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The International Monetary Fund has cautioned that the US‑Israel war on Iran could ignite a new wave of global inflation, jeopardising the outlook for world growth even if the current cease‑fire endures. IMF Managing Director Kristalina Georgieva announced on Thursday that the Fund will lower its growth projection for the global economy at next week’s IMF‑World Bank Spring Meetings, stating that the conflict has turned a potential upgrade into a growth downgrade. Earlier this year the IMF had lifted its forecast to 3.3 % growth for the 191‑member economies. That optimism evaporated after the war erupted on 28 February, driving up oil and natural‑gas prices, damaging energy infrastructure such as refineries and tanker terminals, and disrupting fertilizer shipments essential for global agriculture. Georgieva warned that the conflict is eroding business and consumer confidence and urged member nations to “get your house in order” as heightened defence spending adds further strain to the world economy. She also expressed confidence that the IMF will secure U.S. congressional approval this year for a 50 % increase in quota‑based lending resources, unlocking more of its roughly $1 trillion lending capacity. The United States, the Fund’s largest shareholder, would thereby provide crucial financial reassurance amid uncertain future developments. In a newly released report, the IMF estimated that countries directly involved in armed conflict typically see output fall by about 3 % at the outset, accumulating to roughly 7 % losses over five years. However, the study noted that economies like the United States may avoid severe economic damage because the fighting does not physically affect their own territory. Central banks are also on alert. Georgieva emphasized that “the central bank cannot afford to let inflation spiral out of control,” a statement that precedes the U.S. Federal Reserve’s two‑day policy meeting scheduled for 28–29 April, where interest‑rate decisions will be made amid political pressure from President Trump to lower rates. Other monetary authorities, including the Bank of Mexico, warned that the Middle‑East turmoil could push inflation higher in Latin America’s second‑largest economy, underscoring the broader spill‑over risks of the conflict.

The LA28 Olympics has opened ticket sales globally after a record-setting first week of local presales, underscoring strong early demand for the Games. The organisers reported that they sold more tickets in the first week than any previous Olympic Games had in their opening week.The initial phase of ticket sales was limited to residents of the Los Angeles and Oklahoma City areas, with hundreds of thousands of $28 tickets snapped up by local buyers. However, some buyers complained about high costs and fees, and a lack of ticket availability.“The success of the locals presale speaks for itself,” LA28 CEO Reynold Hoover said in a statement. “We’re thrilled by the level of interest and enthusiasm in tickets to the Games.”The global sales launch, known as “Drop 1,” runs through April 19 for fans who were selected through a draw and assigned time slots. Tickets are available across Olympic events, including the opening and closing ceremonies.Organisers acknowledged that some fans experienced sticker shock after a marketing push around the $28 entry-level tickets, only to find many of the cheapest seats had already gone quickly or that some events were priced much higher.Allison Katz-Mayfield, LA28’s senior vice president for games delivery revenue, told the Reuters news agency that the outcome was not unexpected because the least expensive tickets were always likely to move fastest.“We really wanted to make sure that the locals had access to the most affordable tickets, and we saw that come to life through this presale,” she said, adding that more low-cost inventory would be released in future sales phases.LA28 said more than 1 million tickets priced at $28 will ultimately be made available to the public. Nearly half of all Olympic tickets are priced under $200, while more than three-quarters, including finals, are less than $400. Only about 5 percent of tickets cost more than $1,000, organisers said.The organising committee is under pressure to show it can deliver a fiscally responsible Games without burdening taxpayers, who could be on the hook for cost overruns. LA28 has said its more than $7bn operation will be funded principally through ticket sales, sponsorship and hospitality.

