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Trump’s inaugural brings the world’s billionaire elites en masse to DC

FROM LEFT: Priscilla Chan, Meta CEO Mark Zuckerberg, Lauren Sanchez, Amazon CEO Jeff Bezos, Alphabet CEO Sundar Pichai, and Tesla CEO Elon Musk attend Donald J. Trump’s inauguration as the next President of the United States in the rotunda of the United States Capitol in Washington, DC, Jan. 20, 2025. — SHAWN THEW/POOL VIA REUTERS

WASHINGTON — The attendees at a US presidential inauguration do not often resemble the annual gathering of the world’s richest in Davos, Switzerland, which kicked off on Monday, but the parallels were hard to ignore as Donald Trump was sworn in as US President.

The globe’s wealthiest individuals attended Mr. Trump’s inauguration in Washington on Monday and the glamorous balls to celebrate with the new president afterwards.

Among those seated prominently were the three richest men in the world: Elon Musk, Amazon Chief Executive Officer (CEO) Jeff Bezos, and Meta CEO Mark Zuckerberg, with a combined net worth of nearly $900 billion, according to Forbes.

To some, the presence of the world’s wealthiest represents the apex of Trump’s return to power in Washington after attempting to overturn the results of the 2020 election, which he lost to Joseph Biden.

To others, it stands as a warning that the new administration’s priorities in coming years will favor the most well-connected through tax, labor, trade and other policies. Ex-president Joseph Biden in his outgoing address warned of a growing oligarchy in the United States that endangers democracy.

US Senator Elizabeth Warren, a Democrat, noted the favorable seating for the tech CEOs at the inaugural — in front of Trump’s Cabinet nominees.

Mr. Musk, who spent upwards of $250 million on Mr. Trump’s re-election bid, after years ago suggesting he retire following the Jan. 6, 2021 attack on the US Capitol, is perhaps the most well-situated.

The Tesla CEO has been tabbed to lead a new panel to find ways to cut government spending, is expected to push for speedier regulatory approval for self-driving vehicles, and there are questions about what will happen to federal investigations into him and his companies with Trump in office.

“Some of the business people who have been cozying up to Trump represent companies that get a lot of government contracts or are worried about government regulation,” said Darrell West, senior fellow at the Brookings Institution.

Following Trump’s November win over Vice President Kamala Harris, numerous CEOs quickly ingratiated themselves with Trump, particularly Mr.  Zuckerberg.

Meta announced it would suspend factchecking on its US platform. Mr. Zuckerberg sat next to Supreme Court Justice Brett Kavanaugh at the exclusive inauguration luncheon on Monday, an event also attended by Bezos and Apple CEO Tim Cook, and the Meta CEO also hosted a pre-inaugural ball with other billionaire Republican donors on Monday.

Numerous other members of the Forbes list were in Washington as well, including LVMH CEO Bernard Arnault and several family members, who rank fifth-richest worldwide; Alphabet CEO Sundar Pichai, who chatted up Trump during the luncheon, and Mukesh Ambani, the richest man in India.

The tie between business interests and US policy was on display just before Trump took office in a frenzied few days for popular social media app TikTok.

US legislators in 2024 voted by overwhelming margins to ban the app in the United States on national security concerns, only to watch Mr. Trump put the law on hold as he invited TikTok CEO Shou Zi Chew to the inauguration at the last minute.

Trump has floated the idea that the US government could partially own TikTok, while some media outlets have reported that Beijing has discussed having Musk somehow take ownership of TikTok.

“You certainly see the obvious and overt involvement of the richest people in the world on his first day in office,” said David Kass, executive director at the Americans for Tax Fairness. — Reuters

United States to pull out of global corporate tax deal

US PRESIDENT-ELECT Donald J. Trump is set to assume office on Jan. 20, 2025. — REUTERS

PRESIDENT Donald Trump on Monday declared that a global corporate minimum tax deal “has no force or effect” in the US, effectively pulling America out of the landmark 2021 arrangement negotiated by the Biden administration with nearly 140 countries.

Trump, in a presidential memorandum issued hours after taking office, also ordered the US Treasury to prepare options for “protective measures” against countries that have — or are likely to — put in place tax rules that disproportionately affect American companies.

The European Union, Britain and other countries have adopted the 15% global corporate minimum tax, but the US Congress never approved measures to bring the US into compliance with it. The US has a roughly 10% global minimum tax, part of Mr. Trump’s landmark 2017 tax cut package approved by Republicans.

