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WHO declares Ebola outbreak in DRC a global health emergency | World Health Organization News

An Ebola outbreak caused by the rare Bundibugyo strain has killed dozens in Democratic Republic of the Congo and is spreading into Uganda, raising fears of regional transmission. Health officials say instability and shared borders are complicating containment efforts as the World Health Organization declares a global health emergency.

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Passengers ‘entitled to this’ if flights are cancelled over ‘global health emergency’

Travellers have been told ‘not to panic’ if they have flights planned for the summer

Flight rule change to stop last minute cancellations

Many travellers are worried that their summer flights may be at risk as the jet fuel supply disruptions have left some airlines cancelling and rescheduling flights. Now, hantavirus has also trigger some anxiety as passengers fear they may be facing the same disruptions they experienced during the Covid pandemic.

While health experts have been assured the public that hantavirus is “not like Covid”, according to BBC’s Dr Xand, a travel expert explained exactly what rights you have if your flight is cancelled for these reasons.

Hannah Mayfield explained: “If your flight is cancelled because of a global health emergency or another major disruption outside the airline’s control, passengers are still entitled under UK261 to either a full refund or alternative flight.

“That obligation remains firmly with the airline, even in extraordinary circumstances. What may not apply, however, is additional compensation.

“We saw significant confusion around this during the coronavirus pandemic.”

The travel money expert with specialist travel insurance comparison website PayingTooMuch, urged people to learn the “crucial” distinction between these two as some travellers mistakenly believe that if they aren’t entitled to compensation then they aren’t entitled to anything.

READ MORE: Travel expert issues EES update for Greece, Portugal, and GermanyREAD MORE: Ryanair plane diversion leads to ‘no fly’ warning

Ultimately, the expert assured everyone with upcoming flights: “The key message for travellers this summer is not to panic, but to understand where responsibility sits before problems arise. Knowing your rights in advance makes it much easier to act quickly and avoid unnecessary stress or expense if your faced with disruptions.”

She continued: “Airlines are responsible for passenger rights linked to the flight itself, including refunds, rebooking, and assistance during disruption.

“Travel insurance, by contrast, is there to protect against wider personal financial risks such as cancellation due to illness, emergency medical treatment abroad and repatriation as well as things like baggage lost items and in some cases irrecoverable costs that cannot be recovered from airlines or travel providers depending on the cover.”

Checking your travel insurance and how you paid for the flight before you leave can also add some extra protection. The expert urged: “It’s equally important to read the travel insurance policy carefully before travelling.

“Many people only discover exclusions relating to pandemics, wider disruption, or government travel advisories when they come to make a claim.”

Hannah explained that if you used a credit card to pay for your flight, Section 75 of the Consumer Credit Act can “provide valuable additional protection in some instances”. While those who paid with debit cards may have “less robust” protections.

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Israel deports 2 activists detained from Global Sumud Flotilla

Thiago Avila, a member of the Global Sumud Flotilla, arrives to attend his trial for a remand extension at the Ashkelon Magistrate’s Court in Ashkelon, Israel, on May 3. Avila and Saif Abukeshek were deported on Sunday after Israel’s foreign ministry said it concluded an investigation into the two. Photo by Abir Sultan/EPA

May 10 (UPI) — Israel deported two activists who were part of the Global Sumud Flotilla attempting to deliver aid to Gaza more than a week ago.

Saif Abu Keshek and Thiago Avila were deported on Sunday after Israel’s foreign ministry said it concluded an investigation into the two. It had suspected Abu Keshek, a dual citizen of Spain and Sweden who is of Palestinian origin, of being affiliated with a terrorist organization and suspected Avila of being involved in criminal activity.

The foreign ministry confirmed on social media that Abu Keshek and Avila were deported on Sunday.

Abu Keshek and Avila were part of the flotilla of 22 boats and nearly 175 activists that was intercepted off the Greek island Crete more than a week ago. Armed Israeli naval troops boarded the vessels, destroyed their engines and blocked communications, preventing the flotilla from reaching Gaza, more than 700 miles away.

Hadeel Abu Salih, an attorney who represented Abu Keshek and Avila during their detention, called the detention of them and other activists unlawful and a “sham proceeding with no legal basis, intended to punish them for attempting to challenge Israel’s illegal blockade on Gaza.”

Abu Salih is part of the rights group Adalah. It alleges that they were subject to “psychological abuse” during their detainment.

The Global Sumud Flotilla released a statement on Saturday calling for sanctions against Israel for the detainment of activists.

“We demand explanations from the European Union, and specifically, Greece, after days of silence and complicity, and we call for immediate sanctions against Israel for this illegal abduction and for the constant violations of international law and human rights of the Palestinian people,” the Global Sumud Flotilla said in a statement.

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Pope Leo Urges Global Leaders to Ease Tensions After Meeting Rubio, Calls for End to Violence and Arms Trade

Pope Leo has called on global leaders to reduce international tensions and turn away from violence, delivering an emotional appeal during a visit to Pompei, Italy, on Friday. His remarks came just one day after he met U.S. Secretary of State Marco Rubio at the Vatican, where both sides discussed efforts to improve strained relations between Washington and the Holy See.

The meeting took place against a politically sensitive backdrop, with U.S. President Donald Trump having recently criticized the Pope over his comments on the Iran conflict. Pope Leo, the first U.S.-born pontiff and former Cardinal Robert Prevost, has increasingly spoken out on global conflicts in recent weeks after initially maintaining a relatively low public profile following his election in May 2025.

Speaking to worshippers in Pompei, the Pope urged prayers that world leaders would be inspired to “calm rancour and fratricidal hatreds” and to take responsibility for reducing global violence. He also warned against becoming desensitized to images of war, and criticized what he described as an international system that often prioritizes the arms trade over human life.

Why It Matters

The Pope’s intervention highlights the growing moral and diplomatic role of the Vatican at a time of heightened global instability, particularly amid ongoing tensions involving Iran, the United States, and wider geopolitical rivalries. His criticism of the global arms economy directly challenges dominant security-driven foreign policy approaches, especially in Western capitals.

As the spiritual leader of more than 1.4 billion Catholics worldwide, Pope Leo’s statements carry significant symbolic and diplomatic weight. His increasingly vocal stance on war and governance also places him in a rare position of open tension with major political actors, including the U.S. administration.

What’s Next

The Vatican is expected to continue engaging diplomatically with U.S. officials despite emerging tensions, particularly following the Rubio meeting. Pope Leo is likely to maintain his public messaging on peace, conflict prevention, and criticism of the global arms trade, reinforcing the Holy See’s traditional role as a moral voice in international affairs. At the same time, reactions from Washington and other governments may further shape the evolving tone of Vatican–state relations in the coming months.

With information from Reuters.

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Major airline owner warns of ‘global jet fuel restrictions’ if Iran war continues

JET fuel restrictions could hit airlines on a global scale, a major airline owner has warned.

International Airlines Group (IAG), who owns British Airways, Iberia and Aer Lingus, initially said that most of its airlines will unaffected this summer.

British Airways passenger aircraft at London Heathrow Airport.
IAG, who owns airlines like British Airways, has warned of restrictions if the war continues Credit: AFP or licensors

However, they warned that if the crisis continues, shortages will result in restrictions across the globe.

