NEWS

A sluggish job market lowers consumer confidence but may also lead to another rate cut from the Federal Reserve by the end of the year.

United States consumer confidence sagged in November as households worried about jobs and their financial situation, likely in part because of the recently ended government shutdown.

The Conference Board said on Tuesday its consumer confidence index dropped to 88.7 this month, from an upwardly revised 95.5 in October, hitting its lowest level since April.

Economists polled by the Reuters news agency had forecast the index edging down to 93.4 from the previously reported 94.6 in October.

“Consumers’ write-in responses pertaining to factors affecting the economy continued to be led by references to prices and inflation, tariffs and trade, and politics with increased mentions of the federal government shutdown,” said Dana Peterson, chief economist at the Conference Board.

“Mentions of the labour market eased somewhat but still stood out among all other frequent themes not already cited. The overall tone from November write-ins was slightly more negative than in October.”

Consumer confidence remained low among all income brackets. While confidence among those who make less than $15,000 annually ticked up slightly, it still remained the group with the lowest consumer confidence.

The consumer confidence report was released amid a slowing labour market. The September jobs report, released late last week, showed 119,000 jobs were added to the US economy as the unemployment rate ticked up 0.1 of a percentage point to 4.4 percent.

However, there is limited economic data available to fully gauge the sentiment of the US economy because the government shutdown, the longest in US history, hindered federal agencies’ ability to gather the data needed to assess current conditions.

“More worries about what lies ahead … hence, putting purchases for major items on hold,” Jennifer Lee, senior economist at BMO, wrote to Reuters.

The economic data followed dovish comments from policymakers in the past few days that helped cement rate cut expectations.

On Monday, Federal Reserve Governor Christopher Waller said the job market was weak enough to warrant another quarter-point rate cut in December although action beyond that depended on a flood of data that was delayed by the federal government shutdown.

Bitter rivals India and Pakistan will face off in Group A at next year’s 20-team competition.

Archrivals India and Pakistan will clash in a politically-charged Twenty20 World Cup match in Colombo on February 15, the International Cricket Council (ICC) said as it announced the draw on Tuesday.

The 20-team tournament will be played across eight venues – five in India and three in Sri Lanka – between February 7 and March 8, the ICC said in a statement.

Pakistan will play all their games in Sri Lanka because of their soured political relations with India.

The March 8 final is scheduled for the western Indian city of Ahmedabad but would be moved to Colombo if Pakistan reach it.

A military conflict between the nuclear-armed neighbours in May overshadowed the subsequent Asia Cup 2025 in which India refused to accept the winners’ trophy from Asian Cricket Council chief Mohsin Naqvi, who is Pakistan’s interior minister.

The teams in the tournament have been divided into five groups of four, with the top two advancing to the Super Eight phase. The top four in that will qualify for the semifinals.

Defending champions India will begin their Group A campaign against the United States in Mumbai on February 7.

Sri Lanka and Australia are in Group B, which also includes Ireland, Zimbabwe and Oman.

England and West Indies, both twice winners, will face first-timers Italy and Asian sides Bangladesh and Nepal in Group C.

New Zealand, South Africa, Afghanistan, Canada and the United Arab Emirates make up Group D.

Four more people have been arrested as part of the investigation into last month’s theft of precious jewellery at the Louvre Museum, the Paris prosecutor’s office says.

Two men, aged 38 and 39, and two women, aged 31 and 40, were arrested on Tuesday. They are all from the Paris region.

Among them is thought to be the last member of a four-man gang that allegedly carried out the daylight heist, according to French media. The other three suspected thieves have already been arrested and charged, officials say.

Police now have up to 96 hours to question them. No trace has so far been found of the stolen jewels – worth €88m (£76m; $102m) – which were taken on 19 October.

Four people have already charged over the heist – three men and a woman, who also live in the Paris region.

A 38-year-old woman was charged earlier this month with complicity in organised theft and criminal conspiracy with a view to committing a crime.

Separately, a man, aged 37, was charged with theft and criminal conspiracy.

These two suspects, who have not been named publicly, have denied any involvement.

