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Colombia’s new president takes office with hardline pledge on security and economy

ByJustpaste.in

Abelardo De La Espriella has been sworn in as Colombia’s president in Cali, breaking with the tradition of holding the inauguration ceremony at the congressional building in Bogotá.

The 48-year-old former lawyer and ally of US President Donald Trump won June’s runoff election on a platform focused on hardline security measures, significant cuts to state spending, and the expansion of national energy production.

During his inaugural speech at the Pichincha Battalion military base, De La Espriella declared that peace negotiations with armed groups are completely exhausted.

He stated that criminal syndicates must either submit to the rule of law or face a direct response from security forces. To combat drug trafficking, he announced plans to resume aerial spraying to eradicate coca crops and confirmed that Colombia will join the US-led Shield of the Americas programme.

On the economic front, De La Espriella pledged to freeze public spending and simplify the tax regime to stimulate private investment, while proposing to reduce the size of the state by up to 40%. He confirmed that established social programmes would remain intact.

To boost declining reserves, the new administration plans to expand oil and gas exploration, including the use of responsible fracking, alongside efforts to strengthen state-owned energy firm Ecopetrol.

De La Espriella’s inauguration reflects a wider political shift across Latin America. Incoming Finance Minister Miguel Gomez noted a fiscal deficit between 7% and 8% of GDP, indicating that initial governance will depend on executive decrees whilst navigating a divided congress.

Meanwhile, opposition figures led by Senator Ivan Cepeda organized peaceful demonstrations in Barranquilla, pledging to defend democratic institutions and monitor potential rollbacks of social protections.

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    Hungary shuts only nuclear plant amid drought

    ByJustpaste.in

    BUDAPEST: Hungary has taken the unprecedented step of shutting down its only nuclear power plant after severe drought pushed the Danube River to critically low levels, threatening the facility’s ability to safely cool its reactors and raising fears of an energy crisis during an intense summer heatwave. The closure of the Paks Nuclear Power Plant marks the first complete shutdown in the facility’s 44-year history. The plant, which typically supplies between one-third and 40 percent of Hungary’s electricity, has been forced offline as water levels in the Danube continue to fall amid one of Central Europe’s worst droughts in recent decades. Prime Minister Peter Magyar warned that the country now faces its “most critical five days,” with temperatures expected to climb to around 40 degrees Celsius just as electricity demand peaks. In a video message shared on social media, Magyar said the shutdown would place enormous pressure on Hungary’s electricity grid, public services and essential infrastructure. “Tomorrow, the Paks power plant will not be generating, while the hottest days are still ahead,” he said, urging citizens and businesses to reduce electricity consumption during evening peak hours between 5 p.m. and 10 p.m. The 2-gigawatt facility operates four Russian-built reactors that rely on water from the Danube for cooling. With river levels dropping to record lows, authorities determined that continuing operations could compromise reactor safety. Officials have also warned that the plant could remain offline for several weeks if weather conditions fail to improve. The drought has affected more than just power generation. Falling water levels have disrupted river transport, slowed tourism and prompted water-use restrictions in over 100 cities and villages, including areas surrounding Budapest. To maintain electricity supplies, Hungary has begun importing emergency power from neighboring countries while considering additional measures to stabilize the grid. The government is also weighing mandatory electricity restrictions for large industrial consumers if conditions worsen. Officials estimate the crisis could cost the country between 100 billion and 200 billion forints (approximately $315 million to $630 million) because of soaring electricity import prices. Climate experts say the situation highlights the growing vulnerability of Europe’s energy infrastructure to extreme weather events linked to climate change. Nuclear power plants across the continent depend on rivers and lakes for cooling, making prolonged droughts an increasingly serious operational challenge. For now, authorities remain focused on conserving electricity and closely monitoring the Danube’s water levels. With scorching temperatures forecast to continue, Hungary faces a difficult balancing act between ensuring public safety, maintaining energy security and managing one of the country’s most severe climate-related emergencies in decades.

