News Gist .News

Elon Musk's net worth has significantly decreased as Tesla Inc. shares continue to decline, with his wealth dropping by $121.2 billion from its peak, although he remains the world's richest individual. The company's stock is down 35% this year, compounded by external pressures such as protests against Musk's influence on government and the broader economic concerns affecting the stock market. Despite these losses, Musk's wealth still surpasses that of the second-richest billionaire, Mark Zuckerberg, by over $100 billion.

Iran's U.N. mission has expressed a willingness to engage in negotiations with the U.S. to address fears regarding the militarization of its nuclear program, contingent upon the talks not seeking the dismantlement of its peaceful nuclear initiatives. Supreme Leader Ayatollah Ali Khamenei reaffirmed Iran's stance against negotiating under perceived U.S. pressure, highlighting ongoing tensions as the U.S. reinstates a "maximum pressure" campaign. The situation remains critical as the U.N. nuclear watchdog warns that time is running out for diplomatic efforts to impose new restrictions on Iran's nuclear activities.

Israel's Defence Ministry has announced that it will permit Syrian Druze workers to enter the Israeli-occupied Golan Heights, although the timeline for issuing permits remains unspecified. This decision comes in the context of the complex relationship between Israel and Syria, especially regarding the Druze community, which has connections across the border. The move may reflect Israel's ongoing commitment to protect minority groups in Syria amid shifting political dynamics and security concerns.

Despite a challenging start to March, Wall Street strategists maintain that the US stock market exhibits resilience even amid the turmoil caused by escalating tariffs and inflation concerns. The recent sell-off has led to significant declines in major indices, with the S&P 500 experiencing its worst week since September, yet many experts still see potential for recovery and growth. The sentiment among analysts suggests that current market chaos could be viewed as an opportunity for investors to capitalize on lower valuations.

Iraq's reliance on Iranian energy imports poses a significant challenge for its electricity supply, particularly as summer approaches and domestic consumption peaks. Energy officials have indicated that without urgent alternatives, the country will struggle to meet its power demands following the recent U.S. decision to rescind a waiver that permitted Iraq to pay Iran for electricity. The situation highlights the precariousness of Iraq's energy infrastructure and its vulnerability to geopolitical tensions.

The US government's meetings with Hamas on the release of hostages held in Gaza have yielded positive results, according to President Donald Trump's hostage envoy Adam Boehler. He expressed confidence that a deal could be reached within weeks, but did not provide further details. The negotiations demonstrate a shift in US approach towards engaging with Palestinian militant groups.

White House economic adviser Kevin Hassett expressed optimism that a dispute with Canada regarding the flow of fentanyl into the U.S. could be resolved by the end of March, potentially averting the reimposition of tariffs. While Hassett emphasized the administration's focus on combating drug smuggling rather than initiating a trade war, the actual contribution of Canada to this issue appears minimal. The complexity of the situation is compounded by the conflicting narratives surrounding economic policies and drug enforcement strategies.

U.S. President Donald Trump's stance on fentanyl-related tariffs remains unwavering despite growing concerns about their economic impact, with U.S. Commerce Secretary Howard Lutnick stating that the president will not relent unless progress is made in combating the opioid crisis. The tariffs, which target steel and aluminum imports from Mexico, Canada, and China, are set to take effect as scheduled on Wednesday. Lutnick's comments come amidst fears of a recession in the United States, but he insists that the tariffs will lead to lower prices for American consumers.

Poland is considering alternative internet service providers if Elon Musk's SpaceX proves unreliable, foreign minister Radoslaw Sikorski said. Starlink has been crucial for Ukraine's military and civilians amid the ongoing conflict with Russia. The Polish government pays $50 million annually for Ukraine's Starlink subscription, which it plans to maintain despite potential disruptions.

Elon Musk's week has been marred by multiple setbacks, including slumping European sales for Tesla and a failed test flight of SpaceX's Starship rocket. The electric vehicle market is becoming increasingly competitive, with Musk's company struggling to maintain its dominant position. The recent disaster has raised concerns about the safety and reliability of SpaceX's technology.