Ms Beccuau previously told French news agency Franceinfo said the two were in a relationship and had children together, without giving any further details.

Meanwhile, two men were charged with theft and criminal conspiracy in October after officials said they had “partially recognised” their involvement in the heist.

The heist happened when the group of four men used a stolen vehicle-mounted mechanical lift to gain access to the Galerie d’Apollon (Gallery of Apollo) via a balcony close to the River Seine, Beccuau has previously said.

The men used a disc cutter to crack open display cases housing the jewellery.

The thieves were inside for four minutes and made their escape on two scooters waiting outside at 09:38, before switching to cars.

One of the stolen items – a crown – was dropped during the escape but eight other items of jewellery – including an emerald-and-diamond necklace that Napoleon I gave his second wife, Empress Marie-Louise – were taken.

Beccuau has said the heist was carried out by petty criminals rather than organised crime professionals.

Shortly after the theft, it was revealed by the Louvre’s director that the only camera monitoring the Galerie d’Apollon was pointing away from a balcony the thieves climbed over to break in.

The president of the Louvre, Laurence des Cars, has since admitted the museum had failed in its responsibilities, but denied that security had been overlooked – saying that from the time she took office in 2021 she had been warning constantly of the need for more investment.

Since the incident, security measures have been tightened around France’s cultural institutions.

The Louvre has transferred some of its most precious jewels to the Bank of France following the heist.

The Swedish Navy, the largest surface combatant of which is currently the Visby class corvette, is gearing up to place an order for four frigates. These would be the Swedish Navy’s largest warships since it gave up its last destroyers back in the early 1980s. The planned frigates reflect Sweden’s expanding naval ambitions since joining NATO and are also expected to stress anti-air warfare capabilities, something that’s of growing interest to the Swedish Navy.

Swedish Minister of Defense Pål Jonson said today that a final decision on the four-frigate buy is likely early next year. “We’re looking at what frigates there are that are available, that would also suit our quite ambitious timeline,” Jonson said. He added that the plan was to have two frigates in service “ideally by 2030” and another two by 2035.

The Defense Materiel Administration (FMV), Sweden’s defense procurement organization, has completed a market survey on available frigates, but has yet to make a final decision. Bearing in mind the ambitious timeline, an off-the-shelf design will be selected. The decision to acquire a warship significantly larger than the stealthy Visby class was made last year, at which point a foreign design became the only realistic option. The new vessels will be named the Luleå class.

Jonson was speaking today after a meeting in Stockholm with his French counterpart, Catherine Vautrin, who offered to supply Sweden with a first fully equipped frigate in 2030. This would be a version of the Naval Group’s new Frégate de Défense et d’Intervention (FDI), or defense and intervention frigate, an unorthodox design with an inverted bow, which you can read more about here.

Other items discussed by Jonson and Vautrin included French interest in the Saab GlobalEye airborne early warning and control (AEW&C) aircraft, as well as aid to Ukraine.

The FDI was first formally offered to Sweden last month, and, if selected, it would be built in partnership with the Swedish defense industry, in particular, Saab.

In terms of the role of the new Swedish frigate, Jonson confirmed today that they will have a significant anti-air warfare function, reflecting the nation’s plan to join NATO’s Integrated Air and Missile Defense (IAMD) program. The alliance’s investment in this network has been stepped up in response to Russia’s full-scale invasion of Ukraine, with NATO deploying additional IAMD capabilities to NATO’s eastern flank.

The Swedish Navy is already making efforts to expand its anti-air warfare capabilities with an update to its five Visby class corvettes, which adds the Sea Ceptor, also known as the Common Anti-air Modular Missile (CAMM) — a surface-to-air missile that can engage a wide variety of threats.

The anti-air warfare focus would appear to put the FDI in a strong position for the Swedish requirement. As we have described in the past, the primary anti-air weapon of the French warship is the Aster surface-to-air missile, 16 of which are carried in a pair of eight-cell launchers — later vessels will be able to carry 32 by doubling the number of launchers.

