U.S. Consulate In Iraq Targeted; HUGE Explosion Caught On Camera Near Mission In Erbil
/ Jun 16, 2025, 09:40AM IST
A shocking drone attack occurred near the U.S. Consulate in Erbil, the capital of Iraq's Kurdistan region, just hours after a threat from the pro-Iran militia Kataib Hezbollah. Saudi Arabia's Al Hadath network reported that the drone was aimed directly at the American mission. Although the drone was intercepted, dramatic video footage captured a massive explosion moments after the attempted strike. The full extent of the damage has yet to be assessed, and regional tensions continue to rise amid growing threats to U.S. assets in the Middle East.
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Indian Express
32 minutes ago
- Indian Express
As stablecoins gets greenlit in the US, India's chance to lead this fintech space
A quiet but powerful shift is taking place in the global financial system — and it's happening through the world of fintech. Last month, the US Senate passed the GENIUS Act, a landmark legislation that gives American banks and even large companies like Amazon and Walmart the legal green light to issue digital dollars — known as stablecoins — on public blockchains. What are stablecoins and why do they matter? These stablecoins aren't just another form of cryptocurrency. They are fully backed, 1:1, by US government Treasury Bills. In simple terms, this means a bank in the US would be able to issue a digital version of the dollar, backed by government bonds, and it can be used for payments across the world. This brings together the trust of government securities and the speed and transparency of blockchain technology. What's important is that this Bill passed with a rare bipartisan majority — 68 votes in favour — shows just how seriously the US sees this as part of its economic and strategic playbook. The goal is clear: Make the dollar stronger, reduce borrowing costs, and lead the transition into a digital-first financial system. Secretary of the Treasury Scott Bessent put it clearly: 'Stablecoins could end up being the largest buyers of US Treasury Bills. If you're using a stablecoin in Nigeria, it's backed by the US dollar.' This is smart, digital diplomacy. As more stablecoins circulate globally, demand for US debt increases, borrowing costs go down, and the dollar's dominance is reinforced in the digital era. India's opportunity: Adapt to lead Now let's look at this from India's point of view. The RBI has expressed valid concerns about unregulated cryptocurrencies, particularly from a monetary policy and consumer protection standpoint. But what the US is doing is different — it's about using the blockchain infrastructure to deepen public trust in digital money, without compromising on sovereignty or fiscal control. India, too, has ambitions to reduce its government borrowing costs — from around 6 per cent today to levels closer to those of developed economies, around 3 per cent. But our conventional tools — like rate cuts — are limited, because of their inflationary consequences which erode the value of household savings. Like the US, we too can explore market-based mechanisms like tokenised government debt — under regulatory oversight — as a way forward. At the same time, we must recognise the bigger picture: The stablecoin ecosystem isn't just about finance — it's about the future of fintech. It touches payments, digital wallets, eKYC, blockchain infrastructure, cybersecurity, tax compliance, and new forms of savings and investing. We are already seeing this globally. Emirates Airlines, the UAE's flagship carrier, is now ready to accept cryptocurrencies as a form of payment — proof that digital assets are not confined to speculation, but are actively being integrated into real-world commerce. This is no longer a fringe industry — it is becoming the new face of financial services and digital commerce. India's youth are global leaders in digital innovation. From UPI to Aadhaar to ONDC, we've built the rails. But when it comes to blockchain-based financial products, many of our most talented developers and startups find themselves in regulatory limbo — either operating from abroad or working under the radar. This is a clear opportunity to get them back into the mainstream and contribute in national interest. The Supreme Court itself has recently called upon the need to regulate the sector that is otherwise turning parts of the payments sphere into a 'refined form of hawala.' Without a clear policy, legitimate fintech innovation remains stuck at the margins, while the grey areas expand. Regulation is not just about control — it's about creating legitimacy, accountability, and scale. With proper regulation, this space could unlock high-paying, high-skilled jobs, attract domestic and foreign investment, and formalise an industry already brimming with Indian talent. Our startups should not have to relocate to Singapore or Dubai to build globally competitive products. They should be able to do it from Delhi, Bengaluru, Hyderabad, and Mumbai — with the full support of Indian law. India must lead, not lag Today, less than 15 per cent of Indian households invest through formal market channels like mutual funds. Most of our household savings still sit in fixed deposits or gold. With safe, regulated digital assets backed by sovereign bonds, we can widen financial inclusion, offer better returns, and deepen our capital markets while potentially reigning in inflation that tends to erode the value of household savings over the long-term. The Department of Economic Affairs is expected to release its long-awaited consultation paper on crypto regulation soon. That presents a historic opportunity. We can craft a framework that reflects Indian values — trust, transparency, and stability — while embracing the potential of fintech to create jobs, strengthen the rupee, and modernise our economy. The world is not waiting. The US is using stablecoins to lower its borrowing costs and secure its global financial influence. India has a clear window of opportunity here to adapt and then, lead. A strong, forward-looking regulatory framework will ensure that our fintech future is built in India, for India, and for the world. The writer is national spokesperson, BJP