But countries that have adopted the 15% global minimum tax may be in a position to collect a “top-up” tax from US companies paying a lower rate. Mr. Trump’s memo referred to such actions as “retaliatory.”

“Because of the Global Tax Deal and other discriminatory foreign tax practices, American companies may face retaliatory international tax regimes if the United States does not comply with foreign tax policy objectives,” the memo reads.

“This memorandum recaptures our Nation’s sovereignty and economic competitiveness by clarifying that the Global Tax Deal has no force or effect in the United States.”

After years of stalled negotiations on global tax issues hosted by the Paris based-Organization for Economic Cooperation and Development (OECD) to end competitive reductions in corporate tax rates, former US Treasury Secretary Janet Yellen agreed to the deal in October 2021.

Mr. Trump’s Treasury nominee Scott Bessent said on Thursday that following through with the global minimum tax deal would be a “grave mistake.”

Another part of the OECD negotiations were aimed at a new arrangement to share taxing rights on large, profitable multinational companies with countries where their products are sold. The effort was aimed at replacing unilateral digital services taxes that target largely American technology firms from Meta Platforms’ Facebook to Apple.

But these so-called “Pillar 1” talks have largely stalled, and without US participation, countries including Italy, France, Britain Spain and Turkey may be tempted to reinstate their digital taxes, risking retaliatory tariffs from Washington. — Reuters

TikTok gets reprieve with Trump order but with twist

STOCK PHOTO | Image by Solen Feyissa from Unsplash

WASHINGTON — President Donald Trump signed an executive order on Monday seeking to delay by 75 days the enforcement of a ban of popular short-video app TikTok that was slated to be shuttered on Jan. 19.

But while signing the order, Trump suggested that the United States government should be a half owner of TikTok’s US business in return for keeping the app alive. He warned that he could impose tariffs on China if Beijing failed to approve a US deal with TikTok.

The short video service used by 170 million Americans was briefly taken offline for US users on Saturday, just before a law that said it must be sold by its Chinese owner ByteDance on national security grounds, or be banned, took effect on Sunday. US officials had said that under ByteDance, there was a serious national security risk of Americans’ data being misused.

TikTok restored access on Sunday and thanked Trump for providing assurances to TikTok and its business partners that they would not face hefty fines to keep the app running. The app and website were operational on Monday, but TikTok was still not available for download in the Apple and Google app stores.

Mr. Trump’s order, signed hours after he was inaugurated on Monday, directs the attorney general to not enforce the law “to permit my administration an opportunity to determine the appropriate course of action with respect to TikTok.”

But the legality of Mr. Trump’s executive order to “Save TikTok” is unclear. The law requiring the divestiture was passed by big majorities in Congress, signed by President Joseph R. Biden, and upheld by a unanimous Supreme Court.

The law also does not grant Trump authority to extend the deadline unless ByteDance has “binding agreements” to sell TikTok and it is unclear any agreements exist.

Representative Frank Pallone said Trump’s order is “circumventing national security legislation passed by an overwhelming bipartisan majority in Congress.”

The executive order capped 48 hours of legal maneuvering and political intrigue that left millions of TikTokkers struggling for answers about the fate of their app.

The debate over TikTok also comes at a tense moment in US-China relations. Trump has said he intends to place tariffs on China but has also indicated he hopes to have more direct contact with China’s leader.

While signing the executive order Monday evening, Trump said that he could see the US government taking a 50% stake in TikTok and as part of that stake, the US could police the site.

Trump added that if a deal isn’t approved by China, “there’s no value. So if we create that value, why aren’t we entitled to like half?” He said the company could be worth hundreds of billions of dollars.

The US has never banned a major social media platform. The law passed overwhelmingly by Congress gives the incoming Trump administration sweeping authority to ban or seek the sale of other Chinese-owned apps.

Trump saving TikTok represents a reversal in stance from his first term in office. In 2020, he unsuccessfully sought to ban the app — as well as Tencent’s 0700.HK WeChat — over concerns the company was sharing Americans’ personal information with the Chinese government.

More recently, Trump has said he has “a warm spot in my heart for TikTok,” crediting the app with helping him win over young voters in the 2024 presidential election.

