Headline

Asian Stocks Rise As Trump Postpones Mexico, Canada Tariffs

Published

7 months ago

February 4, 2025

Asian equities rose with the Mexican peso and Canadian dollar Tuesday after Donald Trump said he would delay the imposition of stiff tariffs on imports from the US neighbours, soothing trade war worries for now.

Tokyo, Seoul, Manila, Sydney, Mumbai, Bangkok, Wellington and Taipei were also in the green. Sydney and Singapore edged down.

But early euphoria was tempered somewhat after China announced levies on some imports of US goods as Washington’s measures kicked in, with no news that the two sides had reached an agreement to pause.

Markets from Japan to New York were sent tumbling Monday after news at the weekend that Trump had signed off 25 percent duties against Mexico and Canada, fanning concerns for the stuttering global economy.

Hours before the tariffs were due to take effect, Trump said he had struck deals with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum on immigration and fentanyl, and would postpone the measures for a month.

Talks on final deals would continue with both countries, he added.

The tycoon added that he would hold talks with Beijing “probably in the next 24 hours” to avoid new 10 percent tariffs on Chinese imports.

However, with the deadline for the tariffs passing at 0500 GMT, China unveiled tariffs on a range of US goods, including crude, coal, liquefied natural gas, agricultural machinery, large-engined vehicles and pickup trucks.

China, Canada and Mexico are the United States’ three biggest trading partners and had warned they would retaliate.

News of the deals with Mexico and Canada saw the Mexican peso surge more than three percent — having tumbled to a three-year low on Monday — before paring the gains slightly. The Canadian dollar jumped more than one percent.

Asian stock markets also advanced, though unease about the lack of movement on averting the Chinese tariffs saw traders’ pare the morning’s gains.

Hong Kong, which rose more than three percent in the morning, was up more than two percent, with analysts saying the measures so far would not have a major impact on China’s economy.

The euro and British pound remained under pressure after Trump warned the European Union would be next in the firing line, while he did not rule out tariffs against Britain.

“A risk is that this is the beginning of a tit-for-tat trade war, which could result in lower GDP growth everywhere, higher US inflation, a stronger dollar and upside pressure on US interest rates,” said Stephen Dover, chief market strategist and head of Franklin Templeton Institute.

“At the margin, these tariffs should encourage more domestic production of goods in the United States. However, the uncertainty surrounding the permanence of these tariffs makes it challenging for companies to make informed capital investment decisions.”

The volatile start to February on markets follows their rollercoaster ride last week after China’s DeepSeek unveiled a cheaper artificial intelligence model rivalling those of US tech giants, sparking questions over the vast sums invested in the sector in recent years.

“One thing we can say for sure. Markets are going to remain subject to massive headline risk in coming hours… days… and years,” Ray Attrill at National Australia Bank warned.

Gold spot prices held gains after spiking to a new record high of $2,830.74 on Monday, having retreated from last week’s all-time peak owing to the stronger dollar and as traders sought out the metal as a safe haven from uncertainty.

– Key figures around –

Tokyo – Nikkei 225: UP 0.7 percent at 38,798.37 (close)

Hong Kong – Hang Seng Index: UP 2.4 percent at 20,693.48

Shanghai – Composite: Closed for a holiday

Euro/dollar: DOWN at $1.0300 from $1.0302 on Monday

Pound/dollar: UP at $1.2409 from $1.2407

Dollar/yen: UP at 155.26 yen from 154.80 yen

Euro/pound: DOWN at 83.02 pence from 83.03 pence

West Texas Intermediate: DOWN 1.7 percent at $71.95 per barrel

Brent North Sea Crude: DOWN 1.0 percent at $75.23 per barrel

New York – Dow: DOWN 0.3 percent at 44,421.91 (close)

London – FTSE 100: DOWN 1.0 percent at 8,583.56 (close)

AFP

Headline

Thai Court Orders Ex-PM Back To Prison Over Unlawful Hospitalisation

Published

16 hours ago

September 9, 2025

Editor

Thailand’s former Prime Minister Thaksin Shinawatra has been sent back to prison after the country’s Supreme Court ruled that his extended hospitalisation following his return from self-imposed exile was unjustified, Reuters reported.

The court found that both Thaksin and his doctors had colluded to avoid serving his sentence behind bars.

The 76-year-old billionaire and political powerbroker was returned to prison on Tuesday, marking the latest chapter in a turbulent political career that has dominated Thai politics for over two decades.

His re-incarceration comes amid a wave of political turmoil, just days after the collapse of the latest government led by his daughter, Paetongtarn Shinawatra.

Thaksin had returned to Thailand in August 2023 after 15 years abroad and was sentenced to eight years for corruption and abuse of power during his 2001–2006 premiership.

