China benchmark ends marginally higher

Asian stocks ended mixed on Wednesday as Middle East unrest deepened, and focus shifted to the Federal Reserve's interest-rate decision later in the day.
Risk sentiment worsened after reports claimed that the U.S. may consider joining Israel in striking Iranian nuclear sites.
Adding to the speculation, U.S. President Donald Trump demanded "unconditional surrender" from Tehran, warning that U.S. patience was "wearing thin" and that America held "complete and total control over Iranian skies".
The Federal Reserve is widely expected to leave rates unchanged later today, but investors will scrutinize updated economic projections for clues to future moves.
The dollar wavered against major currencies in Asian trade while oil prices eased after rallying 4 percent in the previous session. Gold was marginally lower in limited sideways range trading.
China's Shanghai Composite index finished marginally higher at 3,388.81 as speeches by top financial regulators at the opening of the annual Lujiazui Forum delivered few fresh policy signals.

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Time of India

18 minutes ago

• Time of India

Fury and fear rise across US as Trump's immigration enforcement intensifies

Live Events After night fell on the outskirts of Los Angeles on Thursday, around 50 people clanged metal pots and blasted air horns outside a hotel in a noisy bedtime protest targeting US immigration "No Sleep For ICE" rally underscored growing anger at Immigration and Customs Enforcement (ICE), a once obscure agency that has become the focal point of President Donald Trump 's migrant crackdown."They terrorize our community the entire day. Why do they get a good night's sleep?" said Nathanael Landaverde, 23, who banged a dismantled frying pan at the images have shown federal agents, often masked and sometimes armed with assault rifles, chasing down migrants and handcuffing them at courthouses, farms and on the streets.(Join our ETNRI WhatsApp channel for all the latest updates)ICE officials have also detained some US citizens for allegedly intervening in arrests, including a mayoral candidate in New York this week. The heavy-handed approach has sparked fear among immigrants and infuriated many Americans, particularly in liberal cities such as Los Angeles, where large-scale street protests erupted this month over ICE raids."If they don't sleep they're not gonna do their job effectively. They're gonna get less people," added Landaverde, as passing vehicles honked in apparent support for the late-night was not certain whether ICE agents were staying at the three-star hotel, but protest organizers claimed to have photo evidence. Dozens of people danced to a deafening cacophony as they waved signs reading "No rest for ICE" and "ICE out of LA" towards the hotel, where some guests peered through the woman simply screamed into a megaphone. Another man wore earmuffs as he blasted distorted white noise through a speaker. "They're ripping families apart, and it's horrifying to watch in my community. They can't sleep if they're gonna do that here," said Juliet Austin, 22, who was playing a small blue was elected to a second term in large part for his promise to deport thousands of migrants. But alongside their aggressive tactics, critics have denounced federal immigration agents for wearing face masks to hide their identities -- a highly unusual but legal practice in US law enforcement."At what point will we as a nation find ourselves with a secret police?" Walter Olson, a senior fellow at the Cato Institute think tank, wrote last month. "For the Trump administration, turning masked raids into standard practice fits into a wider effort to dodge accountability for potentially illegal and unconstitutional actions," he California, lawmakers have introduced the "No Secret Police Act" that would restrict federal agents from wearing masks. Federal officials have rejected this criticism by claiming that agents wear masks to protect them from potential ICE has frequently boasted about its activities and posted pictures of detained migrants on social it crucially still enjoys Trump's support, who last weekend praised ICE agents' "incredible strength, determination, and courage." Still, anger over ICE looks unlikely to go away as long as immigration arrests continue, and protesters Thursday were adamant they would not back down."I think it's a modern Gestapo here in America," said Austin, a dance teacher. "This city is not the one to mess with... We're not gonna let it happen. We're not tired," she added.

The Print

20 minutes ago

• The Print

Govt meets stakeholders to assess impact of Iran-Israel conflict on trade; monitoring situation

