The International Monetary Fund said on May 14 that it welcomes the initial positive dialogue between US President Donald Trump and Chinese President Xi Jinping, adding that reducing tension and uncertainty between the world’s two largest economies was good for the world.
“It’s very important, of course, that the world’s two largest economies are engaging at the highest level,” IMF spokesperson Julie Kozack told a news briefing when asked about the Trump-Xi summit’s initial outcomes in Beijing.
“We certainly welcome the fact that there’s a constructive dialogue between the two countries. Anything that is going to help reduce trade tensions and reduce uncertainty is good for both of those large economies, and, of course, good for the global economy as well,” Ms Kozack added.
She said that because of pressures from the Middle East war and Iran’s closure of the Strait of Hormuz, which has kept crude oil prices above US$100 (S$128) per barrel, the global economy is clearly moving into the middle of the three economic scenarios that the IMF outlined in its April World Economic Outlook.
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PHOTO: EPA
India’s capital announced fuel-saving measures on May 14, including work-from-home days for government employees, after Prime Minister Narendra Modi called for reduced consumption as the Middle East war disrupts supply chains.
India is one of the few countries in the region that has not increased prices of petrol and diesel for domestic consumers or rationed supplies.
However, it has increased prices of liquefied petroleum gas – a primary cooking fuel in India – after disruptions following the US-Israeli strikes on Iran that led to Iran’s near-total blockade of the strategic Strait of Hormuz.
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PHOTO: FACEBOOK/ANDY BURNHAM
British Labour lawmaker Josh Simons on May 14 said he would resign from his seat in Parliament in a move designed to give Greater Manchester Mayor Andy Burnham (above, left) a chance to return to Parliament and challenge Prime Minister Keir Starmer.
“Today, I am putting the people I represent and the country I love first and will be resigning as MP for Makerfield,” Mr Simons wrote on X.
“I am standing aside so that Andy Burnham can return to his home, fight to re-enter Parliament, and if elected, drive the change our country is crying out for.”
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PHOTO: BERNAMA
Singer Wee Meng Chee, better known as Namewee, has been acquitted by the Magistrate’s Court of two drug-related charges.
Sin Chew Daily reported that Magistrate Khairunnisak Hassni gave the order of discharge and acquittal after the prosecution informed the court that the Attorney General’s Chambers had accepted Namewee’s second representation to drop the charges.
The Malaysian’s first representation, sent in April, was rejected.
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Police in Florida are investigating vandalism at a historic, predominantly African American cemetery where 17 gravesites were damaged, with headstones knocked down and “Trump” and “DeSantis” spray-painted in red letters on tombs, referring to the US politicians.
Detectives believe the incident in Palmetto, a town around 50km south of Tampa on Florida’s west coast, occurred within the past few weeks.
No arrests have been made and the investigation continues, the Manatee County Sheriff’s Office said in a statement on May 12.
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