They said: “If the current conflict continues to restrict flows of both crude oil and jet fuel from the Middle East, there is the potential for supplies of jet fuel to be restricted on a global basis.

“We are engaging with governments in each of our home markets as well as with the EU to ensure that the industry is getting the support it needs to navigate this situation.”

IAG has said they expect their profit to be lower than anticipated. It also expects spend more than £1.72billion extra on fuel costs that previously predicted.

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FINAL CALL

All of the airlines that have been forced to close this year


FUEL FEAR

All the airlines that have cancelled flights amid jet fuel shortage holiday fears

The closure of the Strait of Hormuz since March has resulted in fears of fuel shortages, and caused airlines to start hiking prices.

Some airlines, such as Lufthansa, Scandinavian Airlines and Cathay Pacific, have already reduced their flights scheduled for the upcoming months in an attempt to avoid cancellations caused by shortages.

Other airlines like Air France and Virgin Atlantic have already increased the cost of flights.

Despite the warnings, UK airlines have said they are not expecting to be affected by cancellations this summer.

Tour operators including Jet2 and TUI have said they are operating a full schedule as planned.

And IAG said that 70 per cent of the company has hedged fuel for the rest of 2026.

Here are all the airlines that have cancelled flights due to the jet fuel crisis.

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China tightens drone rules despite global industry dominance

A man talks to the vendor in a DJI drone manufacturer store in Shanghai, China. File. Photo by ALEX PLAVEVSKI / EPA

May 2 (Asia Today) — China has begun tightening regulations on its fast-growing drone industry, prompting concerns that the government may be undermining one of its most competitive global sectors.

Recent reports from Chinese media outlets, including the New Beijing News, indicate that China holds a commanding position in the global drone market, with an estimated market share of at least 70%. Industry leader DJI dominates both domestic and international markets, facing limited competition even as Taiwan makes inroads in Europe.

Despite this strong position, new regulations took effect Thursday in Beijing, effectively designating much of the capital as a no-drone zone. Under the new municipal ordinance on unmanned aerial vehicle management, the transport, sale, rental and operation of drones within the city have been broadly restricted.

The measures have already led to store closures. DJI flagship outlets in areas such as the 798 Art District in Beijing’s Chaoyang district have shut down, in some cases under pressure from authorities.

Officials say the move reflects growing concerns over national security and public safety, as drones are increasingly viewed as potential threats in sensitive areas. Beijing has previously imposed temporary flight bans on low, slow and small aerial objects during major political events, a policy that now appears to be expanding into a more permanent framework.

Analysts say the Beijing regulations could serve as a model for broader nationwide controls. If expanded, such measures may significantly weaken China’s dominance in the global drone industry and could even erode its competitive edge.

Industry insiders have expressed concern that excessive regulation could harm a key growth sector, with some privately warning that China risks damaging its own technological leadership.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260502010000045

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K-pop’s BTS comeback tour rallies South Korea’s global ‘soft power’ drive | Arts and Culture News

Seoul – Shekinah Yawra had no other option but to spend the night at a South Korean jjimjilbang, a 24-hour bathhouse, after every hotel near central Seoul sold out in late March.

But sleep was secondary for the 32-year-old Filipino who had made her way to Seoul’s Gwanghwamun Square at 7am to secure a spot in a crowd that city officials estimated would grow to hundreds of thousands.

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All this was for a glimpse at the seven-member K-pop supergroup BTS, who returned to the stage on March 21 after almost four years away from the limelight for their staggered, mandatory military service.

Though she failed to secure one of 22,000 free tickets for BTS’s first return concert in the square, Yawra was still ecstatic to stand on the sidelines and watch the concert live on a big screen set up for the occasion.

“We all came just for this,” she told Al Jazeera, recounting how friends had flown in from the Philippines for a single night to catch the concert.

Worldwide, more than 18.4 million viewers tuned in for the Netflix livestream of the concert.

FILE PHOTO: Kpop group BTS perform during ‘BTS The Comeback Live Arirang’ concert in central Seoul, South Korea, March 21, 2026. REUTERS/Kim Hong-ji/Pool EDITORIAL USE ONLY./File Photo
Kpop group BTS perform during ‘BTS The Comeback Live Arirang’ concert in central Seoul, South Korea, March 21, 2026 [Kim Hong-ji/Pool/Reuters]

With an estimated 30 million fans worldwide – who refer to themselves as the BTS ARMY – the K-pop group is the most visible symbol of “Hallyu”, or the “Korean Wave”, and the global surge of interest in South Korean popular culture and the financial revenues being generated as a result.

In late March, BTS’s 10th studio album, Arirang, topped the charts in the United States, Japan and the United Kingdom, the world’s three largest music markets. The group’s upcoming world tour is expected to generate more than $1.4bn in revenue across more than 80 shows in 23 countries.

Domestically, inbound tourist numbers for the first 18 days of March rose 32.7 percent from the previous month, according to Ministry of Justice data, as the return concert approached and hotel prices surged across central Seoul amid the demand for rooms.

In the week leading up to the concert, sales of BTS merchandise – from BTS glow sticks to blankets – surged 430 percent at the Shinsegae Duty Free retail outlet in central Seoul, the company said.

Over the concert weekend, revenues also rose 30 percent at the city’s Lotte Department Store and 48 percent at Shinsegae overall, compared with the same March weekend a year earlier, in 2025.

Fans of Kpop group BTS cheer ahead of 'BTS The Comeback Live Arirang' concert as they wait near the concert venue, in central Seoul, South Korea, March 21, 2026. REUTERS/Kim Hong-ji
Fans cheer before the BTS The Comeback Live Arirang concert as they wait near the concert venue, in central Seoul, South Korea, on March 21, 2026 [Kim Hong-ji/Reuters]

As far back as 2022, the Korea Culture and Tourism Institute (KCTI) – a government-sponsored think tank and research organisation – estimated that a single BTS concert in Seoul could generate up to 1.2 trillion won ($798m) in overall economic impact.

KCTI researcher Yang Ji-hoon told Al Jazeera that a sample study of the crowd at the BTS comeback event at Gwanghwamun Square highlighted the uniqueness of fandom-driven tourism. More than half of those at the concert were foreign visitors and many required long-haul travel to attend.

“In Europe and the United States, travel tends to be concentrated within its own regions,” Yang said.

“So, for people to overcome such travel barriers and come to South Korea, it usually requires more than just ordinary motivation or typical spending – it’s not something that happens easily,” he said.

K-pop’s transition to the global mainstream

The scale of BTS’s return to the entertainment world reflects a broader state-backed strategy.

When music promoter Hybe requested Seoul city support for the Gwanghwamun square comeback concert, authorities approved it on public-interest grounds, treating the event as a showcase of national cultural influence.

Almost befitting an official event, more than 10,000 state personnel were deployed for security, logistics and crowd control.

According to data retrieved by South Korean publication Sisain, through a public information disclosure request to the Seoul government, close to 130 million won ($87,400) of city funds were spent as part of logistics for the comeback concert.

South Korean government support for BTS has a precedent.

