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India has imposed a comprehensive ban on all imports from Pakistan, citing national security concerns following a deadly terrorist attack in Pahalgam, Jammu and Kashmir, which claimed the lives of at least 26 civilians, including a Nepalese tourist. The Commerce Ministry's notification prohibits the direct or indirect import or transit of goods from Pakistan, effective immediately, with any exceptions requiring government approval. This ban follows the closure of the Wagah-Attari border, the only trade route between the two countries, in the wake of the attack. Additionally, India has suspended the Indus Water Treaty, a pivotal 1960 agreement governing water-sharing, in response to what it describes as "sustained cross-border terrorism." This move could significantly impact Pakistan's water supply, affecting millions of its citizens and further straining already tense relations between the two nations. 
Published: May 03 2025, 11 ameznews.inIn a decisive victory, Prime Minister Lawrence Wong's People's Action Party (PAP) secured 87 out of 97 parliamentary seats in Singapore's General Election on Saturday, marking a significant mandate amid global economic uncertainties linked to US trade tariffs. This election, Wong's first as Prime Minister since taking office last May, saw approximately 2.6 million eligible voters cast ballots at 1,240 polling stations for 92 contested seats. The PAP, Singapore's dominant political force since independence in 1965, faced challenges from opposition parties addressing issues like the high cost of living and the increasing foreign workforce. Despite these pressures, Wong expressed gratitude for the strong mandate, pledging to honor the voters' trust. The election comes as Singapore grapples with the economic repercussions of the US-China trade war, with manufacturing activity showing signs of recession, further complicating the political landscape.
Published: May 04 2025, 2 ameznews.inBillionaire investor Warren Buffett emphasized the importance of trade over tariffs during his annual shareholder meeting for Berkshire Hathaway in Omaha, Nebraska, stating, "trade should not be a weapon." While not directly naming President Donald Trump, his comments were a clear critique of the administration's aggressive tariff policies, which analysts fear could hinder global economic growth. Buffett, who described tariffs as a "tax on goods," advocated for a cooperative approach to trade, arguing that mutual prosperity is possible and beneficial for all nations. He warned against alienating global partners, stating it is a mistake for the U.S. to assert superiority over a world of 7.5 billion people. Berkshire Hathaway reported a 14% drop in first-quarter profits, totaling $9.6 billion, yet Buffett's influence remains strong, having transformed the company into a $1 trillion conglomerate since acquiring it in the 1960s.
Published: May 03 2025, 11 pmeznews.inAustralia's Prime Minister Anthony Albanese secured a historic second term on Saturday, leveraging his pragmatic leadership style to offer stability amid the tumult of U.S. President Donald Trump's diplomacy. Initially trailing the conservative coalition in polls, Albanese's Labor government gained traction as voters grew wary of Trump's tariff threats, with Albanese emphasizing Australia's values over foreign inspiration. Following Trump's recent imposition of tariffs on Australian exports, he asserted that Australia would not compromise on critical issues like medicine pricing and child protection laws. During his first term, Albanese strengthened ties with the U.S. through a significant AUKUS submarine deal while also re-engaging diplomatically with China. Despite a tough childhood and a commitment to social justice, Albanese faced challenges, including a failed referendum on Indigenous recognition. Looking ahead to the 2025 elections, Labor promises tax cuts, support for young homebuyers, and increased funding for healthcare, echoing the reformist legacy of former Prime Minister Bob Hawke.
Published: May 03 2025, 8 pmeznews.inAnthony Albanese's ascension to Prime Minister represents a pivotal moment for Australia, offering stability in a time of global uncertainty. His leadership, shaped by a challenging upbringing in public housing, prioritizes healthcare, social justice, and Indigenous rights. During his campaign, Albanese's Labor Party proposed an A$8.5 billion boost for healthcare and tax cuts, evoking the legacy of former PM Bob Hawke. He has also committed A$368 billion to strengthen ties with the US through the AUKUS nuclear submarine pact while cautiously managing relations with China, Australia's largest trading partner. Despite a failed referendum to recognize Indigenous Australians in the constitution, Albanese remains dedicated to their cause. As he embarks on his second term, he faces the dual challenges of fostering international relations and addressing domestic issues, all while maintaining a promise of kindness and pragmatic decision-making.
