“We are looking for a reliable framework — from which we can keep building our common trade,” European Commission President Ursula von der Leyen told the European Parliament during a plenary session in Strasbourg, France.
While reaffirming the EU’s adherence to its principles and readiness for “all scenarios,” von der Leyen said the 27-nation bloc favored a negotiated settlement.
A Commission spokesperson echoed von der Leyen’s remarks, adding that an agreement in principle could be reached “in the coming days.”
“We’re working hard to get an agreement in principle with the U.S., and that is where our focus is at this point,” the spokesperson said.
U.S. President Donald Trump said on Tuesday that he would “probably” send a letter to the EU within two days, adding: “A letter means a deal.”
“They treated us very badly until recently, and now they’re treating us very nicely. It’s like a different world, actually,” he said.
Trump also escalated trade tensions by threatening tariffs of up to 200 percent on foreign pharmaceuticals and 50 percent on copper. According to EU data, medical and pharmaceutical products, as well as medicaments have been among the bloc’s top exports to the United States over the past two years.
EU trade chief Maros Sefcovic told lawmakers that Brussels and Washington had made “good progress” on the text of a joint statement or agreement in principle.
“I hope to reach a satisfactory conclusion, potentially even in the coming days,” Sefcovic said. However, he emphasized that EU legislation and regulatory autonomy remain “red lines” and are “non-negotiable” in the talks.
Bernd Lange, chair of the European Parliament’s trade committee, said the EU continues to face “illegal and unjustified” U.S. tariffs, referring to the 50 percent duties on steel and aluminum, and the 25 percent on cars and auto parts.
“Of course, we are not really accepting this,” Lange told reporters in Strasbourg, adding that two key issues remain unresolved: Washington has yet to commit to significantly cutting existing tariffs or refraining from new ones.
Lange warned that the EU is prepared to retaliate, with a first package of countermeasures set to take effect on July 14 if no agreement is reached.
Regarding Trump’s letter, Lange said the EU had not received any correspondence so far and had “no clue” about its contents.
Shares of the California-based firm rose 2.5% in early trading on Wednesday morning, briefly pushing its stock price above $164 and securing its place at the top of global equity markets.
The milestone comes just over a year after Nvidia first breached the $1 trillion mark in May 2023 and highlights its meteoric rise amid the artificial intelligence boom.
Nvidia’s valuation has surged eightfold since 2021, when it was valued at just $500 billion. The company crossed the $2 trillion threshold in February 2024 and hit $3 trillion in June before this week’s record-breaking leap. It now carries the most weight on the S&P 500, with its performance acting as a bellwether for global tech stocks.
Founded in 1993 and long known for its graphics processing units (GPUs) popular among gamers, Nvidia has become the dominant force behind the AI revolution. Its high-powered chips are essential to the data centres powering large language models, cloud computing, and generative AI platforms operated by tech giants including Microsoft, Amazon, Meta, and Alphabet.
In its most recent earnings report, Nvidia posted a 69% year-over-year revenue increase to $44.1 billion, with profits soaring to $18.8 billion despite challenges from tariffs and export restrictions. The company is set to report second-quarter results next month, with analysts predicting another record-setting quarter.
Nvidia’s rapid ascent reflects a broader shift in investor priorities, with artificial intelligence now seen as the most transformative economic force of the decade. According to IDC, global spending on AI infrastructure is projected to exceed $200 billion by 2028.
CEO Jensen Huang has become one of the world’s richest individuals, with Bloomberg pegging his net worth at $140 billion. Huang has also gained political visibility, recently joining President Donald Trump on a high-profile trip to Saudi Arabia to promote Project Stargate, a $500 billion AI infrastructure initiative backed by Nvidia.
Despite its dominance, Nvidia faces competition and geopolitical challenges. Chinese startup DeepSeek rattled markets earlier this year with a rival AI model that raised questions about the long-term need for expensive hardware. The U.S. government’s export restrictions on Nvidia’s H20 chips to China have also weighed on performance, costing the company an estimated $2.5 billion in revenue last quarter.
