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Economy Apr 19, 2026

Yemen faces severe cash shortages despite Yemeni riyal stabilisation

Yemen's government has stabilised the Yemeni riyal, but a severe cash shortage has emerged, causing…
In Yemen, the government's efforts to curb the devaluation of the Yemeni riyal have led to a stabilisation of the currency, but have also created a severe liquidity crunch. The Central Bank of Yemen, based in the southern city of Aden, has implemented measures to control currency speculation and provide traders with hard currency.Despite these efforts, cash shortages have worsened, with people in government-controlled cities such as Aden, Taiz, and Mukalla struggling to access Yemeni riyals. Many are unable to convert foreign currency, such as US dollars or Saudi riyals, into local cash, leading to a thriving black market for currency exchange.The cash shortage has paralysed businesses and left many Yemenis unable to access their savings or use their hard currency. Mohammed Omer, a small grocery shop owner in Mukalla, said he has spent hours trying to convert Saudi riyals into Yemeni riyals, but has been unable to do so due to the cash shortage.The Yemeni government has acknowledged the cash shortage and approved short-term measures to address the problem. However, the crisis has highlighted the country's ongoing economic struggles, which have been exacerbated by the war between the Saudi-backed government and the Iran-aligned Houthis.
#Yemeni riyal #Central Bank of Yemen #Ministry of Finance Yemen
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Environment Apr 19, 2026

Venice seeks flood plan B as sea level rise threatens city's future

Venice is looking for a plan B to protect itself from flooding as sea levels rise, despite its Mose…
Venice, a city renowned for its rich history and cultural heritage, is facing an unprecedented threat from rising sea levels. The Mose flood defence system, which was launched in 2020, has saved the city from potential flooding 154 times. However, despite its success, the city authorities are already seeking a plan B due to the accelerating sea level rise.The Mose system, which stands for modulo sperimentale elettromeccanico (experimental electromechanic module), was designed to protect Venice from frequent acque alte (high waters) caused by storm surges. The system consists of massive, luridly coloured flood barriers sunk into the seabed at three inlets between the lagoon and the Adriatic. The barriers have been effective in preventing flooding, but their frequent use is damaging the lagoon's ecosystem.Rising sea levels due to the climate crisis mean engineers are forced to raise the flood barriers more frequently, which encourages an excess growth of algae. When the algae die, they decompose, sucking out all the oxygen in the water and killing off fish and other marine flora. The tides create a natural exchange of water and sediment between the Venice lagoon and the Adriatic, but the raised flood barriers block the flow of water, leading to a deterioration of the lagoon's ecosystem.Andrea Rinaldo, the head of the scientific committee of the newly appointed Lagoon Authority, warns that an estimated extra metre of sea level rise by the end of the century represents a 'death knell for the city'. He stresses that immediate action is necessary to prevent the city's destruction. 'You won't have a lagoon. You won't have a city. And all of this could happen in a timeframe that is comparable with the time that we had to design and build the Mose.'The city authorities are exploring alternative solutions, including redirecting Venice's economy away from its reliance on tourism, which is a major threat to the city. Rinaldo plans to put out a global call for ideas from leading thinkers across various disciplines to devise a proposal for the city's future.
#Venice #MOSE #sea level rise
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World Economy Apr 19, 2026

British Wine-Making Comes of Age: English Sparkling Wine Production Soars

The UK wine industry is experiencing rapid growth, driven by new growing methods and a shifting cli…
The English wine industry is undergoing a significant transformation, driven by advancements in growing methods and a changing climate. The Langham estate in Dorset, which began planting vines in 2009, has already produced award-winning wines that rival established European producers.Currently, the UK is home to over 1,100 registered vineyards, with production quadrupling since the turn of the century, according to property group Knight Frank. This growth has been fueled by new techniques and a shifting climate, which has made it possible to grow grapes commercially in Britain.Despite challenges posed by the climate crisis, including unreliable summers and disease affecting grape yields, the industry remains optimistic about its future. In 2025, English and Welsh producers reported their second-largest harvest on record, with 16.5m bottles produced, equivalent to 124,377 hectoliters.The industry is forecast to continue growing, with production expected to reach 25m-29m bottles by 2032 and the retail value of English and Welsh wines projected to reach £1bn by 2040. This growth has also led to an increase in employment, with around 10,000 people now employed in the UK wine industry, including 3,500 in full-time roles.Education and training are playing a crucial role in the industry's development, with institutions like Plumpton College in East Sussex offering courses in viticulture, winemaking, and hospitality. As the industry continues to mature, it is likely to provide even more opportunities for those interested in pursuing a career in wine.
#wine #grapes #says
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Politics Apr 19, 2026

UNICEF condemns Israeli strike that killed two water‑truck drivers delivering aid in Gaza

