Trump gives 2 shocks to Zelensky at G7; blocks anti-Russia declaration & snubs…
At the G7 summit in Canada, U.S. President Donald Trump delivered two major shocks to Ukraine and its allies. Trump abruptly left the summit early, skipping a planned meeting with Ukrainian President Volodymyr Zelensky, who had traveled 5,000 miles to press for increased support amid a deadly Russian missile strike on Kyiv. The U.S. also blocked a proposed G7 statement that would have strongly condemned Russia's actions, arguing that such language could hinder future negotiations with Moscow. Watch for more
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Mint
9 minutes ago
- Mint
With schemes and sops, India is powering up its ship engines
The monster shipyards of China, Korea and Japan have dominated the world's shipmaking for long. Now, India wants to muscle in. A series of measures to build, repair and finance ships in India are likely this year, two people aware of the plans said, as the country aims to become a global maritime hub. The government is working on nearly a dozen mission-mode measures to fire up the local shipping industry, including a maritime development fund, a revamped shipbuilding assistance scheme, and policies to strengthen domestic ships and ports, the people said on the condition of anonymity. Apart from shipbuilding, repairs and recycling, the new schemes will also cover financing, insurance, technical management, staffing-crewing and manning, and arbitration. 'The idea is to plug every critical gap in the value chain so that India is not just building ships, but also financing, insuring, managing, and resolving disputes, essentially offering end-to-end maritime solutions," one of the two people cited above said. Chinese dominance Japan, South Korea, and China jointly command 90% of global shipbuilding, with China alone accounting for nearly 50% of all new vessel orders. The Chinese dominance has alarmed the US, with president Donald Trump slapping port fees on Chinese-built ships and proposing tax sops for US-made vessels, terming it crucial for security, prosperity, and jobs. Also read | India plans its own shipping fleet; wants to provide assured demand for ships built in the country from state-run firms India is also courting shipbuilders and financiers from Korea and Japan to set up shop in India, the second person added. The goal is to get these companies to support and form Indian joint ventures offering leasing and financing options, with an aim to ensure ships built in India find buyers at home and abroad. India has also urged some of these companies to offer shipping finance in India, replicating the model in their home country, the people cited above said. Foreign tie-ups 'Korean and Japanese shipbuilders are in talks with Indian counterparts to form JVs. Cochin Shipyard, for instance, is exploring a partnership with Korean firms for shipbuilding in Kerala," the second person added. A shipping ministry spokesperson didn't respond to emailed queries. "With less than 1% share in the global shipbuilding market, India is launching a multi-pronged maritime strategy to break into the world's top 10 by 2030 and top five by 2047," the first person mentioned above said. "Alongside mega shipbuilding parks, the government will roll out missions for ship repair, recycling, financing, insurance, cruise infrastructure, and arbitration—all aimed at building a full-service maritime ecosystem," the first person said. Read this | Shipping industry likely to get ₹25,000-crore boost To be sure, recent MoUs signed during Union shipping minister Sarbananda Sonowal's Norway visit reflect growing international interest. Private power Private shipbuilders are also joining in. Garden Reach Shipbuilders & Engineers has signed deals with Germany's Carsten Rehder to make hybrid 7,500 deadweight tonnage (DWT) vessels, UAE's Aries Marine for offshore platforms, and a global engine manufacturer. Larsen & Toubro has also partnered with Norway's DNV to collaborate on shipbuilding and port infrastructure. "The recent developments are part of a larger push under India's new shipbuilding mission," the second person said. 'We are not just building ships; we are building the entire ecosystem. Alongside mega shipbuilding parks on both coasts, we are launching parallel missions for financing, insurance, staffing, and more to anchor India's maritime ambitions," the person added. In September, Mint reported on India's ambitious shipbuilding push, aiming to tap into a global market where traditional giants such as China, Korea and Japan, are overbooked, prompting buyers to seek alternative production hubs for modern vessels. Also read | For India's shipping industry, a new rule promises to be a game-changer "While we are seeing progress, the global market is still dominated by China, South Korea, and Japan. To bridge that gap, what is needed now is a clear push for foreign investment and technology transfer," Pushpank Kaushik, chief executive officer and head of business development (subcontinent, middle east and southeast Asia) at Jassper Shipping. "If policy can make space for that, it will not only attract global players but also strengthen our position in the international market. This would be a strong complement to the government's vision and help put India on the global shipbuilding map," Kaushik added. Maritime fund Existing initiatives to boost shipping include a ₹25,000 crore maritime development fund to raise investment in shipbuilding through blended finance and the development of mega shipbuilding parks on both coasts. The new complementary missions will cover ship repair, recycling, cruise infrastructure, financing, staffing, and insurance. Ship repair hubs are also being planned in Kochi, Mumbai, Chennai, Kolkata, and Vadinar, besides a centre of excellence and free trade depot for duty-free imports. India has also launched the Indian International Maritime Dispute Resolution Centre (IIMDRC) to localize arbitration and reduce reliance on global hubs like Singapore and Dubai. And read | Govt to hold talks with exporters as Iran-Israel conflict stalls shipments, drives up costs Meanwhile, a domestic maritime insurance entity, the India Club, is under consideration to offer protection and indemnity (P&I) insurance for coastal and inland shipping. Mega ports at Vadhavan in Maharashtra and Galathea Bay in Great Nicobar are also central to the plan, aiming to boost port capacity, attract transhipment cargo, and create over 1.2 million jobs.
