Latest news with #politicaluncertainty
Bloomberg
6 days ago
- Business
- Bloomberg
Trader Spends $755 Million to Bet on More Gains in Korean Stocks
A trader spent around $755 million in options betting South Korea's stock rally has more to go after this week's election ended months of political uncertainty. An opening block of more than 11,000 bullish contracts on the benchmark Kospi 200 Index changed hands in late trading Wednesday for more than 1 trillion won in notional. The calls, expiring July 10, have an exercise level of 385, implying a 4.1% gain from the last close.
Free Malaysia Today
03-06-2025
- Business
- Free Malaysia Today
Amirudin dismisses talk he's set to vacate state seat for Tengku Zafrul
Selangor menteri besar Amirudin Shari said the 'Kajang Move' in 2014 had triggered political uncertainty in Selangor although the then state government had a solid majority. (Bernama pic) PETALING JAYA : Selangor menteri besar Amirudin Shari has denied speculation that he is set to vacate his Sungai Tua state seat to make way for Tengku Zafrul Aziz to contest in the ensuing by-election, representing PKR. Amirudin said this was just empty talk based on the 'wild imagination' of certain individuals who were seeking to spread that narrative via social media, Sinar Harian reported. The PKR vice-president also said he did not want to see a repeat of the 'Kajang Move' in 2014, which culminated in the late Abdul Khalid Ibrahim resigning as the then Selangor menteri besar. The 'Kajang Move' refers to PKR's plan in 2014 to trigger a by-election in the Kajang state seat to install Anwar Ibrahim as the next Selangor menteri besar to replace Khalid, who was seen as going against party policies. The move fizzled out after Anwar's conviction in his sodomy case was upheld by the Court of Appeal, and eventually led to Azmin Ali being appointed menteri besar. Amirudin said that episode had triggered political uncertainty in Selangor although Khalid's state government initially had a solid majority in the legislative assembly. 'I don't think (I will vacate the seat). I want to complete my term (as menteri besar) in full and ensure harmony because there are a lot of things that we need to settle. 'This (speculation) doesn't need to be prolonged. (PKR's) focus is on aligning our leadership and the issues related to the cohesion of the federal and state governments, as well as the upcoming Sabah election,' he said. Tengku Zafrul, the investment, trade and industry minister, had quit Umno last week and expressed his intention to join PKR. There has been speculation over his fate as minister as his final term as senator expires at the end of the year. Also, there is public expectation of a Cabinet reshuffle as Rafizi Ramli and Nik Nazmi Nik Ahmad have quit their ministerial posts. In a Facebook video yesterday, former Umno leader Isham Jalil claimed that Amirudin would be ordered to vacate his Sungai Tua seat to allow Tengku Zafrul to contest in the by-election. Winning the by-election could then allow Tengku Zafrul to take over as menteri besar, as speculated previously, while Amirudin could join Anwar's Cabinet as he is also the Gombak MP at present.
Irish Times
01-06-2025
- General
- Irish Times
Poland heading for political uncertainty after presidential election run-off
Poland is heading for a period of political uncertainty after Sunday's presidential run-off ended in a photo finish. Early projections suggested a gap of just 70,000 votes with a record turnout of nearly 73 per cent among Poland's 29 million registered voters. Pro- EU candidate Rafal Trzaskowski, backed by the ruling government of Donald Tusk , had the narrowest of leads after polls closed, with 50.3 per cent. Just 0.6 points behind him in the same TVP public broadcaster exit poll was Karol Nawrocki, backed by the opposition national conservative Law and Justice (PiS) party, polling 49.7 per cent. READ MORE A separate exit poll for private broadcaster TVN put the gap at just 0.3 points. With a margin of error in both polls of 2 per cent, the initial result was too close to call. Despite that, the government-backed Trzaskowski appeared minutes after polls closed to claim: 'We won, we did everything that could be done.' 'I will be the president of all Poles — of all Polish women and men,' he added. There was no hint of concession over in the rival camp, however, with Karol Nawrocki promising eventual victory to supporters who cheered 'President Narwocki Nawrocki' and 'We won'. 'This night will be ours yet,' he said. 'We managed to unite the patriotic camp in Poland, the camp of people who want a normal Poland without illegal immigrants.' Analysts say the final result, not likely until Monday, is likely to be decided by the non-resident vote – and possibly face challenge in the courts from the loser. In the first round, two weeks ago, Trzaskowski was shocked to finish just two points ahead – but took comfort from scoring six points higher among non-resident voters than his overall result. Meanwhile Nawrocki's popularity among the US Polish diaspora was 12 points above his final result, after he was endorsed by President Donald Trump during a White House visit. While Polish prime minister Donald Tusk remained silent on Sunday night, Nawrocki's leading backer, PiS leader Jaroslaw Kaczynski, praised his candidate for prevailing against a 'Niagara of lies' from rivals and the media. 'We have won because we are right,' he said, 'because we speak the truth about Poland, about its future, about its present and about all that's wrong in our country today.' Former president Bronislaw Komorowski compared the result to his win in 2010 with a five-point lead. 