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BUENOS AIRES, April 27 (UPI) — Argentina’s incentive program designed to attract large-scale investments, a key pillar of President Javier Milei economic agenda, is showing early signs of success through increased foreign currency flowing into the country.

In an economy in which hard currency shortages often shape government policy and financial stability, early results from the Large Investment Incentive Regime, known by its Spanish acronym RIGI, are being closely watched by government officials and financial markets.

According to figures from Argentina’s central bank, projects approved under the program generated a net inflow of $762 million through March. The funds entered the country directly and helped provide some stability to the exchange rate.

Gonzalo Brest, a legal partner at KPMG Argentina, told UPI the progress of the investment regime sends a positive signal for the country’s economy.

“In concrete terms, this could translate into more private-sector jobs, especially in areas such as construction, transportation, metalworking, logistics, energy and mining, along with greater economic activity in the provinces where the investments are established,” Brest said.

He added that the program’s impact could extend beyond employment and affect Argentina’s external accounts.

“If these projects move forward, Argentina could increase exports and generate greater foreign currency inflows — something that is critical for an economy that has historically faced external constraints and balance-of-payments pressures,” he said.

Brest said the RIGI program is also intended to address Argentina’s long-standing difficulty in attracting large-scale investment in capital-intensive industries that require stable rules over long periods.

“In the government’s view, the regime functions as a kind of ‘island of stability’ aimed at accelerating investment decisions that, without a special framework, would likely be postponed or relocated to other countries,” he said.

The program is primarily focused on sectors such as oil and gas, mining, renewable energy, ports and heavy industry, all with strong export potential. Brest said the initiative’s main goals are to boost exports, increase foreign currency inflows and create jobs.

Many of the proposed projects are tied to lithium, copper, gold, silver, liquefied natural gas and oil development in Vaca Muerta, one of Argentina’s largest shale oil and gas formations.

“These are sectors where Argentina has abundant resources, but needed greater certainty to turn them into production and exports,” Brest said.

He cautioned, however, that the program’s long-term success will depend on factors beyond the design of the regime itself, including macroeconomic stability, infrastructure, access to financing and public support for large-scale projects.

“Even so, the RIGI is already functioning as a strong signal to international markets that Argentina wants to compete for major investment capital,” he said.

The program has received more than 35 project proposals totaling more than $80 billion. Of those, 13 projects have received government approval, representing combined investments of more than $18 billion.

Among the latest proposals under review is the “Fértil Pampa” project led by Pampa Energía. The initiative calls for a nearly $2.4 billion investment to produce fertilizers in the industrial hub of Bahía Blanca in Buenos Aires province.

With these developments, the RIGI program is moving beyond its initial phase of announcements and expectations.

The next challenge will be determining whether the promised investments can be sustained over time and translated into real economic activity, jobs and a stable flow of foreign currency for a country seeking relief from one of its most persistent economic constraints.

April 22 (UPI) — A judge in rural Virginia on Wednesday blocked the results of Tuesday’s state referendum, barring lawmakers, at least temporarily, from implementing a new congressional map that favored Democrats in November’s midterm elections.

The five-page ruling by Judge Jack Hurley of the Tazewell County Circuit Court sided with the Republican National Committee, which was challenging the results of Tuesday’s special election.

On Tuesday, 51.4% of the more than 3 million Virginians who voted approved amending the state’s Constitution to permit a mid-decade congressional district map redraw, according to unofficial results from the Virginia Department of Elections.

The new map is expected to favor Democrats to win 10 of the state’s 11 congressional districts. The Democrats currently hold six of the state’s 11 congressional seats and Republicans hold five.

Hurley agreed with each of the RNC’s claims, including that the legislation supporting the map redraw violated General Assembly rules and that the question voters were asked — “Should the Constitution of Virginia be amended to allow the General Assembly to temporarily adopt new congressional districts to restore fairness in the upcoming elections” — was “a flagrantly misleading question to the voters, and because the ballot language did not accurately describe the proposed amendment as it was passed by the General Assembly.”

The order declares that all votes from the referendum are “ineffective,” and the state is enjoined from certifying them and instituting the new congressional district map.

“This ruling is a major victory for Virginians,” RNC Chair Joe Gruters said in a statement.