Nevertheless, the company has rebounded strongly—its stock is up nearly 74% since April—thanks to robust demand and continued AI adoption across industries.
According to the World Health Organisation, adults need at least seven hours of quality sleep each night to function optimally, but millions fall short of this goal, leading to fatigue, poor concentration, and a weakened immune system.
A few simple nighttime habits can significantly improve the way we sleep, helping us wake up feeling refreshed and rejuvenated each morning. Here are a few to consider:
{{1. Create a consistent bedtime routine
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Creating a consistent bedtime routine is one of the most effective steps toward better sleep. Going to bed and waking up at the same time each day, even on weekends, helps regulate the body’s internal clock, making it easier to fall asleep and wake up naturally.
“Going to bed or waking up at the same time every day of the week helps your ability to fall asleep when you want to. Also, a regular schedule helps to sync your circadian rhythm, which dictates when you feel sleepy or awake,” the National Sleep Foundation advises.
{{2. Limit screen time before bed
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Limiting screen time before bed is another crucial habit. The blue light emitted by phones, tablets, and computers interferes with the production of melatonin, the hormone that signals to your body that it’s time to sleep. Experts recommend putting devices away at least 30 to 60 minutes before bedtime and opting for relaxing activities such as reading, gentle stretching, or listening to calming music instead.
{{3. Optimise your sleep environment
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The sleep environment itself plays a significant role in sleep quality. A cool, quiet, and dark bedroom helps signal to the body that it’s time to rest. Investing in comfortable bedding and minimising noise and light can create an atmosphere that promotes deeper, more restorative sleep. Even simple steps like using blackout curtains or a white noise machine can make a significant difference.
{{4. Watch what you eat and drink
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Another often-overlooked factor is food and drink. Heavy meals late in the evening can disrupt sleep, as can stimulants like caffeine and nicotine. The National Institutes of Health advises finishing dinner at least two to three hours before bedtime and avoiding caffeinated beverages in the late afternoon and evening.
{{5. Manage stress before bed
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Equally important is managing stress, which can be a significant barrier to restful sleep. Daily stressors often follow people into the night, making it hard to fall or stay asleep. Relaxation techniques such as deep breathing, meditation, or writing in a journal can help calm the mind and prepare the body for rest.
{{6. Stay physically active during the day
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Physical activity during the day also contributes to better sleep. People who engage in regular exercise tend to fall asleep faster and enjoy deeper sleep cycles. However, vigorous workouts too close to bedtime may leave the body feeling too energised to rest, so it’s best to schedule intense exercise earlier in the day.
Over the past ten years, the firm has generated more than $16 million in revenue, including about $4 million from international service delivery, according to the company’s Managing Director, Habineza Emmanuel.
Habiza disclosed this during the anniversary celebration held on Monday, July 7, 2025.
“We started with very few employees, but now, if we count everyone who has worked with us, it’s over 500 people. We’ve also made significant revenue, with nearly $4 million coming from services offered abroad,” he said.
Sandeep Khapre, CEO of BDO East Africa, recalled that when they launched operations in Rwanda, there was a shortage of professional financial auditors. The firm was determined to employ Rwandans rather than bringing in foreign professionals.
He added that they decided to invest in training local auditors to build a capable workforce.
“At the time, many firms in Rwanda relied on foreign professionals for these services. We made a deliberate decision to train and employ Rwandans — and even have them lead the firm. That’s how we identified leaders like Emmanuel and others who now run the company,” he remarked.
Trond Morten, Chief Strategy and Operations Officer at BDO Global, highlighted the firm’s mission to support Africa in achieving financial and economic progress and to assist both private and public institutions in meeting their goals.
“We serve more than a million clients worldwide, but our main priority is helping them achieve their goals, guiding them on how to grow, how to improve governance in their operations.”
Jean Claude Uwizeyemungu, CEO of Mahwi Grain Millers, who has worked with BDO East Africa (Rwanda) Ltd for the past eight years, praised the firm as a trusted advisor. He credited BDO with helping his company access financial and capital markets.
