
Plea to name submarine after freedom fighter Abid Hasan Safrani
Ismat Mehdi, who is Safrani's niece, has written to Chief of Naval Staff Admiral Dinesh K. Tripathi, requesting him to name a submarine after the freedom fighter. Prof. Ismat recalled that Major Safrani was Netaji's companion on the historic voyage aboard a submarine from Germany to Sumatra. En route, they boarded a Japanese submarine.
'It is for this reason that I request naming one of the submarines as INS Safrani,' she wrote.
In his reply, Admiral Tripathi expressed his gratitude to Prof. Ismat for suggesting the name. 'Indian Navy deeply values the contributions made by our freedom fighters to the Indian Freedom movement including that of Shri Abid Hasan Safrani. Your suggestion has been duly noted and forwarded to the concerned authority for consideration, subject to established guidelines,' he wrote.
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NDTV
2 hours ago
- NDTV
Trump's First Five Trade Deals Ahead Of August 1 Deadline
France: Japan and the Philippines take to five the number of countries that have concluded trade deals with the United States ahead of an August 1 deadline set by President Donald Trump to avoid punitive tariff rates. The agreed levies are often higher than the new base rate of 10 percent that the United States has applied to most countries since April, but far less than the levels the Trump administration has threatened to impose if no deal is reached. While many details remain to be negotiated under the deals, it is clear countries made considerable concessions to reach an agreement with the United States. Japan: 15% Under the terms of the trade deal with Japan that Trump called "massive", the country's exports will be taxed at 15 percent instead of the threatened 25 percent rate. Crucially, Tokyo managed to have an existing and painful 25 percent tariff on its automobiles, an industry accounting for eight percent of Japanese jobs, cut to 15 percent. Moody's Analytics analyst Stefan Angrick said 15 percent was still much higher than the low single-digit rates in effect before Trump returned to the White House. "Relative to that it's not exactly good news," he noted. "I think 15 percent is a much, much higher tariff rate than many, many were expecting. And it's important to keep that in mind." The 50 percent tariffs on Japanese steel and aluminium will continue to apply. The White House said that under the deal, Japan will make $550 billion in investments in the United States. These will be in areas including energy infrastructure, semiconductor and drug manufacturing, the mining and production of critical minerals, as well as commercial and military shipbuilding. Washington said the United States will retain 90 percent of the profits from these investments and that Japan will buy $8 billion worth of US goods, including farming produce, aviation fuel and 100 Boeing planes. The White House also said Japan will lift "longstanding restrictions" on US cars and trucks -- which sell poorly in Japan -- and boost US rice imports by 75 percent. "The magnitude of the concessions made by the Japanese government could make one fear very complicated negotiations with others like the European Union," said analyst Bastien Drut at CPR Asset Management in Paris. Philippines: 19% Under an accord announced by the White House, the Philippines obtained a tariff reduction of one percentage point on its goods entering the United States. Products from the Southeast Asian country, a major exporter of high-tech items and apparel, will face a 19 percent levy. Britain: 10% on average London and Washington concluded a deal in May that sees a 27.5 percent tariff rate on cars dropped to 10 percent for the first 100,000 vehicles per year, which is a big win for Jaguar Land Rover. The deal also benefits the British aerospace sector, in particular jet engine manufacturer Rolls Royce, which won a tariff exemption. London is still negotiating exemptions for its steel and aluminium products from the 25 percent rate in force. But Britain had to open its market further to US ethanol and beef. The rest of its products are subject to the 10 percent base rate. Vietnam: 20% Vietnam reached a deal at the beginning of July with the United States, its main export market for products including clothing and shoes, that will see its shipments subject to a 20 percent tariff, instead of the threatened 46 percent rate. But a 40 percent tariff will hit goods passing through the country to circumvent steeper trade barriers. US goods won't face any tariffs to enter Vietnam. Indonesia: 19% Under the deal reached last week, Indonesian goods entering the United States will be hit with a 19 percent tariff, lower than the threatened rate of 32 percent. Certain Indonesian goods not available in the United States could face even lower rates. According to Washington, nearly all US goods will be able to enter Indonesia tariff free. Moreover, it said Jakarta had agreed to recognise US standards for car and pharmaceutical imports. It also agreed to drop an effort to tax data flows and ease export restrictions on critical minerals. The deal followed Indonesia making concessions earlier in July with pledges to buy more US agricultural goods and oil.


Economic Times
3 hours ago
- Economic Times
India trade deal likely will get shifted to September 2, the due date for decision on Russian oil as well: Ajay Bagga
Market expert Ajay Bagga anticipates trade deals, like those between the UK and Japan, to boost markets. Several Asian countries are pursuing similar agreements, while Korea has engaged with the US. Bagga notes that India might receive an extension on a Russian oil decision, potentially leading to a trade deal with the US. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads , Market Expert, says trade deals are anticipated to boost markets. The UK and Japan deals are inspiring others. Indonesia, Philippines, and Vietnam already have deals. Malaysia and Thailand are aiming for deals this week. Korea has engaged with the US. A Russian oil decision is expected on September 2. India might get an extension until it is a very pleasant surprise and a very welcome move. We have seen the action happening across Asian markets. Even though Europe opened up, Europe is also in a celebratory mode. Directionally, it is pointing towards more deals coming and hopefully Europe and India both will be able to get a deal done. Overall, 10 days back, it looked a very dismal picture as far as Japan was concerned. In fact, President Trump issued letters to Korea and Japan, levying 25% tariffs on them. Japan went into elections without a deal and if this had happened last week, maybe the Liberals would have got a better outcome in the upper house elections. They lost the majority in the upper house and one of the reasons apart from inflation was this policy uncertainty leading to corporates being very uncertain in terms of fresh investments and consumers being very uncertain about safety of their timing-wise, the Japanese prime minister must be wishing that if the deal had come last week, it would have helped him a lot. Overall, it is pointing towards a more reasonable level of tariff coming onto major trade partners. So, Europe, for example, anything from 30% to 50% Trump has been talking about, but it will settle nearer to 15%. India has also discounted a 15% overall and the way the UK-India FDA has worked out, we might get something like that with the US as well with foreign cars coming in at a very reduced 10%, opening up some of the agricultural produce where we are already importing from the US and also a lot of goods being opened UK deal is giving some ideas. As is the Japan deal. With Indonesia, Philippines, and Vietnam having cracked deals, Malaysia and Thailand are now looking at cracking deals this week. Korea has sent a delegation to the US. So, hopes are high and it will be a very strong catalyst for our markets. It would not happen by the 1st August deadline and the next two days are critical because the US customs will need about a week to update their computers with the new tariff deal. So, nothing will happen after 25th next 2-3 days are critical. We will get some news flow, some deals happening. India will get one month more and September 2 is the date for the Russian oil decision as well. So, probably India will get shifted to September 2 and when the Americans are here next month, probably we will get some kind of a deal coming on is amazing that institutions and promoters have been lightening their holdings and the Indian retail via the DIIs which have been absorbing all of it. So, quite remarkable. Normally we would be worried when insiders are selling. They obviously are the most well-informed about the health of the companies, but this time around, we have seen promoters selling off nearly Rs 150,000 crore in QIPs, and OFS (offers for sale) coming the good news is there is a lot of liquidity in the market which is absorbing both primary offerings in the market with a lot more IPOs being scheduled for the second half and this promoter selling that we have seen has not had a bad impact on the market. Yes, if it was not there and this Rs 150,000 crore was coming into the secondary market, we would probably have crossed the September all-time highs already. So, it has just been postponed. But the good news is that the impact cost has not been that a week or so, we see some impact on the stocks and then fresh buying starts again. So, it is a function of the elevated valuations where promoters are cashing out some of their chips but there is retail money on the sides which is absorbing all of it.
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First Post
3 hours ago
- First Post
How decline of PM Ishiba's LDP reflects ‘Trump effect' on Japan
The Trump effect—embodied in both American policy and its global ideological footprint—has found fertile ground in Japan's political soil read more The ruling coalition in Japan, comprising the Liberal Democratic Party (LDP) and its junior partner, Komeito, suffered a significant political setback in the recent Upper House elections, reducing them to a minority status. This follows their earlier disappointing performance in the October 2024 Lower House elections, which had already cost them a majority. As it stands, the coalition now finds itself in the minority in both chambers of the National Diet, a rare and politically precarious position that may foreshadow deeper shifts in Japan's political landscape. STORY CONTINUES BELOW THIS AD Of the 125 Upper House seats contested, 124 were regular seats, while one was a by-election. The electoral system gives voters two votes: one for a candidate in their local constituency and another for a political party through proportional representation. Fifty of the seats were filled via the latter method, with the remaining 75 chosen by direct constituency vote. Prior to the election, the LDP-Komeito coalition held 75 uncontested seats. Their target was modest: secure at least 50 seats out of the 125 up for grabs, enough to maintain a slim majority. However, the results fell short. The coalition won only 47 seats, three fewer than needed for a majority. The LDP, under Prime Minister Shigeru Ishiba, lost 13 seats, while Komeito dropped six. Meanwhile, the opposition bloc made substantial gains, securing a combined total of 78 seats. Rising Discontent and Economic Anxiety Much of the disillusionment with the ruling coalition centres around economic frustrations. Inflation, long dormant in Japan, has resurfaced, now hovering above 3 per cent. The cost of basic necessities such as rice has doubled in the past year, and a consumption tax of 10 per cent continues to weigh heavily on consumers. Wages, by contrast, have remained stagnant, leaving many Japanese citizens struggling to maintain their standard of living. This economic squeeze has particularly affected young voters and families, prompting questions about the government's ability to manage the economy. Amid rising living costs and growing inequality, the LDP's campaign promises appeared out of touch with the daily realities of many voters. The economic unease also intersected with cultural and social anxieties, particularly regarding Japan's increasing reliance on foreign labour. The number of foreign workers has surged to around 3.8 million, roughly 3 per cent of the population, driven largely by the country's ageing demographics and labour shortages. While some view this influx as a necessary adaptation, others see it as a threat to national identity and social cohesion. STORY CONTINUES BELOW THIS AD Rise of Sanseito and Populist Nationalism In this climate of dissatisfaction and uncertainty, smaller and newer political parties gained ground. One of the most striking developments in the election was the rise of the right-wing populist party Sanseito. Founded only a few years ago, Sanseito increased its representation from a single seat to 15 in the Upper House, marking a major breakthrough for Japan's radical right. Sanseito's success was built on a staunchly nationalist and anti-globalist platform. Its leader, Sohei Kamiya, frequently invoked the rhetoric and political strategies of US President Donald Trump. He called for a halt to immigration, restrictions on foreign workers, and an economic policy that would put 'Japan First'. His campaign framed foreign labour not as a solution to economic issues but as a scapegoat for them, blaming multinational corporations and globalist elites for Japan's domestic struggles. In addition to opposing immigration, Kamiya has proposed a fully independent Japanese defence force, free from US military dependency, and called for resisting American trade demands, especially in sensitive sectors like rice, beef, and automobiles. Ironically, while he borrows heavily from Trump's playbook, Kamiya positions himself as a defender of Japanese sovereignty against Trump policies that have been seen as exploitative or unfair toward Japan. STORY CONTINUES BELOW THIS AD The appeal of Sanseito's messaging, particularly among younger voters, reflects growing frustration with the LDP's perceived ineffectiveness and over-accommodation of foreign pressures. Disenchanted by stagnant wages, mounting taxes, and a sense that their voices are not heard, many young people turned away from the political mainstream and toward populist alternatives. 