10 Things Global News - 3rd February 2026
Succinct, unbiased news from around the world
India Markets Surge as US Slashes Tariffs on Key Exports
Egypt Drone Deployment Signals Deeper Role in Sudan War
Russian Strikes Hit Kyiv and Kharkiv as Pause Ends
Ukraine Backs 24-72 Hour Plan to Enforce Ceasefire
Iran Warns US Strike Could Trigger Protests as Talks Loom
Trump Launches $12 Billion Minerals Reserve to Cut China Reliance
Trump Says Mexico Will Halt Oil Shipments to Cuba
Noem Orders Body Cameras After Minneapolis Shootings
Clintons Agree To Testify In House Epstein Probe
SpaceX Buys xAI in $1.25 Trillion Stock Deal
Indian financial markets rallied sharply after the United States agreed to cut tariffs on Indian goods following India’s agreement to stop buying Russian crude thereby easing a major drag on investor sentiment. The rupee posted its biggest gain in more than three years, while benchmark stock indices recorded their strongest single-day rises in years following the announcement.
The US said it would lower its tariff on Indian goods to 18 percent from 25 percent, while also removing an additional 25 percent duty imposed in response to India’s purchases of Russian crude. The NSE Nifty 50 jumped nearly 5 percent and the BSE Sensex rose more than 5 percent in early trading, while the rupee strengthened 1.2 percent to 90.4600 per dollar.
The move removes a key overhang that had weighed on Indian assets after months of foreign selling. Strategists said the deal could support the balance of payments, improve earnings visibility for export-oriented sectors, and encourage foreign investors to re-enter the market, though sustainability will depend on follow-through and earnings upgrades.
Sources: Bloomberg, The Hindu
Egypt has deployed advanced Turkish-made combat drones to a remote airstrip near its border with Sudan, signalling a sharper escalation in the nearly three-year civil war, according to officials, analysts and satellite imagery reviewed by Reuters. The move suggests Cairo is being drawn more directly into a conflict that has already killed tens of thousands and displaced millions.
Satellite images show Bayraktar Akinci drones at the East Oweinat airstrip, around 60 kilometres from the Sudanese border. Egyptian security officials acknowledged supplying military equipment to southern airports to secure the border and carry out strikes to protect national security, though Cairo has not confirmed operational details.
Analysts say Egypt’s stance hardened after the Rapid Support Forces made gains in Darfur, including the fall of al-Fashir in October. The deployment adds to a widening international dimension to the war, which has drawn in multiple foreign backers and raised fears of further regional destabilisation.
Sources: Reuters, New York Times
Russian forces launched missile and drone attacks on Kyiv, Kharkiv and other Ukrainian cities early on Tuesday, damaging residential buildings and energy infrastructure as winter temperatures plunged. Officials said the strikes injured several people and triggered fires across multiple districts.
In Kyiv, explosions were reported after midnight as missiles and drones were deployed, with damage recorded in five districts. Three apartment blocks and a building housing a kindergarten were hit, according to the city’s military administration. Air raid alerts lasted for hours as temperatures fell to around minus 20 degrees Celsius. In Kharkiv, attacks targeted energy infrastructure, forcing officials to drain coolant from heating systems supplying 820 apartment buildings to prevent them from freezing.
The strikes came after a brief pause in attacks on major cities and energy facilities linked to talks involving Russia, Ukraine and the United States. Russia said the moratorium had ended, while Ukraine said it should continue, underscoring uncertainty ahead of further talks planned in the United Arab Emirates.
Sources: Reuters, CNN
Ukraine has agreed with Western partners on a multi-tier plan to respond to persistent Russian violations of any future ceasefire, according to people briefed on the discussions.
Under the proposal, a breach would trigger a response within 24 hours, starting with a diplomatic warning and any action required from the Ukrainian army to halt the infraction. If hostilities continued, forces from a “coalition of the willing” including many EU members plus the UK, Norway, Iceland and Turkey would intervene. In the case of an expanded attack, a coordinated response by a Western-backed force incorporating the US military would be triggered 72 hours after the initial breach.
The plan was discussed in December and January, ahead of talks in Abu Dhabi on February 4 and 5 between envoys from Kyiv, Moscow and Washington. The US has offered high-tech monitoring along the 1,400km front line.
Sources: FT, Straits Times
Iran’s leadership fears that a US military strike could reignite mass protests and threaten the survival of the ruling system, according to current and former officials briefed on internal discussions. Officials warned that public anger following a bloody January crackdown has reached a point where fear is no longer restraining unrest.
According to the officials, Supreme Leader Ayatollah Ali Khamenei was told that many Iranians were prepared to confront security forces again, and that external pressure could embolden them. The private warnings contrast with Tehran’s defiant public stance and reflect concern that a strike combined with renewed demonstrations could cause irreparable damage to the political establishment.
