Headline

Asian Stocks Rise As Trump Postpones Mexico, Canada Tariffs

Published

10 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

Nigerian Jailed Six Years In U.S. For Sextortion

Published

1 day ago

November 16, 2025

Editor

Imoleayo Samuel Aina, also known as “Alice Dave,” a 27-year-old Nigerian national, has been sentenced to six years in federal prison following his conviction on multiple charges connected to the sexual extortion and subsequent death of a young man in Pennsylvania.

The sentence, handed down by United States District Judge Joel H. Slomsky, includes 72 months of incarceration, five years of supervised release, and a restitution payment of $3,250. Aina had earlier pleaded guilty to cyberstalking, interstate threats to injure reputation, receiving proceeds of extortion, conspiracy to commit money laundering, and wire fraud.

Aina and his co-defendant, Samuel Olasunkanmi Abiodun, were initially arrested in Nigeria in July 2024 and subsequently extradited to the United States. Another co-defendant, Afeez Olatunji Adewale, remains in Nigeria pending extradition. Abiodun, 26, was sentenced to five years in June 2025 for his role in money laundering and wire fraud related to the same sextortion scheme.

U.S. Attorney David Metcalf described Aina as “the driving force behind this sextortion scheme, which left a young man, and then his family, traumatised.” He added, “The Department of Justice won’t just stand by when innocent victims in the U.S. are harmed by criminal scammers overseas. As this case shows, we can — and we will — find, prosecute, and hold accountable these insidious sextortionists who terrorise people for money.”

Wayne A. Jacobs, Special Agent in Charge of the FBI’s Philadelphia Field Office, emphasised the wider message of the prosecution. “This case is a powerful reminder of the profound harm sextortion inflicts on young people and their families, and of our unwavering commitment to pursuing those who perpetrate it.

“Whether you are in the United States or operating from abroad, the FBI and our partners will relentlessly pursue you. If you exploit our youth, we will bring you to justice.”

The investigation, conducted jointly by the FBI and the Abington Township Police Department, was supported by multiple international and Nigerian authorities, including Nigeria’s Attorney General, the Economic and Financial Crimes Commission, and the Ministry of Justice’s International Criminal Justice Cooperation Department.

Aina’s co-defendants played complementary roles in the scheme. Abiodun functioned as the financial intermediary, while Adewale, who remains in Nigeria, faces charges of money laundering conspiracy and wire fraud.

Assistant United States Attorney Patrick Brown, prosecuting the case, noted the international collaboration required to secure Aina’s extradition and conviction. “This prosecution demonstrates that national borders do not shield those who exploit and defraud others. Those who choose to target the vulnerable should understand that justice will reach them, regardless of location,” he said.

Headline

UK Ends Automatic Benefits For Asylum Seekers In Major Reform

Published

1 day ago

November 16, 2025

Editor

Britain’s interior minister on Sunday defended plans to drastically reduce protections for refugees and end automatic benefits for asylum seekers, insisting that irregular migration was “tearing our country apart”.

The measures, modelled on Denmark’s strict asylum system, aim to stop thousands of migrants from arriving in England from northern France on small boats — crossings that are fuelling support for the anti-immigrant Reform UK party.

But the proposals were criticised as “harsh and unnecessary” by the Refugee Council charity and are likely to be opposed by left-wing lawmakers within Prime Minister Keir Starmer‘s embattled Labour government.

“I really reject this idea that dealing with this problem is somehow engaging in far-right talking points,” Home Secretary Shabana Mahmood told BBC television.

“This is a moral mission for me, because I can see illegal migration is tearing our country apart, it is dividing communities.”

Presently, those given refugee status have it for five years, after which they can apply for indefinite leave to remain and eventually citizenship.

But Mahmood’s ministry, known as the Home Office, said it would cut the length of refugee status to 30 months.

That protection will be “regularly reviewed” and refugees will be forced to return to their home countries once they are deemed safe, it added.

The ministry also said that it intended to make those refugees who were granted asylum wait 20 years before applying to be allowed to live in the UK long-term, up from the current five years.

It also announced that it would create “new safe and legal routes for genuine refugees” through “capped work and study routes”.

Asylum claims in Britain are at a record high, with some 111,000 applications made in the year to June 2025, according to official figures.

The Home Office called the new proposals, which Mahmood will lay out in parliament on Monday, the “largest overhaul of asylum policy in modern times”.

It said the reforms would make it less attractive for irregular migrants to come to Britain, and make it easier to remove those already in the country.

– Benefits crackdown –

A statutory legal duty to provide support to asylum seekers, introduced in a 2005 law, would also be revoked, the Home Office said.

That means housing and weekly financial allowances would no longer be guaranteed for asylum seekers.
It would be “discretionary”, meaning the government could deny assistance to any asylum seeker who could work or support themselves but did not, or those who committed crimes.

Starmer, elected in July 2024, is under pressure to stop migrants crossing the Channel in small boats from France, something that also troubled his Conservative predecessors.

More than 39,000 people, many fleeing conflict, have arrived this year following such dangerous journeys — more than for the whole of 2024 but lower than the record set in 2022.

