WHITE HOUSE NATIONAL ECONOMIC COUNCIL
Singapore prepared to recognise Palestine in principle at appropriate time, says foreign minister
"Both sides have legitimate rights, and both peoples have a right to live in peace and dignity within secure borders," The Straits Times quoted the Singapore minister as saying. He was responding to questions from parliamentarians on Singapore's May 10 decision to vote for a United Nations resolution backing the admission of Palestine as a member of the world body, which it said was made after "serious and careful consideration".
Joe Biden makes appeals to donors as concerns persist over his presidential debate performance
In the wake of a challenging debate performance, President Joe Biden reassured donors at a New Jersey fundraiser that he's prepared to fight harder against Donald Trump, whom he described as a threat to democracy. Despite criticism from the media and concerns among Democrats, Biden emphasized his commitment to his campaign. He highlighted the importance of comparing presidencies over debate performances and criticized Trump's record. Biden's campaign raised over $27 million, underscoring support despite the debate backlash. The president remains focused on his reelection, bolstered by his wife Jill's encouragement.
Suspected Houthi attack targets a ship in the Gulf of Aden, while Iraqi-claimed attack targets Eilat
Early Wednesday, a suspected missile attack by Yemen's Houthi rebels targeted a ship in the Gulf of Aden. Concurrently, an Iraqi militant group allied with the Houthis claimed responsibility for a drone attack on the southern Israeli port city of Eilat. These incidents mark an ongoing escalation linked to the Israel-Hamas conflict in Gaza, as well as tensions involving Yemen's internal politics.
"G7 political tool to perpetuate US, Western supremacy": China
China has criticized the G7 Leaders' Communique, accusing the group of using China-related issues to attack and vilify the nation. The Chinese Foreign Ministry Spokesperson denounced the G7's statements as baseless and biased, reflecting a continued effort to maintain US and Western dominance. China also criticized the G7's composition, relevance, and stance on global peace and security. The G7 Summit leaders reaffirmed their commitment to a free and open Indo-Pacific governed by international law. Prime Minister Narendra Modi addressed the G7 Outreach Session on AI and Energy, Africa, and the Mediterranean, highlighting the transformative role of technology.
G7 plans to warn small Chinese banks over Russia ties, sources say
U.S. officials expect the G7 wealthy democracies to warn smaller Chinese banks at the upcoming summit hosted by Prime Minister Giorgia Meloni regarding their assistance to Russia in evading Western sanctions.
Real estate sector pushes for tax rationalisation and reduced approval cost as Modi 3.0 set to take oath
With Narendra Modi set to take oath as Prime Minister for the third time, the real estate industry has high expectations from Modi 3.0. The interim budget announced a boost for affordable housing by adding 2 crore more houses to the PMAY-U scheme. Experts emphasize the need for policy reorientation, cost reductions, and tax rationalization to accelerate growth. Industry leaders stress the need for government intervention to drive further growth, including reforms in GST and revisiting affordable housing definitions.
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Shivaji's life depicted in 115 paintings at a Delhi exhibition
Mohan, in his address, extolled the Maratha ruler traced the genesis of the exhibition and added that Gore has "agreed to gift" this collection to the Ministry of Culture, and there is a plan to give it a permanent space in Delhi.
Third term for Modi likely to see closer defense ties with US as India's rivalry with China grows
Prime Minister Narendra Modi emphasizes on boosting India's military preparedness and clout, focusing on expanding defense production and exports to counter China's influence in the Indo-Pacific region.
Macron says France to sell Mirage 2000 warplanes to Ukraine
French President Emmanuel Macron announced on Thursday that France will supply Ukraine with Mirage combat aircraft to help defend the country against Russian aggression. In an interview with a French broadcaster, Macron stated that the sale of Mirage 2005 fighter jets will enable Ukraine to protect its airspace and territory from Russian attacks. France will also provide training for Ukrainian pilots as part of the new cooperation agreement.
US to boycott UN tribute to Iran leader killed in helicopter crash
President Joe Biden's administration faced backlash for offering condolences on the death of Iranian President Ebrahim Raisi, known for human rights abuses and crackdowns on protests. The U.S. boycotted a U.N. tribute to Raisi, highlighting his controversial legacy.
US decries IDF strike in Rafah, urges Israel to prioritise civilian safety
National Security Council's Strategic Communications Coordinator, John Kirby condemned IDF strike in Rafah, expressing sorrow over loss of innocent lives, including children.
A new trade war offers no easy way back for old global order
The US-China trade war has intensified with the use of tariffs and subsidies, impacting Europe and China. US Treasury Secretary Janet Yellen has warned of global business risks.
'Made in China' housing crisis solution may not be enough
China grapples with a colossal housing crisis, with millions of unoccupied apartments and unfinished developments, threatening its economy. Beijing's plan involves massive state intervention, buying unsold properties and converting them into social housing. However, doubts still persist about its adequacy and efficacy, raising concerns about the broader economic impact on China
Pentagon says Russia launched space weapon in path of US satellite
Russia has reportedly launched a space weapon and placed it in the same orbit as a US government satellite, according to the Pentagon. The Russian satellite, launched on May 16, is believed to be capable of attacking other satellites in low Earth orbit. Pentagon spokesman Air Force Major General Pat Ryder emphasized the US's readiness to protect its interests in space. Kremlin spokesman Dmitry Peskov declined to comment, asserting that Russia acts in accordance with international law.
