WASHINGTON: Republican presidential candidate Donald Trump said on Thursday the US Federal Reserve’s decision to cut interest rates by half of a percentage point was “a political move.”
“It really is a political move. Most people thought it was going to be half of that number, which probably would have been the right thing to do,” Trump said in an interview with Newsmax.
The Federal Reserve on Wednesday kicked off what is expected to be a series of interest rate cuts with an unusually large half-percentage-point reduction.
Trump said last month that US presidents should have a say over decisions made by the Federal Reserve.
The Fed chair and the other six members of its board of governors are nominated by the president, subject to confirmation by the Senate. The Fed enjoys substantial operational independence to make policy decisions that wield tremendous influence over the direction of the world’s largest economy and global asset markets.
Trump says Fed’s rate cut was ‘political move’
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Trump says Fed’s rate cut was ‘political move’
EU sanctions Iran over ballistic missiles for Russia
Deputy Defense Minister Seyed Hamzeh Ghalandari is one of seven senior officials now banned from traveling in Europe and whose assets in the bloc were frozen. The EU said he “is involved in the development of Iran’s (drone) and missile program,” given his high-level defense role.
Iran Air, Mahan Air and Saha Airlines had their assets frozen. The EU said their planes were “used repeatedly to transfer Iranian-made unmanned aerial vehicles and related technologies to Russia, which have been used in Russia’s war of aggression against Ukraine.”
EU foreign ministers endorsed the sanctions at a meeting in Luxembourg.
In March, the bloc had warned that “were Iran to transfer ballistic missiles and related technology to Russia for use against Ukraine, the EU would be prepared to respond swiftly, including with new and significant restrictive measures.”
EU member countries, with the exception of Hungary, have been supplying weapons and ammunition as well as economic and other support to Ukraine worth some 118 billion euros ($129 billion) since Russia launched its full-scale invasion in February 2022.
UN refugee chief urges states to drop border controls even as displacement crises worsen
- More than 123 million people displaced around the world
- Continued air strikes set to worsen Lebanon displacement
- Calls for drastic increase in support for Sudanese refugees
GENEVA: The head of the UN refugee agency warned on Monday that displacement crises in Lebanon and Sudan could worsen, but said tighter border measures were not the solution, calling them ineffective and sometimes unlawful.
Addressing more than 100 diplomats and ministers in Geneva at UNHCR’s annual meeting, Filippo Grandi said an unprecedented 123 million people are now displaced around the world by conflicts, persecution, poverty and climate change.
“You might then ask: what can be done? For a start, do not focus only on your borders,” he said, urging leaders instead to look at the reasons people are fleeing their homes.
“We must seek to address the root causes of displacement, and work toward solutions,” he said. “I beg you all that we continue to work — together and with humility — to seize every opportunity to find solutions for refugees.”
Without naming countries, Grandi said initiatives to outsource, externalize or even suspend asylum schemes were in breach of international law, and he offered countries help in finding fair, fast and lawful asylum schemes.
Western governments are under growing domestic pressure to get tougher on asylum seekers and Grandi has previously criticized a plan by the former British government to transfer them to Rwanda.
In the same speech he warned that in Lebanon, where more than one million people have fled their homes due to a growing conflict between Israel and Hezbollah, the situation could worsen further.
“Surely, if airstrikes continue, many more will be displaced and some will also decide to move on to other countries.”
He called for a drastic increase in support for refugees in Sudan’s civil war, saying lack of resources was already driving them across the Mediterranean Sea and even across the Channel to Britain.
“In this lethal equation, something has got to give. Otherwise, nobody should be surprised if displacement keeps growing, in numbers but also in geographic spread,” he said.
The UNHCR response to the crisis that aims to help a portion of the more than 11 million people displaced inside Sudan or in neighboring countries is less than 1/3 funded, Grandi said.
The number of displaced people around the world has more than doubled in the past decade.
Grandi, set to serve as high commissioner until Dec. 2025, said the agency’s funding for this year had recently improved due to US support but remained “well below the needs.”
Scottish nationalist politician expelled by party over ‘utterly abhorrent’ Gaza remarks
- John Mason: Israel would have ‘killed 10 times as many’ people if it wanted to commit genocide
- SNP spokesperson: ‘To flippantly dismiss the death of more than 40,000 Palestinians is completely unacceptable’
LONDON: A Scottish National Party politician has been expelled for “utterly abhorrent” comments about the war in Gaza, The Guardian reported.
John Mason, the member of the Scottish Parliament for Glasgow Shettleston, said on social media in August: “If Israel wanted to commit genocide, they would have killed 10 times as many.”