OECD preliminary figures reveal a 23% decline in international development assistance between 2024 and 2025, the steepest annual fall recorded since the organization began tracking aid.The United States was the primary catalyst, with its official development assistance slashing nearly 57% in 2025, a reduction that accounts for roughly three‑quarters of the overall drop.Total aid from the 34 DAC members fell from $214.6 billion to $174.3 billion. American contributions shrank from about $63 billion in 2024 to just under $29 billion the following year, according to the OECD.Other major donors—including Germany, the United Kingdom, Japan and France—also trimmed their budgets, and only eight DAC countries managed to meet or exceed their 2024 levels.The cuts arrive at a time of heightened global economic and food‑security uncertainty, exacerbated by the ongoing US‑Israeli conflict with Iran.OECD official Carsten Staur described the plunge as “deeply concerning,” urging donors to reverse the trend as humanitarian needs surge. Oxfam’s Development Finance Lead Didier Jacobs warned that wealthy governments are “turning their backs on millions of lives in the Global South” by cutting life‑saving aid while funding conflict.Academic research links the U.S. reductions to a rise in armed conflict across Africa, with the Center for Global Development estimating that the cuts could have caused between 500,000 and 1,000,000 excess deaths in 2025. A Lancet analysis warns that continuing the downward trajectory may result in **over 9.4 million additional deaths by 2030**.Under President Trump, the United States has dismantled the U.S. Agency for International Development (USAID) and pursued a handful of bilateral agreements with African nations that tie aid to mineral access and health data. Simultaneously, the administration is seeking a historic $1.5 trillion military budget for FY2027** and between **$80 billion and $200 billion** for the Iran‑Israel war effort.Analysts and NGOs are calling on DAC members to restore aid levels and reinforce the global humanitarian system, which they say faces its most serious crisis in decades.

The strategic Strait of Hormuz, linking the Persian Gulf to the Gulf of Oman, has become the focal point of the Israel‑U.S. war on Iran that began in February. In peacetime the narrow waterway handled about 20% of global oil and liquefied natural gas shipments without any tolls, but the conflict has turned it into a contested zone. After a series of Israeli and U.S. strikes, Iran retaliated by targeting merchant vessels it deemed hostile, effectively shutting the passage and triggering one of the most severe energy‑distribution crises in recent memory. While a two‑week ceasefire, brokered by Pakistan, was declared on Tuesday, Tehran has issued a set of official terms that would govern the strait moving forward. According to Iran’s foreign minister Abbas Araghi, safe passage will be allowed in coordination with the Iranian armed forces and subject to technical limitations. The Islamic Revolutionary Guard Corps (IRGC) has even published a new navigation map that pushes traffic farther north, away from the traditional route near Oman’s coast, citing the risk of anti‑ship mines. Central to Tehran’s 10‑point peace proposal is the idea of charging fees for strait usage. Iranian media report that the plan could levy up to $2 million per vessel—a sum to be shared with Oman—or a charge of $1 per barrel of oil shipped. The revenue would allegedly fund reconstruction of military and civilian infrastructure damaged by the U.S.–Israeli campaign. Oman has publicly rejected any toll scheme, with Transport Minister Said Al‑Maawali reminding that the country has already signed all relevant international maritime transport agreements that prohibit such fees. International law adds another layer of complexity. The United Nations Convention on the Law of the Sea (UNCLOS) prohibits levying charges for mere passage through international straits, allowing fees only for services like navigation assistance or port use. Neither the United States nor Iran have ratified UNCLOS, but the principle remains a benchmark for maritime norms. Analysts suggest a possible workaround: charging for de‑mining and safety services rather than for passage itself, which could be permissible under existing legal frameworks. The proposal has sparked diplomatic pushback. At the United Nations Security Council, Bahrain led a resolution urging coordinated reopening of the strait, backed by Qatar, the UAE, Saudi Arabia, Kuwait, and Jordan. The resolution passed with 11 of 15 votes, but was vetoed by Russia and China, who argued it unfairly targeted Iran and ignored the initial strikes. Beyond the region, the United States is unlikely to accept indefinite tolls. Former President Donald Trump, who announced the ceasefire, warned that U.S. forces would remain in the area and threatened to resume attacks if negotiations faltered. American troops are reportedly “hanging around” to assist with traffic buildup, though the extent of their operational control remains unclear. Maritime analyst C. Uday Bhaskar notes that only three to five ships have traversed the strait since the ceasefire began, underscoring the lingering uncertainty for global shippers. He adds that ship owners facing multi‑million‑dollar losses each day may ultimately acquiesce to Iran’s terms, at least temporarily. Should Iran implement a toll regime, the immediate impact would fall on Gulf oil‑producing nations, but the ripple effects could destabilize global energy markets, already strained by supply shocks. Major powers such as the United Kingdom have been coordinating with a coalition of 40 countries to explore alternative mechanisms for reopening the waterway without conceding to tolls. In sum, Iran’s proposed protocol for the Strait of Hormuz introduces a contentious new variable into an already volatile geopolitical landscape, pitting national security interests against established maritime law and the broader stability of world energy supplies.

