作者: admin

  • Fresh Russian barrage kills 14 in Ukraine

    Fresh Russian barrage kills 14 in Ukraine

    In a sharp escalation of hostilities following a widely violated 32-hour Orthodox Easter truce, overnight missile and drone barrages launched by Russia against multiple Ukrainian cities have killed at least 14 people — including a 12-year-old child — and left dozens more wounded, Ukrainian officials confirmed Thursday. Simultaneously, Ukrainian counter-strikes on Russian territory claimed the lives of two young children, according to Russian regional authorities, marking another bloody chapter in the four-year ongoing conflict.

    The deadliest of Thursday’s reported attacks hit the southern Ukrainian Black Sea port city of Odesa, where seven people lost their lives in the barrage, regional military administration head Sergiy Lysak announced via his Telegram channel. In Ukraine’s capital Kyiv, the strikes left four people dead, including the 12-year-old boy, and injured at least 45 more — a group that includes several frontline medical workers, Kyiv Mayor Vitali Klitschko shared in a public update.

    Images and damage assessments shared by Ukraine’s State Emergency Service paint a grim picture of the destruction across the capital: residential and commercial structures were set ablaze, vehicle parks were reduced to charred wrecks, building windows were shattered across multiple neighborhoods, and several prominent hotel buildings suffered significant external damage. In Kyiv’s Podilsky district, one attack leveled part of an 18-story residential apartment block after a drone struck the building directly; emergency responders managed to pull one surviving child from the rubble of the collapsed structure, Klitschko added.

    Further casualties were recorded in central Ukraine’s Dnipropetrovsk region, where three people were killed in the strikes, regional administration head Oleksandr Ganzha confirmed. A separate attack on Kharkiv, Ukraine’s largest northeastern city, left two elderly residents wounded, regional military administration head Oleg Synegubov said.

    The Russian strikes triggered a city-wide missile air raid alert across Kyiv, with capital military administration chief Tymur Tkachenko urging all residents to remain in secured shelter facilities until the threat was formally cleared.

    On the Russian side of the border, two children — ages 5 and 14 — were killed in what regional governor Veniamin Kondratyev described as a terrorist drone attack on residential buildings in Tuapse, located in southern Russia’s Krasnodar Krai region. Kondratyev shared the news of the children’s deaths via his own Telegram channel Thursday morning.

    The fresh wave of violence comes just days after the 32-hour unilateral Orthodox Easter truce, declared by Russia earlier in the week, ended amid mutual accusations of widespread violations from both Moscow and Kyiv. For months, Russia has launched near-daily drone and missile strikes across Ukrainian territory, while Ukrainian forces have regularly carried out retaliatory strikes on targets inside Russian borders, a tit-for-tat pattern that has continued to drive civilian casualties on both sides.

  • Threat of grounded planes nears as jet fuel supplies dwindle

    Threat of grounded planes nears as jet fuel supplies dwindle

    The global aviation industry is facing growing uncertainty over imminent flight disruptions, as a prolonged blockade of the Strait of Hormuz continues to erode jet fuel supplies across key markets in Asia and Europe. Since the closure of the critical chokepoint on February 28 following the start of US and Israeli airstrikes on Iran, nearly 20% of the world’s daily crude oil and liquefied natural gas shipments – the core input for jet fuel production – have been cut off from global markets, raising urgent alarms about looming shortages.

  • ‘Failure’: Pregnant prisoner denied medical termination

    ‘Failure’: Pregnant prisoner denied medical termination

    A systemic gap in gender-equitable healthcare for incarcerated women has been brought to public attention after a pregnant inmate at Adelaide Women’s Prison (AWP) in South Australia was denied a requested medical termination of pregnancy, due entirely to the facility’s lack of funding for 24-hour on-site medical care.

    The unnamed inmate filed a formal complaint with South Australia’s Ombudsman after prison staff rejected her request for a medication abortion once her pregnancy was confirmed. According to investigation findings, the denial stemmed from AWP’s inability to cover the cost of overnight nurse monitoring required for the procedure, a service the facility does not currently receive funding to provide.

    After a full review, Ombudsman Emily Strickland upheld the inmate’s complaint, labeling the refusal of care a clear failure to uphold fundamental human rights. “Access to safe termination of pregnancy is a universally recognised human right,” Strickland stated in her final report. She went on to outline multiple accessible alternatives that prison and health administrators never presented to the inmate, including transferring her to the nearby Yatala Labour Prison – a male facility that operates with full 24-hour medical monitoring capacity – arranging admission to a public hospital, or offering the procedure with clear informed consent that overnight monitoring would not be available on-site.

