Latest News from Al Khaleej
Forbes
7 minutes ago
- Business
- Forbes
Elon Musk Says His Stint As 'Special Government Employee' Has Ended
Elon Musk announced on Wednesday night that his stint as a 'special government employee' heading the Department of Government Efficiency (DOGE) has come to an end, a month after the Tesla CEO informed the company's shareholders that he would be cutting back on his work with the federal government and 'allocating far more' time to running the car marker. In a post on X, Musk said: 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President Donald Trump for the opportunity to reduce wasteful spending.' The billionaire claimed the agency's mission would 'only strengthen over time as it becomes a way of life throughout the government.' After taking office Trump signed an executive order to establish DOGE, and Musk was brought on as a 'special government employee' to serve as the cost-cutting agency's de facto head. Special government employees are allowed to serve no longer than 130 days, which means Musk's term would officially end on Thursday if he were appointed on Trump's inauguration day. While announcing his plan to scale back his involvement in the federal government last month, Musk had told Tesla's investors that he could 'continue to spend a day or two per week on government matters for as long as the President would like me to do so.' It is unclear if that still remains the plan, especially after Musk has come out and criticized the president's signature policy agenda, which was passed by the House last week.
Asia Times
7 minutes ago
- Business
- Asia Times
How SE Asia can break China's rare earth monopoly
Last week, Australia's Lynas Rare Earths produced heavy rare earth elements (HREEs) at a commercial scale in Malaysia, marking the first time this has ever happened outside of China. This breakthrough, which includes elements like dysprosium and terbium, is no small feat in a market dominated by China, which is responsible for around 60% of global rare earth production and virtually 100% of the world's HREE supply. Rare earth elements (REEs) are critical for the US and other advanced economies: they power technologies from electric vehicles to defense systems. The US Department of Defense, for instance, has identified HREEs as vital for missile systems, radar and advanced communications. Yet, the US itself produces only about 12% of global REEs—and almost none of the heavy types. Without secure access to these materials, Western industries risk supply chain disruptions that could slow the clean energy transition and compromise national security. It is for these reasons that the US recently signed an agreement with Ukraine to secure preferential access to its mineral resources—including, notably, REEs—in exchange for establishing a Ukraine reconstruction fund, as well as certain payback for the estimated US$150 billion the US has provided Ukraine since the war started. However, a significant portion of Ukraine's known REE reserves lies in the Donetsk region, which remains under Russian control, highlighting the fragility of relying on politically contested sources. In this context, Lynas' progress is not just a technical achievement but a geopolitical shift. It positions not only Malaysia, but also Southeast Asia, as a key hotspot for the future of sourcing REEs. Until recently, there were few incentives to produce REEs in the region. But market shifts, the strategic push for supply chain diversification and the growing capacity of Southeast Asian countries to process REEs domestically promise to unlock vast potential. Vietnam, in particular, holds some of the world's largest REE reserves—estimated at around 3.5 million tonnes (with some sources suggesting as much as 20 million tonnes), nearly twice the size of US reserves. Yet its production today is negligible, representing less than 1% of global output. Major deposits in the country's northwest, such as Dong Pao and Nam Xe, remain largely untapped, while significant areas across the country are still unexplored. Still, Southeast Asia's potential REE suppliers face substantial challenges: (1) environmental concerns, notably the management of radioactive byproducts like thorium; (2) a lack of technical expertise and processing infrastructure, with China still controlling key separation technologies; and (3) market and geopolitical pressures, as these countries navigate a landscape dominated by Chinese pricing power, potential retaliation and complex export dynamics. If Southeast Asia—especially Vietnam and Malaysia—can overcome these challenges, the region could emerge as a critical node in global REE supply chains, offering the US, Europe, Japan and others an alternative to China's near-monopoly. However, this will require more than favorable geology; it demands investment in refining capacity, strict environmental standards, and strategic partnerships that ensure technology transfer and long-term market access. For the West, the stakes are clear: support Southeast Asia's rare earth ambitions—or remain perilously dependent on a single Chinese supplier. Patricio Faúndez is country manager at GEM Mining Consulting