Reform, led by firebrand Nigel Farage, has led Labour by double-digit margins in opinion polls for most of this year.

Enver Solomon, chief executive of the Refugee Council, urged the government to rethink its plans, saying they “will not deter” the crossings.

“They should ensure that refugees who work hard and contribute to Britain can build secure, settled lives and give back to their communities,” he said.

Labour is taking inspiration from Denmark’s coalition government — led by the centre-left Social Democrats — which has implemented some of the strictest migration policies in Europe.

Senior British officials recently visited the Scandinavian country, where successful asylum claims are at a 40-year-low.

Refugees in Denmark are entitled to a one-year renewable residency permit, and are encouraged to return home as soon as authorities deem there is no longer a need for a safe haven.

Family reunions are also subject to strict requirements, including a minimum age for both parents, language tests and guarantees of funds.

Labour’s more left-wing lawmakers will probably oppose the plans, fearing that the party is losing voters to progressive alternatives such as the Greens.

Headline

Overcrowding, Security Lapses Plague Nigerian Prisons —EU

Published

1 day ago

November 16, 2025

Editor

A report by the European Union Agency for Asylum has revealed that Nigeria’s custodial centres are battling “escalating security challenges.”

The report, sighted by Sunday PUNCH, was published in November 2025. It documented a decade-long pattern of prison escapes in the country, explaining why the custodial centres are confronting rising jailbreaks, citing persistent security lapses.

“Over the past decade, Nigeria has experienced a pattern of prison jailbreaks, resulting in thousands of inmates escaping correctional facilities nationwide,” the report noted.

Highlighting systemic weaknesses, the report cited overcrowding, structural deficiencies, and chronic underfunding as major contributors to the problem.

“One incident occurred in March 2025, when 12 inmates escaped from the Koton Karfe Medium Security Custodial Centre in Kogi State. Only five were recaptured.

“This marked the fourth jailbreak at this facility in 13 years, where nearly 700 inmates have fled, including about 100 freed during a 2012 Boko Haram attack,” it stated.

Observers attribute the recurring breakouts to “security gaps, together with possible insider complicity, which exacerbate the prisons’ vulnerabilities, especially amid attacks by armed groups like Boko Haram.”

Beyond security concerns, the report said overcrowding and poor infrastructure continued to strain the country’s correctional system.

“The country’s more than 240 prisons currently house over 80,000 inmates, with two-thirds awaiting trial.

“The observers also point to systemic issues such as overcrowding, outdated infrastructure, poor inmate conditions, slow judicial processes, and widespread corruption,” the report said.

“International bodies have also criticised the state of Nigeria’s detention system,” it stated.

Following a September 2024 visit, the United Nations Subcommittee on Prevention of Torture described conditions in detention centres as “abysmal,” citing inadequate food, healthcare, and sanitation.

“Their assessment described conditions in most detention facilities as ‘abysmal.’ Additionally, Nigeria had not yet established a National Preventive Mechanism as required under the Optional Protocol to the Convention against Torture, which Nigeria ratified in 2009.

“The Subcommittee called on Nigeria to urgently implement measures to prevent torture and ill-treatment, improve detention conditions—particularly in police stations and similar facilities—and enforce legal safeguards to end impunity for perpetrators of torture,” the report read.

The report also raised concerns over the continued use of the death penalty.

It added, “In Nigeria, the death penalty is a ‘lawful punishment’ imposed nationwide, including for offences that do not meet the threshold of ‘most serious crimes’ under international law.

“Although no executions have been carried out since 2016, courts across the country still regularly issue death sentences. In 2023, Nigerian courts issued over 246 new death sentences, raising the total number of individuals on death row to more than 3,413.”

In May 2024, the Senate proposed a bill to increase the maximum penalty for drug trafficking from life imprisonment to death, a move that has faced opposition from various stakeholders, including legislators, the United Nations Office on Drugs and Crime country representative, as well as activists and legal professionals.

“Such a proposal has reignited debate over the continued use of the death penalty in the country, with some authorities questioning the sustainability of retaining capital punishment.

“Further, although legal provisions allow for commutation of sentences by governors or chief judges after extended incarceration, inconsistencies in application have left many inmates in legal limbo,” said the report.

The Nigerian Correctional Service revealed in July 2025 that the country had 3,833 inmates on death row.

The report further stated that the African Commission on Human and Peoples’ Rights has urged Nigeria to “impose a moratorium on executions, a stance supported by the European Union and United Nations.”

It added that the detention conditions remained “harsh,” falling short of United Nations minimum standards for prisoner treatment.

Media reports and information from the Nigerian Correctional Service website indicated that thousands of inmates have escaped from 13 custodial facilities between 2019 and 2025, including many awaiting trial for serious offences such as terrorism and armed robbery.

In response to the ongoing wave of jailbreaks that has plagued custodial centres nationwide over the past years, the Controller General of the Nigerian Correctional Service, Sylvester Nwakuche, recently vowed to enforce strict disciplinary action against any officers found to have been negligent.