“Democrats attempted to force an unconstitutional scheme to tilt congressional maps in their favor, but the court recognized it for what it is — a blatant power grab.”

Virginia said it will immediately appeal the ruling.

“As I said last night, Virginia voters have spoken, and an activist judge should not have veto power over the people’s vote,” Virginia’s Democratic attorney general, Jay Jones, said in a statement.

“We look forward to defending the outcome of last night’s election in court.”

Virginia Democrats first moved for a mid-decade congressional map redraw in the fall after Texas, under pressure from President Donald Trump, approved a map expected to favor Republicans, kicking off a gerrymandering arms race. Four Republican-led states have approved new maps compared with two Democratic-led states, though several other states under majority leadership of each party are seeking to do likewise.

Trump — who has repeatedly warned Republicans that losing the House in November could lead to his impeachment — has taken several executive actions, including tightening voting regulations, that could affect November’s midterms and that Democrats and critics argue are unlawful measures that could help Republicans maintain their narrow House majority.

He has also repeatedly cast doubt on election legitimacy.

On Wednesday, Trump made unfounded claims that the Virginia referendum was “RIGGED,” citing mail-in voting, a common voting practice that the president has targeted as a vehicle for election fraud, though Trump himself has voted by mail in Florida.

“The Democrats eked out another Crooked Victory,” he said in a statement on his Truth Social media platform before Hurley’s ruling. “Let’s see if the Courts will fix this travesty of ‘Justice.'”

Hurley previously ruled to block the Democrats’ redistricting plan twice, though the Supreme Court of Virginia allowed the referendum to move forward amid litigation.

Democratic-led states California and Virginia pursued their redraws through voter-approved ballot measures, while GOP-led Texas, Missouri, Ohio and North Carolina passed actions through their Republican-controlled state institutions, without voter-approved measures.

Virginia voters have narrowly approved a referendum to redraw the state’s congressional map, with about 51.5 percent voting yes and 48.6 percent voting no, and 97 percent of ballots counted, according to The Associated Press news agency.

The map redraws the boundaries of Virginia’s congressional districts, changes that can directly shape which party wins seats in the United States House of Representatives.

With most votes counted, the result remained close, but Democratic-leaning areas helped push it through.

The vote is part of a broader national fight over district lines – a battle that could decide who controls Congress.

Republicans in Florida, for instance, are planning a special session of the state legislature next Tuesday where they are expected to seek to redraw their state’s political map – a move that could help them gain as many as five seats, potentially wiping out any Democratic gain in Virginia.

Here are five key takeaways:

Democrats gain a major advantage in the House race

Currently, Virginia sends 11 members to the US House. At the moment, they comprise six Democrats and five Republicans.

The new map changes how those seats are drawn. By reshaping district boundaries, it makes most areas more favourable to Democrats by clumping together voters who lean towards the party strategically, while splintering communities that typically vote Republican.

• Eight districts would be safely Democratic
• Two would be competitive but lean Democratic
• Only one would be safely Republican.

Because of this, Democrats could realistically win at least eight and possibly up to 10 of the 11 seats in the US house, instead of just six.

This shift follows a high-stakes political battle, with total spending estimated at $100m.

Democratic leaders, including Virginia Governor Abigail Spanberger, framed the new map as a direct response to efforts by US President Donald Trump and Republicans to redraw districts in their favour in other states.

However, even with this win, “there’s no guarantee they’ll send a delegation dominated by Democrats to Washington,” Al Jazeera’s Rosiland Jordan said, reporting from Virginia.

There are still six months until the midterm elections, and voter behaviour can shift. Even favourable maps can produce unexpected outcomes.

Virginia is one part of a bigger battle

Virginia is just one part of a bigger fight over who controls the US House.

After the 2024 election, Trump pushed Republican-led states to redraw congressional maps before the usual timeline to improve their chances in the 2026 midterms.

Republicans moved first in states like Texas, where new maps could give them up to five more seats.

Democrats responded with their own moves. In California, voters approved a plan backed by Governor Gavin Newsom that allowed lawmakers to draw a new, more partisan map. This is expected to give Democrats up to five extra seats.

The Virginia result fits into this bigger picture. If Democrats gain up to four seats there, it could help cancel out Republican gains in other states.

