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World Economy Apr 12, 2026

Global Markets on Edge as US-Iran Talks Collapse, Fueling Fears of Prolonged Energy Crisis

The collapse of US-Iran talks has heightened fears of a prolonged energy shock, with oil prices flu…
The collapse of talks between the US and Iran has sent shockwaves through global markets, fuelling fears of a prolonged energy crisis and rising inflation. The failure to reach a peace deal has left large numbers of oil tankers stuck in the Persian Gulf, with oil prices fluctuating wildly in response to the uncertainty.US Vice-President JD Vance has blamed the collapse of the talks on Tehran's refusal to abandon its nuclear weapons programme, while Iranian sources have hit back at what they describe as 'excessive' demands from Washington. The stalemate has raised concerns about the long-term impact on the global economy, with governments and central banks warning of higher inflation and interest rates.Mohamed El-Erian, an adviser to Allianz, has cautioned that uncertainty will continue to dominate assessments of the financial impact from the conflict. 'Absent a swift resumption of negotiations, the immediate reaction of financial markets when they open for the trading week will be to push oil prices higher and borrowing costs higher,' he said.The International Monetary Fund and World Bank's spring meetings in Washington will focus on the war's impact on the global economy, with the IMF's managing director, Kristalina Georgieva, indicating that the fund will present three scenarios predicting lower economic growth and higher inflation. The IMF is also expected to highlight the impact on vulnerable economies.In the short term, oil prices have ended the week lower, with Brent crude at $94.26 a barrel and West Texas Intermediate crude at $95.63 a barrel. However, global stock markets have rebounded after a temporary ceasefire was announced, with the S&P; 500 close to its level before the US-Israeli attacks on Iran began.
#oil #week #attacks
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Music Apr 12, 2026

Bollywood Legend Asha Bhosle Dies at 92, Capping a Seven‑Decade Career of Over 12,000 Songs

Renowned playback singer Asha Bhosle, who shaped Bollywood’s soundscape for nearly eight decades an…
Asha Bhosle, the iconic voice of Bollywood, passed away at age 92 after being hospitalized in Mumbai with severe exhaustion and a chest infection, her family confirmed.Her son, Anand Bhosle, told reporters that his mother died on Sunday and that her last rites would be performed the following day at Shivaji Park in Mumbai.Over a career that stretched across nearly eight decades, Bhosle recorded more than 12,000 songs, pioneering cabaret and Western‑influenced styles that broadened the sonic palette of Indian cinema.India’s Prime Minister Narendra Modi expressed deep sorrow, noting that her "extraordinary musical journey" enriched the nation’s cultural heritage and will continue to inspire future generations.Born on 8 September 1933 into a musical family, she was the younger sister of the celebrated vocalist Lata Mangeshkar, often referred to as “India’s nightingale.” While comparisons were inevitable, Bhosle forged a distinct path, embracing genres from pop to folk.Her early years were marked by hardship, including a turbulent marriage at the age of 16, yet she rose to become one of Indian cinema’s most versatile singers, earning the prestigious Dadasaheb Phalke Award in 2000 and receiving two Grammy nominations.Even in her later years, Bhosle remained artistically active, collaborating with the British virtual band Gorillaz on their album The Mountain, demonstrating her enduring global appeal.Beyond music, she pursued a passion for cuisine, establishing the Asha’s restaurant chain in Dubai and the United Kingdom, further cementing her status as a cultural entrepreneur.Agence France‑Presse and Associated Press contributed to this report.
#her #bhosle #she
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News Apr 12, 2026

Palestinian Youth Killed in Settler Raid on Deir Jarir Amid Surge of New West Bank Settlements