The combat-proven Aster is available in two main versions. The smaller Aster 15 has a range of around 18 miles, while the larger Aster 30 is able to engage targets at more than 75 miles. Recent improvements to the Aster 30 include enhancing its capabilities against anti-ship ballistic missiles (ASBMs), a relatively new type of threat.

The FDI uses a Thales Sea Fire radar to support its air defense mission out to a significant range.

Comparing the Visby class and the FDI, the Swedish design has a displacement of 705 tons and a length of 238 feet 6 inches, while the French warship has a displacement of 4,390 tons and is 400 feet 3 inches long.

In the past, another option for the future Luleå class was expected to be a development of the British Type 31 frigate design, proposed by a partnership of Saab and Babcock. According to an agreement between the two companies, Saab would develop the basic design for the frigate, while Babcock would provide support with engineering, structural design, and auxiliary systems. However, the current status of this collaboration is unclear.

Another likely contender for the Swedish requirement is Spain’s Navantia. This manufacturer offers a variety of frigates that cover a range from just over 2,200 tons displacement to ships above 6,000 tons. Designs include the Spanish Navy’s recently launched F110 class frigate, also known as the Bonifaz class. As you can read about here, this warship is notable for its combination of high-end anti-submarine warfare functions paired with anti-air warfare abilities and its distinctive tall mast, mounting elements of a sophisticated radar system.

The last time that the Swedish Navy operated a surface combatant approaching this kind of size was back in the early 1980s. The Östergötland was the Swedish Navy’s last class of destroyers, originally built in the late 1950s. These had a fully loaded displacement of 2,600 tons and were 367 feet 5 inches long, somewhat smaller than the preceding Halland class, which had a fully loaded displacement of 3,291 tons and a length of 398 feet 11 inches. The last examples of these two classes of destroyers were decommissioned in 1982.

As part of the French drive to export the FDI frigate to Sweden, the first-of-class Amiral Ronarc’h will visit the Swedish port of Gothenburg early next year. France has already secured sales of the warship to Greece, which is buying four, on top of the five planned for the French Navy.

For the Swedish Navy, the primary area of operation has been the Baltic theater, an area of resurgent strategic relevance, as the host to regular and sometimes hostile Russian military activity, maritime, airborne, and also increasingly in the ‘gray zone’ or hybrid warfare.

A new frigate with enhanced anti-air warfare capabilities will be better able to protect itself, other vessels, and even shore areas or islands, against threats from the air. The overwhelming numbers of crewed aircraft, drones, and missiles that Russia could potentially put up in a conflict involving Sweden have been a significant concern even before the country joined NATO.

Already, much of the Swedish Air Force’s mode of operation is based on being best prepared to leverage smaller numbers to deal with a potential large-scale Russian aerial attack. As a result, the Swedish Air Force has long sought to develop innovative technologies and tactics that would allow it, as a much smaller air arm, to be able to put up significant resistance.

The four new frigates should further that ambition, but would also allow operations far outside the Baltic, including into the wider North Atlantic region, reflecting Sweden’s developing military ambitions as it becomes a more established NATO member.

Once it gets its new frigates, the Swedish Armed Forces will be better prepared to face any kind of contingency in the Baltic region or elsewhere, and it will be interesting to see whether they opt for the FDI frigate or a rival design.

Contact the author: [email protected]

Tensions between Afghanistan and Pakistan escalated on Tuesday after the Taliban accused Pakistani forces of air strikes in eastern Afghanistan that killed nine children and a woman. Islamabad has not commented. The bombardments follow a series of recent attacks in Pakistan, which Islamabad attributes to militants operating from Afghan soil. Last month saw the deadliest confrontation between the two neighbors since the Taliban seized power in 2021, with dozens killed in air strikes and ground clashes along the 2,600 km (1,600-mile) border.

Accusations and Counter-Accusations

Pakistan claims that militants, particularly the Tehreek-e-Taliban Pakistan (TTP), are based in Afghanistan and launch attacks into its territory. Recent high-profile attacks include a suicide bombing in Islamabad that killed 12 civilians and bombings targeting paramilitary forces in Peshawar and Waziristan.

