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Straits Times
a day ago
- Business
- Straits Times
Marcos heads to White House with some Washington momentum
US Defense Secretary Pete Hegseth meets with Philippine President Ferdinand Marcos Jr. at the Pentagon, in Washington, on July 21. WASHINGTON - Philippine President Ferdinand Marcos Jr. heralded deeper ties with the US after meeting top officials in Washington. The test of whether that's true will come on July 22 when President Donald Trump welcomes him to the White House. That Oval Office encounter will take place after visits by several foreign leaders eager to make deals before the US-imposed Aug 1 tariff deadline. On July 21, Mr Marcos went to both the Pentagon and State Department as his government tries to slash pending 20 per cent tariffs and bolster the bilateral security and investment relationship between the two allies. 'Our storied alliance has never been stronger or more essential than it is today and together we remain committed to the Mutual Defense Treaty,' Defense Secretary Pete Hegseth said in remarks alongside Mr Marcos. He called the Asia-Pacific 'our priority theater' and said the US was 'proud to support our mutual economic vitality, including your efforts to modernise your armed forces and collective defense'. Mr Hegseth also lauded 'remarkable strides' in the relationship since his March visit to the region, pointing to expanded joint military exercises in and around the South China Sea as well as deploying cutting-edge missiles and unmanned systems, and revitalising defense industrial bases on both sides. Mr Marcos spoke of how 'you cannot limit Philippine-American relationship to one dimension' and said Mr Hegseth's March visit 'sent a very clear message about our continuing partnership and our continuing understanding of the mutual defense treaty'. 'Friends, partners' Later on July 21, Mr Marcos and Secretary of State Marco Rubio celebrated a relationship as 'friends, partners, and allies' committed to regular high-level engagement, according to State spokesperson Tammy Bruce. The two officials discussed a range of security issues and also addressed investment, including building on the Luzon Economic Corridor – an initiative started under President Joe Biden. Above all the minister-level diplomacy, however, looms the always-present possibility that Mr Trump could torpedo the script when the two presidents sit in the Oval Office. Mr Marcos has described the higher 20 per cent tariff rate as 'very severe', and said he would push for a trade deal with the US to lower the duty. He is the latest global leader to face a Trump administration ready to economically punish security allies, injecting stress into long and venerable relationships. Japan and South Korea, for instance, have strong ties to the US, but that didn't stop Mr Trump from threatening higher duties. 'With security deeply intertwined with economics, punitive measures from the United States will not inspire confidence in US allies and will perpetuate doubt at the United States' willingness to help Asian economies buffer against Chinese economic coercion,' said Mr Japhet Quitzon, associate fellow at the Washington-based Center for Strategic and International Studies. There's pressure on Mr Marcos to secure a deal as Mr Trump has announced agreements with Southeast Asian neighbors Vietnam and Indonesia. While the Philippines is less trade-dependent than its regional peers, having a higher tariff rate would make it less attractive to investors. Mr Marcos also needs an economic accomplishment after a midterm election setback that showed the strength of his ally-turned-rival, Vice-President Sara Duterte, that risks undermining his authority in the latter half of his six-year term. His government is aiming to grow the economy by at least 5.5 per cent this year – lower than earlier forecasts as Mr Trump's tariffs loom. The office of the US Trade Representative and the Commerce Department didn't respond to requests for comment on July 21. Earlier, White House Press Secretary Karoline Leavitt said of the US-Philippines trade agenda, 'Perhaps this will be a topic of discussion – you will all see for yourselves in the Oval Office, as you always do. But the Aug 1 deadline is just the – really, the start date for when the United States of America will begin collecting this revenue from all of the countries around the world who the president has sent these letters to.' The Philippine leader has already restored security relations with the US that were strained under his predecessor, Mr Rodrigo Duterte, Sara's father. In just three years of his presidency, Mr Marcos expanded US access to military bases, hosted thousands of American soldiers for drills, and allowed the deployment of a US missile system. Fostering the alliance with Manila will be equally crucial for Mr Trump, as his administration seeks to counter China's growing assertiveness in the Asia-Pacific. The Philippines sits at a strategically important location near two regional flashpoints: Taiwan and the South China Sea. Confronting China US officials have repeatedly assured an 'ironclad' commitment to the Philippines – its oldest military ally in Asia – as Manila increasingly confronts Beijing in disputed waters. To show that the security alliance could extend to economic relations, the US earlier pledged to support Philippine infrastructure projects, and bring in US$1 billion (S$1.66 billion) worth of investments. 'Making concessions on defense is one good way of securing a trade deal, given that pushing allies to do more is one of Trump's priorities,' Mr Darren Tay, head of Asia country risk at Fitch Solutions research unit BMI, said on a webinar last week. Philippine ambassador to the US Jose Manuel Romualdez has been optimistic about the White House meeting, as well as the prospect of the two countries reaching a free trade agreement down the line, citing Mr Trump's gesture to invite Mr Marcos to stay at Blair House in Washington. The two leaders also share a personal connection, with Mr Marcos's mother, former Philippine First Lady Imelda Marcos, an acquaintance of Mr Trump. 'That means something, that you are obviously given importance by your host,' the ambassador said. BLOOMBERG
