Indian Airstrikes and Pakistani Response: India conducted airstrikes on nine sites in Pakistan-administered Kashmir and Punjab province, killing 31 people. This was in retaliation for a militant attack in Indian-administered Kashmir that killed 25 Hindu tourists and their guide.Pakistan's Vow of Retaliation: Pakistan's Prime Minister Shehbaz Sharif has vowed to "avenge each drop of the blood of these martyrs." Deputy Prime Minister Ishaq Dar stated Pakistan would go to "any extent" to defend its dignity and authorized the military to take "corresponding" retaliatory action, which would be "measured, proportionate and responsible."Xi Jinping's Russia Visit: Chinese President Xi Jinping is on a four-day visit to Moscow, attending Victory Day commemorations and holding talks with Vladimir Putin. This visit, occurring during Ukrainian drone attacks on Moscow, underscores the close "no limits" relationship between China and Russia. Bilateral trade has reached record levels since the 2022 invasion.Ukraine Considers Shift to Euro: Ukraine is considering shifting its currency's reference point from the US dollar to the euro, influenced by potential EU accession, increased EU defense support, market volatility, and global trade fragmentation. This move highlights a potential reorientation of Ukraine's economic ties towards Europe.US Immigration Policy and Criminal Gangs: Brazil has rejected a US request to designate two major criminal gangs (PCC and Comando Vermelho) as terrorist organizations. The US sought this designation to aid immigration policy and target transnational gangs, citing FBI reports of these gangs having cells in 12 US states. Brazil's security minister stated they have criminal organizations, not terrorist ones under their law.Vatican Conclave: The first day of the conclave to elect a new pope has concluded with black smoke, indicating a failure to elect a new pontiff. Cardinals were urged to set aside "personal considerations" and choose the pope the church and humanity need at this "difficult and complex turning point in history."US Federal Reserve Holds Rates: The Federal Reserve held interest rates steady but noted increased risks of both higher inflation and unemployment, further clouding the economic outlook. Uncertainty about the impact of Trump administration tariff policies was cited.

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