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Intrigue

Daily flyovers

Latest news for 22 April 2025

Quick hits of consequential news from all corners of the world.

  1. 01

    NEW YORK

    Stocks fall after Trump renews attacks on Fed chair.

    US markets shed another $1.5T on Monday after Donald Trump called the Fed’s Jerome Powell a “major loser” for declining to cut rates (the Fed’s wary of inflation). Against that backdrop, gold hit a record $3,500. (The Guardian)

    Comment: There aren’t many sacred things on Wall St, but central bank independence is one of them.

  2. 02

    MOSCOW

    Putin proposes direct talks after violating Easter truce.

    It’s the first time since his full-scale invasion of Ukraine that the Russian president has signalled openness to direct talks with Kyiv, and it comes after Trump suggested he’d walk away if there’s no progress on negotiations. (BBC)

    Comment: It’s been 42 days since Ukraine accepted, but Putin dismissed, Trump’s proposed 30-day ceasefire. Putin’s latest reference to direct talks with Ukraine feels like another attempt to string things along while his attacks continue.

  3. 03

    LIMA

    Peru to open global defence fair, Russians eye a deal.

    Peru is hosting a big air show (SITDEF 2025) this upcoming weekend, and one of the many arms-makers there will be Russia’s state-owned Rosoboronexport. (MSN)

    Comment: We were intrigued to see the Russian firm make promises of a regional service centre in Peru. As well as a show of reach, it’s an attempt to counter one of the criticisms of Russian kit (hard to service).

  4. 04

    TUNIS

    Tunisian court jails opposition leaders on conspiracy charges.

    The sentences range from 13 to 66 years — the biggest went to a prominent business leader who (like the others) rejects the charges as fabricated. President Said has ruled by decree since 2021 and now controls the courts. (France 24)

    Comment: You might recall the Arab Spring began in Tunisia when mass protests ousted their long-time dictator. But after winning a landslide election as an outsider in 2019, Said now induces a gloomy deja vu for many Tunisians.

  5. 05

    DHAKA

    India, Bangladesh mini trade war continues.

    Delhi and Dhaka have found themselves in a mini trade war lately, after Bangladesh blocked Indian yarn imports at select ports (citing complaints of unfair competition). India retaliated by denying trans-shipment facility access for its export-dependent neighbour. (The Straits Times)

    Comment: As the global trading system comes under more strain, there’ll be more side deals where possible, but more side trade-wars, too.

  6. 06

    BERLIN

    Merz vows to make Germany “economically stronger”.

    Germany’s chancellor-in-waiting Friedrich Merz has pledged to use new investments and tax cuts to make Germany “economically stronger, safer, fairer and more modern.” He’s also pledged a more active Germany on the world stage, "not loudly, but reliably — not arrogantly, but in partnership." (DW)

    Comment: He’s sounding more confident as he approaches his May 6 swearing-in (yes, his last line above is being widely interpreted as a diss at President Trump).

  7. 07

    BEIJING

    China, GCC hold first forum on peaceful nuclear cooperation.

    China and the Gulf Cooperation Council (GCC) have held talks on the “Peaceful Use of Nuclear Technology”, while Iran’s foreign minister just withdrew from a nuclear conference at DC’s Carnegie Endowment, over a dispute on whether he’d take questions after his virtual address. (Newsweek)

    Comment: Nuclear powers use access to nuclear tech as a carrot, but this story is reminder how it can work both ways: the Saudis have long listed US nuclear tech as the price to recognise Israel, and signing a nuclear MOU with China (as the Saudis just did) is a simple way to tap the sign again.

  8. 08

    WASHINGTON DC

    Is Hegseth on his way out?

    Following the NYT’s reporting ($) on allegations he popped classified details into yet another unclassified Signal chat, NPR is now reporting that the White House is weighing up replacing the US defence secretary. The White House has denied the reports, calling them fake news. (NPR)

    Comment: We’ve crunched the numbers and can confirm that Hegseth just reached eight Scaramuccis (each measured as 11 days on the job).