Category: World

Ethiopia’s finance minister has announced that the economy is projected to expand by 8.9 % in the fiscal year beginning 8 July 2025, alongside a modest increase in the budget deficit amid structural reforms.Finance Minister Ahmed Shide addressed parliament on Tuesday, outlining the forecast for the next fiscal year, citing an acceleration in real GDP growth from an estimated 8.4 % this year to 8.9 % next year. The state budget deficit is expected to rise slightly to 2.2 % of GDP, compared to 2.1 %

Dog owners across Nigeria are trimming meals and turning to homemade alternatives as soaring inflation and currency devaluation drive imported pet‑food costs up to levels equivalent to the national minimum wage. A crisis in livestock staples has now reached the country’s urban pet economy.Inflation in Nigeria has surged since May 2023, when the government removed a long-standing fuel subsidy and devalued the naira. General inflation hit nearly 35% last December—the highest in 30 years—with a softer but still elevated annual rate

A decisive £14.2 billion funding package has been confirmed to propel the construction of the Sizewell C nuclear power station and to seed the development of the country’s first small modular reactor fleet. The government asserts this marks a pivotal moment in reshaping the national energy landscape, targeting energy security, net‑zero goals, and economic growth through job creation and industrial benefits.Energy secretary Ed Miliband described the commitment as heralding a “golden age of nuclear”, driven by the need to break free from

Top-level officials from Washington and Beijing convened at London’s historic Lancaster House to try to uphold a fragile trade truce. The US team—led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer—pressed China to lift export restrictions on rare earth minerals, a linchpin in sectors from electric vehicles to semiconductors. China’s delegation, headed by Vice‑Premier He Lifeng and joined by Commerce Minister Wang Wentao and vice‑minister Li Chenggang, emphasised sustaining the state‑driven economic model while seeking concessions on US

African Union’s African Peer Review Mechanism has challenged Fitch Ratings’ downgrade of the African Export‑Import Bank, arguing the move rests on a misinterpretation of its sovereign loan portfolio. On 4 June, Fitch lowered Afreximbank’s long‑term foreign‑currency issuer rating from BBB to BBB‑—a notch above junk—with a negative outlook. The agency attributed the downgrade to elevated credit risk, citing an estimated non‑performing loan ratio of 7.1 %, primarily due to sovereign exposures to Ghana, South Sudan and Zambia classified as

Etihad Airways and Ethiopian Airlines have launched a strategic codeshare partnership designed to broaden travel options and enhance connectivity across their global networks. This collaboration enables passengers to access a wider array of destinations with seamless transfer options, utilising the complementary routes of the two carriers.The agreement allows Etihad, based in Abu Dhabi, and Ethiopian Airlines, headquartered in Addis Ababa, to offer joint flight services where each airline sells seats on the other's flights under their own flight numbers. This

Ethiopia has surged ahead to become Africa’s largest wheat producer, with output surpassing that of Egypt by a factor of three, according to Prime Minister Abiy Ahmed. This achievement marks a significant milestone in Ethiopia’s agricultural sector, underscoring its rising role in continental food security and economic development.Prime Minister Abiy announced this development during a national address, highlighting the government’s concerted efforts to boost domestic wheat production through investment in modern farming techniques, improved seed varieties, and expanded irrigation infrastructure.

Governor Gavin Newsom has labelled the federal deployment of California National Guard troops to Los Angeles as unlawful and a breach of state sovereignty. He formally requested their withdrawal in a letter to the defence secretary, emphasising that law enforcement agencies on both the state and local level were equipped to manage the protests without military reinforcement.Approximately 2,000 National Guard members, federalised under Title 10 of the U.S. Code, arrived in key areas of Los Angeles to protect federal personnel and

Debswana Diamond Company, Botswana's premier diamond producer, has initiated a significant reduction in its mining operations, citing sustained global demand weakness and mounting economic pressures. The company, a 50-50 joint venture between the Botswana government and De Beers, announced a temporary halt in production at key sites, including the Jwaneng Cut-9 and Orapa mines, aligning output with the subdued market conditions.This strategic move follows a challenging fiscal year for Debswana, which experienced a 46% decline in sales revenue in 2024

Top trade officials from the United States and China are set to meet in London on Monday, 9 June, in a bid to ease escalating tensions over tariffs, technology transfers, and critical mineral exports. The announcement follows a 90-minute phone call between President Donald Trump and President Xi Jinping, during which both leaders agreed to resume dialogue and expressed cautious optimism about resolving key disputes.Leading the US delegation will be Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US

A 6.4 magnitude earthquake struck northern Chile on Friday afternoon, causing minor infrastructure damage and leaving nearly 23,000 residents without electricity. No casualties have been reported, and authorities have ruled out the possibility of a tsunami.The quake occurred at 1:15 p.m. local time, with its epicentre located approximately 54 kilometres south of Diego de Almagro in the Atacama region, about 950 kilometres north of Santiago. The U.S. Geological Survey recorded the earthquake at a depth of 76 kilometres. Tremors were

A cluster of asteroids co-orbiting with Venus has captured the attention of astronomers due to their unpredictable trajectories, which could potentially intersect with Earth's orbit over extended timescales. These celestial bodies, known as Venus co-orbital asteroids, are challenging to detect from Earth because of their proximity to the Sun, raising concerns about the adequacy of current asteroid monitoring systems.Recent simulations indicate that some of these asteroids possess highly eccentric and unstable orbits, increasing the likelihood of them being perturbed into