“Recently, we reached a major milestone by listing our company on the financial and capital markets, and we owe that to BDO. It’s been a long journey, and they helped us secure sufficient financing to pursue our vision,” Uwizeyemungu said.
BDO East Africa (Rwanda) Ltd began operations in Rwanda in 2015 with just three employees. Today, it boasts over 100 full-time staff offering services in financial auditing, economic advisory, development consulting, taxation, technology, and business risk management.
At the monument square honoring the martyrs of the Hundred-Regiment Campaign during the war against Japanese aggression, Xi laid a floral basket to pay tribute to the martyrs, and then visited the memorial hall commemorating this major campaign.
During the visit, Xi reviewed the history of the CPC leading both the military and civilians in the courageous fight against Japanese invaders, and learned about local efforts to carry out revolutionary history education and promote the great spirit of resisting aggression.
The update was shared on July 8, 2025, when the Minister of Finance and Economic Planning, Yusuf Murangwa addressed the Lower House of Parliament.
He noted that by August 2024, all 416 Umurenge Umurenge Savings and Credit Cooperatives (SACCOs) had been digitized, and those in the districts of Nyarugenge, Gasabo, Kicukiro, Gicumbi, Rubavu, Rwamagana, and Nyamagabe had already been consolidated at the district level.
The ongoing integration of SACCOs is expected to eventually give rise to the Cooperative Bank, which will allow members to access their funds from anywhere and qualify for larger loans than those available through SACCOs operating at the sector level.
“We plan to complete the integration of SACCOs in all districts within this fiscal year [2025/26]. We have already merged SACCOs in seven districts; 23 remain. We are confident that by the end of this fiscal year, all remaining districts will have been integrated, and once that’s done, we will launch the Cooperative Bank,” he said.
Murangwa explained that the establishment of the Cooperative Bank will run in parallel with the district-level SACCO consolidation.
“We don’t want to wait until all districts are merged to begin preparing for the Cooperative Bank. We’re pursuing both processes simultaneously so that by the time SACCO integration is complete, the Cooperative Bank will be ready to launch as well,” he noted.
“The timeline for merging SACCOs at the district level and setting up the Cooperative Bank is the same. If everything proceeds smoothly, both processes will be completed within this fiscal year,” Murangwa added.
Currently, members can withdraw their money from any location within their district, in areas where SACCOs have been merged at the district level.
As part of the process to establish the Cooperative Bank, district-level SACCOs are being integrated into a system overseen by the National Bank of Rwanda.
“These district-level SACCOs will be incorporated into a system called RIPPS, which will streamline payments and enable SACCO members to access their funds from anywhere in the country,” the minister noted.
Umurenge SACCOs were first established in 2008 to help residents across various parts of the country save money and access low-interest loans as a means of improving their livelihoods.
By January 2025, M23 fighters led by Maj Gen Sultani Makenga captured Goma, a city of over two million people, marking a critical blow to the Congolese military. The following month, they advanced into South Kivu, taking Bukavu and several other areas. These rapid gains exposed the vulnerabilities of the Congolese army and its allies, including Burundian forces and the Wazalendo militia.
Corneille Nangaa, leader of the AFC coalition, claims M23 now controls over 34,000 square kilometres across North and South Kivu—territory inhabited by more than 11 million people. But the cost to the Congolese government has gone beyond territorial loss; it has also been economic, military, and institutional.
{{DRC’s loss of land and civilian control}}
The areas lost by Kinshasa include regions rich in natural resources. Rubaya, in Masisi Territory, is one of the world’s largest sources of coltan, a key mineral used in electronics. While mining companies continue operations, the state no longer exercises control—nor does it benefit financially.
M23 also controls major commercial hubs like Bunagana and Goma, which are vital for cross-border trade with Uganda. These cities, previously strong revenue sources for the state, are now under rebel administration.