'Based on exit polls I had a guaranteed win, overnight the numbers changed several times but eventually I won,' he said. The vote reflects deep divisions in this country of almost 38 million and reflects the challenges ahead for Donald Tusk. The centrist-liberal pro-EU prime minister returned to power in December 2023 with a mandate to roll back PiS polices, from illegal court reforms to a near-ban on abortion. But the outgoing, PiS-allied outgoing president Andrzej Duda proved a strong adversary, vetoing key government legislation. Complicating Tusk's political day-to-day still further is his unwieldy coalition, including farmers and urban liberals, who have clashed over policies such as abortion liberalisation. Another term with a PiS-alled president, Tusk knows, would be a political disaster: hobbling his national legislative ambition, complicating EU relations and making a snap election likely. The tight result on Sunday revived doubts – and finger-pointing over Rafal Trzaskowski's suitability as a candidate, five years after his first failed attempt to take the presidency. Back then he ran as an opposition candidate, tapping into growing unhappiness with the then PiS government and its presidential incumbent. This time around he became a focus for voters frustrated with the Tusk administration. The 53-year-old Trzaskowski cut his political teeth as a teenage volunteer in Poland's first partially-free elections in 1989. As a multilingual political professional with a pro-EU and LGBT-supportive agenda, he was the perfect big-city liberal for PiS scare campaigns about shadowy elites in their rural, conservative heartland. Even among his own supporters in Warsaw, where Trzaskowski has served as mayor for seven years, he has a mixed reputation. One senior political ally accused Trzaskowski last night of running a 'lazy, arrogant campaign' with confused and contradictory messaging. At a mass rally in Warsaw a week ago Trzaskowski made his final pitch to voters as 'a president who unites, who is ready to talk to everyone'. But first-round analysis showed how his promises to push for an end to what he called Poland's 'medieval' abortion laws, and to introduce same-sex civil partnerships, put him beyond the pale for more conservative Poles in eastern and south-eastern regions. Here Karol Narowcki, a conservative historian and former amateur boxer, was by far the most popular candidate, presenting himself as the anti-elist defender of Polish identity and national interests. His campaign was hit by a series of scandals, over an undeclared second home and involvement in street fights, as well as allegations he denied about links to the Polish underworld and red-light scene.
Asharq Al-Awsat
26-05-2025
- Politics
- Asharq Al-Awsat
Protests Grip Bangladesh as Pressure Mounts on Yunus-led Government
Primary school teachers in Bangladesh joined public sector workers in protests against the interim government on Monday amid growing discontent and political uncertainty in the South Asian country. Nobel peace laureate Muhammad Yunus, 84, took over as interim head of the country of 173 million last August after deadly student-led protests forced then Prime Minister Sheikh Hasina to flee to India, Reuters said. Yunus' administration has faced pressure from civil servants, teachers, political parties and the military as the caretaker government attempts to guide the country through a fragile transition before holding a general election. The government issued an ordinance on Sunday allowing the Ministry of Public Administration to dismiss public servants for misconduct without lengthy procedures, sparking outrage across the bureaucracy. Government employees continued their demonstrations for a third consecutive day on Monday, calling the ordinance "repressive" and demanding its immediate withdrawal. Thousands of teachers in government primary schools also began indefinite leave from work on Monday, demanding a hike in wages. In the face of protests by the employees of National Board of Revenue, the interim government was forced on Sunday to withdraw an order to dissolve the tax body and replace it with two divisions under the finance ministry. The strike was then called off. Political uncertainty also deepened last week after a top student leader said Yunus said he could step down if political parties cannot agree on reforms and an election timeline. Wahiduddin Mahmud, the planning adviser in Yunus' cabinet, however, said the de-facto prime minister was not quitting. "We are not going anywhere till our job is done," Mahmud said during the weekend, adding that Yunus acknowledged the obstacles but remained committed to holding a fair election. The interim government has been caught between competing demands for swift general elections and reforms. Yunus has said the elections could be held by June, 2026 while the Bangladesh Nationalist Party (BNP), led by former Prime Minister Khaleda Zia, has been pushing for polls by December. Bangladesh's army chief, General Waker-Uz-Zaman, added to the pressure by calling for elections to be held in December during a speech last week, expressing his dissatisfaction over the political situation. Yunus convened a last-minute meeting of his Advisory Council on Saturday and also held talks during the weekend with the country's main political forces, including the BNP, Jamaat-e-Islami, and the student-led National Citizen Party. Leaders of other political parties also met Yunus. "We are in a war-like situation," Yunus' press secretary Shafiqul Alam told reporters on Sunday. "After the Awami League's activities were banned, attempts are on to destabilize us in various ways. We have to get out of this situation." The registration of Hasina's Awami League party was suspended this month, effectively barring the party from contesting the next election.