The sentence was later commuted to one year by royal pardon. However, he spent only a few hours in prison before being moved to a hospital, citing heart issues and chest pain.

He remained there for six months until his release on parole.

The Supreme Court found that Thaksin’s hospital stay was unwarranted and that minor surgeries were performed to extend his time outside prison.

“The defendant knew the facts or was aware the situation was not a critical emergency.

“The defendant only had a chronic condition that could be treated as an outpatient and did not require hospitalisation,” the court said in its ruling.

According to Reuters, television footage showed Thaksin being escorted by corrections officers and arriving at a Bangkok jail shortly after the court’s decision.

The images gripped the nation as yet another chapter closed for the Shinawatra family, which has produced six premiers either removed by coup or court order.

Despite the setback, Thaksin expressed no regret. “I may no longer have freedom, but have freedom of thought to create benefit for the country and people,” he said on social media.

He also stated that he was proud of his public service, noting his efforts to uplift living standards and shift the political landscape.

Thaksin’s daughter, Paetongtarn, who was removed from office on August 29, was visibly emotional outside the court. “Me and my family are concerned,” she told reporters, adding, “This is quite heavy.”

Anutin Charnvirakul, the incoming prime minister and a former member of Thaksin’s party, expressed sympathy.

“I am saddened, I sympathise with him.

“For someone who has governed the country, I don’t want him to face something like this,” Anutin said.

Thaksin remains a divisive figure in Thailand. Once a police officer who became a telecom magnate, he won the loyalty of rural and working-class voters with populist policies such as cash handouts, healthcare reforms, and farm subsidies.

However, his rise angered Thailand’s conservative elite, including the military and judiciary, leading to repeated clashes and his eventual ousting in a 2006 coup.

Thaksin is the first former Thai prime minister to be jailed. Whether this signals the end of his political career or yet another chapter remains to be seen.

Headline

VIDEO: Swedish Health Minister Collapses During Press Conference

Published

16 hours ago

September 9, 2025

Editor

The newly appointed health minister in Sweden, Elisabet Lann, collapsed during a press conference on Tuesday at the start of the new parliamentary year of 2025-2026.

The minister, a municipal councillor in Gothenburg, was announced as health minister on Tuesday after her predecessor, Acko Ankarberg Johansson, suddenly resigned the day before.

Lann, who is from the Christian Democratic Congress, was accompanied by Prime Minister Ulf Kristersson and other officials when she suddenly collapsed on the stage, hitting her head on the lectern in the process.

The party leader Ebba Busch and other officials present quickly stepped in to help the minister, who received proper attention from security personnel before being led out of the room.

Lann returned to the event room shortly after saying, “This was not exactly a normal Tuesday, and this is what can happen when you have a blood sugar drop.”

However, it was not clear to the people present at the event whether Lann required any medical treatment, though she did not appear to be injured. The press conference was abruptly cancelled.

According to Euractiv, it was reported that Lann told reporters that the country’s healthcare system is of high quality, but the long queues need to be addressed.

“Swedish healthcare is of high quality; the main issue is the long waiting times. We must transition to equitable healthcare. It is clear that we must strengthen government control. It is not worthy of a welfare state that so many people are waiting for healthcare,” She added.

Watch video here

https://t.co/uNT770SNo2

Headline

PDP Dead, Buried, Controlled By APC – Dino Melaye

Published

21 hours ago

September 9, 2025

Editor

A former lawmaker representing Kogi West senatorial district, Senator Dino Melaye, has declared that the Peoples Democratic Party is “dead and buried,” alleging that the party is now under the control of the ruling All Progressives Congress.

Speaking in an interview on Arise Television, Melaye dismissed any hopes of revival for the opposition party, saying it no longer operates independently.

“Apart from our Lord Jesus Christ, no dead can rise again. PDP is dead and buried. The party was sold, and I’m not sure they even got the payment receipt. What you have now is an APC-controlled PDP,” he said.

Melaye, who previously contested under the PDP platform, accused unnamed agents of the APC of infiltrating and steering the affairs of the party from the presidential villa.

“It is a party that has been controlled from the villa. I have said before that as far as we are concerned, it is the agents of the APC that control the PDP,” he added.

The former senator, however, stated that he is no longer a member of the PDP and has now pitched his tent with the African Democratic Congress which he described as the platform capable of defeating President Bola Tinubu’s APC government in the next general elections.

“I’m a proud member of the ADC, and by the grace of God, that is the party that will unseat Tinubu and send APC out of the villa come May 29, 2027,” Melaye stated.

While steering the discussion away from the PDP’s internal issues, Melaye urged Nigerians to focus on pressing national challenges.

“There are critical issues bedevilling this country: hunger, malnutrition, misgovernance, and maladministration. Those are the issues I think we should discuss, not a dead party,” he said.