Across areas from Bunagana to Bukavu, M23 has installed its own civil and military administration, providing basic services and security to the population. Many locals now identify more with M23 than the distant government in Kinshasa. The group has won support, particularly among youth, through messaging that frames its campaign as a revolutionary movement. Recruits are trained at the Rumangabo military base in Rutshuru.
{{Heavy military casualties and defections}}
While no official figures have been released, the scale of military losses is apparent. The Congolese army’s repeated defeats led it to shift strategy, increasingly relying on long-range artillery, combat aircraft, and drones.
The overcrowding of Katindo Military Hospital morgues in Goma prompted urgent requests for additional facilities from Colonel Dr. Muyumba Lubanga. High-ranking officers, including Maj Gen Peter Cirimwami Nkuba—then military commander of North Kivu—were killed in action near Sake in January 2025.
Following the fall of Goma, M23 claimed to have killed many Congolese soldiers and Wazalendo fighters. Survivors fled to Rwanda or crossed Lake Kivu by boat to Bukavu. Others surrendered or defected, some joining M23’s cause and receiving training at Rumangabo under the supervision of Maj Gen Makenga.
{{Billions spent, little gained}}
The DRC government has poured vast sums into the war effort. It purchased tanks, Sukhoi-25 fighter jets, Chinese-made CH-4 drones, and hired European mercenaries reportedly paid up to $6,000 per month. It also financed a Burundian military presence estimated at 5,000 soldiers.
According to Africa Intelligence, military spending rose from $459 million in 2021 to $700 million in 2022, then to $1 billion in 2023. Between January and April 2025 alone, the DRC spent another $1 billion, largely due to a pay raise for soldiers after the loss of Goma and Bukavu.
Despite these investments, the M23 continued to advance, undermining the state’s objectives and raising questions about the effectiveness of Kinshasa’s strategy.
{{Loss of revenue and tax base}}
With M23 controlling border towns such as Bunagana, Goma, and Bukavu, the group has taken over customs operations, sidelining the official immigration and tax authorities (DGM). This has enabled M23 to dominate cross-border trade and daily customs revenue.
Rene Tapsoba, IMF’s country representative, recently told Reuters that the DRC’s inability to control mineral-rich regions in the east could reduce national tax revenue by 4% this year.
In response, the DRC government has cut budgets for several ministries and reduced salaries of state-owned enterprise executives. Prime Minister Judith Suminwa Tuluka announced in May 2025 that the war has cost the country 1.7% of its total national budget.
“We’re in an active war in the east, and it’s severely cutting into our finances,” she said. “In the last cabinet meeting, we approved a revised budget to be presented to Parliament. We’ve lost 1.7% of our fiscal resources, mostly redirected toward security.”
{{Weapons and equipment lost to rebels}}
During the capture of Goma and surrounding areas, M23 seized a range of Congolese military equipment—Sukhoi jets, drones, BM-Grad rocket launchers, RPGs, AK-47s, and mortars. The battle also resulted in the loss of four CH-4 drones, three of which were shot down, and one crashed near Kavumu airport in South Kivu.
M23 also captured military trucks and several jeeps, now used for transporting their fighters and maintaining control of occupied zones. The group openly admits that most of its arsenal has been acquired from the Congolese military during battle.
As the war drags on, the DRC continues to haemorrhage resources, losing land, lives, revenue, and military hardware. Meanwhile, M23 not only holds strategic ground but appears to be consolidating civilian control, deepening the crisis facing Kinshasa both militarily and politically.
In its latest Global Trade Update report, the UNCTAD warned that the global trade outlook remains uncertain due to persistent policy instability, geopolitical tensions, and signs of weakening global growth in the second half of the year.
According to the report, global trade rose by about 1.5 percent in the first quarter and was expected to grow by 2 percent in the second quarter.
The report noted that price increases contributed to the overall rise in trade value, while trade volumes grew by just 1 percent. Prices for traded goods edged up in the first quarter and continued to rise in the second quarter.
Services trade remained the primary driver of growth, rising 9 percent over the last four quarters.
