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UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company

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UN experts say South Sudan is close to securing a  billion oil-backed loan from a UAE company

U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves.

The panel of experts said in a report to the U.N. Security Council that loan documents it has seen indicate the deal with the company, Hamad Bin Khalifa Department of Projects, would be South Sudan’s largest-ever oil-backed loan.

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The experts, who monitor an arms embargo against South Sudan, said in the oil section of the report obtained by The Associated Press this week that “servicing this loan would likely tie up most of South Sudan’s revenue (for) many years, depending on oil prices.”

U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves. (Photo by TIZIANA FABI/AFP via Getty Images)

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Hamad Bin Khalifa Department of Projects, registered in Dubai, has no listed phone number and its website isn’t working. An email address associated with the company bounced back. The UAE Mission to the United Nations declined to comment, saying Hamad is a private company.

South Sudan gained independence from Sudan in 2011 following decades of civil war that cost million of lives, and oil is the backbone of the young nation’s economy.

Soon after independence, South Sudan fought its own civil war from 2013 to 2018, when rivals President Salva Kiir and Vice President Riek Machar signed a power-sharing agreement and formed a coalition government. South Sudan is under pressure from the United States and other nations to more quickly implement the 2018 peace deal that ended the civil war and prepare for elections.

According to the U.S. Energy Information Administration’s latest update, South Sudan produced an average of about 149,000 barrels of liquid fuels per day in 2023. The landlocked country uses Sudan’s pipelines to transfer its oil to Port Sudan for shipment to global markets in an agreement with the Sudanese government, which pockets $23 per barrel as transit fees for the oil exports.

South Sudanese Information Minister Michael Makuei Lueth told reporters in February that outside factors, including the civil war still raging in Sudan, have hurt South Sudan’s oil exports. He also said oil wells, which were water-logged by heavy floods during the past rainy season, weren’t yet fully operational.

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The section on oil in the experts report said documents for the loan from the UAE company, signed between December and February by South Sudan’s minister of finance, indicate the loan is split into tranches.

According to the documents, around 70% of the loan is to be allocated to infrastructure projects, with the first payment in excess of $5 billion, the panel said. Following a three-year grace period, “the loan will be secured against the delivery of crude oil for a period of up to 17 years.”

The panel of experts raised serious questions about South Sudan’s oil-based debts.

South Sudan lost a case in the International Center for Settlement of Investment Disputes stemming from a $700 million loan it received from Qatar National Bank in 2012.

When the panel wrote its report, the tribunal had not reached a decision on how much the government would have to pay, but The Sudan Tribune reported Sunday that South Sudan has been ordered to pay more than $1 billion.

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The panel of experts said it has also confirmed that the government owes $151.97 million to the Eastern and Southern African Trade and Development Bank stemming from a previous oil-related deal.

South Sudan was supposed to hold elections before February 2023, but that timetable was pushed back last August to December 2024.

In early April, South Sudan’s president warned lawmakers “not to cling to power just weeks after his former rival turned deputy proposed a further postponement of elections.

The panel of experts said would be “a significant milestone” and warned that the country’s leaders are running short of time “to ensure divergent expectations do not fuel further tensions and strife.”

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The experts also noted South Sudan’s humanitarian crisis. in which an estimated 9 million of the country’s 12.5 million people need protection and humanitarian assistance, according to the U.N. The country has also seen an increase in the number of refugees fleeing the war in neighboring Sudan, further complicating humanitarian assistance to those affected by South Sudan’s internal conflict.

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Pope Leo XIV says he’s ‘very disappointed’ after Illinois approves assisted suicide law

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Pope Leo XIV says he’s ‘very disappointed’ after Illinois approves assisted suicide law

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Pope Leo XIV said Tuesday he was “very disappointed” after his home state of Illinois approved a law allowing medically assisted suicide.

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Leo, who grew up in Chicago, said he had spoken “explicitly” with Illinois Gov. JB Pritzker while the legislation was on his desk and urged him not to sign the bill into law, saying the measure undermines respect for human life from “the very beginning to the very end.”

“Unfortunately, for different reasons, he decided to sign that bill,” Leo told reporters outside Rome. “I am very disappointed about that.”