It came in response to a post by former SNP colleague Sandra White, who wrote: “We know what Israelis hope to achieve they are already committing genocide in Gaza.” She added that “innocent children are being massacred.”
A party spokesperson said of Mason’s remarks: “To flippantly dismiss the death of more than 40,000 Palestinians is completely unacceptable. There can be no room in the SNP for this kind of intolerance.”
Mason’s comments prompted a furious backlash from party supporters and colleagues, with former SNP Westminster leader Ian Blackford posting on X: “You are not fit for public office. You are an embarrassment and not fit to represent anyone.”
On Sunday, Mason said on X: “Very disappointed to be expelled from the SNP over my comments on Israel, Gaza, and whether or not there has been genocide.
“I continue to believe that we should be able to tolerate a variety of views within the party as long as we are all committed to Scottish independence.”
Mason posted on Facebook that he stood by his remarks, but that his “primary desire” for the conflict is “peace talks, negotiations, and eventually peace.”
He added: “Too many lives have already been lost in Israel, Gaza, and beyond and, as I said when I spoke in parliament, many people feel that Israel has moved from a position of self-defence to seeking revenge.
“However, I personally do not believe that Israel has tried to commit, has committed, or is committing genocide.
“They certainly have the ability to kill many more Palestinians than they have done. That is not to say that the loss of life already is not too many.”
Philippines seeks to enhance energy security with new Saudi cooperation
- Under national energy plan, Manila wants to increase renewable sources to 50 percent by 2040
- Saudi-Philippine cooperation can also explore tech, solutions related to climate change mitigation
MANILA: The Philippines wants to expand its international energy partnerships and improve energy security with a new cooperation with Saudi Arabia, its Department of Energy said on Monday ahead of an official trip to the Kingdom.
Manila has been exploring clean and sustainable options to generate power as the country regularly suffers outages and faces high tariffs. Coal remains the main source of electricity in the Southeast Asian nation, accounting for more than half of its power generation.
A Philippine energy mission was headed to Saudi Arabia on Monday for a two-day trip “aimed at enhancing energy security, driving economic growth, and fostering sustainable development,” the DoE said in a statement.
“A major highlight of the mission is the signing of a memorandum of understanding with the Ministry of Energy of the KSA.”
The latest mission follows President Ferdinand Marcos Jr.’s trip to Riyadh last October, during which a $4.26 billion investment agreement was signed with Saudi business leaders.
At the time, some Saudi state-owned enterprises had expressed interest in investing in the Philippine energy sector, the DoE said.
The preliminary agreement will provide “a framework for cooperation on key areas,” including renewable energy and natural gas, as well as relevant technologies and solutions related to climate change mitigation.
Under the Philippine Energy Plan, the government aims to increase the share of renewable sources in the energy mix from 22 percent currently to 50 percent by 2040.
Philippine authorities expect the country’s power demand to increase almost fourfold from 2020 to 2040, especially as it remains dependent on imported fossil fuels and has insufficient renewables.
“Partnerships with Saudi Arabia extend beyond addressing the current energy needs,” the energy department said, adding that the two countries can explore possibilities for joint research and development projects, policy exchange, and capacity building in areas such as carbon capture, use and storage, and hydrogen.
“As global efforts to transition to cleaner and more sustainable energy sources intensify, the Philippines and Saudi Arabia can cooperate in the development and deployment of low-carbon technologies.”
Three Pakistani policemen killed in attack at police HQ
- Three assailants were killed by police
PESHAWAR: At least three policemen were killed in northwest Pakistan when Islamist militants stormed a district police headquarters in Khyber Pakhtunkhwa province on Monday, a police source told Reuters.
The attack on the complex, which houses both the district police headquarters and a residential complex, was ongoing, the high-ranking police source said, adding that the assailants, who included suicide bombers, had been “pinned down” in the area.
Three assailants were killed by police, he added.
The source, requesting anonymity due to the sensitivity of the matter, said three policemen were killed while resisting the assault on the Police Lines of District Bannu, which borders the restive North Waziristan tribal district on the Pakistan-Afghanistan border.
Islamist militant group Tehreek-e-Taliban Pakistan claimed responsibility for the attack, a spokesperson for the group said.
The roads around the complex have been closed to traffic as security forces moved to neutralize the remaining attackers, the police source added.
Bannu is about 350 kilometers from Pakistan’s capital Islamabad, which is under strict security lockdown due to the arrival of Chinese Premier Li Qiang on Monday ahead of a regional leaders’ meeting this week.