Foreign News
Ethiopia Becomes Africa’s Latest Sovereign Default

Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a 33-million-dollar “coupon” payment on its only international government bond.
Africa’s second most populous country announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the Coronavirus (COVID-19) pandemic and a two-year civil war that ended in November 2022.
It had been supposed to make the payment on Dec.
11, but technically had up until Tuesday to provide the money due to a 14-day ‘grace period’ clause written into the 1 billion dollars bond.According to two sources familiar with the situation, bondholders had not been paid the coupon as of the end of Friday Dec.
22, the last international banking working day before the grace period expires.Ethiopian government officials did not respond to requests for comment on Friday or over the weekend, but the widely-expected default will see it join two other African nations – Zambia and Ghana – in in a full-scale “Common Framework” restructuring.
The East African country first requested debt relief under the G20-led initiative in early 2021.
Progress was initially delayed by the civil war but, with its foreign exchange reserves depleted and inflation soaring, Ethiopia’s official sector government creditors, including China agreed to a debt service suspension deal in November.
On Dec. 8, the government said parallel negotiations it had been having with pension funds and other private sector creditors that hold its bond had broken down.
Credit ratings agency S&P Global then downgraded the bond, to “Default” on Dec. 15 on the assumption that the coupon payment would not be made. (Reuters/NAN)
Foreign News
Australian Researchers Launch Open-source, Affordable DNA Measurement Device

Australian researchers have created an affordable, open-source device to measure DNA levels using parts made with a standard 3D printer.
The Do-It-Yourself Nucleic Acid Fluorometer (DIYNAFLUOR) offers an affordable alternative to expensive commercial DNA fluorometers, often out of reach for many researchers.
This is according to a statement released on Wednesday by Australia’s University of Queensland (UQ), which led the research.
Fluorometers, vital for DNA sequencing, which itself is essential for disease detection, therapeutic innovation, and species identification, can now be easily built at home.
Thanks to the simple, accessible device developed by UQ’s Australian Institute for Bioengineering and Nanotechnology (AIBN), the statement said.
The device can be built in under a day for around 60 Australian dollars (about 39 dollars) using off-the-shelf electronics and 3D-printed parts.
It’s with free instructions online and no need for advanced skills or specialised tools, said the designer of the device, Will Anderson, at the AIBN.
Once built, the device quantifies DNA by using a light beam to produce a fluorescent response from the dyed DNA present in the sample.
It would then report the DNA concentration to a connected computer, Anderson said.
“This is crucial information that can tell you whether you can proceed with more expensive tests and sequencing,” he added.
Laboratory tests confirmed the device matches the accuracy and sensitivity of costly commercial models, offering an affordable, open-source solution for researchers in resource-limited, remote, or educational settings, said the study.
Foreign News
Trump Imposes 25% Tariff on Indian Goods, Criticizes Ties with Russia

U.S. President Donald Trump said he is imposing a 25 per cent tariff on goods from India starting on Friday.
Writing on his Truth Social platform, Trump sharply criticises New Delhi for its military and energy ties with Russia.
He described India as a “friend” but accused the country of maintaining unfair trade practices that disadvantage U.
S. businesses.India has “strenuous and obnoxious” trade barriers that keep its markets closed to companies, he wrote, adding that its tariffs are “far too high.
”Trump also took aim at India’s relationship with Russia, saying: “They have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China.
In addition to the new tariff, Trump said India would face a financial “penalty” for its purchases from Russia, though he did not provide further details.
Foreign News
Zelensky Announces New Draft Law on Anti-corruption Bodies after Protests

Ukrainian President Volodymyr Zelensky said he has approved the text of a draft law guaranteeing the freedom of two anti-corruption bodies in Ukraine – days after nationwide protests broke out over changes curbing their independence.
Kyiv’s Western partners had also expressed serious concerns over the legislation.
On Thursday, Zelensky seemed to backtrack, saying the new bill was intended to safeguard the independence of Ukraine’s National Anti-Corruption Bureau (Nabu) and Specialised Anti-Corruption Prosecutor’s Office (Sap), and to protect them from Russian influence.
He said the text of the bill was “balanced”, but did not provide any details.
The law passed earlier this week brought Nabu and Sap under the control of the prosecutor general, who is appointed by the president.
At the time Zelensky justified his decision to curtail the bodies’ powers by citing Russian influence. The day before, Ukraine’s security services had carried out searches and arrests targeting alleged Russian spies at the agency.
The passing of the legislation instantly sparked the largest protests since the start of Russia’s full-scale invasion in February 2022 in several cities across Ukraine, with many worrying the law would severely undermine the Nabu and Sap’s authority and effectiveness.
Thousands of people gathered in streets and squares across Ukraine, holding placards calling for the legislation to be vetoed.
Several commentators accused Zelensky of democratic backsliding. Their concerns were further exacerbated when Ukraine’s Western partners signalled their displeasure with the bill.
Ukraine has official EU candidate status and a spokesman for European Commission chief Ursula von der Leyen previously warned Kyiv that the rule of law and the fight against corruption were “core elements” of membership to the bloc.
On Thursday, the Commission said it “welcomed” the Ukrainian government’s decision to take action against the bill.
“We are working [with the Ukrainian government] to make sure that our concerns… are indeed taken into account,” the spokesman said.
Nabu and Sap were created in 2014-15 as one of the requirements set by the European Commission and International Monetary Fund to move towards a relaxation of visa restrictions between Ukraine and the EU.
Writing on Facebook, opposition MP Oleksiy Goncharenko noted Zelensky said that “the independence of anti-corruption institutions must be guaranteed.”
“First we take it away, and then we say that it must be guaranteed. So why was all this necessary?”
In his message on social media on Thursday, Zelensky did not acknowledge the protests or the backlash but said it was “important that we respect the position of all Ukrainians and are grateful to everyone who stands with Ukraine.”