Category: International

  • JUST IN: Bank of England MPC holds interest rate at 3.75% amid inflation concerns

    JUST IN: Bank of England MPC holds interest rate at 3.75% amid inflation concerns

    LONDON, United Kingdom (NPA) — The Bank of England has maintained its benchmark interest rate at 3.75 per cent, citing continued uncertainty over global energy prices, inflationary pressures and the broader economic outlook.

    The decision was announced on Thursday following a meeting of the Monetary Policy Committee (MPC) that ended on June 17.

    According to the bank, seven members of the committee voted to keep the Bank Rate unchanged at 3.75 per cent, while two members favoured a 0.25 percentage-point increase to 4.0 per cent.

    In its June 2026 Monetary Policy Summary, the MPC said global energy prices had declined since its previous meeting following developments in the Middle East, but remained above pre-conflict levels and continued to exhibit significant volatility.

    The committee noted that the full impact of the energy shock on the UK economy remains uncertain.

    “Monetary policy cannot influence energy prices but is being set to ensure that the economic adjustment to them occurs in a way that achieves the 2 per cent inflation target sustainably,” the MPC said.

    The committee stated that the appropriate policy response would depend on the scale and duration of the energy shock and how its effects spread through the wider economy.

    Official data showed that Consumer Price Index (CPI) inflation had eased to 2.8 per cent since the previous MPC meeting.

    However, the bank warned that inflation is expected to rise later in the year as the impact of higher energy costs continues to feed through to households and businesses.

    The MPC said the risk of sustained inflationary pressures through higher prices and wage demands would increase if elevated energy prices persist for an extended period.

    At the same time, it noted that the labour market continues to soften, while signs of weakening economic activity could help moderate inflationary pressures.

    The committee added that borrowing costs for households and businesses remain significantly higher than they were before the recent energy shock, a factor expected to contribute to lower inflation over time.

    “Taking all the risks to the economic outlook into account, the Committee judges that it is appropriate to maintain Bank Rate at this meeting,” the statement said.

    The MPC reiterated its commitment to achieving the bank’s medium-term inflation target of 2 per cent and said it would continue to monitor developments in the Middle East and their impact on the UK economy.

    The committee also signalled its readiness to adjust monetary policy if necessary to ensure inflation remains on track to meet the target sustainably.

    The next Bank of England interest rate decision is scheduled for July 30, 2026.

  • G7 leaders’ communiqué charts new path for global development finance at Évian summit

    G7 leaders’ communiqué charts new path for global development finance at Évian summit

    ÉVIAN, France (NPA) — The leaders of the Group of Seven (G7) nations in their Évian summit have produced one of the most ambitious communiqués in recent memory, setting out a vision for a reformed global development finance system.

    The declaration is sweeping in scope, promising to tackle debt vulnerabilities, mobilise private capital, and empower partner countries to achieve sovereignty and resilience

    At the heart of the communiqué is a recognition that traditional development policies have failed to break cycles of dependency. For decades, concessional aid and official lending have supported vulnerable nations, but too often without fostering genuine ownership or pro‑growth incentives. The Évian declaration acknowledges this shortcoming and pledges reforms to rationalise the development architecture, making it more efficient and impactful.

    Debt vulnerabilities are a central concern. The G7 leaders highlight the growing burden on middle‑income countries excluded from the G20’s Common Framework, and they call for accelerated implementation of the IMF‑World Bank 3‑Pillar Approach. Transparency in debt data and lending practices is emphasised, alongside the launch of a Borrowers’ Platform to give debtor nations a stronger voice. These measures, if implemented, could reshape the balance of power in global finance, but they will require creditor nations to act in good faith — a challenge given competing strategic interests.

    The communiqué also underscores the need to mobilise private capital, recognising that public resources alone cannot meet global development needs. Development Finance Institutions and Multilateral Development Banks are tasked with expanding risk‑sharing instruments, guarantees, and blended finance. Initiatives such as the African Trade and Investment Development Insurance (ATIDI) and the G20 Compact with Africa are highlighted as vehicles to attract investment. This focus on derisking and regulatory reform is pragmatic, but success will depend on whether private investors see genuine opportunities rather than political risk.

