WHITE HOUSE NATIONAL ECONOMIC COUNCIL
Biden says he was sick during debate, asserts only 'Lord Almighty' can drive him out of race
In a candid television interview, US President Joe Biden reflected on his challenging first presidential debate against Donald Trump, admitting to feeling "exhausted" and "sick" during the encounter. Biden, 81, attributed his performance to a bad cold rather than a serious condition, emphasizing his commitment to continue running for re-election despite some party leaders suggesting otherwise. He dismissed concerns about his mental fitness, stating he undergoes daily cognitive tests and would only withdraw from the race if prompted by divine intervention. Biden's remarks sparked varied reactions, including calls for transparency from Congressman Ro Khanna.
Joe Biden called to congratulate UK's Starmer, White House says
President Joe Biden called British Prime Minister Keir Starmer to congratulate him on Labour Party’s landslide election victory. They reaffirmed the U.S.–UK special relationship crucial for global freedom and democracy, according to a White House statement. Biden expressed eagerness to work on issues: supporting Ukraine against Russia, the Good Friday agreement, and economic growth opportunities in Northern Ireland.
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.
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.
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.
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.
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.
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