Merz seeks talks with France and UK on sharing nuclear weapons, but not as a substitute for US protection. Germany is bound to non-nuclear defence due to its Second World War past, but participates in NATO weapons-sharing arrangements. Merz plans coalition by Easter, crucially needing Green Party support to pass key financial measures.

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has warned that an attack on Iran's nuclear facilities would "entirely contaminate" the waters of the Gulf and threaten life in Qatar, the UAE, and Kuwait. The three desert states rely on desalinated water from the Gulf for their only supply of potable water, leaving them vulnerable to contamination. An attack on Iran's nuclear sites could have catastrophic consequences for the region, potentially killing millions and causing widespread devastation.

The visit represents a significant diplomatic effort by the U.S. government to address the ongoing conflict in Ukraine and promote regional stability through bilateral talks with key players like Saudi Arabia and Canada. U.S. Secretary of State Marco Rubio will engage with Ukrainian officials to discuss potential economic support, security cooperation, and humanitarian assistance. The meeting with Crown Prince Mohammed bin Salman is expected to focus on energy diplomacy and regional security issues.

European health ministers are urging the EU Commission to take steps to reduce the bloc's dependence on a small number of countries for vital drug supplies such as antibiotics and anaesthetics, in order to boost preparedness for future health crises. The critical vulnerability posed by this dependency could severely undermine Europe's security and defence capabilities. The proposed Critical Medicine Act (CMA) aims to address these concerns through measures such as domestic production and centralized stockpiling.

Mazloum Abdi, the commander of a Kurdish-led force in Syria, has accused Turkey-backed factions of being primarily behind the killings in communal violence along Syria's coastal areas. He has called on the country's interim president, Ahmed al-Sharaa, to hold the perpetrators accountable and reconsider the method of forming the new Syrian army. The situation has led to at least 200 deaths among security forces and over 1,000 casualties in the fighting.

Interim Syrian leader Ahmed Sharaa has called for national unity amidst escalating violence that has resulted in over 1,000 deaths, predominantly among civilians, in the coastal regions of Latakia and Tartous. The violence marks one of the deadliest episodes since the onset of the civil war, with pro-Assad insurgents targeting security forces and utilities, exacerbating the already dire humanitarian situation. Sharaa's plea for peace comes as his administration grapples with a growing insurgency and the legacy of a fragmented nation torn apart by years of conflict.

Russian special forces reportedly infiltrated a gas pipeline near Sudzha to launch a surprise attack on Ukrainian forces, intensifying military actions in the Kursk region. This tactic follows Ukraine's territorial gains in Kursk last August, which aimed to leverage their position in future negotiations with Russia. As battles escalate, concerns grow regarding the shifting dynamics of the conflict, particularly in light of U.S. policy changes affecting military support for Ukraine.

A U.S. drone strike killed an al Qaeda leader and four militants in a vehicle south of Yemen's capital Sanaa, according to a government official. The strike was part of efforts by Washington to shore up stability and security in the country, which is strategically located near key oil exporters and shipping lanes. The attack also highlights the ongoing threat posed by AQAP, one of the most dangerous arms of the global militant network.

Meetings between Hamas leaders and U.S. hostage negotiator Adam Boehler have focused on the release of an American-Israeli dual national being held by the militant group in Gaza, a senior Hamas official has confirmed. The discussions took place in the Qatari capital and covered the release of one of the dual-nationality prisoners, as well as the implementation of the phased agreement aimed at ending the Israel-Hamas war. Several meetings have already taken place, with Hamas having dealt "positively and flexibly" to serve the interests of the Palestinian people.

France will use interest from frozen Russian assets to fund another $211 million in arms for Ukraine, Armed Forces Minister Sebastien Lecornu said in a newspaper interview. The country plans to tap into these funds to purchase additional military equipment, including artillery shells and glide bombs, for its Mirage 2000 fighter jets. France is also expected to hand over some of its older armoured fighting vehicles to Ukraine.