Mint
37 minutes ago
- Mint
Trump's copper tariff: Twisted logic won't help re-industrialize America
US President Donald Trump's proposed 50% tariff on copper imports is emblematic of his administration's incoherent approach to economic policy: Soaked in nostalgia for America's industrial past, it pursues strategies that will make it harder for US manufacturers to succeed now and in the future. Trump noted that copper 'is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many." So why would you then want to raise taxes on copper? Increasing the price Americans pay for copper makes the US a less desirable location for building aircraft, ceding advantage to competing producers in Europe, Brazil and Canada. It makes it harder to establish a domestic semiconductor manufacturing industry. It exacerbates the already dire state of the US shipbuilding industry, which is wholly reliant on protectionist policies. Also Read: Copper offers India a glowing hot opportunity: Now for a strategy The strategic value of copper might be a basis for protectionism if the US were getting its copper from hostile or unstable countries. But copper is not a rare earth mineral for which the US must rely on Chinese suppliers, nor is it like oil in the pre-fracking era, when the US had to import it from questionable regimes in the Middle East. The majority of US copper imports come from Chile, and the next two major suppliers are Canada and Peru. Meanwhile, America also has a robust domestic copper industry, which accounts for about half the copper used in the US. The majority of this copper comes from the swing state of Arizona, which may offer a narrow partisan rationale for copper protectionism. But there is no strategic problem with importing copper from friendly countries in the Western Hemisphere— and every reason to worry that deliberately raising the price of a widely used production input will hamper US competitiveness in crucial industries. This is, unfortunately, not an unusual consequence of Trump's trade policy: By applying taxes on intermediate goods, he is encouraging the US to specialize in resource extraction and primary commodities at the expense of complicated manufactured goods. Also Read: American puzzle: Trump's tariffs have resulted in an inflation paradox 'Industrial policy' functions by moving a nation's economy up the value chain. In the early days of the American Republic, for example, Alexander Hamilton worried that the US would continue to be a de facto economic colony of Europe. As a sparsely populated nation with abundant natural resources, a totally unregulated market might have caused America to specialize in exporting raw materials to Europe, which would in turn export manufactured goods back to America. As an alternative, he proposed protective tariffs to promote the growth of US industry. Trump borrows his own tariffs from the Hamiltonian tradition, but completely misses the larger logic of the programme and the altered nature of the modern economy. Over time, as the world has become richer and shipping has become cheaper, the cutting edge of manufacturing has become increasingly complicated. These days it's common to assemble a finished product from parts made in countries all around the world, with each part itself containing a staggering array of raw materials. Countries get richer by specializing at the more complex end of the spectrum. To the extent that you can boost US natural-resource production by eliminating low-benefit regulatory barriers, that's a win. But boosting the US copper-extraction industry at the expense of US copper-using industries is a recipe for de-industrialization. And much the same applies to Trump's obsession with protectionism for industries like steel and aluminium. For the US to be a manufacturing powerhouse, its industries need access to the cheapest possible inputs. Also Read: Chinese history shows how a closed economy could squander a nation's greatness It's also worth considering that even though 19th-century pro-industrialization politicians favoured tariffs, Trump is likely overrating their importance in promoting the growth of factories. One important manufacturing input, after all, is workers. The kind of quasi-open borders of the Gilded Age would probably not be a major boost to US manufacturing today. But a serious industrial policy would consider the case for a visa programme for skilled workers with experience in fields such as semiconductors, batteries and shipbuilding. At a minimum, the goal should be to avoid actions that make things worse. Copper is important because it's used to make other stuff. The goal of US trade policy, not to say industrial policy, should be to help America become a better place to make stuff that the world wants. Trump's nostalgia economics is pushing the US further from that goal. ©Bloomberg The author is a columnist for Bloomberg Opinion.