    Supply chain resilience is another pillar of the declaration. The G7 pledges to strengthen transportation, energy, and digital infrastructure, while ensuring reliable critical minerals value chains.

    Fertiliser shortages and food security are also addressed, reflecting lessons from recent global disruptions. These commitments are timely, but they require coordination across multiple stakeholders, from governments to private companies, and the political will to prioritise long‑term resilience over short‑term gains.

    Human development remains a priority, with concessional resources directed to least developed countries facing external shocks or conflicts. Investments in health, education, and nutrition are emphasised, alongside support for National Health Compacts. The declaration also reaffirms that empowering women and girls is central to economic growth. These commitments are laudable, but they echo promises made at countless summits before. The challenge lies in ensuring that resources reach communities rather than being lost to inefficiency or corruption.

    Institutional reform is another ambitious goal. The G7 calls for greater efficiency in the global development system, pledging to reduce fragmentation and strengthen coordination among Multilateral Development Banks, public development banks, and vertical funds. Support for UN reforms under the UN80 agenda is also noted. These reforms could streamline global development efforts, but they will require entrenched institutions to embrace change — a notoriously difficult task.

    The Évian communiqué situates itself within a broader ecosystem of initiatives, including the Africa Forward Summit, the Mattei Plan for Africa, TICAD, and the EU’s Global Gateway. By aligning with these platforms, the G7 aims to mobilise a multi‑actor coalition involving emerging donors, the private sector, and civil society. This inclusive approach is promising, but coordination across such diverse actors is complex and often fraught with competing agendas.

    Ultimately, the Évian declaration is a bold vision for mutually beneficial international partnerships. It seeks to move beyond aid dependency toward sustainable, sovereign development, tackling debt, mobilising capital, and prioritising human development. But the success of this agenda will depend on sustained commitment, political will, and the ability to translate lofty rhetoric into tangible outcomes.

    The G7 has set the stage for transformative change. Whether it delivers will be the true test of its credibility.

  • Zelenskyy hails EU accession talks, urges more pressure on Russia

    Zelenskyy hails EU accession talks, urges more pressure on Russia

    CHIȘINĂU, Moldova — Ukrainian President Volodymyr Zelenskyy has welcomed the opening of the first cluster in accession negotiations for Ukraine and Moldova to join the European Union, describing it as “a clear message that Europe’s progress cannot be stopped.”

    Addressing the EU Intergovernmental Conference via videoconferencing, Zelenskyy said Ukraine and Moldova have taken important steps together and emphasized the symbolism of addressing Europe from Chișinău en route to the G7 Summit in France. “Our neighborhood with Moldova is strong. We support each other, and we are moving toward the EU together – and we will get there together,” he declared.

    Zelenskyy urged Europe to accelerate the accession process as a strong response to Russia’s aggression. “Ukraine has earned the right to move faster. We are ready for the opening of all clusters. Everyone in Europe knows this. Let us move forward without delay,” he said.

    Turning to the war, Zelenskyy revealed that Ukraine had offered Russian President Vladimir Putin opportunities to meet “anywhere real decisions to end the war could be made,” but said Putin refused.

    He noted discussions with the U.S. and France about a possible meeting around the G7, and even with President Trump about hosting talks in the U.S., but stressed that Russia’s rejection would require “additional pressure from the international community.”

    Zelenskyy concluded by calling Europe’s progress and Ukraine’s EU path a powerful answer to Russia’s aggression, insisting that Ukraine is prepared for the next stages of accession.