    Strickland’s investigation concluded that the failure to explore these existing options and allow the inmate to make an informed decision about her own body constituted an administrative error. The report also highlighted the broader structural inequality at the heart of the incident: women incarcerated at AWP face inherent disadvantage when it comes to care for gender-specific, sensitive health needs, because the facility lacks basic overnight medical services that are available at the state’s male prison.

    Following the release of the Ombudsman’s findings, Paul Furst, prison health executive for Central Adelaide Local Health Network, issued a formal apology to the wronged inmate. Furst acknowledged to the Australian Broadcasting Corporation that medical terminations in correctional facilities often require overnight nurse monitoring that is not consistently available at AWP, and confirmed that the health network would implement a new formal policy to explicitly protect and support women’s reproductive choice around termination options.

    South Australia’s Health Minister Blair Boyer also weighed in on the case, describing the original denial of care as “not acceptable.” As of this report, no further details have been released about the current status of the inmate’s pregnancy, though surgical abortion services remain accessible to incarcerated people across the state’s correctional system.

  • Ukraine’s army evolves under fire, with new units challenging Soviet legacy

    Ukraine’s army evolves under fire, with new units challenging Soviet legacy

    In the chaotic opening weeks of Russia’s full-scale invasion of Ukraine in 2022, a Ukrainian agricultural tycoon gathered 30 volunteers to form a small self-defense unit. He had no guarantee he would survive to see the group’s future, let alone watch it grow into one of Ukraine’s most capable and innovative fighting forces. Today, that small contingent has expanded into the 40,000-strong Khartiia Corps, a core component of Ukraine’s official defense structure that is leading a quiet revolution in the country’s military, breaking from decades of rigid Soviet-era doctrine.

    Vsevolod Kozhemyako, founder of the unit and now a senior adviser to the corps’ commander, framed the group’s mission around a core truth for Ukraine: the nation’s ultimate security guarantee lies in building a modern, effective army of its own. “Ukraine needs to have an effective modern army. And this is our number one guarantee of the country’s security,” Kozhemyako said. “We have kids, we have grandkids, and we will stay on this territory. The future of this country depends on us.”

    Khartiia’s rapid rise comes as Ukraine navigates stalled peace talks, shifting global attention away from the conflict to other global hotspots, and a decades-long struggle to shed Soviet military traditions that have plagued its forces for years. After the collapse of the Soviet Union, Ukraine inherited a massive military arsenal and force structure, but decades of underinvestment, corruption, and unaddressed institutional weakness were laid bare in 2014, when Russia annexed Crimea and launched its full-scale invasion of the Donbas. That shock sparked the first wave of volunteer mobilization and long-delayed military reforms, changes that helped Ukraine fend off Russia’s 2022 full-scale invasion. But as the war dragged into its third year, old flaws reemerged: rigid top-down command, crippling bureaucracy, and a culture that punishes bad news rather than encouraging honest problem-solving, all with tangible costs on the front line.

    From its founding, Kozhemyako said Khartiia was built to reject that outdated model. As a service member who had fought since 2014, he knew first-hand the shortcomings of Ukraine’s post-Soviet force structure, and many of his earliest volunteers were veterans who refused to serve in traditional army units, but were eager to defend their country. Many of those early recruits came from civilian business backgrounds, bringing with them a mindset focused on initiative, adaptability, and results rather than rigid formalities.

    The corps built its doctrine from the ground up, adapting U.S. Army planning frameworks to Ukraine’s battlefield realities. It integrated Western protocols including Troop Leading Procedures (TLP) and After Action Reviews (AAR), refining the systems through in-house expertise rather than forcing rigid adherence to external models. TLP empowers lower-level units to plan operations far faster than traditional top-down structures, a critical advantage for seizing fleeting tactical opportunities on dynamic front lines. AAR requires troops to systematically debrief every mission, identifying what went wrong, why, and how to improve — a practice the corps has applied with particular rigor to its rapidly evolving drone and robotics program.

    Khartiia’s pioneering work with battlefield technology has even drawn international attention from U.S. military leaders. In an article published in Military Review, the U.S. Army’s official professional journal, Major General Curtis Taylor highlighted Khartiia’s December 2024 drone assault on Russian positions near Kharkiv as a milestone: the first fully robotic offensive against enemy positions in modern warfare. For the U.S. Army, Taylor argued, the operation is a critical wake-up call to rethink how traditional armored formations must adapt to survive on future battlefields.

    Today, robotics and autonomous systems are a routine part of Khartiia’s daily operations, used for everything from front-line supply deliveries to casualty evacuation. One 23-year-old platoon commander, who transferred to the corps from a traditional army unit and spoke on condition of anonymity per Ukrainian military rules, said he was immediately struck by how little emphasis the unit placed on unnecessary rigid formalities that had defined his previous posting — from strict, combat-irrelevant dress codes to repetitive administrative busywork.