Time of India
40 minutes ago
- Time of India
News anchor Jodi Huisentruit 'vanished' 30 years ago and now a documentary reveals chilling witness' claim. Where to watch?
American news anchor Jodi Huisentruit has been missing for 30 years. Jodi was on her way to work shortly after 4 a.m. on the morning on June 27, 1995, when authorities believe she was violently abducted. Now, a three-part documentary on Jodi Huisentruit reveals a chilling claim by a witness. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Jodi Huisentruit docuseries What happened to Jodi Huisentruit still remains a mystery to date. The 27-year-old from Long Prairie, Minnestosa, was a morning anchor at KIMT-TV, serving north central Iowa and southeastern Minnesota. Everyday, Jodi Huisentruit was up before dawn every day for Daybreak at 6 am and she aspired to go June 27, 1995, DayBreak producer Amy Kuns called Huisentruit at home shortly after 4 am to see why she wasn't at work yet, as she was usually there closer to 3 am."I called her twice. I talked to her and woke her up that first time," Kuns remembered in a 2011 interview. "The second time, it just rang and rang. I don't remember the times. I had obviously woken her up. She asked what time it was. I told her. She said she'd be right in." She never made it to her apartment, police found signs of a struggle, including a bent key outside her car. Her disappearance was quickly ruled an abduction and over the last three decades, authorities have been unable to find her or recover her Huisentruit didn't obviously disappear into thin air. Jodi was declared dead on May 14, 2001, but, to this day, no body or any other physical trace of her has ever been search warrant sheds light that investigators placed a GPS tracker on a friend's car in 1999 and on the friend's pickup truck in 2013, according to CBS News. But the friend is yet to be charged with a crime and had been with the local TV news anchor the night before she also caught a break in 2022, when an ABC 20/20 episode on Huisentruit's disappearance led a witness to reach out to the Mason City Police Department and share information she kept secret for more than two decades, as the network highlights in the new trailer for its years after Jodi Huisentruit 'disappeared', a new three-part documentary on her disappearance is set to debut this week, reports Fox 9. " Her Last Broadcast : The Abduction of Jodi Huisentruit" is a new documentary on the disappearance of the Iowa news anchor, which will also take a look at the case, including a new tip that led authorities to search a property in Minnesota last Jodi Huisentruit documentary is being produced by ABC News Studios. The new series, 'Her Last Broadcast: The Abduction of Jodi Huisentruit', includes more than 20 new interviews with family members, detectives, witnesses and friends of Jodi Huisentruit. ABC News Studios in a press release said the series also promises "never-before-seen material and new, groundbreaking information" about the case."An exploration of the power of persistence, public memory, and journalism, Her Last Broadcast: The Abduction of Jodi Huisentruit breathes new life into one of the country's most haunting unsolved mysteries," the network says. "Her Last Broadcast: The Abduction of Jodi Huisentruit" will debut on Hulu on Tuesday, July the 30th anniversary of Huisentruit's disappearance in late June, an online group dedicated to finding the truth about what happened to the television news anchor shared a statement demanding the person responsible come forward and explain what happened."[Thirty] years. It's time,' the group Find Jodi said, according to CBS. 'Don't make Jodi Huisentruit's family and friends wait another year for you to come forward. They need answers and justice.'