As members of the boyband approached South Korea’s mandatory military service age, policymakers debated special exemptions for members of BTS, which was estimated to have generated $4.65bn annually to the country’s economy.

After BTS’s forthcoming concerts in Mexico City sold out in just 37 minutes, Mexican President Claudia Sheinbaum urged South Korea’s President Lee Jae Myung to “bring the acclaimed K-pop artists more often”, noting nearly one million fans in Mexico had attempted to secure 150,000 tickets.

South Korea’s cultural influence is also extending beyond music.

South Korea’s cosmetics exports surpassed $11bn last year, according to global accountancy firm PricewaterhouseCoopers (PwC), overtaking France in cosmetics shipments to the US, while South Korean food and agricultural exports reached a record $13.6bn, according to data from the Ministry of Agriculture, Food and Rural Affairs.

KCTI researcher Yang described the growing interest as a phase of “transition to the global mainstream”, where South Korean products are internationally recognised and content output is measured against worldwide benchmarks such as the Billboard charts and the Academy Awards.

He also warned that structural reform is now essential to keep pace with the wave of interest in South Korea.

“As the industries expand in scale, they must also evolve in its underlying systems, infrastructure, and workforce,” he said.

“Rather than focusing solely on direct financial support, future governmental policies should move toward strengthening foundational conditions – such as improving labour environments, addressing unfair practices, building relevant infrastructure, and establishing more robust statistical and data systems,” he said.

Politicians appear to be paying attention.

During his election campaign last year, President Lee framed the next phase of cultural expansion as “Hallyu (Korean Wave) 4.0”, with promises to grow the sector into a 300 trillion won ($203bn) industry with 50 trillion won ($34bn) in exports.

In line with this vision, the government set the budget to bolster “K-content”, support the “pure” arts sector and strengthen the overall culture-related fields at a record 9.6 trillion won ($6.5bn) — reflecting the president’s view of the cultural sector as a strategic national industry rather than merely a consumer market.

South Korea’s strategy appears to be paying off.

South Korea now ranks 11th globally in “soft power”, according to Brand Finance’s Global Soft Power Index, placing the country as both “influential in arts and entertainment” and “products and brands the world loves”, just behind the US, France, the United Kingdom and Japan.

The darker side of K-pop: Pressure to become a perfect idol

Amid its global success, the darker side of the K-culture industry has received more scrutiny.

Mega-promoter Hybe has been embroiled in a prolonged dispute with K-pop’s New Jeans, a band considered to be a potential heir to BTS and their all-female colleagues Blackpink. The highly public legal dispute that started in 2024 highlights industry tensions over creative control and artist autonomy.

Since the early 2000s, K-pop has also grappled with the legacy of “slave contracts”, or highly restrictive agreements limiting artists’ freedom. Although reforms by the Fair Trade Commission have improved protections for performers, contractual obligations in the K-pop industry are exacting on new performers and their strict work routines have long been documented.

From their trainee years, aspiring idols endure gruelling schedules that involve long workdays and little sleep.

Many top stars often face contractual restrictions on socialising, using their phones or dating. They are also typically limited in what they can say publicly, relying on agency-managed messaging to communicate with fans and the media.

While the rise of social media and other online platforms has opened new avenues for more direct expression and interaction in recent years, concerns over burnout and depression have continued to shadow the industry, with several high-profile stars taking their own lives.

Beauty standards associated with the K-culture genre have also become another flashpoint for controversy.

A 2024 report by South Korean economy news site Uppity found 98 percent of 1,283 respondents born between 1980 and 2000 viewed physical appearance as among the most desirable “social capital” an individual can possess.

Nearly 40 percent of respondents in the survey had undergone cosmetic procedures, while more than 90 percent held neutral or positive attitudes regarding undergoing medical procedures to enhance beauty.

According to the International Society of Aesthetic Plastic Surgery, South Korea has the world’s highest rate of procedures, with 8.9 per 1,000 people compared with 5.91 per 1,000 people in the US and just 2.13 per 1,000 in neighbouring Japan.

 

Yoo Seung-chul, a professor of media studies at Ewha Womans University in Seoul, said that K-culture has reinforced the normalising of beauty as a significant metric of personal and social value.

“K-culture has reinforced systems and structures around self-expression,” Yoo told Al Jazeera.

“With the rise of webtoons that incorporate themes like plastic surgery, there has been a noticeable reduction in the stigma towards going under the knife among younger audiences in their teens and early twenties,” Yoo said, explaining that popular plastic surgery platforms such as Unni have further normalised the trend by connecting people to clinics and reviews of these clinics and their surgeons.

At the same time, globalisation has reshaped the K-culture industry itself. Many new K-pop acts now include international members to broaden appeal.

Hybe has expanded this strategy through its US subsidiary, Hybe America, producing globally oriented groups like Katseye, which only has one South Korean member in its six-member girl group.

The shift has prompted debate.

Even BTS’s latest album Arirang – a nod to South Korea’s most iconic folk song – has divided fans over its use of English lyrics and foreign producers.

“K-content is being designed with global audiences in mind from the outset. In film, there has been a noticeable rise in genres like horror and science fiction, which are easier to export internationally,” Yoo said.

“This global orientation is also reflected in K-pop agencies recruiting foreign members for idol groups,” he said.

But international audiences do not always prefer highly globalised versions of Korean content, Yoo said, adding, in fact, that many are drawn to K-pop’s “sense of locality”.

As audiences increasingly seek authenticity, Yoo argues the industry faces a defining challenge.

“Industries and companies need to figure out how to preserve a sense of local identity while effectively marketing to global audiences,” Yoo added.

“Striking that balance will be crucial in shaping the next phase of Korea’s cultural exports.”

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Somalia shapes its own destiny in global security forums | Opinions

In international politics, the platforms a country sits on often matter as much as what it says. For decades, Somalia was largely the subject of global security discussions, rarely a decisive participant in them. Today, that reality is changing in ways that carry symbolic weight and practical consequences.

Somalia’s recent election to the African Union Peace and Security Council (AU PSC), alongside its membership in the United Nations Security Council (UNSC), marks a turning point in its diplomatic trajectory. For quite some time, Somalia was merely being discussed in the world’s most influential security forums. It is now shaping the agenda on the table.

This shift reflects more than a procedural achievement. It signals the maturity of Somalia’s diplomatic and security institutions, and the steady rebuilding of its international credibility after decades of conflict and state fragility.

For much of the past three decades, decisions affecting Somalia’s security were often made in rooms where Somali voices were either absent or marginal. External actors debated intervention strategies, sanctions regimes, peacekeeping mandates, and humanitarian responses, while Somalia struggled with internal instability.

This membership in the UNSC and AU PSC changes that dynamic fundamentally. These bodies are not symbolic; they make binding decisions, adopt resolutions, authorise peacekeeping operations, and shape international legal frameworks. For Somalia, this may seem something simple, but its impact is profound. Somalia is now part of the process that determines policies affecting its own security and development.

That participation strengthens state-building in several ways. It reinforces institutional capacity within Somalia’s foreign policy apparatus, promotes transparency and accountability through engagement with multilateral norms, and aligns Somalia more closely with international legal and diplomatic standards.

