Thousands rally in Serbia's capital demanding snap elections after months of protests
Thousands rally in Serbia's capital demanding snap elections after months of protests (AP)
BELGRADE: Thousands of people rallied on Friday in Serbia's capital demanding early elections following seven months of persistent anti-corruption protests that have shaken the populist rule of President Aleksandar Vucic.
The protest in Belgrade was organized by Serbia's university students, who have been a key force behind the nationwide demonstrations triggered by a collapse on Nov. 1 of a concrete train station canopy in the country's north that killed 16 people.
Many people in Serbia believe that the deadly crash was the result of flawed renovation work on the station building, and they link the disaster to alleged government corruption in major infrastructure projects with Chinese state companies.
Protesting university students have been demanding accountability for the crash and the rule of law in Serbia, a Balkan nation that is formally seeking European Union entry but where the ruling populists have been accused of clamping down on democratic freedoms.
After months-long protests drawing hundreds of thousands of people, the student movement is now seeking a snap vote, arguing that the current government cannot meet their demands for justice for the crash victims.
Presidential and parliamentary elections are otherwise due some time in 2027.
Vucic, whom critics accuse of an increasingly authoritarian rule despite the proclaimed EU bid, initially dismissed early elections but on Friday suggested they may be held, though without saying exactly when.
No one has been sentenced in connection with the tragedy in the northern city of Novi Sad. Authorities have indicted over a dozen people but doubts prevail that the proceedings will uncover the alleged corruption behind the crash.
A huge, noisy column of protesters in Belgrade marched by the state prosecutor's offices before reaching the government building. They carried a big banner urging elections.
Maja Rancic said she was hopeful the protests can bring about changes: "I really hope and wish, and I think it will happen."
Vucic's government has stepped up pressure on the protesting students and Serbia's universities, claiming without proof that they were instructed by foreign powers to stage a revolution in the country.
Students are planning more protests all over the country this weekend.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
31 minutes ago
- First Post
From Taco to Mega, what are the Trump acronyms becoming a huge hit on Wall Steet?
Donald Trump's love for coming up with slogans and snappy acronyms has made him popular on the Wall Street. Now, investors have gone a step further and created their own acronyms, some which may not sit well with the US president read more The Wall Street has come up with several acronyms for Donald Trump. File image/AP Four months into President Donald Trump's second term, market observers have taken a cue from his fondness for condensing slogans into catchy acronyms like Maga, Doge and Maha, and devised a few of their own that have been spreading across trading desks. Even those acronyms that do not directly reflect a specific trading strategy, still capture factors that traders say are important in Trump-era markets, such as volatility and uncertainty, that investors need to consider when making decisions. STORY CONTINUES BELOW THIS AD Some of the new labels are associated with investment strategies that aimed to capitalise on Trump's economic and trade policies and international relations goals. Others riff off economic implications or his abrupt U-turns as markets and trade partners react to his proposals. The 'Trump Trade' that played on the Make America Great Again theme in the wake of his November election victory and January inauguration, and contributed to record highs on Wall Street in February, is hardly discussed now that stocks, the dollar and Treasury bonds have succumbed to worries about his tariff policies. 'Post the election, we heard a lot about Yolo (You Only Live Once), which seemed to promote taking outsize risks in a concentrated investment theme,' Art Hogan, strategist at B. Riley Wealth, said. Yolo, is an acronym used to describe the tendency that was part of the Trump trade to chase high-momentum strategies such as cryptocurrency. 'While the term Yolo was popular for a period of time, it goes against all traditional advice,' Hogan said. Here are a few more acronyms that have gotten play in the investment world in recent weeks: STORY CONTINUES BELOW THIS AD Taco (Trump Always Chickens Out) This one, coined by a Financial Times columnist, has been used as a way to describe Trump's to-ing and fro-ing on tariffs in the wake of his April 2 'Liberation Day' speech. When asked about Taco in a recent press conference , the president lashed out, calling the question 'nasty' 'Where we end up might not be too far from what he promised on the campaign trail. So, does he always chicken out? I wouldn't go as far as to say that,' said Christian DiClementi, fixed income portfolio manager at AllianceBernstein. 