World

London: The British government unveiled sweeping reforms to the asylum system on Monday, declaring refugee status will no longer be permanent and pledging accelerated deportations for those entering illegally, in a direct bid to neutralise the electoral threat from Nigel Farage’s Reform UK party.Home Secretary Shabana Mahmood told Parliament that protection will be granted on a temporary basis, subject to regular review, ending the current practice of indefinite leave to remain after five years. Individuals arriving via unauthorised routes, such as small boats across the Channel, will face swift removal once their claims are refused, with significantly reduced appeal rights.Crucially, the government will legislate to reinterpret obligations under the European Convention on Human Rights in domestic law, insisting Article 8 (right to family life) and other provisions should not block removals where public interest demands otherwise. Officials claim this stops “abuse” by foreign criminals and failed asylum seekers who exploit human-rights arguments to remain.The package also includes tougher enforcement powers, expanded detention capacity, and new bilateral return agreements. Labour sources described the measures as the toughest since the failed Rwanda scheme, designed to slash net migration and reassure working-class voters tempted by Reform UK, which secured 14% in last year’s election. Critics immediately accused the government of undermining international commitments.

Beijing: China’s dominance in the global clean energy supply chain reached new heights as battery and battery energy storage system (BESS) exports soared 24% year-on-year in the first nine months of 2025, generating approximately $60 billion in revenue, according to fresh data from energy think tank Ember.Batteries have cemented their position as China’s most profitable clean-energy export since overtaking solar panels in mid-2022. The explosive growth comes despite escalating trade tensions, with the European Union imposing provisional tariffs of up to 37.6% on Chinese electric vehicles and launching probes into battery subsidies.Strong demand from Europe, Southeast Asia, and emerging markets for lithium-iron-phosphate (LFP) cells and large-scale energy storage systems drove the surge. Chinese manufacturers, led by CATL and BYD, now account for more than 70% of global battery production capacity and over 80% of BESS deployments worldwide.Analysts warn that continued export growth could trigger further protectionist measures, yet Beijing shows no signs of slowing investment. Domestic battery production capacity is projected to exceed 3 TWh by year-end, far surpassing global demand. Ember notes the $60 billion figure already rivals total 2024 solar module export revenue, underlining batteries as the new cornerstone of China’s green technology export strategy.

Paris, November 19, 2025 – In a landmark move to rebuild its air force, Ukrainian President Volodymyr Zelenskiy signed a letter of intent with French President Emmanuel Macron on Monday for the potential acquisition of up to 100 Dassault Rafale F4 fighter jets over the next decade, along with advanced air defense systems, drones, and munitions.The agreement, inked at Villacoublay military airbase near Paris in front of a Rafale jet, was hailed by Zelenskiy as “historic,” promising “one of the greatest air defenses in the world.” It includes eight next-generation SAMP/T systems, radars, air-to-air missiles, guided bombs, and joint drone production starting this year. Deliveries could begin within three years, with full Rafale rollout by 2035.The twin-engine Rafale, an “omnirole” aircraft capable of air superiority, deep strikes, reconnaissance, anti-ship missions, and even nuclear deterrence in French service, measures over 15 meters long with a Mach 1.8 top speed and 50,000-foot ceiling. Operational since 2004, it has seen combat in Afghanistan, Libya, Mali, Iraq, and Syria, with 533 firm orders globally, including major exports to India, Egypt, Qatar, Greece, Croatia, UAE, Indonesia, and Serbia.Shares in Dassault Aviation surged up to 8% following the announcement. The deal follows Ukraine’s recent receipt of F-16s and Mirages, plus a similar intent for Swedish Gripens, as Kyiv seeks a modern fleet to counter Russian aggression. Financing remains unclear but may involve EU funds and frozen Russian assets.

