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Uzbekistan’s National Investment Fund, known as UzNIF, began trading on the London Stock Exchange on Monday, marking the country’s first international equity offering.

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The fund, which is managed by Franklin Templeton, also launched simultaneously on the Tashkent Stock Exchange through a dual listing structure, bringing Uzbek state-linked assets to international equity markets for the first time.

The opening ceremony at the London Stock Exchange brought together executives, investors and Uzbek officials, with speakers presenting the listing as a significant step in the country’s efforts to expand access to international capital markets.

First international equity offering

Speaking during the ceremony, Julia Hoggett, Chief Executive Officer of the London Stock Exchange, described the IPO as “the first ever international IPO out of Uzbekistan” and said the transaction could help “more global investment to flow” into the country’s economy.

Hoggett also said the dual listing marked “a new chapter both in London and in Tashkent”, adding that the offering connected international investors with a portfolio of Uzbek companies through a single fund managed by an international asset manager.

Saida Mirziyoyeva, Head of the Administration of the President of Uzbekistan, said Uzbekistan was preparing “new listings” and expanding private sector participation, while also working on plans linked to the proposed Tashkent International Financial Centre.

Speaking from the London Stock Exchange balcony, Mirziyoyeva said the IPO was “not just about raising capital” but also about “building trust in a new generation of Uzbek institutions”.

Jenny Johnson, President and Chief Executive Officer of Franklin Templeton, described the IPO as “a defining and historic milestone” for both Uzbekistan and Franklin Templeton, saying the transaction had generated more than $2.8 billion in investor demand globally.

Johnson said orders exceeded the initial offering by more than four times during the bookbuilding process, which ran from late April to mid-May. She added that the domestic offering in Tashkent had become the country’s “largest local listing to date”, allowing local investors to participate alongside international institutional funds.

International investors and state assets

Thirty percent of the fund’s shares were offered internationally through global depositary receipts, while part of the allocation was also made available to domestic investors through the Tashkent Stock Exchange.

According to previously released information from the fund and its advisers, international demand reached around $2.9 billion (€2.6bn), with more than 160 institutional investors participating in the offering. Among them were BlackRock, Franklin Templeton and Redwheel.

The IPO raised approximately $603.6 million (€540m), valuing the fund at around $1.95 billion (€1.74bn) at the offer price. The shares were sold by Uzbekistan’s Ministry of Economy and Finance, meaning the proceeds from the transaction will go to the state rather than directly to the fund itself.

The international tranche included more than 23 million global depositary receipts, or GDRs, listed in London under the trading symbols UZNF and UZ20. One GDR represents 64,700 shares in the fund.

Cornerstone investors, including funds and accounts managed by BlackRock, Franklin Resources and Redwheel, as well as treasury companies linked to the Allan & Gill Gray Foundation, committed a combined $300 million (€268m) to the offering.

UzNIF was established in 2024 under a presidential decree and is managed by Franklin Templeton, the US-based investment company that oversees more than $1.4 trillion (€1.25 trn) in assets globally and operates in more than 150 countries.

The fund’s portfolio includes stakes in 13 state-linked companies operating in sectors considered strategic for the Uzbek economy, including electricity distribution, thermal power generation, hydropower, telecommunications, aviation, rail infrastructure, utilities and banking.

Among the companies included in the portfolio are Uzbektelecom, Uzbekistan Airways, Uzbekhydroenergo and several state energy and infrastructure operators.

The listing also reflects broader efforts to develop domestic capital markets in Uzbekistan and increase participation from local investors alongside international institutions.

Prime Minister Narendra Modi says his talks with the Dutch PM also focused on expanding cooperation in defence and security.

India’s Tata Electronics has signed a deal with Dutch technology giant ASML to build a major semiconductor plant in western India, as Prime Minister Narendra Modi visited the Netherlands during his European tour.

The agreement, announced on Saturday, will support the development of Tata’s semiconductor facility in Dholera, Gujarat – Modi’s home state.

ASML, Europe’s largest technology company by market value, manufactures advanced lithography machines used to produce high-end microchips found in products ranging from mobile phones to cars.

The Dutch company said it would help “establish and ramp up” production at the plant by supplying its cutting-edge chipmaking tools.

Tata Electronics plans to invest $11bn in the facility, which is expected to manufacture chips for artificial intelligence, the automotive industry and other sectors.

ASML chief executive Christophe Fouquet said the company saw “many compelling opportunities” in India’s growing semiconductor industry.