'I think that he wants to rebalance the economy without pushing it off a cliff. And we're watching that being executed in real-time. I think some of the ideas are thought out and some of them change on the fly.' Yolo, is an acronym used to describe the tendency that was part of the Trump trade to chase high-momentum strategies such as cryptocurrency. File image/AP Mega (Make Europe Great Again) Mega first coined last year to address European competitiveness, resurfaced this Spring as a way to describe the flurry of investor interest in and flows into European markets. Mega hats, spoofing their Maga counterparts, are easily purchased online It's been revived by investors and traders in light of the outperformance of European stocks in the immediate aftermath of Trump's 'Liberation Day' tariffs bombshell. Maga (Make America Go Away) While the original Trump Trade was also known as the Maga trade, this variation cribbed the president's motto, first appearing in response to Vice President JD Vance's brief and unfruitful visit to , which Trump has expressed interest in annexing. At least one Canadian investor says that quip is making the rounds of trading desks in Toronto and Montreal and sparking 'wishful thinking' about simply boycotting US investments. During his election campaign, one of the many promises were to 'Make America Great Again'. File image/AFP Fafo (F**k Around and Find Out) Although the acronym also came into being well before Trump's inauguration, it is being heard with increasing frequency in trading desk conversations. It is used to capture the financial market's volatility and chaos that Trump's policy-making process has created. Mark Spindel, chief investment officer of Potomac River Capital LLC, described the market as being caught in a 'pinball machine as a result of that policy-making process.' When reached for comment, White House spokesman Kush Desai said in an email 'these asinine acronyms convey how unserious analysts have consistently beclowned themselves by mocking President Trump and his agenda that have already delivered multiple expectation-beating jobs and inflation reports, trillions in investment commitments, a historic UK trade agreement and rising consumer confidence.'
Mint
34 minutes ago
- Mint
Who is Karol Nawrocki? Poland's new President supported by Donald Trump — Know all about him
Conservative Karol Nawrocki won Poland's presidential election, several reports suggested on Monday citing the final vote count. Nawrocki won 50.89 percent of votes in a very tight race against liberal Warsaw Mayor Rafał Trzaskowski, who received 49.11 percent votes. Nawrocki will succeed Andrzej Duda, a conservative whose second and final term ends on August 6. Most day-to-day power in the Polish political system rests with a prime minister chosen by the parliament. However, the president's role is not merely ceremonial. The office holds the power to influence foreign policy and to veto legislation. Right-wing candidate Nawrocki is a conservative historian and heavyweight boxing champion. He was backed by US President Donald Trump in the presidential elections. He won the polls and is set to become Poland's new President. Nawrocki reportedly received help from the White House, having visited Trump briefly in the Oval Office last month. On a visit to Poland last week, US Homeland Security Secretary Kristi Noem urged Poles to vote for Nawrocki to ensure the country enjoys close ties with Trump. Nawrocki , a 42-year-old former boxer, was tapped by the Law and Justice party as part of its push for a fresh start. The party governed Poland from 2015 to 2023, when it lost power to a centrist coalition led by Donald Tusk. Nawrocki has most recently been the head of the Institute of National Remembrance, which embraces nationalist historical narratives. He led efforts to topple monuments to the Soviet Red Army in Poland, and Russia responded by putting him on a wanted list, according to Polish media reports. 'Defender of Polish value': Nawrocki has positioned himself as a defender of traditional Polish values, the Associated Press reported. His supporters describe him as the embodiment of traditional, patriotic values. Those who oppose secular trends, including LGBTQ visibility, have embraced him, viewing him as a reflection of the traditional values they grew up with. Nawrocki's stance on NATO, EU: He opposes NATO membership for Ukraine and positioned himself a sceptical of the EU. Nawrocki's 'criminal links': The report further informed that Nawrocki's candidacy was clouded by allegations of past connections to criminal figures and participation in a violent street battle. Nawrocki denies the criminal links but acknowledges having taken part in "noble" fights. The revelations have not appeared to dent his support among right-wing voters, many of whom see the allegations as politically motivated. Nawrocki's Catholic values: A political newcomer, Nawrocki spent the campaign touting his core Catholic values while railing against migration and the EU's attempts to fight climate change, Bloomberg reported. 'Nawrocki's win could jeopardize...': With Nawrocki's win, the agenda of Prime Minister Donald Tusk is at stake. Tusk's coalition had ousted Poland's nationalists in 2023. Nawrocki's win could jeopardize Tusk's ambition to return Warsaw to the EU mainstream and maintain bloc funding.