    “People understand why we are here, and they don’t overload us with unnecessary tasks,” he said, noting he had just patrolled his position in a pair of soft blue house slippers. He also pointed to a starkly different command culture: unlike traditional units, where a rigid hierarchy and fear of punishment discouraged honest communication between junior troops and senior officers, Khartiia’s structure is built on mutual trust.

    “When officers look at you from above, like in rear units, they become almost like enemies to you,” he said. “In Khartiia, relationships are different. When you go on a mission, you trust the people giving you orders.”

    That cultural and doctrinal shift has delivered tangible battlefield results. In December 2025, Khartiia led a major counteroffensive in the Kupiansk direction, liberating multiple villages north of the city and pushing Russian forces back to the Oskil River. The Washington-based Institute for the Study of War noted that seizing control of Kupiansk had been a top Russian priority since mid-2025, and after months of sustained assaults, Russian forces had failed to secure any significant gains in the sector. The think tank assessed that the operation proved Ukraine’s military remains fully capable of pulling off successful counterattacks and securing tactically important gains, particularly when Russian forces are overstretched across multiple front sectors. Like military forces on both sides of the conflict, Khartiia does not disclose public casualty figures, and has not suffered any major operational setbacks to date.

    Beyond its battlefield successes, Khartiia has also revolutionized how Ukrainian military units handle recruitment, outreach, and internal management. Operating largely on independent recruitment and private fundraising, the corps built a professional human resources system and a strong public brand, leveraging YouTube and social media, partnering with public figures, and simplifying online donations to expand its support base. A senior Ukrainian Ground Forces officer noted that the Third Army Corps and Khartiia were the first Ukrainian units to build distinct public brands, a model that other formations are now actively studying as the entire army faces ongoing pressure to recruit new troops.

    “The approaches that work in the commercial sphere translate perfectly here — only you are competing not for profit, but for people, equipment and attention of the volunteers,” the officer said.

    Inside one of Khartiia’s underground frontline command posts near Kharkiv, the unit’s philosophy is on full display: large screens stacked wall-to-wall display real-time reconnaissance footage from the front, overseen by a former bodybuilding coach who rose through the ranks from ordinary soldier to senior commander, dressed in a Khartiia hoodie with an energy drink at his keyboard. The command post feels more like a high-tech gaming facility than a traditional military headquarters, a reflection of the corps’ informal, results-first culture.

    “One of our secrets is that we don’t spare people during training — we train them constantly,” the commander said. “But during combat, it’s the opposite. People come first. We don’t save drones or equipment at the expense of our people.”

    Khartiia is now working to spread its model across Ukraine’s military, forging formal partnerships with other reform-minded formations. Most recently, Khartiia and the Third Army Corps, another leading new-wave formation, launched a joint training initiative to share resources, tactics, and expertise to standardize their modern fighting approach across units. For the two corps’ commanders, who are adjacent on the front line, the initiative grew from a shared practical observation: the biggest gap across Ukraine’s wider military is the urgent need to overhaul outdated basic combat training for troops, non-commissioned officers, and junior commanders.

    Khartiia commander Ihor Obolienskyi estimates that roughly 300,000 Ukrainian troops are deployed along the entire front line, with Khartiia and the Third Army Corps accounting for around 80,000 of that total — a large enough force to drive meaningful institutional change, even within a military system that remains inherently resistant to rapid overhaul. Commanders from other traditional army units have already reached out to study Khartiia’s model, a sign of growing demand for reform across the force. Still, it remains unclear whether Ukraine’s senior military command will be willing to fully abandon the Soviet legacy that has shaped the force for decades.

    Andrii Biletskyi, commander of the Third Army Corps, said during a joint briefing with Khartiia that the goal of the initiative is simple: to deliver a proven, tested reform tool to Ukraine’s General Staff. “Whether they accept it or not — that is their decision,” Biletskyi said.

  • A dispatch from inside the Vatican bubble during a remarkable exchange between pope and president

    A dispatch from inside the Vatican bubble during a remarkable exchange between pope and president

    Traveling with the Vatican press pool while covering Pope Leo XIV comes with a unique, almost secluded experience. Chaperoned between stops by police motorcades that cut through even the gridlock of the busiest urban centers, this exclusive press access offers no shortage of perks for working journalists. But during Leo XIV’s landmark four-nation tour of Africa, life inside the carefully managed Vatican “bubble” has taken on a surreal edge, as an unprecedented public exchange of words plays out across continents between the first American pope in history and U.S. President Donald Trump.

    Every morning of this tour, the roughly 70 accredited reporters traveling with the papal delegation wake to new overnight developments out of Washington, and one set of questions hangs over the entire press corps: Will Pope Leo engage directly with the latest attacks? How, if at all, will he address Trump’s criticism while staying focused on the pre-planned pastoral and diplomatic agenda he set for his African trip?