A 23‑year‑old Palestinian man was fatally shot by Israeli settlers during a raid on Deir Jarir, a v…
Ali Majed Hamadneh, 23, was killed after Israeli settlers opened fire during a raid on the West Bank village of Deir Jarir, north‑east of Ramallah, the Palestinian Ministry of Health reported on Saturday. He was transported to the Palestine Medical Complex in critical condition and later succumbed to his gunshot wounds.The Palestinian news agency Wafa described the attack as carried out by "armed colonists, under the protection of Israeli forces," who entered the village from its western entrance and fired on residents. The Israeli military has not issued an immediate comment.This raid occurs just two days after Israel approved 34 new settlements in the occupied West Bank, a move denounced by the Palestinian Presidency, the Organisation of Islamic Cooperation and the European Union as a breach of international law.Since assuming office in 2022, Prime Minister Benjamin Netanyahu's right‑wing government has sanctioned at least 102 settlements, a marked increase compared with previous administrations. All Israeli settlements in the occupied West Bank are considered illegal under international law.Violence in the West Bank has escalated sharply since Israel's war in Gaza began in October 2023, and a further spike in deadly settler attacks has been reported since the United States‑Israel conflict with Iran started at the end of February, according to Palestinian authorities and the United Nations.While settler assaults have persisted for years, the recent surge has drawn criticism from influential rabbis, settler leaders, and Israel’s military chief Eyal Zamir, who labeled the attacks "morally and ethically unacceptable."
#israeli #west #bank
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Politics Apr 11, 2026

Libya Unites with First Unified Budget in Over a Decade

Libya's rival legislative bodies have approved a unified state budget for the first time in over a …
Libya has taken a significant step towards economic stability with the approval of its first unified budget in over a decade. The Central Bank of Libya confirmed that both the eastern-based House of Representatives (HoR) and the Tripoli-based High Council of State have endorsed the budget. This development is seen as a rare moment of cooperation in a country divided by conflict since the 2014 civil war. The unified budget was signed in the capital, Tripoli, where the internationally recognized Government of National Unity is based under Prime Minister Abdul Hamid Dbeibah. Governor Naji Issa described the agreement as a 'clear declaration that Libya is capable of overcoming its differences when a unified vision for its future is forged.' Libya has remained split since the 2014 civil war, which created rival administrations in the east and west. The last time the country operated under a single national budget was in 2013. The deal brings together institutions that have long competed for authority, with representatives from both sides signing the agreement. Despite this breakthrough, political divisions remain entrenched. In the east, forces loyal to Khalifa Haftar maintain control over large parts of the country, including key oil-producing regions. The timing of the agreement is significant, given Libya's growing importance in global energy markets. Demand for its crude has increased amid disruptions linked to the Israel-US war on Iran and the blockade of the Strait of Hormuz. Libya's geographic position offers a critical advantage, as oil shipments from its ports reach European refineries quickly and avoid the risks associated with Gulf routes. Its light, sweet crude also meets the needs of European refiners facing ongoing supply challenges. This development signals a shift towards more formal cooperation, even as Libya's political fragmentation persists.
#Libya #House of Representatives #Government of National Unity
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News Apr 11, 2026

Benin’s 2026 Presidential Vote Pits Economic Continuity Against Security and Democratic Concerns

