Executive summary: Tokyo and Asia-Pacific markets opened with a strong risk-on tone, led by a sharp jump in the Nikkei 225 and gains across Hong Kong, Seoul and Australian equities. Commodities were mixed but broadly firmer, with silver, WTI crude, gold and natural gas all higher, while the yen and yuan both strengthened against the dollar. The move points to a session shaped by commodity strength, currency shifts and renewed appetite for cyclical assets, especially autos and Japanese equities. [Continue Reading]
More than 150,000 people have been affected by Tropical Cyclone Maila in the Solomon Islands, according to the UN relief coordination office OCHA. The storm is described as the latest cyclone in the Pacific area and is continuing to drive significant humanitarian needs across the country. The source says the emergency is deepening because of storm damage, displacement and hidden wartime explosives. OCHA has characterized the situation as one of "significant humanitarian needs" across the Solomon Islands. No casualty figure, damage total or specific affected island is provided in the source. The report gives no detail on response operations, shelter... [Continue Reading]
Vanuatu's cabinet has approved a revised version of the Nakamal Agreement with Australia, moving the strategic pact closer to final ratification after months of negotiations.The updated agreement was signed off by the Council of Ministers on Thursday, according to people familiar with the talks.It now needs final approval from the Australian government before it can be signed.The pact is expected to see Canberra invest hundreds of millions of dollars in Vanuatu and strengthen Australia's role as the country's main security partner.The revised text is understood not to include the same limits on Chinese involvement that had been part of earlier... [Continue Reading]
The U.S. has carried out a third boat strike in five days in the Caribbean and eastern Pacific, killing two people and leaving one survivor.The strike targeted a boat accused of drug trafficking, according to the supplied row.It comes amid a series of similar attacks in the same maritime areas.The latest incident adds to a reported total of 57 attacks in the Caribbean and eastern Pacific against boats accused of drug trafficking.Survivors have been described as rare in those operations.The casualty count and the fact that one person survived make this strike notable within the wider campaign.It also suggests the... [Continue Reading]
Solomon Islands Prime Minister Jeremiah Manele has lost a no-confidence vote in parliament, ending months of political uncertainty and setting in motion the process to choose a new leader.Lawmakers voted 26 to 22 against Manele on Thursday, after a session marked by a heavy police presence outside parliament.Parliament was then adjourned so the governor general can make arrangements for the election of a new prime minister.The result removes the head of government in a country that has been in political impasse since March, when cabinet resignations and the exit of two coalition partners weakened Manele's Government for National Unity and... [Continue Reading]
The U.S. military has struck a vessel in the eastern Pacific, killing three people, in what officials described as part of an ongoing campaign against suspected drug-smuggling boats.U.S.Southern Command said the vessel was hit on Tuesday and that no U.S. military forces were harmed.It said intelligence had confirmed the boat was travelling along known narco-trafficking routes and was engaged in narco-trafficking operations.The command described those killed as "male narco-terrorists" and said the vessel was operated by designated terrorist organisations, without identifying them.It did not provide further details or evidence to support the claim.The strike is the latest in a series... [Continue Reading]