World News Live Updates: Long-haul carrier Emirates reports record annual profit of $5.2 billion
Emirates has announced annual profits of USD 5.2 billion, cementing its status as one of the most profitable carriers globally. The Dubai-based airline carried 53.7 million passengers over the year, up from 51.9 million the previous year.
After-tax profits hit USD 4.7 billion, while the wider Emirates Group posted a USD 5.6 billion profit, boosted by its strong global operations.
“Our excellent financial standing enables us to keep growing,” said chairman Sheikh Ahmed bin Saeed Al Maktoum, noting the airline’s ability to adapt to ongoing global uncertainty.
Operating a fleet of 260 aircraft, Emirates flies to 148 destinations worldwide. The reported figures cover its fiscal year from April 1, 2024, to March 31, 2025.
World News Live Updates: Australian Greens chief loses his own seat
Greens leader Adam Bandt has lost his long-held seat of Melbourne, conceding defeat to Labor’s Sarah Witty after 15 years in parliament. Bandt blamed the shift on progressive voters backing Labor to keep opposition leader Peter Dutton out of power.
“Many, like me, wanted him nowhere near government,” he told reporters.
The Greens are yet to secure a seat in the lower house, though one remains too close to call. Bandt noted the party could still claim 13% of the Senate vote, potentially giving them balance of power in the upper house.
World News Live Updates: The Bank of England is expected to cut interest rates in the face of US tariffs threat
The Bank of England is expected to cut interest rates on Thursday despite rising inflation, as it weighs the broader economic risks from U.S. tariff policies under President Trump. Most economists predict the Monetary Policy Committee (MPC) will lower the main rate by a quarter point to 4.25%, with some suggesting a half-point cut is possible. The decision will be announced at 12:02 p.m., delayed slightly to observe a two-minute silence for Victory in Europe Day.
The rate cut would be the latest in a series since August 2024, when the bank began easing borrowing costs from a 16-year high of 5.25%. The move comes amid fears that new U.S. tariffs, including a 10% baseline tariff on UK imports, could trigger a broader global trade slowdown. Although those tariffs were paused for 90 days, uncertainty remains.
Economists will closely watch the Bank’s new economic forecasts, its first since Trump’s April tariff announcement. These projections on growth and inflation could signal whether the MPC is prepared to act more aggressively. According to Oxford Economics‘ Edward Allenby, the committee has shown signs of adopting a more proactive stance.
Despite UK inflation sitting at 2.6%, above the Bank’s 2% target, and likely to rise due to recent hikes in household bills, analysts expect a cut. The potential for falling oil prices and lower demand linked to trade tensions may ease inflationary pressures.
Globally, inflation has eased from the highs seen in recent years, following aggressive rate hikes in response to supply chain shocks and the war in Ukraine. With that moderation, central banks, including the European Central Bank, have begun easing rates. However, the U.S. Federal Reserve held steady this week, choosing to monitor the economic fallout of Trump’s tariffs before adjusting policy.
World News Live Updates: Cardinals return to Sistine Chapel to vote on new pope after first ballot fails
Cardinals returned to the Sistine Chapel on Thursday to continue voting for a new pope, after the first round on Wednesday ended without a decision, signaled by black smoke rising from the chapel’s chimney. Though some expected a quick vote, electing a successor to Pope Francis may take several more ballots, as 89 votes are needed for a two-thirds majority.
Historically, papal elections have required anywhere from three to 14 rounds of voting. John Paul I was chosen on the fourth ballot in 1978, John Paul II on the eighth, and Pope Francis on the fifth in 2013.
The conclave began Wednesday with a dramatic and solemn ceremony steeped in centuries of tradition. Cardinal Pietro Parolin, considered a frontrunner and secretary of state under Francis, presided as the senior eligible cardinal, leading the oath of secrecy before Michelangelo’s Last Judgment. Each cardinal pledged silence, laying a hand on the Gospel.
Inside, the scene was one of ritual and reverence—Latin chants, red robes, and incense. Outside in St Peter’s Square, thousands watched on giant screens. While many waited patiently, some drifted away as voting stretched into the evening. Those who stayed erupted in cheers when smoke finally emerged, despite its black color indicating no result yet.
World News Live Updates: Gaza rescuers say Israeli strike killed five
Early Thursday, an Israeli airstrike in northern Gaza killed five members of the Abu Rayyan family and injured several others in Beit Lahiya, according to Gaza’s civil defence agency. The Israeli military has not yet commented on the incident.
This attack follows a deadly bombardment on Wednesday that reportedly killed 59 people, mostly in Gaza City. These strikes are among the deadliest since Israel resumed its offensive after a two-month ceasefire collapsed on March 18.
