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G7 Urges Action To Limit Middle East War’s Economic Impact

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Finance leaders from the Group of Seven stressed the urgent need to reduce the economic fallout of the ongoing Middle East conflict, warning that a prolonged war could weigh heavily on global growth. Meeting on the sidelines of the International Monetary Fund and World Bank Group spring gatherings in Washington, officials also reaffirmed the importance of working toward a lasting peace.

The conflict was one of the top issues discussed by finance ministers and central bank governors, alongside concerns about securing supply chains for critical minerals. The group highlighted that disruptions from geopolitical tensions could further strain global markets and economic stability if not addressed promptly.

In addition, G7 officials reiterated their commitment to supporting Ukraine amid ongoing Russian aggression. The discussions, led under France’s G7 presidency, underscored a broader effort to manage geopolitical risks while safeguarding the global economy from escalating shocks.

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ECB Signals Caution on April Rate Hike

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European Central Bank policymakers have downplayed the likelihood of an interest rate hike in April, emphasizing the need for more economic data before making any decision. European Central Bank officials noted that while inflation has risen above the 2% target due to higher energy costs, the timing of any policy move is less important than ensuring the decision is well-supported by evidence.

Key voices, including Philip Lane and Francois Villeroy de Galhau, stressed patience. Villeroy said that betting on an April hike would be premature, as policymakers still need clarity on how inflation is affecting underlying prices and economic demand. Markets have also scaled back expectations, now assigning only a small probability to an April move, though a rate increase is still widely anticipated by mid-year.

Other policymakers echoed similar caution, highlighting limited signs that energy-driven inflation is spreading across the broader economy. Officials such as Martins Kazaks indicated that even a small rate hike would mostly serve as a signal rather than a strong policy shift. Overall, the ECB appears inclined to wait for clearer signs of sustained inflation before taking action.

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Radev Leads Bulgaria Polls Amid Anti-Corruption Push

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Former Bulgarian president Rumen Radev is leading opinion polls ahead of the April 19 parliamentary election, campaigning on an anti-corruption platform and promising stability after years of political turmoil. Backed strongly by rural and older voters, Radev has positioned himself as a reformer determined to dismantle what he calls an entrenched oligarchic system.

The vote comes after repeated elections and fragile coalitions that failed to address graft and economic concerns. While Radev’s Progressive Bulgaria party holds a clear lead, it is unlikely to secure a majority, making coalition-building essential. Potential partners include pro-European groups, which could moderate his policies, especially on foreign relations.

Radev’s perceived pro-Russian stance has raised concerns within the European Union, particularly regarding Bulgaria’s position on Ukraine and broader EU alignment. Despite this, many voters prioritize domestic issues like corruption, economic inequality, and governance, viewing Radev as a chance for decisive leadership in a politically unstable landscape.

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Turkey Detains 162 Over Online Posts Praising Deadly School Shootings

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Turkish authorities have detained 162 people accused of posting or sharing online content that allegedly praised recent school shootings and undermined public order. Officials said the arrests were part of a wider crackdown on social media activity following two separate attacks this week that left multiple students and a teacher dead, and several others injured.

The first shooting occurred at a vocational high school in southeastern Turkey, where 16 people were injured before the attacker killed himself. A second, more deadly attack followed a day later at a secondary school in Kahramanmaras, killing at least nine people including students and a teacher. The teenage attacker was also killed, and officials said he had planned the assault in advance and referenced a known US mass killer in online material.

Hundreds of mourners gathered for funerals of the young victims as grief spread across the country, with officials confirming increased security measures and widespread restrictions on social media accounts. Justice authorities said dozens were also detained for allegedly spreading misinformation or encouraging further attacks online, while more than a thousand accounts faced restrictions.

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Italy Suspends Renewal of Defence Agreement with Israel Amid Rising Tensions

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Italy has decided not to renew its five-year defence cooperation agreement with Israel, Prime Minister Giorgia Meloni announced, citing the “current situation” without providing further details. Officials said the government is still assessing what the suspension will mean in practice for military and technical cooperation between the two countries.

The move comes as diplomatic relations between Rome and Tel Aviv have recently deteriorated. Italy summoned the Israeli ambassador after Israeli forces fired warning shots near an Italian UN peacekeeping convoy in Lebanon, while Israel later summoned Italy’s ambassador following critical remarks from Italy’s foreign minister about Israeli actions in Lebanon. Italy has also faced domestic pressure, with public protests calling for restrictions on military ties with Israel.

Italy is a significant but relatively small supplier of arms to Israel compared to the United States and Germany. The decision also comes amid broader political shifts in Europe, where several countries have reconsidered defence exports to Israel during the ongoing Gaza conflict, which has caused heavy casualties and intensified international criticism.

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Russia Warns Europe Over Drone Support to Ukraine

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Russia has warned that European efforts to expand drone production and supply to Ukraine risk deepening their involvement in the ongoing conflict. The Russian defence ministry said several EU nations are increasing support for Ukraine’s drone capabilities, a move Moscow views as a dangerous escalation in the war. It also released a list of facilities across Europe allegedly linked to drone manufacturing.

The list included sites in countries such as United Kingdom, Germany, Spain, Italy, Poland, and Israel, claiming they are involved in producing drones or components for Ukraine. Russian officials said European citizens should be aware of these locations, suggesting they could become part of the broader conflict environment.

