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Official: Indonesia's top negotiator will visit the U.S. Monday, ahead of the tariff deadline.
An official confirmed that Indonesia's senior economist Airlangga Hartarto will be visiting the United States Monday. She is the main negotiator for the country in the U.S. Tariff talks. Airlangga, who is in Brazil with President Prabowo for the BRICS Conference, is then scheduled to travel to the United States to supervise tariff negotiations before the deadline of July 9, said Haryo LImanseto, a spokesperson for the Coordinating Ministry for Economic Affairs. Jakarta offered to reduce duties on U.S. goods to almost zero. For smoother tariff talks, Jakarta has also offered U.S. investments in its essential minerals and offered more U.S. goods. Indofood Director Franciscus Welirang said on Monday that a $34 billion deal was expected to be announced on Monday between Indonesian companies, including the state carrier Garuda, and U.S. counterparts. However, the exact date and time have not been revealed. Indofood and other members of Indonesia’s wheat flour mills' association have agreed on a purchase of 2 million tons U.S. Wheat worth $500 million. According to U.S. trade representative, the United States will be Indonesia's second-largest export market, after China. The value of goods exported to the United States by 2024 is expected to reach $28.1 billion. Last year, the Southeast Asian nation had a goods trade surplus of $17.9billion with the United States. Sri Mulyani indrawati, Indonesia's Finance Minister, warned that U.S. Tariffs could reduce Indonesian growth potential by 0.3-0.5 percentage points. Indonesia's GDP forecast for 2025 has been revised downwards from an earlier target of 5,2% to a range between 4,7% and 5.0%. (Reporting and editing by Martin Petty, David Stanway, and Stefanno Sulaiman)
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Israel says it has attacked three Yemeni ports, including a power plant and port.
Israel's military announced early Monday that it had attacked Houthi targets at three Yemeni ports, as well as a power station. This was the first Israeli strike on Yemen for almost a whole month. The military said that the strikes on Hodeidah and other ports such as Ras Isa, Salif, and Ras Qantib were a result of repeated Houthi attacks against Israel. Israel also destroyed the Galaxy Leader in Ras Isa, a ship that was captured by Houthis at the end of 2023. The military reported that "the Houthi terrorists regime's forces have installed a Radar system on the vessel and are using it in order to track vessels within international maritime space in order to promote their activities", Al-Masirah TV, a Houthi-run channel, reported that Israel had launched a series strikes on Hodeidah shortly after Israel's military issued an evacuation alert for the three Yemeni port cities. The attack comes just hours after a ship off the port city of Hodeidah on the Red Sea was attacked and its crew fled as the vessel began to take in water. Ambrey, a security firm, said that the vessel matched the profile of a typical Houthi target. The Houthis, who are aligned with Iran, have been firing at Israel since the beginning of the Gaza war in October 2023. They also fired at ships in the Red Sea to disrupt global trade. The majority of missiles and drones that were fired at Israel either fell short or were intercepted. Israel has launched a series retaliatory attacks. Reporting by Mohammed Ghobari, Yomna and Menna Alaa El Din and Yomna and Menna Ehab; writing and editing by Lisa Shumaker and Diane Craft
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Carney: New oil pipeline proposal for Canada highly likely
In an interview with the Calgary Herald published on Sunday, Prime Minister Mark Carney said that a new oil pipeline along the coast of British Columbia is likely to make the list of projects considered to be of national significance by the Canadian government. Carney stated in an interview on Saturday that "given the size of the economic opportunity and the resources, expertise, and knowledge we have that it's highly, highly probable that we will be proposing a pipeline as one of these national-interest projects." The Prime Minister said it was up to the private industry to come up with the idea, and not a government "top-down" approach, where they say "we want that, we want this." Carney, who attended the annual Calgary Stampede in Calgary, said he also supported a proposed C$16.5 Billion ($12.14 Billion) carbon capture system to be built for Alberta's Oil Sands. Carney's remarks come just weeks after the Canadian Senate passed a law to expedite approval of natural resource and infrastructure project. The bill expedites approval of projects of national importance, including oil pipelines and mines. It also eliminates certain trade barriers between provinces. Canada is the fourth largest oil producer in the world. Canada has put oil and gas projects on its list as it tries to reduce its economic dependency on the United States. It sends 75% of all exports there.