  • UN REPORT: Nearly 50,000 killed in conflicts in 2024 as global displacement reaches 123 million

    UN REPORT: Nearly 50,000 killed in conflicts in 2024 as global displacement reaches 123 million

    NEW YORK, United States (NPA) — The United Nations Department of Economic and Social Affairs (UN DESA) has raised concerns over the growing human cost of conflict, revealing that nearly 50,000 people were killed in violent conflicts around the world in 2024.

    The findings were contained in the latest Sustainable Development Goals (SDG) report titled “Peace, Justice and Strong Institutions,” which assesses global progress under Goal 16 of the UN’s 2030 Agenda.

    According to the report, the death toll translates to approximately one person killed every 12 minutes, with women and children among the most affected victims of armed conflicts and violence.

    The report also highlighted the worsening global displacement crisis, noting that by the end of 2024, an estimated 123.2 million people had been forcibly displaced from their homes due to conflict, persecution, and insecurity.

    Despite some progress in reducing violent crime, the UN said global efforts remain far from achieving established targets.

    While homicide rates declined by 12 per cent between 2015 and 2023, the reduction remains significantly below the global target of cutting such deaths by 50 per cent.

    The report further identified persistent challenges in access to justice, revealing that approximately one in every three prisoners worldwide remains in detention without a proper sentence.

    UN DESA also expressed concern over threats facing journalists and human rights defenders, warning that civic space continues to shrink in many parts of the world.

    According to the report, the number of journalists killed globally increased by 11 per cent in 2024, with conflict zones remaining among the most dangerous environments for media practitioners.

    Despite the challenges, the report pointed to several areas of progress.

    These include improvements in budget reliability and public financial management, the expansion of access-to-information laws, and an increase in the number of countries operating national human rights institutions that comply with international standards.

    However, the UN cautioned that substantial gaps remain in efforts to build effective, accountable, and inclusive institutions capable of delivering justice, protecting rights, and sustaining peace.

    The organisation stressed that stronger institutions, improved governance, and greater respect for human rights remain critical to achieving the Sustainable Development Goals by 2030.

    The report serves as a reminder that while progress has been recorded in some areas, significant work remains to address conflict, displacement, injustice, and threats to fundamental freedoms across the world.

  • EU imposes new sanctions on Russia targeting energy, military, and human rights violations

    EU imposes new sanctions on Russia targeting energy, military, and human rights violations

    BRUSSELS, Belgium (NPA) — The European Union has unveiled a fresh round of sanctions against Russia, intensifying pressure on Moscow over its ongoing war of aggression against Ukraine and its continued violations of international law.

    The new package released on Monday targets 34 individuals and 47 entities, focusing on Russia’s military-industrial complex, energy revenues, propaganda networks, and human rights abuses. The measures are designed to curb Russia’s ability to finance its war, disrupt its shadow oil fleet, and expose systemic repression within the country.

    EU High Representative for Foreign Affairs Kaja Kallas said the sanctions “strike at the heart of Russia’s military-industrial complex, its shadow fleet, and the networks that fuel Moscow’s hybrid attacks against Europe,” adding that Western sanctions have already cost Russia an estimated €1–1.3 trillion.

    The listings include manufacturers and suppliers of drones and military equipment such as JSC Lavochkin Research and Production Association, LLC Rustakt, and Chinese firms Shenzhen Minghuaxin and Xinxiang Richful Lubricant Additive Company.

    The EU also sanctioned entities linked to Russia’s shadow fleet, including companies in Russia, Türkiye, the UAE, Azerbaijan, Liberia, and Hong Kong, accused of helping Moscow evade oil export restrictions.

    In addition, the EU targeted Russian propagandists and institutions spreading disinformation, including Anatoly Kuzichev, Maria Volkonskaya, and the Presidential Foundation for Cultural Initiatives, as well as individuals implicated in the poisoning of opposition leader Alexei Navalny.

    The Council also renewed sanctions related to Russia’s illegal annexation of Crimea and Sevastopol, extending them until June 23, 2027.

    “These measures shrink Russia’s room for manoeuvre,” Kallas said. “Brick by brick, we are collapsing the foundations of Russia’s war economy.”