But the fight is not over. More changes could still happen, including in Florida, where Governor Ron DeSantis is looking at redrawing the map.

“Virginia just changed the trajectory of the 2026 midterms,” Democratic state House Speaker Don Scott said in a celebratory statement.

“At a moment when Trump and his allies are trying to lock in power before voters have a say, Virginians stepped up and levelled the playing field for the entire country.”

Legal challenges could still overturn the result

The measure has been approved by voters, but its future is still uncertain.

The Supreme Court of Virginia is expected to review ongoing legal challenges that could affect whether the new map takes effect. While the court allowed the vote to go ahead, it said it would examine the case in full if the measure passed.

The challenges focus on two key issues: Whether Democratic lawmakers followed the correct legal process when putting the proposal forward, and whether the wording on the ballot may have been misleading to voters.

A narrow win

Both parties were watching the vote closely.

Democrats were happy to win, even if it was close. Republicans, meanwhile, were relieved it wasn’t a big loss.

“Virginia Democrats can’t redraw reality,” said Republican Congressman Richard Hudson. “This close margin reinforces that Virginia is a purple state that shouldn’t be represented by a severe partisan gerrymander.”

Gerrymandering is the process of redrawing electoral maps in ways that can benefit one party over another.

Democrats said the tight result was partly down to voter confusion, which they blamed on Republican messaging. Democrats framed the effort as a response to Trump, promoting the plan with advertisements featuring former US President Barack Obama.

Opponents pushed back by pointing to past comments from Obama and Spanberger, both of whom have previously criticised gerrymandering, using that to question the Democrats’ position.

Gerrymandering is at the centre of the fight

The vote highlights the growing importance of partisan map-drawing in US politics.

Democrats say this balances Republican advantages elsewhere. Republicans call it a power grab in a competitive state.

Either way, redistricting is now a key tool shaping election outcomes, not just reflecting them.

The EU’s election observer said the vote met democratic standards despite fraud allegations.

Peru’s presidential election result will not be finalised until mid-May, with challenged ballots from last Sunday’s vote still being reviewed, says the electoral authority.

With 93 percent of ballots counted, right-wing candidate Keiko Fujimori leads with 17 percent, according to officials.

Under Peru’s electoral system, the top two candidates advance to a second-round runoff. A close contest has emerged for second spot between left-wing candidate, Roberto Sanchez on 12 percent, and ultra-conservative Rafael Lopez Aliaga close behind on 11.9 percent.

The margin between the two widened slightly on Saturday to about 13,600 votes.

Yessica Clavijo, secretary general of the National Jury of Elections (JNE), said the delay was due to the review of more than 15,000 challenged ballots. About 30 percent concern the presidential race, the rest relate to legislative elections.

Lopez Aliaga, a former mayor of the capital Lima, has been the most vocal critic of the delay. He has alleged fraud without presenting evidence and called for the election to be annulled. He urged supporters of his Popular Renewal Party to protest on Sunday.

Sanchez also criticised the election process, telling reporters: “These serious organisational issues must be investigated and there must be appropriate sanctions”.

A record 35 candidates ran for president in Peru, a country that has faced years of political instability. Four of its last eight presidents have been impeached by Congress.

Voting was disrupted by delays in the delivery of election materials, forcing authorities to extend polling into Monday in parts of Lima.

Despite the setbacks, the European Union’s election observer mission said the vote met democratic standards. On Friday, prosecutors raided a warehouse belonging to the National Office of Electoral Processes (ONPE), the body responsible for organising the election. Four officials have been reported to the JNE over alleged offences linked to voting rights.

Prior to the Supreme Court’s 2015 Obergefell decision, opponents raised alarms about the severe and immediate harms that would surely occur if marriages between same-sex couples were recognized nationally. Afterward, when those harms failed to materialize, those voices grew quieter, but some have been returning with renewed vigor, in hopes that the current Supreme Court, after overturning Roe vs. Wade, may be willing to overturn the Obergefell decision as well — though the justices declined to do so in November.

To build public support for rolling back marriage rights, new campaigns have been repeating the claims that legal recognition of same-sex marriages may harm children or even the stability of different-sex marriages. These are some of the same concerns that were raised in the years prior to the Obergefell decision. They were groundless then, and, more than 10 years later, the data confirm these fears to be unfounded.