The Trump administration has ended a waiver allowing Iraq to pay Iran for electricity as part of President Donald Trump's "maximum pressure" campaign against Tehran, a decision that ensures the U.S. does not allow Iran any degree of economic or financial relief. The move aims to end Iran's nuclear threat, curtail its ballistic missile program, and stop it from supporting terrorist groups. The waiver's expiration presents temporary operational challenges for Iraq, which is actively working on alternatives to sustain electricity supply.

Key players in the financial markets are expected to be influenced by economic indicators and central bank decisions, with a focus on inflation rates and interest rate hikes, potentially leading to volatility in currency markets. Investors are also watching corporate earnings reports from major companies, as well as updates on government policy and regulatory changes. The ongoing conflict in Ukraine is also having an impact on global energy prices.

Chung Kisun's visit to the US Naval Academy marks a significant strengthening of ties between South Korea and the United States in the maritime industry, as he emphasized the need for collaborative innovation and cooperation. The CEO has a long history of supporting military personnel and initiatives, demonstrating his commitment to national security and global stability. HD Hyundai's technological advancements in AI-based autonomous navigation and advanced digital vessels are poised to contribute significantly to these efforts.

Venezuelan President Nicolas Maduro announced that scheduled flights intended to repatriate migrants from the U.S. have been disrupted due to what he described as an "unexplained, tremendous commotion." This disruption follows the Trump administration's revocation of a license for Chevron to operate in Venezuela, which Maduro claimed has damaged communication between the two countries. The situation highlights the broader implications of U.S. sanctions and their impact on Venezuela's economy and migration issues.

In a message marking Commonwealth Day, King Charles emphasized that the differences among nations should be viewed as a source of strength rather than obstacles. He highlighted the Commonwealth's unique capacity to unite diverse nations, fostering friendship and support during uncertain times. This statement reflects the monarch's growing diplomatic role, reinforcing the importance of collaboration in the face of global challenges.

Israel has accepted an invitation from mediators to send a delegation to Qatar's Doha on Monday to advance ceasefire negotiations, following positive indicators from Hamas for the start of the second-phase talks. Hamas has reaffirmed its readiness to engage in the negotiations, calling for intensified efforts to aid the Gaza Strip and lift the blockade on its people. The fragile 42-day truce that began in January is set to expire soon, prompting concerns about a potential escalation of violence.

A delegation from Israel will be dispatched to Qatar's capital, Doha, to engage in ceasefire negotiations with Hamas, following an invitation from mediators. The move is seen as a key step towards ending the recent conflict between Israel and Hamas, although details of the talks remain unclear. The ceasefire has been in place since March 5, but tensions have persisted, leading to ongoing violence.

More than 400 residents affected by recent wildfires will receive free laptops and internet access as part of a major relief effort, marking a significant contribution from the tech industry to support those in need. Human-I-T, a nonprofit dedicated to closing the digital divide, has partnered with the City of Pasadena, Laserfiche, and other organizations to provide critical technology. The initiative aims to help affected residents stay connected, access essential resources, and begin rebuilding their lives.

The United Nations Commission on Human Rights in South Sudan has expressed grave concerns over the escalating violence and political tensions in the country, which threaten to undermine the fragile peace process. Increased arrests of officials allied to Vice President Riek Machar have raised fears about the stability of a 2018 peace deal that ended a devastating civil war. The situation is now witnessing an alarming regression that could erase years of hard-won progress.

Friedrich Merz's conservatives and the Social Democrats (SPD) have concluded preliminary discussions aimed at forming a coalition government, outlining a comprehensive 11-page position paper on key policy areas. The proposed measures include stricter border controls, a reformed welfare system, energy price reductions, and targeted economic growth strategies, alongside support for industries deemed strategic. The coalition's success hinges on legislative approval of significant financial measures, including a 500-billion-euro infrastructure fund, which faces opposition from various political factions.