New Delhi/Hong Kong: In a bold and unprecedented move, Air India has urged the Indian government to diplomatically plead with Beijing for permission to fly through a highly sensitive Chinese military airspace in Xinjiang, revealing the crippling financial damage caused by Pakistan’s ongoing overflight ban.A confidential Air India document submitted to Indian authorities in late October, reviewed by Reuters, estimates the Pakistan airspace closure—imposed after April tensions—is costing the Tata-owned carrier a staggering $455 million annually in lost profit, pushing fuel costs up 29% and adding up to three hours on long-haul routes to North America and Europe.To survive, Air India wants emergency access to the restricted Hotan-Kashgar corridor and diversion rights to military-dominated airports in Xinjiang’s west, currently off-limits to all foreign carriers. The route sits inside the People’s Liberation Army’s Western Theater Command—the same unit tasked with any potential India conflict—and is surrounded by 20,000-ft peaks that pose severe decompression risks.Analysts call approval “highly doubtful” given recent Chinese airbase expansions at Hotan and Beijing’s iron grip on military airspace. Without the shortcut, Air India warns routes like Mumbai-San Francisco are “becoming unviable,” forcing technical stops and driving passengers to foreign rivals with shorter Pakistan-permitted paths.The airline, still reeling from June’s deadly Gujarat Dreamliner crash, has already axed Delhi-Washington flights and slashed 15% capacity on remaining U.S./Canada routes. Air India is also quietly seeking temporary government subsidies and relief from $725 million in pre-privatisation tax liabilities.Neither Air India, India’s aviation ministry, nor Chinese authorities have commented.

Islamabad: The United States’ chargé d’affaires in Pakistan, Natalie A. Baker, has urged Islamabad to protect its economic sovereignty by steering clear of problematic foreign debt arrangements. In comments made informally to the media at the President’s House, she emphasized that Pakistan must “cautiously guard its economic independence.” Baker called on the government to fully implement its planned privatization programme, and to adhere completely to the reform agenda set by the International Monetary Fund (IMF). She argued that such measures are critical to ensuring Pakistan’s long-term economic sustainability. Regarding Pakistan’s ties with China, Baker said Islamabad is “a free and sovereign country” that can cooperate with any nation — but warned that projects which risk becoming debt traps are a global concern. She added that Washington supports Pakistan’s economic stability and reiterated the importance of Pakistan’s sovereignty, calling its protection “extremely important to the US.”

Tensions between Pakistan and Afghanistan have intensified in recent weeks as border clashes, militant attacks, and stalled peace talks push relations between the two neighbours to one of their lowest points in years. The crisis escalated after a series of deadly incidents along the frontier, leaving dozens dead and hundreds injured. Pakistan has accused Afghanistan’s Taliban-led government of allowing the Tehrik-e-Taliban Pakistan (TTP) to use Afghan territory as a base for planning and launching attacks. Kabul, however, firmly denies the allegation, insisting it does not permit militant groups to operate from its soil. Pakistan has experienced a significant surge in TTP-led violence targeting both civilians and security forces. In response, Islamabad claims to have carried out strikes on suspected TTP hideouts inside Afghan territory — a move that has further strained the relationship. Efforts to defuse the situation have so far failed. Negotiations held in Doha and later in Istanbul ended without a breakthrough. Pakistani officials say they have no immediate plans for a fresh round of talks, though both countries had earlier agreed to honour a ceasefire framework. The border closure has also deepened economic pressure on Afghanistan, which relies heavily on Pakistan’s ports for trade access. Analysts say this dependence underscores Islamabad’s leverage, though it also complicates humanitarian and commercial flows across the region. At the heart of the dispute lies a historical fault line: the Durand Line. The colonial-era border drawn in 1893 has never been fully accepted by Afghanistan, fuelling decades of mistrust and periodic conflict. Experts also point to Pakistan’s past support for certain militant factions in Afghanistan — a strategy aimed at securing influence in Kabul — which they say has now backfired as the TTP grows more potent inside Pakistan. With diplomatic avenues stalled and border security deteriorating, observers warn that the conflict risks widening unless both sides return to negotiations and take concrete steps to control cross-border militancy.

TORONTO: Canada’s Barrick Gold Corp. is exploring a dramatic overhaul, with its board contemplating a breakup into two distinct companies—one anchored in stable North American operations and the other handling riskier assets in Africa and Asia—according to four sources close to the matter. This potential demerger could unwind key elements of the 2019 merger with Randgold Resources, jettisoning high-volatility holdings acquired under former CEO Mark Bristow.The strategy gained traction following interim CEO Mark Bristow’s recent pivot toward North American priorities, spotlighting the lucrative Nevada Gold Mines joint venture with Newmont Corp. and the promising Fourmile project, slated for test production in 2029. Sources indicate the split aims to unlock undervalued assets, shielding them from geopolitical headwinds that have plagued Barrick’s international portfolio. Investors, frustrated by the stock’s 52% five-year gain lagging peers like Agnico Eagle’s 142%, have long advocated for such a divide to capitalize on gold’s historic rally.Complicating the picture: Potential outright sales of African mines and Pakistan’s Reko Diq copper-gold project, once financing is locked in. In Mali, Barrick seeks to settle a bitter dispute with the military junta—triggering a $1 billion write-down and employee detentions—before offloading Loulo-Gounkoto, its former crown jewel. Other assets in the Democratic Republic of Congo, Tanzania, Papua New Guinea, and the Dominican Republic could follow suit.Barrick’s shares surged 3% on the Toronto Stock Exchange Friday, closing at C$25.45, buoyed by Jefferies’ ratings upgrade post-Hill’s comments. “There’s immense value in Nevada alone,” noted an anonymous investor, estimating it could rival top global gold firms if standalone. While Bristow dismissed speculation Monday, ongoing deliberations signal a shareholder-responsive era. As gold hovers near $2,700/oz, this restructuring could redefine Barrick’s 130% YTD surge, prioritizing resilience over sprawl in a volatile world.