Somalia is transitioning from being a recipient of international decisions to becoming a contributor to them. Somalia’s role on these councils also carries representational significance beyond its own borders.

As a member of the UNSC and AU PSC, Somalia now occupies a rare diplomatic position. It simultaneously represents the interests of the African continent, the Arab and Muslim world, and the least developed countries (LDCs). The concerns of these categories of states have often been overshadowed by the priorities of more powerful nations. Somalia now stands for them.

Somalia’s own first experience in rebuilding institutions after conflict, managing complex security transitions, and balancing sovereignty with international cooperation enables it to advocate not only for itself, but also for broader principles: Inclusive peace processes, sustainable development approaches to security, and equitable participation in global decision-making.

Peace in the world, peace at home

President Hassan Sheikh Mohamud’s 2022 political manifesto, “Somalia at peace with itself, and at peace with the world”, is increasingly reflected in these recent memberships. This vision is proving effective, as Somalia’s participation in global peace decision-making demonstrates a growing alignment between its external engagements and internal stabilisation efforts.

The seats at the UNSC and AU PSC will directly reinforce Somalia’s state-building process. Active involvement in shaping international peace also reflects and supports the way peace and security agendas are being handled domestically.

A defining moment in 2026

The year 2026 represents a rare convergence of opportunity. Somalia’s simultaneous presence at the AU PSC and UNSC provides a diplomatic platform unmatched in its recent history. This dual role should enable it to act as a bridge between regional and global security frameworks. It can ensure that Somalia’s security priorities are reflected in the AU decision, and forwardly, that African priorities are reflected in global resolutions. It can also translate international commitments into regional actions that qualify for alignment with local contexts.

This not only affects diplomacy and policy discussions but offers an opportunity to advocate for real change that directly affects the daily lives of Somalis. Such issues may include counterterrorism, stabilisation support, humanitarian access, development financing, climate security, and mechanisms for inclusive politics. By shaping the content and direction of relevant resolutions, Somalia can help align international commitments more closely with national priorities.

A future shaped by participation

With greater influence comes greater responsibility. Membership in these councils demands consistency and adherence to international norms. Somalia is now ready to navigate these complex diplomatic landscapes, balancing national interests with collective global security obligations. And it is now capable of maintaining credibility through constructive engagement, principled positions, and reliable partnerships.

With Somalia now seemingly committed to momentum on these fronts, its growing international stance will become self-reinforcing. Each diplomatic success will strengthen national institutions, which in turn will enhance future influence.

Somalia’s presence at the highest levels of global and regional security governance marks a significant milestone in its long journey towards recovery and stability. It reflects years of diplomatic effort, institutional rebuilding, and gradual restoration of international trust. It also signals a future in which Somalia is increasingly defined not by crisis, but by stability.

For a country that once stood on the margins of global decision-making, this transformation is both historic and hopeful. It signals a shift from isolation to engagement, from being acted upon to helping shape outcomes.

For young Somali generations who grew up hearing that Somalia could not advance, these diplomatic achievements offer a different narrative. They inspire pride, restore confidence, and help rebuild trust in the nation’s future.

That challenge lies ahead. But after a period of turmoil, Somalia is well positioned to meet it, not as a passive observer, but as an active shaper of its own destiny. This is also part of the broader Somalia policy on defence diplomacy, founded on global collaboration and mutual interdependency.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.

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Israel seizes Global Sumud Flotilla boats 1,000km away from Gaza | Gaza

NewsFeed

Israeli forces have intercepted around a dozen Gaza-bound aid boats from the Global Sumud Flotilla in international waters near the Greek island of Crete, more than 1,000km from Israel. Organisers call it an illegal attack on civilians in international waters.

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Israel has begun intercepting Gaza-bound Global Sumud Flotilla aid boats | Gaza

NewsFeed

Organisers of a Gaza-bound aid mission say their vessels are being intercepted by Israeli military speedboats in Greek waters west of Crete, more than 1,000km from Israel. Crew members of the Global Sumud Flotilla say communications have been jammed and an SOS issued.

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America Replaces OPEC as Global Oil Shock Absorber

The ongoing Iran war has reshaped global energy dynamics, shifting influence away from OPEC toward the United States. Traditionally, OPEC and key producers like Saudi Arabia acted as “swing suppliers,” adjusting output to stabilize markets.

However, disruptions caused by the closure of the Strait of Hormuz have left millions of barrels stranded, limiting OPEC’s ability to respond and opening space for the United States to take on that stabilizing role.

Collapse of OPEC’s Leverage

The near shutdown of Gulf energy routes has forced major producers to cut output significantly. Even Saudi Arabia’s alternative export routes have proven insufficient to offset the scale of disruption.

This has weakened OPEC’s traditional power, which relied heavily on spare production capacity to manage supply shocks and influence prices.

Rise of U.S. Energy Dominance

The United States has stepped in decisively, leveraging its position as the world’s largest oil producer. Since surpassing both Saudi Arabia and Russia in output in 2018, the U.S. has built unmatched capacity to influence global markets.

Exports have surged to record levels, with both crude and refined products flowing to regions hit hardest by supply shortages, particularly in Asia. This rapid response has helped cushion the global economy from a deeper energy crisis.

Strategic Tools Beyond Production

Washington’s influence extends beyond production alone. The government has released oil from its Strategic Petroleum Reserve, providing an additional buffer against supply shocks.

It has also used sanctions policy as a flexible tool, selectively easing restrictions on Russian and Iranian oil to increase global supply when needed, while tightening measures to maintain geopolitical pressure.

Economic and Political Impact

For U.S. producers, the crisis has generated substantial financial gains through higher export revenues. At the same time, Washington’s actions have helped stabilize global markets, reinforcing its role as a central player in the energy system.

However, these moves carry political risks, including potential contradictions between economic goals and foreign policy objectives.

Limits of U.S. Power

Despite its growing influence, the United States cannot fully replicate OPEC’s traditional role. Unlike centralized producers, the U.S. oil industry operates within market constraints, limiting the government’s ability to directly control output.

Policies such as export restrictions could theoretically impact global prices, but would also risk damaging domestic production systems and relations with international partners.

Analysis

The Iran war has accelerated a structural shift in global energy power. The United States has effectively become a “swing supplier,” not through coordinated production cuts like OPEC, but through a combination of market scale, strategic reserves, and policy flexibility.

This transformation highlights a new model of energy influence, where rapid responsiveness and financial depth replace centralized control. While OPEC remains relevant, its ability to dominate global supply dynamics has been significantly weakened under current conditions.

At the same time, U.S. dominance introduces new complexities. Balancing domestic political pressures, international alliances, and market stability requires careful calibration. The use of sanctions as a supply management tool also raises questions about long term consistency in foreign policy.

Ultimately, the shift signals a more fragmented and dynamic energy landscape. The United States may not control the market in the traditional sense, but its ability to shape outcomes quickly and at scale makes it the most influential actor in the current crisis.

With information from Reuters.

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Global hunger report warns of rising malnutrition and famine risks | Infographic News

Famine was confirmed in two places in 2025 – areas of the Gaza Strip and Sudan – the first such dual confirmation since formal famine reporting began, according to the Global Report on Food Crises (GRFC) 2026.

