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Straits Times
9 minutes ago
- Straits Times
Singapore and India conclude 5-day maritime exercise
Sign up now: Get ST's newsletters delivered to your inbox The Republic of Singapore Navy's RSS Supreme and RSS Vigilance sailing in formation with the Indian Navy's INS Satpura during the sea phase of the Singapore-Indian Maritime Bilateral Exercise 2025. SINGAPORE - The Singapore and Indian navies concluded a five-day bilateral exercise on Aug 1 that involved ships from both navies and aircraft from the Republic of Singapore Air Force (RSAF). The Singapore-India Maritime Bilateral Exercise (Simbex) was held on shore at the RSS Singapura - Changi Naval Base , and at sea in the southern reaches of the South China Sea , said the Ministry of Defence (Mindef) on Aug 2 . This was the 32nd edition of Simbex, which was first held in 1994 . It takes place at a significant moment as Singapore and India mark the 60th anniversary of diplomatic ties, Mindef added. The exercise saw the Republic of Singapore Navy (RSN) deploy a Formidable-class frigate RSS Supreme and a Victory-class missile corvette RSS Vigilance , which was supported by cargo ship MV Mentor . A S-70B naval helicopter , two Fokker-50 maritime patrol aircraft and two F-15SG fighter jets from the RSAF were also involved. The Indian Navy (IN) participated in the exercise with a Shivalik-class frigate INS Satpura . During the exercise's shore phase, both navies participated in joint planning, simulator training, professional exchanges and sports. They also shared best practices related to maritime air operations and compliant boarding procedures over subject matter expert exchanges, said Mindef. At sea, the participating forces conducted complex warfare serials, including gunnery firing, air defence exercises and maritime security drills. This phase concluded with a sail-past by ships from both navies. Mindef said the successful running of Simbex 2025 underscores the 'enduring partnership' between the IN and the RSN. The annual exercise is one of the RSN's longest running bilateral maritime exercises, and India's longest continuous bilateral naval exercise with any other country. Mindef said the complexity of Simbex has expanded over the years to incorporate elements of maritime security and exercise serials in the air, as well as surface and sub-surface domains. Lieutenant-Colonel Aaron Koh , the commanding officer of RSS Supreme , said: 'Simbex is a testament to the long-standing bilateral ties between the Republic of Singapore Navy and the Indian Navy. 'Over the years, the exercise has served as a valuable platform for generations of sailors to hone operational competencies, enhance mutual understanding and build enduring people-to-people ties.'
Straits Times
4 hours ago
- Straits Times
World economies reel from Trump's tariffs punch
Sign up now: Get ST's newsletters delivered to your inbox The tariffs are a demonstration of raw economic power that Mr Donald Trump sees putting US exporters in a stronger position. WASHINGTON - Global markets reeled on Aug 1 after President Donald Trump's tariffs barrage against nearly all US trading partners as governments looked down the barrel of a seven-day deadline before higher duties take effect. Mr Trump announced late on July 31 that dozens of economies, including the European Union , will face new tariff rates of between 10 and 41 per cent. However, implementation will be on Aug 7 rather than July 31 as previously announced, the White House said. This gives governments a window to rush to strike deals with Washington setting more favorable conditions. Neighbouring Canada, one of the biggest US trade partners, was hit with 35 per cent levies, up from 25 per cent, effective on Aug 1– but with wide-ranging, current exemptions remaining in place. The tariffs are a demonstration of raw economic power that Mr Trump sees putting US exporters in a stronger position, while encouraging domestic manufacturing by keeping out foreign imports. But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy. Stock markets in Hong Kong, London and New York slumped as they digested the turmoil, while weak US employment data added to worries. Top stories Swipe. Select. Stay informed. World Trump deploys nuclear submarines in row with Russia World 'Optimistic' Bessent says US has makings of a deal with China Asia Asia-Pacific economies welcome new US tariff rates, but concerns over extent of full impact remain Singapore Man in SAF custody after allegedly vaping on bus while in army uniform Asia 'Like me? Approach me directly, okay?': Inside a matchmaking event for China's wealthy Opinion America is tearing down another great public institution Opinion Quiet zones in public spaces can help people recharge in the city Singapore Man arrested for allegedly shoplifting twice at Changi Airport Mr Trump's actions come as debate rages over how best to steer the US economy, with the Federal Reserve this week deciding to keep interest rates unchanged, despite massive political pressure from the White House to cut. Data on Aug 1 showed US job growth missing expectations for July, while unemployment ticked up to 4.2 percent from 4.1 per cent. On Wall Street, the S&P 500 dropped 1.6 per cent, while the Nasdaq tumbled 2.2 per cent. Mr Trump raised duties on around 70 economies, from a current 10 per cent level imposed in April when he unleashed 'reciprocal' tariffs citing unfair trade practices. The new, steeper levels listed in an executive order vary by trading partner. Any goods 'transshipped' through other jurisdictions to avoid