Northern Pakistan breaks heat records as Gilgit-Baltistan hits 48.5°C
Northern Pakistan recorded some of its highest temperatures ever on Saturday, with Gilgit-Baltistan’s Chilas district reaching 48.5°C (119.3°F), b...
Bidzina Ivanishvili, Georgia’s wealthiest individual and former prime minister, is suspected of transferring assets to Georgia to avoid U.S. sanctions. Transparency International (TI) Georgia claims recent tax code amendments, which allow tax-free asset transfers from offshore accounts, were tailored to benefit Ivanishvili.
With an estimated fortune of $4.9 billion, largely held in offshore accounts, Ivanishvili has faced growing scrutiny. The U.S. imposed sanctions on him in response to Georgia’s political crackdown, including the suspension of EU accession talks and violent suppression of protests. TI Georgia suggests he is shifting company ownership from offshore entities to domestic firms. The UK may also sanction him, which could affect his businesses linked to British Overseas Territories.
In January, nearly $500 million worth of artwork entered Georgia, allegedly from Ivanishvili’s collection, raising further concerns.
Georgia’s ruling party, Georgian Dream, has defended Ivanishvili, calling the threat of sanctions "without foundation" and crediting him for the country's "democratic breakthrough." The head of Georgia’s parliamentary finance committee, Paata Kvijinadze, justified the tax changes, stating they were intended to attract investment.
Ivanishvili has also sued Swiss bank Julius Baer, alleging it misinterpreted U.S. sanctions. His long-running disputes with Credit Suisse over financial mismanagement have reportedly fuelled his distrust of Western institutions.
Experts warn that Georgia’s economy faces significant risks due to ongoing political instability and international isolation. While the government highlights a recent $6 billion investment deal with the UAE as a sign of economic resilience, analysts predict stagnation and growing fiscal challenges.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Following a deadly glacier collapse in Blatten, near the Swiss Alpine village of Kandersteg, the town is on high alert as melting permafrost and shifting rock threaten another potential disaster after it was buried a month ago.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Armenia’s Foreign Ministry has reaffirmed that the country’s territory cannot be used by any third party to carry out military operations against neighbouring states.
Armenian Prime Minister Nikol Pashinyan says the country needs a new constitution that reflects its current realities and has a clear purpose.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
Afghanistan’s Deputy Prime Minister for Economic Affairs, Abdul Ghani Baradar, met with Azerbaijani Prime Minister Ali Asadov in Baku to discuss expanding trade and developing the Lapis Lazuli transport corridor.
Azerbaijan and Kyrgyzstan have explored new avenues for energy cooperation during a high-level meeting in Baku.
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