Prominent Kashmiri separatist Aasiya Andrabi has been handed down three life sentences by an Indian court, a move that has been widely condemned by activists and legal experts. Andrabi, the founder of the banned all-women's organisation Dukhtaran-e-Millat (DeM), was sentenced on March 24 by a special National Investigative Agency (NIA) court in New Delhi.Andrabi, 64, and her two associates, Sofi Fehmeeda and Nahida Nasreen, were arrested by the NIA in 2018 under the Unlawful Activities Prevention Act (UAPA), a draconian anti-terror law. The UAPA was introduced in 2008 and amended in 2019 to allow authorities to declare individuals as 'terrorists'. Andrabi was accused of waging war against the Indian government, raising funds for terrorist acts, and being a member of a terrorist group.However, the court found no evidence related to these charges, yet convicted her on less serious allegations such as provoking hostility between communities and undermining national integration. The court noted that while Andrabi's actions did not directly cause violence, they could evoke sentiments that may lead to violence.Legal experts say Andrabi's conviction is mainly based on offensive speech-making, raising questions about India's tolerance of dissenting voices. 'Ideology is not punishable by law; only actions are,' a Kashmir-based legal researcher said. 'But the UAPA's scope has been widened significantly through several amendments.'Andrabi's son described the conviction as 'effectively a death sentence' given her age and time already spent in jail. Her husband, a former rebel leader, has also been imprisoned since 1992. Critics argue that the conviction fits a broader pattern in which all forms of political resistance are disciplined in Kashmir.

Liverpool has confirmed that Andy Robertson will be leaving the club at the end of the season. The 32-year-old Scottish defender has been an integral part of the team since joining from Hull in 2017 for £8m.Robertson has made 373 appearances for Liverpool, winning two Premier League titles, the Champions League, the FA Cup, two League Cups, the Club World Cup, and the UEFA Super Cup. He has been a key player under Jürgen Klopp and has established himself as one of the club's greatest full-backs.The Scotland captain has lost his regular starting role to Milos Kerkez this season but remains a popular figure in the dressing room. Robertson has expressed his gratitude to the club, stating, “It’s never easy leaving a club like Liverpool. It has been a huge part of mine and my family’s life for the last nine years.”Liverpool has hailed Robertson as “a genuine Liverpool legend, having played a fundamental role in the successes of recent years.” The club has announced that celebrations of Robertson's legacy will be held after the conclusion of the campaign, with the defender fully focused on helping the team end the season successfully.

Janett and Erika Liriano, growing up in Queens as daughters of Dominican immigrants, were encouraged to dream big. By their late 20s, Janett had been named a Forbes 30 Under 30 Listmaker and was chief of staff at a biopharmaceutical firm, while Erika was making a name for herself in venture capital.However, feeling unfulfilled, they decided to leave their lucrative jobs and move to the Dominican Republic to start a chocolate company. Inspired by their parents' homeland and the country's rich cacao resources, they aimed to create a vertically integrated cacao company that would benefit local farmers.The Dominican Republic produces about 60% of the world's organic cacao, but most of its export is raw beans, with the majority of profit made in countries like Belgium, Germany, and the US. The sisters saw an opportunity to change this and create a more equitable supply chain.After months of research and planning, they launched Inaru Chocolate, a company that contracts directly with farmers and pays them a fixed rate, ensuring fair prices and better livelihoods. The company pays farmers 3% of every product sold, resulting in 30 to 50% higher earnings than what most other buyers offer.In 2023, they opened a 7,000-sq-ft chocolate factory outside Santo Domingo, employing 35 people and producing high-end chocolate. Their business model has attracted brands like the W Hotel and Zingerman's, with 80% of their business coming from B2B sales.The sisters' journey hasn't been easy, facing challenges like securing funding and navigating language barriers. Despite these obstacles, they have raised $12m in investments and are committed to creating jobs and empowering local farmers in their parents' homeland.