  • Trump secures peace deal with Iran as fuel prices poised to return to pre-war levels

    Trump secures peace deal with Iran as fuel prices poised to return to pre-war levels

    GENEVA, Switzerland (NPA) — United States President Donald Trump has announced a landmark agreement with Iran aimed at ending decades of hostility between the two countries and easing tensions across the Middle East.

    In a statement posted on Truth Social, Trump declared that negotiations with the Islamic Republic had culminated in a comprehensive deal that would reopen critical global energy routes and pave the way for broader diplomatic engagement.

    “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorise the toll-free opening of the Strait of Hormuz and authorise the immediate removal of the United States naval blockade. Ships of the world, start your engines. Let the oil flow!” Trump said.

    The agreement, expected to be formally signed in Switzerland later this week, is being described as one of the most significant diplomatic breakthroughs in recent Middle East history.

    Under the framework, both countries have agreed to an immediate ceasefire, while Iran is set to reopen the Strait of Hormuz, one of the world’s most strategic maritime corridors through which a significant portion of global oil supplies passes.

    The United States, in turn, will begin lifting its naval blockade on Iranian ports, with full implementation expected within 30 days.

    Marine traffic through the Strait will reportedly be coordinated by Iran and Oman to ensure the safe movement of international vessels.

    As part of the agreement, Iran has pledged not to pursue nuclear weapons and will freeze uranium enrichment activities pending the conclusion of a broader nuclear accord. The United States will permit the supervised dilution of Iran’s enriched uranium stockpiles, although negotiations on inspection mechanisms and compliance procedures are ongoing.

    The framework also includes major economic concessions. Washington is expected to grant temporary waivers on oil-related sanctions, allowing Iran to resume petroleum exports, while approximately $25 billion in frozen Iranian assets will be released through a combination of direct transfers and credit facilities.

    A wider economic reconstruction and cooperation package is expected to be negotiated within the next 60 days.

    Trump hailed the agreement as a historic achievement, arguing that previous administrations had failed to secure lasting peace with Tehran.

    “This Great Deal will bring peace and security to the whole region. Many presidents have tried to make peace with Iran, and all have failed before me,” he said.

    The President added that the agreement would restore stability to global energy markets and strengthen regional security.

    Analysts say the accord could mark the most consequential diplomatic breakthrough between Washington and Tehran since the 2015 Iran nuclear agreement. However, significant challenges remain, including the finalisation of nuclear verification arrangements and the response of regional stakeholders who may view the deal with caution.

    Newpost Africa reports that the agreement is also expected to have far-reaching implications for global oil markets, international trade routes, and geopolitical stability in the Gulf region.

    Nigerians are anticipating a reduction in the pump price of petroleum to its pre-war level of N800 per litre. Similar adjustments are expected across other African economies, where sudden price disruptions have strained households and eroded company incomes, driving up the cost of goods and services in the wake of the war.

    If successfully implemented, the deal could signal the beginning of a new chapter in relations between the United States and Iran, ending years of confrontation and opening the door to broader economic and diplomatic cooperation.

  • UN Secretary-General appoints Nigerian diplomat Ahunna Eziakonwa as Special Adviser on Africa

    UN Secretary-General appoints Nigerian diplomat Ahunna Eziakonwa as Special Adviser on Africa

    NEW YORK, United States (NPA) — United Nations Secretary-General António Guterres has appointed Nigerian diplomat and development expert Ahunna Eziakonwa as his Special Adviser on Africa.

    Eziakonwa succeeds Cristina Duarte of Cabo Verde, whom the Secretary-General commended for her dedicated service and commitment to the United Nations.

    The appointment places the Nigerian development specialist at the forefront of the UN’s engagement with African governments, regional institutions, and development partners on issues relating to peace, governance, economic transformation, and sustainable development.

    Eziakonwa brings nearly three decades of leadership experience within the United Nations system to the position.

