U.S. Fed announces 1st interest rate hike in over 3 years
The U.S. Federal Reserve on Wednesday raised its target federal funds rate by 25 basis points to a range of 3.75 percent to 4 percent to address persistent inflation, marking its first interest rate hike since July 2023.
"Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little," said the Federal Open Market Committee (FOMC) in a statement.
Mudslide death toll rises to 1,403 in Nepal, 6,150 still missing
The death toll from the devastating mudslide in Nepal has reached 1,403, while 6,150 people remain missing, the National Disaster Risk Reduction and Management Authority said on Wednesday.
Four bodies and a body part were recovered from a tunnel of the Chilime Hydropower Project in Rasuwa district on Wednesday, as search and rescue operations continued.
According to the authority's latest report, 13,742 people have been rescued so far. A total of 2,096 people are currently taking shelter at 29 holding centers in Rasuwa, Nuwakot and Dhading districts.
21 killed in war-damaged building collapse in Gaza
The death toll from the collapse of a residential building in western Gaza City rose to 21, including 11 children and six women, with more than 25 injured, local officials and residents said Wednesday.
The six-story Al-Saada building, previously damaged by Israeli bombardment, collapsed in the early hours of Wednesday near the headquarters of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), according to civil defense spokesperson Mahmoud Basal.
Von der Leyen proposes opening EU door to Canada as first associate member
European Commission President Ursula von der Leyen on Wednesday proposed opening the door for Canada to become the first "associate member" of the European Union (EU), as she unveiled plans for closer security cooperation, tighter migration controls and stricter bans on children's social media use.
In her annual State of the Union address to the European Parliament in Strasbourg, von der Leyen said the EU and Canada would seek to upgrade their ties from the Comprehensive Economic and Trade Agreement (CETA) to an "Alliance for the Future," covering manufacturing, technology, defense, the Arctic, energy, critical minerals and artificial intelligence (AI).
Venezuela, Britain upgrade diplomatic ties
Venezuela and Britain have agreed to upgrade their diplomatic relations, Venezuela's Foreign Ministry said Tuesday.
"Following talks between authorities of both countries, it has been agreed to raise the level of bilateral relations with the Government of the United Kingdom of Great Britain and Northern Ireland," said a statement released by Venezuelan Foreign Minister Felix Plasencia.
British Parliamentary Under-Secretary of State for the Americas, Multilateral and Human Rights Chris Elmore also announced in a statement to Parliament on Tuesday that "the Government has decided to upgrade its diplomatic relations with Venezuela" and "the UK and Venezuela have agreed (on) our intention to upgrade our representation to Ambassador."
Israel, Morocco agree to upgrade diplomatic missions to embassies
Israel and Morocco agreed to upgrade their diplomatic missions to full embassies and appoint ambassadors as part of measures to deepen ties, Israel's foreign ministry said on Wednesday following a trilateral meeting in New York with U.S. officials.
Israeli Foreign Minister Gideon Sa'ar and Moroccan Foreign Minister Nasser Bourita also agreed to conclude investment protection and double-taxation agreements by the end of 2026 and expand direct flights to include Moroccan airlines, the Israeli ministry said in a statement.
ICC rules former Philippine President Duterte to remain in detention
The International Criminal Court (ICC) on Wednesday ruled that former Philippine President Rodrigo Duterte should remain in detention, finding no material change in circumstances that would warrant his release.
Trial Chamber III of the ICC, presided over by Judge Joanna Korner, issued the statement in its second decision on the review of Duterte's detention.
According to the ICC, Duterte's counsel raised the issue of his fitness to stand trial on May 25, 2026, and requested that he undergo a medical examination to assess his fitness. A panel of three court-appointed medical experts later submitted reports on the issue.
3 dead in helicopter crash in Los Angeles
A helicopter crashed between two commercial buildings in suburban Los Angeles on Tuesday night, killing at least three people, local authorities said.
Four people were assessed, with three pronounced dead at the scene, while another was taken to a local hospital in an unknown condition, the Los Angeles Fire Department (LAFD) said.
The crash occurred at around 7 p.m. local time (0200 GMT Wednesday) in the Chatsworth neighborhood, about 40 km northwest of downtown Los Angeles, near the site of an earlier deadly bus collision to which emergency crews had been responding.
Philippine vessel fire death toll rises to 77
The death toll from the vessel fire on Sept. 9 off the waters of the tourist hotspot Palawan Province of the Philippines rose to 77, with eight still missing and 43 survivors, said the Philippine Coast Guard (PCG) on Wednesday.
The PCG explained that the revised casualty figures stem from a crew member who initially survived the incident and later died in hospital. Meanwhile, four passengers listed on the ticket manifest did not board the vessel prior to its departure.
Footage released by the PCG shows the passenger ferry heavily charred, with ashes and burnt metal visible at the scene.■