In a stark address delivered as the cease‑fire in the Iran conflict teetered, IMF Managing Director Kristalina Georgieva warned that the war will leave a permanent scar on the global economy, slowing growth beyond the IMF’s original projections for 2026. Georgieva noted that, had the hostilities not erupted six weeks ago, the Fund would have been poised to raise its 2026 growth outlook. Instead, even the most optimistic scenario now entails a downgrade, and a swift return to pre‑war conditions appears unlikely. The uncertainty surrounding the cease‑fire—exacerbated by divergent positions of Washington and Tehran—has already pushed oil prices higher, reflecting fears of continued disruptions to shipments through the Strait of Hormuz, a vital conduit for world energy supplies. According to the IMF’s upcoming World Economic Outlook, the conflict’s “scarring effects” will translate into lower living standards worldwide. The Fund had previously forecast global growth of 3.1% in 2026, a modest slowdown from 3.2% in 2025, buoyed by a tech‑driven investment surge. Georgieva emphasized that the war arrived when the economy was riding “considerable momentum” from technology investment and supportive financial markets. She outlined the mechanisms of damage: damaged infrastructure, supply‑chain interruptions, eroded confidence, and prolonged uncertainty over oil and gas production in the region. These factors will depress growth regardless of whether a peace agreement is ultimately reached. Georgieva highlighted that the most vulnerable will be net oil‑importing nations, poorer economies and small island states, which stand to feel the brunt of higher energy costs and reduced trade flows. She urged governments to avoid unilateral measures such as export bans or price controls, warning that such actions could "pour gasoline on the fire" and further destabilise markets. With many countries already carrying elevated debt levels and higher borrowing costs, the IMF chief called for targeted, temporary assistance to protect the most at‑risk households. She cautioned against broad tax cuts or blanket energy subsidies, which could stoke inflation and strain fragile public finances. Central banks, she added, should keep policy rates steady while remaining ready to act against inflationary pressures. Bank of England Governor Andrew Bailey, who also chairs the Financial Stability Board, echoed the IMF’s concerns, describing the conflict as a "very big shock" that has heightened market volatility. He stressed that the situation remains fluid and that policymakers must stay vigilant. Overall, the IMF’s message is clear: the Iran war will reshape the global growth trajectory for the foreseeable future, and coordinated, prudent policy responses are essential to mitigate its lasting impact.

What would Henrik Ibsen’s iconic heroine Nora look like in today’s Britain? In this bold re‑imagining, playwright Anya Reiss transports the 19th‑century drama into a world of high‑salary banking, social‑media façades and post‑pandemic consumer excess. Set against a sleek, white‑goods‑strewn stage designed by Hyemi Shin, the story follows Nora (played by Romola Garai) as the wife of a lucrative London banker, Torvald (Tom Mothersdale), who is also battling drug addiction. Though presented as a “trophy wife”, Nora is far sharper than her husband realises – she has secretly rescued the family from financial collapse and funded Torvald’s recovery, all while maintaining a veneer of festive, pre‑Christmas splurging. The familiar Ibsen plot points survive the update: a blackmail threat from Torvald’s colleague Nils Krogstad (James Corrigan) and a visit from the destitute, marriage‑for‑money‑failed friend Kristine (Thalissa Teixeira). Their interactions expose the tension between outward affluence and hidden desperation. Reiss’s version is unmistakably contemporary, peppering dialogue with references to Instagram, a stock market rattled by conflict in the Middle East, and the relentless pursuit of material status. This backdrop reframes the marital power struggle as a clash of class and modern capitalism, asking whether love can ever be insulated from market forces. Despite the heavy thematic load, the cast delivers a series of compelling performances. Garai’s Nora oscillates between calculated seduction – even donning a provocative nurse’s outfit for a flirtatious dance – and a keen intellect that refuses to be reduced to a mere commodity. Her portrayal suggests that, for Nora, the body has become a form of currency, yet she remains acutely aware of the performative nature of both marriage and motherhood. Notably, the children appear only through baby‑monitor audio, a deliberate choice that underscores the couple’s emotional distance and mirrors the original’s focus on Nora’s internal emancipation. The climax arrives in a charged confrontation where Nora questions, “Is love meant to be subject to the market?” The line encapsulates Reiss’s preoccupation with the commodification of intimacy, even as it feels like a summarising refrain rather than a fresh revelation. Ultimately, the production offers a nuanced, if occasionally over‑engineered, vision of Ibsen’s feminist aspirations. It hints at a future where Nora and Torvald might seek couples therapy to untangle their financial and emotional entanglements – a decidedly modern resolution. A Doll’s House runs at the Almeida Theatre, London, until 23 May.