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Bulgaria Heads for Snap Election After Parties Reject Government Mandate

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Bulgaria is heading for another snap election after the country’s main political parties refused to form a government, President Rumen Radev said on Friday. His announcement follows the rejection of a final mandate by the Alliance for Rights and Freedoms, clearing the way for the eighth election in just four years.

None of the parties in Bulgaria’s fragmented parliament hold enough seats to secure a stable majority. Earlier this week, both the GERB-SDS bloc and the reformist PP-DB alliance turned down Radev’s request to try to form a governing coalition after the previous administration resigned.

Former Prime Minister Rosen Zhelyazkov’s coalition stepped down last month amid sustained street protests over corruption and proposed tax increases. With all mandates now declined, Radev is expected to appoint a caretaker government and call early elections, as Bulgaria seeks political stability to unlock EU funds, boost investment, and tackle long-standing corruption.

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Louvre Reopens After Strike Delay, Some Sections Remain Closed

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Paris’ Louvre Museum reopened on Monday after a three-hour delay, though several sections remained closed as staff partially resumed a strike over pay and working conditions, according to Reuters. Employees had held a meeting earlier in the day to decide whether to continue rolling industrial action, which began last month and was paused during the Christmas period.

The labour dispute has added to the challenges facing the world’s most visited museum, which is still reeling from a major jewel heist in October. In that incident, four burglars stole jewels worth about $102 million in broad daylight, and the stolen items have yet to be recovered.

The Louvre has also been grappling with infrastructure issues, including a recent water leak that damaged ancient books and raised concerns about the deteriorating condition of the historic building. Together, the strike, security lapse, and maintenance problems have put renewed pressure on museum management and French authorities.

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Europe’s Factories Sink Deeper into Contraction as Asia Ends 2025 on Stronger Note

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Manufacturing activity in the euro zone weakened further in December, ending 2025 in deeper contraction as demand faltered and new orders declined, private surveys showed. The HCOB Eurozone Manufacturing PMI fell to 48.8 from 49.6 in November, its lowest level in nine months and below the 50 mark separating growth from contraction for a second consecutive month. Germany recorded the weakest performance among major economies, while Italy and Spain also slipped back into contraction, highlighting broad-based weakness across the region.

France offered a rare bright spot, with its manufacturing PMI rising to a 42-month high, while Britain saw factory activity expand at its fastest pace in 15 months, supported by a recovery in demand. Economists warned, however, that euro zone manufacturers remain cautious heading into 2026, as slowing demand and subdued confidence continue to weigh on output and investment.

In contrast, Asia’s factory powerhouses closed the year on a stronger footing, supported by a rebound in exports and rising demand for artificial intelligence-related products. Manufacturing activity in Taiwan and South Korea returned to expansion territory in December after months of decline, driven by a surge in new orders. Most Southeast Asian economies maintained solid growth, while China also showed signs of an unexpected turnaround, reinforcing optimism that Asia’s export-driven manufacturing sector may start the new year with renewed momentum.

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German Prosecutors to Close Usmanov Probe After €10 Million Settlement

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German prosecutors have agreed to end investigations into billionaire Alisher Usmanov over alleged foreign trade law violations after he consented to pay €10 million, according to statements from prosecutors and his legal team on Tuesday. Usmanov, a Russian-Uzbek businessman and founder of USM Holdings, has instructed that the full amount be paid, clearing the way for the case to be closed once the payment is received.

The probe focused on suspected payments of €1.5 million for security services at two properties in the Bavarian lakeside town of Rottach-Egern between April and September 2022, as well as allegations that Usmanov failed to declare luxury items such as jewellery, artwork and wine under EU sanctions regulations. Usmanov has denied any wrongdoing, with his lawyers stating that he neither owned nor controlled the properties involved and had no connection to the companies linked to the payments.

Munich prosecutors said that after payment, the case cannot be reopened based on the same allegations, with €8.5 million going to Bavaria’s treasury and €1.5 million allocated to prisoner welfare. Usmanov, who is subject to EU and U.S. sanctions following Russia’s invasion of Ukraine, agreed to the settlement to save time and resources, his lawyers said, stressing that the payment does not constitute a fine or admission of guilt.

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Inquiry Reveals Louvre Heist Succeeded Due to 30-Second Security Lapse

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A French culture ministry inquiry has found that the burglars who stole France’s crown jewels from the Louvre in October gained a crucial 30-second advantage due to security lapses at the museum. The four thieves, who escaped with jewels worth $102 million, exploited delays in surveillance footage and weaknesses in the museum’s infrastructure, including a fragile window in the Apollo gallery. The heist has raised questions about how such vulnerabilities existed at the world’s most visited museum.

Investigators concluded that delayed access to live camera feeds and limited monitoring capabilities slowed both museum security and police response. According to Noel Corbin, chief of general inspection of cultural affairs, even a slightly faster alert or a more resistant window could have prevented the burglars’ escape. The report highlighted that security staff were unable to view certain camera images in real time due to insufficient screens and a lack of exterior surveillance coverage.

The Louvre, employing about 2,200 staff and hosting nearly 9 million visitors annually, operates with the complexity of a small city, making rapid coordination essential. The inquiry underscores the need for upgraded systems and improved communication channels within the museum’s sprawling security network. The stolen crown jewels remain missing, and the incident has renewed urgency around reinforcing protection for France’s cultural treasures.