The Israeli military has announced plans for an expanded offensive, which has drawn international condemnation. UN agencies have warned of a humanitarian catastrophe in Gaza, which has been devastated by 19 months of war.
The health ministry in Hamas-run Gaza reported that at least 2,545 people have been killed since Israel resumed its campaign in March, bringing the war’s overall toll to more than 52,650.
UN experts have demanded action to avert the „annihilation“ of Palestinians in Gaza, urging the world to choose between remaining passive or working toward a just resolution.
World News Live Updates: North Korea fires flurry of short-range ballistic missiles
North Korea fired multiple types of short-range ballistic missiles early in the day, South Korea’s military said, around a week after leader Kim Jong Un tested a new weapons system for his latest warship. Seoul’s military said it had „detected the launch of various types of short-range ballistic missiles,“ the Joint Chiefs of Staff said. The missiles were „fired from the Wonsan area of North Korea into the East Sea between approximately 08:10 and 09:20 today (from 2310 GMT Wednesday),“ they added, referring to the body of water also known as the Sea of Japan.
India News Live Updates: India-UK FTA Marks Strategic Shift in Global Trade, bypasses China dependence, navigates US tariffs- SBI
SBI Research indicates that India’s Free Trade Agreement (FTA) with the United Kingdom is a strategic move to diversify trade partnerships, reduce reliance on China, and mitigate the impact of U.S. tariffs. The agreement is expected to eliminate tariffs on 90% of traded goods, benefiting businesses in both countries. This aligns with India’s broader strategy to strengthen economic ties with Western nations and reshape its trade landscape post-Brexit .
World News Live Update: Asian Stocks Rally Amid Hopes for US-China Trade De-escalation
Asian stock markets extended their gains on Thursday, fueled by optimism ahead of upcoming trade talks between the United States and China. The two countries are set to meet this weekend in Switzerland for their first high-level negotiations since President Trump’s recent tariff announcements. Investors are hopeful that these discussions will ease escalating trade tensions and potentially lead to a significant trade agreement. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will represent the U.S., while Chinese Vice Premier He Lifeng will lead the Chinese delegation.
World News Live Updates: Pro-Palestinian demonstrators clash with security guards at Columbia University
A pro-Palestinian protest at Columbia University’s Butler Library escalated into a confrontation with campus security. Masked demonstrators entered the library, displayed Palestinian flags, and defaced property with messages like „Columbia will burn.“ The university called in the NYPD, leading to the arrest of approximately 75 protesters. Two campus security officers were injured during the incident. The protest disrupted students preparing for final exams and drew criticism from university officials and public figure
World News Live Updates: OpenAI offers to help countries build AI systems
OpenAI on Wednesday announced an initiative to help countries build their own artificial intelligence (AI) infrastructures, with the US government a partner in projects.
The San Francisco tech firm’s move to put its technology at the heart of national AI platforms around the world comes as it faces competition from Chinese rival DeepSeek.
DeepSeek’s success in delivering powerful AI models at a lower cost has rattled Silicon Valley and multiplied calls for US big tech to protect its dominance of the emerging technology.
„It’s clear to everyone now that this kind of infrastructure is going to be the backbone of future economic growth and national development,“ OpenAI said in a blog post.
„This is a moment when we need to act to support countries around the world that would prefer to build on democratic AI rails, and provide a clear alternative to authoritarian versions of AI that would deploy it to consolidate power.“
India News Live Updates: Indian Embassy in Israel emphasises ‚zero tolerance‘ on terrorism
Following Operation Sindoor, precision strikes on terrorist camps in Pakistan in response to the Pahalgam terror attack in Jammu and Kashmir, the Indian Embassy in Israel underscored „zero tolerance on terrorism.“
The embassy highlighted the heavy toll terror attacks have taken on Indian civilians and security personnel, reiterating that both nations stand united in the fight against terrorism.
Sharing a post on X, the Indian Embassy in Israel said, „India stands for zero tolerance on terrorism. We have lost more than 350 innocent Indian civilians in cross-border terrorist attacks in the past decade. Over 600 security personnel have laid down their lives. India and Israel stand together in the fight against terrorism.“
The embassy posted a video on X, accompanied by the message, „While the world embraced a new millennium, India continued to be subjected to cross-border terrorism. More than 350 Indian civilians have succumbed to cross-border terrorism in the past decade, and 800 have been injured in these dastardly acts of violence. Over 600 security personnel have laid down their lives, and more than 1,400 have been injured while protecting the nation from this scourge of cross-border terrorism.“
World News Live Updates: UN experts warn of ‚annihilation‘ in Gaza amid Israeli strikes
UN experts demanded action on Wednesday to avert the „annihilation“ of Palestinians in Gaza, as rescuers said Israeli strikes across the territory killed dozens of people.