    That dynamic was on full display Wednesday, when the pontiff, his Vatican entourage and the traveling press pool boarded an ITA Airways charter for the second leg of Leo’s 11-day journey: a flight from Algiers, Algeria bound for Yaounde, Cameroon.

    Early in the trip, the pope had already delighted reporters by confronting Trump head-on. Shortly after departing Rome for Algiers on April 13, Leo stopped to answer press questions about a Truth Social post Trump had published the day prior, in which the U.S. president accused the pontiff of being soft on crime, aligned with progressive U.S. political factions, and even claimed Leo owed his election as pope to his own administration’s influence.

    Trump’s original criticism came in response to comments Leo made regarding the ongoing conflict between the U.S. and Iran, where the pope had called for urgent peace and labeled Trump’s threat to annihilate Iranian civilization “truly unacceptable.” Aboard that first flight, the pope told reporters his calls for peace and rejection of war were nothing more than a straightforward articulation of Gospel values, and that he held no fear of the Trump administration.

    On Wednesday, however, Leo chose not to take new questions from reporters, and directed his brief on-plane remarks to his just-concluded visit to Algeria — the first papal visit to the North African nation in history — where he honored the legacy of St. Augustine of Hippo, his own reported spiritual inspiration. While he made no explicit mention of the Iran conflict or Trump’s latest attacks, his choice to deliver the entire address in English, a break from his usual multilingual remarks on the trip, left little doubt that the overnight broadsides from Washington had not gone unheard. In the hours leading up to the flight, Trump had renewed his criticism on Truth Social, while U.S. Vice President JD Vance — a convert to Catholicism — publicly warned the pope to “be careful” when discussing theological matters.

    In his remarks, Leo highlighted the “goodness,” “generosity,” and “respect” extended by the Algerian government during his visit, noting the honor of a full military aerial escort that accompanied the papal plane through Algerian airspace. He also reflected on his historic stop at Algiers’ Great Mosque, framing the visit as a powerful demonstration that even with differing religious beliefs, worship practices and ways of life, diverse communities can coexist peacefully. He added that St. Augustine’s core message — of seeking God and truth, building cross-community bridges, and working toward unity — is a lesson the modern world desperately needs to hear, and one the apostolic trip would continue to lift up through his papal witness.

    Beyond the high-profile transatlantic tension, the papal traveling press pool operates by its own set of rules. Like other heads of state, the pope travels internationally with both an in-house Vatican media team and a cohort of reporters from external global news organizations, which pay substantial fees to secure a spot on the papal plane and gain exclusive access to the pontiff’s events.

    Life inside the Vatican bubble carries clear journalistic tradeoffs. On one hand, reporters get unrivaled access to the pope and his delegation, travel under the protection of the Vatican’s robust security apparatus, and face none of the logistical hurdles that come with independent international reporting: the Vatican handles advance visa processing, secures local SIM cards, arranges accommodation and ground transportation, freeing journalists to focus on reporting rather than planning. Reporters also receive advance copies of the pope’s speeches, occasional off-the-record access to senior Vatican officials, and real-time updates from the Vatican spokesman.

    For most news organizations, however, the primary draw of investing thousands of dollars per reporter for a single papal trip is the chance to be present for impromptu on-board press briefings, the only setting where popes regularly take unscripted questions from reporters while cruising at 35,000 feet. One of the most iconic papal quotes of modern history came from exactly this setting: Pope Francis’ famous “Who am I to judge” remark, made during his 2013 maiden papal trip to Rio de Janeiro when asked about a reportedly gay priest.

    The downside of the bubble, however, stems from the same perks that make it appealing: it deliberately separates reporters from the on-the-ground reality of the countries the pope visits, whether that’s Algeria or any other nation, leaving little time for the independent grassroots reporting that creates balanced, nuanced news coverage. Large news organizations with sufficient resources often offset this gap by deploying separate reporting teams on the ground to produce local context, or allow bubble-based reporters to break away for independent trips, resulting in a mix of official Vatican access and on-the-ground insight.

    But when the biggest breaking news involving the pope is unfolding thousands of miles away, across multiple time zones, life inside the bubble becomes a distinctly jarring experience. The story every news outlet is chasing is not always the formal pastoral agenda the pope has laid out for the trip. Even so, for a historic trip that marks the first visit by an American pope to Africa, the bubble has offered unrivaled front-row access to a moment that will shape both Vatican-U.S. relations and the pope’s global legacy.

    This reporting on religion from the Associated Press is supported through a collaboration with The Conversation US, with funding provided by Lilly Endowment Inc. The AP retains full editorial responsibility for all content.

  • ‘I understand it’: Controversial disrupter rule receives rare support from NRL star

    ‘I understand it’: Controversial disrupter rule receives rare support from NRL star

    The National Rugby League’s polarizing disrupter rule has sparked weeks of fierce backlash after a string of widely criticized officiating calls — but one of the code’s most respected star players has broken with popular opinion to offer rare public support for the controversial regulation.

