EU braces for US trade turbulence despite tariff deal

EU braces for US trade turbulence despite tariff deal

BRUSSELS : The European Union anticipates further turbulence in trade relations with the United States but views its recent tariff agreement as a protective measure. Under the deal, most EU exports to the US will face a maximum 15% tariff, providing a buffer against potential disputes. A senior EU official confirmed that executive orders to reduce tariffs on specific goods, including cars and car parts, are expected soon. “We do expect further turbulence, but we have a clear insurance policy—the 15% tariff across the board. If the U.S. administration does not stick to that, we have the means to react,“ the official said. While the agreement covers most sectors, key industries like wine and spirits remain unresolved. Gabriel Picard, head of France’s wine and spirits exporters federation, expressed cautious optimism. “We are 48 hours away from a decision, and we have not lost hope that wines and spirits can be exempted,“ he said. The EU is also negotiating exemptions for essential products, aiming for a zero-tariff arrangement. However, discussions on steel and other sensitive sectors are taking longer due to volume-related complexities. Despite the deal, business sentiment in the euro zone has dipped, reflecting concerns over unresolved trade issues. German engineering orders fell 5% in June, highlighting economic uncertainty. France and Germany have called for a stronger EU stance in future trade talks. - Reuters

Swiss president seeks US tariff deal in Washington talks

Swiss president seeks US tariff deal in Washington talks

ZURICH : Swiss President Karin Keller-Sutter will travel to Washington later today for discussions with US authorities to improve Switzerland’s customs situation. The government stated the talks aim to present a more attractive offer to reduce additional tariffs on Swiss exports while addressing US concerns. “The aim is to make the U.S. a more attractive offer in order to reduce the level of additional tariffs on Swiss exports, while taking U.S. concerns into account,“ the government said in a statement. The negotiations come as Switzerland seeks to ease trade tensions and secure better terms for its exporters. The discussions will focus on balancing economic interests while maintaining diplomatic relations. - Reuters

Indian shares fall on Trump tariff threats over Russian oil

Indian shares fall on Trump tariff threats over Russian oil

MUMBAI : Indian shares closed lower on Tuesday as investors reacted to renewed tariff threats from U.S. President Donald Trump over India’s Russian oil imports. The Nifty 50 fell 0.3% to 24,649.55, while the BSE Sensex dropped 0.38% to 80,710.25. Trump’s warning of higher tariffs on Indian goods triggered concerns over trade tensions, with New Delhi calling the move “unjustified.” Twelve of the 16 major sectors declined, with small-cap and mid-cap indexes down 0.2% and 0.4%, respectively. Yogesh Patil, CIO-equities at LIC Mutual Fund, said, “U.S. trade uncertainty may keep Indian markets volatile in the short term, but strong domestic fundamentals support medium- to long-term prospects.” Investors are also awaiting the Reserve Bank of India’s policy decision on Wednesday, where rates are expected to remain steady at 5.50%. However, pressure for a rate cut has grown after the U.S. imposed 25% tariffs on Indian goods. Reliance Industries, India’s largest company by market value, fell 1.4% due to concerns over refinery profitability if crude sourcing shifts from Russia. State-owned refiners also declined, while U.S.-exposed sectors like pharma and IT dropped 0.8% and 0.5%, respectively. Private lender IndusInd Bank rose 1.9% after appointing Rajiv Anand as CEO. BSE shares fell 4.8% on reports of potential regulatory curbs on options trading. - Reuters

Israel considers full Gaza takeover as ceasefire talks collapse

Israel considers full Gaza takeover as ceasefire talks collapse

JERUSALEM/CAIRO : Israel’s cabinet is reportedly considering a full military takeover of Gaza, reversing its 2005 withdrawal, as ceasefire negotiations with Hamas collapse. Prime Minister Benjamin Netanyahu favours expanding the offensive to seize the entire enclave, according to Israeli Channel 12. A senior Israeli source confirmed that increased military action is being weighed after indirect talks with Hamas failed. The move would mark a dramatic shift from Israel’s 2005 disengagement, which right-wing factions blame for Hamas’s rise to power. The potential full-scale occupation raises questions over whether Israel intends a prolonged presence or a short-term operation to dismantle Hamas and recover hostages. The current coalition government, among Israel’s most right-wing, includes parties advocating annexation of Gaza and the West Bank. However, the military has resisted long-term governance plans, citing manpower strains from prolonged mobilisation. The war, triggered by Hamas’s October 2023 attack that killed 1,200 Israelis, has devastated Gaza, with Palestinian authorities reporting over 60,000 dead and widespread famine. International pressure for a ceasefire is mounting, with several European nations threatening to recognise Palestinian statehood next month if hostilities continue. Inside Gaza, Israeli strikes killed at least 13 Palestinians on Tuesday, including aid seekers near Rafah. Israeli tanks advanced into central Gaza, though it remains unclear if this signals a broader offensive. Palestinians in remaining unoccupied areas fear further displacement. “Where would we go, into the sea? This is a death sentence,“ said Abu Jehad, a Gaza resident. A Palestinian official close to negotiations suggested Israel’s threats aim to pressure Hamas, but the group insists on a full withdrawal. Meanwhile, limited aid, including chocolates and biscuits, entered Gaza, with hopes for more essential supplies. U.S. envoy Steve Witkoff is reportedly working on an end-war plan, but Israeli officials also discuss annexation. Earlier ceasefire talks in Doha, proposing a 60-day truce and hostage exchange, collapsed. The military is expected to propose expanding operations into unentered Gaza zones. - Reuters

