Newsflash

Ukraine war latest: 3 killed, 32 injured in Kyiv amid Russian drone attack on residential buildings

In the latest developments from the Ukraine war, a Russian drone attack on Kyiv overnight on October 26 resulted in the deaths of at least three people and injuries to 32 others, including seven children. The strikes targeted residential buildings, with multiple explosions reported around 2:35 a.m. local time. Ukrainian air defenses managed to down 90 of the 101 drones launched, including Shahed and Gerbera types. The attack comes amid a week of intense Russian strikes, with President Volodymyr Zelensky reporting over 50 missiles, nearly 1,200 drones, and over 1,360 guided bombs launched against Ukraine.

U.S. President Donald Trump has ruled out a meeting with Russian President Vladimir Putin unless there is clear progress toward a Ukraine peace agreement. Trump expressed frustration with the lack of interest from both sides in achieving peace. Meanwhile, the U.S. has imposed sanctions on Russia's largest oil companies, Rosneft and Lukoil, aiming to pressure Moscow into accepting a ceasefire.

Ukraine's military intelligence (HUR) reported an increase in sabotage activities across Russia, including arson and fires at electrical panels, railway relay cabinets, and communication towers. These incidents, while not independently verified, suggest growing resistance within Russia to its ongoing war efforts. Additionally, Ukrainian forces have retaken two villages in Donetsk Oblast near Dobropillia, further pushing back against Russian advances.

In a show of military prowess, Russia claimed to have tested its nuclear-powered Burevestnik cruise missile, which reportedly flew for 15 hours covering 14,000 kilometers. However, Western analysts remain skeptical about the missile's capabilities and its potential impact on global nuclear dynamics. Despite these developments, Russian forces continue their offensives across multiple sectors, with intense fighting reported in and around Pokrovsk. 🇺🇦💥

US in danger of losing the global trade war it started

The U.S., under President Donald Trump, has aggressively disrupted the global trading system, coercing allies and adversaries alike in a bid to bolster American economic dominance. However, recent actions by China have put the U.S. on the defensive. China's announcement of sweeping restrictions on rare earth exports has sent shockwaves through Washington and other Western capitals, highlighting the strategic importance of these elements in high-tech industries and defense.

China controls a significant portion of the global supply of rare earths, which are crucial for various technologies, including electric vehicles, wind turbines, and military equipment. Beijing's new rules could severely impact Western industries, particularly as Europe seeks to bolster its defense capabilities. The U.S. administration's alarm is justified, as China has long signaled its intent to leverage its dominance in rare earths, a strategy that has been evident since the early 1990s. Despite previous warnings, the West failed to address this growing dependency.

China's move comes in response to the U.S. expanding its "entity list," which subjects Chinese firms to export controls. This escalation follows a tit-for-tat tariff war earlier this year, where China's halt on rare-earth exports forced Western carmakers to pause production. The upcoming meeting between Trump and Chinese President Xi Jinping offers a potential avenue for negotiation, but the stakes are high. China's leverage in rare earths gives it significant bargaining power, and the West's efforts to secure alternative supplies will take years to materialize.

The U.S. and its allies face a challenging path forward, as a complete retreat by China seems unlikely. The dispute could further destabilize the global trading system, with both sides possessing powerful economic levers. The U.S. economy, already facing investor jitters and market volatility, may struggle to sustain additional trade tensions. The situation underscores the potential high cost of Trump's aggressive trade policies and the urgent need for strategic recalibration.

Russian Drone Attacks on Kyiv Kill 3, Injure Over 30 Including Kids

In his evening address to the nation, Ukrainian President Volodymyr Zelenskyj reported that Russia had launched nearly 1,200 drone attacks and fired 50 missiles of various types over the past week, with most missiles being ballistic. The capital, Kyiv, bore the brunt of these assaults, with significant damage to residential buildings. Mayor Vitali Klitschko reported that debris from a Russian drone struck a nine-story apartment building, causing several floors to catch fire, while another 16-story building sustained damage to at least one apartment. These attacks followed a wave of air strikes on Saturday night, which resulted in the deaths of at least four people and injuries to around 20 others in Kyiv. Zelenskyj emphasized the need for collective defense against such threats, stressing that no nation should face these challenges alone. 🏙️💥

Kurdish PKK militants announce withdrawal from Turkey as part of disarmament

The Kurdistan Workers' Party (PKK), a militant group designated as a terrorist organization by Turkey, the U.S., and the EU, has announced its withdrawal from Turkey as part of a disarmament process. This decision follows a call from jailed PKK leader Abdullah Ocalan to end the armed struggle, which has claimed over 40,000 lives since 1984. The PKK's withdrawal is seen as a significant step towards peace, with the group urging the Turkish government to take immediate legal and political actions to facilitate its transition into democratic politics.

