India and New Zealand have signed a free trade agreement, formalising a deal that lowers barriers on goods and services traded between the two countries. Commerce and Industry Minister Piyush Goyal signed for India, while New Zealand's Trade and Investment Minister Todd McClay represented his side. The signing marks a significant shift in bilateral economic ties, which have historically been limited compared to India's trade relationships with other Pacific nations. A free trade agreement typically removes or reduces import duties, making goods cheaper for businesses and consumers on both sides, and opens up services sectors to greater cross-border competition. For India, such deals can expand export markets for goods like textiles, pharmaceuticals, and IT services. New Zealand's key exports, dairy, meat, and agricultural products, could gain easier access to the large Indian market. Watch for details on tariff schedules, phase-in timelines, and which product categories get the most favourable treatment, as these will determine the actual economic impact for both sides.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