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Operator: Explosive device likely caused damage to Greek tanker near Libya last week
TMS Tankers, the Greek operator of the tanker, said that an external explosive device was most likely responsible for the explosion which damaged the Greek oil tanker Vilamoura last week as it was sailing near the coast of Libya. This conclusion is based on a preliminary investigation. On June 27, the Marshall Islands flagged tanker Vilamoura was leaving the Libyan port Zuetina to head to Gibraltar, with around 1 million barrels oil. An explosion occurred in the engine room. TMS Tankers stated that preliminary investigation findings indicate clearly that the explosion and subsequent fracture of side shell plating as well as the flooding of engine room was caused by an unidentified explosive. Security at sea Sources Last week, it was reported that a limpet-mine may have been responsible for the explosion on Vilamoura. This is the fifth incident of this kind to occur in the past few months in the area. After the explosion, the engine room was inundated and the vessel became unmanoeuvrable. However, it could be towed to Greece. The operator said in a press release that the vessel had arrived safely in Laconikos Bay, Greece, and that its crew was in good health. (Reporting and editing by Renee Maltezou)
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UK maritime agency reports that a ship was attacked in the Red Sea near Yemen.
An attack on a ship in the Red Sea, off the coast of Yemen's southwest coast, was launched by eight small boats using gunfire and grenades. A British maritime agency and a security firm confirmed the incident. The situation continues, according to the United Kingdom Maritime Trade Operations and British maritime security company Ambrey. The attack was not immediately attributed to anyone. This is the first report on the region by the agencies since the middle of April. The tensions in the Middle East are still high due to the conflict in Gaza, the 12-day Israel/Iran war that lasted for 12 days and the airstrikes conducted by the United States against Iranian nuclear sites. The UKMTO and Ambrey reported that the attack took place 51 nautical miles southwest from Yemen's port of Hodeidah. The ship was not named. Yemen's Iran aligned Houthis launched over 100 attacks against shipping in November 2023. They claimed they were acting as a solidarity with Palestinians regarding Israel's conflict with Hamas. The group has sunk two ships and seized another, killing at least four seafarers. This offensive disrupted the global shipping industry, forcing companies to change their routes, which in turn prompted the U.S. government to intensify its attacks against the group. In May, Donald Trump announced that the U.S. will stop bombing Houthis in Yemen. He said the group has agreed to stop interfering with important shipping routes in the Middle East. Oman stated in a press release at the time that the agreement stipulated neither the U.S. or the Houthis could target each other. This included U.S. vessels in the Red Sea, Bab al-Mandab, and the Bab al-Mandab strait. In June, the Houthis of Yemen threatened to attack U.S. vessels in the Red Sea in case Washington joined Israeli attacks against Iran. The Houthis have not stated whether they intend to follow through with their threat following the U.S. attack on Iranian nuclear facilities in late June. Reporting by Muhammad Al Gebaly, Jaidaa Taka; Editing by Alison Williams, Emelia Sithole Matarise
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The Defence Ministry reports that Russia has destroyed 120 Ukrainian drones in one night.