Indian Express
8 minutes ago
- Business
- Indian Express
US court curbs Trump's tariff power: How it eases pressure on India
Weeks before India and the US were due to sign an interim trade deal to meet the July 8 deadline for reciprocal tariffs, the US Court of International Trade on Wednesday ruled that President Donald Trump does not have the authority to regulate imports into the US through tariffs under the International Emergency Economic Powers Act (IEEPA). 'The court holds, for the foregoing reasons, that IEEPA does not authorise any of the Worldwide, Retaliatory, or Trafficking Tariff Orders. The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The Trafficking Tariffs fail because they do not deal with the threats set forth in those orders,' the court stated. Notably, the ruling does not affect tariffs issued by the Trump administration under separate legal provisions, including 25 per cent duty on steel, aluminum and automotive parts where India exporters will continue to face higher tariffs. The New York Times reported White House spokesman, Kush Desai, stating that : 'It is not for unelected judges to decide how to properly address a national emergency,' and that Trump would use 'every lever of executive power to address this crisis.' Trump had announced 26 per cent reciprocal tariffs on India and pushed for the opening up of politically sensitive sectors, such as agriculture, during the ongoing trade deal negotiations. However, with the court order casting doubt on Trump's ability to impose unilateral tariffs, India may no longer need to negotiate under the pressure of reciprocal tariffs. A section of officials in the Ministry of Commerce and Industry had expressed concerns about India's willingness to open up most sectors in order to avoid reciprocal tariffs. New Delhi had already announced several duty cuts—such as on bourbon whiskey and motorbikes—during the Union Budget presentation. The pressure to sign a trade agreement with the US was high as India has agreed to a terms of reference (ToR) that will kickstart trade deal negotiations just before the implementation of reciprocal tariffs on April 2, The Indian Express had reported. Experts said that with concessions on reciprocal tariffs no longer on the table, India can now seek better market access for its goods from the US under the trade deal, and may also recalibrate its stance on sensitive issues such as data localisation to address domestic concerns. While Trump had been pushing India to liberalise the movement of data and provide better access for Big Tech companies, a 2018 United Nations Conference on Trade and Development (UNCTAD) report, Power, Platforms, and the Free Trade Delusion, highlighted that access to and control over data has long been a source of 'market power' and can create barriers to entry for new players. A Standing Committee on Finance report (2022–23) concerning anti-competitive practices by Big Tech firms also observed that Google Play, as the dominant source for downloading apps on Android, mandates the use of its payment system for paid apps and in-app purchases. 'It appears that Google controls a significant volume of payments processed in this market,' the report stated. The report also said that Google unfairly privileges Google Pay by prominently placing it on the Play Store, Android operating system, and Android-based smartphones, while skewing search results on the Play Store in favour of its payment app. The Competition Commission of India (CCI), in a preliminary order, observed that manipulating such features could act as a potent tool to divert traffic to Google's app, thereby undermining 'competition on the merits'. According to the United States Trade Representative's (USTR's) Report on Foreign Trade Barriers, the US continues to encourage India to adopt an 'open skies' satellite policy to allow consumers the flexibility to select the satellite capacity provider that best suits their business requirements. This comes as DOGE chief Elon Musk, a close confidant of President Donald Trump, is a promoter of the Starlink satellite communication service. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Associated Press
8 minutes ago
- Business
- Associated Press
Quakes extend LA Galaxy's MLS record season-opening winless streak to 16 games with 1-0 victory
