Politics

Political news that affects economic policies and markets.

Politics
Canadian cabinet focused on economy, US trade relations
Newly elected Canadian Prime Minister Mark Carney has unveiled his cabinet, with a strong focus on the economy and United States trade relations. The ministry has been confirmed, two weeks after the election, with a total of 24 new faces present, including 13 first-time MPs, and with a total 28 ministers and 10 secretaries of state. Despite plenty of new blood, several remain from former Prime Minister Justin Trudeau's government, including Melanie Joly, Chrystia Freeland, Anita Anand, Gary Anandasangaree, Sean Fraser and Dominic LeBlanc. However, housing, immigration and energy have been given to first-time ministers, after the Trudeau administration faced heavy criticism for those portfolios. Anand is the new foreign minister, Joly was shifted from foreign affairs to industry, Anandasangaree is no longer justice minister but will handle the role of public safety, a department that will oversee border security, which Trump has cited as a key reason for imposing tariffs on Canada as well as Mexico.Credit: Prime Minister of Canada via XThe portfolio of international trade has been handed over to Toronto-area MP Maninder Sidhu and David McGuinty, who previously held the border security position, will now oversee defence,
Politics
Trump's Gulf visit: US to end all sanctions on Syria
United States President Donald Trump has said the U.S. will remove all sanctions on Syria, following appeals from Saudi Arabia and Syria’s new government. The U.S. had first sanctioned Syria in 2004, and added further sanctions once the Syrian Civil War began in 2011. Trump made the announcement during a visit to Riyadh, where the U.S. also agreed to a new partnership with Saudi Arabia. “I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness. It’s their time to shine,” Trump said. “We’re taking them all off. Good luck Syria, show us something very special.” According to Trump, the move was largely due to a request from Saudi crown prince Mohammed bin Salman. “Oh, what I do for the crown prince,” he said. Syrian Foreign Minister Asaad al-Shaibani said lifting these sanctions represented a “new start” in the country’s reconstruction, and thanked Saudi Arabia’s government. U.S. Secretary of State Marco Rubio will also meet with al-Shaibani in Turkey on Thursday. Syria’s new government, which deposed Bashar al-Assad’s regime last year, has repeatedly called for the U.S.’ sanctions to be lifted in recent months. These measures have obstructed its financial recovery, accord
Politics
PM heads to Indonesia in first visit post-election
Australia's Prime Minister Anthony Albanese is set to fly to Indonesia today, in his first overseas trip since re-election. The two-day visit to Jakarta will kick off with the annual leaders meeting between Albanese and Indonesian President Prabowo Subianto, coming a day after the PM's new Ministry was sworn in. The visit is expected to place importance on trade and deepen defence relations between the two countries, after reports during the Australian election campaign that Russia had requested to base military aircraft in Papua, which is located 1,200 km north of Darwin, a strategic military location where a U.S. Marine Corps force is based for six months of the year. Indonesia denied the reports. "We have no more important relationship than Indonesia just to our north," Albanese said in an interview with the 7:30 Report. “They will grow to be the fourth largest economy in the world... [the visit will be] a signal to our region of the importance that we place on this region.” The trip will also include a stop in Rome for the PM, where he will attend newly appointed Pope Leo XIV’s inaugural Mass.
Politics
Trump sues for peace, signs chips; US$142bn arms deal
Saudi Arabia (KSA) has pledged US$600 billion of investment in the United States economy across AI, energy, aviation - and $142 billion for military equipment - as President Donald Trump continues his deal-making tour of the Middle East. Trump, flanked by America's business elite such as Elon Musk and Sam Altman - as well as CEO's from IBM, Blackrock, Citigroup, Palantir and NVIDIA - was welcomed onto stage and gave a lengthy speech about peace and business prosperity in the region.Broker of peace?“I am willing to end past conflicts and forge new partnerships for a better and more stable world, even if our differences may be very profound,” Trump said in a long speech in Riyadh. “My preference will always be for peace and partnership, whenever those outcomes can be achieved. Always. “In recent years, far too many American presidents have been afflicted with the notion that it’s our job to look into the souls of foreign leaders and use U.S. policy to dispense justice for their sins… “I believe it is God’s job to sit in judgement - my job [is] to defend America and to promote the fundamental interests of stability, prosperity, and peace. “Before our eyes, a new generation of leaders is transcending the ancient conflic
Politics
Sussan Ley elected first female Liberal party leader
Sussan Ley has made history as the first woman to lead the Liberal Party, securing the leadership in a narrow contest against shadow treasurer Angus Taylor. The 63-year-old former deputy leader, backed by the party’s moderate wing, won 29 votes to Mr Taylor’s 25 in the ballot. Her elevation comes after a disastrous federal election result for the Coalition, which saw former leader Peter Dutton lose his seat and the party reduced to just 42 seats in the House of Representatives. Ted O'Brien, most recently the party’s energy spokesperson, was elected deputy leader after defeating Phil Thompson 38 votes to 16. Northern Territory senator Jacinta Nampijinpa Price did not contest the deputy leadership after defecting from the Nationals to support Mr Taylor’s leadership bid earlier in the week. Ms Ley now faces the challenge of uniting a fractured party that remains closely tied to the previous leadership, with both she and Mr Taylor having served under Peter Dutton. Throughout the campaign, Ms Ley positioned herself as a centrist and called for the party to modernise its image and policies. She noted in a statement released last week, “Many Australians, including women and younger Australians, feel neglected by the