“We are committed to establishing long-term partnerships in the region,” Fouquet said in a statement.

The deal comes as India and the Netherlands move to deepen economic ties, with New Delhi seeking foreign technology and investment to boost manufacturing and create jobs.

The European Union has increasingly viewed India – the world’s most populous country and one of its fastest-growing economies – as a key future market.

During his visit, Modi held talks with Dutch Prime Minister Rob Jetten and met King Willem-Alexander.

“My conversations with Prime Minister Rob Jetten were extensive and covered a wide range of topics,” Modi wrote on X.

“One of them was defense and security. I spoke about the possibility of drawing up an action plan for the defense industry as quickly as possible. We can also collaborate in sectors such as space travel, maritime systems, and maritime security.”

Modi also addressed members of the Indian diaspora and is expected to inspect centuries-old Chola copper plates being returned to India by Leiden University.

Indian and Dutch officials are also discussing a more flexible visa arrangement for Indian students and workers in the Netherlands.

Modi will next travel to Sweden for talks with Prime Minister Ulf Kristersson focused on trade, innovation and green technology cooperation. The visit marks his second trip to the country since attending the first India-Nordic summit in 2018.

The Hague in the Netherlands hosts the world’s most powerful international courts, where judges speak for the conscience of humanity. Yet we consult them only after atrocities have erupted – after wars have shattered communities and legal battles begin.

In theory, law can hold power to account. But has it been enough? Can it truly confront militarism, prevent atrocities, and protect people before disaster strikes?

Join Ali Rae for episode two of All Hail the Military, a five-part series that reveals the systems, power, and hidden complicities that sustain global militarism – and the profound impact it has on us all.

The Philadelphia Eagles will play in London as part of the NFL’s international games next season.

The NFL will stage a record nine regular-season games overseas during 2026, with three in the UK while Australia and France are hosts for the first time.

The London series begins on 4 October with the Washington Commanders hosting the Indianapolis Colts at Tottenham Hotspur Stadium.

The Jacksonville Jaguars will then host games on the following two Sundays against the Eagles at Tottenham then the Houston Texans at Wembley.

The first international game will take place during the first week of the season, with the Los Angeles Rams having a divisional match-up against the San Francisco 49ers at the iconic Melbourne Cricket Ground.

The 49ers will also face the Minnesota Vikings as the NFL returns to Mexico, while the Baltimore Ravens meet the Dallas Cowboys in the league’s first game in Rio de Janeiro.

There will be three games in continental Europe, with the New Orleans Saints facing the Pittsburgh Steelers as Paris hosts its first game at the Stade de France.

The Cincinnati Bengals then face the Atlanta Falcons at the home of Real Madrid while the New England Patriots, who reached last season’s Super Bowl, will take on the Detroit Lions in Munich.

International Olympic Committee urges sporting bodies to let Belarusian athletes compete again without vetting as neutrals.

Athletes from Belarus should once again compete with their full national identity and not be vetted for neutral status, the International Olympic Committee has said.

Though the advice to sports governing bodies does not yet apply also to Russia, it seemed to point towards being closer to ending Russia’s isolation in Olympic circles during its war on Ukraine.

One barrier to Russia’s return is an ongoing World Anti-Doping Agency investigation into recent reports implicating Russian anti-doping agency official Veronika Loginova.

The IOC said its executive board noted “with concern the recent information” being looked at by WADA, without naming Loginova.

Athletes from Russia and Belarus had to be approved as neutrals who did not support the war for individual events at the 2024 Paris Olympics and February’s Milano Cortina Winter Olympics. A total of 32 athletes from the two countries competed in Paris, to win five medals combined, including one gold in trampoline by an athlete from Belarus.

“The IOC reaffirms that athletes’ participation in international competition should not be limited by the actions of their governments, including involvement in a war or conflict,” the Olympic body said on Thursday.

The IOC noted the qualification period for the 2028 Los Angeles Olympics “starts this summer.”

The Russian Olympic Committee has been suspended by the IOC since October 2023 for incorporating regional sports bodies in illegally occupied eastern Ukraine.

“Whilst the ROC has held constructive exchanges with the IOC on its suspension,” the IOC said, “it remains suspended while the IOC Legal Affairs Commission continues to review the matter.”

Workers are gathering in cities around the world to mark International Labour Day, with some demonstrations, such as those in Istanbul, Turkiye, turning to scuffles with police.

