Category: World

Tokyo : Japan, once seen as a global economic powerhouse poised to challenge the United States, is now grappling with its worst inflation crisis in decades, falling behind even emerging economies like India. In a dramatic shift on the global economic stage, India has overtaken Japan to become the world’s fourth-largest economy, while Japan’s economic woes continue to deepen. The most alarming indicator of this crisis is the unprecedented rise in rice prices, a staple in the Japanese diet. According to the latest data, rice prices surged by 98.4% in…

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New Delhi: India’s automobile industry is on the brink of a significant disruption as Chinese restrictions on rare earth magnet exports threaten to bring vehicle production to a standstill by early June. Major automakers and industry groups have urged the Indian government to intervene immediately to avert the impending supply chain breakdown. Rare Earth Magnet Shortage Could Halt Production The Society of Indian Automobile Manufacturers (SIAM) has warned the Ministry of Commerce that several auto component suppliers may completely run out of rare earth magnet stocks by the end of…

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Washington: Since Donald Trump’s return to the Oval Office, financial markets around the world have been thrown into a state of flux. The former President, now reinstated as the 47th President of the United States, has triggered a wave of volatility through abrupt tariff decisions, frequent policy reversals, and aggressive trade posturing. A Timeline of Shocks from the Trump Trade Doctrine Trump’s second innings began with a storm of protectionist measures, many of which were later retracted or altered, creating instability across global markets. Feb 1: Trump imposed a 25%…

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Washington: In a stark warning, the World Meteorological Organization (WMO) has projected that global temperatures will remain at or near record highs between 2025 and 2029, further escalating climate-related risks for ecosystems, economies, and societies. According to the WMO’s latest “Global Annual to Decadal Climate Update”, there is an 80% chance that at least one of the next five years will be warmer than 2024, and an 86% likelihood that global temperatures will exceed 1.5°C above pre-industrial levels in at least one year between 2025 and 2029. “We have just…

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Kathmandu — Legendary mountaineer Kami Rita Sherpa, known globally as the “Everest Man,” has achieved an extraordinary milestone by summiting Mount Everest for the 31st time, further extending his own world record. The 55-year-old climber from Nepal first reached the world’s highest peak in 1994, and more than three decades later, he continues to set new records in the Himalayas. His latest ascent took place on Tuesday, as part of a commercial expedition. “I was just doing my job,” Sherpa humbly stated after the climb. Reflecting on his 30th summit in…

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Washington, D.C. — Tesla and SpaceX CEO Elon Musk has officially stepped down from his role as a “Special Government Employee” in the Trump administration, citing the end of his scheduled tenure and expressing concerns over rising government expenditure. “In my final days as a Special Government Employee, I want to thank President Donald Trump for the opportunity to help reduce wasteful spending,” Musk said in a post on social media platform X. He added, “As the DOGE mission becomes embedded within the government, I believe it will only grow stronger…

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Washington — As the United States and India move closer to finalizing a long-awaited trade agreement, a top American diplomat has stressed the need for “fair and reciprocal” access to each other’s markets. The demand was made during a high-level meeting in Washington between U.S. Deputy Secretary of State Christopher Landau and India’s Foreign Secretary Vikram Misri. According to a statement from U.S. State Department spokesperson Tammy Bruce, Deputy Secretary Landau “underscored the importance of fair and reciprocal market access to fostering economic growth and prosperity in both countries.” The emphasis…

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New York — In a major legal setback for former President Donald Trump, a U.S. federal court has ruled that his wide-ranging tariff plan overstepped presidential authority and violated legal boundaries. The decision effectively halts the implementation of the bulk of the tariffs, many of which targeted imports from key U.S. trade partners, including China, Mexico, and Canada. According to CNN, the U.S. Court of International Trade in Manhattan delivered the ruling, declaring that the tariffs Trump attempted to impose under the International Emergency Economic Powers Act (IEEPA) were unlawful. The…

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Mexico City — Mexican President Claudia Sheinbaum expressed optimism  that the U.S. will reopen its border to Mexican cattle exports “very soon,” following bilateral agreements aimed at controlling the outbreak of the screwworm pest. The border closure was initially announced by the United States Department of Agriculture (USDA) on May 12, imposing a 15-day halt on Mexican cattle imports after cases of the screwworm parasite were detected. However, the restriction has remained in effect beyond the initial timeline, according to a report by the Xinhua news agency. Speaking during her…

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Jakarta  — Indonesia’s PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) has reaffirmed its commitment to driving the nation’s clean energy transition by entering into a new collaboration with French energy firm HDF Energy and Indonesia’s state electricity company, PT Perusahaan Listrik Negara (Persero) (“PT PLN”). The three parties signed a Memorandum of Understanding (MoU) on Hydrogen Utilization for Electrification  in the presence of French President Emmanuel Macron and Indonesian President Prabowo Subianto at the State Palace in Jakarta. The MoU outlines joint efforts to explore financing support for hydrogen-based power…

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