Sterling, yen dragged by fiscal and political worries
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in...
South Korean President Lee Jae Myung and U.S. President Donald Trump will hold their first summit on 25 August in Washington to discuss ways to deepen their alliance and expand cooperation in economic security, according to Lee’s office.
Elected in June’s snap election, Lee has prioritized steering his export-dependent economy through shifts in the global trade environment driven by Trump’s tariff policies.
Presidential spokesperson Kang Yu-jung said the leaders will explore transforming the U.S.–South Korea alliance into a 'comprehensive strategic alliance of the future' in response to evolving global security and economic conditions.
The summit is expected to focus on advancing cooperation in manufacturing sectors such as semiconductors, batteries, shipbuilding, as well as in critical minerals and technology.
The meeting follows a tariff deal reached in July, which reduced Trump’s planned duties on South Korean goods to 15%.
In return, Trump has claimed that Seoul will unveil $350 billion in investments during the summit, though South Korean officials have offered differing accounts.
Unresolved issues, including non-tariff barriers and currency matters, could still spark disputes.
Defence costs are also likely to be on the table. Trump has long argued that South Korea should pay more toward the stationing of around 28,500 American troops in the country, a legacy of the Korean War.
Reports suggest Washington may push Seoul to boost defence spending from 2.6% to 3.8% of GDP and increase its annual contribution to U.S. troop costs.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Ukraine’s air defence systems were activated in Kyiv on Wednesday as the capital came under a new Russian air attack. Authorities urged residents to remain in shelters during the strikes.
China launched its largest military parade on Wednesday, showcasing growing firepower as President Xi Jinping sought to project Beijing’s role on the global stage. Russian President Vladimir Putin and North Korean leader Kim Jong Un were among the leaders attending at Tiananmen Square.
China held its largest-ever military parade on Wednesday, showcasing its growing military power and geopolitical influence as President Xi Jinping positions Beijing as a custodian of the post-U.S. international order.
U.S. forces carried out a precision strike on a suspected transnational drug vessel in the southern Caribbean, killing all 11 people aboard, President Donald Trump and the Pentagon confirmed on Tuesday.
Moscow maintains that negotiations between Russia and Ukraine should continue, but stresses that progress is only possible if what it calls the “new territorial realities” are acknowledged.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment