Category: World

Norway's $2.3 trillion sovereign wealth fund should be permitted to invest in major Western defence manufacturers currently excluded because of their involvement in nuclear weapons, a government-appointed commission recommended on Thursday. The proposal would allow the world's largest sovereign wealth fund to acquire shares in companies including Airbus, Boeing, BAE Systems and Lockheed Martin, potentially opening the way for investments worth tens of billions of dollars. Any change requires political approval and has not yet taken effect. The commission, chaired by former

A claim that a magnitude 6.9 earthquake has struck Japan on Friday, 16 October, remains unverified, with available official seismic records providing no confirmation of a new tremor of that strength. Japan's earthquake monitoring authorities have recorded seismic activity across the country, but the latest accessible observations do not establish the location, timing or magnitude of the earthquake described in the circulating alert. The National Research Institute for Earth Science and Disaster Resilience recorded a magnitude 2.9 earthquake off Fukushima prefecture at

US cybersecurity shares have surrendered part of September's gains as investors weigh growing demand for artificial intelligence protection against the possibility that AI developers could become competitors to established security companies. Shares in leading vendors fell on Wednesday, 14 October, amid speculation that OpenAI was exploring an acquisition of security specialist Trail of Bits. No transaction had been announced, and the possibility of a deal did not establish that OpenAI intended to displace existing suppliers. Palo Alto Networks and CrowdStrike were among

Copper prices fell for a third consecutive session on Thursday as stronger-than-expected US inflation intensified expectations of further Federal Reserve interest rate increases, triggering selling across industrial metals. The decline followed Wednesday's consumer price report, which showed inflation accelerating in September and reinforced concerns that borrowing costs could remain elevated. A stronger dollar and rising US Treasury yields added pressure to commodities priced in the American currency. Copper traded around $14,333 a tonne, down approximately 1.1%, as investors reassessed monetary policy expectations.

Thick smoke from Indonesia’s forest and peatland fires turned skies orange across parts of Kalimantan on Thursday, sharply reducing visibility as neighbouring East Timor began a three-day nationwide school closure amid worsening regional air pollution. Palangkaraya, the capital of Central Kalimantan province, experienced particularly severe conditions, with yellow and orange skies and visibility falling to a few dozen metres. Residents faced hazardous concentrations of airborne particles as fires continued burning across extensive forest and plantation areas. East Timor suspended classroom teaching from

Global diesel supplies are expected to remain severely constrained well into 2027, threatening to sustain inflation and weaken economic growth as conflicts disrupt refinery operations and fuel exports from the Middle East and Russia, the International Energy Agency has warned. The Paris-based agency said in its October oil market report that recovering refinery production would be insufficient to replenish depleted inventories before the second half of next year. Persistent shortages have pushed diesel prices to record levels, raising transport, manufacturing and

US Treasury bonds fell sharply on Wednesday after stronger than expected inflation figures drove yields higher and prompted traders to increase bets on further Federal Reserve interest rate rises. The sell-off followed government data showing consumer prices rose 3.7% in September from a year earlier, accelerating from 3.4% in August and exceeding economists' expectations of 3.6%. The figures complicated the Federal Reserve's assessment of whether additional monetary tightening is needed to contain persistent price pressures. The benchmark 10-year Treasury yield briefly climbed

Legal & General is protecting its government bond purchases against another global debt selloff, using futures contracts to limit losses even as higher yields create buying opportunities. The British asset manager, which oversees approximately £1.2 trillion, has been purchasing sovereign debt while taking offsetting positions in bond futures, according to Chris Jeffery, its head of macro strategy. The approach reflects growing concern that government borrowing pressures and persistent inflation could push yields higher still. The strategy allows the firm to retain exposure

Pope Leo XIV has been diagnosed with lung cancer after surgeons removed the lower lobe of his right lung during an operation in Rome, the Vatican has confirmed. The 71-year-old pontiff underwent surgery at Agostino Gemelli University Hospital on Tuesday after routine examinations identified a small nodule. Tests on tissue during the procedure confirmed lung adenocarcinoma, a form of cancer that doctors had already suspected from examinations conducted before the operation. The Vatican said on Wednesday that Leo had spent a calm

Rwanda will host a Formula One Grand Prix under a 10-year agreement announced on Tuesday, ending Africa’s absence from the championship calendar since 1993 and establishing a new racing venue near Kigali. The Fédération Internationale de l’Automobile (FIA) and Formula One confirmed that the African Grand Prix, presented by Visit Rwanda, will begin in the early 2030s, subject to completion of a purpose-built circuit in Bugesera. FIA President Mohammed Ben Sulayem described the agreement as a historic moment for international motorsport, highlighting