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    PM Shehbaz orders scientific system to assess tax …

    ByJustpaste.in

    Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to develop a scientific and comprehensive method to assess tax potential in different sectors of the economy. The new system is aimed at improving tax collection. It will also help identify sectors with untapped revenue potential. The government wants to strengthen tax administration and reduce tax evasion. The prime minister issued the directives during a meeting on FBR reforms in Islamabad on Wednesday. He directed the FBR to work with the power sector to identify businesses and individuals involved in the informal economy. Authorities will also identify those suspected of avoiding taxes. Shehbaz instructed officials to take legal action against people and businesses found involved in tax evasion. The prime minister said improvements in the FBR’s monitoring system were already producing results. He pointed out that sugar production data had matched FBR records for the first time in Pakistan’s history. He described the development as an important sign of improved monitoring and tracking. Shehbaz praised FBR Chairman Rashid Mahmood Langrial and his team for their efforts. He also appreciated taxpayers and businesses that were following tax laws. The prime minister said the government had provided maximum possible support to export-oriented and domestic industries. He said the government would continue facilitating businesses while ensuring compliance with tax regulations. He directed the FBR chairman and senior officials to spend the first week of every month in Karachi. They will meet business representatives and address their concerns. Shehbaz also ordered the expansion of digital production monitoring. He directed officials to make tracking systems operational in the textile, beverages, steel, poultry, edible oil and ghee, and tyre sectors by December. He also stressed that appointments and transfers within the FBR must be made strictly on merit. The prime minister praised the new system for evaluating officers. He said merit and transparency must remain central to FBR reforms. He directed authorities to prepare a list of high-performing officers. The best-performing officials will be considered for awards on Independence Day. Shehbaz also ordered an immediate third-party audit of customs bonded warehouses. The audit will examine the warehouses and identify possible irregularities. Officials will then be required to take corrective measures where necessary. The meeting was informed about progress on production tracking systems and human resource reforms. Officials said tracking systems were already fully operational in the sugar, cement, tobacco, tiles and fertiliser sectors. Work in five additional sectors was also nearing completion. These sectors have an estimated tax potential of more than Rs700 billion. Officials said tracking systems were also being developed for nine other production sectors. These sectors are estimated to have an additional tax potential of around Rs560 billion. The prime minister directed authorities to complete indirect tax tracking across the production sector by the end of the year. The meeting also reviewed reforms in the FBR’s workforce. Newly recruited officers are receiving specialised training. Existing officers are also undergoing training. The programmes have been designed around merit and performance. Officials said the training modules were aligned with international standards and Pakistan’s tax requirements. A new performance evaluation system has also been introduced. Under the system, high-performing officers can receive recognition. Officials who fail to meet performance standards can face penalties. The government has also appointed 957 third-party auditors. The move is intended to improve transparency and strengthen tax-related processes. Recruitment of 280 goods evaluators is also under way. The evaluators will work under the customs faceless assessment system. The meeting also discussed measures to reduce unnecessary tax disputes. A Case Scrutiny Committee is being established for this purpose. The committee will determine whether tax cases should proceed based on their merits. Officials also provided an update on Alternative Dispute Resolution Committees. By June 2026, 152 out of 377 applications had been resolved within 90 days. The process resulted in the recovery of Rs54 billion in tax revenue. Digital reforms also reviewed Prime Minister Shehbaz Sharif separately reviewed progress on the national digital vision. He ordered immediate measures to make the newly established Sky47 AI national central data centre available to federal government institutions. The prime minister said the initiative would help modernise government services. He said citizens would eventually be able to use a single digital identity to access multiple public services. These services could include government document verification, banking, healthcare and transfers. The prime minister said a central national data centre would bring information from federal institutions together. He said this would reduce the need for separate data centres. It could also help save public resources. Shehbaz said the national digital vision was important for building a more integrated society. He highlighted three key areas of the programme. These include the digital economy, digital citizen services and digital government services. He directed authorities to initially focus on health, agriculture, utilities, housing and small and medium-sized enterprises. The aim is to ensure that citizens begin receiving improved digital services as quickly as possible. Officials said digital implementation was already under way in agriculture, food, health, energy, housing and SMEs. Work has also started in 14 additional priority sectors. The housing component will introduce a central identification number for public and private properties. The SME component will create an integrated system of unique legal identities for businesses. The government believes these measures can improve transparency and economic activity. Shehbaz also ordered an early meeting of the National Digital Commission. The meeting will include key stakeholders. Provincial governments will also be consulted. The commission was established under the Digital Nation Pakistan Act 2025. It is chaired by the prime minister and includes the chief ministers of all provinces. The prime minister said consultation with federal and provincial institutions was essential for effective implementation. He also stressed the importance of international standards and global best practices.