Later in 2020, Trump blessed a deal for a new ownership structure with Walmart and Oracle  agreeing to take ownership stakes in the new company.

Trump said the agreement would include the companies paying for a $5-billion US education fund as part of the deal. The deal ultimately fell apart.

It would be unprecedented for the US government to demand an equity stake in a major company in exchange for approving its continued use.

Trump’s comments did not address whether ByteDance or other Chinese entities would be allowed to hold a stake in TikTok or if the deal would address US national security concerns about US user data.

The order directs the Justice Department to issue letters to companies like Apple, Alphabet’s Google and Oracle that supply services to TikTok “stating that there has been no violation of the statute and that there is no liability for any conduct that occurred during the above-specified period.” It is still unclear if Trump’s order will be enough for the companies to restore the app to stores in the United States.

“Frankly, we have no choice. We have to save it,” Mr. Trump said at a rally on Sunday ahead of his inauguration.

That announcement came as China indicated for the first time it would be open to a transaction keeping TikTok operating in the US

When asked about the app’s restoration and Trump’s desire for a deal, China’s foreign ministry told a regular news briefing on Monday that it believed companies should “decide independently” about their operations and deals. — Reuters

How can businesses use TikTok to increase sales?

According to Cleorine Faith C. Loque, founder and chief executive officer of Hiraya Pilipina, small businesses can increase their sales by maximizing their online presence.

“TikTok is very special for us because 60% of our sales come from TikTok,” Ms. Loque told BusinessWorld in an interview.

“TikTok is a combination of shopping and entertainment so we’re able to educate them (customers) about our products, and since we have sparked their curiosity, they can also immediately order on the yellow basket,” she added.

Ms. Loque said CEOs can also leverage social media platforms, like TikTok, to establish loyal customers and communities that will support their business.

Interview by Almira Louise Martinez
Edited by Jayson John Mariñas

Quezon City rolls out free community-based cervical cancer screening program

Photo: Edg Adrian A. Eva

by Edg Adrian A. Eva, Reporter

The local government of Quezon City launched a free community-based cervical cancer screening program last January 15, and will be rolled out at selected Southstar Drug branches and local communities in February.

The program expands the city’s cervical cancer screening initiative, which was started in 2019, aiming to curb cervical cancer cases that claim the lives of twelve Filipino women daily, according to the World Health Organization. It is the second most common cancer and the fourth leading cause of death among women aged 15 to 44. 

The LGU also said in a statement that 8,549 Filipino women are diagnosed with cervical cancer annually, accounting for around 4,380 related deaths each year. 

Dr. Karen Gemma A. See, Cancer Control Coordinator at the Quezon City Health Department, said the mortality rate is staggering despite cervical cancer being highly preventable, highlighting the need to bring screening services closer to communities. 

“We want to address our problem with accessibility, especially for cervical cancer [We want to address our problem with accessibility, especially for cervical cancer],” Ms. See told BusinessWorld.  

Ms. See told BusinessWorld that the program will utilize a self-sampling HPV testing model, allowing women to collect their own samples at home and return them to health workers within a few days. 

Test results will be available within 7 to 10 days, and patients who test positive will receive notifications via email and phone calls from designated health workers. 

Ms. See assured the public that treatment options, including thermal ablation—a procedure that prevents cervical cancer from progressing—will be available. Patients with more complex cases will be referred to gynecologists for specialized care and free medication. 

“Maari po kayong pumunta sa ating local health center para mawala po inyong takot at ng ma-avail niyo rin po ang acting free cervical screening services [You may visit our local health center to ease your fears and avail of our free cervical screening services],” Ms. See said.

Apart from local health centers, Quezon City’s free cervical cancer screening service will be available at the Southstar Drugstore branch on Matalino Street and Robinsons Novaliches. 

Those who wish to avail of the service must present a valid ID and proof of residency in Quezon City.

Baliuag University celebrates 100 years

Baliuag University’s 100th anniversary is a celebration of its rich history and a recommitment to its vision of a brighter future. Its centennial theme, “Celebrating our heritage, embracing our radiant future,” translated as “Ipagbunyi pamana ng kahapon, yakapin maningning na bukas,” captures the essence of its legacy and futures thinking, fostering a sense of connection and pride.