The Taliban administration denies sheltering Pakistani militants and says it does not permit Afghan soil to be used for attacks against other nations. A ceasefire signed in Doha in October collapsed after Kabul refused to provide written guarantees against militant activities, leaving Pakistan frustrated.

Who Are the Pakistani Taliban (TTP)?

Formed in 2007, the TTP is a jihadist organization based primarily in northwest Pakistan, drawing ideological inspiration from al-Qaeda. While historically allied with the Afghan Taliban, the TTP has carried out major attacks on markets, schools, military bases, and security forces in Pakistan. Despite repeated military campaigns, Pakistan has struggled to eliminate the group completely.

After the Taliban Took Power in Afghanistan

Initially welcomed by Pakistan in 2021, the Taliban’s return to power has not reduced cross-border threats. Islamabad accuses Afghanistan of harboring TTP fighters and Baloch insurgents seeking independence in western Pakistan. Pakistan also alleges that India is supporting these groups through Afghanistan a claim New Delhi denies.

Implications for the Region and the World

The renewed Afghanistan-Pakistan tensions threaten regional stability in South Asia. Persistent cross-border militancy could destabilize both nations, strain relations with neighboring India, and potentially create a vacuum for other extremist groups. Global powers, including the U.S., China, and the EU, face challenges in balancing security cooperation, counterterrorism efforts, and humanitarian concerns in a region critical for trade, energy routes, and counterterrorism strategy.

Analysis

This situation highlights how state fragility and ungoverned spaces fuel persistent conflict. Pakistan’s security concerns are genuine, but unilateral strikes risk escalating violence and civilian casualties. Meanwhile, the Taliban in Kabul faces the difficult task of balancing governance, legitimacy, and regional diplomacy while being accused of harboring militants. Globally, the crisis underscores the fragility of peace in border regions where militant groups exploit political and geographic fault lines, showing that even well-intentioned interventions can have unintended consequences if not coordinated carefully.

With information from Reuters.

At a UN Security Council meeting, members urged Israel to abide by the ceasefire and open more border crossings to ease Gaza’s deep humanitarian crisis. Palestinians say they are still struggling to access food, water and shelter as aid flows remain far below what is needed.

Eldar Mamedov, a fellow at Quincy Institute, says given the history of Baltic states under Soviet rule, many fear more aggression from Russia if Ukraine is forced to give up land.

About 83,000 women and girls were intentionally killed worldwide last year – 60 percent of them at the hands of partners or relatives.

More than 50,000 women and girls were killed by intimate partners or family members around the world in 2024, the equivalent of one every 10 minutes or 137 per day, according to a new report.

Released to mark the 2025 International Day for the Elimination of Violence against Women on Tuesday, the report by the United Nations Office on Drugs and Crime (UNODC) and UN Women warned that femicide continues to claim tens of thousands of lives each year with “no sign of real progress”.

Overall, 83,000 women and girls were intentionally killed worldwide last year – 60 percent of those deaths were at the hands of partners or relatives.

By way of comparison, just 11 percent of male homicide victims were killed by family members or intimate partners.

The report warns that many killings are preventable, but that gaps in protection, police responses and social support systems leave women and girls at heightened risk of fatal violence.

At the same time, it is thought that the figures are likely an underestimate, due to poor data collection in many countries, survivors’ fear of reporting violence, and outdated legal definitions that make cases difficult to identify.

Experts say economic instability, conflict, forced displacement and limited access to safe housing can worsen the risks faced by women trapped in abusive situations.

“The home remains a dangerous and sometimes lethal place for too many women and girls around the world,” said John Brandolino, acting executive director of UNODC.

He added that the findings underline the need for stronger prevention efforts and criminal justice responses.

Sarah Hendriks, director of UN Women’s policy division, said femicides often sit on a “continuum of violence” that can start with controlling behaviour, harassment and online abuse.

“Digital violence often doesn’t stay online,” she said. “It can escalate offline and, in the worst cases, contribute to lethal harm.”

According to the report, the highest regional rate of femicide by intimate partners or family members was recorded in Africa, followed by the Americas, Oceania, Asia and Europe.