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Wingtech Invites Nexperia Custodians for Talks Amid Ongoing Governance Dispute

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Wingtech Technology, the Chinese parent company of Dutch chipmaker Nexperia, has invited the court-appointed custodians of Nexperia to discuss control of the company—seen as a potential first step toward easing months of internal tensions. The rift between Nexperia’s European management and its Chinese parent deepened after the Dutch government intervened in September, leading to a court ruling that removed Wingtech founder Zhang Xuezheng as CEO over concerns he intended to shift production to China.

Although both sides have signaled interest in dialogue, they disagree on the agenda. Nexperia says it wants talks focused on restoring normal supply chain operations, which have been hit by wafer shipment stoppages, unpaid invoices and growing chip shortages that have affected global automakers. Wingtech, however, insists discussions must first address the restoration of its ownership rights and lawful control over the company.

Court-appointed custodian Arnold Croiset van Uchelen confirmed receiving Wingtech’s invitation but declined to share details of any upcoming meeting. Meanwhile, Nexperia’s Chinese packaging arm has declared itself independent and is seeking Chinese-made wafers, while the European unit has halted shipments to China. With dwindling chip inventories, the auto industry fears fresh shortages may emerge as early as January.

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French PM Urges Lawmakers to End Budget Standoff and Pass 2026 Bill

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French Prime Minister Sebastien Lecornu has pressed lawmakers to pass the 2026 national budget before the end of the year, following the lower house’s rejection of key tax provisions. The bill now moves to the Senate, where a review will begin immediately, amid rising political tensions within France’s fragmented parliament.

Lecornu said there is still time to reach consensus and called on opposition groups to avoid blocking the legislative process. With President Emmanuel Macron’s minority government facing intense pressure from both the far right and far left, any setback could trigger a no-confidence vote that may topple the prime minister. He said he would meet party leaders in the coming days to negotiate a compromise.

Once the Senate debates the proposal, a joint committee will attempt to reconcile differences between the two chambers before a final vote in the lower house. Lecornu stressed that the government is determined to keep next year’s deficit below 5% of GDP, despite major revisions expected to the initial plan, which includes over €30 billion in deficit reduction primarily through spending cuts and selective tax increases.

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Vilnius Airport Briefly Shut After Smugglers’ Balloons Trigger Airspace Alert

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Lithuania’s Vilnius Airport was forced to halt operations for over an hour on Thursday evening after balloons used by smugglers once again appeared on radar systems, triggering an airspace safety alert. The National Crisis Management Centre confirmed that flights resumed shortly after the objects cleared the area. This comes just hours after Lithuania reopened its border crossings with Belarus, which were earlier shut due to repeated airspace disruptions.

The Lithuanian government has accused smugglers of flying balloons from Belarus carrying contraband cigarettes, describing the activity as a form of “hybrid attack” orchestrated by the regime of Belarusian President Alexander Lukashenko. Prime Minister Inga Ruginiene’s office warned that if such incursions continue, Lithuania may be forced to close all border checkpoints again as a security measure.

Belarus has dismissed the allegations, with Lukashenko calling Lithuania’s response a “crazy scam” and accusing Western nations of waging hybrid warfare against Belarus and Russia. Authorities in Vilnius noted that air traffic disturbance reports had declined in recent weeks, but Thursday’s balloon-triggered closure marked a renewed incident amid ongoing regional tensions.

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Louvre Shuts Campana Gallery After Structural Weaknesses Discovered

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France’s Louvre Museum has closed its Campana Gallery after a structural assessment revealed severe weaknesses in beams supporting the Sully wing. The gallery, which showcases Greek vases and includes office spaces, dates back to the 1930s and was shut less than a month after a high-profile daylight heist exposed security vulnerabilities at the world-famous museum.

According to the Louvre, the technical report made it necessary to immediately close the first-floor gallery and relocate 65 staff members working above it. Union representatives said employees had long raised concerns over the ageing building, but were surprised by the extent of deterioration now confirmed.

The closure comes as the museum faces scrutiny over its management practices. A recent auditor’s report criticised the prioritisation of art acquisitions and post-pandemic projects over infrastructure and security upgrades. The investigation into last month’s $102 million jewel theft—carried out using a lift, broken windows, and motorbike escape—remains ongoing. The Louvre, originally a royal palace built in the 12th century, continues to grapple with balancing heritage preservation and modern safety demands.

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Abramovich Calls Jersey Investigation “Baseless and Unlawful”

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Russian billionaire Roman Abramovich has said that the ongoing criminal investigation launched by Jersey authorities in 2022 is “baseless and unlawful”, according to a statement from his spokesperson. Jersey had frozen $7 billion in assets linked to Abramovich as part of the probe, but his team now says no charges have been brought in more than three years, nor has any substantial progress been made in the case.

Abramovich’s spokesperson added that he has been permitted to file “claims of conspiracy” against the Jersey government. These claims allegedly stem from the government admitting to deleting data related to the investigation and failing to provide full disclosure regarding records connected to Abramovich. Jersey officials have not yet commented on these allegations.

A powerful figure who rose to wealth after the Soviet Union’s collapse and also holds Israeli citizenship, Abramovich remains a central figure in global financial circles. With Forbes estimating his net worth at $9.2 billion, the dispute with Jersey adds yet another layer to the legal and political scrutiny he has faced in recent years.

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