Throughout its history, Baliuag University has significantly impacted the local community by providing accessible, quality education and engaging in various outreach initiatives. The University’s unwavering commitment to social responsibility is exemplified through its scholarship programs and partnerships with local and international organizations, guiding students toward meaningful careers that benefit society. Since its establishment, Baliuag University has nurtured future leaders and innovators across diverse fields, including arts, education, health sciences, social sciences, engineering, IT, hospitality industry, and business.

As Baliuag University celebrates this significant milestone, it continues to look toward the next decades. Its commitment to innovation is unwavering; upcoming initiatives aim to enhance academic offerings and incorporate advanced technologies into learning. The University plans to introduce new programs that address the evolving needs of the workforce, with a specific focus on sustainability, entrepreneurship, and leadership development, providing a bright future for its students.

The University, led by its President Patricia Bustos-Lagunda, invites alumni, community members, and partners to participate in a series of events throughout the year starting in February 2025 to reflect on what has become of Baliuag Institute, Baliuag Junior College, Baliuag Colleges, and what is known today as BALIUAG UNIVERSITY in the newly-minted City of Baliwag, Bulacan.

Baliuag University is one proud community of leaders, educators and lifelong learners that live up to its core values of responsibility, integrity, service, excellence and respect (RISER).

Baliuag University President Patricia Bustos-Lagunda is determined to lead the university amidst the changing education landscape through agile innovation, internationalization and relevant program offerings whilst making positive impact to the community and society at large.

Seated L-R: President Patricia B. Lagunda, Dr. Norman S. Bustos, Chairman Asteya M. Santiago, Atty. Abigail M. Santiago; Standing L-R: Corporate Treasurer Monina B. Santos, Corporate Secretary Susan B. Jacinto; Not in picture: Nelson R. Santiago

The governing Board of Directors is poised to bring Baliuag University to greater heights beyond its 100th year.

www.baliaugu.edu.ph

https://www.facebook.com/BaliuagU/

https://www.instagram.com/baliuagu/

 

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UN says 915 aid trucks entered Gaza on Monday

EMAD EL-BYED-UNSPLASH

UNITED NATIONS – The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) said 915 aid trucks entered the Gaza Strip on Monday, the second day of a ceasefire between Israel and Palestinian militants Hamas after 15 months of war.

OCHA cited information from Israel and the ceasefire guarantors, the U.S., Qatar and Egypt. On Sunday, the U.N. said some 630 aid trucks entered the Palestinian enclave, with at least 300 of them going to the north, where experts have warned a famine looms.

The ceasefire deal requires 600 truckloads of aid to be allowed into Gaza every day of the initial six-week ceasefire, including 50 carrying fuel. Half of the 600 aid trucks would be delivered to Gaza’s north.

Data from the U.N. Palestinian relief agency UNRWA showed 2,892 aid trucks entered Gaza in December. Aid is dropped off on the Gaza side of the border, where it is picked up by the U.N. and distributed.

But gangs and looters have made that hard. Data from OCHA shows 2,230 aid truckloads – an average of 72 a day – were picked up in December, while between Jan. 1-5 it was a daily average of 51.

Israel has laid waste to much of Gaza and the pre-war population of 2.3 million people has been displaced multiple times. U.N. Secretary-General Antonio Guterres has described the humanitarian situation as “catastrophic.”

Mr. Guterres told the U.N. Security Council on Monday that the U.N. still faces “significant obstacles, challenges and constraints.” He said the U.N., aid groups and the private sector need rapid, safe and unimpeded access.

“Visas, permits, and other enabling conditions must be in place quickly to allow a surge of desperately needed relief,” he told the 15-member council. “We require the necessary technical, protective and communications equipment.”

Mr. Guterres said the parties – Israel and Hamas – must coordinate with the U.N. in a timely and effective manner so it can do its humanitarian work. “This also includes the restoration of public order and safety to prevent the looting of humanitarian supplies,” he added.

He urged countries to take in people who need medical treatment, for sufficient commercial supplies to be able to enter Gaza and for explosive ordnances to be removed.

Israel says Hamas killed some 1,200 people in the Oct. 7, 2023 attack that triggered the war and the Gaza health ministry says more than 47,000 Palestinians have been killed in the conflict. – Reuters

UK’s Reeves to tell Davos: ‘time to invest in Britain is now’

REUTERS

LONDON – British Finance Minister Rachel Reeves will urge company bosses at the World Economic Forum meeting in Davos, Switzerland, to invest in the UK, emphasizing its political and economic stability and pro-business government, her office said on Tuesday.

