Asia First - Wed 11 Jun 2025
02:25:45 Min
Asia First
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CNA
21 minutes ago
- CNA
Trump touts 'done' deal with Beijing on rare earths, allowing Chinese students in US universities
WASHINGTON: US President Donald Trump touted ties with China as "excellent" on Wednesday (Jun 11), saying the superpowers reached a deal after two days of talks aimed at preserving a truce in their damaging trade war. Trump said on his Truth Social platform that China would supply rare earth minerals and magnets - vital elements for US industries - while Washington would allow Chinese students to remain in US universities. His post came hours after top US and Chinese negotiators announced a "framework" agreement late Tuesday following two days of marathon talks in London. "Our deal with China is done," Trump wrote, adding that the agreement was still "subject to final approval with President Xi (Jinping) and me". US stock markets showed little enthusiasm despite Trump's latest statements, with the broad-based S&P 500 and the Dow flat while the tech-heavy Nasdaq edged higher in morning deals. "CANDID" TALKS The two sides had agreed to reduce their tit-for-tat, triple-digit tariffs during talks in Geneva last month, but cracks appeared in the detente after Trump accused China of violating the deal. Washington was concerned about slower supplies of rare earths after Beijing in early April began requiring domestic exporters to apply for a licence, widely seen as a response to US tariffs. Rare earths are used in everything from electric vehicles to hard drives, wind turbines and missiles. US Commerce Secretary Howard Lutnick said in London on Tuesday that US measures imposed when rare earths "were not coming" would likely be relaxed once Beijing moved forward with more license approvals. In his Truth Social post, Trump said China will supply "full magnets, and any necessary rare earths ... up front". Washington has infuriated Beijing by vowing to revoke the visas of Chinese students - a major source of revenue for US universities. On Wednesday, Trump said: "We will provide to China what was agreed to, including Chinese students using our colleges and universities." The US president also said that under the deal, the United States would apply 55 per cent tariffs on Chinese goods - a combination of his 30 per cent additional levies and the rough average of pre-existing duties, a White House official said. He said Beijing would charge 10 per cent duties on US goods. The rates are the same as those that were previously agreed in the truce, which brought US tariffs down from 145 per cent and those imposed by China from 125 per cent. In a Chinese state media readout of the talks released Wednesday, Vice Premier He Lifeng, who headed Beijing's team in London, stressed the need for the two sides to strengthen cooperation in future dialogue. "As a next step, the two sides should ... continuously enhance consensus, reduce misunderstandings and strengthen cooperation," He Lifeng said, according to state broadcaster CCTV. Speaking to reporters in London, China International Trade Representative Li Chenggang said: "Our communication has been very professional, rational, in-depth and candid." Trump's announcement came as an international rights group said several global brands are among dozens of companies at risk of using forced labour through their Chinese supply chains because they use critical minerals or buy minerals-based products sourced from the Xinjiang region of China. The report by the Netherlands-based Global Rights Compliance says companies including Avon, Walmart, Nescafe, Coca-Cola and paint supplier Sherwin-Williams may be linked to titanium sourced from Xinjiang, where rights groups allege the Chinese government runs coercive labour practices targeting predominantly Muslim Uyghurs and other Turkic minorities. The report found 77 Chinese suppliers in the titanium, lithium, beryllium and magnesium industries operating in Xinjiang. It said the suppliers are at risk of participating in the Chinese government's 'labour transfer programs', in which Uyghurs are forced to work in factories as part of a long-standing campaign of assimilation and mass detention. Asked about the report, the Chinese Foreign Ministry said that 'no one has ever been forcibly transferred in China's Xinjiang under work programs'.
