International relations, geopolitics, wars, major global shifts
Global military spending rose to a record $2.89 trillion in 2024, its eleventh straight annual increase, led by a sharp European rearmament push. U.S. defence spending declined, marking a notable shift in who is driving global security costs. European NATO members, long under pressure to hit the 2% of GDP spending
Trump's DOJ has indicted former FBI Director James Comey over a social media post displaying '86 47', interpreted as a threat against Trump, the 47th president. The case raises immediate questions about whether the post meets the legal threshold for a criminal threat. It is the first known instance of the current
Trump says Iran reached out to ask Washington to lift its naval blockade on Iranian ports. The blockade cuts off Iranian trade and oil exports, putting direct pressure on Tehran's economy. Separately, an Israeli strike killed medical workers, widening the conflict's humanitarian impact.
Oxford University and Serum Institute of India have partnered to develop R78C, a new malaria vaccine that targets multiple stages of the parasite. Serum will manufacture doses at scale, potentially accelerating access in high-burden regions like sub-Saharan Africa.
The US has slapped a 123% preliminary anti-dumping duty on solar cells and modules imported from India. India's solar industry says immediate export impact is limited, but the tariff could shut Indian manufacturers out of the US market if finalised. The ruling is preliminary, meaning a final determination still lies
Iranian officials have offered to reopen the Strait of Hormuz if the US lifts its blockade and the ongoing war ends. The proposal also delays nuclear program negotiations to a later stage, decoupling the two issues. Any US response will be closely watched by global energy markets given the strait's role in oil
Shots fired near the White House Correspondents' Dinner on Saturday forced the evacuation of President Trump and Vice President Vance. Trump later held a press conference and shared an image of the suspected shooter. Details on injuries, casualties, or motive were not confirmed in early reports.
The UAE, OPEC's third-largest producer, is leaving the cartel on May 1. Its exit reduces OPEC's collective output control and could allow the UAE to pump oil without group restrictions. The impact on crude prices depends on how independently the UAE chooses to operate.
Secret Service evacuated President Trump from a Washington, D.C., event after shots were fired and a shooter was detained. A witness heard security shout at a person to stop before gunfire erupted in a nearby corridor. No injuries to Trump have been reported.
U.S. crude oil broke above $100 a barrel after the UAE said it would exit OPEC and Iran nuclear talks hit a wall. Both moves point to tighter global oil supply, pushing energy prices higher. The $100 threshold directly affects fuel costs and inflation.
The UAE has announced it is leaving Opec and Opec+, the producer groups that coordinate global oil output. The exit removes one of the Gulf's largest producers from supply agreements, raising questions about the bloc's ability to manage output. Markets will watch for any UAE production increase and a Saudi response.
The UAE announced it will permanently exit OPEC on May 1 after an official review of its oil production policy. Losing one of its largest producers weakens OPEC's ability to control global oil supply and prices. The exit could allow the UAE to pump oil freely beyond current cartel-imposed limits.
The United Arab Emirates announced it is leaving OPEC after more than 50 years of membership. The exit removes a major Gulf producer from the cartel, weakening its ability to coordinate global oil supply and support prices. Markets will watch whether the UAE moves to raise output independently.
The UAE has announced its withdrawal from OPEC and the OPEC+ alliance, ending its participation in coordinated oil output management. The exit frees Abu Dhabi to produce above its previous quota, which could push more crude into global markets and pressure oil prices downward.
The UAE will leave OPEC on May 1, ending nearly six decades of membership in the producer group. The exit lets the country raise oil output freely, adding potential supply to an already volatile market. This could push crude prices lower and may prompt other quota-frustrated members to reassess their own positions.
India and New Zealand signed a free trade agreement on April 27, with Minister Piyush Goyal framing it as part of a reshaping of the global economy. The deal could open new market access for exporters on both sides, though specific tariff and product details have not yet been released.
The UAE has announced it is withdrawing from OPEC and OPEC+, one of the most significant exits in the cartel's history given the country's large output. The move weakens OPEC's ability to coordinate production cuts and could put downward pressure on global oil prices. No further timeline or replacement framework has
India and New Zealand signed a free trade agreement, with Commerce Minister Piyush Goyal and New Zealand's Trade Minister Todd McClay inking the deal. The pact lowers trade barriers on goods and services between the two countries, opening new market access on both sides.
A gunman fired at Secret Service personnel at the White House Correspondents' dinner Saturday, prompting agents to evacuate President Trump and First Lady Melania. The agent hit was protected by body armor and unharmed. The suspect is due in court Monday on federal assault and firearms charges.
The UAE will exit OPEC on May 1, ending over 60 years of membership and removing one of the group's largest producers from its output coordination framework. The loss weakens OPEC's ability to manage global crude supply and defend prices. Regional tensions tied to the Iran conflict appear to have hastened the split.