Author: Finance for Sight

GANAPAVARAM: Turbulence unleashed by President Donald Trump’s tariffs could rock global shipments of shrimp to the United States, with exporters in biggest supplier India saying they endanger 2,000 containers packed with the frozen delicacy. But Ecuador, thousands of kilometres nearer to the United States faces a lower tariff rate and stands to benefit, the exporters say, as shrimp is its most important export after oil. India’s shrimp industry is staring at a tariff of 26% under Trump’s July plan, which threatens a thriving $7-billion seafood export market heavily reliant on US supermarket chains such as Walmart and Kroger as buyers…

WASHINGTON/WEST PALM BEACH: US President Donald Trump on Sunday bore down on his administration’s latest message that the exclusion of smartphones and computers from his reciprocal tariffs on China will be short-lived, pledging a national security trade investigation into the semiconductor sector. Those electronics “are just moving to a different Tariff ‘bucket,’” Trump said in a social media post. “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.” The White House had announced the exclusions from steep reciprocal tariffs on Friday. Tariff war could cut US-China goods trade by…

RIYADH: The United States and Saudi Arabia will sign a preliminary agreement to cooperate over the kingdom’s ambitions to develop a civil nuclear industry, US Energy Secretary Chris Wright told reporters in the Saudi capital Riyadh on Sunday. Wright, who had met with Saudi Energy Minister Prince Abdulaziz bin Salman earlier on Sunday, said Riyadh and Washington were on a “a pathway” to reaching an agreement to work together to develop a Saudi civil nuclear programme. Wright, on his first visit to the kingdom as secretary as part of tour of energy-producing Gulf states, said further details over a memorandum…

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said Sunday that French President Emmanuel Macron was “gravely mistaken” in advocating for a Palestinian state. “President Macron is gravely mistaken in continuing to promote the idea of a Palestinian state in the heart of our land – a state whose sole aspiration is the destruction of Israel,” Netanyahu said in a statement. He was addressing Macron’s remarks earlier this week in which he said that France could recognise a Palestinian state within months. France could recognise Palestinian state ‘in June’: Macron “To this day, not a single figure in Hamas or the Palestinian…

WASHINGTON: President Donald Trump’s administration granted exclusions from steep reciprocal tariffs to smartphones, computers and some other electronics imported largely from China, providing a big break to tech companies like Apple that rely on imported products. In a notice to shippers, the U.S. Customs and Border Protection agency published a list of tariff codes excluded from the import taxes. The exclusions are retroactive to 12:01 a.m EDT (0401 GMT) on April 5. The U.S. CBP listed 20 product categories, including the broad 8471 code for all computers, laptops, disc drives, and automatic data processing. It also included semiconductor devices, equipment,…

SUMY: A Russian strike on Ukraine’s northeastern city of Sumy killed at least 31 people including two children and wounded dozens on Sunday, Kyiv said, in the deadliest attack in months of Moscow’s dragging invasion. Ukraine said Russia launched ballistic missiles on Sumy’s city centre on Palm Sunday. The attack came two days after US envoy Steve Witkoff travelled to Russia to meet its leader Vladimir Putin and despite US President Donald Trump urging Moscow to end the war. Sumy lies close to the Russian border and has come under increasing attack for weeks. “As of 13:40 (1040GMT), 31 people…

Russia’s air defence units destroyed 12 Ukrainian drones over the Rostov region and one over the region of Belgorod, its defence ministry said on Sunday on social media. Russia launches scores of drones on Ukraine, four people injured, Kyiv says

KABUL: Afghanistan’s Supreme Court rejected on Saturday condemnation by the United Nations of the Taliban’s use of capital punishment, a day after four convicted murderers were publicly executed. The executions at sports stadiums in front of large crowds in three provinces on Friday brought to 10 the number of men put to death since the Taliban swept back to power in Afghanistan in 2021, according to an AFP tally. Law and order is central to the severe ideology of the Taliban and public executions were common during their first rule from 1996 to 2001. Supreme Court spokesman Abdul Rahim Rashid…

DUBAI: Iran and the U.S. held “positive” and “constructive” talks in Oman on Saturday and agreed to reconvene next week, both sides said, a dialogue meant to address Tehran’s escalating nuclear programme with President Donald Trump threatening military action if there is no deal. “I think we are very close to a basis for negotiations and if we can conclude this basis next week, we’ll have gone a long way and will be able to start real discussions based on that,” Iranian Foreign Minister Abbas Araqchi told state television. Araqchi said the talks – a first between Iran and a…

PORT SUDAN: More than 100 people, including 20 children, are feared dead in Sudan following paramilitary attacks on the besieged Darfur city of El-Fasher and two nearby famine-hit camps, the United Nations said on Saturday. The paramilitary Rapid Support Forces, at war with the regular army since April 2023, launched “coordinated ground and aerial assaults” on Friday on El-Fasher and the Zamzam and Abou Shouk displacement camps, the UN Office for the Coordination of Humanitarian Affairs said. In recent weeks, the paramilitaries have stepped up their attacks on El-Fasher – the only state capital in Darfur still outside their control…