Published: May 03 2025, 9 pmeznews.inChina has refuted claims that it mandates companies to surrender data, following TikTok's imposition of a €530 million ($600 million) fine by the European Union for mishandling personal data. The fine, the second-largest ever levied by the EU, stems from TikTok's transfer of user data from Europe to China without adequate protections against access by Chinese authorities. TikTok, a subsidiary of ByteDance, plans to appeal the ruling. China's foreign ministry emphasized that the country does not compel illegal data collection or storage and urged the EU and Ireland, where TikTok's European headquarters is located, to foster a fair business environment. Amid ongoing scrutiny over national security and misinformation concerns, TikTok faces increasing pressure in the U.S., where legislation has been enacted requiring ByteDance to divest control of the platform or face a ban.
Published: May 03 2025, 7 pmeznews.inTensions between India and Pakistan have escalated following the Pahalgam terrorist attack on April 22, which resulted in 26 civilian deaths. In response, Pakistan conducted a successful test of its Abdali Weapon System, a surface-to-surface ballistic missile with a range of 450 kilometres, on May 3 during a military exercise named Exercise INDUS. The missile, developed by Pakistan's Space and Upper Atmosphere Research Commission, is designed for easy transport and storage. The Pakistani government stated the test aimed to validate the missile's technical capabilities and combat readiness. Meanwhile, India has reacted by scrapping the Indus Waters Treaty, expelling Pakistani nationals, and downgrading diplomatic relations. Pakistan's Information Minister claimed India was planning a military strike, a statement that has not materialized. With both nations on high alert, the situation remains precarious, as military capabilities and regional stability are closely monitored.
Published: May 03 2025, 5 pmeznews.inDmitry Medvedev, deputy chairman of Russia's Security Council, issued a stark warning on Saturday, suggesting that Kyiv's survival past May 10 could not be assured if Ukraine were to attack Moscow during the World War Two victory celebrations on May 9. This statement follows Russian President Vladimir Putin's announcement of a three-day ceasefire to mark the 80th anniversary of the Soviet Union's victory over Nazi Germany, scheduled for May 8 to May 10. In response, Ukrainian President Volodymyr Zelensky expressed willingness for a ceasefire, but only if it lasted 30 days, a proposal Putin dismissed. Zelensky also emphasized that Ukraine could not guarantee the safety of foreign dignitaries attending the May 9 parade in Moscow, asserting that Russia bears responsibility for security on its territory. Medvedev criticized Zelensky's remarks as a "verbal provocation," underscoring the heightened tensions surrounding the upcoming commemorative events.
Published: May 03 2025, 5 pmeznews.inPrime Minister Anthony Albanese has declared victory in the Australian general election held on Saturday, promising to guide the nation through ongoing global uncertainties. Following the announcement by ABC's Antony Green, jubilant scenes erupted at Labor headquarters, with supporters celebrating and chanting "Albo, Albo, Albo." In his victory speech delivered to a crowd in Sydney, Albanese expressed gratitude to the Australian people for the opportunity to continue leading what he termed "the best nation on Earth." Political analysts noted that Albanese's steady and measured approach to leadership resonated with voters amid a period marked by global turmoil, suggesting that this stability played a crucial role in his electoral success.
Published: May 03 2025, 6 pmeznews.inThe world's largest cryptocurrency event, Token2049, took place at the Madinat Jumeirah Resort in Dubai from April 30 to May 1, attracting 15,000 attendees from over 160 countries and featuring more than 200 speakers, including industry leaders and policymakers. The vibrant atmosphere included playful costumes, such as attendees dressed as giant whales in astronaut suits, and a lively "Money Rain" event where crypto-printed banknotes were launched into the air. Highlights included a desert dance party with VIPs enjoying $500 champagne and a zipline over the resort's canals. Following the event, a parade of luxury cars transported guests to an afterparty, further enhancing Dubai's reputation as a burgeoning crypto hub. With major companies like Binance establishing offices in the city and initiatives like Emirates NBD's crypto trading services, Dubai is positioning itself as a global leader in the cryptocurrency sector, attracting investors with its favourable regulatory environment and low taxes.
Published: May 03 2025, 4 pmeznews.inJaguar Land Rover (JLR) has resumed shipments of its vehicles to the United States after a month-long pause due to President Donald Trump's tariffs on imported cars. The first shipments departed Britain on Wednesday, marking a significant move for the company, which is owned by India's Tata Motors. In April, JLR temporarily halted exports to assess the impact of the 25% tariff, enacted on April 3, and to explore ways to mitigate costs. Meanwhile, Trump announced plans to ease the burden of these tariffs through an executive order that would provide credits and relief from other levies. In a related development, Aston Martin's CEO Adrian Hallmark revealed that the company would share the tariff costs with customers and reduce its US inventory. The UK automotive industry, which supports 200,000 jobs, relies heavily on the US market, which accounts for nearly 20% of British car exports.
Published: May 03 2025, 4 pm
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