Startups across India are increasingly turning to non-dilutive funding options to secure capital while retaining full ownership and control. This shift is driven by a desire to avoid the equity dilution often associated with traditional venture capital, especially amid fluctuating valuations and heightened investor scrutiny.Non-dilutive funding encompasses various financial instruments, including venture debt, revenue-based financing, and government grants. These options provide startups with the necessary capital without requiring them to relinquish equity stakes. For instance, venture debt has gained significant

Hunter Marquez graduated from the U.S. Air Force Academy with honours, expecting to begin their career as a commissioned second lieutenant. Despite meeting all academic and training requirements, Marquez and two other graduates have been barred from active duty due to restrictions stemming from a policy introduced during Donald Trump’s presidency that prohibits transgender individuals from serving openly in the military. This decision has ignited renewed debate about the role of transgender personnel in the armed forces and the broader

Ghana's gold reserves have surged to 31.37 tonnes in 2025, reaffirming its position as Africa’s leading gold producer. However, this growth is shadowed by a significant rise in artisanal and small-scale mining , which now accounts for nearly 40% of national output. The proliferation of unlicensed operations is raising alarms over environmental degradation, regulatory challenges, and the long-term sustainability of the country's mining sector.The Ghana Chamber of Mines projects a 6.25% increase in gold production, reaching 5.1 million ounces this

Elon Musk has launched a scathing attack on President Donald Trump's proposed $4 trillion tax and spending bill, branding it the "Debt Slavery Bill" and urging Americans to pressure lawmakers to reject it. The Tesla and SpaceX CEO's criticism comes as the U.S. national debt approaches $37 trillion, with the Congressional Budget Office projecting the bill would add approximately $2.4 trillion to the deficit over the next decade.Musk's denunciation marks a sharp reversal from his previous role as head

Syria’s transitional government has authorised immediate access for United Nations nuclear inspectors to several long-suspected former nuclear sites, marking a significant shift in the country’s stance on nuclear transparency.Rafael Mariano Grossi, Director General of the International Atomic Energy Agency , confirmed the development following high-level meetings in Damascus with President Ahmad al-Sharaa. Grossi described the new leadership as “committed to opening up to the world” and expressed optimism that the inspection process could be completed within months.The IAEA’s renewed access

A cargo ship transporting approximately 3,000 vehicles, including 800 electric models, was abandoned in the North Pacific Ocean after a fire erupted on board, compelling all 22 crew members to evacuate.The vessel, identified as the Morning Midas, was en route from Yantai, China, to Lázaro Cárdenas, Mexico, when the incident occurred about 300 miles southwest of Adak Island, Alaska. Smoke was first observed emanating from a deck housing electric vehicles. Despite deploying the ship's CO₂ fire suppression system, the crew

South Darfur is facing an escalating humanitarian catastrophe marked by widespread violence, acute malnutrition, and a collapsing healthcare system, according to a new report by Médecins Sans Frontières . The report highlights severe shortages in protection and assistance for civilians, particularly women and children, as the region grapples with ongoing conflict and restricted humanitarian access.Between January and March 2025, MSF treated 659 survivors of sexual violence in South Darfur, with over two-thirds of these cases involving rape. The report indicates

S&P Global Ratings has indicated that South Africa must accelerate economic growth and implement credible fiscal consolidation to achieve its first credit rating upgrade in two decades. Currently rated at 'BB-' with a positive outlook, the country remains below investment grade. Ravi Bhatia, S&P's lead analyst for South Africa, emphasized that sustainable growth, fiscal discipline, and avoiding further bailouts for state-owned enterprises are critical for an upgrade.The agency plans to decide within a year whether to upgrade the rating. Bhatia

Bruno, the open-source API client has been announced as a Platinum Sponsor for IndiaFOSS 2025, the upcoming edition of the Free and Open Source Software conference organised by the FOSS United community. The event is scheduled to take place from 20 to 21 September 2025 at the NIMHANS Convention Centre in Bengaluru.Bruno's sponsorship underscores its growing prominence within the developer community. Designed as a lightweight, Git-friendly alternative to Postman, Bruno emphasises offline functionality and data privacy. It stores API collections

Amazon has expanded its footprint in South Africa by adding non-perishable groceries, pet food, and health supplements to its product range. This strategic move aims to capture a larger share of the growing e-commerce market in the region, responding to increasing consumer demand for online shopping options beyond electronics and household goods.The online retail giant first entered South Africa’s e-commerce landscape in 2023, initially offering categories such as electronics, books, fashion, and homeware. The addition of essential groceries and wellness

President Bola Tinubu has bestowed Nigeria’s third-highest national honour, the Commander of the Order of the Federal Republic , on Bill Gates. The recognition acknowledges Gates’s substantial philanthropic contributions to the country, particularly through the Bill & Melinda Gates Foundation, which has invested heavily in public health and agriculture sectors across Nigeria.The conferment took place during a formal ceremony in Abuja, underscoring the Nigerian government’s appreciation for Gates’s enduring commitment to tackling some of the country’s most pressing challenges. The