CARSON, Calif. (AP) — Substitute Ousseni Bouda scored in the 74th minute, and the San Jose Earthquakes extended the LA Galaxy's MLS record season-opening winless streak to 16 games with a 1-0 victory Wednesday night. Bouda slipped between two defenders and got his third goal of the season on a precise pass from fellow substitute Preston Judd for the Quakes, who snapped a four-game losing streak in the California Clasico rivalry. The defending MLS Cup champion Galaxy (0-12-4) are edging toward historic ignominy after dropping yet another match at the stadium where they went unbeaten in 2024 and won their league-record sixth title in December. The MLS record is 19 straight winless matches in league play by the MetroStars in 1999. Real Salt Lake also played 18 straight without a win from 2005-06. Earl Edwards Jr. made six saves to keep his third clean sheet of the season for San Jose, which is unbeaten in eight matches across all competitions in May. Quakes head coach Bruce Arena had a successful return to the stadium where he led the Galaxy for nine seasons and won three MLS Cup championships. The Galaxy nearly salvaged a draw in the final minute of second-half injury time, but Edwards saved captain Maya Yoshida's header deep in the San Jose box. Supporters chanted 'We want better!' after the final whistle. The Galaxy's woes have only compounded throughout the new season despite the return to health of stars Joseph Paintsil, Gabriel Pec and Marco Reus. All three international veterans played major roles on last year's championship team, but were limited by injury in the new year. Reus left in the 59th minute against San Jose after sitting down on the grass without contact and eventually walking off the field. Reus struggled with a knee injury earlier in the season, but had been playing well in recent matches. Disorganized in attack and lacking any crispness in their passing, the Galaxy still look lost without Catalan midfielder Riqui Puig, who orchestrated their excellence throughout the 2024 season before tearing a knee ligament in the conference final. Puig could return this summer, but LA also had to part with a handful of key contributors to last season's team due to the salary cap constraints created annually for the MLS champion by title bonuses in their players' contracts. The Galaxy's leadership has declined to panic during this mammoth skid, even extending the contract of head coach Greg Vanney two weeks ago when the winless streak was at a mere 13 games. LA's Novak Micovic had to make two diving saves in the first two minutes of play, and he finished with four saves in the scoreless first half. San Jose's Ian Harkes hit the crossbar from long range in the 22nd minute. The Galaxy host Salt Lake on Saturday night. If they don't beat Salt Lake or win at St. Louis on June 14, they could tie the MetroStars' record June 25 at Colorado. ___ AP soccer:
Hindustan Times
8 minutes ago
- Health
- Hindustan Times
Skittles removes titanium dioxide from their products in US shortly after RFK Jr targeted the additive. What to know
Skittles will no longer be made with titanium dioxide, it has been revealed. A spokesperson for Mars Wrigley, which owns Skittles, confirmed to Fox News Digital that titanium dioxide has been removed from the company's Skittles portfolio in the United States. According to Healthline, 'titanium dioxide is a whitening ingredient in foods, cosmetics, and other products. The FDA considers it safe, but high intake could be harmful.' The change in Skittles comes shortly after the controversial additive was targeted by Robert F. Kennedy Jr. The Make America Healthy Again Commission, chaired by U.S. Health and Human Services Secretary RFK Jr, released a report last week that assessed chronic diseases, particularly those that affected children. It stated that the additive is "widely used in a range of candies and sauces [and] may cause cellular and DNA damage." "Our commitment to quality is what has enabled Mars to be enjoyed by consumers for over a century, and nothing is more important than the safety of our products," the Mars Wrigley spokesperson said. "All our products are safe to enjoy and meet the high standards and applicable regulations set by food safety authorities around the world, and that's something we will never compromise on." Following a search of the U.S. Food & Drug Administration's (FDA) FoodData Central website, it was found that 4,362 candies contain titanium dioxide. Back in 2022, the additive was banned by the European Union after a report by the European Food Safety Authority (EFSA) pointed to genotoxicity. "Genotoxicity refers to the ability of a chemical substance to damage DNA, the genetic material of cells," the EFSA report said. In fact, experimental animal inhalation studies carried out by the National Institute for Occupational Safety and Health using the additive found that the substance was a "possible carcinogenic to humans."