Benin’s presidential election on April 12 will likely deliver a smooth transition to finance minist…
Benin is set to choose a new head of state on Sunday, April 12, 2026, in an election that appears to favor the governing coalition’s nominee, finance minister Romuald Wadagni. The 49‑year‑old, a former Deloitte executive, has been hand‑picked by outgoing President Patrice Talon, who is constitutionally barred from seeking a third term after a decade in power. With roughly eight million eligible voters on the rolls, the contest requires a candidate to secure more than 50 % of the vote; otherwise a runoff would be scheduled for May 10. In practice, only two names appear on the ballot: Wadagni, representing the Progressive Union Renewal‑Republican Bloc alliance, and Paul Hounkpe, the 56‑year‑old former teacher and culture minister who runs under the Cowry Forces for an Emerging Benin (FCBE) banner. Wadagni’s campaign emphasizes continuity of Talon’s economic reforms. Under Talon, Benin’s budget tripled and the country posted its strongest GDP growth in over twenty years, with the International Monetary Fund estimating a 7 % expansion in 2025. Investment in trade, agriculture and the Cotonou port has driven this performance, though benefits remain uneven, especially in the poorer northern regions. Security concerns dominate the northern frontier, where al‑Qaeda and IS‑linked militias from the Sahel have intensified cross‑border raids. Recent attacks by the JNIM network killed 54 soldiers in 2025 and another 15 in early 2026. A failed coup attempt in December 2025, allegedly motivated by neglect of troops in the north, left about 100 suspects awaiting trial. Wadagni has pledged to create municipal police forces to protect border towns, while Hounkpe warns that the current administration has sidelined citizens despite macro‑economic gains. Beyond economics and security, the election raises questions about Benin’s democratic health. Talon’s government has been criticized for suppressing protests, extending presidential terms from five to seven years, and enabling the president to appoint Senate members—moves that have effectively eliminated opposition representation. In the January parliamentary vote, Talon’s allies captured all 109 seats, and the main opposition party, the Democrats, failed to field a presidential candidate. Observers note that voter turnout will be a key barometer of public sentiment. The last presidential election saw only about 50 % participation. Al Jazeera reporter Ahmed Idris described the atmosphere at a governing‑party rally in Cotonou as “lively,” but cautioned that it may not reflect the broader mood in a nation where democratic space appears to be shrinking. Should Wadagni win, he pledges to build on a decade of “economic transformation,” expanding development hubs and healthcare access while maintaining fiscal discipline. Hounkpe, positioned as a moderate alternative, promises to lower basic commodity prices and secure the release of political prisoners detained under Talon’s rule. The outcome will shape Benin’s trajectory at a critical juncture: balancing sustained economic growth, confronting escalating security threats from the Sahel, and navigating the tension between authoritarian tendencies and the country’s reputation as one of West Africa’s more stable democracies.
#benin #talon #country
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News Apr 11, 2026

Israel Criticizes South Korea's President Over Video of Palestinian Abuse

Israel has criticized South Korean President Lee Jae Myung for sharing a video of Israeli soldiers …
Israel has criticized South Korean President Lee Jae Myung for sharing a video of violence against Palestinians by the Israeli army. The video, verified by Al Jazeera, shows Israeli soldiers pushing an apparently lifeless Palestinian man from a rooftop in the occupied West Bank town of Qabatiya in September 2024.Lee Jae Myung raised concerns about documented abuses committed by Israeli forces, posting on X: "I need to look into whether this is true, and if so, what measures have been taken." The Palestinian ministry of foreign affairs described the incident as a "crime" that exposes the Israeli army's "brutality".Israel's foreign ministry responded, saying the case had been "investigated and addressed", without providing details on any punishments for the soldiers involved. Data from Action on Armed Violence shows that Israel has closed 88% of investigations into abuses by its forces in Gaza and the occupied West Bank without charges or findings of wrongdoing.The incident has sparked a public row between Israel and South Korea, with Israel's foreign ministry accusing Lee of spreading "anti-Israeli" news. South Korea's foreign ministry attempted to ease tensions, saying Lee's comments reflected a broader appeal for "universal human rights".Lee doubled down on Saturday, responding to Israel's criticism with a pointed reply: "It's disappointing that you don't even once reflect on the criticisms from people around the world who are suffering and struggling due to relentless anti-human rights and anti-international law actions."
#israeli #israel #palestinians
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News Apr 11, 2026

Israeli Strikes on Gaza Strip Kill at Least Seven Palestinians

Israeli strikes across the central and southern Gaza Strip have killed at least seven Palestinians …
At least seven Palestinians have been killed and others wounded in Israeli strikes across the central and southern Gaza Strip. An Israeli drone fired two missiles close to a police post in Bureij refugee camp in central Gaza, killing and wounding several people.Medical sources confirmed the early morning attack to Al Jazeera, saying the strike hit a group of civilians in the 'Block 9' area of Bureij. Several people were killed and seriously wounded, they said.Ambulance crews faced difficult conditions as they worked to transport the bodies and those injured to nearby hospitals, the sources added. The al-Aqsa hospital in central Gaza received six bodies and seven wounded people, including four in critical condition.Separately, in the southern Gaza Strip, Nasser Medical Complex received three wounded people following an Israeli drone strike against a tent of displaced people in the town of Bani Suheila, located east of Khan Younis.Al Jazeera's correspondent on the ground also reported Israeli artillery shelling and heavy tank fire near Bani Suheila and east of Gaza City.Israel's genocidal war on Gaza has killed more than 72,300 people since it began in October 2023, according to the Gaza Ministry of Health, including at least 738 since the so-called ceasefire went into effect last October.The tally includes at least 32 deaths since the start of April alone – among them Al Jazeera journalist Mohammed Wishah, who was killed in an attack west of Gaza City earlier this week.United Nations human rights chief Volker Turk condemned Israel's recent violence in the Gaza Strip, saying that 'the unrelenting pattern of killings' reflects Israel's 'sweeping impunity'.Meanwhile, in the occupied West Bank, Israeli settlers and forces stormed homes and villages throughout the morning, continuing an escalating campaign to expand their illegal settlements.
#israeli #gaza #people
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Politics Apr 11, 2026

