The US, Iran, and Pakistan announced an impending deal, potentially reopening the Strait of Hormuz. Chinese analysts, however, caution that Israel's reaction and the fate of Iran's nuclear program pose significant challenges.
Host Emmanuel Macron aims for a smooth G7 summit, but Donald Trump's unpredictable attendance and focus on Iran, Ukraine, and Gaza pose challenges. Global economic woes, including inflation and supply chain issues, are key agenda items, alongside China's trade practices.
The Bank of England has kept interest rates at 3.75% but warned that future increases may be necessary as the Middle East conflict drives up energy costs. The MPC voted 8-1 to hold rates for the third consecutive meeting, with only chief economist Huw Pill dissenting. Governor Andrew Bailey said higher inflation is unavoidable, with worst-case scenarios showing inflation could peak at 6% and rates might need to rise to 5.25%. UK inflation rose to 3.3% in March, with energy bills expected to rise 16% to £1,900 by summer.
The Bank of England maintained its benchmark interest rate at 3.75% in an 8-1 vote, with Governor Andrew Bailey warning that higher inflation is unavoidable due to the Middle East conflict. The MPC, which has cut rates six times since mid-2024, outlined three scenarios where inflation could rise to between 3.3% and 6.2%, with unemployment reaching 5.5-5.6% and rates needing to rise to between 4.25% and 5.25%. UK inflation rose to 3.3% in March. The decision provides relief to the Labour government before local elections next week.
Faced with US-China rivalry and an uncertain future even beyond Donald Trump’s presidency, middle powers are building fluid coalitions and partnerships to hedge against American and wider unpredictability, according to a leading Southeast Asian affairs scholar. Traditional US allies are asserting greater autonomy and forming their own networks to hedge against risks – a shift that is creating openings for smaller neutral states to further diversify their partnerships, while mitigating the danger...
Khushdil Shah played a match-winning unbeaten knock of 44 off 14 deliveries, scoring 37 runs in the final 10 balls to guide Karachi Kings to a five-wicket victory over Lahore Qalandars while chasing 200. David Warner anchored the chase with 63*, while Khushdil dispatched Pakistan's premier pacers Shaheen Afridi and Haris Rauf at the death to keep Karachi's PSL campaign alive.
Russia's Deputy Foreign Minister Alexander Pankin says the unpredictability of the Trump administration is the biggest problem in Moscow-Washington relations. He noted relations are at a low point, though direct contacts between the presidents in Anchorage were fruitful.
