Federal Reserve Holds Firm on Interest Rates Amid Economic Uncertainty

The Federal Reserve's Federal Open Market Committee (FOMC) began its two-day meeting today, with analysts predicting no immediate changes to interest rates. Despite weaker economic data in recent months, the Fed is expected to maintain its cautious approach due to global uncertainties.  

Chair Jerome Powell has emphasized the importance of monitoring inflation and employment trends before making any adjustments. February's Consumer Price Index (CPI) and Producer Price Index (PPI) showed a declining trend, but concerns about tariffs and trade policies continue to weigh on the economy.  

The Fed's decision, along with its updated economic projections, will be announced tomorrow. Investors are particularly interested in the "dot plot," which outlines policymakers' expectations for future rate changes.  

Sudan Launches Case Against UAE at World Court

Sudan has filed a case against the United Arab Emirates (UAE) at the International Court of Justice (ICJ), accusing the UAE of complicity in alleged genocide against the Masalit ethnic group in West Darfur. The complaint centers on the actions of the Rapid Support Forces (RSF) and allied militias, which Sudan alleges have committed acts of genocide, murder, theft, rape, forcible displacement, and other human rights violations. Sudan claims these acts were carried out with the direct support of the UAE, including the supply of weapons, artillery, ammunition, drones, and other military equipment.

Sudan's case is based on Article 36, paragraph 1, of the ICJ Statute and Article IX of the Genocide Convention, to which both countries are signatories. The UAE, however, made a reservation upon acceding to the Genocide Convention, seeking to exclude disputes under the Convention from the ICJ’s jurisdiction. Sudan argues this reservation is invalid as it is incompatible with the Convention’s object and purpose.

Alongside the lawsuit, Sudan has requested the ICJ impose provisional measures to protect the Masalit population, including an order for the UAE to cease all support for the RSF and to take steps to prevent further acts of genocide. The ICJ has acknowledged the urgency of the situation and will prioritize Sudan’s request for provisional measures. The case highlights the complex geopolitical dynamics in the region and the ongoing disputes between Sudan and the UAE.

Russian Strikes on Ukraine Kill at Least 23

Russian strikes on Ukraine have resulted in the deaths of at least 23 people, further intensifying the conflict between the two nations. The attacks targeted various locations, including Odesa, Kryvyi Rih, and Dnipro, causing significant damage to infrastructure and civilian casualties. 

Ukrainian officials have condemned the strikes as acts of aggression, highlighting the ongoing volatility of the situation. The strikes occurred shortly after Ukraine agreed to a 30-day ceasefire during negotiations with a US delegation in Saudi Arabia. Despite the ceasefire agreement, Russia launched a series of missile and drone attacks, raising doubts about its commitment to peace2. The international community continues to monitor the situation closely, with diplomatic efforts ongoing to resolve the conflict.