Latest news with #IsraelIran
South China Morning Post
4 days ago
- Business
- South China Morning Post
As Typhoon Trump wreaks havoc, is there a way to escape the storm?
As the typhoon that is US President Donald Trump sweeps over trading partners and foes alike, even as stock markets are hitting record highs , there is an eerie feeling of being trapped inside the eye of the hurricane with no guidance on what to do and where to go. There is misinformation everywhere. It seems as though there is no objective, independent verification of the real level of casualties and devastation in the wars in Ukraine and Gaza. Neither is it clear Trump can deliver peace in Ukraine when he meets Russian President Vladimir Putin or rein in Israel-Iran tensions before they become nuclear. Reality today is stranger than even the most speculative science fiction. Who would have predicted a month ago that Trump would impose 50 per cent tariffs on India, or unlisted start-up Perplexity AI – which has an estimated valuation of US$18 billion – would bid US$34.5 billion to buy the Chrome browser from Google, which has a market cap valuation of US$2.4 trillion? Lions are trying to swallow elephants, as also seen in the United States now taking on both China and India. From the perspective of financial markets , the US does appear to be on a roll. Recent estimates indicate that the nearly 5,500 companies listed in the US have a market valuation of more than US$81 trillion – almost 280 per cent of the 2024 US gross domestic product – with rising revenue of nearly US$30 trillion. The Magnificent Seven tech companies alone have a market capitalisation of nearly US$20 trillion, or just under one quarter of the total market cap. At the same time, they have revenue of more than US$2 trillion, or 7 per cent of total US listed corporate revenue. The US economy is proving more resilient than expected. This is despite real interest rates for 10-year US Treasuries standing at 1.17 per cent after being 2 per cent as late as February this year. Small wonder that US Treasury Secretary Scott Bessent has called for upwards of 175 basis points in cuts to interest rates as the US federal debt of US$37 trillion is already paying US$1 trillion a year in interest rate charges.
The National
07-08-2025
- Politics
- The National
Trump uses Iran strikes to push for more Middle East states to join Abraham Accords
US President Donald Trump on Thursday urged more countries in the Middle East to join the Abraham Accords, highlighting the destruction of Iran's nuclear infrastructure in recent American attacks. "Now that the nuclear arsenal being 'created' by Iran has been totally obliterated, it is very important to me that all Middle Eastern countries join the Abraham Accords," Mr Trump wrote on his Truth Social platform. "This will ensure peace in the Middle East." In 2020, during Mr Trump's first term, the UAE, Bahrain, Sudan and Morocco signed the accords, establishing relations with Israel. Mr Trump has repeatedly expressed a desire for more countries to join the accords, and Reuters reported that the Trump administration is working to have Azerbaijan and Central Asian countries sign. Mr Trump has said previously that he would like Iran to sign the accords, saying during his presidential campaign last year that Tehran would have joined had he been re-elected after his first term. But this possibility became even more remote when the US carried out a series of strikes on sites linked to Iran's nuclear programme amid the Israel-Iran air war. The Trump administration has frequently said Iran is the main driver of instability in the Middle East, and Mr Trump probably views the US strikes as having removed the final obstacle to peace in the region. Still, it is a curious strategy to highlight the destruction of Iran's nuclear capabilities in urging Middle East countries to sign the accords, as fears over the expansion of Tehran's influence has historically served as a unifier for Israel and many Arab states. In addition to its nuclear programme, which many view as a means to develop a nuclear weapon, Iran also funds and trains various proxy groups throughout the Middle East, including Hezbollah in Lebanon and the Houthi rebels in Yemen. But with the US having "obliterated" Iran's nuclear programme, and with proxy groups on the back foot after conflicts with Israel and US bombing campaigns, countering Tehran does not appear to have the same unifying power it once did. Iran has also been making diplomatic inroads with several of its Arab neighbours over the past few years. Saudi Arabia reopened its embassy in Tehran in 2023, and Iranian Foreign Minister Abbas Araghchi carried out a tour of the Gulf earlier this year, visiting the UAE, Saudi Arabia, Qatar and Oman in May. This was derailed when Iran launched a retaliatory attack on a US base in Qatar following the strikes on its nuclear sites. The attack resulted in limited damage and no casualties, but regional leaders condemned the action, as it showed that their countries would be the ones to suffer in any US-Iran conflict. Despite Iran no longer being an obstacle to Middle East stability, Mr Trump may soon find that the multi-front Gaza war to be the thing hindering regional states from establishing relations with Israel. Saudi Arabia, for example, has said it will not establish relations with Israel without a concrete path towards the creation of a Palestinian state. During his May trip to Saudi Arabia, Mr Trump said he hoped the kingdom would join "in your own time". The US has been heavily involved in peace talks, but negotiations have stalled and Israeli Prime Minister Benjamin Netanyahu announced plans on Thursday to push half of the population of Gaza to the south of the territory as part of a new campaign to fully reoccupy the enclave.
The National
11-07-2025
- Politics
- The National
Israeli strike near Gaza health clinic kills 17, including eight children
Netanyahu says hostage deal could be completed in few days Gaza receives first delivery of fuel in 130 days Israel will strike Iran again if threatened, defence minister says Houthi leader says group won't permit sea passage of goods related to Israel UNRWA review warns Palestinian aid group could collapse At least 57,762 Palestinians killed and 137,656 wounded since Gaza war began
Free Malaysia Today
07-07-2025
- Business
- Free Malaysia Today
Australia's PM says he expects 10% US baseline tariff to stay
Anthony Albanese's government continued to seek a meeting with Donald Trump after planned G7 talks were cancelled over his Israel-Iran-related exit. (EPA Images pic) SYDNEY : Australia will likely still be subjected to the 10% tariff rate on all exports to US but the government will continue to try and negotiate for an exemption, Australian Prime Minister Anthony Albanese said on Friday. A 90-day pause in the US 'reciprocal' tariffs are set to expire early next week, with President Donald Trump threatening to send letters to countries laying out the tariff rates they will face on US imports. When asked if Australia will stay on the 10% baseline tariff rate after July 9 during an event in Sydney, Albanese said, 'I assume that will be the case.' The US tariff deadline of July 9 is not expected to affect Australia, he added. 'We are in a position where on July 9 that won't really have an impact on us because that's about other countries who have higher rates,' said Albanese. 'No country has a better tariff level than 10%. Now we will continue to put our case as we do.' Albanese's scheduled meeting with Trump on the sidelines of the G7 was cancelled last month when Trump left the summit early due to tensions between Israel and Iran. The government is still trying to get a meeting with Trump, and Albanese said on Friday there would be many opportunities to meet at various forums between now and the end of the year.
Asharq Al-Awsat
30-06-2025
- Business
- Asharq Al-Awsat
US State Dept OKs Sale of $510 Million in Munitions Guidance Kits and Support for Israel
The US State Department has approved the potential sale of Munitions Guidance Kits and Munitions Support and related equipment to Israel for an estimated $510 million, the Pentagon said on Monday. The approval for the potential sale - for which Boeing is the principal contractor - comes a week after President Donald Trump announced a ceasefire between Israel and Iran after 12 days of fighting between the two Middle Eastern rivals.