CNA
21 minutes ago
- CNA
Exclusive-SBI Shinsei plans to file in July for a year-end relisting, sources say
TOKYO :SBI Shinsei Bank, a unit of SBI Holdings, is planning on filing as early as next month to relist on the Tokyo Stock Exchange, two people familiar with the matter said. SBI Shinsei, which is aiming to list by the end of the year, would follow a series of sizeable flotations in Japan over the past year as companies look to capitalise on market momentum that has seen the Nikkei share price average trade near record highs. The bank is aiming for a valuation of around 1.5 trillion yen ($10.46 billion), one of the people said, almost double that of JX Advanced Metals, which listed in March. The people declined to be identified as the information is not public. SBI Holdings said it has maintained for some time it is considering listing SBI Shinsei Bank and that the July filing and year-end listing are not something it is aware of. ($1 = 143.4700 yen)
CNA
an hour ago
- CNA
How Newcastle graduates are shaping the future across borders and industries
In the devastating wake of the 2004 Indian Ocean tsunami that claimed more than 200,000 lives across Southeast Asia and beyond, Mr Anwar Abdullah and his colleagues from the ASEAN Committee on Disaster Management moved swiftly into action. To strengthen regional cooperation on disaster prevention, preparation, response and recovery, they spearheaded the creation of the ASEAN Agreement on Disaster Management and Emergency Response (AADMER). As he helped manage the intense discussions and negotiations among all 10 ASEAN member nations, Mr Anwar drew on skills he first developed during his undergraduate studies at the University of Newcastle, Australia, from which he graduated in 1993 with a Bachelor of Economics (Honours). Ranked among the world's top 40 institutions according to the Times Higher Education Impact Rankings, the University of Newcastle established its Asia-Pacific hub in Singapore in 2006. The Newcastle Australia Institute of Higher Education partners local and regional organisations and institutions to deliver high-quality academic programmes and drive transformative research. 'The university's focus on global citizenship, critical thinking and inclusive leadership gave me the intellectual foundation and interpersonal skills that shaped my work with ASEAN and on the international stage, particularly during the negotiation and eventual ratification of AADMER in 2009,' Mr Anwar shared. Mr Anwar's contributions to AADMER are just one example of how Newcastle graduates are making a difference across borders and industries. As the University of Newcastle celebrates its 60th anniversary in 2025 – alongside SG60 and six decades of strong ties between Australia and Singapore – its alumni continue to push boundaries, creating new opportunities that advance excellence, sustainability and equity at home and around the world. LEARNING TO LEAD IN THE REAL WORLD Mr Anwar, who is currently CEO of credits his leadership learning at the University of Newcastle for his successful career as deputy commissioner in the Singapore Civil Defence Force and chief executive of the Home Team Academy (HTA), a position he held until early this year. 'The University of Newcastle nurtured in me a sense of responsibility to lead with integrity, serve with empathy and remain courageous in the face of uncertainty,' said the former president of the university's Singapore Students Association. 'The university's encouragement of innovative thinking also greatly influenced my leadership style and has driven many initiatives at HTA, such as adopting new training technologies and reimagining curriculum frameworks.' Under Mr Anwar's leadership, HTA forged strategic alliances, nurtured public-private partnerships and established four Centres of Excellence in a boost to its global public safety and security training reputation. Exposure to diverse worldviews and wide-scale challenges during his undergraduate education was also key to Mr Anwar's tenure at the United Nations Office for the Coordination of Humanitarian Affairs from 2012 to 2021, where he served as a co-chair of the United Nations International Search and Rescue Advisory Group Guidelines Review Committee. Tasked to lead the revision of international search and rescue protocols, Mr Anwar recounted collaborating with global partners, drawing on operational insights and cultural intelligence to improve global disaster response frameworks. 'My time at the University of Newcastle prepared me well for a career and a purpose-driven journey in service and innovation. Whether it's protecting a nation, supporting students or shaping international humanitarian standards, service transcends borders.' For Dr Sunny Johar, the University of Newcastle offered a springboard to a global career. Drawn by the university's academic reputation and its emphasis on equipping students with real-world skills, Dr Johar pursued her Bachelor of Business degree there. 'The University of Newcastle stood out for its strong academic programmes, global recognition and commitment to equipping students with the skills to lead in an interconnected world,' she explained. 'Its focus on combining theoretical knowledge with practical experience aligned with my aspirations.' Since graduating in 2014, Dr Johar has risen to become managing director of Southeast Asia and group head of digital strategy at KRDS Digital. She credits her ability to thrive in fast-evolving environments to the foundation built during her time at Newcastle. 'The knowledge I gained about strategic operations and running a business has directly contributed to my career progression, helping me to lead teams with purpose and clarity,' she shared. Dr Johar aims to expand KRDS Digital's reach by driving continued innovation in digital marketing, advertising and technology, while nurturing a high-performing team. She draws inspiration from the faculty at the University of Newcastle, who encouraged students to think critically about complex global challenges. Those lessons have shaped her journey as a business leader. 'The faculty emphasised the importance of being humble, curious and striving to be better every day. As a leader, I strive to instil a culture of learning and continuous improvement, empowering my team to adapt quickly and make data-driven decisions while retaining their creativity, curiosity and strategic thinking.' Mr Anwar is also a firm believer in the value of continuous learning. After earning his Master of Science in Risk, Crisis and Disaster Management from the University of Leicester in United Kingdom in 2005, he has remained committed to personal and professional growth. He said: 'By continually acquiring new skills and knowledge, lifelong learners become more innovative, resilient and better equipped to make meaningful contributions to their professions, communities and society.' As the University of Newcastle marks its 60th anniversary, Dr Johar hopes that graduates across Australia, Singapore and the region will embrace the opportunities ahead. 'The world is changing rapidly, and with the right blend of academic excellence, practical skills and an entrepreneurial mindset, Newcastle graduates are poised to make a significant impact in their fields,' she noted. 'I hope they will apply the lessons learned at the university to create a future that is not only successful, but meaningful.'
