Libre News of The World Thursday the 24th of April 2025

On this episode of Libre News of the World, we journey across continents to uncover the most pivotal global developments shaping economies, conflicts, diplomacy, and environmental decisions. We begin in India, where private sector business activity surged to an eight-month high in April, driven by a sharp increase in export orders and robust job creation in manufacturing. The HSBC Flash India Composite PMI rose to 60.0, reflecting strong economic momentum, though services confidence dipped slightly (Reuters: https://www.reuters.com/world/india/indias-private-sector-business-activity-surges-8-month-high-april-pmi-2025-04-23/). In Europe, Germany's economy faltered again as the HCOB flash composite PMI dropped to 49.7, marking a renewed contraction due to weakened services and trade tensions with the U.S. (Handelsblatt: https://www.handelsblatt.com/politik/deutschland/konjunktur-deutschlands-wirtschaft-im-april-wieder-geschrumpft/100044243.html). Meanwhile, the UK saw its sharpest private sector contraction in over two years, with a PMI reading of 48.2 and mounting concerns over export orders and employment taxes triggering talks of a potential Bank of England rate cut (The Guardian: https://www.theguardian.com/business/2025/apr/23/uk-business-activity-contracts-april-global-trade-pmi). In Portugal, the caretaker government has requested the activation of the EU’s fiscal escape clause to raise defense spending without breaching deficit limits, joining EU efforts to reach NATO's 2% GDP benchmark (Diário de Notícias: https://www.dn.pt/politica/portugal-pede-flexibilizacao-orcamental-para-gastos-com-defesa-18428947.html). Spain has already taken that step, with Prime Minister Pedro Sánchez announcing a €10.5 billion increase in defense expenditure to reach NATO targets by 2025 (El País: https://elpais.com/espana/2025-04-22/sanchez-eleva-el-gasto-en-defensa-para-cumplir-la-meta-de-la-otan-en-2025.html). Across the Atlantic, Brazil’s cocoa industry is set for a transformation, as entrepreneur Moisés Schmidt launches a $300 million industrial-scale farm aiming to meet surging global demand and counter West African shortages (Reuters: https://www.reuters.com/markets/commodities/brazils-would-be-cocoa-king-aims-revolutionize-industry-with-giant-farm-2025-04-22/). In Africa, the IMF urged proactive debt restructuring, introducing a new framework with the World Bank to assist struggling nations, as growth forecasts were revised downward to 3.9% for 2025 (Bloomberg Africa: https://www.bloomberg.com/news/articles/2025-04-22/imf-urges-faster-africa-debt-revamps-as-growth-outlook-darkens). From Eurasia, Finance Minister Mehmet Şimşek traveled to Washington to reassure investors of Turkey’s economic stability after a surprise interest rate hike and growing political unrest (Financial Times: https://www.ft.com/content/2f5babc7-7a20-4c17-bf3d-ec18c28757b0). Meanwhile, China and Saudi Arabia signed a sweeping energy and defense cooperation pact during Prime Minister Narendra Modi’s visit to Riyadh, deepening bilateral ties through oil, gas, agriculture, and counter-terrorism initiatives (The Hindu: https://www.thehindu.com/news/national/india-saudi-arabia-deepen-energy-defence-ties/article67849547.ece). Tensions simmered further as Ukraine accused China of indirectly aiding Russia’s war effort through alleged drone support and unauthorized tech transfers, which Beijing firmly denied (Reuters: https://www.reuters.com/world/europe/zelenskiy-says-chinese-citizens-working-drone-production-site-russia-2025-04-22/). Finally, Iceland’s only whaling company, Hvalur hf., canceled its 2025 fin whale hunt amid market collapse and shifting public sentiment, signaling a potential end to commercial whaling in the region (Iceland Review: https://www.icelandreview.com/news/icelands-only-whaling-company-cancels-2025-hunt/). Stay tuned as Libre News of the World continues to bring you the stories reshaping our planet.