My take 5 (Edition 49) The week that was in international affairs: Trump's ‘U-turn' on Putin; Estonia conducts HIMARS drill
Welcome back to another edition of My Take 5, your weekly round-up of top international news. This week we are covering Trump's possible U-turn on Putin, Estonia and the Baltics get ready with HIMARS, EU unveils its 18th sanctions package, Israel attacks Syria, turmoil in Bangladesh, and a bonus about the singing chief rabbi of Ukraine:
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Business Standard
2 minutes ago
- Business Standard
Lawyers seek to delay Abrego Garcia's release over deportation fears
Lawyers for Kilmar Abrego Garcia have asked a federal judge in Tennessee to delay releasing him from jail in order to prevent the Trump administration from trying to swiftly deport the Maryland construction worker. US District Judge Waverly Crenshaw Jr in Nashville is expected to rule soon on whether to free Abrego Garcia while he awaits trial on human smuggling charges. If the Salvadoran national is released, US officials have said he would be immediately detained by immigration authorities and targeted for deportation. Abrego Garcia became a prominent face in the debate over President Donald Trump's immigration policies when he was wrongfully deported to his native El Salvador in March. That expulsion violated a US immigration judge's order in 2019 that shields Abrego Garcia from deportation to El Salvador because he likely faces threats of gang violence there. The administration claimed that Abrego Garcia was in the MS-13 gang, although he wasn't charged and has repeatedly denied the allegation. Facing mounting pressure and a US Supreme Court order, the Trump administration returned Abrego Garcia to the US last month to face the smuggling charges, which his attorneys have called preposterous. The smuggling case stems from a 2022 traffic stop for speeding, during which Abrego Garcia was driving a vehicle with nine passengers. Police in Tennessee suspected human smuggling, but he was allowed to drive on. US officials have said they'll try to deport Abrego Garcia to a country that isn't El Salvador, such as Mexico or South Sudan, before his trial starts in January because they allege he's a danger to the community. US Magistrate Judge Barbara Holmes in Nashville ruled a month ago that Abrego Garcia is eligible for release after she determined he's not a flight risk or a danger. Abrego Garcia's attorneys asked her to keep him in jail over deportation concerns. Holmes' ruling is being reviewed by Crenshaw after federal prosecutors filed a motion to revoke her release order. Abrego Garcia's attorneys initially argued for his release but changed their strategy because of the government's plans to deport him if he is set free. With Crenshaw's decision imminent, Abrego Garcia's attorneys filed a motion Sunday night for a 30-day stay of any release order. The request would allow Abrego Garcia to evaluate his options and determine whether additional relief is necessary. Earlier this month, US officials detailed their plans to try to expel Abrego Garcia in a federal court in Maryland. That's where Abrego Garcia's American wife, Jennifer Vasquez Sura, is suing the Trump administration over his wrongful deportation in March and is trying to prevent another expulsion. US officials have argued that Abrego Garcia can be deported because he came to the US illegally around 2011 and because a US immigration judge deemed him eligible for expulsion in 2019, although not to his native El Salvador. Following the immigration judge's decision in 2019, Abrego Garcia was released under federal supervision, received a federal work permit and checked in with ICE each year, his attorneys have said. But US officials recently stated in court documents that they revoked Abrego Garcia's supervised release. Abrego Garcia's attorneys in Maryland have asked US District Judge Paula Xinis to order the federal government to send Abrego Garcia to that state to await his trial, a bid that seeks to prevent deportation. His lawyers also asked Xinis to issue at least a 72-hour hold that would prevent immediate deportation if he's released from jail in Tennessee. Xinis has not ruled on either request.
Economic Times
2 minutes ago
- Economic Times
Asian shares advance, Japan gains after elections
Asian shares rose at the open after US stocks soared to a record ahead of a busy earnings week that will include results from Tesla Inc. and Alphabet Inc. ADVERTISEMENT Shares in Tokyo — where Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election — gained 1% as trading resumed after a public holiday Monday. The MSCI regional stock gauge advanced 0.3% after the S&P 500 index closed above 6,300 for the first time. A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. Traders are now looking for signs of resilience in corporate earnings amid tariff risks.'Earnings season will move into full swing this week, and the guidance will be more important than usual,' said Matt Maley, chief market strategist at Miller Tabak. 'This guidance is going to have create a very large increase in earnings estimates if the market is going to reach some of the targets that exist on Wall Street right now.'Investors also kept a close eye on tariff headlines. Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added. ADVERTISEMENT Meanwhile, Philippine President Ferdinand Marcos Jr. will be the latest foreign leader eager to make a deal before the US-imposed Aug. 1 tariff deadline when he visits Trump in the Oval Office later Tuesday. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. ADVERTISEMENT The yen depreciated slightly against the dollar after strengthening as much as 1% Monday following Ishiba's the election out of the way, 'the possibility of a 'sell Japan' trend, due to worries over extreme fiscal spending, has lessened,' supporting stock prices, said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. However, uncertainty around the new political landscape is likely to cap gains, he said. ADVERTISEMENT In the US, the second-quarter earnings season is off to a ripping start, with consumer strength powering resilient corporate profits. Yet after hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits.'While stocks may be due for a breather, we believe the bull market remains intact,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'We maintain our June 2026 S&P 500 price target of 6,500, and recommend using volatility as an opportunity to phase into markets.' ADVERTISEMENT The S&P 500 hasn't posted a 1% up or down day since late June, and Mark Hackett at Nationwide notes that volatility gauges also remain 'suspiciously quiet.' 'This calm is unusual and may reflect both investor fatigue and institutional hesitation to fight the current trend,' he said. 'We're in a window where calm can quickly turn to complacency. While a break in either direction is possible, current positioning suggests we'd bet on a rally before a drop.' (You can now subscribe to our ETMarkets WhatsApp channel)