The annual report, produced by a coalition of 18 humanitarian and development partners, found that acute food insecurity remained widespread in 2025.

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Across 47 countries and territories experiencing food crises, 22.9 percent of their populations – or about 266 million people – experienced acute food insecurity last year, a marginal rise from 22.7 percent in 2024 but nearly double the 11.3 percent recorded in 2016.

INTERACTIVE_FAO_GLOBAL_REPORT_2025_APRIL23_2026-02-1777011588

The proportion of analysed populations facing acute hunger has now stayed above 20 percent every year since 2020. In absolute terms, the number of people affected has grown from 108 million in 2016 to 265.7 million in 2025, having peaked at 281.6 million in 2023.

The GRFC cautioned that the slightly lower headline figure compared with 2024 mainly reflects a reduction in the number of countries covered – from 53 to 47 – rather than any real decline in needs.

 

Famine, catastrophe and emergency

Famine – the most extreme classification under the hunger-monitoring Integrated Food Security Phase Classification (IPC) system – was confirmed in parts of the Gaza Strip and Sudan in 2025. The risk of famine remained in other areas of Gaza, Sudan and South Sudan, and those projections extended into 2026.

According to the IPC, famine is when:

  • At least 20 percent of households face extreme food shortages.
  • Acute malnutrition affects more than 30 percent of the population.
  • The death rate due to starvation or hunger-related causes exceeds two deaths per 10,000 people per day.
INTERACTIVE - Famine Gaza measurement
(Al Jazeera)

Six countries and territories had populations facing “catastrophic conditions”, or Phase 5, the highest level in the IPC’s classification of food insecurity. They numbered 1.4 million people, a more-than ninefold increase since 2016.

The Gaza Strip was the worst affected, with 640,700 people facing famine conditions, equivalent to 32 percent of its population, the highest share recorded globally. Sudan followed with 637,200 people, or 1 percent of its population.

Four other countries recorded catastrophic food shortages among specific groups of people: South Sudan – 83,500 (1 percent of the population), Yemen – 41,200 (0.1 percent), Haiti – 8,400 (0.1 percent) and Mali – 2,600 (0.01 percent).

Additionally, more than 39 million people in 32 countries were in Phase 4, or emergency conditions, representing 3.8 percent of the population analysed, a marginal increase from 2024.

INTERACTIVE_FAO_GLOBAL_REPORT_2025_APRIL23_2026-01-1777011625

Conflict remains the main driver of hunger

Conflict and violence were the primary drivers of acute food insecurity in 19 countries where 147.4 million people were affected. They represented more than half of those facing acute hunger globally.

Weather extremes were the primary driver in 16 countries, affecting 87.5 million people, while economic shocks led in 12 countries, with 29.8 million people affected.

Against that backdrop, humanitarian and development financing for areas facing food crises declined in 2025, falling back to levels last seen in 2016-2017, the report said.

As for 2026, the report said that based on a partial picture as of March, severity levels remain critical in multiple contexts. It added that the escalation of conflict in the Middle East exposes food-crisis countries to direct and indirect risks of global agricultural and food market disruptions.

A generation of malnourished children

An estimated 35.5 million children were acutely malnourished in 2025 across 23 countries experiencing nutrition crises, including just under 10 million with severe acute malnutrition, the most life-threatening form.

A further 25.7 million children suffered from moderate acute malnutrition. About 9.2 million pregnant and breastfeeding women were also acutely malnourished across 21 countries with available data.

Interactive_WorldFoodDay_October16_2025-01-1760613556
(Al Jazeera)

Displacement is concentrated in food-crisis countries

The number of forcibly displaced people in the 46 countries covered fell slightly in 2025 to 85.1 million.

About 62.6 million of them were internally displaced across 34 countries, and 22.5 million were refugees and asylum seekers in 44 countries.

Without a sustained push to address the structural drivers of hunger, the world’s most fragile countries will continue to bear a disproportionate share of the global hunger burden well into 2026, the report concluded.

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China’s DeepSeek unveils latest models a year after upending global tech | Technology News

Chinese startup says DeepSeek-V4-Pro beats all rival open models for maths and coding.

China’s DeepSeek has unveiled the latest versions of its signature artificial intelligence-powered chatbot, a year after its flagship model sent shockwaves through the global tech scene.

The Chinese startup launched preview versions of DeepSeek-V4-Pro and DeepSeek-V4-Flash on Friday as it touted its ability to go toe-to-toe with US rivals such as OpenAI and Google.

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Like DeepSeek’s previous chatbots, V4-Pro and V4-Flash follow an open-source model, meaning developers are free to use and modify the source code at will.

DeepSeek-V4-Pro beats all rival open models for maths and coding, and trails only Google’s Gemini 3.1-Pro, a closed model, for world knowledge, DeepSeek said in an announcement on social media.

The “pro” version’s performance falls only “marginally short” of OpenAI’s GPT‑5.4 and Gemini 3.1-Pro, “suggesting a developmental trajectory that trails state-of-the-art frontier models by approximately 3 to 6 months,” the Hangzhou-based startup said.

The “flash” model has similar reasoning abilities to the “pro” version, while offering faster response times and “highly cost-effective” usage pricing, the firm said.

The release comes after DeepSeek-R1 stunned the tech sector upon its launch in January last year with capabilities broadly comparable with those of ChatGPT and Gemini.

Marc Andreessen, a prominent Silicon Valley venture capitalist with close ties to United States President Donald Trump, hailed the model’s release at the time as “AI’s Sputnik moment”.

The performance of the Chinese-developed model attracted particular attention as its developers claimed to have spent less than $6m on computing costs – a fraction of the multibillion-dollar budgets that are usual in Silicon Valley.

Some tech analysts challenged DeepSeek’s account of working with such scant resources, arguing that the startup most likely had access to greater funding and more advanced chips than acknowledged.

DeepSeek’s arrival on the scene prompted blowback in some countries amid concerns about data protection and Chinese government censorship.

Multiple US states, Australia, Taiwan, South Korea, Denmark and Italy introduced bans or other restrictions on DeepSeek-R1 shortly after its release, citing privacy and national security concerns.

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Why UAE Is Becoming the Global Hub for Entrepreneurs and Investors

In recent years, the United Arab Emirates (UAE) has transformed itself into one of the most attractive destinations for entrepreneurs, startups, and international investors. What used to be primarily known as an oil-driven economy has now evolved into a diversified, innovation-focused business hub with strong global connections.

For anyone considering international expansion, relocation, or asset structuring, the UAE offers a combination of strategic advantages that are difficult to match elsewhere. From tax optimization to ease of doing business, the country continues to attract companies from Europe, Asia, and beyond.

Strategic Location and Global Connectivity

One of the key reasons why the UAE stands out is its geographic position. Located between Europe, Asia, and Africa, it serves as a natural gateway for international trade. Major cities like Dubai and Abu Dhabi are well connected through world-class airports and seaports, making logistics and operations significantly more efficient.

