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Australia and the European Union have sealed a landmark trade agreement, eliminating tariffs on almost all Australian critical mineral exports. This move is part of a broader strategy to mitigate concerns over China's dominant position in the global rare earths market. The deal, which took eight years to finalize, signifies a significant step towards strengthening economic ties between the EU and Australia. European Commission President Ursula von der Leyen emphasized that the agreement would help reduce dependency on any single supplier for crucial minerals, highlighting the strategic importance of this partnership. The agreement will not only facilitate the export of critical minerals from Australia to the EU but also remove over 99 percent of tariffs on EU goods exports to Australia. This is expected to result in a substantial reduction of approximately 1 billion euros ($1.2 billion) in annual duties for EU companies. Consequently, EU exports to Australia are projected to grow by up to 33 percent over the next decade. Australian Prime Minister Anthony Albanese noted that the deal is worth approximately 10 billion Australian dollars ($7 billion) annually to the Australian economy. The agreement underscores the importance of diversifying supply chains and reducing reliance on China, which currently controls about 90 percent of the global processing for rare earths. These minerals are vital for producing technological equipment such as electric cars, lithium-ion batteries, and LED televisions. The trade relationship between the EU and Australia is substantial, with EU firms exporting 37 billion euros ($43 billion) worth of goods to Australia in 2025 and 28 billion euros ($33 billion) in services in 2023. The EU was Australia's third-largest two-way trading partner and second-largest source of foreign investment in 2024.

Amazon's cloud computing unit, Amazon Web Services (AWS), has confirmed that its region in Bahrain was disrupted due to drone activity. This incident marks the second time in a month that the company's operations have been affected by the war in the Middle East.An Amazon spokesperson confirmed the disruption, stating that the company is helping customers migrate to alternate AWS regions while it recovers from the incident. However, the company did not provide additional details on the extent of the damage or the expected duration of the disruption.The disruption comes after Iran's Islamic Revolutionary Guard Corps (IRGC) threatened to attack 'economic centres and banks' related to US and Israeli entities in the region. The IRGC-affiliated Tasnim news agency released a list of offices and infrastructure run by top US companies with Israeli links, including Google, Microsoft, and Oracle, which have branches in multiple Israeli cities and Gulf countries.AWS is critical for the operation of many well-known websites and government operations and is Amazon's main driver of profits. Earlier this month, AWS reported that facilities in Bahrain and the United Arab Emirates had lost power, and the company was working to transfer computing workloads to other regions.These attacks come after Iran claimed it is targeting US assets across the Gulf Arab states in retaliation for the joint attack on Iran by the US and Israel that began on February 28. Gulf states have accused Tehran of targeting civilian infrastructure, such as airports and energy facilities.

The ongoing conflict in Gaza has led to a devastating impact on the daily lives of Palestinians, with severe fuel and gas shortages crippling the enclave. The destruction of Gaza's public power network during Israel's war has forced residents to rely on private generators, which have become increasingly expensive.The cost of electricity has risen sharply, with the price per kilowatt-hour increasing from about 2.5 shekels ($0.80) to between 20 and 30 shekels ($7 and $10) – nearly 10 times higher. This surge in prices has placed electricity beyond the reach of many households, forcing them to seek alternative, often inadequate, solutions.Abdullah Jamal, a baker, is one of the many Palestinians struggling to cope with the crisis. He has resorted to using wood to bake bread for displaced families living nearby, highlighting the desperate measures people are taking to survive.The gas crisis has been ongoing for over two years, with limited quantities of gas being allowed into the enclave. Each family receives only 8kg (17lbs) of gas every two to three months, leading to rationing and fears of supply cut-offs.Fuel prices remain volatile, with diesel prices roughly triple their pre-war levels. The shortage of fuel and gas has disrupted the economic and service sectors, with some facilities forced to operate by buying gas originally allocated to stations or households.According to Gaza government data, Israeli authorities have only allowed 1,190 fuel trucks into the enclave out of the 8,050 expected since the ceasefire began, a compliance rate of just 14.7 percent. The territory requires between 350 and 400 cooking gas trucks per month, as well as 15 million litres (4 million gallons) of diesel and 2.5 million litres (660,000 gallons) of gasoline.The humanitarian crisis in Gaza continues to worsen, with over 75,000 Palestinians killed and more than 2 million people facing overlapping crises affecting all aspects of life. The situation remains dire, with hopes of improvement dependent on Israeli procedures controlling the crossings into Gaza.