    Sydney Roosters skipper James Tedesco has stepped forward to defend the rule, just days after the NRL publicly admitted officials misapplied it during a high-stakes weekend clash between his side and the Cronulla Sharks, a mistake that cost the Roosters a guaranteed try. The incorrect call came when match officials ruled Roosters forward Robert Toia had illegally disrupted Sharks winger Sam Stonestreet as Stonestreet attempted to catch a high kick, adjudging Toia’s contact enough to invalidate what would have been a Roosters try. Post-match review confirmed the contact was minimal and the ruling wrong, yet the NRL has confirmed it has no plans to scrap the rule despite growing outcry from fans, coaches and players.

    Luckily for the Roosters, the officiating error did not shift the final result: the Sharks scored a try of their own just a minute after the disallowed Roosters four-pointer, but Trent Robinson’s side held on to secure the win. Speaking at a promotional event for Greyhound National Adoption Day on Thursday, Tedesco said he believed the core purpose of the rule — which is designed to protect players jumping to catch high kicks — is sound, and that most confusion stems from inconsistent application rather than a flaw in the rule itself.

    “I think I understand it,” Tedesco said alongside Parramatta Eels star Mitch Moses at the launch event. “I thought there was nothing wrong with that challenge on the weekend but they thought it was, and now they’ve said they got it wrong. So as long as it’s clear going forward and consistent with the calls, then I’ll be happy.”

    Tedesco went on to break down his reading of the rule, explaining that it properly targets dangerous, unawares contact rather than fair contests between two players both focused on the ball. “The main thing it brought in was to protect the catcher. If there’s contact before the ball is coming down and (the offender) weren’t looking at the ball, then that’s a penalty, that’s a disrupter. Whereas two guys looking at the ball competing for the ball is always going to be contact.”

    The Roosters fullback added that the rule does not change his own approach to aerial contests, noting that he keeps his eyes on the ball on both attack and defense, a habit that aligns with the rule’s core intent. “Let’s hope there’s consistency going forward and it’s all cleared up, because you don’t want them coming out after the game saying that was wrong and it costs us a try,” he said.

    Off the field, Tedesco also shared his thoughts on this weekend’s upcoming clash, where the third-placed Roosters will host the resurgent Newcastle Knights at Allianz Stadium on Sunday. The Knights have been one of the NRL’s biggest surprise packages in the 2026 season, transforming from having the league’s worst attack in 2025 to a top-performing offensive unit under new head coach Justin Holbrook — a man who served as an assistant coach at the Roosters over the past two years before taking the Knights top job.

    Holbrook’s return to a head coaching role comes three years after he was sacked by the Gold Coast Titans in 2023, and Tedesco said he is thrilled to see his former mentor finding success in his new role. “We’ve had chats over the years, obviously it was pretty difficult for him going in there (to the Titans) and the sort of situation he was in. So I definitely felt bad for him in that way,” Tedesco said. “I was very happy for him that he landed with us (as an assistant). He’s a very high energy guy, very positive, and definitely brought out some of my best attacking footy as well. So I’m very happy for him to get another chance up there and to see them doing really well even with injuries to key players.”

    Despite his personal respect for Holbrook, Tedesco made clear that any goodwill will be put aside when the two sides run out on Sunday. “But there’ll be no feelings from playing on the weekend, we really want to go after a win and if that’s going to affect Justo, then that’s just how it is.”

  • Iran participating in World Cup, FIFA president confirms

    Iran participating in World Cup, FIFA president confirms

    FIFA President Gianni Infantino has issued a definitive confirmation that Iran will compete in the upcoming 2026 FIFA World Cup, pushing back against growing speculation that the nation’s participation would be derailed by ongoing armed conflict in the Middle East. Speaking Wednesday at an economic conference hosted by business broadcaster CNBC in Washington D.C., Infantino left no room for ambiguity about Iran’s spot in the global tournament. “Iran is coming for sure. We hope that by then the situation will be a peaceful situation, that would definitely help,” Infantino told attendees.

    In justifying the governing body’s position, Infantino emphasized that national teams represent their civilian populations rather than political leadership, noting that the Iranian squad earned their qualification through standard tournament pathways and that the players themselves have expressed overwhelming desire to compete. This stance marks a repetition of commitments Infantino made back in March, when he appeared in person at an Iran-Costa Rica friendly match held in Antalya, Turkey. That appearance came even after former U.S. President Donald Trump publicly questioned whether Iranian athletes would be able to compete safely on U.S. soil during the tournament.