Friedrich Merz's conservatives and the Social Democrats (SPD) have successfully concluded preliminary coalition talks, emphasizing a commitment to stricter measures on illegal migration and economic growth. Merz aims for Germany to achieve 1-2% growth after two years of contraction while increasing military spending and state borrowing to revive the economy. The next phase involves negotiations with the Green party, which will be crucial for passing proposed fiscal measures.

Myanmar's military government will hold a general election in December 2025 or January 2026, according to the junta chief, marking a significant milestone in the country's turbulent transition. The election promises to be a crucial test of the junta's legitimacy and ability to restore order in Myanmar, which has been plagued by turmoil since a military coup in early 2021. The announcement has raised hopes among opposition groups, who have long called for free and fair elections.

A recent missile and drone attack by Russian forces on Ukraine's eastern city of Dobropillia has resulted in at least 14 fatalities and 37 injuries, including five children. The assault, which involved ballistic missiles and multiple rockets, severely damaged several residential buildings and vehicles, prompting President Zelenskiy to emphasize the urgent need for enhanced air defenses and increased sanctions against Russia. This incident reflects the ongoing hostilities and the critical challenges Ukraine faces in maintaining its defense capabilities amidst fluctuating international support.

Iran's Supreme Leader Ayatollah Ali Khamenei has asserted that Tehran will not be coerced into negotiations, dismissing the US's offer as an attempt to "impose their own expectations". The US President Donald Trump had sent a letter to Iran's top authority proposing talks on nuclear deal, but Khamenei described it as an attempt at "bullying" and stated that Iran would not accept any new demands. This stance reflects Tehran's resolve to maintain its sovereignty in the face of external pressure.

The number of Britons who think Prime Minister Keir Starmer is doing a good job has risen as he steps up his role in diplomacy over the war in Ukraine, an opinion poll showed. The recent diplomatic efforts have boosted Starmer's image, but concerns about government spending and debt remain. A majority of respondents also support increasing defence spending, even if it means higher taxes or reduced funding for other public services.

The stock market has been taking a hit under President Trump's trade policies, with the S&P 500 losing 3.5% in early March due to his imposition of tariffs on Canadian and Mexican imports, only to see him backtrack on the move just days later. Investors are growing increasingly wary of Trump's economic plans, with research firm Capital Economics describing his tariff push as "a farce." The market's response suggests that investors are taking a beating from Trump's trade actions, and it remains to be seen whether he can regain their trust.

Oil prices suddenly broke out of a months-long slumber this week to touch a three-year low, prompting traders to reassess the trajectory of the crude market. The bearish sentiment is driven by a confluence of factors, including OPEC's surprise announcement to boost supplies, US President Donald Trump's trade tensions, and geopolitical risks cooling in Ukraine. Speculators are now wagering that the slide isn't over.

Lithuania's Coinvest Capital is leading the charge in defense technology investments, committing a significant portion of its GDP to military spending and supporting local startups in the sector. With a focus on innovation, the fund has invested approximately €6.8 million into defense and dual-use startups since its inception, emphasizing co-creation with business angels and other VCs. The urgency for defense investment stems from Lithuania's historical context of Soviet occupation, making the mission deeply personal for leaders like managing partner Viktorija Trimbel.

Despite sanctions, Russian electronics and computer hardware manufacturers expanded their workforce in 2024 by an average of 13%, reports Vedomosti. Engineers were the most sought-after professionals, which indicates that companies in the country are adapting to sanctions and developing various workaround ways to keep Russia's economy (and the war machine) going. Perhaps more importantly, Russia's Mikron, the leading chipmaker in the country, is hiring R&D personnel, which may lead to breakthroughs.