This strategic positioning allows businesses to operate across multiple markets with minimal friction. Whether you’re running an e-commerce operation, a consulting firm, or a trading company, the UAE provides access to billions of consumers within a few hours’ flight.

Business-Friendly Environment

The UAE government has made significant efforts to create a pro-business environment. Over the past decade, regulations have been simplified, and bureaucratic barriers have been reduced.

Some of the key advantages include:

  • Fast company registration processes
  • Minimal reporting requirements compared to many Western jurisdictions
  • Strong legal framework protecting investors
  • Access to free zones with tailored business benefits

Entrepreneurs who previously struggled with complex regulatory systems in their home countries often find the UAE refreshingly straightforward.

If you’re exploring international expansion, understanding the process of company formation in uae is one of the first steps to unlocking these advantages.

Tax Efficiency and Financial Benefits

One of the most compelling reasons businesses move to the UAE is its tax structure. While global tax regulations are evolving, the UAE still offers highly competitive conditions:

  • 0% personal income tax
  • Competitive corporate tax rates
  • No capital gains tax in many cases
  • No withholding taxes

For founders and business owners, this translates into significantly higher retained earnings and better capital allocation.

However, it’s important to approach this strategically. Many entrepreneurs make the mistake of focusing only on “zero tax” narratives without understanding compliance requirements, substance rules, and international reporting obligations. Poor structuring can eliminate all the benefits you’re aiming for.

Free Zones vs Mainland: What Actually Matters

A common misconception is that choosing between free zones and mainland structures is just a formality. In reality, this decision has long-term consequences for your operations.

Free zones offer:

  • 100% foreign ownership
  • Simplified setup
  • Industry-specific ecosystems

Mainland companies provide:

  • Access to the local UAE market
  • Fewer restrictions on business activities
  • More flexibility in scaling

The right choice depends entirely on your business model. If you’re running a digital business or international service company, a free zone might be sufficient. But if you plan to operate locally or work with government contracts, mainland becomes necessary.

Most founders underestimate this decision and later face restructuring costs. That’s avoidable if the setup is done correctly from the beginning.

Reputation and Credibility

Beyond operational and tax benefits, the UAE also provides a strong reputational advantage. Having a company registered in Dubai or Abu Dhabi often enhances credibility when dealing with international partners.

Clients and investors tend to view UAE-based companies as more stable and globally oriented compared to entities registered in offshore or less regulated jurisdictions.

This matters especially in industries like:

  • Finance and consulting
  • E-commerce and trading
  • IT and digital services

A well-structured UAE company can significantly improve your positioning in competitive markets.

Banking and Financial Infrastructure

Opening a corporate bank account has become more complex globally, and the UAE is no exception. However, compared to many jurisdictions, it still offers relatively accessible banking solutions—if your structure and documentation are prepared correctly.

Key considerations include:

  • Clear business activity
  • Transparent ownership structure
  • Proof of business operations
  • Compliance with AML requirements

Many entrepreneurs fail at this stage not because the system is broken, but because they approach it unprepared. Proper planning significantly increases approval chances.

Scaling Opportunities

The UAE is not just a place to register a company—it’s a platform for scaling.

The country actively supports:

  • Startups and innovation hubs
  • Venture capital and investment funds
  • Tech and digital transformation initiatives

Dubai, in particular, has become a hotspot for founders building global products. Access to capital, talent, and infrastructure creates an environment where scaling is not just possible—it’s expected.

However, there’s a blind spot many entrepreneurs have: they move to the UAE expecting growth to happen automatically. It doesn’t. The environment amplifies good strategies, but it also exposes weak ones.

If your business model is flawed, the UAE won’t fix it—it will just make the problems more expensive.

Cost Considerations

While the UAE offers numerous advantages, it’s not a “cheap” jurisdiction.

Typical costs include:

  • Company registration fees
  • License renewals
  • Office requirements (depending on structure)
  • Visa costs

This is where many people miscalculate. They focus on tax savings but ignore operational expenses. The result? A setup that looks good on paper but doesn’t make financial sense.

The correct approach is to evaluate total cost vs. total benefit—not just taxes.

Long-Term Perspective

The biggest mistake entrepreneurs make when entering the UAE is treating it as a short-term hack rather than a long-term strategic move.

If you approach it purely as a tax-saving tool, you’ll likely:

  • Underinvest in structure
  • Ignore compliance
  • Face issues with banks or authorities

But if you treat it as a base for international growth, the UAE becomes one of the most powerful jurisdictions available today.

Final Thought

The UAE isn’t a magic solution—but it’s one of the few places where business, tax efficiency, global access, and infrastructure align at a high level.

Most people either overestimate it (“it solves everything”) or underestimate it (“just another offshore”). Both views are wrong.

The real advantage comes from execution:

  • Choosing the right structure
  • Setting up properly from day one
  • Aligning your business model with the environment

If done correctly, the UAE doesn’t just optimize your business—it changes the trajectory of it.

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Global nuclear leaders gather in Busan for AI-era energy

Visitors look at a South Korea-developed innovative small modular reactor model during this year’s International Nuclear Energy Expo at the BEXCO exhibition center in Busan, South Korea, 22 April 2026. Photo by YONHAP / EPA

April 22 (Asia Today) — Global nuclear industry leaders gathered in Busan on Tuesday, highlighting the growing role of nuclear power in meeting surging electricity demand driven by artificial intelligence and data centers.

The Korea Atomic Industrial Forum opened its annual conference at BEXCO, bringing together policymakers, industry leaders and researchers under the theme “Nuclear energy for the AI era.”

This year’s event is being held alongside the Pacific Basin Nuclear Conference, which returned to South Korea for the first time in 14 years, and the Busan International Nuclear Industry Exhibition. Organizers expect around 19,000 participants.

The event features representatives from 19 countries and 156 companies, making it the largest exhibition of its kind to date.

Participants emphasized that rapid growth in AI technologies is fundamentally reshaping global energy demand. Electricity consumption by data centers is projected to reach 1,300 terawatt-hours by 2035, while AI-related power demand is expected to grow at an annual rate exceeding 120% through 2028.

To meet this demand, major technology companies have significantly increased investments in nuclear energy, with total spending surpassing $30 billion over the past 18 months.

Government policy is also shifting. The United States has set a target to expand nuclear capacity to 400 gigawatts by 2050 – roughly four times current levels – while about 15 new nuclear reactors are expected to come online globally in 2026.

Keynote speakers included Mesut Ozman of Fermi Nuclear, who is leading an 11-gigawatt nuclear project in Texas, and Tomas Ehler of the Czech Ministry of Industry and Trade, along with other senior officials and industry executives.

The conference also includes sessions focused on Southeast Asia, where countries such as Singapore, Malaysia and Vietnam are exploring nuclear energy adoption.

Discussions are covering a wide range of issues, including reactor lifetime extensions, carbon neutrality, artificial intelligence, energy security, small modular reactors and radioactive waste management.

South Korean companies are also expanding their global footprint. Hyundai Engineering & Construction is participating as an engineering, procurement and construction partner in negotiations for four AP1000 reactor projects, while Doosan Enerbility is supplying key components such as reactor vessels and steam generators.