    She currently serves as United Nations Assistant Secretary-General, Assistant Administrator, and Director of the Regional Bureau for Africa at the United Nations Development Programme (UNDP), where she oversees development programmes across 46 African countries.

    In that capacity, she has been responsible for coordinating UNDP’s support for implementing the United Nations Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063 development framework.

    Since assuming the role in 2018, she has played a key role in shaping UNDP’s strategic response to political, economic, and social development challenges across the African continent.

    Her extensive career within the UN spans humanitarian affairs, development coordination, peacebuilding, and political engagement.

    Eziakonwa previously served as United Nations Resident Coordinator, Humanitarian Coordinator, and UNDP Resident Representative in Ethiopia, Uganda, and Lesotho, where she led efforts in humanitarian response, development planning, and stakeholder engagement.

    She also served as Chief of the Africa Section at the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) in New York, overseeing humanitarian operations across 15 African countries.

    Her professional experience further includes senior assignments in Liberia and Sierra Leone during critical periods in the two West African nations.

    At UN Headquarters, she contributed to peacekeeping operations, political affairs, strategic communications, and policy development relating to the organisation’s activities across Africa.

    Before joining the United Nations, Eziakonwa worked with several African civil society organisations focused on development and social transformation.

    She holds a Master’s degree in International Affairs, with a focus on African economic and political development, from Columbia University in New York, and a Bachelor of Arts degree in Pedagogy, English, and Literary Studies from the University of Benin.

    Beyond her native Igbo and English languages, Eziakonwa is fluent in Yoruba and possesses a working knowledge of French.

    Her appointment is being viewed as another significant milestone for Nigeria’s representation in international diplomacy and global development leadership.

  • JUST IN: US intel chief reveals evidence on American-funded biolabs in 30+ countries with dangerous pathogens

    JUST IN: US intel chief reveals evidence on American-funded biolabs in 30+ countries with dangerous pathogens

    WASHINGTON, D.C. (NPA) — United States Director of National Intelligence (DNI) Tulsi Gabbard has disclosed newly declassified evidence indicating that the U.S. government has funded more than 120 biological laboratories across over 30 countries.

    According to Gabbard, the disclosure follows months of reviews of Intelligence Community records and holdings. The laboratories reportedly include facilities in Ukraine, some of which were considered vulnerable to compromise due to the ongoing Russia-Ukraine conflict.

    She said previous intelligence assessments had warned that at least one U.S.-funded laboratory in Ukraine likely housed dangerous pathogens and faced risks of attack, seizure, or damage amid the war.

    The newly declassified documents, which have been made public, provide details on the existence, locations, history, and funding of the laboratories.

    Gabbard alleged that information regarding the full scope of the programme had been withheld from the American public for years, claiming that concerns raised about the facilities were often dismissed and those making such claims were accused of spreading foreign propaganda.

    According to the DNI, many of the laboratories either currently engage or have previously engaged in research involving hazardous and highly contagious pathogens. She further claimed that some facilities conducted gain-of-function research with limited public visibility and oversight.

    The disclosure comes more than a year after U.S. President Donald Trump signed Executive Order 14292 on May 25, 2025, aimed at ending federal funding for gain-of-function research globally.

    Speaking on the issue, Gabbard criticised what she described as efforts by some politicians, health officials and members of the previous administration to downplay or deny the existence of U.S.-funded biolaboratories abroad.

    “Despite the obvious potential for catastrophic global impact research on dangerous pathogens in biolabs can have, politicians, so-called health professionals like Dr Fauci, and entities within the Biden administration’s national security team lied to the American people about the existence of U.S.-funded and supported biolabs, and threatened those who attempted to expose the truth,” Gabbard said.

    She added that the Office of the Director of National Intelligence (ODNI) would continue working with relevant government agencies to identify the locations of the laboratories, determine the pathogens they contain, and support efforts to end what she described as dangerous gain-of-function research.

    Gabbard also announced new guidance directing the Intelligence Community to intensify information gathering on overseas biological laboratories and related facilities.