Iran has launched a significant missile attack on Israel, causing damage and injuries in Tel Aviv. The attack, which occurred on Tuesday, triggered air raid sirens across the city, including in the densely populated areas of Tel Aviv. A multistorey apartment building suffered extensive damage, with gaping holes torn through it, although it was unclear if the damage was from a direct hit or debris from an interception. At least six people were lightly injured at four different sites, according to Israel's Magen David Adom emergency medical service. Police in Tel Aviv reported dealing with multiple impact sites of munitions, while the National Fire and Rescue Authority was searching for people trapped in one building and found civilians in a shelter in another damaged building. In response to the missile strikes, Israel's military carried out a wave of airstrikes in central Tehran on Monday, targeting key command centers associated with the Islamic Revolutionary Guard Corps' intelligence arm and the Iranian Intelligence Ministry. The military also hit over 50 additional targets overnight, including ballistic missile storage and launch sites. The escalation comes amid ongoing uncertainty about possible talks to end the three-week US-Israel war on Iran. The situation remains volatile, with both sides engaging in military actions that could have broader implications for regional stability.

Eritrea's national football team, popularly known as the Red Sea Camels, will host Eswatini, formerly known as Swaziland, in the Moroccan city of Meknes on Wednesday in the first leg of their 2027 Africa Cup of Nations qualifier. This marks the end of an 18-year absence from the premier African national team competition.The match at the 20,000-seat Stade d’Honneur was moved from East to North Africa due to Eritrea's lack of an international-standard venue. Eswatini will stage the return match on March 31, with the aggregate winners advancing to the group stage.Eritrea has not played in the Cup of Nations since a 2008 qualifier against Swaziland. The reason for their absence has not been officially explained, but it is widely believed that many players sought asylum while playing abroad, citing political repression and lengthy military service.The Eritrean National Football Federation President, Paulos Andemariam, announced that the isolation would end, saying, “After positive discussions with our government, we have registered to play in the 2027 AFCON, and I believe we will have a strong team, including many Eritreans playing outside Africa.”The Eritrean squad includes players from various countries, such as Australia, Egypt, England, Germany, the Netherlands, Norway, the Philippines, and Sweden. Siem Eyob-Abraha, with English second-tier club Sheffield United, and Egypt-based striker Ali Sulieman are expected to start.Eritrea's lack of match practice could be a disadvantage, as their last competitive international was a World Cup qualifying defeat in Namibia seven years ago. FIFA has omitted Eritrea from the national team rankings, while Eswatini are 46th in Africa and 159th in the world.

The conflict between the US, Israel, and Iran has escalated with a series of attacks on Iranian cities, including the capital Tehran, and other locations such as Tabriz, Isfahan, and Karaj. These attacks occurred even as US President Donald Trump claimed that Washington was engaged in productive conversations with Tehran to end the war.Iranian media reported that Israeli-US strikes targeted two gas facilities and a pipeline, hours after Trump postponed planned attacks on power infrastructure. The attacks resulted in partial damage to facilities in central Iran, including a gas administration building and a gas pressure regulation station in Isfahan.A leading scholar and professor at a science university in Tehran, Saeed Shamaghdari, was killed alongside his two children in an attack on his residence north of the capital. Iran's English-language news channel Press TV identified Shamaghdari as a teacher at the engineering department of the Iran University of Science and Technology.The head of Iran's emergency service, Jafar Miadfar, reported that 208 children have been killed since the war began on February 28, with 168 of them dying in the US missile strikes on a girls' school in Minab city. Rights groups have called for an investigation into the Minab attack as a potential war crime.More than 1,500 civilians have been killed across Iran, according to the Iranian government. The US-Israel war on Iran has expanded across the Middle East, leading to a spike in oil prices and triggering a global energy crisis.Despite the escalation of violence, Iran's Foreign Minister Abass Araghchi has held calls with several countries, including Egypt, Pakistan, and Oman, in an attempt to open a diplomatic channel. However, senior Iranian officials have denied that Iran is engaged in talks with the US, contradicting Trump's claims of productive conversations.European Commission President Ursula von der Leyen has emphasized the need for a negotiated solution to the conflict, warning that the situation is critical for energy supplies and condemning Iran's efforts to block energy exports through the Strait of Hormuz.