Arabian Post
2 days ago
- Business
- Arabian Post
Saudi's ACWA Power Paves Highway for Green Energy Exports
Greenlogue/AP ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ADVERTISEMENT ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. Saudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. ADVERTISEMENT Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large-scale renewable exports and corridor development. Industry observers suggest these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as an exporter of clean energy solutions. Navlist next. [1]: 'Saudi's ACWA Power signs agreements with European companies to export renewable energy' [2]: 'Acwa Power signs pacts to export renewable energy and green hydrogen to Europe' Saudi's ACWA Power Paves Highway for Green Energy Exports ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. SaSaudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large‑scale renewable exports and corridor development. Industry observers argue these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as a leading exporter of clean energy solutions.
New Indian Express
14-07-2025
- Politics
- New Indian Express
Seven steps to rebuild bridge to Kabul
India has always enjoyed immense goodwill in Afghanistan, our civilisational neighbour. This is true even now, when Kabul has again come under Taliban rule. Sadly, many Indians, influenced by the western media narrative, view the Taliban as jihadi terrorists. When a defeated America withdrew its troops from Afghanistan in August 2021, paving the way for a quick takeover of power by the Taliban, they saw it as a catastrophe for India. Having convinced themselves that the Taliban were a mere puppet created and controlled by Pakistan, they anticipated a spurt in joint Pakistan-Taliban terror offensives against India. The four-year-old Taliban rule in Kabul has belied these fears. If anything, relations between Kabul and Islamabad have been tense. When I met Suhail Shaheen, a senior Taliban leader who headed the Doha political office of the Islamic Emirate of Afghanistan, in February 2024, he said, 'India should shed the suspicion that the Taliban is 'close to Pakistan' and 'against India'. Our government is firmly committed to the principle that we shall not allow anybody to use our soil against India or any other country.' I have met several Taliban officials since then, and all of them have expressed the same view. There is a belated realisation in New Delhi that the current government in Kabul should not be treated as an adversary and that it can even be an important ally. This has resulted in a flurry of diplomatic contacts over the past year. When External Affairs Minister S Jaishankar phoned his Afghan counterpart Amir Khan Muttaqi on May 15, and 'deeply appreciated his condemnation of the Pahalgam terrorist attack,' it marked the highest-level communication between Delhi and Kabul. Yet, New Delhi is tardy in elevating the ties with Kabul. On July 3, Russia became the first country to formally recognise the Islamic Emirate of Afghanistan. China, the UAE and Uzbekistan have designated ambassadors to Kabul. Beijing hosted a trilateral meeting of the foreign ministers of China, Afghanistan and Pakistan in May; the China-Pakistan Economic Corridor will now be extended to Afghanistan. India, too, should establish normal ambassadorial relations with Afghanistan without any delay.
Time of India
05-07-2025
- Business
- Time of India
Land pooling for Indore-Pithampur Economic Corridor starts
Indore: Madhya Pradesh Industrial Development Corporation (MPIDC) has announced the commencement of land pooling for the proposed 19.60 km Indore-Pithampur Economic Corridor, which will have commercial and industrial activities on its both sides. The infrastructure project aims to enhance connectivity between Pithampur, airport, and other key urban areas, thereby promoting commercial and industrial activities in the state. MPIDC, Indore executive director Himanshu Prajapati said, "The layout for the proposed 19.60 km Indore-Pithampur Economic Corridor has been finalised, and with this, the process of land pooling has started. Consents for more than 250 acre reached us, and we are actively collecting documents from the landowners. " The corridor, stretching 20 km in length and 75 metre in width, will encompass both govt and private lands, with an expected extension of 300 metre on either side. The project carries an estimated cost exceeding Rs 2,400 crore. MPIDC has published the plot numbers of lands from 17 villages, including Kordiabardi, Nainod, Rinjalay, Bisnavada, Navadapanth, Shriram Talavali, Sindoda, Sindodi, Shivkheda, Narlay, Mokalay, Dehri, Sonvay, Bhainslay, Bagoda, Tihi, and Dhannad. Under the Land Pooling Act, there is currently a provision to return 50 per cent of the land to its owners. However, for the Economic Corridor, chief minister Mohan Yadav in March announced the allocation of 60 per cent of the total developed land to the farmers. "As the land acquisition process gains momentum, anticipation builds around the potential economic benefits that the Indore-Pithampur Economic Corridor will unlock, paving the way for enhanced industrial growth and job creation in the region. The coming months will be crucial as MPIDC continues its efforts to realise this ambitious infrastructure project," said Prajapati.