The Russian Defence Ministry reported that the anti-aircraft system of Russia had destroyed 120 Ukrainian drones over night, mainly in bordering regions, but there was no damage. Ukraine is increasingly using drones in its war against Russia, which has lasted more than three years. Defence Ministry reported that drones were intercepted over night in Belgorod, Kursk and western Bryansk regions. The Oryol area, bordering Kursk, has also been the target of previous Ukrainian drone attacks that targeted oil facilities. Rosaviatsiya (Russia's Civil Aviation Authority) has lifted the restrictions placed overnight at airports such as St. Petersburg, Kaluga and Moscow to ensure safety. (Reporting and editing by Helen Popper; Vladimir Soldatkin)
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China extends flight path over Taiwan Strait by a third time
China announced on Sunday that it had opened a third flight extension along the M503 route. This is located just west of a unofficial dividing boundary in the Taiwan Strait. Taipei reacted by saying this was an "unilateral move" aimed at changing status quo. Last year, China moved the M503 flight route closer to median line. This drew a similar angry response from Taipei. It said that any changes made to the flight routes and their extensions should be communicated and agreed upon in advance by both parties. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "in order for the civil aviation to improve the operational efficiency and further optimize the airspace, the W121 line will be used as a connection of the M503 route." In a recent statement, Taiwan's China Policy-making Mainland Affairs Council stated that mainland China had "used unilateral action to change the status quo" and to increase unrest in the region and across Taiwan Strait. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that this measure was taken to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was deemed "beneficial" for both sides. Taipei rejected the explanation, calling it "unjustified". It said that "the number" of international air travelers on the mainland had not recovered to levels before the COVID-19 pandemic. The Han Kuang military exercises will last 10 days. Taiwan is under increased pressure from China who considers Taiwan as their own. (Reporting from Yimou Le in Taipei and Marius Zaharia, Hong Kong; editing by Christian Schmollinger).
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China extends flight path over Taiwan Strait by a third time
China's Civil Aviation Authority said on Sunday that it had opened a third expansion of the M503 route. This flight route has been the subject of complaints by Taipei for many years due to its location just west of a unofficial dividingline in the Taiwan Strait. China moved the M503 route last year closer to the median, provoking an angry response from Taipei. It said Beijing was "packaging" civil aviation to serve political or military purposes, and potentially change the status quo of the Strait. The W121 extension was opened just days before Taiwan's annual Han Kuang drills, which simulate a Chinese invasion and blockade of its democratic island. China has been flying warplanes over the median line to try to get Taipei, which claims sovereignty in China, to accept Beijing's claim. Civil Aviation Authority of China announced that "to further optimize airspace and improve operational efficiency from now on, the civil aviation will use W121 connection lines of the M503 routes." Taiwan's China Policy-making Mainland Affairs Council has not responded to a comment request immediately. The third extension is W123, located to the south of W121. It was opened last year. All three extend west-east from mainland China to Taiwan. The Taiwan Affairs Office of China said that the measure was designed to "ensure flight safety, reduce flight delays and protect the rights and interest of passengers." The opening of the Strait was "beneficial" for both sides. Han Kuang, which will last 10 days, is set to begin on 9 July. Taiwan, facing increased military pressure from China which views the island as its own. (Reporting and editing by Saad Saeed; Additional reporting in Taipei by Yimou Le.
Star Entertainment extends threatened casino deal by last-minute
Star Entertainment Australia said that it had managed to secure a last minute reprieve from Hong Kong Investors who had threatened their Queen's Wharf Casino deal. Both sides agreed to extend the talks beyond an looming deadline of five days.
Chow Tai Fook Enterprises, Far East Consortium and each of them holding 25% in the project had sent a termination letter last Monday. They threatened to cancel their agreement to purchase Star's 50% remaining stake if certain conditions weren't met within five working days.
Star reported that the Hong Kong firms had agreed on Monday morning "a set principles whereby there will be some departures from the head of agreement", extending the deadline for termination to 31 July to allow the parties to finalise the long-form documents.
As of 0024 GMT the shares in Star had fallen as much as 3.85%, to A$0.125. The broader benchmark was largely unchanged.
Far East Consortium said in a separate press release that discussions during the past week were centered on "issues primarily relating to an orderly transition of management of Queen's Wharf Project, to provide certainty to JV partners and relevant stakeholders to facilitate the exit of The Star equity and management from the project."
Star may face financial penalties in the event of a deal's collapse. The casino operator will have to repay A$10m ($6.55m) that it received from its Hong Kong partners in 30 days and reimburse their equity contributions for the new Queen's Wharf Casino and Hotel complex, which opened on March 31, 2015.
Star's shareholders backed, in late June, a A$300m bailout package to keep the struggling casino operator on its feet. Bally's Corp, a U.S. gaming firm, is leading the rescue effort in collaboration with the Mathieson Family, Star's largest existing investor. Reporting and editing by Rashmi aich in Bengaluru.
(source: Reuters)