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BANGKOK (AP) — African economies have managed to weather the energy crisis  brought on by the Iran war,  but a decline in aid has left the continent vulnerable to future shocks, the head of the International Monetary Fund’s Africa department said Thursday. The IMF forecasts growth in Africa at 4.5% this year, slightly higher than its earlier estimate, recovering to 5% in 2027. But development assistance for the continent fell sharply last year and is forecast to fall another 12% this year, Zeine Zeidane said at a meeting of the IMF and World Bank in Bangkok. “That leaves the region with little room to absorb another shock. Renewed disruption to energy supplies, a sharp increase in global risk aversion, or a strong El Nino could all intensify pressures,” he told reporters. Persisting conflict and insecurity are other drags on the regional economy, posing a threat to food security in some regions. “Overall risks remain firmly tilted to the downside and the chall...

The International Monetary Fund (IMF) has a responsibility to help poorer nations struggling with rising debt, high inflation and price shocks caused by war spillovers, the head of the global lender says. Speaking as the IMF’s annual meetings in Bangkok wrapped up on Saturday, Managing Director Kristalina Georgieva said discussions with global policymakers showed both “optimism and worry”. "Optimism    from the resilience of the global economy, the promise of AI, the dynamism of Asia,” Georgieva told reporters. “But AI is also recognised to be a source of worry and so are inflation, high levels of debt, wars, climate risks.” Georgieva said vulnerable nations are missing out on the AI investment boom that is driving growth in richer countries while at the same time dealing with higher borrowing costs. Higher global interest rates mean low-income countries now spend 8 to 14 percent of their revenue on debt repayments, up from previous years, she said. "I  can te...

Oct 16 (Reuters) - The US budget deficit rose by $217 billion to nearly $2 trillion in the ‌2026 fiscal year, fueled in part by tariff refunds and record spending to service the nation's more than $40 trillion in debt, marking the largest budget shortfall in five years, Treasury Department figures showed on Friday. Continued increases in ​spending for social benefits programs like Social Security and Medicare and a $48 billion jump ​in defense spending also factored into the increase. The $1.99 trillion deficit for the year ⁠ended September 30, the first full budget year of President Donald Trump's second term, was up from $1.78 ​trillion in fiscal 2025. It was the largest shortfall since fiscal 2021's $2.77 trillion budget gap, then ​fueled by COVID-19 pandemic relief spending, and is the third-largest annual deficit ever. Total receipts for fiscal 2026 were a record $5.40 trillion, up $169 billion, or 3%, from the $5.24 trillion in fiscal 2025. Fiscal 2026 out...

Bayern Munich and agent Pini Zahavi have a long history together, and it has not always been rosy. Now the next round of negotiations is approaching. Zahavi recently began representing highly rated prospect Maycon Cardozo, who was seen as a potential backup for Luis Diaz in the summer. Then a serious shoulder injury sidelined the 17-year-old. In early September, Cardozo broke his shoulder while playing for the reserves in a Regionalliga match against Illertissen. He has been working towards his comeback ever since. According to Sky , talks with Zahavi over a professional contract are also expected to take place soon. Cardozo is the son of former Brazilian professional footballer Douglas. His family moved to Thailand when he was two, and he learned to play football there. He arrived in Munich through Bayern Munich's so-called World Squad in early 2025, initially playing for the U17s and U19s. Vincent Kompany gives Cardozo his Bayern Munich debut During the second half of...

Former gang boss Duane "Keffe D" Davis has been sentenced to at least 40 years in prison for orchestrating the murder of Tupac Shakur. A jury found Davis, 63, guilty in September of one count of murder with a deadly weapon for the rap superstar's death in a drive-by shooting in Las Vegas on 7 September 1996. He has said he will appeal the verdict. Prosecutors argued that although Davis did not fire the gun himself, he was the ringleader of the group that committed the murder. He admitted in his memoir that he had provided the gun used in the crime. Davis' conviction was the first in a cold case that has intrigued hip-hop fans for nearly 30 years. Prosecutor Marc DiGiacomo argued during Tuesday's sentencing hearing that Davis spent years "publicly grandstanding" and bragging about his role on Shakur's death, which he said, "had wide-ranging effects upon the world". Shakur's sister, Sekyiwa Shakur, told the court: "The lo...