India Gazette
05-06-2025
- Business
- India Gazette
"We were recalibrating our strategies": Shashi Tharoor on India adapting to China's technology during Op Sindoor
Washington DC [US], June 5 (ANI): Congress MP Shashi Tharoor, leading an all-party delegation to the United States on Thursday, discussed India's military strategies against China's technology, particularly during Operation Sindoor. He highlighted India's ability to adapt and respond effectively to China's advanced systems. Tharoor mentioned China's 'kill chain' technology, integrating radar, GPS, planes, and missiles for instant reactions. 'The reassessment took place while the fighting was going on. When we saw what the Pakistanis were tempted to do using, as you say, Chinese technology, there's supposed to be something called a kill chain that the Chinese specialise in, wherein the radar, GPS, planes and missiles are all linked together, and they react instantly... We simply did things differently; otherwise, we wouldn't have been able to hit 11 airfields, and we wouldn't have been able to breach the Chinese supply to their defences. So it's clear that assessments were taking place while the fighting was happening and we were recalibrating our strategies to end as effectively as we were able to end...,' Tharoor emphasised that India assessed and recalibrated its strategies during the conflict to counter Chinese defences effectively and hit key targets. Notably, during Operation Sindoor, India, in addition to eliminating over 100 terrorists, destroyed 11 air bases inside Pakistan and inflicted significant damage on their military capabilities. The air, land and sea operations were carried out with calibrated restraint, emphasising minimising civilian casualties. Tharoor noted China's significant stakes in Pakistan, particularly through the Belt and Road Initiative's China-Pakistan Economic Corridor, highlighting the complexity of the region's geopolitics. 'The fact is, China has immense stakes in Pakistan. The largest single project the Belt and Road Initiative is in Pakistan, the China-Pakistan Economic Corridor. So we have no illusions about the degree of commitment that China may feel towards Pakistan,' added the Congress leader. Tharoor also acknowledged China's influence in the region, noting its role as a significant supplier of funds, often through loans that can lead to unsustainable debt obligations for recipient countries. 'China does come in and play a role. I mean, there's no doubt about that. China can be a fairly munificent supplier of funds. They are often loans and not grants, and some involve unsustainable debt obligations on the part of the recipients. Um, and so yes, you've implied there are specific issues we need to address,' said Tharoor. He emphasised the importance of the neighbourhood to India, highlighting its responsibility to care for the well-being of its neighbours. 'We as a country have always appreciated that when we sit around the table with our neighbours, we account for 70% of the land mass and 80% of the GDP. I mean we have a responsibility to care for the well-being of our neighbours, and we are conscious of that,' he added. Tharoor highlighted that Pakistan's obstructionism hindered regional cooperation efforts, particularly within the South Asian Association for Regional Cooperation (SAARC). 'We were trying to make a goal of the South Asian Association for Regional Cooperation, but Pakistan obstructed that because they could not have these relationships blossoming as long as they had a grudge with India. And unfortunately, the South Asian Association worked on consensus so that nothing could get done,' said Tharoor. He said India revived the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), a sub-regional organisation that excludes Pakistan and focuses on cooperation with countries to the east. 'India has now revived another sub-regional organisation called BIMSTEC, which does not include Pakistan, and sadly, it doesn't include the Maldives either, because they're to the west of the Bay of Bengal, but all the countries to the east, including Thailand and Myanmar, are part of this initiative, so it's not that we are in any way backing off from regional cooperation. We want it, but there are specific challenges. However, we can go country by country at some point. I'm sure my colleagues in the Indian Embassy will happily help the US State Department on that.' (ANI)