UNICEF denounced an Israeli attack that killed two contracted water‑truck drivers at Gaza's Mansour…
UNICEF said it is outraged after Israeli forces killed two drivers it had hired to deliver clean water at the Mansoura water filling point in northern Gaza on Friday morning, prompting the agency to halt activities there and demand a thorough investigation.The incident occurred during routine water‑trucking operations; two additional people were wounded. UNICEF immediately suspended all work at the site and urged Israeli authorities to ensure full accountability for the attack.In a statement, UNICEF emphasized that “humanitarian workers, essential service providers, and civilian infrastructure, including critical water facilities, must never be targeted,” underscoring that protecting aid personnel is a binding obligation under international humanitarian law.Palestinian health authorities report that more than 750 Palestinians have been killed by Israeli forces since the U.S.–Qatar‑brokered cease‑fire began in October, while overall death tolls in the Gaza conflict exceed 72,000 since the war erupted on October 7, 2023.Separately, in the occupied West Bank, a 25‑year‑old Palestinian man, Muhammad Ahmad Suwaiti, was shot dead by Israeli forces in Khirbet Salama, according to the Palestinian news agency WAFA.The Israeli military described the West Bank incident as the elimination of a “terrorist who infiltrated the community of Negohot in Judea and Samaria,” without specifying the responsible party.Since the Gaza war began, Israeli forces and settlers have killed more than 1,060 Palestinians in the West Bank, according to the Palestinian Ministry of Health, highlighting the widening humanitarian crisis beyond Gaza.
#UNICEF #Israel #Gaza
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Politics Apr 19, 2026

Mexico, Spain, and Brazil Urge Respect for Cuba's Sovereignty Amid US Pressure

The leaders of Mexico, Spain, and Brazil have pledged more aid to Cuba while calling for the island…
The leaders of Mexico, Brazil, and Spain have pledged more aid to Cuba, while appealing for the island nation's sovereignty to be respected amid an ongoing pressure campaign from United States President Donald Trump.The joint statement on Saturday was released as leftist leaders from across the globe met in Barcelona. The three countries expressed great concern about the serious humanitarian crisis that the people of Cuba are going through.The US has imposed a trade embargo on Cuba since Cold War tensions emerged in the 1960s. But the Trump administration has ratcheted up pressure on the island's communist government, in an apparent attempt to prompt leadership change.Since January, Trump has barred the import of oil from Venezuela. He also threatened other countries with sanctions if they deliver oil to Cuba, leading to fuel shortages and energy blackouts.The campaign against Cuba's government follows similar pressure tactics against Venezuela's former President Nicolas Maduro, who was abducted and imprisoned in a US military operation on January 3.Trump, meanwhile, has floated the removal of Cuba's President Miguel Diaz-Canel.In Saturday's statement, the governments of Mexico, Spain, and Brazil — represented by President Claudia Sheinbaum, Prime Minister Pedro Sanchez, and President Luiz Inacio Lula da Silva, respectively — warned against any actions that run contrary to international law.“We are committed to coordinating an increase in our humanitarian response, aimed at alleviating the suffering of the Cuban people,” the trio said.While the statement did not directly reference the US, it called for respect for territorial integrity, sovereign equality, and peaceful settlement of disputes, as outlined in the United Nations Charter.
#Mexico #Spain #Brazil
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World Economy Apr 18, 2026

Turkey Leverages Iran Conflict to Pitch Istanbul as a New Regional Investment Hub