The PKK's statement from northern Iraq emphasized its commitment to a "free, democratic, and brotherly life," urging Ankara to support this process through integration laws. Turkish officials, including AK Party spokesman Omer Celik, have acknowledged the PKK's withdrawal as a positive development, aligning with the government's "terror-free Turkey" goal. This move could reshape the political landscape in Turkey and the broader region, particularly in Syria, where the U.S. is allied with Syrian Kurdish forces that Turkey views as an extension of the PKK. The PKK's shift from seeking independence to advocating for greater Kurdish rights and autonomy in southeastern Turkey marks a pivotal moment in the ongoing conflict. 🕊️🇹🇷

At least 9 killed, 45 injured in Russian strikes across Ukraine over the past day

In the past 24 hours, Russian attacks across Ukraine have resulted in the deaths of at least nine civilians and injuries to 45 others, according to regional authorities. Ukrainian air defenses successfully intercepted 90 of the 101 drones launched by Russia overnight, including Shahed and Gerbera types. However, Kyiv was targeted for the second consecutive night, with at least three fatalities and 32 injuries, including seven children. The capital's three districts sustained damage, affecting multiple apartment buildings.

President Volodymyr Zelensky reported that Russia had launched over 50 missiles, nearly 1,200 strike drones, and more than 1,360 guided bombs against Ukraine this week, leading to significant power outages due to repeated strikes on the energy grid. In eastern Donetsk Oblast, four civilians were killed, and one was injured. In Kharkiv, one person died, and seven were injured, including two children. Southeastern Zaporizhzhia Oblast saw one fatality and one injury in the town of Huliaipole. In central-eastern Dnipropetrovsk Oblast, a 63-year-old woman was injured, and in southern Kherson Oblast, three people were wounded. The ongoing attacks underscore the persistent threat to civilian lives and infrastructure across Ukraine. 🇺🇦💥

Russia says it tested nuclear-powered Burevestnik cruise missile

Russia has successfully tested its advanced Burevestnik cruise missile, a nuclear-powered and nuclear-armed weapon, as announced by Chief of General Staff Valery Gerasimov during a televised meeting with President Vladimir Putin. The missile, described as a unique and unprecedented technological achievement by Putin, completed a multi-hour flight covering approximately 14,000 kilometers (8,700 miles) over 15 hours. This test occurred ahead of a summit between Putin and U.S. President Donald Trump, with extensive preparations observed at the Pankovo test site in the Arctic.

The Burevestnik missile is believed to be deployed near a nuclear warhead storage facility, Vologda-20 or Chebsara, located north of Moscow. Despite Russia's claims of success, Western analysts express skepticism due to the missile's troubled development history and potential design flaws. The Burevestnik has gained increased significance for the Kremlin following the U.S. announcement of plans to develop the Golden Dome missile defense shield. The missile's deployment and capabilities remain a subject of debate among international security experts. 🚀💥

Ukrainian drones target Moscow in overnight attack, mayor says

Dozens of drones targeted Moscow overnight on October 26-27, as reported by Mayor Sergey Sobyanin. Russian forces claimed to have shot down 34 drones heading towards the city, with emergency services dispatched to all crash sites. The drone attacks led to the temporary suspension of operations at Moscow's Domodedovo and Zhukovsky airports. Explosions were reported in various parts of the city and surrounding regions, including the Kommunarka district, but no casualties have been confirmed.

Additionally, a fire broke out at an oil depot in Serpukhov, Moscow Oblast, on the evening of October 26, though the cause remains undisclosed. Ukrainian authorities have not officially commented on the reported strikes, but Kyiv is known to use long-range drones to target military and industrial sites in Russia. This incident follows a previous drone attack on Moscow in September.