    According to her, the directive has already yielded additional information on clinical trials reportedly being conducted at some of the facilities, raising what she described as significant ethical, financial and national security concerns.

  • JUST IN: Netanyahu welcomes Trump’s Iran negotiation push as US suspends planned strikes

    JUST IN: Netanyahu welcomes Trump’s Iran negotiation push as US suspends planned strikes

    JERUSALEM, Israel (NPA) — Israeli Prime Minister Benjamin Netanyahu has expressed support for ongoing diplomatic efforts between the United States and Iran after U.S. President Donald Trump announced the suspension of planned military strikes and revealed progress toward a memorandum of understanding with Tehran.

    According to a statement issued by the Israeli Prime Minister’s Office, Trump spoke with Netanyahu on Thursday regarding the emerging framework for negotiations with Iran.

    Although Israel is not a direct party to the proposed memorandum of understanding, Netanyahu reportedly welcomed Trump’s assurances that any final agreement would address Israel’s core security concerns.

    The Prime Minister’s Office said Netanyahu expressed appreciation for Trump’s commitment that a final deal would include the removal of Iran’s enriched nuclear material, the dismantling of enrichment infrastructure, restrictions on missile production, and an end to Tehran’s support for armed proxy groups across the Middle East.

    The development followed Trump’s surprise announcement that he had cancelled military strikes previously scheduled against Iran after what he described as progress in high-level negotiations involving multiple regional and international stakeholders.

    “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening,” Trump wrote on his Truth Social platform.

    The U.S. President claimed that key elements of a prospective agreement had been approved by parties involved in the negotiations, including the United States, Israel, Saudi Arabia, the United Arab Emirates, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. He added that a naval blockade would remain in force until the arrangement is formally concluded.

    The latest diplomatic development comes after several days of escalating tensions between the United States, Iran, and Israel, during which Trump had threatened large-scale military action against Iran and even suggested that the United States could eventually take control of Iran’s strategic Kharg Island and other major oil infrastructure facilities.

  • BREAKING: Trump says US will take control of Iran’s Kharg Island, oil and gas markets

    BREAKING: Trump says US will take control of Iran’s Kharg Island, oil and gas markets

    WASHINGTON, D.C. (NPA) — United States President Donald Trump has declared that the United States will take control of Iran’s strategic Kharg Island and other key oil infrastructure facilities, marking a dramatic escalation in the ongoing conflict involving Washington, Tehran, and Israel.

    Trump made the announcement in a post on his Truth Social platform on Thursday, where he also vowed that the United States would launch fresh military strikes against Iran.

    Kharg Island is regarded as the backbone of Iran’s oil export industry, handling a significant portion of the country’s crude oil exports and serving as one of the most critical energy hubs in the Persian Gulf.

    In the statement, Trump claimed that Iran’s military capabilities had been largely neutralised and announced plans for the United States to assume control of the country’s oil and gas sector.

    “The United States will be hitting Iran (whose Navy, Air Force, Radar, Anti-Aircraft, and all other forms of Defense, together with most of its offensive capability, are gone) very hard tonight,” Trump wrote.

    “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela,” he added.

    The latest remarks represent one of the strongest statements yet from the U.S. President since hostilities between the United States and Iran intensified.

    Trump’s comments came a day after he announced fresh military action against targets inside Iran, as the conflict continues to expand across the region.

    The prospect of the United States taking control of Iranian oil infrastructure has heightened concerns about further instability in the Middle East and potential disruptions to global energy supplies. Financial markets reacted to the development, with oil prices rising amid fears of a prolonged conflict involving one of the world’s major oil-producing nations.

    As of the time of filing this report, Iranian authorities had not officially responded to Trump’s latest declaration.

    The latest development adds a new dimension to the escalating confrontation involving Iran, the United States, and Israel, raising concerns among world leaders about the risk of a broader regional conflict with far-reaching geopolitical and economic consequences.