Palestinian state should be realized through negotiations, White House says
The White House stated on Wednesday that U.S. President Joe Biden advocates for the achievement of a Palestinian state through negotiations rather than unilateral recognition. This statement followed announcements from Ireland, Spain, and Norway that they would recognize a Palestinian state this month.
If China invades Taiwan, ASML and TSMC can disable chip machines
ASML Holding NV and Taiwan Semiconductor Manufacturing Co. have measures in place to remotely disable chipmaking machines in the event of a Chinese invasion of Taiwan. The US government has expressed concerns about the impact of such an attack on the global semiconductor supply chain. ASML's advanced EUV machines are crucial in this scenario, with TSMC being a major client. The stakes are high as Taiwan produces around 90% of the world's most advanced chips.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
China expected to announce new measures to fix property crisis, spur growth
China's housing prices dropped in the first four months of the year, while factory output increased by almost 7%. This has lead to officials planning new measures to boost the struggling property industry. The National Bureau of Statistics noted insufficient domestic demand. The State Council announced a news conference to address the property market challenges, including defaults by developers.
Biden sharply hikes US tariffs on Chinese chips, cars & other items worth billions
President Joe Biden announced a significant increase in tariffs on various Chinese imports, including electric vehicles and medical products, to address what the White House deems unfair trade practices. The move aims to bolster U.S. economic security but risks straining relations with Beijing ahead of the upcoming election.
US says Rafah offensive would jeopardize cease-fire talks as Biden threatens to halt more Israel aid
The United States has warned Israel against launching a full-scale assault on Gaza's Rafah, Hamas' stronghold, citing concerns over civilian casualties. President Biden threatened to pause offensive military aid to Israel if it proceeds with the operation. The U.S. views such an attack as strengthening Hamas' position and exacerbating the humanitarian crisis. Despite this, Israel remains defiant, with Prime Minister Netanyahu expressing willingness to stand alone if necessary. The U.S. is urging Israel to pursue more surgical operations against Hamas and is committed to Israel's defense, including providing defensive arms.
Biden's description of Japan as xenophobic is 'unfortunate,' Tokyo says
Biden lumped together allies Japan and India with rivals China and Russia at a recent campaign event, arguing the four economic powers were struggling because of their unwillingness to accept immigrants. "Why is China stalling so badly economically? Why is Japan in trouble? Why is Russia in trouble? And India? Because they're xenophobic. They don't want immigrants," the president said on Wednesday.
Government asks shipping companies to enhance reporting, tracking mechanism on West Asian routes
Government issues ship security advisories for West Asian routes. Vessels required to enhance reporting, tracking protocols in sensitive zones like Persian Gulf, Strait of Hormuz, Gulf Of Oman, Arabian Sea, and more. Contact Indian Navy in security incidents.
Iran to allow Indian authorities to meet 17 crew members of seized cargo vessel
Iran has agreed to allow Indian officials to meet the 17 Indian crew members of a cargo ship seized by Iranian forces near the Strait of Hormuz. Indian External Affairs Minister Jaishankar expressed concern and sought assistance from Iran. The ship, MSC Aries, was reportedly seized due to its alleged links with Israel.
Israel on alert after Iranian threat as Gaza war grinds on
Israel is on alert after Iran threatened retaliation for a strike in Syria that killed two Iranian generals. US warned of potential attacks by Iran or its allies as tensions rise. Iran's supreme leader vowed to punish Israel, and Israel warned of a response to any attack from Iran. Amid the Gaza war, regional tensions are high, with international calls for restraint and aid to Gaza. Talks for a truce and hostage release in Gaza continue, but Hamas is accused of walking away from a proposed ceasefire plan.
US says abstention on UN Gaza vote does not signal policy shift
The US abstention from a vote on a UN Security Council resolution demanding a Gaza ceasefire does not signal a change in Washington's policy, the White House said Monday. It does not represent a "shift in our policy," National Security Council spokesman John Kirby told journalists, saying the US backs a ceasefire but abstained because the resolution did not condemn Hamas. aue/wd/md
'Brutal' Russia strikes show Ukraine aid needs: White House
Russia fired almost 90 missiles and more than 60 drones, damaging dozens of energy facilities including power stations and the country's largest hydroelectric plant and killing at least five people, Ukrainian officials said.
US has not adjusted nuclear posture in response to Putin remarks
A US official stated that the US has not adjusted its nuclear posture due to Russian President Putin's recent nuclear saber-rattling, and there are no signs of Russia preparing to use a nuclear weapon in Ukraine. The official also noted that Russia's nuclear rhetoric has been reckless and irresponsible, and the US will continue to support Ukraine in defending its people and territory.
White House promises 'major sanctions' on Russia in response to Alexei Navalny's death
The White House says it is preparing additional "major sanctions" on Russia in response to opposition leader Alexei Navalny's death in an Arctic penal colony. National Security Council spokesman John Kirby said Tuesday that the new package would be unveiled this Friday.
"No excuse for violence...": US on attacks against Indian students
White House denounces violence against Indian students in the US. Biden administration collaborates with authorities. Recent incidents in Washington and Chicago. Increase in violence and fatalities involving Indian-Americans. Investigations ongoing for safety, security, and inclusive environment.
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