Revolut, the UK banking app, has reported a 57% increase in profits for 2025, but warned that its support for energy-intensive sectors such as crypto and AI could lead to a reputational risk. The fintech company, which can now launch as a fully fledged UK bank after a five-year wait for regulatory approval, offers crypto trading and has applied for a banking licence in the US.The company's annual report highlighted that cryptocurrency mining and AI datacentres demand large amounts of power, with competition for electricity supplies getting steeper since the US-Israel war on Iran sent energy prices soaring over the past month. Revolut's chief executive, Nik Storonsky, hailed another “landmark year” for the company, which has 68.3 million individual customers and 767,000 business customers.Revolut's growth has been rapid, with revenues climbing 46% to £4.5bn and a £1.7bn pre-tax profit for 2025. The company plans to offer a wider array of banking services in the future, such as lending and other products, and has launched mortgage refinancing in Lithuania. Despite the potential risks, Revolut believes its digital-first approach and emphasis on financial inclusion could lead to it being “relatively insulated and even benefit from an orderly energy transition, relative to traditional financial institutions”.

The UK's Competition and Markets Authority (CMA) has concluded its investigation into vet chains, finding that pet owners have overpaid roughly £1bn in fees over five years. This significant finding has led to the implementation of new rules aimed at making the market work better for consumers.The veterinary sector has undergone a rapid transformation, with 60% of vet practices now wholly or partly owned by one of six large groups, three of which are owned by private equity investors. This shift has resulted in higher prices for pet owners, with large veterinary groups (LVGs) charging more for their services.The CMA's investigation revealed that pet owners are willing to pay more for services at LVGs, despite a strong preference for independent vets. The new rules will require vets to publish prices, itemize bills, and clearly indicate when a practice is part of a chain. Additionally, the fee for writing a prescription will be capped at £21, and complaints processes will be strengthened.The Veterinary Surgeons Act of 1966 is set to be updated, with proposals including the creation of a new regulator with powers over businesses and individuals, as well as protection of the job title 'veterinary nurse'. These changes aim to address the lack of transparency and accountability in the veterinary sector.The overhaul of the UK veterinary market serves as a lesson in how an old-fashioned market can be swallowed up by larger, more profit-oriented businesses. The CMA's review of the veterinary sector is part of a broader effort to examine private dentistry and other markets.

Daniel Křetínský, the Czech billionaire who acquired Royal Mail's parent company for £3.6bn last year, has pushed back against criticisms that the service has declined under his ownership. Despite heavy criticism of late deliveries and price rises, Křetínský insisted that service has not deteriorated. In a defensive performance before MPs on the business select committee, Křetínský said he was “deeply sorry” for any letters that arrive late. Since his takeover, Royal Mail has faced trade union disputes over working conditions, raised first-class stamp prices from £1.70 to £1.80, and delivered 16m Christmas letters late. Křetínský disputed a string of complaints, including that service is getting worse and that more lucrative parcels are being prioritized over letters. He argued that the UK's expectations for next-day delivery at relatively low prices are comparatively high compared to other European countries. For instance, he noted that in Italy, first-class letters cost €5.50 (£4.76) and regulators only require delivery targets to be met 80% of the time. With a week to go until Royal Mail’s service targets are reduced by the regulator Ofcom, Křetínský emphasized that the UK’s expectations remain far higher than those in other European countries. From next week, Ofcom will ease pressure on the postal service by lowering Royal Mail’s targets under the so-called “universal service obligation.” It will only require delivery of 90% of first-class mail within one working day (instead of 93%) and 95% of second-class mail within three days (instead of 98.5%). The committee’s chair, Liam Byrne, began the session by stating that Royal Mail is on track to deliver 220m letters late this year out of a total of 5.6bn. Křetínský denied that the service was prioritizing more profitable parcels over letters, attributing any instances of this to crisis moments rather than policy.