The report showed mixed trends in merchandise trade among major economies in the first quarter of 2025, with developed economies outpacing developing countries. The report attributed this to a 14 percent surge in imports by the United States and a 6 percent rise in exports from the European Union.
Meanwhile, the United States has seen a widening trade deficit over the last four quarters, contributing to deepened trade imbalances.
The report also highlighted the heightened risks of trade fragmentation brought by recent U.S. tariffs, including a 10 percent baseline tariff and additional duties on steel and aluminum. It warned that a further wave of unilateral actions could trigger trade tensions.
According to the ICC, Akhundzada, the Taliban’s Supreme leader, and Haqqani, the Chief of Justice, are charged with persecution “on the gender grounds”, a grave offence under the Rome Statute.
This crackdown stems from widespread reports of severe restrictions and abuses targeted at women and girls since the Taliban’s return to power in 2021.
“Pre-Trial Chamber II considered that the Taliban have implemented a governmental policy that resulted in severe violations of fundamental rights and freedoms of the civilian population of Afghanistan, in connection with conducts of murder, imprisonment, torture, rape and enforced disappearance,” ICC said in a statement released on Tiesday, July 8.
According to the ICC, while the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms.
“Specifically, the Taliban severely deprived, through decrees and edicts, girls and women of the rights to education, privacy and family life and the freedoms of movement, expression, thought, conscience and religion.”
In addition, other persons were targeted because certain expressions of sexuality and/or gender identity were regarded as inconsistent with the Taliban’s policy on gender.
Furthermore, the Chamber found that individuals perceived as opposing these policies, even passively or through omission, were also targeted by the Taliban. This included those described as “allies of girls and women”, who were viewed as political opponents.
“The Chamber has decided that the warrants will remain under seal at this stage, in order to protect victims and witnesses and safeguard the proceedings,” the statement added.
“Nevertheless, the Chamber considered that the conduct addressed is ongoing and that public awareness of the warrants may contribute to the prevention of the further commission of these crimes. Accordingly, the Chamber found that it is in the interests of justice to publicly disclose the existence of these warrants.”
The Taliban dismissed the ICC’s warrants as “baseless rhetoric,” with spokesperson Zabihullah Mujahid defending the leadership by claiming they uphold justice based on “the sacred laws of Islamic Sharia.” The clash between the ICC’s global mandate and the Taliban’s defiant stance makes this a developing story to watch.
While ICC’s recent actions send a powerful message, the true challenge lies in their enforcement. Although Afghanistan was a member of the ICC under the previous government, the Taliban, now firmly in control, has rejected this status. This means the prospects of any arrests happening soon are slim.
Despite this hurdle, human rights groups worldwide, including Amnesty International, have praised the ICC’s move as a crucial beacon of hope for Afghan women and girls facing severe oppression.
In a statement, Amnesty International’s Secretary General Agnès Callamard highlighted the importance of this decision, saying it “gives hope to Afghan women, girls, and all those persecuted on the basis of gender identity or expression.”
Trump made the revelations in his Tuesday cabinet meeting at the White House, a day after FIFA President Gianni Infantino unveiled the organisation’s new offices in Trump Tower. The offices will also house the Club World Cup trophy until the tournament’s conclusion.
“I’ll be going to the game,” Trump told reporters after he was asked if he would be attending the final in East Rutherford, New Jersey.
Earlier, Infantino praised the cooperation received from U.S. leadership: “We’ve had tremendous support from the government, the President, and the White House team working on the current FIFA Club World Cup as well as next year’s FIFA World Cup.”
President Trump, whose tower has 58 floors, has long expressed a strong interest in sports and made headlines in February when he became the first sitting U.S. president to attend a Super Bowl game.
The FIFA Club World Cup, featuring 32 teams from around the globe, is doubling as a major test event ahead of the expanded 2026 FIFA World Cup, which the United States will co-host with Canada and Mexico. The 2026 tournament will see participation grow to 48 national teams, making it the largest World Cup in history.
MetLife Stadium, home to the NFL’s New York Jets and New York Giants, will host both the upcoming Club World Cup final and the 2026 World Cup final.
