Latest News 27 February 2025
International News
1 Gaza Ceasefire Talks:
Hamas has also accepted to negotiate the next phase of the Gaza ceasefire. As part of the agreement, they also released the bodies of four hostages for which Israel freed over 600 Palestinian detainees. Negotiations for a permanent ceasefire and release of the final hostages, however, have not yet begun.
2 US-Ukraine Relations:
The US and Ukraine agreed on a pact that will give America access to Ukraine’s rare earth minerals. The pact, however, does not contain any US security assurances to Ukraine. Secondly, the previous US President Donald Trump revealed a 25% tariff on the European Union’s imports, which further fuelled trade tensions.
US Politics & Economy
3 Establishment of Government Efficiency Department
Ex-President Donald Trump has signed a proclamation extending Elon Musk’s “Department of Government Efficiency” (DOGE) to enact further budget-cutting measures within the US government.
4 Tax Policy Debates:
The Trump government is preparing a budget that will reduce taxes and increase the military expenditure, which has caused concern over the country’s deficit.
Economic News
5 IMF’s India Exchange Rate Report:
India’s exchange rate has been rated as “stable” by the International Monetary Fund (IMF). However, after the recent rupee devaluation, the IMF has also recommended more currency flexibility to absorb external economic shocks.
Public Safety
6 New York Rikers Island Prison Violence;
Brooklyn gang member Sundance Oliver has attacked 48 prison guards and staff members in the last two years at New York’s Rikers Island Prison. Because of state laws, he cannot be put in solitary confinement, which makes it a security issue.
Entertainment News
Oscars 2025 Gift Bags:
Oscar gift bags for the year feature designer dog apparel, marijuana treats, and other luxury treats for celebrities present. Stay tuned later for more!