Category: World

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

Demand for physical gold is diverging sharply across regions, with US investors cashing in on their bullion holdings while Asian buyers ramp up their purchases. Data shows US retail demand for gold bars and coins dropped to roughly 19.3 tonnes in the first quarter of 2025 — a five‑year low, down 22% year‑on‑year — as Americans took advantage of record prices to realise gains.Meanwhile, in Asia, appetite for physical gold remains robust. Chinese bar and coin demand reached its second‑highest

Afreximbank has confirmed the appointment of Dr George Elombi, its Executive Vice‑President for Governance, Legal and Corporate Services, as the institution’s fourth President and Chairman of the Board, effective September 2025. The decision was ratified during the 32nd Afreximbank Group Annual Meetings held in Abuja, Nigeria, from 25 to 28 June, culminating in formal shareholder approval on 28 June.A Cameroonian national with nearly three decades of service at Afreximbank, Dr Elombi entered the Bank in 1996 as a legal officer

Tens of thousands gathered in Belgrade on Saturday to demand early parliamentary elections and an end to President Aleksandar Vučić’s 12‑year hold on power, prompting a heavy police deployment and tense confrontations. reuters.com apnews.com apnews.comAuthorities stationed riot police in full gear around government buildings and Parliament, while supporters of the president camped in Pionirski Park, bolstering the political standoff. After the main protest ended at around 22:00 local time, clashes erupted: demonstrators hurled bottles, flares and rocks, and police responded with pepper spray,

Trade between the European Union and the East African Community reached €7.7 billion in 2024, marking a robust surge in economic engagement. Data from the EAC Secretariat and the European Commission reveal that Kenya led this growth, accounting for 43 per cent of total EAC trade with Europe.Kenya’s ascent to prominence has been propelled by its position as the region’s primary link to European markets. Under the Economic Partnership Agreement initiated in July 2024, it became the first EAC member to

UNESCO has mobilised global policymakers, academics and civil society leaders in Bangkok to cement the adoption of its 2021 Recommendation on the Ethics of Artificial Intelligence, the world’s only universal AI ethics framework endorsed by all 194 member states. With over 1,200 delegates from 88 nations and more than 35 ministers present, the third Global Forum on the Ethics of AI underlined the urgency of embedding ethics into AI governance amid growing geopolitical tension between the United States and China.UNESCO

Seventeen Nigerian soldiers have died and ten more were wounded after coordinated attacks on three military bases in Niger and Kaduna states, the army confirmed. The assaults began in the early hours of Tuesday, as heavily armed gunmen stormed forward operating posts in Kwanar Dutse and Boka, along with a base in neighbouring Kaduna State. Combat persisted for several hours under heavy fire.Army spokesperson Lieutenant Colonel Appolonia Anele stated that the attackers numbered around 300 and emerged from Kwanar

Ghana’s parliament has given approval to a $2.8 billion debt restructuring agreement with 25 creditor nations, including China, France, the United States, Germany and the United Kingdom. This authorisation is vital for unlocking further disbursements from a $3 billion IMF-backed bailout programme initiated in May 2023.Lawmakers, endorsing the restructuring unanimously, approved measures under a memorandum of understanding signed in January 2025 that reschedule debt payments falling due between 20 December 2022 and 31 December 2026. Repayment has been deferred until the 2039–2043 period, affording Ghana over 15 years

Dutch courts are set to rule on a class‑action lawsuit brought by Stichting Massaschade & Consument, which claims Sony has leveraged its dominance in the PlayStation ecosystem to impose inflated digital pricing, burdening an estimated 1.7 million gamers and costing consumers at least €435 million since 2013. At the heart of the case is the allegation that digital editions of games—often bought via diskless PS5 consoles—are around 47 per cent more expensive than their physical counterparts, despite significantly lower distribution costs.The Massaschade &