India has asked the International Monetary Fund (IMF) to review loans disbursed to Pakistan amid escalating tensions between the two nuclear-armed rivals following a deadly attack in Indian-administered Kashmir that killed 26 men. India claims three attackers, including two Pakistani nationals, were involved, while Islamabad denies any role and calls for a neutral investigation. The IMF programme is critical to Pakistan's $350 billion economy, which has stabilised under the bailout that helped it avoid default. Advisor Khurram Schehzad says the programme is "well on track" and Pakistan had productive meetings with financial institutions in Washington.
https://www.brecorder.com/news/40360666/india-asks-imf-to-review-loans-to-pakistan-indian-government-source-saysIndia has fired back at Pakistan after a recent hotline conversation between the Directors General of Military Operations (DGMOs) failed to prevent ceasefire violations. The firing occurred in the Pargwal sector along the International Border in Jammu district, following India's suspension of the Indus Waters Treaty after a terror attack in Pahalgam on April 24. Pakistan had blocked its airspace for Indian airlines and closed the Wagah border crossing, while also suspending trade with India and warning that diverting water would be considered an "act of war". The ceasefire along the borders was reaffirmed in February 2021, but the current situation marks a significant departure from the relative calm maintained since then.
https://www.thehindu.com/news/national/pakistani-troops-violate-ceasefire-for-8th-night-residents-near-loc-begin-readying-bunkers/article69529381.eceThe EU's High Representative Kaja Kallas urged restraint from India and Pakistan to ease tensions, following a recent massacre in Pahalgam, a tourist destination in Indian-administered Kashmir, where Islamist militants killed 26 people on April 22. The region is a decades-old point of contention between the two countries, with both nations claiming sovereignty over the entire territory.
https://www.politico.eu/article/india-pakistan-pahalgam-kashmir-attack-tensions-eu-kaja-kallas/A group of activists on board the Conscience, a Freedom Flotilla Coalition ship, were attacked by drones in international waters off Malta while en route to Gaza, blaming Israel for the incident. The Maltese government responded to a distress call and offered support, dispatching a tugboat that helped extinguish a fire caused by the attack. All crew members are reported safe, but Israeli ambassadors have been accused of violating international law over the ongoing blockade and bombing of civilian vessels in international waters.
https://channelnewsasia.com/world/activists-say-drones-hit-aid-boat-heading-gaza-blame-israel-5105816The World Trade Organization's Abu Dhabi Ministerial Declaration emphasizes the UAE's commitment to advancing global trade and shaping international economic policy. The declaration was launched at an event attended by prominent figures, including Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Nickolay Mladenov, Director-General of AGDA. The UAE aims to achieve its economic ambitions through frictionless trade with leading markets, knowledge sharing, strategic foreign direct investment, and attracting global talent. The launch of the UAE Economic Diplomacy Report highlights the country's growing influence on the world stage and the benefits of cross-border cooperation.
https://www.gulftoday.ae/business/2025/05/02/agda-launches-uae-economic-diplomacy-report-2024-2025The US and Ukraine signed a minerals deal on April 30, recognizing significant financial and material support provided to Ukraine's defense since Russia's invasion. The agreement aims to secure long-term investment from the US amid efforts by President Trump's administration to reduce global security commitments. A bill with severe sanctions against Russia has been endorsed by 72 US senators, led by Senator Lindsey Graham, who claims he has enough support in the House to bring it to a vote. The proposed sanctions include a 500% tariff on imports from countries buying Russian oil, gas, petroleum products, or uranium.
https://www.rferl.org/a/ukraine-jets-trump-state-department-pentagon-training-equipment/33403301.htmlUkraine has renegotiated a minerals deal with the US, after President Donald Trump was removed from office following a clash with Ukrainian leader Volodymyr Zelenskyy. The new agreement is seen as a way for Ukraine to secure long-term support from the US, but its success depends on Trump's future involvement.
https://www.manilatimes.net/2025/05/03/opinion/columns/with-minerals-deal-ukraine-finds-way-to-secure-trump-support/2104757Apple reported first-quarter profit above expectations, but warned that US tariffs could disrupt its supply chain. CEO Tim Cook expects $900 million in costs due to US tariffs, which he believes will be a majority of iPhones sold in the US. Apple plans to shift production from China to India for some products, including iPads and Macs, while Vietnam will become the country of origin for most AirPods and watches sold in the US. The company's revenue was driven by iPhone sales, with $17 billion coming from the China market.
https://www.ndtv.com/world-news/apple-expects-900-million-tariff-hit-as-it-shifts-us-iphone-supply-to-india-8309049A fire was reported under control in Gaza by 0128 hrs, according to a Maltese statement. Activists on an aid boat sent out a distress signal, prompting another vessel from Cyprus to be dispatched. The activists were on a mission to challenge Israel's blockade of Gaza and deliver desperately needed aid. The Red Cross warned that the humanitarian response was on the verge of collapse due to two months of Israel blocking aid. Since the war broke out in October 2023, at least 2,326 people have been killed, with Hamas blaming Israel for its actions, describing them as a "blatant disregard for the will of humanity and justice".
https://www.victoriaadvocate.com/news/nation/activists-say-drones-hit-aid-boat-heading-for-gaza-blame-israel/article_e0e41c93-3bbe-5ad8-a79a-69acb0829de4.html