UN Women says coordinated efforts involving schools, workplaces, public services and local communities are needed to spot early signs of violence.

The campaigners also called on governments to increase funding for shelters, legal aid and specialist support services.

The findings were released as the UN’s annual 16 Days of Activism against Gender-Based Violence campaign started.

Rachel Reeves has urged Labour MPs to unite behind her Budget as she vowed to stay on as chancellor in the years ahead.

Speaking to a meeting of Labour’s Parliamentary Party on Monday evening, Reeves warned MPs they must “stick together” if they wanted to win the next election.

The Budget, which is expected to contain tax rises, will be delivered on Wednesday following weeks of speculation.

Reeves said she thought Labour MPs would like 90-95% of her spending plan but warned they would have to accept the tougher measures as well saying: “It’s a package, not a pick-and-mix. You can’t say you like the cola bottles but you don’t like the fruit salad.”

“It all comes together and hangs together as a whole.”

She said her three priorities would be: “Cutting the cost of living, cutting NHS waiting lists and cutting the cost of debt.”

Following the meeting, one Labour MP said the chancellor had been “strong and honest” but another said her pleas for unity had sounded “desperate”.

In the year since the last Budget, Labour MPs have become increasingly critical of Reeves’ judgement.

The Chancellor has been forced to make U-turns on some policies, including cutting the winter fuel payment.

There had also been concerns in the party about suggestions she would use this Budget to raise income tax rates, a move that would have broken the party’s election manifesto promise.

The government now appears to have stepped back from that proposal.

Instead, it could consider extending the freeze on the levels at which people start to pay income tax, meaning more people are drawn into paying more tax on their wages and pensions over time.

The chancellor could also look at a range of smaller measures to raise money including new taxes on high-value homes in England, electric vehicles and gaming companies.

She needs to find more money in order to meet her own rules aimed at reducing debt and borrowing.

Reeves has also suggested she will scrap the two-child benefit cap, which limits the benefits parents can claim for their third child or subsequent children born after 6 April 2017.

Conservative shadow chancellor Mel Stride said he worried the Budget would see “tax on hard- pressed hard-working people being transferred into the benefits system”.

Speaking at a conference on Monday, head of the Confederation of British Industry Rain Newton-Smith urged Reeves not to inflict “death by a thousand taxes” on businesses.

She said the chancellor should have “the courage to take two tough decisions rather than 20 easier ones”.

Liberal Democrat Treasury spokesperson Daisy Cooper accused the government of “rank hypocrisy” over its potential tax plans.

“Rachel Reeves once accused the Conservatives of ‘picking the pockets’ of working people by freezing tax thresholds – now Labour plans to do exactly the same,” she said.

We have gotten two new images of the Chengdu Aircraft Corporation’s second ‘J-36’ heavy tactical jet airframe, which features significant changes over the first. The aircraft first emerged in late October. Along with new inlets and main landing gear, the addition of what appeared to be two-dimensional thrust vectoring across its bank of three engines was highly intriguing. Now we are seeing a rear aspect of this new exhaust configuration that further confirms our original analysis.

You can read our recent report on the new J-36 configuration here and our original deep dive on the J-36 here.

The new images show the J-36 from behind during landing and from directly below. The rear image is the star of the show here, as we can see what appears to be the jet’s three-pack of 2D thrust vectoring nozzles, similar to those found on the F-22. China has been developing this exhaust capability for some time now, but its addition on the J-36 is very interesting.

Generally speaking, thrust vectoring provides additional maneuverability throughout different areas of the flight envelope for a tactical jet, including, in many cases, in the post-stall regime. It also allows for better overall controllability and stability, the value of which is magnified on a highly unstable tailless fast jet design. It can also play a key role when operating at high altitudes, a performance goal that could be very beneficial to the J-36, as we discuss in our large analysis feature. At the same time, it adds weight and complexity to the aircraft, although this likely isn’t a major concern for a jet as large and complex as the J-36. It is also not as efficient as traditional conical exhausts when it comes to thrust output.