Time of India
10 minutes ago
- Time of India
'I have plan for everything': Trump doesn't confirm strike on Iran; but leaves options open
AP photo US president Donald Trump has once again left his position open-ended on whether the United States will take military action against Iran amid the worsening conflict with Israel. Speaking from Washington, Trump said he has 'a plan for everything' but refused to share details, adding that 'anything could happen.' "I have a plan for everything, but we will see what happens. They should have made the deal. I had a great deal for them. We talked about it for 60 days, and in the end, they decided not to do it, and now they wish they had," Trump said. The president said he may meet Iranian officials but claimed it's 'too late' for talks. 'They should have taken the deal. We spoke for 60 days. They backed out, and now they wish they hadn't,' he told reporters. Trump claimed the Iranians now want to come to the White House, but said, 'I may do that... anything could happen.' Speaking about the current situation, Trump added, 'I have a meeting in the war room shortly. We are in the middle of something terrible. I hate to see so much death and destruction. . I have ideas as to what I could do, but they are not final. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like See Your Home's Worth Instantly Home Value Free Calculator | Search Ads Learn More Undo I like to finalise one second before it's due. Things change. Especially with war..."' Earlier, when asked if he would order a strike on Iran, he replied, 'I may do it, I may not do it. Nobody knows what I'm going to do.' Trump left the G7 summit in Canada late Monday ahead of schedule and flew back to the US to focus on the situation. Meanwhile, Iran's capital Tehran has been hit by three waves of Israeli airstrikes. Israel claims its jets now have control over Tehran's airspace. While Iran has fired back with limited missile attacks. The impact on civilians in Iran is severe. Tehran's streets remain deserted, most businesses are shut, and phone and internet services are disrupted. Thousands have left the city fearing further strikes.
The Hindu
14 minutes ago
- The Hindu
Putin says NATO rearmament not a 'threat' to Russia
Russian President Vladimir Putin said Thursday (June 19, 2025) that NATO's push to ramp up defence spending was not a 'threat' to Russia, days before the alliance was set to sign-off on a plan to boost its military capacity across Europe. In a late-night press conference, the Russian leader also said his troops would not stop pushing forward in Ukraine and sought to undermine his Ukrainian counterpart Volodymyr Zelenskyy. The Western military alliance will hold a crucial summit in The Hague next week to discuss increasing defence spending to five percent of GDP, under pressure from U.S. President Donald Trump. Mr. Putin has cast his offensive in Ukraine as part of a wider conflict between Russia and U.S.-led NATO, which has been Ukraine's staunchest backer since Russia launched its offensive in February 2022. 'We do not consider any rearmament by NATO to be a threat to the Russian Federation, because we are self-sufficient in terms of ensuring our own security,' Mr. Putin said at a televised press conference in Saint Petersburg. Russia is 'constantly modernising our armed forces and defensive capabilities,' Mr. Putin said, adding that it made 'no sense' for NATO to spend more money on arms. Though he conceded higher spending by NATO would create some 'specific' challenges for Russia, he brushed them off. 'We will counter all threats that arise. There is no doubt about that,' Mr. Putin added. Kyiv is seeking security guarantees from NATO as part of any deal to end the fighting, more than three years after Russia ordered its full-scale military offensive. Zelenskyy meeting? Moscow has shown little willingness to back down, with Mr. Putin saying Thursday (June 19, 2025) that Russia had the 'strategic advantage' on the battlefield. 'Our troops are advancing along the entire line of contact. Every day, more or less, but every day they go forward. And the advance will continue,' he said. Mr. Putin also sought to justify his three-year campaign against Ukraine, questioned Mr. Zelenskyy's legitimacy and dismissed civilian deaths from Russia's daily aerial attacks. He said he was ready to meet with his Ukrainian counterpart, but only during a 'final phase' of negotiations on ending the three-year conflict. He also suggested Mr. Zelenskyy had no right to sign a peace agreement given his five-year mandate had expired, a notion Kyiv has dismissed as baseless propaganda. 'We need to find a solution that would not only put an end to the current conflict, but also create conditions that would prevent similar situations from recurring in the long term,' Mr. Putin said. 'I am ready to meet with everyone, including Mr. Zelenskyy. That is not the issue – if the Ukrainian state trusts someone in particular to conduct negotiations, for God's sake, it can be Mr. Zelenskyy,' the Russian leader said. 'We don't care who negotiates, even if it is the current head of the regime,' Mr. Putin said. But he added that this would only happen at a 'final phase, so as not to sit there and divide things up endlessly, but to put an end to it.' Mr. Putin has rejected Mr. Zelenskyy's calls for a face-to-face meeting to agree a peace deal. Moscow has also rejected proposals for a full and unconditional ceasefire and outlined a raft of hardline peace demands – including that Kyiv cede more territory and renounce Western military support. Kyiv has dismissed them as 'ultimatums' and accused Moscow of deliberately sabotaging peace efforts to prolong the conflict. Russia has escalated its aerial attacks on Ukraine amid the stalled talks. Russian strikes on the Ukrainian capital killed at least 28 people on Wednesday (June 19, 2025), Kyiv said. Despite widespread evidence of massive civilian deaths amid the campaign and the destruction of apartments, schools, hospitals and other sites, Mr. Putin on Thursday (June 19, 2025) claimed that his forces did not target civilian areas. Hours earlier, AFP journalists in Kyiv had watched rescuers carry body bags with victims out of a destroyed apartment block across piles of debris.