Politics
Philippines: Duterte wins mayoral election from prison
Former Philippine President Rodrigo Duterte has won the mayoral election in his home city despite being held in detention at the International Criminal Court (ICC) on charges of murder as a crime against humanity. According to results released by the Commission on Elections, he won in a landslide with 405,000 votes compared to his nearest competitor's 49,000. He was brought to the Hague in March over his bloody war on drugs that killed thousands and landed him in jail. Duterte won greatly due to his influence in the southern city and his reputation as a crime-buster. His daughter, Vice President Sara Durete, was widely expected to run for president, but could be blocked from politics should a jury made up of the country’s Senate vote to impeach her. Asked on Monday about her father's likely victory, she said "he will not be here. Our expectation is that the vice mayor (Sebastian) will be the acting mayor". But she added that plans would be made for him to be sworn in as mayor. "The ICC lawyer said once we get proclamation papers, we will discuss how he can take oath," she said. Related contentDuterte elected mayor of home city from Hague prison
Politics
Perceptions of the US have fallen below China: study
Global perceptions of the United States have plummeted since Trump’s second term as president, according to an annual study of democracy perceptions published on Monday. The report commissioned by the Alliance of Democracies Foundation found that perceptions of the U.S. have even fallen below views of China. Alliance founder and former NATO Secretary General Anders Fogh said perceptions likely dropped due to Trump’s tariffs and reactions from other leaders. "President Trump has triggered a trade war, scolded Ukraine's president in the Oval Office, left allies feeling vulnerable and enemies emboldened,” he said. "It's no surprise that opinions have slipped even among people like me who spent their lives admiring the United States and what it stood for.” The survey ranked perceptions of countries from -100% to 100% and views on the U.S. fell to -5% from 22% last year, compared to China rising from 5% last year to 14% this year.Credit: POLITICOThe share of countries with a positive view on the U.S. also fell from 76% last year to 45% this year. Trump was even more unpopular than Vladimir Putin, Elon Musk and Xi Jinping, with 58% of those surveyed having negative views on the president.
Politics
Zelensky urges Putin to call ceasefire in negotiations
Ukrainian President Volodymyr Zelensky has said he is ready to meet with Russian President Vladimir Putin face-to-face to discuss a ceasefire. This comes not long after United States President Donald Trump took to Truth Social to urge the Ukrainian President to agree to talks with Putin. “President Putin of Russia doesn’t want to have a Cease Fire Agreement with Ukraine, but rather wants to meet on Thursday, in Turkey, to negotiate a possible end to the BLOODBATH,” Trump posted. “Ukraine should agree to this, IMMEDIATELY.” In response, Zelensky said he was looking to negotiate while in Turkey and hopes that Putin is ready to come up with a long-term solution to the war. “We are ready to talk, to end this war. Thursday. Türkiye. President Trump has expressed support. All the leaders support this,” he said on X. He said that the killings need to stop and that Russia has to end the war. “A full and unconditional ceasefire, one that lasts long enough to provide a necessary foundation for diplomacy, could significantly bring peace closer,” he said. “Ukrainian forces will be ready to respond symmetrically — to ensure fairness. We have repeatedly heard from our partners that they are prepared to strengthen sanctio
Politics
The Philippines heads to the polls for midterm elections
The Philippines nation is heading to the polls for their midterm elections, as a feud continues between two political dynasties. This election also marks the first time the nation will be allowed to vote online, meaning a smoother process for a massive overseas population to cast their ballots. Voting runs for 12 hours from 07:00 am local time (9:00 AEST), with early results expected soon after. The midterms will see a battle between candidates backed by President Ferdinand "Bongbong" Marcos Jr. and those supported by his Vice-President Sara Duterte. Duterte is the daughter of the nation's former president Rodrigo Duterte, who is currently awaiting trial in The Hague for crimes against humanity, over his "war on drugs". Duterte and Marcos ran together in the 2022 general election and won by a landslide, but their heavyweight political relationship has fallen apart since then. There are almost 69 million eligible voters who will decide the result of the 24-seat Senate, which will oversee Duterte's impeachment trial. The trial could see her barred from political office for life, ahead of her own presidential ambitions for 2028. If Marcos' Senate choices win more seats, it increases his chances of successfully