In 2024, for the 20th anniversary of the first legal marriages of same-sex couples (in Massachusetts), my lab at UCLA joined with a team of researchers at Rand Corp. to review what social scientists learned over those two decades about the consequences of legalizing same-sex marriage.

We addressed this question in two ways. First, we searched through the research literature to find every published study that had examined the consequences of legalizing same-sex marriage. Prior to 2015, states legalized and prohibited same-sex marriage at different times, and social scientists tracked a wide range of outcomes, including the well-being of children, national trends in marriage and divorce, and the physical and mental health of same-sex couples. Opponents of legalizing same-sex marriage predicted, in the strongest terms, that people would suffer after same-sex couples were granted the right to marry.

After 20 years of legalized marriage for same-sex couples, 96 independent studies confirm there is no evidence for the harms critics predicted. Our review identified not a single study that observed significant negative consequences of legalizing same-sex marriage. Instead, the research literature identified many significant positive consequences.

For same-sex couples, legal recognition of their marriages was followed by more stable relationships, increased mental and physical health, greater financial stability, and stronger connections to family. For the children of those couples, our review found no documented negative outcomes, but legal recognition of their parents’ marriages did result in more children obtaining access to health insurance. And what about the rest of the country? States that recognized same-sex marriages prior to Obergefell experienced economic gains and considerable savings in healthcare costs relative to states that did not.

One of the most striking predictions of the opponents of same-sex marriage was that recognizing marriage among same-sex couples would weaken commitment to the institution of marriage among different-sex couples. That did not happen either.

To address this question, our report conducted new analyses, drawing on census data and other sources to determine whether state-level rates of marriage, cohabitation and divorce changed in the states that recognized same-sex marriage, compared with states that did not. No matter how we conducted the analyses, we could find no effects of recognizing same-sex marriage on any of these outcomes. It makes sense: When different-sex couples are making personal decisions about their own relationships, they are not paying much attention to what same-sex couples are doing.

If any harm resulted from allowing same-sex couples to marry, it ought to be well documented by now. The fact that there has been no evidence of harms despite considerable effort to find some suggests that the predictions made by opponents of legalizing same-sex marriage were unwarranted at the time. Now that we have 20 years of research and experience, those predictions remain unwarranted now.

Benjamin Karney is a professor of social psychology at UCLA.

Markets face a sobering Monday after weekend optimism over a peace talks breakthrough faded. Investors are bracing for a high-impact week shaped by geopolitics, inflation data and the start of earnings season.

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Oil prices resumed their climb, with international benchmark Brent crude and the US benchmark WTI trading above $100 a barrel. On Monday morning in Europe, Brent front-month futures were up 7%, trading at nearly $102 a barrel, while WTI gained nearly 8% and surged to $104.

This comes as the US military prepares to blockade ships entering or leaving the Strait of Hormuz, where much of the shipping has been disrupted by Iran since the start of the war.

US President Donald Trump announced the planned blockade after US-Iran ceasefire talks in Pakistan ended without agreement. The military said the blockade covering all Iranian ports would begin Monday at 10 am CET (5:30 pm local time in Iran).

Oil prices have been climbing as shipping through the Strait has essentially stalled since late February. Brent crude has risen from roughly $70 a barrel before the war to more than $119 at times.

“Markets have seen a clear risk-off move this morning,” a Deutsche Bank Research analysts said in a note, adding that “the mood has shifted negatively once again.

“Oil prices have revived fears of a stagflationary shock, with equities and bonds losing ground globally.

Hungarian election and the forint

The Hungarian forint took the spotlight in currency trading after Péter Magyar and his Tisza Party won a landslide election, ending the 16-year rule of Viktor Orbán’s Fidesz party.

The euro was trading at 366.18 forints before European markets opened on Monday, a sharp drop from 377.56 late Sunday. The Hungarian stock index rose 2.85% on Monday morning, bucking the negative sentiment weighing on markets across the bloc.

Investors see Magyar’s Tisza Party pushing Hungary in a more pro-EU direction, with a higher likelihood of restoring rule-of-law alignment and closer cooperation with Brussels.