The warnings come as Washington weighs military options while also preparing possible diplomatic talks with Iran in Istanbul. US President Donald Trump has threatened intervention, even as officials signal readiness for negotiations over Iran’s nuclear programme. Analysts said any attack could prompt harsher repression, raising the risk of widespread bloodshed rather than restoring control.
Sources: Reuters, NBC News
President Donald Trump has unveiled plans for a $12 billion critical minerals stockpile aimed at shielding US manufacturers from supply disruptions and reducing reliance on China’s dominance of rare earths. The initiative, known as Project Vault, was announced at the White House as a public-private effort to secure materials essential to industry.
The project will combine about $2 billion in private capital with a $10 billion loan from the US Export-Import Bank, which officials said would be the largest deal in the bank’s history. The reserve will focus on rare earths and critical minerals such as gallium and cobalt, used in products ranging from jet engines to smartphones, and is modelled on the strategic petroleum reserve.
More than a dozen companies have agreed to participate, including major manufacturers and technology firms. The scheme allows companies to lock in future purchases at set prices, insulating them from price shocks while avoiding the need to maintain their own stockpiles.
Sources: Bloomberg, The Independent
President Donald Trump said Mexico would stop sending oil to Cuba as Washington escalates pressure on the island, which is already struggling with severe fuel shortages and widespread blackouts. Trump offered no details to support the claim, and Mexican authorities did not immediately respond.
Mexico is Cuba’s largest oil supplier, and the island relies heavily on imported fuel to generate electricity and supply transport. US sanctions and a prolonged economic crisis have limited Cuba’s ability to buy fuel, leaving it dependent on a small group of allies. Mexican officials have said shipments were provided for humanitarian reasons, while also signalling they are reviewing the policy amid concern over possible US reprisals.
The comments come as Cuba confirmed it is in communication with the United States, though not yet engaged in formal talks. US pressure to block oil deliveries, including from Venezuela, has intensified shortages, raising fears among regional analysts that further cuts could push Cuba toward a humanitarian crisis.
Sources: Reuters, South China Morning Post
All Department of Homeland Security officers on the ground in Minneapolis will be immediately issued body-worn cameras, Homeland Security Secretary Kristi Noem said, after two US citizens protesting immigration enforcement were shot and killed by federal agents. Noem said the programme would expand nationwide as funding becomes available.
The announcement follows disputes over official accounts of the shootings. Noem initially said ICU nurse Alex Pretti attacked officers with a weapon, but multiple videos showed he had only a mobile phone as officers tackled him, with one removing a handgun from the back of his pants as another fired into his back. DHS said at least four Customs and Border Protection officers at the scene wore body cameras, but the footage has not been made public.
President Donald Trump said the decision was Noem’s, adding that cameras are generally good for law enforcement because people cannot lie about what happened.
Sources: Associated Press, CNN
Bill and Hillary Clinton agreed to testify in a US House investigation into Jeffrey Epstein, heading off a potential contempt vote after they had refused to appear in person. A spokesman said they would attend and “look forward to setting a precedent that applies to everyone”.
The House Rules Committee had advanced resolutions accusing them of defying subpoenas to explain their links to Epstein, who died in custody in 2019. Republicans cite Bill Clinton’s use of Epstein’s private jet in the early 2000s, while the couple previously submitted sworn written statements.
Bill Clinton said the flights were for Clinton Foundation humanitarian work and that he never visited Epstein’s private island. Hillary Clinton said she had no meaningful interactions with Epstein, never flew on his plane and never visited his island.
Sources: Le Monde, South China Morning Post
Elon Musk is combining SpaceX and xAI in an all-stock deal valuing the enlarged entity at $1.25 trillion, with SpaceX marked at $1 trillion and xAI at $250 billion. Shares in the combined company are expected to be priced around $527, with xAI shares converted into SpaceX stock at roughly seven to one.
Executives said SpaceX is still aiming for an initial public offering in June, expected to raise as much as $50 billion. Musk said “orbital data centres” will be essential and argued that global electricity demand for AI “cannot be met with terrestrial solutions” without hardship, making space-based AI “the only way to scale”.
SpaceX said the acquisition is meant to build a vertically integrated engine spanning AI, rockets and the Starlink network of more than 9,000 satellites, whose revenue is now outpacing launch sales and could fund xAI, which is burning around $1 billion a month.
Sources: Bloomberg, FT
On this day ….
On this day in 1468 Johannes Gutenberg died leaving behind an invention that transformed the political and intellectual history of Europe.
His movable-type printing press dramatically reduced the cost of producing books, accelerating the spread of ideas across borders and social classes.
Printing helped fuel the Reformation, standardised languages, and weakened traditional monopolies over knowledge held by church and state.
Over time, mass printing reshaped how power, information, and dissent travelled - effects still visible in today’s debates over digital media and misinformation.
Gutenberg’s legacy lies not only in technology, but in how information itself became a force that could challenge authority.