Zawya
07-05-2025
- Business
- Zawya
How US tariffs on South Africa are reshaping small business strategies?
This month, Miguel da Silva, group executive: business banking at TymeBank, looks at the very real costs and implications of an unpredictable political landscape for SMEs. International trade is increasingly volatile Speaking of uncertainty, South African SMEs, like their counterparts across the globe, are waiting to see how the international-trade cards lie after US President Donald Trump upended the table on 2 April. Recently released trade data for March showed SA's balance of trade sitting at roughly R24bn, somewhat lower than the consensus estimate of R35bn. Of course that doesn't take into account the spiralling effects of the so-called Liberation Day in the US. With most tariffs currently paused, trade delegations are trying to simultaneously mend relationships with the US and establish new markets that aren't subject to the same volatility. There will be pain for certain sectors in particular – the reinstatement of Trump's 30% tariff on SA would fall in the peak of citrus season, and if Trump's intention is truly to revive US manufacturing, it doesn't bode well for SA's automotive sector. However, opportunities will also present themselves as the rest of the world looks for better deals elsewhere. For smaller businesses in the export chain, this uncertainty might prompt a focus on building cash reserves, more flexible supplier arrangements, and conversations with foreign buyers to prepare for all eventualities. Government launches Spaza Shops Support Fund The Department of Small Business Development has found R500m to launch the Spaza Shop Support Fund (SSSF). Government aims to help the township and rural retail sectors become more formalised and financially included, and to 'realise the potential of spaza shops to serve as a market for locally manufactured goods'. The former means that individual spaza shops will get up to R50,000 through a combination of training support and a blended loan, and the latter that the SSSF will facilitate a group-buying system, helping shops to access bulk markets. This is an understandably popular opportunity for spaza shop owners feeling pressure from retail chains, which was loudly illustrated when the launch event was nearly derailed when attendance far exceeded expectations. SA tourism grows year-on-year International tourism is changing. Visits to the United States fell approximately 14% in March 2025 compared to the same period last year. International visitors to SA increased by 10% in the same period. Overseas visits increased from France, the Netherlands, Australia, and Russia (by nearly a third). Most international tourists in the country – 71.5% – are from SADC countries. Are we picking up some of the US's slack? Are safety and load shedding fears easing in the minds of prospective travellers? Either way, the steady resurgence is a lifeline for SMEs in an industry still recovering from the Covid shock. Business sentiment is improving The South African Chamber of Commerce and Industry (Sacci) released its composite Business Confidence Index (BCI) on 16 April, highlighting a positive trend over the past 12 months. The BCI climbed from a low of 107.8 in May 2024 (while all eyes were on the elections) to a record level of 125.8 in February 2025. Sacci gauges the improvements to be due to increased tourism and exports, and lower inflation (and the absence of load shedding certainly played a role). Sacci also noted that a weaker rand and poor earnings for JSE-listed companies continued to have a depressive effect. That said, rising business confidence reflects a relative calm amongst the business community, despite mounting uncertainties. Let's hope it's reflected in GDP growth figures – as former US Treasury Secretary Larry Summers said, 'confidence is the cheapest stimulus.' Reserve Bank faces tight window for interest rate cuts South Africa's headline inflation fell to a four-year low of 2.7% in March, down from 3.2% in February and below economists' forecasts. Despite this positive news, the Reserve Bank's opportunity to cut interest rates appears to be narrowing throughout 2025. The Bank's Monetary Policy Committee have made it clear that they're not only watching local inflation but also keeping a close eye on global events, even hinting at possible rate hikes if global uncertainty increases and impacts the rand further. Adding to this complexity, the bank appears to believe that South Africa's low economic growth stems not primarily from high interest rates, but from structural economic constraints. This suggests that more aggressive rate cuts would do little to boost growth without significant economic reforms. SMEs should prepare for a cautious approach from the Reserve Bank in the coming months, with the possibility of fewer rate cuts than initially hoped for in 2025. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