Elsewhere in currency markets, the euro weakened against the dollar to $1.1692 in European morning trading. The British pound also fell against the dollar, down 0.3% at $1.3416.

Stock markets face a turbulent session

Stock markets in Europe opened in negative territory, with London’s FTSE 100 opening down 0.4%, the DAX in Frankfurt falling 1%, and Paris’s CAC 40 down nearly 0.9%.

Stock markets were also down in Asia on Monday. Japan’s benchmark Nikkei 225 lost 1.0% in morning trading to 56,357.40. Australia’s S&P/ASX 200 shed 0.5% to 8,913.50. South Korea’s Kospi dipped 1.1% to 5,795.15. Hong Kong’s Hang Seng slipped nearly 1.5% to 25,513.42, while the Shanghai Composite fell 0.2% to 3,976.57.

Analysts said global trading was expected to remain turbulent for some time.

“The outcome of the talks was not really what people were hoping for, that’s for certain,” Neil Newman, Managing Director and Head of Strategy at Astris Advisory Japan, said in Hong Kong.

“As we stand here at the moment, it doesn’t look very nice. Certainly, the oil prices are a big concern.”

Wall Street ended last week with a second weekly gain in a row. The S&P 500 inched 0.1% lower on Friday after a day of choppy trading.

The Dow Jones Industrial Average fell 0.6% and the Nasdaq Composite rose 0.4%. But those gains came amid optimism over weekend peace talks in Pakistan that was later shattered by subsequent developments.

The yield on the 10-year Treasury climbed to 4.32% last Friday from 4.29% late Thursday.

In currency trading, the US dollar gained to 159.74 Japanese yen from 159.25 yen. The euro cost $1.1687, down from $1.1729.

What markets are watching this week

Markets are entering a busy week, with all eyes still on developments around the Strait of Hormuz and the broader implications of the Iran conflict.

In the US, investors are watching the first major wave of corporate earnings reports, including those of big banks and tech companies, with JPMorgan, Goldman Sachs and Bank of America, ASML and TSMC reporting this week.

This is set against a backdrop of key US inflation and producer price data, as well as jobless claims. These figures are critical for gauging whether the Federal Reserve is moving closer to rate cuts.

Meanwhile, the IMF–World Bank Spring Meetings in Washington begin this week.

The latest World Economic Outlook from the IMF, out on Tuesday, will also be of interest, and could offer further insight into how these institutions are assessing the global economy’s resilience amid geopolitical tensions in the Middle East.

In Europe, investors are focused on PMI and industrial activity data, which will provide insight into whether the eurozone economy is stabilising or still struggling with weak demand.

Jonny Clayton came from 5-2 down to beat Michael van Gerwen 6-5 and claim his third nightly win to move top of the Premier League.

Van Gerwen missed four match darts in total as the Welshman reeled off four straight legs to take the win in Brighton.

Victory takes Clayton, who began the evening in third, three points above Luke Littler after the world champion was beaten by Stephen Bunting in the quarter-finals and failed to add to his points tally.

While Van Gerwen had the edge both in terms of average and checkout percentage in the final, Clayton produced when it mattered as he made the seven-time champion pay for failing to wrap up the match at 5-2 and 5-4 and forced a decider.

Clayton then finished it in style, hitting two 180s in the leg before sealing it on double 16.

“I thought the game was over at 5-2 up for Michael,” Clayton told Sky Sports.

“He missed, he gave me a chance. You’ve got to take chances. That last leg was probably my best of the game.

“I’m back on top of the table, Luke Littler can start chasing me again.”

Despite falling just short of a first nightly win since the opening week in Newcastle, Van Gerwen’s run to the final helped him shore up his play-off place and open up a four-point gap to fellow Dutchman Gian van Veen in fifth.

Congolese President Denis Sassou Nguesso’s election success will extend his nearly 42 years in power.

Republic of Congo President Denis Sassou Nguesso has been re-elected for a fifth consecutive term, extending his nearly 42 years in power, according to provisional results.

On Tuesday, Interior Minister Raymond Zephirin Mboulou announced on state TV that Sassou Nguesso received 94.82 percent of Sunday’s vote.

State television also reported turnout of 84.65 percent; however, many polling stations in the capital, Brazzaville, on Sunday had short lines or no lines at all.