Trade Unions are calling for solidarity and the protection of workers’ rights as the United States-Israeli war on Iran and rising energy costs raise concerns about the global economy.

“Working people refuse to pay the price for Donald Trump’s war in the Middle East,” the European Trade Union Confederation, which represents 93 trade union organisations in 41 European countries, told the media. “Today’s rallies show working people will not stand by and see their jobs and living standards destroyed.”

Josua Mata, leader of the SENTRO umbrella group of workers’ groups in the Philippines, said: “Every Filipino worker now is aware that the situation here is deeply connected to the global crisis.”

Renato Reyes, a leader of the left-wing political group Bayan in the Philippines, told The Associated Press: “There will be a louder call for higher wages and economic relief because of the unprecedented spikes in fuel prices.”

In Indonesia, Said Iqbal, president of the Indonesian Trade Union Confederation, told reporters: “Workers are already living pay cheque to pay cheque.”

Some of the largest demonstrations are being held in South America, including in Chile, Bolivia and Venezuela. In Argentina, angry workers protested on Thursday in the capital of Buenos Aires over President Javier Milei’s recent overhaul of long-held labour protections.

In Cuba, the foreign ministry held a gathering on Thursday in defiance of what it called the US’s “aggressions, threats, intensified blockade, and energy siege”.

On Friday, Cubans are expected to mark International Labour Day with a mass rally and a march in Havana.

In many countries, Labour Day rallies attract large crowds because May 1 is a public holiday. In the Turkish city of Istanbul, roads around Taksim Square were closed to make way for marches during the day. Later on Friday, demonstrators clashed with police, international media reported.

In France, where most people have the day off for May Day, workers’ unions using the slogan “bread, peace and freedom” called for protests in Paris and other cities.

Global recession fears

Fears of a global recession are looming over Labour Day rallies at a time when income inequality is growing.

In Gaza, Palestinian workers have cancelled May Day events because of the economic crisis caused by Israel’s genocidal war on Gaza and poor conditions on the ground.

The Palestinian General Federation of Trade Unions said that about 550,000 workers across Gaza and the West Bank have no income and that the situation is unprecedented.

The International Trade Union Confederation has reported that at least four CEOs of major corporations each pocketed more than $100m in pay and bonuses last year, while many workers are facing potential job cuts.

Workers’ rights coalitions are calling for urgent action to curb extreme wealth. They want governments to impose higher, fairer taxes on the wealthiest and limit excessive executive pay.

While Labour Day began in the US, when workers protested for an eight-hour workday in the 1880s, the US does not count May Day as a public holiday.

However, an umbrella group of activist and workers’ groups known as May Day Strong has called for protests under the slogan, “workers over billionaires”. Hundreds of demonstrations and marches have been planned across the US.

April 30 (UPI) — Israeli forces intercepted and boarded the Global Sumud Flotilla in international waters off Greece on Thursday, preventing it from delivering aid to Gaza and drawing international condemnation.

The Israeli military, using drones and armed personnel, blocked the fleet of ships in the Mediterranean Sea off the coast of the Greek island of Crete. Twenty-two of 58 vessels were seized, with passengers held at gunpoint.

“Our boats were approached by military speedboats, self-identified as ‘Israel’, pointing lasers and semi-automatic assault weapons, ordering participants to the front of the boats and to get on their hands and knees,” the Global Sumud Flotilla aid mission said in a statement.

The Israeli Foreign Ministry said in a social media statement on Thursday that it detained about 175 activists from the more than 20 boats of the flotilla.

“Well done to our Navy!” Prime Minister Benjamin Netanyahu said in a statement following the operation, stating he had directed the military to intercept the boats before they reached Gaza.

“No ship and no Hamas supporter reached our territory, and not even our territorial waters. They were turned back and will return to their countries of origin.”

The flotilla was sailing from Barcelona, Spain, to Gaza when its ships were intercepted. Crete is more than 700 miles from the Palestinian enclave.

The Global Sumud Flotilla social media page posted that Israeli forces smashed engines and destroyed navigation arrays on its ships before retreating.

“Intentionally leaving hundreds of civilians stranded on powerless, broken vessels directly in the path of a massive approaching storm,” the social media post reads. “Furthermore, communications with multiple vessels have been jammed, severing their ability to coordinate or signal for help.”

Israel has maintained a maritime blockade of Gaza since 2009. It has said the blockade is meant to block weapons smuggling to Gaza.

