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In a decisive move, the House of Representatives has greenlit President Bola Tinubu's proposal for a substantial external loan totaling $6 billion, primarily designed to address fiscal deficits and support critical infrastructure initiatives. This approval facilitates the federal government’s ability to secure financing from international lenders based in the United Arab Emirates and the United Kingdom. The comprehensive financial package encompasses a significant $5 billion Total Return Swap arrangement with First Abu…

US has spent $12bn on Iran war, White House economic chief says, as Pentagon signals escalation Kevin Hassett gives latest cost since Feb. 28 joint US-Israel strikes; Defense Secretary Pete Hegseth says bombing of Iran is “about to surge dramatically” Standfirst: The Trump administration faces growing questions over the war’s price tag and purpose. Markets remain on edge over possible Strait of Hormuz disruptions, while Senate Democrats warn of “mission creep.” The United States has spent $12bn on its war against Iran since…

Ukraine will need roughly €500 billion to rebuild from Russia’s war, a joint assessment by the World Bank, United Nations and European Union said, putting a price tag nearly three times the country’s annual economic output on nationwide recovery as the conflict enters its fifth year. The estimate — about $588 billion — is 12% higher than last year’s figure, reflecting a winter of relentless strikes on the power grid that left millions without heat or electricity. The damage tally runs through the end of December, the report…

eBay has agreed to buy Depop from Etsy in a $1.2 billion deal, a move that deepens the online marketplace’s push into secondhand fashion and the Gen Z resale economy. The companies said the transaction is expected to close in the second quarter of this year. The acquisition is aimed at broadening eBay’s reach with younger shoppers and reinforcing its long-term growth strategy in “pre-loved” apparel and accessories, a category that has surged alongside climate-conscious and cost-aware buying habits. “Depop has built a…

Trump says nations to pledge $5B for Gaza as strikes shatter fragile ceasefire President Donald Trump said member states of what he called the Board of Peace will announce more than $5 billion in pledges for reconstruction and humanitarian relief in Gaza at a meeting Thursday, alongside commitments of personnel for a United Nations–authorized stabilization force and local policing in the enclave. In a post on Truth Social, Trump said the gathering — described as the group’s first official meeting — will be held at the…

WHO Launches $1 Billion Global Appeal for Health Care Access in Humanitarian Crises The World Health Organization (WHO) has launched its 2026 global appeal, aiming to ensure that millions of people affected by humanitarian crises and conflicts can access essential health care. The appeal seeks nearly **US$1 billion** to address the health needs in 36 emergencies worldwide, including **14 Grade 3 emergencies** that represent the highest level of organizational response. These emergencies encompass both sudden-onset and…

U.S. clears $9 billion sale of Patriot PAC-3 interceptors to Saudi Arabia The U.S. State Department has approved a potential sale of Patriot interceptor missiles and related equipment to Saudi Arabia valued at an estimated $9 billion, the Pentagon said Friday. The package centers on 730 Patriot Advanced Capability-3 Missile Segment Enhancement interceptors, known as PAC-3 MSE, with Lockheed Martin named as the principal contractor. In its announcement, the Pentagon said the proposed sale will not alter the military balance…

NEW DELHI/DUBAI — India signed a $3 billion liquefied natural gas supply deal with the United Arab Emirates on Monday, elevating India to the UAE’s top customer and deepening ties as the two countries pledged to expand trade and pursue a strategic defense partnership. Under the agreement, Abu Dhabi’s ADNOC Gas will supply 0.5 million metric tons of LNG annually to Hindustan Petroleum Corp. for 10 years. ADNOC Gas said the contract lifts the total value of its agreements with Indian buyers to more than $20 billion,…

The White House has asked countries to pay $1 billion for a permanent seat on a new “Board of Peace” chaired by U.S. President Donald Trump, according to a draft charter seen by AFP and shared with invitees. The body—initially framed as a vehicle to oversee Gaza’s reconstruction—would be empowered to address conflicts far beyond the Palestinian territory, positioning itself as an alternative to existing multilateral institutions. Under the terms outlined in the charter, member states would be represented by their heads of…

Ethiopian Airlines breaks ground on $12.5 billion Bishoftu International Airport, billed as Africa’s largest by 2030 Ethiopian Airlines has launched construction on a $12.5 billion greenfield hub in Bishoftu, a town about 45 kilometers (28 miles) southeast of Addis Ababa, in a project officials say will become Africa’s biggest airport when completed in 2030. The state-owned carrier has been awarded the contract to design a four-runway complex at the site, where earthworks have begun. Prime Minister Abiy Ahmed Ali, announcing…