Meanwhile, Russia has been conducting large-scale missile and drone attacks on Ukrainian cities, resulting in civilian casualties and injuries. President Volodymyr Zelensky reported that Russia launched nearly 1,200 strike drones and 50 missiles against Ukraine in the past week alone. The ongoing conflict continues to escalate, with both sides engaging in strategic aerial assaults. 💥🛬️🇷🇺🇺🇦

Tusk warns against pressure to restore Nord Stream 2

Polish Prime Minister Donald Tusk has expressed concern over potential efforts to revive economic ties with Russia, particularly the contentious Nord Stream 2 gas pipeline, once the conflict in Ukraine concludes. As peace negotiations between Russia and Ukraine become a possibility, Tusk views calls from European politicians to rebuild relations with Moscow as a troubling sign. He interprets these discussions as indications that some European leaders may seek to reestablish lucrative business dealings with Russia, including energy trade. Tusk emphasizes that such moves would be alarming, underscoring the need for Europe to remain vigilant against renewed Russian influence. 🚨💸

Hundreds of Russian troops inside Pokrovsk, military reports

In the embattled city of Pokrovsk, Donetsk Oblast, approximately 200 Russian personnel have successfully infiltrated Ukrainian front lines, according to the General Staff of Ukraine's Armed Forces. This strategic location has seen intensified Russian offensive operations, with significant troop concentrations aimed at forcing Ukrainian withdrawal. The Russian forces, operating in small infantry groups, have engaged in fierce clashes with Ukrainian troops, utilizing small arms and drones. Ukrainian counter-sabotage efforts are currently hindering Russian advances, but the combat situation remains highly dynamic and intense. Ukrainian forces are implementing comprehensive measures to stabilize the area.

Previous Russian incursions into Pokrovsk, including a notable breach in July, have been repelled, but the ongoing attempts highlight the persistent threat. In October, disturbing footage surfaced showing Russian soldiers executing unarmed civilians near the city's central railway line. The 7th Corps of Ukraine's Air Assault Forces confirmed the Russian penetration to the railway, acknowledging the presence of a Russian sabotage and reconnaissance group. Despite these challenges, Russia has sustained heavy losses, with 1,756 personnel and 75 pieces of equipment destroyed in the past 10 days alone. The situation in Pokrovsk underscores the ongoing and brutal nature of the conflict in eastern Ukraine. 🇺🇦💥

Milei's Party Poised for Victory in Argentina's Midterm Election

Argentine President Javier Milei celebrated a significant victory in the midterm parliamentary elections, marking a pivotal moment in his reform agenda. Milei, known for his libertarian politics and promises to curb inflation, reduce state spending, and attract foreign investment, used the occasion to declare the beginning of a "great Argentina." His win strengthens his mandate for further reforms, with a chainsaw often symbolizing his commitment to drastic changes.

The election, which saw 36 million eligible voters, determined half of the Chamber of Deputies and a third of the Senate seats. The Peronists, a historically influential left-center populist force, appear to have secured around 32% of the votes. Milei's close ties with U.S. President Donald Trump have been instrumental in securing a $40 billion support package from the United States, contingent on continued voter support for Milei's policies. This financial backing aims to stabilize Argentina's weak currency and bolster the economy. 🇦🇷💸

Argentina's Midterm Election Tests President Milei's Controversial Reforms

On Sunday evening, Argentina concluded its parliamentary elections, with preliminary results expected to indicate the level of support for President Milei's controversial reform agenda. Despite a low voter turnout, the outcome will significantly impact the country's political and economic trajectory. Milei, who won the presidency in 2023 with promises to curb inflation, reduce state spending, and attract foreign investment, has seen mixed results. While inflation has decreased, the economy has struggled, leading to job losses and a weakened currency.

The election, which determines half of the Chamber of Deputies and a third of the Senate seats, could shift the balance of power, potentially hindering Milei's ability to implement his policies. Disillusioned voters are turning away from both Milei and the traditional opposition, seeking alternatives. The Peronists, a populist left-wing party, are gaining traction with promises to reverse Milei's reforms, but their economic policies are met with skepticism.

The election's outcome is crucial for Argentina's financial stability, as a setback for Milei could trigger economic turmoil. The country's future hinges on the voters' decisions, with significant implications for its economic recovery and political landscape. The results will also influence Argentina's relationship with the U.S., which has pledged a $40 billion support package contingent on Milei's continued backing. 🇦🇷🏛️

What’s that meowing on the rooftop?