The Israeli Foreign Ministry called the aid flotilla a “PR stunt.”

“As international media have exposed, these are professional provocateurs on pleasure cruises, addicted to self-promotion,” the Israeli Foreign Ministry wrote on social media.

Numerous countries, politicians and human rights organizations voiced condemnation of the Israeli operation, with a dozen-country bloc, including Brazil, Pakistan, Spain, Malaysia and South Africa, describing the interception as an “Israeli assault” on a peaceful civilian humanitarian initiative.

“The Israeli attacks against the vessels and the unlawful detention of humanitarian activists in international waters constitute flagrant violations of international humanitarian law,” the bloc said in a statement.

Italian President Giorgia Meloni separately condemned the seizure, while Turkey’s Foreign Ministry called upon the international community “to adopt a unified stance against this unlawful act by Israel.”

The U.S. State Department, meanwhile, issued a statement condemning the flotilla.

A prominent shipping organisation has condemned the United States and Iran’s tit-for-tat capture of commercial ships and is calling for the immediate release of their crews.

In an interview with Al Jazeera, John Stawpert, marine director of the International Chamber of Shipping, said seafarers must be allowed to go about their business “freely and without persecution”.

Stawpert, whose organisation is the top trade association for merchant shipowners and operators worldwide, called the capture of the vessels an affront to freedom of navigation as enshrined in international law.

“All these people are doing is transporting trade. And really, we can’t have a situation where ships are being seized, ultimately for political ends, to prove a political point,” said Stawpert, whose organisation represents about 80 percent of the world’s merchant fleet.

“These are innocent farers and they should be allowed to go about their jobs without fear of, essentially, imprisonment.”

Stawpert said Iran’s stated wish to charge tolls in the Strait of Hormuz had no basis in international law and would set a dangerous precedent.

“If you can do it in the Strait of Hormuz, why can’t you do it in the Strait of Gibraltar, say, or the Straits of Malacca?” he asked.

Stawpert also said the US President Donald Trump’s naval blockade of Iranian ports had heaped further uncertainty on shipping companies already reeling from Iran’s effective closure of the strait.

“We don’t know what conditions are in place. We don’t know what the targeting criteria of Iran are really,” Stawpert said. “And so we then have another state coming in, effectively doing the same thing through the blockade of the straits”.

The US and Iranian militaries have each announced the capture of two commercial vessels over the past week as Washington and Tehran continue to face off in the strait and in waters beyond the Gulf.

The US defence department on Thursday said it had captured the Iran-linked Majestic X as it was transporting sanctioned oil in the Indian Ocean, days after announcing the interception of another ship, Tifani.

Iran’s Islamic Revolutionary Guard Corps on Wednesday said it seized the Panamanian-flagged MSC Francesca and the Greek-owned Epaminondas for “operating without the necessary permits and tampering with navigation systems”.

The Philippines’ Department of Migrant Workers on Wednesday confirmed 15 Filipino seafarers were on the two vessels.

Officials said they had been assured by Iranian authorities that all the crew were “unharmed” and “safe.”

Montenegro’s maritime minister, Filip Radulovic, said in an interview with the state broadcaster earlier this week that four Montenegrin crew on the MSC Francesca were “fine”.

There have been no official updates on the condition of the crews on the vessels captured by US forces.

“It seems they’re not being maltreated,” Stawpert said. “But even so, that’s not really the point. The point is they shouldn’t be in custody in the first place”.

Stawpert also expressed concern for the well-being of an estimated 20,000 seafarers who have been left stranded in the Gulf due to the effective closure of the strait.

“Their welfare is also a priority for us,” he said. “The psychological burden, I think, will be beginning to tell on them after seven weeks now of what’s, to all intents and purposes, house arrest”.

Stawpert called on both the US and Iran to respect freedom of navigation.

“Let’s resume freedom of navigation and respect the right to innocent passage as soon as we possibly can,” he said.

The blockage of the strait, which usually carries about one-fifth of global oil and natural gas supplies, has driven up fuel prices worldwide and forced many governments to start emergency energy-saving measures.

Traffic in the waterway remains a fraction of pre-war levels, with reports saying just five ships transited the strait in the last 24 hours.

Before the US and Israel launched their war against Iran on February 28, the strait saw a daily average of 129 transits, according to the United Nations Trade and Development.