The Medical Aid in Dying Act, also referred to as “Deb’s Law,” was signed into law by Pritzker on Dec. 12 and allows eligible terminally ill adult patients to obtain life-ending medication after consultation with their doctors.

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Pope Leo XIV met with Illinois Gov. JB Pritzker during an audience at the Apostolic Palace on Nov. 19 in Vatican City, Vatican. (Simone Risoluti – Vatican Media via Vatican Pool/Getty Images)

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The measure was named after Deb Robertson, a lifelong Illinois resident with a rare terminal illness who had pushed for the bill’s approval.

The law takes effect in September 2026, giving participating healthcare providers and the Illinois Department of Public Health (IDPH) time to implement required processes and protections.

Leo said Chicago Cardinal Blase Cupich also urged Pritzker not to sign the bill, but his efforts were unsuccessful.

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Pope Leo XIV said he was very disappointed” that Illinois passed a law allowing medically assisted suicide. (Alberto Pizzoli/AFP via Getty Images)

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“I would invite all people, especially in these Christmas days, to reflect upon the nature of human life, the goodness of human life,” Leo said. “God became human like us to show us what it means really to live human life, and I hope and pray that the respect for life will once again grow in all moments of human existence, from conception to natural death.”

The state’s six Catholic dioceses have also criticized Pritzker’s decision to sign the bill, saying it puts Illinois “on a dangerous and heartbreaking path.”

Illinois joins a growing list of states allowing medically assisted suicide. Eleven other states and the District of Columbia allow medically assisted suicide, according to the advocacy group, Death with Dignity, and seven other states are considering allowing it.

After signing the bill, Pritzker said the legislation would allow patients with terminal illnesses to “avoid unnecessary pain and suffering at the end of their lives,” and said it would be “thoughtfully implemented” to guide physicians and patients through deeply personal decisions.

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Illinois Gov. JB Pritzker signed the Medical Aid in Dying Act on Dec. 12, allowing eligible terminally ill adult patients to obtain life-ending medication after consultation with their doctors. (Jacek Boczarski/Anadolu via Getty Images)

Fox News Digital has reached out to Pritzker’s office for comment.

Fox News Digital’s Alexandra Koch and The Associated Press contributed to this report.

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Europeans show solidarity with Denmark after Trump’s Greenland threat

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Europeans show solidarity with Denmark after Trump’s Greenland threat

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Exactly one year after Donald Trump first announced his intention to integrate Greenland into US territory on grounds of “national protection”, he’s back for more.

The US president has appointed Governor of Louisiana, Jeff Landry, as the new US special envoy for Greenland with the stated objective of “integrating Greenland into the United States” and repeated the US needs the territory for its national security.

His comments have been taken seriously by EU heads of state and government, who are presenting a united front against what they describe as American expansionist ambitions towards the autonomous territory, which is part of the Kingdom of Denmark.

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France’s President Emmanuel Macron and his Minister for Europe and Foreign Affairs, Jean-Noël Barrot, both responded to the announcement by reaffirming their support for the integrity of Denmark’s territory.

“Greenland belongs to its people. Denmark stands as its guarantor. I join my voice to that of Europeans in expressing our full solidarity.”

On Tuesday, Trump told reporters the United States “needs Greenland for national security, not for minerals or oil, but national security. And if you take a look at Greenland, there are Russian and Chinese ships all over the place. So, we need this for protection.”

He also chastised Denmark for what he described neglecting the territory, “they have spent no money, they have no military protection, they say Denmark arrived there 300 years ago with boats – we were there with boats too, I’m sure. We’ll have to work it all out.”

Adding to the European voices pushing back on the US ambitions and the criticism of Denmark, Commission Ursula von der Leyen insisted that “territorial integrity and sovereignty are fundamental principles of international law”. Despite the tone coming out of Washington, she appeared to refer to the US as an ally in arctic security.

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Spanish Prime Minister Pedro Sánchez echoed those remarks. “Respecting sovereignty and territorial integrity is central to the EU and to all nations of the world,” he wrote on X. “Security in the Arctic is a priority in which we seek to work with allies and partners.”

The US and Denmark are part of NATO, which is supposed to ensure mutual defence in the event of aggression against one of its members. That principle has never been tested by conflict between members of the alliance if one were to seize territory from another.