The participants informed that the situation in the Strait of Hormuz is currently stable and a ship reporting system is in place to monitor any incidents. New Delhi, Jun 20 (PTI) The commerce ministry on Friday held consultations with key stakeholders, including shipping lines, exporters, container firms, and other departments, to assess the impact of the Iran-Israel conflict on India's overseas trade, an official said. The freight and insurance rates are also being closely monitored, the official said. The commerce secretary emphasised the need to assess the evolving situation and its impact on Indian trade, the official said. He highlighted the importance of exploring all possible alternatives in response to the situation. Exporters have stated that the war, if escalated further, would impact world trade and push both air and sea freight rates. They have expressed apprehensions that the conflict may impact the movement of merchant ships from the Strait of Hormuz and the Red Sea. Nearly two-thirds of India's crude oil and half of its LNG imports pass through the Strait of Hormuz, which Iran has now threatened to close. This narrow waterway, only 21 miles wide at its narrowest point, handles nearly a fifth of global oil trade and is indispensable to India, which depends on imports for over 80 per cent of its energy needs. According to think tank GTRI, any closure or military disruption in the Strait of Hormuz would sharply increase oil prices, shipping costs, and insurance premiums, triggering inflation, pressuring the rupee, and complicating India's fiscal management. The present conflict that began with an attack on Israel on October 7, 2023 had brought cargo movement through Red Sea routes to a halt due to attacks by Houthi rebels on commercial shipping. Last year, the situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, escalated due to attacks by Yemen-based Houthi militants. Around 80 per cent of India's merchandise trade with Europe passes through the Red Sea, and substantial trade with the US also takes this route. Both these geographies account for 34 per cent of the country's total exports. The Red Sea Strait is vital for 30 per cent of global container traffic and 12 per cent of world trade. India's exports to Israel have fallen sharply to USD 2.1 billion in 2024-25 from USD 4.5 billion in 2023-24. Imports from Israel came down to USD 1.6 billion in the last fiscal from USD 2.0 billion in 2023-24. Similarly, exports to Iran, amounting to USD 1.4 billion, which were at the same level in 2024-25 as well as in 2023-24, could also suffer. India's imports from Iran were at USD 441 million in FY25 as against USD 625 million in the previous year. The conflict adds to the pressure that the world trade was under after the US President Donald Trump announced high tariffs. Based on the tariff war impact, the World Trade Organisation (WTO) has already said that global trade will contract 0.2 per cent in 2025 as against the earlier projection of 2.7 per cent expansion. India's overall exports had grown 6 per cent on year to USD 825 billion in 2024-25. PTI RR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