'Trump Effect' A key question arising from the election results is whether the so-called 'Trump effect' played a role in undermining Prime Minister Ishiba's leadership. While Ishiba has not openly opposed US influence, he has had to walk a diplomatic tightrope in recent months. His administration has faced increasing pressure from the Trump administration to increase Japan's defence spending beyond 3.5 per cent of GDP, a highly sensitive topic for many Japanese voters. Although Japan has already boosted its military budget, purchased American defence equipment, and increased its contributions to US bases on Japanese soil, the Trump administration has continued to impose punitive trade tariffs. Japan, alongside South Korea, is subject to a 25 per cent tariff bracket under Trump's trade regime, based on claims that Japan has not sufficiently opened its domestic markets, particularly in agriculture and automobiles. STORY CONTINUES BELOW THIS AD In a notable diplomatic rebuke, Japan recently cancelled a scheduled '2+2' security dialogue with the US. While Foreign Minister Iwaya Takeshi did attend a Quad summit in Washington, the Ishiba administration had hoped that a strong showing in the Upper House elections would enhance its leverage in ongoing trade negotiations with both the US and EU. That hope, however, now appears dashed. Post elections, Ishiba said regarding the tariff negotiations with the US, he wanted to talk in person with President Donald Trump as soon as possible to realise an agreement that is mutually beneficial. A Crisis of Confidence Public confidence in Ishiba's ability to manage relations with the US and restore Japan's economic vitality has deteriorated. A recent national poll revealed that 70 per cent of Japanese citizens lack faith in Tokyo's ability to secure favourable outcomes in its negotiations with Washington. Only 22 per cent remain optimistic. This broader sense of unease has translated into declining approval ratings for the prime minister. Ishiba's approval dropped by 6.2 percentage points in July to just 20.8 per cent, the lowest since he assumed office in October. Meanwhile, his disapproval rating climbed to 55 per cent, the highest of his tenure. STORY CONTINUES BELOW THIS AD Political analysts argue that the rise of Sanseito, and other, more moderately nationalist parties is part of a larger shift in Japanese politics. Since the assassination of former Prime Minister Shinzo Abe three years ago, Japan's nationalist right has lacked a unifying figure. Abe had long acted as a buffer between Japan's pragmatic conservatism and its more radical nationalist fringes. In his absence, political space has opened for new actors to challenge the traditional dominance of the LDP. These parties, while varying in extremity, often focus on a similar set of grievances: inflation, declining real incomes, tax burdens on the young to support an ageing population, and an increasingly lopsided alliance with the United States. Sanseito, in particular, has captured this mood of discontent and used it to craft a narrative that resonates with disillusioned voters. The party's momentum appears to be growing. Last month, it gained an additional seat when a member of another opposition party defected. It had also won three Lower House seats in a by-election in Tokyo last year, further solidifying its presence on the national stage. STORY CONTINUES BELOW THIS AD Looking Ahead While the ruling coalition lost its majority, the LDP remains the largest political force with a total of 101 seats. 'We must understand the responsibility as the leading party and the one we have to fulfil for the nation,' Ishiba said. He also signalled his intention to keep his position after the election, saying, 'I am keenly aware of [my] responsibilities.' Japan's political future is now uncertain. The ruling coalition's dual minority status will complicate legislative efforts and make it harder to implement any coherent agenda. Ishiba's government will likely face increasing internal dissent, coalition instability, and challenges from both the left and right. Whether this leads to early elections, leadership change, or further fragmentation of Japan's political landscape remains to be seen. But one thing is clear: the 'Trump effect'—embodied in both American policy and its global ideological footprint—has found fertile ground in Japan's political soil. As Japan moves forward, the electorate's shift toward populism, nationalism, and economic protectionism may redefine the country's political trajectory—and its place in the world. STORY CONTINUES BELOW THIS AD The author is a former ambassador to Germany, Indonesia, Ethiopia, ASEAN and the African Union. He tweets @AmbGurjitSingh. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.