Ukrainian President Volodymyr Zelenskiy has reaffirmed Ukraine's commitment to engaging in a constructive dialogue with the U.S. over ways to end the war with Russia, despite recent tensions and paused military aid. The Ukrainian leader expressed hope for a meeting next week in Saudi Arabia, where he will discuss peace proposals with Crown Prince Mohammed Bin Salman and the U.S. team. Zelenskiy emphasized that Ukraine's priority is finding a peaceful resolution to the conflict, which has been ongoing since Russia's invasion three years ago.

A large-scale Russian offensive has been launched against Ukrainian forces in the Kursk region, with war bloggers and a senior Russian commander reporting significant gains for Russian troops. Ukraine's military positions have deteriorated sharply, with troops nearly surrounded by Russian forces. The situation remains precarious, following a pause in U.S. military aid and intelligence sharing as pressure builds on Kyiv to agree to a ceasefire with Moscow.

At least 11 people were killed and 30 wounded, including five children, in Russian missile and drone attacks on Ukraine's eastern city of Dobropillia overnight, the Ukrainian Interior Ministry said. The attack, which occurred without warning, was carried out by Russian forces using a combination of missiles and drones. The incident highlights the ongoing conflict between Russia and Ukraine.

Over the last two days, Syrian security forces and affiliated gunmen killed more than 340 civilians, the vast majority of them from the Alawite minority, according to Rami Abdulrahman of the Syrian Observatory for Human Rights. The incidents occurred during a government operation aimed at cracking down on militants linked to the ousted Assad regime. These reports contradict the claims made by the Syrian government, which stated that "individual violations" had taken place during the operation.

President Donald Trump's tariffs on imports of foreign goods are already in effect and more are likely to be imposed, forcing businesses to raise prices. The European Union is also facing tariffs, which will have a significant impact on global trade and consumer prices. Walmart and other retailers are learning from Amazon's playbook by launching their own marketplaces.

Telegram has been blocked in two Russian regions, Dagestan and Chechnya, due to concerns that the app could be used by enemies of the state. Authorities have registered an increase in militant Islamist activity in these regions, which they believe is linked to Telegram's use. The app's nearly 1 billion users are now subject to a block that has been implemented at the federal level.

The ongoing trade tensions between the US, Canada, and Mexico will undoubtedly add an extra layer of complexity to the 2026 World Cup. This increased tension could lead to higher stakes for participating teams and more unpredictable match outcomes. Furthermore, the tournament's expanded format may require greater flexibility and coordination among officials.

The Hungarian government has reached a deal with the United States to agree on an economic cooperation package that will help the Hungarian economy and potentially offset the impact of U.S. tariffs. The agreement is expected to provide compensation both in monetary and real economic terms to Hungary, helping the country mitigate losses caused by potential trade wars with the European Union. This move aims to strengthen bilateral relations between Hungary and the United States.

Gunmen and security forces linked to Syria's new Islamist rulers have killed more than 340 people, including women and children from the Alawite minority, in the country's coastal region since Thursday. The violence is seen as an attempt to expel the Alawite population from their homes by the former president Bashar al-Assad's government-backed fighters. This latest crackdown raises concerns about the ability of Syria's new Islamist rulers to govern inclusively.

The foreign ministers of France, Germany, Italy, and the UK have expressed support for an Arab-backed plan to reconstruct Gaza, which would cost $53 billion and prioritize Palestinian self-governance. The plan aims to create a more sustainable and realistic path for Gaza's reconstruction, promising swift and significant improvements in living conditions. However, Israel and the US have rejected the proposal, with the latter presenting its own vision for transforming the Gaza Strip into a "Middle East Riviera".

The Cybertruck design disaster has culminated in a desperate bid by Tesla to boost sales, with the company offering discounted financing and creative marketing tactics to shift its unroadworthy electric SUV. Despite initial predictions of 500,000 units per year, estimates suggest around 40,000 vehicles will be sold in 2024, leaving many to wonder if Tesla's gamble has been a costly mistake. As the sales figures continue to plummet, it is clear that Elon Musk's personal transformation and controversies have not helped salvage the Cybertruck's reputation.