Former Russian president Dmitry Medvedev intensified the warning, calling the published list potential military targets and hinting at possible future strikes. While such statements have been made before, they add to growing tensions as European countries continue to support Ukraine. The remarks highlight concerns that the war could expand beyond Ukraine if escalation continues.

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Europe Antisemitism Laws Spark Free Speech Row

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Lawmakers in France and Italy are moving forward with new laws to define and combat antisemitism, following a sharp rise in anti-Jewish incidents since 2023. The French proposal, set for parliamentary debate, seeks to penalize actions such as implicitly justifying terrorism or comparing Israel to Nazi Germany. Meanwhile, Italy is considering legislation that would formally adopt the International Holocaust Remembrance Alliance (IHRA) definition of antisemitism into law.

Supporters argue the measures are necessary to address evolving forms of antisemitism and protect Jewish communities amid growing hostility. In Italy, incidents have doubled since 2023, while France has also recorded historically high levels. Advocates say clearer legal definitions will help law enforcement tackle hate speech and discrimination more effectively in a tense global climate shaped by the Gaza conflict.

However, critics—including rights groups, academics, and some politicians—warn the laws could restrict free speech and silence legitimate criticism of Israel. They argue that equating criticism of Israeli policies with antisemitism risks conflating political expression with hate speech. The debate has intensified in France, where public opposition is growing, highlighting the challenge of balancing efforts to combat discrimination with the protection of freedom of expression.

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China, Spain Strengthen Ties Amid Global Uncertainty

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Pedro Sanchez and Xi Jinping met in Beijing to reinforce bilateral relations, emphasizing the need for stronger cooperation as the global order faces increasing instability. During the talks, Xi described the international system as “crumbling,” while Sanchez stressed that closer ties between Spain and China are essential to safeguard multilateralism.

Sanchez’s visit reflects a broader trend of Western leaders engaging with China despite ongoing geopolitical and trade tensions, particularly with the United States. Spain has positioned itself as a proponent of deeper economic collaboration with Beijing, advocating for China to play a more active role in global challenges such as climate change, security, and inequality.

During the visit, both sides agreed on measures to reduce Spain’s trade deficit and expand cooperation in agriculture, transport, and infrastructure. Sanchez also highlighted global conflicts, including situations in the Middle East and Ukraine, while reiterating Spain’s stance on upholding international law and diplomatic engagement.

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Former NATO Chief Issues Stark Warning Over UK Defense Gaps

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George Robertson, a former NATO Secretary General and veteran Labour figure, has issued a scathing rebuke of Prime Minister Keir Starmer, warning that Britain’s national security is “in peril.” In a high-profile lecture delivered in Salisbury, Robertson accused the current government of “corrosive complacency” and failing to back military rhetoric with necessary financial investment. Despite Starmer’s previous promises to increase defense spending to 3% of GDP, Robertson argued that the UK remains “under-prepared, under-insured, and under attack” amid rising global tensions.

The criticism specifically targeted the Treasury, with Robertson describing the influence of “non-military experts” on defense decisions as “vandalism.” He highlighted a perceived lack of urgency from Finance Minister Rachel Reeves, noting that defense was largely ignored in recent budget updates. Robertson, who co-authored a Strategic Defense Review for the government just two years ago, emphasized that lessons from the Ukraine conflict show a desperate need for modernization in drones and digital warfare—investments he claims are being sidelined by an “ever-expanding welfare budget.”

In response to the rare public fallout between the former chief and his own party, a government spokesperson insisted that a detailed 10-year investment plan is being finalized. Prime Minister Starmer has consistently blamed 14 years of Conservative rule for the military’s current state, pledging that the ongoing war in Iran and tensions in the Middle East will serve as a “turning point” for British resilience. However, Robertson’s intervention signals growing frustration among security experts that the government’s timeline is moving too slowly to meet the immediate threats facing the nation.

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Former Premier Egede Named Greenland’s New Foreign Minister

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Greenland’s Prime Minister Jens-Frederik Nielsen has appointed his predecessor, Mute B. Egede, as the nation’s new foreign minister. In addition to managing international relations, Egede will oversee the critical portfolios of mineral resources and business policies. The move comes at a high-stakes moment for the island as it navigates complex diplomatic waters and seeks to stabilize its executive leadership following the recent resignation of the previous foreign minister’s party from the coalition government.

Egede’s primary challenge will be steering relations with the United States amid renewed pressure from President Donald Trump, who has repeatedly expressed a desire for U.S. control over the island for security reasons. While this stance has caused friction with European NATO allies, Egede has historically maintained a firm position on Greenlandic sovereignty. During his tenure as prime minister, which ended in mid-2025, he consistently rejected any notion of the island being “for sale,” asserting that its people alone will determine their future.

Despite the geopolitical tensions, Greenland, Denmark, and the U.S. began high-level negotiations in Washington this past January to salvage their diplomatic partnership. Egede, who previously served as finance minister, takes over the negotiating table from Vivian Motzfeldt during a period of ongoing dialogue. The international community is closely watching these scheduled meetings to see if Egede can balance the island’s economic interests in mineral resources with the need to protect its autonomy against intensifying American interest.

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