Ms. Reeves, who will be accompanied by Business Minister Jonathan Reynolds, will also highlight recent efforts to slash burdensome regulation in meetings with various business leaders, including JPMorgan JPM.N CEO Jamie Dimon and Goldman Sachs GS.N boss David Solomon.

“We are one of the most exciting places in the world for them to put their money, with a history of innovation, a skilled workforce and a stable government that backs business,” Reeves said in the statement. “The time to invest in Britain is now.”

Ms. Reeves’ travel to the Swiss town of Davos on Wednesday and Thursday comes after the International Monetary Fund last week bumped up its British growth forecast for 2025, while a PwC survey published on Monday ranked Britain as the second most investible country after the United States.

Since returning to power last July, Ms. Reeves’ Labor Party has been struggling with a sluggish economy, while a bond market selloff earlier this month, which had a particular impact on British markets, also piled pressure on the new government.

Ms. Reeves has urged British regulators to tear down barriers to growth. On Monday, she told the Financial Times that she was in favor of proposals from the country’s financial regulator to lift limits on mortgages to spur home-buying.

The Davos meeting this year comes as global leaders are bracing for looming tariffs from U.S. President Donald Trump, who was sworn in to office on Monday. A WEF survey of experts released last week ranked armed conflict as the top risk in 2025, with extreme weather coming second. – Reuters

Great white shark’s 9-million-year-old ancestor found in Peru

STOCK PHOTO | Image by Gaetano Bellissima from Pixabay

LIMA – Paleontologists in Peru on Monday unveiled the 9-million-year-old fossil of a relative of the great white shark that once inhabited the waters of the southern Pacific Ocean, where it liked to devour sardines.

The nearly-complete Cosmopolitodus Hastalis fossil was found some 235 km (146 miles) south of Lima in Peru’s Pisco basin, a hot, desert area famed for frequent discoveries of ancient marine species.

The shark is believed to be an ancestor of the great white shark. It is now extinct, but its teeth once spanned up to 8.9 cm (3.5 inches) in length, while adults could grow to near seven meters in length – the size of a small boat.

Cesar Augusto Chacaltana, an engineer at the Peruvian geological and mining institute (INGEMMET), said at a presentation the shark’s remains showed “exceptional fossilization.”

Researchers presented the ancient shark’s remains in several glass urns, including one containing a giant, sharp-toothed jaw.

“There are not many complete shark (fossils) in the world,” paleontologist Mario Urbina added at the presentation, adding the remains of numerous sardines were found inside the stomach.

Urbina noted that as anchovies did not yet exist when the shark roamed the open seas and oceans, sardines formed a staple diet for marine predators.

Peruvian paleontologists in November presented the fossil of a young crocodile that lived more than 10 million years ago off central Peru, where Pisco and the agricultural region of Ica are found.

In April last year, researchers displayed the fossilized skull of the largest river dolphin known to date, which once inhabited the Amazon some 16 million years ago. – Reuters

International reaction to Trump’s inauguration

RAWPIXEL.COM

The following is reaction from global leaders to Donald Trump being sworn in as U.S. president on Monday.

 

VOLODYMYR ZELENSKIY, UKRAINIAN PRESIDENT

“President Trump is always decisive, and the peace through strength policy he announced provides an opportunity to strengthen American leadership and achieve a long-term and just peace, which is the top priority.”

 

BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER

“I believe that working together again we will raise the U.S.-Israel alliance to even greater heights.”

“On behalf of the people of Israel, I also want to thank you for your efforts in helping free Israeli hostages.

“I look forward to working with you to return the remaining hostages, to destroy Hamas’ military capabilities and end its political rule in Gaza, and to ensure that Gaza never again poses a threat to Israel.”

 

TAYYIP ERDOGAN, PRESIDENT OF TURKEY

“Since Mr. Trump repeatedly said he would end the Russia-Ukraine war, we as Turkey will do whatever necessary in this regard. We need to resolve this issue as soon as possible. This issue will be on our agenda with our talks with Mr. Trump, and we would take our steps accordingly. I wish Mr. Trump’s second term would bring good for all humanity.”

 

OLAF SCHOLZ, GERMAN CHANCELLOR

“Today President Donald Trump takes office. Congratulations! The U.S. is our closest ally and the aim of our policy is always a good transatlantic relationship. The EU, with 27 members and more than 400 million people, is a strong union.”