In a relief for millions of cord-cutters, Walt Disney Co. and Alphabet Inc.’s YouTube TV announced a multi-year carriage agreement on November 14, 2025, swiftly restoring access to ESPN, ABC, Disney Channel, and other networks after a contentious 15-day blackout that disrupted NFL viewings and college football marathons. The impasse, sparked by expired licensing terms in late October, saw subscribers lose over 20 Disney channels, prompting a surge in customer service complaints and threats of cancellations.The new pact, details of which remain confidential, likely includes higher affiliate fees for Disney amid rising content costs, potentially hiking YouTube TV’s base plan from $82.99 monthly—though no immediate price bump was confirmed. Restoration began within hours, with full access expected by early next week. Industry analysts hail the resolution as a win for streaming stability, averting broader fallout in a market where live sports drive 40% of subscriptions. Disney, fresh off NBA rights deals, bolsters its linear TV revenue, while YouTube TV—boasting 8 million users—retains its edge over rivals like Hulu + Live TV.This deal underscores escalating tensions in media negotiations, as streamers demand value from premium sports amid ad revenue dips. For fans, it’s back to seamless Thursday Night Football; for execs, a blueprint for future pacts in a fragmented ecosystem.

McMillon is on right. Furner (left) has served as President and CEO of Walmart U.S. since 2019, overseeing the company’s largest operating segment and its more than 4,600 stores (Walmart) In a surprise announcement that marks the end of an era for the world’s largest retailer, Walmart Inc. revealed that CEO Doug McMillon will retire in February 2026 after more than a decade steering the company through seismic shifts in retail. McMillon, who ascended to the top role in 2014, has overseen Walmart’s pivot to e-commerce dominance, aggressive investments in automation, and expansions into healthcare and advertising—propelling annual revenues past $650 billion. The move comes amid robust growth, with Q3 2025 earnings showing a 5.3% sales bump, fueled by grocery strength and Walmart+ membership surges.Board members elected John Furner, the 52-year-old president and CEO of Walmart U.S., as McMillon’s successor, effective Feb. 1, 2026. Furner, a 30-year company veteran who began as a teenager stocking shelves, brings deep operational savvy from leading the $420 billion U.S. division. Analysts praise the internal promotion for ensuring continuity in Walmart’s low-price strategy while navigating AI-driven supply chains and tariff threats. McMillon will advise the board through 2027, easing the transition.Shares dipped 1.2% post-announcement, reflecting investor jitters over leadership change, but experts see stability ahead. As Furner inherits a resilient giant, questions swirl on accelerating digital innovation to counter Amazon’s grip. Walmart’s saga underscores retail’s evolution: from big-box behemoth to omnichannel powerhouse.

In a pivotal move signaling the end of an era, Apple Inc. has ramped up its succession planning for longtime CEO Tim Cook, with reports indicating he could step down as early as next year. According to the Financial Times, the tech giant is meticulously preparing for this leadership shift to ensure seamless continuity in its innovation-driven empire. Cook, who succeeded Steve Jobs in 2011, has overseen Apple’s transformation into a trillion-dollar behemoth, navigating challenges from supply chain disruptions to antitrust scrutiny.The company is unlikely to announce a successor before its critical Q1 earnings report in late January 2026, which will encompass holiday sales data—a period vital for assessing iPhone demand and services growth. Insiders highlight the board’s focus on internal candidates to preserve Apple’s culture of secrecy and excellence. This proactive approach comes amid broader industry pressures, including AI competition from rivals like Google and regulatory hurdles in the EU and US.As Apple eyes a post-Cook future, investors remain optimistic, with shares holding steady. The transition underscores the company’s maturity, but questions linger: Can the next leader match Cook’s supply-chain wizardry and diplomatic prowess? For now, Apple’s ecosystem—bolstered by Vision Pro and potential AI integrations—stands resilient, poised for whatever comes next.