US duties would be hit with an additional 40 per cent tariff, the order said. But Mr Trump's duties also have a distinctly political flavour, with the president using separate tariffs to pressure Brazil to drop the trial of his far-right ally, former president Jair Bolsonaro. He also warned of trade consequences for Canada, which faces a different set of duties, after Prime Minister Mark Carney announced plans to recognise a Palestinian state at the UN General Assembly in September. In targeting Canada, the White House cited its failure to 'cooperate in curbing the ongoing flood of fentanyl and other illicit drugs' – although Canada is not a major source of illegal narcotics. By contrast, Mr Trump gave more time to Mexico, delaying for 90 days a threat to increase its tariffs from 25 per cent to 30 per cent. But exemptions remain for a wide range of Canadian and Mexican goods entering the United States under an existing North American trade pact. Mr Carney said his government was 'disappointed' with the latest rates hike but noted that with exclusions the US average tariff on Canadian goods remains one of the lowest among US trading partners. With questions hanging over the effectiveness of bilateral trade deals struck – including with the EU and Japan – the outcome of Mr Trump's overall plan remains uncertain. 'No doubt about it – the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II,' said Ms Wendy Cutler, senior vice president of the Asia Society Policy Institute. On Aug 1, Mr Trump said he would consider distributing a tariff 'dividend' to Americans. Notably excluded from on Aug 1's drama was China, which is in the midst of negotiations with the United States. Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but have agreed to temporarily lower these duties and are working to extend their truce. Those who managed to strike deals with Washington to avert steeper threatened levies included Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union.
Straits Times
5 hours ago
- Straits Times
Rwanda, Congo agree on outline for economic integration framework as part of peace deal, US says
WASHINGTON/PARIS - Rwanda and the Democratic Republic of Congo on Friday agreed on an outline for the regional economic integration framework, according to the U.S. State Department, as the two countries take steps toward delivering on a peace deal signed in Washington last month. The tenets agreed on Friday summarize the framework, which includes elements of cooperation on energy, infrastructure, mineral supply chains, national parks and public health. Rwanda and Congo signed a peace deal in Washington in June at talks held by U.S. President Donald Trump's administration, which aims to bring an end to fighting that has killed thousands and attract billions of dollars of Western investment to a region rich in tantalum, gold, cobalt, copper, lithium and other minerals. As part of the deal, Kinshasa and Kigali agreed to launch a regional economic integration framework within 90 days, the agreement said. A source familiar with the matter said a preliminary draft of the framework has been agreed to and there would now be an input period to get reaction from the private sector and civil society before it is finalized. The framework is planned to be signed at a meeting of heads of state at the White House. No date has been set yet for that meeting, the source said. In the Friday statement, Rwanda and Congo affirmed that each country has "full, sovereign control" over the exploitation, processing and export of its natural resources and recognized the importance of developing mineral processing and transformation capacity within each country, according to a copy seen by Reuters. Top stories Swipe. Select. Stay informed. World Trump deploys nuclear submarines in row with Russia World 'Optimistic' Bessent says US has makings of a deal with China Asia Asia-Pacific economies welcome new US tariff rates, but concerns over extent of full impact remain Singapore Man in SAF custody after allegedly vaping on bus while in army uniform Asia 'Like me? Approach me directly, okay?': Inside a matchmaking event for China's wealthy Opinion America is tearing down another great public institution Opinion Quiet zones in public spaces can help people recharge in the city Tech Reporting suspected advanced cyber attacks will provide a defence framework: Shanmugam Kinshasa views the plundering of its mineral wealth as a key driver of the conflict between its forces and Rwanda-backed M23 rebels in eastern Congo. Reuters reported in May that Congolese minerals such as tungsten, tantalum and tin, which Kinshasa has long accused neighbouring Rwanda of illegally exploiting, could be exported legitimately to Rwanda for processing under the terms of the deal being negotiated by the U.S., according to sources. The two countries are committed to ensuring that the minerals trade no longer provides funding to armed groups and to create a world-class industrial mining sector in the region, as well as to ensure better cross-border interoperability on mineral supply chains, according to the statement. They also agreed to connect new infrastructure to the U.S.-backed Lobito Corridor, underscoring Washington's aim of greater access to resources in the region and efforts to counter China. The Ruzizi III hydropower project and Lake Kivu methane exploitation were the only specific projects mentioned in the statement, despite U.S. emphasis on critical minerals. The countries said they intended to prioritize financing for Ruzizi and work together to exploit the methane gas sustainably. REUTERS