 

JUSTIN TRUDEAU, CANADIAN PRIME MINISTER

“Congratulations, President Trump. Canada and the U.S. have the world’s most successful economic partnership. We have the chance to work together again — to create more jobs and prosperity for both our nations.”

 

KEIR STARMER, BRITISH PRIME MINISTER

“For centuries, the relationship between our two nations has been one of collaboration, cooperation and enduring partnership … Together, we have defended the world from tyranny and worked towards our mutual security and prosperity.”

“With President Trump’s longstanding affection and historical ties to the United Kingdom, I know that depth of friendship will continue.”

 

GIORGIA MELONI, PRIME MINISTER OF ITALY

“I am certain that the friendship between our nations and the values that unite us will continue to strengthen the cooperation between Italy and the USA … Italy will always be committed to consolidating the dialogue between the United States and Europe, as an essential pillar for the stability and growth of our communities.”

 

URSULA VON DER LEYEN, EUROPEAN COMMISSION PRESIDENT

“Best wishes President @realDonaldTrump, for your tenure as 47th President of the United States. The EU looks forward to working closely with you to tackle global challenges. Together, our societies can achieve greater prosperity and strengthen their common security. This is the enduring strength of the transatlantic partnership.”

 

MARK RUTTE, NATO SECRETARY GENERAL

“With President Trump back in office we will turbo-charge defense spending & production. My warm congratulations to @realDonaldTrump on his inauguration as 47th President of the USA, and to @JDVance as Vice President. Together we can achieve peace through strength – through @NATO.”

 

LUIZ INACIO LULA DA SILVA, PRESIDENT OF BRAZIL

“On behalf of the Brazilian government, I congratulate President Donald Trump on his inauguration. Relations between Brazil and the USA are marked by a history of cooperation, based on mutual respect and a historic friendship. Our countries have strong ties in various areas, such as trade, science, education and culture. I am sure that we can continue to make progress in these and other partnerships.”

 

CHARLES, BRITAIN’S KING:

The king has sent a personal message of congratulations to President Trump on his inauguration, reflecting on the enduring special relationship between the UK and U.S., according to Buckingham Palace.

 

ULF KRISTERSSON, PRIME MINISTER OF SWEDEN

“Warm congratulations @realDonaldTrump on being sworn in as the 47th President of the United States. Sweden looks forward to continued close cooperation with the U.S.”

 

ALEXANDER STUBB, PRESIDENT OF FINLAND

“I would like to extend my heartfelt congratulations to you @realDonaldTrump as you assume office as the President of the United States. The U.S. is our key strategic partner and ally. I look forward to close cooperation during your term.”

 

JONAS GAHR STOERE, PRIME MINISTER OF NORWAY

“I congratulate President Donald Trump. The United States is Norway’s most important ally, and there are strong ties between our two nations. I look forward to a good working relationship with President Trump and his new administration,” Stoere said in a statement.”

 

HAMAS OFFICIAL SAMI ABU ZUHRI:

“We are happy with the departure of Biden, who has the blood of Palestinians on his hand. We hope for the end of this dark era that harmed the U.S. before anyone and that Trump can build his policies on balanced foundations that can cut the road against Netanyahu’s evils that want to drown the region and the world.”

 

SYRIA’S DE FACTO LEADER AHMED AHMED AL-SHARAA

“The past decade has brought immense suffering to Syria, with the conflict devastating our nation and destabilizing the region. We are confident that he is the leader to bring peace to the Middle East and restore stability to the region”.

 

TAIWAN PRESIDENT LAI CHING-TE

“The United States is an important security, economic, and trade partner of Taiwan, and a strong ally that shares the values of democracy and freedom. On behalf of the people of Taiwan, I would like to extend my sincere congratulations to the new President Donald J. Trump and Vice President J.D. Vance.”

 

CUBAN PRESIDENT MIQUEL DIAZ-CANEL

U.S. President Donald Trump’s action of putting the Caribbean nation back on the U.S.’ state sponsors of terrorism list was “an act of arrogance and disregard for the truth.”