Mint
34 minutes ago
- Mint
JSW Steel, Vedanta, Tata Steel and other metal stocks drop up to 2% as Trump doubles tariffs to 50%
Indian metal stocks started June on a sombre note, with the Nifty Metal index declining 1.6% in early trade on Monday, June 2. Fourteen out of fifteen constituents opened in the red, trading with cuts of up to 2%. Lloyds Metals & Energy, JSW Steel, Welspun Corp, Vedanta, Tata Steel and Steel Authority of India emerged as the top laggards. While it's not just metal counters facing selling pressure on Dalal Street today, the red wave swept across the board as global trade tensions resurfaced, triggering risk-off sentiment among investors. US President Donald Trump last week intensified trade tensions, announcing he would double tariffs on steel and aluminum imports and accusing China of violating a prior agreement to ease tariffs. Speaking at a rally in Pennsylvania, Trump said the US would raise steel tariffs from 25% to 50% starting next week while highlighting the partnership between Japan's Nippon Steel and US Steel. Later, taking to his Truth Social account, Trump wrote, 'It is my great honor to raise the tariffs on steel and aluminium from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!' The announcement comes amid an ongoing legal battle over the legality of some of Trump's tariff policies. An appeals court has allowed the case to proceed after the Court of International Trade ordered a halt to the taxes. Trump accused China of violating a tariff truce reached in early May—a claim Beijing rejected, countering with accusations of US wrongdoing. China, the world's largest steel producer and exporter, has seen its steel exports to the US decline significantly since the 25% tariff was imposed in 2018. While India's exports of steel and aluminium to the US are limited, the drop in metal stocks occurred amid growing concerns that a potential rise in tariffs could impact global metal demand. A call between Trump and Chinese President Xi Jinping is expected later this week in a possible effort to ease trade tensions. On the economic front, Chinese factory activity data contracted at a slower pace in May than the month prior, also aiding the selling pressure in metal stocks today. As tariff headlines once again dominate global markets, Asian indices opened in the red on Monday, with the Nifty 50 and Sensex falling nearly 1% in early trade. Rising geopolitical tensions between Ukraine and Russia also pushed investors toward safe-haven assets, leading to a sharp decline in equities. According to Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market structure currently supports a continuation of the ongoing consolidation phase. He noted that global headwinds—particularly renewed tariff concerns—are likely to restrain any breakout rally. However, strong domestic tailwinds may offer support at lower levels. He added that the recent announcement of 50% tariffs on steel and aluminium by President Trump signals ongoing uncertainty in the global trade environment, which may act as a significant headwind for markets. On the domestic front, however, factors such as better-than-expected Q4 GDP growth at 7.4%, improving trends in consumption and capital expenditure, low inflation, and the prospect of continued rate cuts present a solid foundation for sustained economic growth in FY26. The only near-term challenge, he pointed out, is weak earnings growth. If leading indicators begin to reflect a recovery, the market has a strong chance of breaking out of its current range and moving higher. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