Amnesty International and dozens of U.S. civil and human rights groups issued a “ World Cup travel advisory” Thursday, warning tournament visitors of “rising authoritarianism and increasing violence” in the United States during President Trump’s aggressive immigration enforcement.

The groups said the advisory was necessary “in light of the deteriorating human rights situation in the United States and in the absence of meaningful action and concrete guarantees from FIFA, host cities, or the U.S. government.”

The advisory says visitors may be arbitrarily denied entry to the country, detained in “inhumane” conditions or subjected to invasive phone and social media searches. It points to the aggressive immigration surges in cities including Los Angeles, Chicago and Minneapolis that led to accusations of racial profiling and the violent suppression of protests.

The message was condemned by tourism officials, who said the groups were threatening the livelihoods of service industry workers in an attempt to achieve their political goals.

Geoff Freeman, president & CEO of the U.S. Travel Association, said there are legitimate concerns about U.S. entry policies but they’re being blown out of proportion. There were 67 million international travelers to the United States last year, he said in a statement.

“The notion that visiting America poses a meaningful safety risk is not a good-faith warning, it’s a political tactic designed to cause economic harm,” Freeman said.

A FIFA spokesperson pointed to several statements and policies, including the federation’s governing documents, which say, “FIFA is committed to respecting all internationally recognized human rights and shall strive to promote the protection of these rights.”

The U.S. has seen a decline in international travelers since Trump returned to the White House last year and offended U.S. allies with talk of making Canada a U.S. state, taking control of Greenland and questioning the value of NATO. The tourism industry is counting on a major boost from World Cup visitors, even as Trump’s travel ban for citizens of 19 countries has injected further uncertainty.

The administration is betting that its push to expedite visa processing for visitors and excitement about the tournament will outweigh concerns that Trump’s immigration messaging undercuts the theme of global unity that the World Cup is meant to represent.

The tournament kicks off June 11 with games spread across North America, including 11 stadiums in the U.S. along with two in Canada and three in Mexico.

Cooper writes for the Associated Press.

April 22 (UPI) — Amnesty International said Venezuela has not dismantled its “repressive apparatus” nearly four months after former President Nicolás Maduro was arrested in a U.S. military operation.

During the presentation of its annual report in Bogotá, the organization said the country’s system of repression remains fully operational under the interim government led by Delcy Rodríguez.

Valentina Ballesta, research director for the Americas at Amnesty International, said Tuesday that Venezuela’s repressive structure continues to operate despite the political transition, according to reports by Infobae.

According to the report, Maduro’s government maintained a policy of systematic repression throughout 2025, with all branches of the state acting in coordination.

Amnesty International said authorities continue to use arbitrary detentions, forced disappearances and torture as tools of social control.

“These are not isolated incidents, but rather a pattern that amounts to crimes against humanity,” the report said.

The organization documented hundreds of cases in which detainees faced judicial proceedings without basic legal guarantees, including ineffective public defenders, the use of special anti-terrorism courts, lack of access to charges and repeated violations of due process rights.

Amnesty International also criticized the implementation of the Amnesty Law approved in February, saying its enforcement has been arbitrary and selective.

Many requests for relief were rejected without explanation, while some people initially granted benefits later had those measures reversed, according to Venezuelan news outlet Efecto Cocuyo.

While the nongovernmental organization Foro Penal and other groups confirmed the release of 673 political prisoners between Maduro’s capture and mid-April, Rodríguez’s government has reported much higher figures as part of what it described as “peace and reconciliation” measures.

In March 2026, government spokespeople said as many as 7,000 people had been granted full release or alternative legal measures. That figure, however, includes common criminals and people already serving conditional release.

Foro Penal said nearly 500 political prisoners remain in detention.

The Amnesty International report said impunity remains the driving force behind Venezuela’s repressive system and warned that the lack of an independent judiciary prevents victims from obtaining justice inside the country.

Analist also pointed to the recent restructuring of the Attorney General’s Office as an example of political control. The move replaced an official close to Maduro with another figure aligned with the Rodríguez political faction, which currently controls both the interim presidency and the National Assembly.

About 7.9 million Venezuelans have fled the country since 2015. Nearly 2 million people depend on international humanitarian aid, while severe shortages in basic services such as water, electricity and food persist, the report said.

Amnesty International further warned about the growing use of new technologies and artificial intelligence for population surveillance, along with continued harassment of journalists and human rights advocates.

Without a genuine dismantling of coercive state structures, Amnesty International said, Venezuela will not be able to restore fundamental freedoms.