 

JAPANESE PRIME MINISTER SHIGERU ISHIBA

“I listened to President Trump’s inaugural speech, and I felt that it was ‘Make America Great Again’ itself. Traditionally, inaugural speech by presidents have been more about setting a tone…I felt very much that it sounded like a continuation of what Mr Trump had been saying throughout his campaign. President Trump prioritises bilateral negoatiations over multilateral frameworks, so we will focus on how to leverage the national interests of both countries to contribute to world peace and the global economy. We aim to establish a trusting relationship through substantial discussions.”

 

AUSTRALIA PRIME MINISTER ANTHONY ALBANESE

“I congratulate President Trump on his inauguration, it is a significant achievement to be elected President of the United States of America, not once but twice now, and I look forward to having a constructive engagement with him.”

 

SOUTH KOREA’S ACTING PRESIDENT CHOI SANG-MOK

“The government will strive to further strengthen policy cooperation with the United States and promote mutual interests based on the shared value of the Korea-U.S. alliance,” Choi said, citing the alliance’s slogan of “We Go Together”.

 

HONG KONG LEADER JOHN LEE

Hopes for full efforts with U.S. President Donald Trump to promote positive relations between Washington and the Chinese-ruled city, although “we will always be prepared for the worst”.

– Reuters

Trump’s new meme coin soars on his first day in office, lifts other tokens

RAWPIXEL.COM

PARIS/SINGAPORE – U.S. President Donald Trump’s new crypto token soared to more than $10 billion in market value on Monday, while enthusiasm over his crypto-friendly administration helped briefly lift bitcoin to a new record.

Launched Friday night, Mr. Trump’s so-called “memecoin” surged from less than $10 on Saturday morning to as high as $74.59 before giving up some of its gains on Monday. The token, branded $TRUMP and criticized by ethics experts, was last trading at $33.88, according to cryptocurrency price tracker CoinGecko.

World Liberty Financial, a separate Trump-linked crypto project, also announced on Monday that it had completed an initial token sale, raising $300 million, and would look to issue additional tokens.

The expansion of Mr. Trump’s crypto interests comes as his administration is widely expected to usher in a “golden age” for cryptocurrencies, in stark contrast to the regulatory scrutiny the industry experienced under former President Joe Biden.

Bitcoin, the world’s largest cryptocurrency, hit a new record of $109,071 on inauguration day when Trump was sworn-in as the 47th U.S. President, but later pared those gains and was last trading at $101,867.40.

“The cryptocurrency market gained additional popularity in recent hours due to the launch of the TRUMP and MELANIA cryptocurrencies just before the inauguration,” said Grzegorz Drozdz, market analyst at Conotoxia Ltd, in a statement.

The Trump and Melania cryptocurrencies, the latter which was launched on Sunday, were created on the Solana blockchain.

The price of Solana’s coin also rose over the weekend, hitting an all-time high of $294.33 on Sunday.

“I think in the short term there’s a chance this could be a sell-the-news event,” said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital, adding that crypto investors had been anticipating some executive actions to be rolled out during Trump’s first day in office.

“Bitcoin has already retreated … We are expecting further volatility here and likely a selloff.”

Mr. Trump’s crypto token launched on Friday, trading under $10, but quickly rose, peaking at $72.62 on Sunday. It traded lower on Monday, falling from $52.15 to trade in the $30 range late in the day.

Eighty percent of Mr. Trump coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight, according to its website.

It says the coins are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP'” and are not an investment or security.

The launch of World Liberty Financial just two months before November’s U.S. election caused concern over ethics and conflicts of interest. The launch of Trump’s “memecoin” on Friday night also raised red flags, even among those in the cryptocurrency industry. Several key figures in Trump’s administration and his circles have ties to the crypto industry.

“While it’s tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora’s box of ethical and regulatory questions,” said Justin D’Anethan, an independent crypto analyst based in Hong Kong.

The Trump Organization said this month the president would hand daily management of his multi-billion-dollar real estate, hotel, golf, media and licensing portfolio to his children when he entered the White House. Trump’s net worth is estimated by Forbes at $6.7 billion, although that does not include his crypto ventures.

 

SPECULATIVE ASSETS

Excitement over expected executive orders, and other policy actions, that could kickstart a sea change in U.S. cryptocurrency policy have helped turbocharge crypto prices in recent months — although Trump did not announce any new policies on Monday as many in the industry had hoped for.

“The market has some great expectations about a bitcoin strategic reserve and a loosening of regulations around digital assets, but it’s more likely these developments will be drip-fed over a series of months rather than days,” said Mr. Dibb.