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First Post
2 minutes ago
- First Post
FirstUp: Philippines' Marcos Jr to meet Trump in US, UK's F-35B jet to fly out of Kerala... The headlines today
Philippine President Ferdinand Marcos Jr is in Washington DC and will meet his American counterpart, Donald Trump, today in a bid to secure a more favourable trade deal. The UK's F-35B Lightning fighter jet, which was stranded in Kerala for more than a month, is likely to fly back home. Bangladesh will observe a one-day mourning following the crash of an air force training aircraft in a school in Dhaka's Diabari area read more President of the Philippines Ferdinand Marcos (left), and US President Donald Trump (right) are likely to meet. File image/AP It is set to be a busy Tuesday with several events lined up for the day. Firstly, Philippine President Ferdinand Marcos Jr is set to meet US President Donald Trump today, hoping to secure a more favourable trade deal. Meanwhile, the British Royal Navy F-35B Lightning fighter jet is likely to fly back home after being stranded in Kerala's Thiruvananthapuram International Airport for nearly a month. Bangladesh will observe a one-day mourning after an air force training aircraft crashed in a school in Dhaka on July 21. Federal Reserve Chair Jerome Powell is scheduled to speak during a banking conference in Washington, DC, today. STORY CONTINUES BELOW THIS AD The UK government will begin enforcing the first phase of immigration reforms from today. The UEFA Women's EURO 2025 semi-finals will witness the first match between England and Italy in Geneva today. Here is all that is set to take place throughout the day. Philippines' president to meet Trump President of the Philippines Ferdinand Marcos will meet US President Donald Trump in Washington today to secure a more favourable trade deal before the August 1 deadline. 'I expect our discussions to focus on security and defence, of course, but also on trade,' Marcos said in a speech before leaving Manila. Marcos will be the first Southeast Asian leader to meet Trump in his second term. Trump has already struck trade deals with two of Manila's regional partners, Vietnam and Indonesia, driving tough bargains in trade talks even with close allies that Washington needs to keep onside in its strategic rivalry with China. F-35B fighter to fly out of Kerala The British Royal Navy F-35 fighter jet that is parked in Kerala's Thiruvananthapuram will fly back home today. The aircraft made an emergency landing at the airport over a month ago and has been parked here since then. According to airport sources, the repair works of the jet, part of the UK's most advanced stealth fleet, were completed. 'It is being brought out of the hangar now. The jet will be brought to our bay, and it will fly back on Tuesday,' a source said. F-35 fighter jet has parked in Kerala's Thiruvananthapuram International Airport for nearly a month. File image/PTI Known to be one of the most advanced fighter aircraft in the world and worth over $110 million, the jet has remained grounded at the international airport here since June 14 after it developed a technical snag, reported news agency PTI. Bangladesh govt declares 1-day mourning for crash victims The Bangladesh government has declared a one-day state mourning after the tragic crash of a Bangladesh Air Force training aircraft into a school in Dhaka just a day earlier. STORY CONTINUES BELOW THIS AD As part of the mourning, the national flag will be flown at half-mast on all government, semi-government, and autonomous institutions, as well as educational institutions across the country. The flag will also remain at half-mast at all government and private buildings, including Bangladesh missions abroad. Throughout the country, all religious institutions will hold special prayers for the victims of the accident, both those who perished and those who sustained injuries. Jerome Powell to speak in Washington US Federal Reserve Chair Jerome Powell is scheduled to speak at a conference in Washington, DC, today. Powell will be speaking at the 'Integrated Review of the Capital Framework for Large Banks Conference,' which is being hosted by the Federal Reserve. The event will be a hybrid one, allowing for both in-person attendance at the Federal Reserve's Martin Building and a livestream for remote viewing. This speaking engagement comes at a time of heightened scrutiny and political tension as President Donald Trump has repeatedly and publicly criticised the Fed for its monetary policy decisions. US Federal Reserve Chair Jerome Powell. File image/AP The conference itself is focused on the capital framework for large banks, a crucial area of financial regulation and stability. Following Powell's opening, Federal Reserve Vice Chair for Supervision Michelle Bowman is also scheduled to moderate a discussion on 'Innovation' at the same conference later in the day. STORY CONTINUES BELOW THIS AD UK new visa rules to be implemented The first phase of the immigration reforms will take place today as new visa rules will be enforced in the United Kingdom. This is a part of the wider immigration policy agenda titled 'Restoring control over the immigration system'. To reduce net migration, new measures will narrow the list of jobs eligible for sponsorship and prohibit overseas hiring in the care sector. The white paper, released on May 12, indicates the government's strategic objective of increasing the difficulty of relocating to and establishing residency in the UK. While this document does not constitute an alteration to immigration law per se, several of its outlined proposals are presently being operationalised through modifications to existing immigration regulations. UEFA Women's Euro semi finals Defending champions England are set to face a resurgent Italy in the UEFA Women's Euro 2025 semi-final at Stade de Genève in Geneva. Kick-off is set for 8 pm BST (12 am IST), with both teams aiming to book a place in the final on July 27. England's path to the semi-final has been dramatic and hard-fought. After recovering from an opening loss to France, the Lionesses bounced back with dominant group-stage wins over the Netherlands and Wales. Their quarter-final clash against Sweden was a test of resilience. With inputs from agencies