Bursa Malaysia ditutup positif

Bursa Malaysia ditutup positif

PETALING JAYA: Bursa Malaysia naik 11.66 mata kepada 1,538.64 pukul 5 petang hari ini, berbanding 1,526.98 pada penutup Isnin. Indeks penanda aras dibuka tinggi 1,528.63. Jumlah dagangan sebanyak 2.87 bilion unit bernilai RM2.75 bilion. Di pasaran yang lebih luas, kaunter rugi mengatasi untung sebanyak 538 berbanding 479 dengan 505 kaunter tidak berubah dan 973 tidak ... Read more The post Bursa Malaysia ditutup positif appeared first on Utusan Malaysia .

KKDW Perkukuh Sinergi PBK-LKW Demi Masa Depan Desa – Ahmad Zahid

KKDW Perkukuh Sinergi PBK-LKW Demi Masa Depan Desa – Ahmad Zahid

KUALA LUMPUR, 5 Ogos – Timbalan Perdana Menteri, Datuk Seri Dr Ahmad Zahid Hamidi memaklumkan bahawa Mesyuarat Perancangan dan Pembangunan Secara Bersepadu antara Pihak Berkuasa Koridor (PBK) dan Lembaga Kemajuan Wilayah (LKW) yang diadakan hari ini membuktikan komitmen kerajaan memperkukuh kerjasama antara perancang wilayah dan pelaksana akar umbi dalam merencana masa depan luar bandar. Beliau yang juga Menteri Kemajuan Desa [...]

Serangan seksual: Bekas pemain tengah Arsenal, Thomas Partey dibenarkan ikat jamin

Serangan seksual: Bekas pemain tengah Arsenal, Thomas Partey dibenarkan ikat jamin

LONDON: Bekas pemain tengah Arsenal, Thomas Partey telah dibenarkan ikat jamin bersyarat selepas hadir di mahkamah atas tuduhan rogol dan serangan seksual. Pemain antarabangsa Ghana berusia 32 itu telah didakwa dengan lima pertuduhan merogol terhadap dua wanita, serta pertuduhan serangan seksual terhadap wanita ketiga. Kesalahan yang didakwa berlaku antara 2021 dan 2022, ketika dia menjadi pemain ... Read more The post Serangan seksual: Bekas pemain tengah Arsenal, Thomas Partey dibenarkan ikat jamin appeared first on Utusan Malaysia .

Man arrested for influencer home break-in remanded four days

Man arrested for influencer home break-in remanded four days

BALIK PULAU : A man arrested for breaking into a house believed to belong to a social media influencer in Batu Maung has been remanded for four days to assist in investigations. Barat Daya police chief ACP Sazalee Adam confirmed the 21-year-old suspect will be held until August 8. The suspect tested positive for methamphetamine, amphetamine, and benzodiazepine drugs. Police also discovered prior drug-related offences in his record. The case is being investigated under Section 448 of the Penal Code for trespassing. Media reports yesterday revealed the suspect was caught by the homeowner after returning to the burglarised house to collect items he had left behind. - Bernama

Ibu patah tulang belakang kerana cabaran ‘stiletto’

Ibu patah tulang belakang kerana cabaran ‘stiletto’

MOSCOW – Seorang pempengaruh media sosial di Russia patah tulang belakang selepas terjatuh ketika melakukan cabaran media sosial dinamakan Stiletto Challenge (cabaran kasut tumit tinggi), lapor akhbar The Sun UK semalam. Ketika kejadian, Mariana Barutkina, 32, cuba mengimbangi balang makanan bayi di atas periuk terbalik yang dilakukan sambil memakai kasut tumit tinggi. Rakaman video menunjukkan ... Read more The post Ibu patah tulang belakang kerana cabaran ‘stiletto’ appeared first on Kosmo Digital .