The huge rise in the new coin prices prompted concern among some analysts.

“Meme cryptocurrencies, like these, are prone to large fluctuations and we generally consider them as speculative assets,” Mr. Drozdz at Conotoxia said.

Trump’s coin represented a blending of the world of digital assets into the political arena, but it also “blurs the lines between governance, profit and influence,” Mr. D’Anethan said. – Reuters

Trump rescinds executive orders protecting diversity, LGBTQ rights

WASHINGTON – President Donald Trump on Monday rescinded executive orders that had promoted diversity, equity and inclusion (DEI) and promoted rights for LGBTQ+ people and racial minorities, fulfilling promises to curtail protections for the most marginalized Americans.

Shortly after taking office, Mr. Trump repealed 78 executive orders signed by his predecessor Joe Biden, including at least a dozen measures supporting racial equity and combating discrimination against gay and transgender people.

Mr. Trump’s policies represent a major departure from Mr. Biden’s administration, which prioritized implementing diversity measures across the federal government. Mr. Trump rescinded two orders that Mr. Biden signed on his first day in office four years ago, one advancing racial equity for underserved communities and another combating discrimination based on gender identity or sexual orientation.

Mr. Trump repealed other orders aimed at helping Black, Hispanic, Native American and Asian Americans and Pacific Islanders.

“This week, I will also end the government policy of trying to socially engineer race and gender into every aspect of public and private life,” Mr. Trump said in his inaugural address.

“We will forge a society that is color blind and merit-based. … As of today, it will henceforth be the official policy of the United States government that there are only two genders, male and female,” Mr. Trump said.

The Trump administration plans even more executive action soon, an incoming White House official told reporters, including plans to review and potentially end what the official described as “discriminatory programs,” including environmental justice grants and diversity training initiatives.

The DEI rollback and Mr. Trump’s inauguration coincided with this year’s Martin Luther King Jr. Day holiday commemorating the civil rights leader.

Civil and human rights advocates and groups immediately vowed to protect minorities and challenge Trump’s agenda.

“We refuse to back down or be intimidated. We are not going anywhere, and we will fight back against these harmful provisions with everything we’ve got,” Kelley Robinson, president of the Human Rights Campaign, the largest LGBTQ+ rights advocacy group in the U.S., said in a statement.

Rights advocates have said any DEI and transgender rights rollbacks implemented by Trump would be a blow to hard-fought efforts to secure equitable policies and undermine progress made to address systemic prejudices that have deprived equal opportunities for marginalized groups for decades.

“We will continue our relentless efforts to protect immigrant rights, combat voter suppression, and confront hate and discrimination in all its forms,” Asian Americans Advancing Justice said in a statement.

Many corporations have distanced themselves from DEI measures, with some rolling back DEI initiatives and programs in recent weeks. Meanwhile, companies such as Costco and Apple have remained resolute in maintaining their commitment to DEI.

As part of the executive orders, federal funds will not be used to promote “gender ideology,” the official said, a loose term often used by conservative groups to reference any ideology that promotes non-traditional views on sex and gender. Rights and advocacy groups view the term as an anti-LGBTQ trope and dehumanizing.

The Trump administration would only recognize two sexes, male and female, that were unchangeable, and would instruct federal employers to use the term sex and not gender, which can refer to gender norms and identity, the incoming White House official said in a background briefing.

U.S. funding will also not be used on gender transition medical procedures, the official said without providing detail.

The Trump administration also planned to limit the scope of a major victory for transgender rights under the 2020 U.S. Supreme Court ruling of Bostock v Clayton County, in which the high court found that civil rights protections against discrimination “on the basis of sex” applied to sexuality and gender identity.

The attorney general would provide explicit guidance on how to apply Bostock, the official said.

Transgender rights have become a contentious political topic in recent years. During November’s election season, many Republicans campaigned on reversing transgender laws with a particular focus on transgender women participating in sports.

During a pre-inauguration rally on Sunday, Donald Trump said that he will take action to “keep all men out of women’s sports.”

It was not immediately clear what the executive orders would mean for the U.S. military. During his first term, Mr. Trump announced that he would ban transgender troops from serving in the military, and his administration did freeze recruitment of transgender personnel. Mr. Biden overturned that decision when he took office in 2021. – Reuters

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