The first J-36, which emerged just 11 months ago, had recessed trough-like exhausts, vaguely similar to what was found on the YF-23. There is likely a low-observable (stealth) penalty from some rear aspects when trading the previous configuration for this new one.

The addition of thrust vectoring is a major design departure and clearly points to its advantages outweighing its costs. It also will raise the question, once again, about the intended role of this aircraft and how to define it. We went over this in great depth in our original analysis, but suffice it to say, keeping a certain level of maneuverability is likely seen as beneficial, but thrust vectoring provides other advantages beyond straight agility, as we discussed earlier.

All that being said, we still don’t know definitively if this second aircraft is purely evolutionary, depicting something that is truly a step closer to a final production configuration, or if it is experimental and we could see some of its features exchanged for those of the first model on future iterations.

It’s worth noting that the J-36’s smaller counterpart, the J-XDS, also features similar 2D thrust-vectoring capabilities. It’s additionally possible that the J-35, China’s medium stealth fighter, could one day ditch its serrated round exhausts and adopt 2D thrust vectoring, as well. We have seen such a configuration mocked up at Chinese arms expos.

With the one-year anniversary of the J-36 emerging from the shadows approaching, it’s remarkable just how much we have seen of it and how two prototype/demonstrator aircraft are now in known existence. It and the J-XDS, along with a flood of advanced uncrewed combat aircraft and naval aviation developments, mark 2025 as a truly remarkable year for Chinese military aviation, one that is clearly drawing concerns of potential adversaries.

Contact the author: [email protected]

In a time of great shifts, it is of note that the global development financial system is also at a crossroads and in need of reform for reform. From the articles listed below, I observe four developing themes, whether explicitly or implicitly mentioned. I will describe them below and conclude that these are the four main realities that the new development financial system would need to be shaped around.

First, we see the emergence of a new class of “middle class” emerging markets with a greater stake in the multilateral system, greater global economic connections, a greater desire for agency and voice in engaging with the Global North, and a greater ability to navigate the myriad cross-border economic systems that have evolved in the past 60 years. Let’s broadly generalize these as middle-income countries, including ASEAN, countries in Latin America, Central Asia, parts of the Middle East, and perhaps parts of Africa. For these countries, Alldo Januardy aptly comments: “The Global South is no longer waiting to be included. It is building something of its own—shaped by necessity, grounded in local priorities, and driven by the hard lessons of dependency.” Perhaps it is these countries that are most able and well-suited to take advantage of decentralized funding models with greater autonomy and choice. Financial innovations relevant for these groups of countries include multilateral regional development banks (Setser) or programs of public-private financing (Mundy) and require financial liberalization for them to have more access to existing global capital markets. These countries have the foundations of economic activity and are ready to access a more diverse array of funding mechanisms to fund a more diverse array of activities.

Second, we also note a bifurcation in what used to be lumped together as emerging markets. For poor countries vulnerable to debt, especially if they are also vulnerable to climate change and conflict, we observe a slide backwards in their internal economic capacity. These countries have not been able to withstand the pressures of COVID on their own and in some cases have fallen into distress. Further, it seems that the recent shocks may have so stressed their systems that their rates of growth have been dampened in the medium to longer term. These countries need access to immediate financing and fundamental support. IMF President Kristalina Georgieva says that these countries need $440bn in additional financing over 5 years to prevent further crises. Furthermore, these countries face difficulties as funding for the IMF and WB by developed countries retreats. Ms. Georgieva suggests further contribution to the IMF’s PRGT facility, leveraging up the World Bank balance sheet. Personally, I think targeted support of the type described by The Economist in “The Demise of Foreign Aid Offers an Opportunity”—wherein capital is deployed in targeted areas and projects where governments and UN agencies have coordinating power in relation to global crises like climate change and where there exist positive spillover effects—is more relevant. On the other hand, Makhtar Diop described a new securitization model of combining various EM loans and selling them at a higher credit rating. For these assets, I think such an approach is misguided and risks landing existing asset managers with toxic assets in the future. Many of these countries do not have the economic nor governance capacity to participate in financial markets as a normal member.