In the realm of politics, particularly in contentious issues like territorial disputes, it is crucial to consider the motivations and intentions behind questions and proposals. Turkish Foreign Minister Hakan Fidan recently suggested a compromise on the territorial waters dispute, hinting at a potential agreement around 9 nautical miles. This proposal, however, faces significant hurdles in Greece, where the notion of extending territorial waters to 12 nautical miles is deeply ingrained and seen as an unassailable right.

The Greek political landscape is marked by a strong preference for maximalist demands, making compromise a contentious issue. Historically, Greek governments have avoided serious negotiations on this matter, opting instead to perpetuate the problem rather than seek a resolution. This approach has allowed politicians and commentators to build careers on the dispute, avoiding the potential backlash from a compromise. The idea of accepting a 9-mile territorial limit, as suggested by Fidan, would require significant political courage and a shift in public sentiment. It remains to be seen whether the current Greek government would have the resolve to pursue such a compromise or would opt to defer the issue, fearing public and political reactions. 🇹🇷🇬🇷🌊

PM: Ukraine seeing positive development

Finnish Prime Minister Petteri Orpo has highlighted signs of progress in the war in Ukraine, particularly noting a tougher stance from U.S. President Donald Trump and a stalled Russian advance on the front lines. Orpo also pointed out Ukraine's enhanced capability to strike targets within Russia and the significant impact of China's decision to limit Russian oil purchases due to U.S. sanctions. This move is crucial as China has been one of Russia's largest oil buyers.

Orpo, however, criticized the European Council for its inability to reach an agreement on utilizing frozen Russian assets to support Ukraine. He asserted that Europe has consistently fallen short in adequately addressing Ukraine's needs and stressed the importance of continued substantial financial aid. The prime minister expressed hope that the frozen Russian funds would eventually be directed towards assisting the war-torn nation. 🇺🇦💰

Border guard intercepts two at Finland's eastern frontier

The North Karelia Border Guard is investigating a suspected illegal border crossing near Ilomantsi, Finland's easternmost point. On Saturday evening, border guards detained two foreign nationals suspected of entering Finland from Russia on foot. A local hunter spotted the individuals on a road, provided them with a lift, and alerted emergency services. Border Guard officers intercepted the suspects approximately 20 kilometers from the border and apprehended them without incident. Both individuals have applied for asylum in Finland.

The incident has prompted the North Karelia Border Guard to launch a preliminary investigation and contact their Russian counterparts in the Suojärvi region. The Finnish-Russian border has been closed for nearly two years, with Finland gradually shutting down all checkpoints along the eastern border starting in October 2023. This closure was in response to suspicions that Russia was using migrants to exert pressure on Finnish authorities. The border remains closed indefinitely, with the Finnish government stating in April that the closure would continue "until further notice." 🇫🇮🇷🇺🚧

Simona Mohamsson: Liberals Ready for New Election Over Sweden Democrats

The Liberal Party of Sweden has taken a firm stance against supporting Ulf Kristersson of the Moderate Party as Prime Minister if the Sweden Democrats secure ministerial posts in a potential government. This decision was made by the Liberals' party board two weeks prior. The party leader, Mohamsson, has also indicated that the Liberals are prepared to vote with the Social Democrats (the "red" party) in the Riksdag if necessary, aiming to push for a new iteration of the Tidö Agreement. This agreement is seen by the Liberals as a means to continue policies that make Sweden richer, safer, and freer. Mohamsson has expressed readiness to drive this demand through multiple votes in the Riksdag, potentially leading to a new election, although she hopes for a resolution before that point.