Sassou Nguesso, 82, was projected by analysts and diplomats to easily win the election after he ran against six candidates who were less well known.

Boycott

Two key parties had boycotted the elections over allegations of unfair electoral practices, with two of the best-known opposition figures, General Jean-Marie Michel Mokoko and Andre Okombi Salissa, imprisoned for nearly 10 years.

But in the run-up to the election, the internet was shut down as usual during a presidential vote, and traffic was restricted across the capital.

Clarisse Massamba, a teacher who voted at the Lyce Javoueh in Brazzaville, told The Associated Press news agency that it was a given that Sassou Nguesso would win the election.

“Everyone knows that, faced with his six inexperienced opponents, President Denis Sassou Nguesso will be re-elected with a high score as usual. Since the election is not a big issue, we shouldn’t cut off communication,” Massamba said.

During the campaign period, Sassou Nguesso and his opponents were mismatched with the incumbent president, the only candidate to travel around the country to canvass voters, with effigies placed in the capital.

Moreover, Joe Washington Ebina, a Congolese human rights activist, told the Reuters news agency that human rights activists were arrested, ⁠several opposition parties were suspended, and ⁠public gatherings were closely monitored in the run-up to the election.

Decades in power

Republic of Congo continues to struggle with high international debt, which, according to the World Bank, stands at 94.5 percent of its gross domestic product, despite being an oil and mineral-rich country.

Sassou Nguesso, who runs the Congolese Party of Labour, first came to power in 1979 and ruled until 1992.

In 1997, Sassou Nguesso returned to power as militia leader following a four-month civil war. In 2015, a constitutional referendum removed presidential age and term limits, allowing him to run again.

CIF STATE BASKETBALL CHAMPIONSHIPS

At Golden 1 Center, Sacramento

FRIDAY’S RESULTS

Boys

DIVISION I

Damien 58, Folsom 55

DIVISION III

Antioch Cornerstone Christian 74, Birmingham 64

DIVISION V

San Marin 89, Sylmar 64

Girls

DIVISION I

Corona Centennial 73, Clovis 66

DIVISION III

Placentia El Dorado 42, San Jose Valley Christian 40

DIVISION V

Woodland Christian 63, Laguna Hills 30

SATURDAY’S SCHEDULE

Boys

OPEN DIVISION

Sierra Canyon (29-1) vs. Richmond Salesian (29-3), 8 p.m.

DIVISION II

Bakersfield Christian (24-11) vs. San Joaquin Memorial (27-7), 4 p.m.

DIVISION IV

San Juan Hills (21-14) vs. Atherton Sacred Heart Prep (20-11), 12 p.m.

Girls

OPEN DIVISION

Ontario Christian (33-2) vs. Archbishop Mitty (28-2), 6 p.m.

DIVISION II

Santa Maria St. Joseph (17-15) vs. Sierra Pacific (24-11), 2 p.m.

DIVISION IV

Palisades (16-13) vs. Yuba City Faith Christian (33-1), 10 a.m.

HIGH SCHOOL BASKETBALL
SOUTHERN CALIFORNIA REGIONALS

TUESDAY’S RESULTS
FINALS

BOYS

OPEN DIVISION
#1 Sierra Canyon 63, #2 Harvard-Westlake 57

DIVISION I
#6 Damien 48, #4 St. John Bosco 41

DIVISION II
#3 Bakersfield Christian 59, #8 Palisades 57

DIVISION III
#3 Birmingham 73, #5 Colony 58

DIVISION IV
#3 San Juan Hills 74, #1 Tulare Union 66

DIVISION V
#2 Sylmar 66, #1 Coalinga 58

GIRLS

OPEN DIVISION
#2 Ontario Christian 73, #4 Sage Hill 51

DIVISION I
#5 Corona Centennial 81, #2 Rancho Christian 61

DIVISION II
#2 Santa Maria St. Joseph 60, #4 Saugus 55

DIVISION III
#2 Placentia El Dorado 61, #5 Leuzinger 56

DIVISION IV
#5 Palisades 54, #2 Godinez Fundamental 38

DIVISION V
#4 Laguna Hills 43, #6 Schurr 24

Note: State Championships are March 13-14 at Golden 1 Center in Sacramento.