Brazil and United States Launch DESARMA Programme to Intercept Arms and Drug Smuggling

Brazilian President Luiz Inácio Lula announced a new security pact with the United States, creating…
Brazilian President Luiz Inácio Lula da Silva used his Friday social‑media post to herald a new security partnership with the United States as a breakthrough in the fight against transnational crime.The agreement links the Brazilian Federal Revenue Service with U.S. Customs and Border Protection, establishing the DESARMA programme. Under DESARMA the two agencies will exchange real‑time data, apply rigorous cargo‑tracking protocols and launch joint operations to intercept illicit shipments of arms and narcotics.Finance Minister Dario Durigan called the collaboration an “important step in strengthening international cooperation”, noting that it will integrate intelligence and joint actions to curb the flow of weapons and drugs between the two nations.The pact is part of President Donald Trump’s broader “Shield of the Americas” initiative, which seeks to enlist right‑wing governments across the Western Hemisphere in a hard‑line campaign against criminal networks.Despite the cooperation, Lula’s administration has pushed back against Washington’s attempts to label Brazilian gangs such as the Primeiro Comando da Capital (PCC) and Comando Vermelho (CV) as foreign terrorist organisations. Lula and Foreign Minister Mauro Vieira have repeatedly asserted Brazil’s sovereignty and warned against external “tutelage”.In the last twelve months Brazil reported seizing 1,168 illegally imported weapons and parts, most of which originated from the U.S. state of Florida, underscoring the scale of the smuggling problem.A statement from the Revenue Service emphasized that the deal will ensure a “continuous flow of information from U.S. authorities to their Brazilian counterparts”, enhancing operational coordination.Relations remain strained: Vieira told U.S. Secretary of State Marco Rubio that Brazil opposes the terrorist‑label designation, while the Trump administration continues aggressive actions in the region, including lethal strikes on maritime vessels and a controversial raid in Venezuela.Looking ahead, Lula is expected to travel to Washington, D.C., later this year for talks with Trump, providing a diplomatic channel to manage both cooperation and disagreement.
#Brazil #United States #DESARMA
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World Economy Apr 11, 2026

Tories plan to reinstate two-child benefit cap to fund massive defence spending

The Conservative Party plans to reinstate the two-child benefit cap to fund a significant increase …
The Conservative Party has announced plans to reinstate the two-child benefit cap in order to fund a substantial increase in defence spending. According to Kemi Badenoch, the Tory leader, this move would support the largest peacetime programme of rearmament in the UK's history. The party aims to recruit 6,000 full-time soldiers and 14,000 reservists, marking the largest net increase in British troops since the Second World War.Badenoch criticised the current government's lack of readiness for war, citing recent global events. She emphasised the need for the UK to reassert itself as a global power and committed to increasing defence spending. The Tories claim they can raise £20bn towards this venture by reinstating the two-child benefit cap and reallocating funds earmarked for net zero projects.The announcement comes amid tensions with the US over the UK's involvement in the conflict with Iran. Badenoch expressed concern over Donald Trump's public criticism of UK Prime Minister Keir Starmer, highlighting the importance of maintaining western bonds in the face of global threats.The Labour government has pledged to spend 2.5% of GDP on defence by 2027, increasing to 3% in the next parliament. However, they are under pressure to publish a defence spending plan, with reports of tensions between the Ministry of Defence and the Treasury.
#defence #badenoch #our
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