    The 2026 World Cup, a historic edition as the first to expand to 48 participating teams, is co-hosted by three North American nations: the United States, Canada, and Mexico. Iran was drawn into Group G, with all three of its scheduled group-stage matches set to take place across U.S. venues — two contests in Los Angeles, one in Seattle — with the team planning to base its training camp in Tucson, Arizona. Iran’s participation has faced uncertainty since large-scale conflict broke out across the Middle East involving the U.S., Israel and Iran in late February.

    Initially, Iranian officials raised the possibility of a full boycott of the tournament, before formally requesting FIFA relocate its U.S.-hosted matches to Mexico, a petition that global soccer’s governing body rejected outright. After weeks of cross-border air strikes and Iranian retaliatory attacks targeting Israel and regional partners, a fragile ceasefire took effect on April 8. Tensions remain high, however: Tehran has restricted access to the strategically vital Strait of Hormuz, and since Monday the U.S. has enforced a full naval blockade on all vessels traveling to or from Iranian ports.

    Sticking to FIFA’s long-standing position that sport should remain separate from political tensions, Infantino reaffirmed the organization’s commitment to using soccer as a unifying force. “If there’s nobody else that believes in building bridges and keeping them intact and together, we are doing the job,” he said. The 2026 World Cup is scheduled to kick off on June 11, bringing 48 teams together across 16 host cities in the three co-host nations.

  • Asian stocks mostly higher after Wall Street hits record and oil steadies

    Asian stocks mostly higher after Wall Street hits record and oil steadies

    Global financial markets kicked off Thursday with broad gains across most Asian equity benchmarks and stable oil prices, driven growing investor optimism that a temporary ceasefire between the U.S. and Iran will be extended and new diplomatic negotiations will move forward. The conflict, which began in late February, has roiled energy markets and raised widespread concerns over global supply chains, making any signs of de-escalation a major catalyst for risk assets.

    In Tokyo, the Nikkei 225 surged 2.4% to close at 59,549.59, while South Korea’s Kospi climbed 2% to 6,215.38. Hong Kong’s Hang Seng index recorded a 1.2% uptick to 26,269.99, and mainland China’s Shanghai Composite edged 0.6% higher to 4,050.42. China’s latest quarterly economic data released Thursday showed 5% year-over-year growth for the first three months of the year, an acceleration from the final quarter of 2023. While most economists note that China’s economy has so far absorbed the initial spillover effects of the Iran conflict relatively well, some caution that the country’s large export-driven manufacturing sector could face more substantial headwinds in coming months as broader global economic growth slows. Elsewhere in the region, Taiwan’s Taiex gained 0.9% in midday trading, while Australia’s S&P/ASX 200 bucked the upward trend to edge 0.1% lower.

    The optimism around diplomacy stems from anonymous regional officials who told the Associated Press on Wednesday that Washington and Tehran have reached an “in principle” agreement to extend their existing two-week ceasefire, which is set to expire next week. The two sides are also reportedly making progress toward organizing a second round of formal negotiations. Additional diplomatic efforts are underway, with Pakistani army chief currently visiting Tehran to help broker further talks between the two parties.

    Even as hopes for peace grow, the U.S. is moving ahead with plans to increase economic pressure on Iran. U.S. Treasury Secretary Scott Bessent issued a warning this week that Washington is preparing to implement new secondary sanctions targeting any entities that continue business with Iran, including potentially Chinese companies that purchase Iranian crude oil.

    Global oil markets held steady on Thursday after months of extreme volatility tied to the conflict. Brent crude, the global benchmark for oil prices, ticked up less than 0.1% to settle at $94.94 per barrel, while U.S. benchmark West Texas Intermediate crude rose 0.4% to $91.66 per barrel. Oil prices spiked sharply immediately after the war began in late February, after the Strait of Hormuz — a critical global shipping chokepoint through which roughly 20% of the world’s daily oil supply passes — was effectively closed to commercial traffic. The U.S. implemented a new naval blockade of Iranian ports this week, aiming to force Tehran to reopen the strait as part of any negotiated ceasefire deal.

    Strategists at ING Bank warned in a client note Thursday that significant uncertainty remains for energy markets. “The key upside risk for the market is that peace talks between the US and Iran break down,” wrote analysts Warren Patterson and Ewa Manthey. “This isn’t an unrealistic scenario, given that US and Iranian demands remain fairly wide apart.”

    The positive momentum for risk assets already spilled over to U.S. markets on Wednesday, with Wall Street hitting new record highs on the ceasefire optimism. The benchmark S&P 500 climbed 0.8% to close at 7,022.95, surpassing its previous all-time high set back in January. The tech-heavy Nasdaq composite jumped 1.6% to 24,016.02, though the Dow Jones Industrial Average bucked the trend to dip 0.2% to 48,463.72.