Al Jazeera rejected allegations of fraud and breach of contract brought by former US vice-president Al Gore and business partner Joel Hyatt over its $500 million acquisition of Current TV, defending its decision to retain millions of dollars from the transaction. The Qatar-based broadcaster said the allegations, made in August 2014, were false and potentially misleading. It maintained that contractual protections agreed during the January 2013 acquisition entitled it to seek compensation for liabilities arising from Current TV's operations before the

Canada has established a national artificial intelligence council to advise Prime Minister Mark Carney's government on safe adoption, economic opportunities and domestic control of critical technology. The Prime Minister's National Council on Artificial Intelligence, announced on 2 October, brings together researchers, entrepreneurs, investors and public-sector specialists to provide independent advice on the government's AI for All strategy. Its remit includes managing technological risks, improving public services and strengthening Canada's capacity to develop and operate AI systems. The council will advise rather than

KFC will introduce its Kentucky Town festival in Kenya on 20 October, combining locally inspired food, Kenyan-made clothing and weekend events across Nairobi in the concept's first East African outing. The campaign, called Kentucky Town 254, will run until 15 November, with seven special menu items offered at selected restaurants and four shopping centres hosting pop-up events. The restaurant menu will remain available between the weekend events, allowing customers to try the dishes without attending pop-ups. Nairobi fashion label home_254 has

Panama has activated emergency measures and intensified relief operations after powerful earthquakes and more than 200 aftershocks damaged hundreds of homes, schools and hospitals across the country. President José Raúl Mulino's government declared a national state of emergency on Saturday, 10 October, following two earthquakes on Friday measuring magnitudes 7.7 and 6.6. Authorities reported at least 27 injured people but no confirmed deaths, while assessments continued in isolated communities. By Sunday, emergency authorities had identified damage to nearly 900 homes, a substantially

Britain’s Chancellor John Healey has ruled out extending the planned mansion tax to homes worth £1.5 million, preserving the £2 million threshold despite mounting pressure to raise revenue ahead of this month’s Budget. The decision follows concerns among Labour MPs that widening the levy would capture substantially more households in expensive neighbourhoods, particularly London, and intensify opposition to a tax intended to target the wealthiest property owners. The annual charge, formally called the High Value Council Tax Surcharge, is scheduled to begin

Jeffrey Epstein spent years cultivating filmmaker Woody Allen through expensive gifts, private travel and carefully arranged social encounters, using their relationship to gain access to influential figures, particularly in France, newly examined correspondence shows. Emails released by the US Department of Justice trace a relationship that began at a New York dinner on 2 December 2010 and continued until Epstein's death in August 2019. The records show the convicted sex offender deliberately sought Allen's company while attempting to rebuild his standing

China's rapidly expanding hybrid vehicle exports to the European Union face new restrictions following a trade understanding between Beijing and Brussels, potentially disrupting a market worth $7.5 billion in the first six months of 2026. Chinese customs figures show shipments to the EU's 27 member states tripled from $2.5 billion during the corresponding period last year. The half-year total was nearly nine times the $845 million recorded throughout 2021, illustrating how quickly manufacturers have expanded their presence. European Trade Commissioner Maroš Šefčovič

Turkey has prohibited social media companies from providing services to children younger than 15 under regulations published on Saturday, with the restrictions scheduled to take effect on 1 November. The rules, issued by the Presidency's Cyber Security Directorate and published in the Official Gazette, require platforms to verify users' ages, refuse registrations by children below the threshold and close accounts identified as belonging to them. They also impose extensive safeguards on accounts held by teenagers aged 15 to 17. Social network operators

Saudi Arabia confirmed on Sunday that 12 people were killed and 309 injured in an attack on King Khalid International Airport in Riyadh, prompting a temporary suspension of operations and widespread flight disruptions amid escalating hostilities with Yemen's Houthi movement. The General Authority of Civil Aviation said Saturday's attack caused extensive casualties and material damage to airport facilities. Several injured passengers and other victims remained in critical condition, while emergency medical teams continued treating casualties at hospitals across the capital. The fatalities

Hurricane Simon intensified into a powerful Category 4 storm on Saturday, threatening Mexico's Pacific coast with destructive winds, dangerous storm surges and potentially deadly flooding as authorities accelerated evacuations and emergency preparations. The US National Hurricane Center said Simon had sustained winds reaching 155mph (250km/h) by Saturday evening. Its centre was approximately 65 miles south-southwest of Manzanillo, moving northwards at about 5mph towards Mexico's west-central coastline. Forecasters warned that the hurricane's eyewall was approaching the coast, with conditions expected to deteriorate overnight.