Islamic finance goes global as Uzbekistan opens the door
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 20...
Start your day informed with AnewZ Morning Brief: here are the top news stories for 5th of July, covering the latest developments you need to know.
1. Trump signs ‘One Big, Beautiful Bill’ into law, calls it start of America’s ‘golden age’
Legislation delivers core parts of his second-term agenda, including permanent tax cuts and a $150 billion increase in defense spending. It also enacts major reforms in healthcare and immigration, while slashing Medicaid funding and rolling back Biden-era clean energy credits.
Trump claims the bill will 'fuel massive economic growth' and usher in a 'Golden Age of America.' However, critics warn it could add $3.4 trillion to the national debt.
2. Hamas agrees to negotiate Gaza ceasefire, awaits Israel’s response
Hamas has delivered its official response to the U.S.-mediated Gaza ceasefire proposal, describing it as positive. In a statement the group said it was ready to begin immediate and serious negotiations. The reply was issued after consultations with other Palestinian factions.
Israeli media reports that the government is currently reviewing Hamas’ response, though no official comment has been made.
3. Pakistan’s army claims 30 suspected militants killed near Afghan border
The Pakistan army claimed it killed at least 30 suspected militants as they attempted to cross the Pakistan-Afghanistan border.
The military said the movement of a group of militants trying to infiltrate through the Pakistan-Afghanistan border was detected by security forces in the general area of Hassan Khel in the North Waziristan tribal district, near the border.
4. Trump, Zelenskyy discuss air defense, joint production in phone call
Ukrainian President Volodymyr Zelenskyy described his call with U.S. President Donald Trump as “very important and productive.” They discussed recent Russian attacks and the situation on the front lines.
Zelenskyy noted that Trump was well-informed and expressed gratitude for his attention to Ukraine. He added that both sides agreed to enhance Ukraine’s air defense and arrange a meeting between their teams.
5. 17 ECO summit concluded in Khankendi
The 17th Summit of the Economic Cooperation Organization has wrapped up in Azerbaijan's Khankendi. Top officials and delegations of the ten member states used the chance to tackle a number of regional and global issues.
Bilateral meetings also took place, reinforcing the strong alliance among ECO member states during a critical period. The summit’s location in Karabakh symbolized the region’s historical and cultural significance.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the ground".
Five years after Evergrande's debt crisis rattled global markets, founder Hui Ka Yan has been sentenced to life in prison, marking a dramatic new chapter in the downfall of China's former property giant.
Azerbaijan’s support for Ukraine could provide a model for neighbouring countries seeking to strengthen their sovereignty, the director of development at an organisation supporting Ukraine’s armed forces has told AnewZ.
Iran has condemned new U.S. sanctions as “economic terrorism” and “crimes against humanity”, accusing Washington of pursuing a decades-long policy of hostility. Tehran said the measures would not weaken its resolve to defend its sovereignty and national interests.
Around 70 bodies are expected to be buried as families continue to search for missing relatives.
One person was killed and three others injured on Friday when an 18-year-old man armed with a sword attacked students at a school in Fagersta, central Sweden, before police shot and detained him.
Virgin Trains has moved a step closer to challenging Eurostar’s three-decade dominance of Channel Tunnel passenger rail, potentially giving travellers more choice between the UK and mainland Europe.
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the ground".
Nearly 100 days after dozens of children were abducted from a school in northeastern Nigeria's Borno State, parents have taken to the streets to demand urgent government action to bring them home.
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