    Several major U.S. banks outperformed the broader market after releasing stronger-than-expected first quarter earnings results. Bank of America shares rose 1.8%, with CEO Brian Moynihan noting ongoing signs of a resilient U.S. economy, including steady consumer spending. Morgan Stanley followed a similar trajectory, with shares gaining 4.5% after its own positive earnings report. In one of the most notable individual stock moves of the day, San Francisco-based footwear brand Allbirds saw its share price skyrocket 582% to nearly $17 per share after the company announced it would pivot its core business focus to artificial intelligence and rebrand as NewBird AI.

    In other commodity trading, safe-haven assets gold and silver both posted gains on Thursday. Gold climbed 0.5% to $4,846.40 per ounce, while silver rose 1.3% to $80.62 per ounce. In currency markets, the U.S. dollar weakened slightly against the Japanese yen, falling to 158.58 yen from 159 yen in the prior session. The euro also ticked higher, trading at $1.1814 up from $1.1799 on Wednesday.

  • Japan pledges $10bn to help Asian countries deal with oil crisis

    Japan pledges $10bn to help Asian countries deal with oil crisis

    Against a backdrop of sweeping energy market chaos sparked by the ongoing Iran war, Japan has launched a landmark $10 billion (£7.4 billion) cooperation initiative to support neighboring Asian economies, particularly those in Southeast Asia, in stabilizing critical energy supplies including crude oil. The new framework was formally announced Wednesday by Japanese Prime Minister Sanae Takaichi, following a virtual summit that brought together leaders from across the region.

    In a post-meeting press briefing, Takaichi emphasized the deep, interconnected economic ties that bind Japan to the broader Asian region, noting that Japan itself relies on Southeast Asian supplies of petroleum-derived products, most crucially for the manufacturing of essential medical equipment. “Japan is closely interconnected with each Asian country through supply chains and mutually dependent with them,” she stated.

    The core goals of the cooperation framework are threefold: to help regional states secure steady access to crude oil and refined petroleum products, to preserve the integrity of cross-border supply chains, and to expand strategic energy stockpiling capacity across the region. Geographically, Asia faces uniquely high risk from energy disruptions tied to tensions around the Strait of Hormuz: nearly 90 percent of all oil and gas moving through the critical global chokepoint is destined for Asian markets, leaving the region disproportionately exposed to blockades or shipping interruptions.

    According to Japan’s Ministry of Foreign Affairs, the $10 billion pledged is roughly equal to the total annual value of crude oil imports by all member states of the Association of Southeast Asian Nations (ASEAN). The initiative received broad backing from participating leaders, including representatives from the Philippines, Malaysia, Singapore, Thailand, Vietnam, Bangladesh and South Korea. Funding for the plan will be pooled from multiple sources, including Japan’s state-backed financial institutions such as the Japan Bank for International Cooperation, Nippon Export and Investment Insurance, and the Japan International Cooperation Agency, alongside contributions from the Asian Development Bank.

    Takaichi moved to reassure the Japanese public, confirming that the new initiative would not compromise domestic energy security in Japan. As of the end of 2025, Japan holds strategic crude oil reserves sufficient to cover 254 days of domestic consumption, though the ongoing global energy crisis has already prompted Japanese authorities to draw down these stockpiles. Last month, Japan released a historic volume of reserves equal to 50 days of domestic use, with a further release equivalent to 20 days of consumption scheduled for early May.

    Domestically, Japan continues to grapple with growing anxiety over potential shortages of naphtha, a crude-derived petrochemical that serves as a foundational raw material for plastic manufacturing. These concerns are most acute in the country’s healthcare sector, where critical supplies ranging from syringes and disposable gloves to dialysis equipment depend on naphtha inputs. Japan’s healthcare system is already operating under significant strain from an aging population, and shortages of the material could exacerbate existing pressures. While Takaichi has called for calm, affirming that no immediate supply disruptions are expected, market jitters and public worry persist.

    Energy insecurity has already spread across Southeast Asia, where skyrocketing oil prices have hit household budgets and government budgets hard. Many regional governments have rolled out public energy conservation campaigns, urging citizens to carpool and reduce air conditioning use to cut demand. The Philippines has already gone a step further, declaring a national energy emergency. Speaking at Wednesday’s Japan-hosted summit, Philippine President Ferdinand Marcos Jr. called on ASEAN to activate its longstanding regional fuel-sharing pact to mitigate the crisis. “No single country in Asia can insulate itself from supply chain shocks of this scale by acting alone,” he told attendees.

  • Trump budget director defends 43% military spending boost

    Trump budget director defends 43% military spending boost

    On Wednesday, during testimony before the House Budget Committee, White House Office of Management and Budget Director Russ Vought stood firm in defending the Trump administration’s controversial new fiscal year budget request, which calls for a 43 percent jump in defense spending paired with a 10 percent reduction across non-military domestic programs. Vought framed the imbalanced proposal as the most viable path forward for U.S. national security and fiscal priorities, but the plan drew fierce pushback from committee Democrats, and bipartisan skepticism over defense spending accountability leaves its full passage highly unlikely as lawmakers begin months of debate.