The Czech Republic is also pursuing an expanded nuclear strategy, aiming to increase the share of nuclear power in its energy mix to as much as 50% to 60% through new projects at Dukovany and Temelin.

As energy demand accelerates in the AI era, industry leaders said nuclear power is increasingly being viewed as a reliable and scalable solution to ensure energy security and meet climate goals.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260422010007146

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Global markets on edge as investors await outcome of US-Iran negotiations

Published on Updated

Oil prices edged slightly higher, European indices traded flat, while Asian markets surged on Tuesday morning as investors monitored potential US-Iran negotiations and the final 48 hours of the current ceasefire.


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At the time of writing, US benchmark crude was up 8.5% from last Friday’s low to around $86.3 a barrel, while Brent crude, the international standard, was around 9.5% higher at roughly $94.5 a barrel.

As for European markets, the Euro Stoxx 50 and the broader pan-European Stoxx 600 were trading within a 0.2% range.

The UK’s FTSE 100, Germany’s DAX 30, France’s CAC 40 and Italy’s FTSE MIB were all similarly trading within a 0.3% range.

On Wall Street, US futures were also all trading within a 0.3% range with the tech-heavy Nasdaq leading. The S&P 500 closed marginally lower by 0.2% on Monday at 7109 points.

Despite US representatives, including special envoy Steve Witkoff and senior adviser Jared Kushner, travelling to Islamabad as part of renewed efforts to secure an agreement, no concrete progress on US-Iran negotiations has been announced.

The Strait of Hormuz remains closed and the current ceasefire ends on Wednesday keeping markets in a state of uncertainty.

US President Donald Trump has asserted that the deal currently being negotiated will be better than the Joint Comprehensive Plan of Action (JCPOA), which was signed by US President Barack Obama in 2015 and from which Trump withdrew in 2018.

Latest on US-Iran negotiations

Following the arrival of US representatives to Islamabad there has been no developments on the negotiations with Iran.

Even though US President Donald Trump confidently declared that there is a historic deal in the works, public statements from major Iranian figures seem to indicate otherwise.

Mohammad Ghalibaf, the speaker of Iran’s parliament and the person previously heading the talks with the US, made sweeping declarations via X on Monday stating that the country will “not accept negotiations under the shadow of threats” and “has prepared to reveal new cards on the battlefield”.

Previously, other Iranian representatives have also described US demands as “excessive”.

For the time being, markets eagerly await developments and are highly sensitive to any headlines about the situation.

Associated British Foods and Primark demerger

Although European markets are trading flat, major news in the retail consumer sector has come out of the UK.

Associated British Foods (ABF) is poised to announce the outcome this week of a strategic review into demerging its fast-fashion retail arm Primark, from its diversified food business.

The conglomerate, controlled by the billionaire Weston family, has been working with advisers from Rothschild & Co to assess whether the split would maximise long-term shareholder value.

Analysts argue the move makes sense because of the limited operational synergies between the two divisions: the food arm generates steady cash flows from brands such as Twinings, Patak’s, Jordans cereals and Allied Bakeries, while Primark has pursued aggressive international expansion in a fiercely competitive retail sector.

The decision comes as ABF faces tough trading conditions, with the group warning in January of flat annual sales and declining profits, further pressured by rising costs and the fallout from the Iran conflict, including potential increases in petrochemical prices.

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World’s Best Investment Banks 2026: Global Winners By Sector

In 2025, some of the world’s top investment banks demonstrated their leadership across diverse sectors, driving major deals that shaped global markets.

For 2025, some of the world’s most influential investment banks demonstrated their ability to adapt, innovate, and lead across diverse sectors. From major M&A to groundbreaking IPOs, these financial powerhouses have cemented their positions as industry leaders by executing high-profile deals that shaped global markets.

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Financial Services

With a dedicated team of 150 specialists in the category, UBS delivered some of the year’s most closely watched finance deals. In the US, the Swiss powerhouse played a leading role in the $1.6 billion acquisition of Paramount Group by global alternative-asset manager Rithm Capital. In Europe, UBS served as financial adviser to Monte dei Paschi di Siena in connection with the voluntary public purchase and exchange offer for Mediobanca for over €16.5 billion (about $19 billion). UBS also advised financial services provider Baloise in its 17.8 billion Swiss franc (about $22 billion) merger of equals with Helvetia, one of the sector’s most important deals. UBS acted as an active bookrunner on the May IPO of Israel’s eToro retail trading platform, valued at $4.2 billion. The bank also acted as a joint bookrunner on Swedish fintech Klarna’s $1.4 billion IPO in September.         —Thomas Monteiro

Healthcare

With a specialized healthcare team of more than 100 advisory bankers in 20 offices globally, Rothschild secured several of the most complex and high-profile deals of 2025.

Balancing IPO and private-sale options, the London-based firm supported Sanofi’s disposal of French multinational pharmaceutical company Opella, valued at €16 billion. The bank also acted as joint lead adviser in the €10 billion sale of pharma company Stada Arzneimittel to investment firm CapVest—one of Europe’s largest leveraged buyouts of 2025. In Switzerland, Rothschild advised Swiss multinational medical-technology company Ypsomed on the carve-out and sale of its Diabetes Care division to TecMed for 420 million Swiss francs.

Beyond Europe, the bank supported healthcare deals in Asia and North America, including India’s landmark sale of a controlling stake in JB Chemicals and Pharmaceuticals to Torrent Pharmaceuticals for roughly $3 billion. —TM

Industrials/Chemicals

2025 saw a surge in industrials and chemicals M&A activity, with major deals in the US and Europe reshaping the market. UK-based Barclays played a key advisory role, including on Berkshire Hathaway’s $9.7 billion acquisition of OxyChem, spun off from Occidental Petroleum..

Barclays also advised the buy side on the $13.4 billion acquisition of Nova Chemicals by a consortium led by Abu Dhabi National Oil Company and OMV, the year’s largest cross-border deal in the sector, which played a key role in strengthening global polyolefins production.

In industrial technology, Barclays advised CVC Capital Partners on its £2 billion ($2.5 billion) acquisition of Smiths Detection from Smiths Group, highlighting continued private-equity interest in high-tech industrial assets. —TM

Infrastructure Finance

As global infrastructure investment accelerated in 2025, French giant Societe Generale played a central role in some of the year’s most significant infrastructure transactions. In the UK, Societe Generale acted as mandated lead arranger and bookrunner on £5.5 billion (about $7.3 billion) of financing for the Sizewell C nuclear power station, one of Europe’s most important new energy-infrastructure projects and a cornerstone of the country’s long-term energy-security strategy.

The bank was also a key arranger on nearly $1.1 billion in green financing for the Eastern Green Link 2 transmission project, a 505 km (about 314-mile) subsea electric cable connecting Scotland and England. The project will transport up to 2 GW of renewable electricity from coastal wind farms to southern demand centers, enough to power more than 2 million homes while strengthening the UK’s electricity grid. Digital infrastructure has also been an important pillar of Societe Generale’s franchise. The bank participated in €650 million financing for the development of a European hyperscale data-center platform backed by Iliad Group and InfraVia, to support the expansion of cloud computing and AI infrastructure.         —TM

After reaching record highs in 2025, prices for base metals and critical minerals continue to be whipsawed as economic risks and uncertainty persist, with shifting tariffs and supply disruptions related to the conflict in Iran. Strong price appreciation contributed to increased capital-markets activity, with many companies opting to increase scale or sell noncore assets. BMO Capital Markets continues to help clients successfully navigate these complex markets with advisory mandates and capital-markets execution on the largest transactions.

