Global Economy At Fragile Turning Point Amid Trade Tensions, UN Warns
The global economy is at a fragile turning point due to rising trade tensions and growing policy uncertainties, according to a report released on Thursday by the United Nations Department of Economic and Social Affairs (UN DESA). The report highlights that tariff-driven price pressures are contributing to inflation risks, leaving trade-dependent economies particularly vulnerable. UN DESA warns that “higher tariffs and...
Tinubu To Attend Pope Leo XIV’s Inauguration
On Saturday, President Bola Ahmed Tinubu will leave Abuja for Rome, Italy, to witness Pope Leo XIV's inauguration as the new leader of the Roman Catholic Church. The visit was confirmed in a statement released on X (formerly Twitter) by Bayo Onanuga, Special Adviser to the President on Information and Strategy. According to the statement, Tinubu is travelling at the invitation...
”World Economy At A Fragile Point” – UN Warns
In light of rising trade tensions and expanding policy uncertainties, the UN Department of Economic and Social Affairs has stated that the world economy is at a precarious turning point. UN DESA, in a report published on Thursday, stated that tariff-driven price pressures were adding to inflation risks, leaving trade-dependent economies particularly vulnerable. It stated that higher tariffs and shifting trade...
South Korea Resumes Tariff Talks With US
South Korea will resume tariff talks with Washington on the sidelines of a key APEC meeting Friday, as ministers jostle to meet US Trade Representative Jamieson Greer. Trade ministers from the top economies that make up APEC are meeting on South Korea’s Jeju Island amid concerns over the global trading system after US President Donald Trump unveiled bombshell levies on...
Russia Labels Zelensky A ‘Clown’, ‘Loser’ Ahead Of Diplomatic Talks In Turkey
Tensions flared on Thursday as Russia and Ukraine exchanged insults ahead of the first direct peace talks between the two nations in more than three years, set to take place in Turkey. Ukrainian President Volodymyr Zelensky, upon arriving in Ankara for a meeting with Turkish President Recep Tayyip Erdoğan, criticized Russia for sending what he called a “dummy” delegation to...
Harvard Varsity President Accepts Pay Cut Amid Federal Funding Cuts
Harvard University President Alan Garber will take a voluntary 25% salary reduction as the institution grapples with significant cuts to federal funding under the administration of U.S. President Donald Trump. According to U.S. media reports on Thursday, citing the university, the pay cut will take effect at the beginning of the new fiscal year on July 1. Harvard presidents typically...
South African President To Hold Talks With Trump Next Week Amid Rising Tensions
South African President Cyril Ramaphosa is set to meet with U.S. President Donald Trump in Washington, D.C., next week, at a time of escalating diplomatic tensions between the two nations, Pretoria announced late Wednesday. According to a statement from the South African presidency, the meeting is scheduled for Wednesday, May 21, 2025, at the White House and will focus on...
Mali’s Military Junta Disbands Political Parties
Mali’s military junta, Assimi Goita, has officially dissolved all political parties in the country. A statement announcing the decision was read on state television on Tuesday, confirming that the move was validated by the country’s military leader, Assimi Goita. The decision follows recommendations made last month during a national conference of political stakeholders in Mali. The forum had called for the...
EU Approves 17th Sanctions Package Against Russia
The European Union on Wednesday approved a fresh package of sanctions against Russia, intensifying pressure on Moscow over its continued war in Ukraine and warning of more severe consequences if a ceasefire is not reached. This marks the EU's 17th round of sanctions since Russia’s full-scale invasion of Ukraine in 2022. The latest measures were finalized by diplomats from all...
Nigerians Set To Be Affected As US Proposes Tax On Diaspora Money Transfers
In a move that could send shockwaves through immigrant communities, US lawmakers have introduced a draft bill proposing a 5% excise tax on all remittances sent abroad. Unveiled by House Republicans on Monday, the bill targets financial transfers from US residents to recipients in foreign countries. While the proposed tax would impact immigrant families broadly, it could pose particular challenges...
