Author: HeraldStar

Oil prices ended lower on Wednesday as the market balanced the impact of a stronger U.S. dollar and the potential for U.S. President-elect Donald Trump’s foreign policy to disrupt global oil supply. Brent crude futures dropped by 61 cents, or 0.81%, settling at $74.92 per barrel. U.S. West Texas Intermediate (WTI) crude saw a smaller dip, falling 30 cents or 0.42%, to $71.69. The initial sell-off following Trump’s election caused oil prices to fall by over $2 per barrel early in the day, as the dollar surged to its highest level since September 2022. A stronger dollar typically makes oil,…

As Donald Trump gears up to return to the White House, attention is turning to what his energy policies will mean for the future of the U.S. energy landscape. Trump’s presidency was marked by a strong focus on boosting fossil fuel production, and his second term is expected to shift the nation’s energy policy back toward oil and gas, placing less emphasis on tackling climate change. However, despite concerns about potential rollbacks, experts argue that the rapid growth of renewable energy in the U.S. is unlikely to be significantly impacted, at least in the short term. In the aftermath of…

European leaders are urging greater unity and close coordination in light of Donald Trump’s election victory, with France and Germany emphasizing the challenges his “America First” policies may bring. French President Emmanuel Macron and German Chancellor Olaf Scholz, while offering congratulations, highlighted concerns over the potential economic impact, including the threat of trade wars, tariffs, and a possible shift in U.S. foreign policy, particularly regarding Ukraine. Both leaders stressed the importance of a strong, united EU to navigate the new global landscape, but noted that achieving consensus could prove difficult due to internal divisions within the bloc. Despite concerns, including…

India’s Foreign Minister, Subrahmanyam Jaishankar, recently commented on the evolving U.S. foreign policy approach, stating that the results of the ongoing U.S. presidential election are unlikely to alter America’s growing caution regarding international commitments. Speaking at an event in Canberra, Australia, while Americans were still casting their votes, Jaishankar discussed the long-term trend he has observed in U.S. foreign policy since the Obama administration. He pointed to the reluctance of the U.S. to deploy troops abroad and highlighted the significant U.S. withdrawal from Afghanistan under President Joe Biden, signaling a shift away from previous practices of robust global engagement. Jaishankar…

Ireland will hold a general election on November 29, as Prime Minister Simon Harris moves forward with plans to capitalize on a popular budget and the diminishing support for opposition party Sinn Féin. Harris, who had until March to call the election, has chosen to dissolve parliament earlier, after presenting a robust 10.5 billion euro budget in October, featuring tax cuts and increased spending aimed at bolstering the economy. The announcement coincides with Europe’s healthy public finances and Ireland’s vulnerability to external economic pressures, especially with U.S. President-elect Donald Trump’s plans to reduce corporate taxes and impose tariffs, which threaten…

Taiwan is preparing to navigate its relationship with China carefully during the upcoming U.S. presidential transition, with a senior security official expressing confidence that the United States will maintain its friendly stance towards Taiwan regardless of the outcome. National Security Bureau Director-General Tsai Ming-yen stated on Wednesday that Taiwan would work proactively to prevent any disruptions or “trouble” from China during this sensitive period. Tsai’s remarks come amidst growing concerns over Taiwan’s security, particularly given the sustained military pressure Taiwan has faced from China over the past five years, including frequent war games near its borders. As the U.S. presidential…

China’s Premier Li Qiang reiterated Beijing’s support for Myanmar’s political reconciliation and transition efforts during a meeting with Myanmar’s junta leader Min Aung Hlaing in Kunming, China, on Wednesday. This marks the first visit by Min Aung Hlaing to China since his 2021 coup, which plunged Myanmar into chaos. The meeting took place in Yunnan province, a region that shares a border with Myanmar, a strategic area affected by the ongoing unrest in Myanmar, particularly along the border. Li emphasized China’s willingness to strengthen ties with Myanmar, including enhancing cooperation in the multilateral arena and further promoting the China-Myanmar economic…

South Korea’s presidential office announced plans on Wednesday to strengthen its security alliance with the incoming U.S. administration. President Yoon Suk Yeol is expected to speak with President-elect Donald Trump in the coming days to discuss future cooperation. With approximately 28,500 American troops stationed in South Korea, this partnership remains critical for regional stability, particularly in deterring North Korea’s nuclear threat. Under President Yoon’s leadership, Seoul has worked closely with Washington to maintain the alliance, recently agreeing to a five-year cost-sharing plan for U.S. troop presence. Additionally, in response to growing geopolitical tensions, a South Korean official revealed plans to…

Ghana’s cocoa production is projected to rebound in the 2024/25 season, thanks to favorable weather and enhanced crop management, according to Ghana’s Cocobod, farmers, and buyers. After a historic low last season—output dropping to just 55% of the typical yield due to poor weather and other challenges—Ghana, the world’s second-largest cocoa producer, now anticipates a recovery to 650,000 tons. However, the International Cocoa Organization remains cautious, projecting a more modest 500,000 tons. Improved conditions this year have contributed to healthier cocoa pods and more productive trees. Abdul-Majid Mumuni, who leads Cocobod’s cocoa health and extension division, noted a remarkable yield…

South Africa has closed the Lebombo border crossing with Mozambique as violent protests over Mozambique’s disputed election continue to escalate. Supporters of Venancio Mondlane, who placed second in the October 9 election, allege that the ruling Frelimo party, in power since 1975, engaged in electoral fraud. In response to protests, security forces in Mozambique have deployed tear gas and live ammunition, leading to at least 18 confirmed deaths according to Human Rights Watch, while local rights groups report as many as 24 casualties. The protests began with widespread demonstrations across Mozambique, and with heightened tensions, South Africa’s border authority decided…