The Sweden Democrats' leader, Jimmie Åkesson, has criticized the Liberals' position as "incomprehensible." Additionally, the Liberals have proposed a ban on profit interests in schools, advocating for the phasing out of limited companies as a form of operation in independent schools. Instead, they suggest that independent schools should operate as foundations or similar non-profit entities. This stance aligns with the red-green parties but not with the other Tidö Agreement parties. Mohamsson hopes that more parties within the conservative bloc will recognize the issues within the independent school system and support a change. 🏫📜

Left-winger Catherine Connolly wins Irish presidency

In a historic and unexpected victory, left-wing independent candidate Catherine Connolly has been elected as the President of Ireland. Connolly, a prominent social justice advocate and former member of the Irish parliament, secured the presidency with a significant margin, defeating more established political figures. Her campaign focused on issues such as social equality, climate action, and reforming the Irish political system. Connolly's win marks a shift in Irish politics, as she is the first openly left-wing president in the country's history. Her victory has been celebrated by progressive groups and activists across Europe, who see it as a sign of growing support for left-wing ideologies in the face of rising conservatism. Connolly's presidency is expected to bring a fresh perspective to Irish politics, with a strong emphasis on social justice and environmental sustainability. The election results also highlight the increasing disillusionment among Irish voters with traditional political parties, as Connolly's independent status resonated with many who seek change and reform. 🇮🇪🏛️

Washington eyes ‘very productive’ Trump-Xi meeting this week

Trade talks between the United States and China have laid the groundwork for a potentially productive meeting between U.S. President Donald Trump and Chinese President Xi Jinping later this week. Both nations are working to de-escalate their ongoing trade war, which intensified after Trump threatened new tariffs on Chinese goods in response to China's tightened export controls on rare earth magnets and minerals. U.S. Treasury Secretary Scott Bessent expressed optimism, stating that the discussions have established a framework for a mutually beneficial meeting. This diplomatic effort comes amid heightened tensions, with both sides seeking to stabilize their economic relationship and avoid further escalation. The outcome of the upcoming meeting could significantly impact global trade dynamics and geopolitical relations. 🌍💼

Australia Accuses Microsoft of Misleading Customers Over AI Tool Copilot

Microsoft is facing serious allegations of deceptive business practices related to its Microsoft 365 subscriptions. The company is accused of sending notices to approximately 2.7 million customers, informing them that they must either pay a significant premium (ranging from 29% to 45%) to retain their subscription with the new Copilot feature or cancel their subscription entirely. Only after customers initiated the cancellation process did a third option appear: the ability to keep their current subscription without access to Copilot. This tactic is alleged to have been deliberately employed to coerce customers into upgrading to Copilot-integrated subscriptions.

Gina Cass-Gottlieb, a representative from the regulatory agency, criticized Microsoft for withholding the option to maintain classic subscriptions until customers began the cancellation process. This strategy is seen as a manipulative attempt to increase the adoption of Copilot-integrated subscriptions. The lack of clear alternatives to the Microsoft 365 office package is cited as a reason why many consumers may be reluctant to cancel their subscriptions. Microsoft has yet to respond to these allegations. If found guilty, the company could face substantial fines in the multi-million range. 💼💸

The lurking risk of sentiment

The political opposition faces significant challenges in gaining traction, as none of the parties present convincing programs or leadership capable of addressing the country's pressing issues. While some opposition parties have garnered support from voters seeking to express anger and frustration with the system, the specter of past political missteps looms large. Citizens, particularly those who have experienced financial improvements, prioritize stability and are wary of repeating the mistakes of the past, such as the tumultuous period following the 2015 elections.

The current government must navigate a delicate balance, as a portion of the electorate is driven by a desire for stability and security, especially in the face of global geopolitical uncertainties and regional threats. To maintain the support of these voters, the government must demonstrate effective governance, tackle corruption, and avoid being swayed by sentiment or paranoia. Failure to do so could lead to a fragmentation of this critical voter base, with some drifting towards extremist parties. The government's ability to govern competently and decisively will be crucial in preventing a resurgence of politically motivated anger and ensuring the country's stability.

Experts: Estonian banks’ profits “quite strong,” set to improve next year

Estonian commercial banks are maintaining robust profitability despite the challenges posed by lower interest rates. According to the Bank of Estonia, the sector's financial health remains strong when compared to international benchmarks. Economist Taavi Raudsaar of the Bank of Estonia highlighted that the profitability of Estonian banks over the past few quarters has been consistent with long-term averages.

Looking ahead, the future performance of these banks will be significantly influenced by their ability to grow their loan portfolios. With the Euribor expected to stabilize at its current level, the impact of interest rate fluctuations on bank profits is diminishing. To bolster earnings, banks will need to focus on expanding their lending activities while also managing costs, potentially through reducing deposit rates. This strategic approach will be crucial for sustaining and enhancing profitability in the evolving financial landscape. 📈🏦