Globally, BMO covered 21 transactions in 2025 valued at $38 billion. It is also the sector’s top bank in equity capital-markets underwriting. In one of the largest metals and mining transactions of the past 10 years, BMO advised the $50-billion merger of Teck Resources and Anglo American. With BMO’s dominant market position, it has cultivated many long-term relationships. One of these clients is Coeur Mining, which the firm advised on the acquisition of SilverCrest Metals with a total implied equity value of approximately $1.7 billion. BMO was also named adviser for Coeur Mining’s announced buy of New Gold, valued at about $7 billion. —David Sanders

Power/Energy

The global power and energy investment outlook remained robust in 2025, driven by rising infrastructure spending amid the rearranging of supply chains due to increased geopolitical tensions and continuously accelerating renewable energy transition projects. Against this backdrop, our best bank for the sector, Brazilian heavyweight BTG Pactual, took advantage of its region’s large-scale privatizations, transmission-asset sales, and growing private investment to notch a banner year.

Among the bank’s main deals of the year in the sector, BTG served as the exclusive financial adviser to Equatorial Energia on the 9.4 billion Brazilian-real (about $1.8 billion) sale of its electricity-transmission portfolio to Canada’s CDPQ, one of the year’s largest infrastructure transactions. BTG also advised Eletrobras on the 535 million-real sale of its stake in Eletronuclear to a subsidiary of J&F Investimentos, a strategic divestment aimed at streamlining the Brazilian utility’s portfolio. The firm was equally active in energy transition investments. BTG acted as exclusive financial adviser to Orizon on the 275 million-real sale of a minority stake to eB Capital, supporting expansion in the waste-to-energy sector.  —TM

Real Estate Finance

As one of the leading banks in the Asia-Pacific region, DBS has been recognized as a global leader in real estate finance. Southeast Asia’s largest bank notably issued 300 million Singapore dollars (about $235 million) in five-year noncallable green subordinate perpetual securities at 3.18%. This issuance is one of the largest corporate perpetual securities in Singapore dollars and has the lowest fixed rate in 2025. DBS also acted as one of the bookrunners/managers for the Hysan Development-related $750 million bond issuance.

Lastly, DBS issued multitranche 3.5 billion offshore yuan (about $508.5 million) senior unsecured green notes due in 2028, 2030, and 2035. This was the first 10-year offshore yuan public bond.        —Lyndsey Zhang

Sports Finance

In 2025, Guggenheim was a key player in sports finance, advising on major franchise transactions and strategic deals. The firm facilitated CEO Mark Walter’s historic $10 billion acquisition of the Los Angeles Lakers; it was the highest valuation ever for a professional sports team.. Guggenheim also advised Major League Baseball on a $9 billion debt-restructuring deal with Main Street Sports Group (formerly Diamond Sports Group), helping it emerge from Chapter 11 bankruptcy. The firm played a key role in Liberty Media’s €4.2 billion acquisition of Dorna Sports and published research suggesting the NFL’s media rights are undervalued. Additionally, Guggenheim developed structured credit solutions for sports teams, allowing them to leverage non-game day revenue streams.

In 2025, UBS played a central role in the tech dealmaking rebound, benefiting from increased capital inflows. The bank served as exclusive financial adviser to Veeco Instruments on its $4.4 billion merger with Axcelis Technologies, combining semiconductor equipment suppliers to meet growing demand in AI and data centers. UBS also led Fermi America’s $13.8 billion dual-listing IPO on the London Stock Exchange and Nasdaq, marking the first such dual listing in over a century. In Europe, UBS was a joint bookrunner for the Swiss Marketplace Group’s €901.6 million IPO, one of the continent’s largest digital platform listings.  

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Global fallout grows over Israeli soldier smashing Jesus statue in Lebanon | Israel attacks Lebanon

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Outrage continues to grow over the Israeli soldier who was photographed desecrating a statue of Jesus Christ in southern Lebanon, including among Trump’s former MAGA allies. From a Polish MP to a Palestinian theologian, observers say it reveals a wider pattern.

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Brazil’s Lula warns of global disorder, calls for U.N. reform

Brazilian President Luiz Inacio Lula da Silva speaks during a media tour at the Hanover Fair 2026 Hanover, Germany, on Monday. Photo by Hannibal Hanschke/EPA

April 20 (UPI) — Brazilian President Luiz Inácio Lula da Silva has warned about the deterioration of the international order and the paralysis of the United Nations in a message published on X.

He urged strengthening multilateralism while on an official visit to Germany, where he also promoted the trade agreement between the European Union and Mercosur.

“It is useless to have one’s house in order in a world that is in disorder. The prevalence of force over law is the greatest threat to international peace and security,” Lula wrote in a message that addresses multiple global conflict hotspots.

Lulu expressed concern over “the risks of a new conflict in Iran” and a possible escalation in Lebanon, as well as the situation in Palestine, where he said that “the survival of the Palestinian state and its people remains under threat.”

He also mentioned the war in Ukraine, noting that “the long-awaited peace remains distant.”

In his message, Lula criticized the lack of international action.

“Between the actions of those who provoke wars and the silence of those who prefer to remain quiet, the United Nations is once again paralyzed,” he said. He added that Brazil and Germany have defended for decades a reform of the Security Council that restores its legitimacy.

“Revitalized multilateralism is the only path to restore diplomacy and cooperation as tools for peace and sustainable development,” he said, and concluded with a broader call: “Humanity must recover the idea that peace is morally necessary and politically possible.”

The message aligns with a series of recent statements by the Brazilian leader on the global order and the role of major powers.

In an interview published Thursday by the Spanish newspaper El País, Lula criticized U.S. President Donald Trump over his rhetoric toward other countries and questioned the use of threats in foreign policy.

“Trump does not have the right to wake up in the morning and threaten a country,” Lula said, also calling for greater responsibility from international leaders to preserve peace.

In the same interview, he defended dialogue as the main diplomatic tool and warned about the risk of global escalation.

“I do not want a war with the United States. I decided to be very patient,” he said, explaining that his government prioritizes negotiation and national interests over ideological differences.

He also questioned the use of tariffs by Washington and said that the arguments to apply measures against Brazil “were not true.”

Lulu already has raised the need to reform international institutions.

“The time has come to redefine the United Nations to give it credibility,” he said, in line with his most recent call on social media.

In Germany, Lulu participated in the opening of the Hannover Industrial Fair alongside Chancellor Friedrich Merz.

Both leaders highlighted the free-trade agreement between the European Union and Mercosur, whose provisional entry into force is scheduled for May 1.

Merz said the agreement “will make all participating economies stronger, more independent and more resilient.” Lula, for his part, presented it as an alternative to unilateralism.

“Mercosur and the European Union chose cooperation,” he said, adding that increased trade will boost employment and investment in both regions.



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