    Top Democratic committee leaders slammed the proposal’s skewed priorities, arguing it abandons core domestic needs that matter most to American households. Ranking member Rep. Brendan Boyle of Pennsylvania pointed out that the dramatic defense expansion comes with no corresponding boost to critical public health programs including Medicare and Medicaid, and no new relief for families struggling with soaring child care costs. “This is a reflection of priorities that are out of whack” with what Americans actually need, Boyle stated.

    In response to criticism, Vought characterized the large defense investment as a paradigm-shifting overhaul of the U.S. military industrial base, designed to break longstanding bureaucratic backlogs that have slowed production of critical military assets. “For instance, the president and his Department of Defense are exhibiting tremendous leadership to build ships, planes, drones, munitions and satellites faster without the backlog of status quo,” he explained during the three-hour hearing. To expand the nation’s defense production capacity enough to double or triple output through new facility construction, rather than just adding shifts to existing sites, Vought noted that multi-year forward purchasing agreements are required, and those upfront costs must be accounted for in the first year of the budget.

    To advance the proposal, Vought outlined a two-track budget strategy for congressional Republicans: the plan would allocate roughly $1.15 trillion for defense in the regular annual appropriations bill, which needs bipartisan support to advance through the evenly divided Senate, and slot an additional $350 billion into a budget reconciliation package that Republicans can pass without Democratic votes. This structure, Vought argued, would avoid the longstanding rule that has seen Democrats demand every one-dollar increase in defense spending be matched by a one-dollar increase in domestic spending. “This Congress has changed the way we can spend money through the reconciliation process to avoid the pitfalls that really caused two decades of not being able to accomplish anything,” he said, noting the procedural change deserves credit. Republicans already leveraged reconciliation to pass major domestic legislation last year, and are currently preparing another reconciliation bill to expand funding for immigration enforcement in the coming months.

    One key gap in the administration’s current request drew repeated questions from committee members: Vought confirmed that the White House cannot yet share even a rough estimate of additional defense funding that will be requested to support ongoing military operations related to the Iran war. “We’re not ready to come to you with a request. We’re still working on it,” Vought testified. “We’re working through to figure out what’s needed in this fiscal year versus next fiscal year.” The current 2025 fiscal year is set to end on September 30, ahead of the new fiscal year beginning October 1.

    The proposed 43 percent defense increase also faced bipartisan pushback over longstanding issues with Pentagon financial accountability. Lawmakers from both parties noted that the Defense Department has consistently failed to complete full, clean audits of its sprawling spending portfolio, and questioned the wisdom of approving a massive funding hike before fixing transparency and fraud issues.

    Washington Democratic Rep. Pramila Jayapal challenged whether the administration was genuinely committed to rooting out waste and fraud across all federal agencies, given its push to add more than half a trillion dollars to Defense Department funding. Vought countered that the department is continuing to make progress toward completing a full, comprehensive audit. Wisconsin Republican Rep. Glenn Grothman echoed that frustration, lambasting what he called pervasive arrogance within Defense Department leadership. “I keep holding my nose because defense is the most important thing. And they just say, ‘We don’t have to do an audit. We’re so damn important. We don’t care what Congress thinks,’” Grothman said, demanding that the full audit be completed by July 31, before lawmakers must advance final spending legislation. Vought sought to reassure skeptical lawmakers, stressing that the administration is committed to rooting out inefficiencies at the Pentagon, with any savings redirected to procurement and military research.

    The House Budget Committee does not have the authority to draft the 12 annual government spending bills. That responsibility falls to the House Appropriations Committee, which will hold hearings with cabinet secretaries and agency leadership in the coming weeks to review the full presidential budget request for the 2026 fiscal year. Appropriations subcommittees will then draft and debate individual spending bills that make up the discretionary portion of the roughly $7 trillion total U.S. federal budget. The vast majority of annual federal spending — around $4.2 trillion — is allocated to mandatory entitlement programs including Social Security, Medicare and Medicaid, while another $970 billion goes to interest payments on the national debt.

    According to nonpartisan Congressional Budget Office data, total defense spending for the 2025 fiscal year, which ended in September 2025, reached $893 billion, while non-defense domestic programs received a combined $980 billion. Under the administration’s proposal, defense spending would surpass domestic discretionary spending for the coming fiscal year, while 10 percent cuts would be spread across dozens of domestic agencies including Agriculture, Education, Health and Human Services, Homeland Security, Housing and Urban Development, Labor, Transportation, State, and Veterans Affairs, among smaller agencies.