Britain’s Prime Minister Andy Burnham has said that a suspected plot targeting Royal Air Force (RAF) base Fairford was “almost certainly” directed by Iran’s Islamic Revolutionary Guard Corps (IRGC), raising the diplomatic stakes over the largely unexplained incident for which Tehran has denied any responsibility. “We will not tolerate these threats on our soil,” Burnham told parliament on Monday, adding that the government, “will crack down on Iran’s use of criminal networks, using our full range of powers to target them and their funding streams”. “We will bring further sanctions to restrict the capacity of Iran and the IRGC to do us harm”, he said. The incident near the airbase in southern England occurred in the early hours of September 27 when  five British men  in their 20s were arrested on suspected “terrorism” and explosives offences. Police said they found a supply of petrol in three vans linked to the suspects, but no explosives. They  were later rele...

WASHINGTON, Oct 12 (Reuters) - President Donald Trump on Monday defended a diesel oil deal  he made with Russia as lawmakers from both parties complained the agreement appears to ​violate US law barring imports of Russian energy until Moscow ends its ‌aggression against Ukraine. Trump said he is taking steps to bring down high fuel prices, which are jeopardizing Republican chances in the November 3 midterm elections.  Prices have shot up since he launched ​a war against Iran  seven months ago but he blames Ukraine's attacks on Russian ​oil refineries as a leading factor. "I made the right choice for ⁠the American People — ALWAYS, AMERICA FIRST! President DONALD J. TRUMP," Trump said in a ​social media post. Trump said on Friday that Russia had agreed to supply diesel to ​global markets, and his administration temporarily lifted US sanctions on Russian fuel designed to deprive Moscow of revenue for its war on Ukraine.   On Sunday a group of Repub...

UK Prime Minister Andy Burnham has pledged to push for closer relations with the European Union, confirming he will attend a bilateral summit in Brussels next month. Addressing parliament on Monday, Burnham  said parts of the trade deal agreed with the EU after the UK voted to leave in 2016 would be renegotiated. Burnham said that the British public would be “the boss” at every stage of renegotiating Britain’s relationship with the EU and that he wanted “serious dialogue” about long-term ties. He told members of parliament that his focus at the summit would be  boosting growth  in the economy and controlling illegal immigration. Among the topics of discussion at November’s summit are cutting bureaucracy for British food exports and emissions trading, as well as a “new youth experience scheme” and deeper cooperation on immigration. The prime minister, who came into office in July, said the agreements could reverse some of the “damage” done to the post-Brexit Br...

Prime Minister Andy Burnham has said he will release details of his meetings with senior figures at Manchester City following criticism of his comments in the wake of the club being found guilty of all charges related to breaches of the Premier League's financial rules. An independent commission found  City had broken rules  over a nine-year period between 2009 and 2018 by creating "sham" contracts with commercial partners to secretly funnel more than £830m into their football operations. Burnham's previous role as mayor of Greater Manchester has led to questions about his relationship with City's Abu Dhabi ownership, with Conservative leader Kemi Badenoch demanding No 10 release all details of meetings between the prime minister and senior figures at the club. "I've been asked by the leader of the opposition to publish details of my meetings, which I'm happy to do and I'm going to," Burnham told the Rest is Politics podcast. ...

US President Donald Trump has said he thinks "it's time for Ukraine to get a new president" as he responded to Volodymyr Zelensky's criticism of the US diesel deal with Russia. The Ukrainian president warned a new deal to release millions of tonnes of Russian diesel into the US would provide Moscow with money to continue its war against his nation, calling it a gift to Russian President Vladimir Putin. Trump told reporters outside the White House on Saturday that Zelensky "wants to make problems for the world" by continuing to authorise attacks on Russian refineries. "He'd better damn well stop," Trump said, before suggesting Ukraine should "get a new leader who can make a deal". Since Russia invaded Ukraine in 2022 the country has been under martial law, meaning elections are suspended. Global fuel supplies, including diesel, have been severely limited by the war against Iran launched by the US and Israel, which led to th...

Any doubts about the commitment of Manchester City's players, amid the English club's conviction for financial breaches in the Premier League? The team's star, Erling Haaland, was among the first to speak out. Spanish newspaper AS  published Haaland's comments during an interview with the club's official media, ahead of the Sky Blues' trip to face Liverpool at Anfield. Without touching on the independent commission's decision to convict Manchester City, the Norwegian spoke instead about how attached he is to the club. "This place matters a lot to me, and the United Kingdom in general," the striker said. "My family has lived here for 10 years. It's a special place for us." He added: "Manchester City matters a lot to me, and so do the fans. I'm a supporter of the club myself and I feel I belong to them." "We have to stay united, support each other and be positive," he stressed. "Whate...