First Post

21 minutes ago

• First Post

Why Donald Trump is desperate to win Nobel Peace Prize

Donald Trump has once again ranted about not getting the Nobel Peace Prize. In a long post on Truth Social, he listed a number of reasons why he deserves it. Now, Islamabad has nominated him for the honour for his 'decisive diplomatic intervention and pivotal leadership during the recent India-Pakistan crisis'. But why does the US president long for the validation of the prize so much? read more US President Donald Trump has once again complained about not getting the Nobel Peace Prize. AP United States President Donald Trump has made no bones about coveting a Nobel Peace Prize. He brought up the award again while reiterating his claim of ending hostilities between India and Pakistan — an assertion rejected by New Delhi. Trump has mentioned the Nobel Peace Prize dozens of times publicly, be it in his speeches, interviews or campaign rallies. After failing to get the award in his first term, his obsession with the prestigious award has returned. STORY CONTINUES BELOW THIS AD But why does Trump desire the Nobel Peace Prize so strongly? We will take a look. Trump says 'won't get Nobel Peace Prize' US President Donald Trump reiterated his claims of brokering a peace deal between India and Pakistan, griping he would not get a Nobel Peace Prize for 'stopping' the 'war' between the two South Asian neighbours. In a long post on his Truth Social platform on Friday (June 20), the Republican leader mentioned the prestigious award six times. He listed a variety of reasons why he should get the award. The Republican leader complained he would not get the Nobel Peace Prize for his efforts in the Russia-Ukraine or Israel-Iran conflicts. 'I won't get a Nobel Peace Prize, no matter what I do,' Trump said in his post. The US President began the post saying he was 'very happy' to report that he, along with Secretary of State Marco Rubio, has arranged a 'wonderful treaty between Congo and Rwanda, in their war, which was known for violent bloodshed and death, more so even than most other Wars, and has gone on for decades.' He went on to say that representatives from Rwanda and Congo will be in Washington on Monday to sign documents, adding that this was a 'Great Day for Africa and, quite frankly, a Great Day for the World!' Donald J. Trump Truth Social 06.20.25 05:58 PM EST — Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) June 20, 2025 STORY CONTINUES BELOW THIS AD Trump said he 'won't get a Nobel Peace Prize for this, I won't get a Nobel Peace Prize for stopping the War between India and Pakistan, I won't get a Nobel Peace Prize for stopping the War between Serbia and Kosovo, I won't get a Nobel Peace Prize for keeping Peace between Egypt and Ethiopia.' The US president has claimed multiple times that he halted the 'war between India and Pakistan' . New Delhi has, however, maintained that an understanding to cease fire with Pakistan was reached after direct talks between the Directors General of Military Operations (DGMOs) of the two militaries. Trump then said that he 'won't get a Nobel Peace Prize for doing the Abraham Accords' in West Asia, which, 'if all goes well, will be loaded to the brim with additional countries signing on, and will 'unify' West Asia 'for the first time in 'The Ages!'' STORY CONTINUES BELOW THIS AD The Abraham Accords, signed during Trump's first term at the White House, are landmark agreements to establish ties between Israel and four Arab countries. Trump ended his post with: 'No, I won't get a Nobel Peace Prize no matter what I do, including Russia/Ukraine, and Israel/Iran, whatever those outcomes may be, but the people know, and that's all that matters to me!' Trump's obsession with Nobel Peace Prize This is not the first time that Trump has lamented not winning the Nobel Peace Prize. He has spoken about it several times, and as per New York Times (NYT), complained 'publicly and privately' about not getting it for nearly a decade. As Trump pushes for a ceasefire between Russia and Ukraine and a peace deal in West Asia, the 'award is looming large in his mind', the American newspaper reported, citing current and former advisers. At an Oval Office meeting with Israeli Prime Minister Benjamin Netanyahu in February, the US president said: 'They will never give me a Nobel Peace Prize.' 'It's too bad. I deserve it, but they will never give it to me,' he added. STORY CONTINUES BELOW THIS AD Trump has been nominated many times for the Nobel Peace Prize. A wide variety of people can nominate someone for the honour. Last year, Congresswoman Claudia Tenney, a Republican from New York, nominated him for brokering the Abraham Accords. Norwegian politician Christian Tybring-Gjedde and a Swedish political figure, Magnus Jacobsson, nominated Trump during his first term. But the esteemed prize evaded the US president. Trump has been nominated once again. In February, Anat Alon-Beck, an Israeli-born professor at the Case Western Reserve University School of Law, submitted a letter to the Nobel committee, arguing that Trump should get the award for his early work on securing a peace deal in West Asia. 'By securing the release of hostages, standing firm against antisemitism, and fostering historic agreements that bring stability to the world's most volatile regions, [Trump] has once again demonstrated why he is a deserving recipient,' Alon-Beck wrote, as per Axios. The Trump administration officials have also rallied behind the US president in his quest for the prestigious prize, which is decided by the Nobel Committee – appointed by Norway's parliament. STORY CONTINUES BELOW THIS AD 'The Nobel Peace Prize is illegitimate if President Trump — the ultimate peace president — is denied his rightful recognition of bringing harmony across the world,' Steven Cheung, the White House communications director, said in a statement earlier. Speaking to Fox News in February, US Treasury Secretary Scott Bessent said Trump deserves a Nobel for his efforts to end the Russia-Ukraine war. 'If it were fairly awarded, I think in a year, he should get it from what I've seen,' he said. US National Security Adviser Mike Waltz, Interior Secretary Doug Burgum, and New York Representative Elise Stefanik have also advocated for Trump winning the Nobel. Meanwhile, Pakistan has nominated Trump for the 2026 Nobel Peace Prize 'in recognition of his decisive diplomatic intervention and pivotal leadership during the recent India-Pakistan crisis'. 'At a moment of heightened regional turbulence, President Trump demonstrated great strategic foresight and stellar statesmanship through robust diplomatic engagement with both Islamabad and New Delhi which de-escalated a rapidly deteriorating situation, ultimately securing a ceasefire and averting a broader conflict between the two nuclear states that would have had catastrophic consequences for millions of people in the region and beyond', a statement by Pakistan on Saturday (June 21) claimed. STORY CONTINUES BELOW THIS AD The announcement came just days after the US president hosted Pakistan Army chief Asim Munir at the White House for lunch. Islamabad has parroted Trump's claim that he 'helped settle' the hostilities between the neighbours. ALSO READ: Not so Noble: How the Nobel Prize has become the most controversial award ever Why is Trump pushing for the Nobel Peace Prize? Trump's obsession with the Nobel Peace Prize may have to do with former US President Barack Obama, who had won the award less than nine months after taking office in 2009. Obama, who was a highly controversial choice, got the prize for his 'extraordinary efforts to strengthen international diplomacy and cooperation between peoples'. Trump has criticised the Nobel committee for picking Obama for the award. In 2019, the Republican leader said he should get the prize 'for a lot of things, if they gave it out fairly — which they don't. They gave one to Obama immediately upon his ascent to the presidency, and he had no idea why he got it. … That was the only thing I agreed with him on.' Towards the end of his 2024 presidential campaign, Trump repeatedly brought up Obama's Nobel Peace Prize, ranting that he did not deserve the award. STORY CONTINUES BELOW THIS AD 'If I were named Obama, I would have had the Nobel Prize given to me in 10 seconds,' he said. John Bolton, who was ousted by Trump as his national security adviser in 2019, told NYT, 'The centre of his public life is the greater glory of Donald Trump, and the Nobel Peace Prize would be a nice thing to hang on the wall.' 'He saw that Obama got the Nobel Peace Prize and felt if Obama got it for not doing anything, why should he not get it?' he said of the US president. While Trump longs for the validation of the Nobel Peace Prize, critics say he does not deserve it, as there is no guarantee he will achieve a lasting peace between Russia and Ukraine or in West Asia. They also accuse the US president of aligning himself with aggressors. With inputs from agencies