Third, China has become the largest bilateral creditor to many developing countries with a different model of lending driven by different priorities. Speaking from knowledge derived outside of this class, its early expansion into the Belt and Road Policy more than a decade ago was driven by an opportunity to offload pressure from the accumulation of massive FX reserves and internal spare capacity in primary and infrastructure industries. Now, those priorities have transitioned to a more transactional, targeted approach targeting specific sectors. Furthermore, Chinese creditors often took on projects that would qualify for participation of traditional Paris Club lenders. All that is to say, there is quite a gap between the Chinese and traditional Paris Club lenders that needs to be bridged. Efforts to do this are already underway through the G20 Common Framework for Debt Treatments. The US desires China to become a “responsible creditor” on its own terms (Crebo-Rediker), which China does not desire to do as it has its own model and priorities. A more cohesive global consensus on global lending will require China’s participation and hence the ability of China and the US-led Paris Club to come to some sort of agreement.

Finally, all these realities are underpinned by the backdrop of the globalization, economic development, and innovation of the last 70 years in the Pax Americana. Economic models and industries are now more numerous and diverse than ever before, with many variations of interlinkages, creating a complex and intricate web of economic relationships. Furthermore, within the financial system itself, technologies like electronic trading, online retail participation, new financial products, and blockchain have made capital more transmutable than ever before. It is no surprise that we are at an exciting crossroad and in need of reform. In fact, the Bretton Woods model has done remarkably well to facilitate and accommodate the changes up to this point! I am inspired by the amount of work that has gone into creating this system and hope that the global community will again find its way forward.

Russian forces have launched a drone and missile attack on the Ukrainian capital, killing at least one person, as officials from Ukraine and the United States sought to rework a plan proposed by Washington to end the war.

In a statement on Tuesday, Ukraine’s State Emergency Service said the overnight attack on Kyiv damaged residential buildings in the Pecherskyi and Dniprovskyi districts.

“In Kyiv, as a result of a night attack, two people were killed, six were injured, and 18 people were rescued, including three children,” the service said.

Another attack on Brovarsky, Bila Tserkva and Vyshgorod districts, hours later, wounded a 14-year-old child, it added.

There was no immediate comment from Russia.

The attack followed talks between US and Ukrainian representatives in Switzerland’s Geneva to thrash out Washington’s so-called 28-point plan, which Kyiv and its European allies saw as a Kremlin wish list.

Ukrainian President Volodymyr Zelenskyy, in his nightly address late on Monday, said the talks in Geneva mean the “list of the necessary steps to end the war can become doable”.

But he said there remained “sensitive issues” that he will discuss with US President Donald Trump

“After Geneva, there are fewer points – no longer 28 – and many of the right elements have been taken into account in this framework. There is still work for all of us to do together – it is very challenging – to finalise the document, and we must do everything with dignity,” he said.

“Ukraine will never be an obstacle to peace – this is our principle, a shared principle, and millions of Ukrainians are counting on, and deserve, a dignified peace,” he added.

No Trump-Zelenskyy meeting scheduled

Trump, too, hinted at new progress.

“Is it really possible that big progress is being made in Peace Talks between Russia and Ukraine??? Don’t believe it until you see it, but something good just may be happening,” the US president wrote earlier on Monday on his Truth Social platform.

At the White House, spokeswoman Karoline Leavitt said there were a couple of points of disagreement remaining, but “we’re confident that we’ll be able to work through those.”

She said Trump wanted a deal as quickly as possible, but there was no meeting currently scheduled between the US president and Zelenskyy.

Trump, who returned to office this year pledging to end the war quickly, has reoriented US policy from staunch support for Kyiv towards accepting some of Russia’s justifications for its 2022 invasion.

US policy towards the war has been inconsistent. Trump’s hastily arranged Alaska summit with Russian President Vladimir Putin in August led to worries that Washington was prepared to accept many Russian demands, but ultimately resulted in more US pressure on Russia.

The latest, 28-point peace proposal again caught many in the US government, Kyiv and Europe off-guard and prompted new concerns that the Trump administration might be willing to push Ukraine to sign a peace deal heavily tilted towards Moscow.

