Trump's sweeping new tariffs take effect against dozens of countries
US President Donald Trump's sweeping new tariffs on more than 90 countries around the world have come into effect, BBC reported.
"IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!," Trump said on social media minutes before the deadline in Washington, DC.
Earlier, the president hit India with a 50% tariff, which will take effect on 27 August unless it stops buying Russian oil.
Trump also threatened a 100% tariff on foreign-made computer chips as he pushes tech firms to invest in the US. It came as Apple announced a new $100bn (£75bn) US investment after coming under pressure from the White House to move more production to America, according to BBC.
Myanmar’s acting President Myint Swe dies after a long illness
Myint Swe, who became Myanmar’s acting president under controversial circumstances after the military seized power from the elected government of Aung San Suu Kyi more than four years ago, died on Thursday, the military said. He was 74, Associated Press reported.
He died at a military hospital in the capital, Naypyitaw, on Thursday morning, according to a statement from Myanmar’s military information office.
Myint Swe’s death came more than a year after he stopped actively carrying out his presidential duties after he was publicly reported to be ailing.
His funeral will be held at the state level but the date has not been disclosed, a separate statement from the military information office said, according to Associated Press.
Japan's Topix hits record high on Wall Street rally, solid earnings
Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth, Reuters reported.
The broader Topix was up nearly 1 per cent at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21.
The Nikkei climbed 0.9 per cent to 41,151.07.
Both indexes were on track for a third consecutive session of gains, provided the current momentum holds, according to Reuters.
South Korea, US to conduct major joint military drills starting August 18
South Korea and the United States will conduct major joint military drills starting on August 18, officials said, although they will delay parts of the annual exercises that have been a source of tension with North Korea to later in the year, Reuters reported.
The 11-day annual exercises, called Ulchi Freedom Shield, will be on a similar scale to 2024 but adjusted by rescheduling 20 out of 40 field training events to September, South Korea's Joint Chiefs of Staff spokesperson Lee Sung-jun said.
The allies agreed to reschedule some parts of the drill to next month over factors "including ensuring training conditions during extreme heat and maintaining a balanced combined defence posture year-round," Lee said at a briefing, according to Reuters.
