Trump has warned that any nations aligning with the BRICS bloc’s efforts to challenge the U. S. dollar will face a 10 % tariff, set to take effect by 1 August unless a deal is struck. Speaking at a Cabinet meeting and in a post on his Truth Social platform, Trump characterised BRICS’ currency ambitions as tantamount to “destroying the dollar,” likening such a loss to the outcome of a major war and pledging not to

Elon Musk stated that his newly formed America Party will officially support Bitcoin, branding traditional fiat currency as “hopeless.” He responded succinctly on X to a user asking whether his party would embrace the flagship cryptocurrency: “Fiat is hopeless, so yes.”Musk’s announcement aligns with the party’s broader platform of fiscal conservatism, deficit reduction and modernisation of government, which is packaged alongside calls for balanced budgets and strategic investment in technology and national security. He introduced the party on

President Vladimir Putin has asserted that Russia provided crucial support to the American colonists during their fight against Great Britain, claiming it supplied weapons and financial assistance to back their independence struggle. Speaking in a phone conversation with former President Donald Trump, Putin described Russia’s involvement as part of an “actual” effort to help the fledgling United States.Putin’s declaration places the spotlight on historical narratives amid intensifying geopolitical narratives. Analysts are swiftly assessing the veracity of the claim and its

Elon Musk has announced the formation of the “America Party”, marking a definitive rupture with Donald Trump. The billionaire declared the project via a post on X, stating the party is “formed to give you back your freedom” and emerged in response to overwhelming support—by a two‑to‑one margin—expressed through a poll on his platform. This move comes after Musk condemned Trump’s “One Big Beautiful Bill”—a sweeping $3.3 trillion tax‑cut and spending package—labelled by Musk as fiscally reckless and a threat to

Finance ministers from the BRICS nations have pressed the International Monetary Fund to adopt sweeping reforms that would recalibrate its governance and better represent developing economies. They jointly advocated for a modernised quota formula, increased voting power for emerging and low-income countries, and the installation of a merit-based leadership system, rather than the customary European-led management.Meeting in Rio de Janeiro ahead of the BRICS summit, ministers from Brazil, Russia, India, China, South Africa, and the newly included members—Egypt, Ethiopia,

Heads of government gathered in Rio de Janeiro for the 17th BRICS summit on 6–7 July 2025, yet Iran’s President Masoud Pezeshkian will not attend in person, opting to join virtually amid escalating regional tensions. This marks a notable shift in IRGC diplomatic strategy and signals Tehran’s cautious engagement with the global bloc.Brazilian host Lula da Silva extended formal invitations to all member nations, including Iran. While China’s Premier Li Qiang and Russia’s Vladimir Putin will participate via video link,

A record net outflow of 16,500 high-net-worth individuals is set to leave the UK in 2025, marking the largest wealth exodus recorded globally. This trend, stemming from major shifts in tax policy and visa regulations, signals a turning point in the UK's appeal to the global rich.High earners are relocating in large numbers in response to the scrapping of the non-domicile status in favour of a residency-based taxation regime. Those who have lived in the UK for more than four

Ukrainian President Volodymyr Zelensky has formally stated he is prepared to meet Russian President Vladimir Putin in person to negotiate a ceasefire and work towards ending the conflict. He emphasised that a direct encounter between the two leaders is the only path to a meaningful halt in hostilities.Zelensky’s announcement follows previous calls for a 30‑day ceasefire that would hold until a summit could be arranged between him and Putin. Speaking from Kyiv, he said a pause in fighting would allow both sides—and

The International Monetary Fund has cleared the initial review of its Extended Credit Facility arrangement with the Democratic Republic of Congo, triggering an immediate disbursement of US$ 262 million. That sum bolsters the Kinshasa government's fiscal breathing room as it seeks to address critical economic vulnerabilities and foster sustainable growth.This second tranche under the three‑year programme comes after IMF staff and Congolese authorities agreed on key conditions aimed at reinforcing public finances, improving governance and boosting revenue mobilisation. The Executive Board must

President Trump has confirmed that the United States and Vietnam have reached a trade agreement, with a detailed framework now in place while formal terms await finalisation. The accord suspends the 46 per cent reciprocal tariff on Vietnamese imports, originally imposed in April, and paves the way for expanded market access and tighter controls on rerouted Chinese goods.Negotiations were fast-tracked to meet the looming July 9 deadline, when the temporary pause on tariffs would otherwise lapse. As part of the layout, Vietnam

A specialised Indian geological team has been dispatched to Zambia to commence a three‑year survey of copper and cobalt within a 9,000 km² exploration zone. The initiative, authorised by the Zambian government earlier this year, aligns with New Delhi’s broader drive to shore up supplies of strategic minerals essential for its energy‑transition and technological ambitions.Zambia, a major exporter of copper—Africa’s second‑largest producer after the Democratic Republic of Congo—and a significant cobalt reserve, represents a strategic asset in India’s efforts to diversify

South Africa will receive a $474.6 million loan from the African Development Bank to overhaul its transport systems and energy infrastructure, the Bank announced on Tuesday. The financing, part of a broader international development package, aims to tackle persistent power outages, outdated rail networks and port congestion that have hampered economic performance.The loan is being deployed under the Infrastructure Governance and Green Growth Programme, the Bank’s second phase in support of South Africa’s just energy transition. It builds on a

Iran’s parliament has passed legislation criminalising the use, operation or possession of Elon Musk’s Starlink satellite internet system, citing concerns over national security and unauthorised communications. The bill now awaits approval from the Guardian Council before becoming enforceable law.Authorities warn that penalties may include hefty fines, imprisonment and even corporal punishment. The Ministry of Information and Communications Technology contends that unlicensed satellite networks threaten sovereignty and could facilitate hostile interference.This move follows a national internet shutdown in mid‑June

Eight‑year‑old Gavin Batarse, CEO of Glove Wrap, secured a $50,000 investment from Mark Cuban and Michael Rubin on the US ‘Shark Tank’ stage for his ingenious sports glove accessory. The lightweight elastic band, costing just $3 to produce and retailing at $19.99, simplifies the process of breaking in baseball, softball or hockey gloves by holding a ball in place until a perfect pocket is formed.Gavin pitched with clarity and maturity, explaining that a single wrap around the glove achieves in

Australia’s earnings from mining and energy exports are set to decline over the coming years, with rising gold revenues unable to fully offset weak demand and price falls in iron ore, liquefied natural gas and coal. Government projections show a fall from A$415 billion in 2023–24 to A$385 billion in 2024–25, and further to A$352 billion by 2026–27.The Office of the Chief Economist highlights that surplus global supply—particularly in iron ore and LNG—is driving down prices. Forecasts indicate iron ore revenue declining