title: The World in Brief: Donald Trump’s Board of Peace pledges $5bn for Gaza
author: The Economist
content_type: newsletter
publication: e.economist.com
published: 2026-02-16T05:31:21-06:00
source_url: gmail://19c663c724d24fc4
word_count: 1963
Also: Sir Keir Starmer tries yet another reset
February 16th 2026 For subscribers
The World in Brief
Catch up quickly on the global stories that matter
Photo: AP
Today’s top stories
▸ Donald Trump said his Board of Peace , a club of world leaders that has been criticised for its $1bn membership fee and Mr Trump’s sole veto power, has pledged more than $5bn towards the reconstruction of Gaza —albeit a fraction of the estimated $70bn required. Ahead of a meeting in Washington, DC on Thursday, Mr Trump claimed that its members, which include allies such as Hungary’s Viktor Orban, would deploy “thousands of personnel” to uphold security in Gaza.
▸ ByteDance vowed to curb an AI video-making tool after Disney and other entertainment firms threatened legal action. Social-media platforms have been filled with clips featuring Marvel superheroes and other Disney characters in recent days. Disney’s lawyers accused ByteDance of a “virtual smash-and-grab”. According to the BBC, the Chinese tech giant responded by promising to “strengthen current safeguards”, but did not provide more details.
▸ Israeli air strikes killed at least __ 12 people in Gaza on Sunday, according to Palestinian officials. Israel said the attacks were retaliation for Hamas having violated a ceasefire agreement a day earlier. Meanwhile, Israel approved a plan to designate areas of the occupied West Bank as “state property”, a move that has been criticised as de facto annexation.
▸ Herman Halushchenko, a former Ukrainian minister, was arrested while trying to leave the country. Mr Halushchenko was one of several senior officials to resign last year after being implicated in an alleged $100m embezzlement scheme. Separately, Volodymyr Zelensky, the president, said on Saturday that Ukraine needed “two months of ceasefire” to hold an election, which America has been pushing for as a condition of continued security guarantees.
▸ American forces interdicted and boarded a ship in theIndian ocean , according to the Pentagon. The _Veronica III_ , a vessel under sanctions, left the coast of Venezuela with a hold full of oil on January 3rd, the day that America’s armed forces captured Nicolás Maduro, the country’s dictator. It is the second oil tanker carrying Venezuelan oil that America has seized this month.
▸ North Korea unveiled a new housing district in Pyongyang, the capital, for families of soldiers killed fighting alongside Russian forces in Ukraine. State media showed Kim Jong Un touring “Saeppyol Street” with his daughter, Kim Ju Ae, who is increasingly believed to be his heir. According to South Korean intelligence, the hermit kingdom has sent thousands of troops to aid Russia’s war.
▸ Italy’s Arco degli Innamorati , a limestone landmark known as the Lovers’ Arch, collapsed after being battered by strong winds and heavy rainfall on Valentine’s Day. The arch in Puglia often served as a backdrop for postcards, selfies and wedding proposals in Salento, one of Italy’s most popular tourist destinations. Melendugno’s mayor, Maurizio Cisternino, described the incident as a “devastating blow”.
▸ _How well have you been following the headlines? Test your knowledge of the news withour weekly quiz.
Figure of the day
9m square kilometres, all that remains of the jaguar’s original range. Read the full story.
Today’s markets
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The day ahead
GETTY IMAGES
European industry’s bumpy recovery
As China’s firms rise, Europe’s policymakers have been fretting over how to boost the European Union’s competitiveness. One plan is to give the European Commission, the EU’s executive arm, a mandate to propose reforms to capital and energy markets. Another suggestion is to add “Buy European” clauses to a bill that is expected to be revealed next week and is designed to beef up the bloc’s industries.
The latest production figures, released on Monday, might seem to support those fears. They show that industrial output for December fell by 1.4% in the euro area and by 0.8% in the EU compared with November. But the end-of-year setback comes after several months of growth, and production in December 2025 was still higher than it had been a year previously. Firms are increasingly optimistic, according to sentiment surveys. Those numbers suggest that European leaders should not embrace protectionism quite yet.
Sir Keir’s umpteenth reset
Sir Keir Starmer’s leadership crisis has claimed another victim. First the prime minister’s chief of staff, Morgan McSweeney, resigned on February 8th over his advice to appoint Peter Mandelson as Britain’s ambassador to America, despite the grandee’s ties to Jeffrey Epstein. The next day his director of communications, Tim Allan, followed. Now Sir Chris Wormald, the cabinet secretary, who advises the prime minister on the workings of government, has been forced out. He barely lasted a year.
Sir Keir, the most unpopular prime minister ever, is safe, for now. His clear-out of senior staff is an attempt to reboot his premiership for the umpteenth time. He is at the mercy of Labour’s soft-left MPs. To prevent a coup, the prime minister will probably double down on progressive legislation, such as labour laws that are a throwback to the 1970s . Harder problems, such as soaring welfare spending, will have to wait for another day.
Can Takaichi Sanae balance the books?
Japan’s economy grew by an annualised 0.2% in the fourth quarter of 2025, according to preliminary data released on Monday. Though an improvement over the previous quarter, when GDP contracted, the new figure is far lower than what analysts had expected. Private consumption, which accounts for more than half of GDP, grew by just 0.1%. Household finances remain under strain; real wages fell by 1.3% in 2025.
Takaichi Sanae, the prime minister, wants to use fiscal policy to boost growth. She plans to spend in order to strengthen supply chains. And she wants to suspend an 8% sales tax on food for two years, potentially forgoing ¥10 trillion ($64bn). Keenly aware that Japan’s debt is already 130% of GDP , Ms Takaichi says no new bonds will be issued to cover costs. Investors are sceptical. Yields rose before a snap election on February 8th, then stabilised. Having won a supermajority, Ms Takaichi has a strong mandate. Making the sums work will test it.
Vietnam’s leader visits America
Fresh off a victory over factional rivals in Vietnam’s most recent Communist Party congress, To Lam, the party’s general secretary, is expected to travel to America this week to attend the first meeting of President Donald Trump’s “Board of Peace”.
Vietnam’s inclusion among the board’s founding members was a surprise. Rumours that Mr Lam hopes to meet Mr Trump to discuss trade may explain it. America’s third-largest trade deficit, worth $124bn, is with Vietnam. Its goods face a 20% tariff. “Transshipped” goods, the definition of which remains unclear, are subject to a 40% tax. A sixth round of talks with America earlier this month ended without a resolution.
Vietnam’s peculiar history with the United Nations, which American officials claim the board may replace, could also play a role: Vietnam has been invaded by four of the five permanent members of the UN Security Council.
The real cost of rice
Food production is the world’s second largest emitter of greenhouse gas after making energy, contributing to almost 12% of the world’s total output. Growing crops accounts for a quarter of this. Researchers at Cornell University have now mapped these emissions by food type, allowing policymakers to assess which might be worth the environmental cost given the calories they produce.
Their study, published in _Nature Climate Change_ , shows that rice, maize, oil palm and wheat account for two-thirds of crops’ emissions. Part of this is explained by the ubiquity of these four staples. But rice and palm-oil production are particularly polluting compared with the other two. Rice alone is responsible for 43% of gas produced. Yet while paddies belch methane, rice fills bellies. Palm-oil production pumps out carbon but contributes less to diets. Fruits and vegetables are energy-dense and less polluting. The map, the authors argue, could help cut agricultural emissions.
SANDRA NAVARRO
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