A planned expanded offensive revealed by the Israeli military has drawn international condemnation, after UN agencies previously warned of humanitarian catastrophe in the Palestinian territory already devastated by 19 months of war.
More than 20 independent United Nations experts said the world faced a „stark decision“ to „remain passive and witness the slaughter of innocents or take part in crafting a just resolution“.
The experts implored the international community to avert the „moral abyss we are descending into“.
Israel’s broader offensive, approved by the government amid a two-month aid blockade on Gaza, would include displacing „most“ of its residents, the military has said.
France’s President Emmanuel Macron on Wednesday called the situation in Gaza „the most critical we have ever seen“.
Spain’s Prime Minister Pedro Sanchez said Madrid would present a draft resolution at the UN General Assembly aimed at „proposing urgent measures to stop the killing of innocent civilians and ensure humanitarian aid“ in Gaza.
India News Live Updates: ‚Chief ministers, LGs congratulate armed forces for giving befitting reply to Paksiatan,‘ says Amit Shah
Union home minister Amit Shah on Wednesday chaired a meeting in the national capital with the Chief Ministers and Lieutenant Governors of border states adjoining Pakistan and Nepal.
In a post on X, the Union Home Minister said that all the Chief Ministers and Lieutenant Governors congratulated the armed forces for giving a „befitting reply“ to the perpetrators of the Pahalgam terror attack.
„Chaired a meeting with the Chief Ministers and Lieutenant Governors of border states adjoining Pakistan and Nepal. All the Chief Ministers and Lieutenant Governors congratulated PM Shri @narendramodi Ji and our armed forces for giving a befitting reply to the perpetrators of the Pahalgam terror attack through the historic success of Operation Sindoor,“ Shah said on X.
World News Live Updates: Vance says Russia was ‚asking for too much‘ in its initial Ukraine peace offer
Vice President JD Vance said Wednesday that Russia was “asking for too much” in its initial peace offer as the United States looks to bring about an end to the war in Ukraine.
The vice president, speaking at a Washington meeting hosted by the Munich Security Conference, did not elaborate on Moscow’s terms, but said he was not pessimistic about the possibility of a peace deal. That is a more sanguine assessment than President Donald Trump’s recent skepticism that Russian President Vladimir Putin wants to end the war that begin in February 2022 when Russia invaded.
“I wouldn’t say that the Russians are uninterested in bringing this thing to a resolution,” Vance said. “What I would say is right now: the Russians are asking for a certain set of requirements, a certain set of concessions in order to end the conflict. We think they’re asking for too much,” he said.
Vance did not repeat any of the criticisms of Volodymyr Zelenskyy that Vance had aired during an Oval Office blowup in February with the Ukrainian leader, and he made a point of saying the U.S. appreciated Ukraine’s willingness to have a 30-day ceasefire. But the Republican vice president, citing Russia’s unwillingness on that point, said the U.S. would like to move past that and have the Russian and Ukrainian leaders sit down directly to negotiate a long-term settlement that would end the fighting.
“What the Russians have said is, ‘A 30-day ceasefire is not in our strategic interests.’ So we’ve tried to move beyond the obsession with the 30-day ceasefire and more on the, what would a long-term settlement look like,” Vance said.
India News Live Updates: Hong Kong citizen held at Delhi airport for smuggling Rs 83 lakh luxury watch
A man from Hong Kong was arrested at the Indira Gandhi International (IGI) airport here for smuggling into the country a luxury watch worth Rs 83 lakh, the customs department said on Wednesday. The officials have also seized Rs 50 lakh recovered from a receiver of this watch. The accused passenger, aged 47, was intercepted after his arrival from Hong Kong on Sunday.
„The total market value of the watch was found to be approximately Rs. 83,00,000. The said passenger admitted that the foreign-origin watch was brought from Hong Kong to Delhi to avoid paying customs duty,“ the department said in a post on X.
During interrogation, the passenger admitted to previously smuggling four watches, with their total value found to be approximately Rs 2.5 crore, it said.
Further investigation led to the interception of two Indian receivers who admitted to having received smuggled watches worth approximately Rs 2.5 crore from the same passenger, the customs department said.
„Upon further probe, one Indian receiver/buyer of the smuggled watch was found in possession of Rs 50 lakhs in cash. The receiver/buyer admitted that the cash was brought as a partial payment for the smuggled watch.
„He further admitted to being in regular contact with the two receivers and confirmed his involvement in the purchase and handover of smuggled watches to his clients in India,“ it said.