NATO Secretary General Mark Rutte has so far remained silent on the issue. During a press conference with Trump in the White House’s Oval Office in March, he also chose not to comment after a question from a journalist.

“When it comes to Greenland, if it joins the US or not, I will leave that outside of me in this discussion because I don’t want to drag NATO into that,” he said.

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US economy expands at a surprisingly strong 4.3% annual rate in the third quarter

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US economy expands at a surprisingly strong 4.3% annual rate in the third quarter

WASHINGTON (AP) — The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, as government and consumer spending, as well as exports, all increased.

U.S. gross domestic product from July through September — the economy’s total output of goods and services — rose from its 3.8% growth rate in the April-June quarter, the Commerce Department said Tuesday in a report delayed by the government shutdown. Analysts surveyed by the data firm FactSet forecast growth of 3% in the period.

However, inflation remains higher than the Federal Reserve would like. The Fed’s favored inflation gauge — called the personal consumption expenditures index, or PCE — climbed to a 2.8% annual pace last quarter, up from 2.1% in the second quarter.

A television on the floor at the New York Stock Exchange in New York, display a news conference with Fed chairman Jerome Powell, Wednesday, Dec. 10, 2025. (AP Photo/Seth Wenig)

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Excluding volatile food and energy prices, so-called core PCE inflation was 2.9%, up from 2.6% in the April-June quarter.

Economists say that persistent and potentially worsening inflation could make a January interest rate cut from the Fed less likely, even as central bank official remain concerned about a slowing labor market.

“If the economy keeps producing at this level, then there isn’t as much need to worry about a slowing economy,” said Chris Zaccarelli, chief investment officer for Northlight Asset Management, adding that inflation could return as the greatest concern about the economy.

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In a slow holiday trading week, U.S. markets on Wall Street turned lower following the GDP report, likely due to growing doubts that another Fed rate cut is coming next month.

Consumer spending, which accounts for about 70% of U.S. economic activity, rose to a 3.5% annual pace last quarter, up from 2.5% in the April-June period.

A person carries a shopping bag in Philadelphia, Wednesday, Dec. 10, 2025. (AP Photo/Matt Rourke, File)

A person carries a shopping bag in Philadelphia, Wednesday, Dec. 10, 2025. (AP Photo/Matt Rourke, File)

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Consumption and investment by the government grew by 2.2% in the quarter after contracting 0.1% in the second quarter. The third quarter figure was boosted by increased expenditures at the state and local levels and federal government defense spending.

Private business investment fell 0.3%, led by declines in investment in housing and in nonresidential buildings such as offices and warehouses. However, that decline was much less than the 13.8% slide in the second quarter.

Within the GDP data, a category that measures the economy’s underlying strength grew at a 3% annual rate from July through September, up slightly from 2.9% in the second quarter. This category includes consumer spending and private investment, but excludes volatile items like exports, inventories and government spending.

Exports grew at an 8.8% rate, while imports, which subtract from GDP, fell another 4.7%.

Tuesday’s report is the first of three estimates the government will make of GDP growth for the third quarter of the year.

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Outside of the first quarter, when the economy shrank for the first time in three years as companies rushed to import goods ahead of President Donald Trump’s tariff rollout, the U.S. economy has continued to expand at a healthy rate. That’s despite much higher borrowing rates the Fed imposed in 2022 and 2023 in its drive to curb the inflation that surged as the United States bounced back with unexpected strength from the brief but devastating COVID-19 recession of 2020.

Though inflation remains above the Fed’s 2% target, the central bank cut its benchmark lending rate three times in a row to close out 2025, mostly out of concern for a job market that has steadily lost momentum since spring.

Roofers work atop a house in Anna, Texas, Thursday, Dec. 18, 2025. (AP Photo/LM Otero)

Roofers work atop a house in Anna, Texas, Thursday, Dec. 18, 2025. (AP Photo/LM Otero)

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Last week, the government reported that the U.S. economy gained a healthy 64,000 jobs in November but lost 105,000 in October. Notably, the unemployment rate rose to 4.6% last month, the highest since 2021.

The country’s labor market has been stuck in a “low hire, low fire” state, economists say, as businesses stand pat due to uncertainty over Trump’s tariffs and the lingering effects of elevated interest rates. Since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March. Fed Chair Jerome Powell has said that he suspects those numbers will be revised even lower.

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