Amid the Iran‑U.S. clash, Turkey is positioning Istanbul as a stable alternative for Gulf investors…
Turkey’s leadership sees the fallout from the Iran‑U.S. confrontation as a chance to rebrand the country as a secure gateway for capital flowing from the Gulf, even as the war has pushed up local fuel costs and forced the state to tap foreign‑exchange reserves to support the lira. While Iranian missiles have battered infrastructure in the United Arab Emirates, Saudi Arabia and Qatar, Turkey—shielded by NATO air defenses—has largely escaped direct attacks, allowing Ankara to promote a narrative of security and stability for businesses. President Recep Tayyip Erdoğan has openly framed the regional crisis as a catalyst for Turkey’s ambition to elevate Istanbul into a premier global financial centre. In a recent social‑media statement he echoed the sentiment that, just as the pandemic opened new opportunities, the current geopolitical shock will "open new doors" for the nation. Finance Minister Mehmet Şimşek confirmed that the government is drafting "radical" incentive packages aimed at attracting foreign capital, though details remain under wraps. Experts say the proposed measures could include tax exemptions for firms that route commodity trades through Turkish entities without physically importing goods, offering a meaningful fiscal advantage over traditional Gulf intermediaries. "A liberal investment climate, streamlined entry procedures and comprehensive incentives could boost Turkey’s standing," said Bilal Bağış, head of economics at Fatih Sultan Mehmet Vakıf University. The outlook is reinforced by the recent launch of the Istanbul Financial Center (IFC) in 2023, which promises a 100 % corporate‑tax exemption on export earnings until 2031. IFC officials report growing interest from both private firms and sovereign investors, especially from East Asian economies. "We are in close dialogue with Japan, South Korea and the United Kingdom," an IFC spokesperson told Al Jazeera, highlighting Istanbul’s "triple advantage" of geography, innovation and economic depth, with a claim that the city can reach 1.3 billion people and a $30 trillion market within a four‑hour flight. Nevertheless, Istanbul still lags behind regional rivals. The latest Global Financial Centres Index places it at 101st, far behind Dubai (7), Abu Dhabi (21), Doha (48) and Riyadh (61). The gap reflects persistent challenges: double‑digit inflation, a lira that loses roughly 20 % of its value against the dollar each year, and concerns over policy predictability. Analysts warn that without addressing structural issues—such as high bureaucracy, legal uncertainty and imported inflation—Turkey’s bid to become a financial hub may remain aspirational. "The math gets complicated fast for firms earning in multiple currencies while paying salaries in a depreciating lira," noted Gulf‑based adviser Güney Yıldız. Occupancy at the IFC is still below half, though officials aim for a 75 % fill rate by year‑end. Critics argue that Istanbul lacks the "tabula rasa" appeal of Dubai, where regulatory frameworks can be more readily shaped to investor preferences. Some scholars suggest that Turkey should view its strategy as a gradual positioning rather than a direct showdown with Dubai. Finance professor Hasan Dincer emphasized that long‑term investor confidence hinges on predictability and transparent policy, noting that the success of initiatives like the IFC will depend on sustained implementation.
#turkey #erdogan #nato
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Politics Apr 18, 2026

US Threatens Military Action Against Iran if Nuclear Deal Fails

US President Donald Trump warns that the US will resume military action against Iran if a nuclear d…
US President Donald Trump has issued a stern warning that the United States will resume military action against Iran if a nuclear deal is not reached. Speaking in a recent statement, Trump emphasized that the US will 'start dropping bombs again' if diplomatic efforts fail to produce a satisfactory agreement.The statement comes amid ongoing tensions between the US and Iran over the country's nuclear program. Trump's comments have sparked concerns about a potential escalation of conflict in the region.The US has been engaged in diplomatic efforts to revive the Iran nuclear deal, which was withdrawn from by the Trump administration in 2018. The deal, also known as the Joint Comprehensive Plan of Action (JCPOA), aimed to limit Iran's nuclear activities in exchange for relief from economic sanctions.Trump's warning has heightened concerns about a potential military conflict in the region, with many countries and international organizations calling for a peaceful resolution to the crisis.
#United States #Donald Trump #Iran
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Video Apr 18, 2026

UN Aid Chief Alerts to Imminent Full-Scale Famine Threat in South Sudan

The United Nations' top humanitarian official has warned that South Sudan faces the risk of a full-…
The United Nations' senior aid coordinator has issued a stark warning that South Sudan could be on the brink of a full-scale famine. The alert highlights the escalating food insecurity across the war‑torn nation and calls for immediate humanitarian assistance to avert a catastrophic humanitarian disaster. Urgent action from the global community is essential to deliver food, nutrition, and medical aid to vulnerable populations, whose livelihoods are already strained by ongoing conflict and displacement. The warning serves as a critical reminder of the fragile stability in the region and the potential socioeconomic fallout if the crisis deepens.
#aid #chief #warns
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Sports Apr 18, 2026

Bournemouth's Dramatic Late Win Exacerbates Newcastle's Crisis

Bournemouth secured a dramatic late win over Newcastle United, further exacerbating the crisis at S…
Bournemouth's 13-game unbeaten run in the league continues to impress, with Andoni Iraola's side showcasing fluid football and slick transitions that starkly contrasted with Newcastle's incoherent play.Eddie Howe's Newcastle United are now on a four-match losing streak, with their manager's vision of European qualification rapidly fading. The team's regression since their Champions League thrashing at Barcelona last month has been alarming.The match's turning point came when Anthony Elanga and Jacob Ramsey were replaced by Jacob Murphy and Bruno Guimarães. Guimarães's introduction lifted the team's mood, and he played a part in Will Osula's equalizing goal. However, Adrien Truffert's late winner secured the win for Bournemouth.This result highlights the growing concerns for Eddie Howe and his team, who have lost eight of their last 11 Premier League games. The pressure on Howe is mounting, especially with Andoni Iraola's impending departure from Bournemouth.
#Bournemouth #Newcastle United #Eddie Howe
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