The plan would require Kyiv to cede more territory, accept curbs on its military and bar it from ever joining NATO, conditions Kyiv has long rejected as tantamount to surrender.

It would also do nothing to allay broader European fears of further Russian aggression.

Ukraine’s European allies drew up a counter-proposal which, according to the Reuters news agency, would halt fighting at the present front lines, leaving discussions of territory for later, and include a NATO-style US security guarantee for Ukraine.

A new version of a draft worked on in Geneva has not been published.

Kremlin slams EU proposal

An adviser to Zelenskyy who attended the talks in Geneva told The Associated Press news agency they managed to discuss almost all the plan’s points, and one unresolved issue is that of territory, which can only be decided at the head-of-state level.

Oleksandr Bevz also said the US showed “great openness and understanding” that security guarantees are the cornerstone of any agreement for Ukraine.

He said the US would continue working on the plan, and then the leaders of Ukraine and the US would meet. After that, the plan would be presented to Russia.

German Chancellor Friedrich Merz, speaking to reporters, welcomed the “interim result” of the Geneva talks, saying the US proposal “has now been modified in significant parts”, without details.

Merz added that Moscow must now become engaged in the process.

“The next step must be that Russia must come to the table,” he said in Angola, where he was attending a summit between African and European Union countries. “This is a laborious process. It will move forward at most in smaller steps this week. I do not expect there to be a breakthrough this week.”

The Kremlin said it had yet to see the revised peace plan.

Spokesperson Dmitry Peskov added there was no plan for US and Russian delegations to meet this week, but the Russian side remained “open for such contacts”.

Yuri Ushakov, Putin’s foreign affairs adviser, said the plan the Kremlin had received before the Geneva talks had many provisions that “seem quite acceptable” to Moscow. But he described European proposals “floating around” as “completely unconstructive”.

Countries supporting Kyiv – part of the “coalition of the willing” – are meanwhile due to hold a video call on Tuesday following the Geneva talks.

Turkiye also said it hopes to build bridges between Russia and Ukraine.

Turkish President Recep Tayyip Erdogan’s office said he spoke to Putin by telephone and told him Ankara will contribute to any diplomatic effort to facilitate direct contact between Russia and Ukraine.

Erdogan “stated that Turkiye will continue its efforts for the termination of the Russia-Ukraine war with a fair and lasting peace”, his office said.

Reports say doctors diagnosed the woman with critically low blood sugar, likely leading to her weakened condition.

A woman in Thailand has shocked staff at a Buddhist temple when she started moving in her coffin after being brought in for cremation.

Wat Rat Prakhong Tham, a temple in the province of Nonthaburi on the outskirts of the capital, Bangkok, posted a video on its Facebook page, showing a woman lying in a white coffin in the back of a pick-up truck, slightly moving her arms and head, leaving temple staff bewildered.

Pairat Soodthoop, the temple’s general and financial affairs manager, told The Associated Press news agency on Monday that the 65-year-old woman’s brother drove her from the province of Phitsanulok to be cremated.

He said they heard a faint knock coming from the coffin.

“I was a bit surprised, so I asked them to open the coffin, and everyone was startled,” he said.

“I saw her opening her eyes slightly and knocking on the side of the coffin. She must have been knocking for quite some time.”

According to Pairat, the brother said his sister had been bedridden for about two years, when her health deteriorated and she became unresponsive, appearing to stop breathing two days ago.

The brother then placed her in a coffin and made the 500km (300-mile) journey to a hospital in Bangkok, to which the woman had previously expressed a wish to donate her organs.

The hospital refused to accept the brother’s offer as he didn’t have an official death certificate, Pairat said. His temple offers a free cremation service, which is why the brother approached them on Sunday, but was also refused due to the missing document.

The temple manager said that he was explaining to the brother how he could get a death certificate when they heard the knocking. They then assessed her and sent her to a nearby hospital.

The abbot said the temple would cover her medical expenses, according to Pairat.

According to the Thailand News website, doctors later diagnosed the woman with severe hypoglycaemia, or critically low blood sugar, and confirmed she had not experienced cardiac or respiratory failure.