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    Morocco names 655-Mile coastal highway

    ByJustpaste.in

      RABAT: Morocco has officially named its 655-mile (1,055-kilometer) coastal expressway after U.S. President Donald J. Trump, according to reports. The decision was announced through a royal decree issued by King Mohammed VI, recognizing the highway as the Donald J. Trump Expressway. The expressway stretches from the city of Tiznit in southern Morocco to Dakhla, a strategically important city located in the country’s southern region. Previously known as the Tiznit–Dakhla Expressway, the highway is one of Morocco’s most significant infrastructure projects. It covers approximately 655 miles (1,055 kilometers) and was built at an estimated cost of around US$1 billion. The project was designed to improve transportation and strengthen economic links between Morocco’s northern and southern regions. The expressway is expected to facilitate trade, encourage tourism, and provide easier access to remote areas. It also plays an important role in connecting communities and supporting regional development. The decision to rename the highway reflects Morocco’s recognition of President Donald Trump’s contributions to strengthening relations between the United States and Morocco. The announcement has attracted international attention because of the symbolic significance of naming such a major national infrastructure project after a foreign leader. In response to the announcement, U.S. President Donald Trump expressed his gratitude to King Mohammed VI. In a message, President Trump thanked the Moroccan monarch for what he described as a “great honor.” He said he deeply appreciated the gesture and praised the strong friendship between the two countries. President Trump also stated that he hopes to have the opportunity to travel on the newly renamed expressway in the near future. He described the highway as an impressive achievement and said he looked forward to visiting Morocco again. The Tiznit–Dakhla route is considered one of Morocco’s largest transportation investments in recent years. It was developed to improve road safety, reduce travel time, and support economic activity throughout the country’s southern provinces. The highway also serves as an important transportation corridor for commercial vehicles carrying goods between different regions. Infrastructure projects of this scale are often viewed as symbols of national development and long-term economic planning. Renaming the expressway after President Trump has generated interest internationally and is likely to be seen as a diplomatic gesture highlighting the close ties between Morocco and the United States. Morocco and the United States have maintained longstanding diplomatic relations, cooperating in areas such as trade, security, investment, and regional stability. The renaming of the expressway further underscores the importance both countries place on their bilateral partnership. The announcement has been widely reported by regional media and has sparked discussion about the significance of honoring foreign leaders through national landmarks. Whether viewed as a diplomatic tribute or a symbolic act of friendship, the decision marks a notable moment in Morocco–U.S. relations and adds another chapter to the history of cooperation between the two nations.

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    US imposes tariffs and price floors on Chinese-dominated polysilicon supply chain

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    US President Donald Trump has signed a executive proclamation under Section 232 of the Trade Expansion Act of 1962, introducing a 15 per cent tariff and minimum import price floors on products made from polysilicon. The critical raw material forms the foundational supply chain for both semiconductor chips and solar panels, a sector currently dominated by Chinese manufacturing. The executive action establishes clear import price thresholds across key processing stages. Under the new policy, raw polysilicon is set at a minimum price floor of $21 per kilogram, while polysilicon ingots and wafers are capped at a floor of $100 per kilogram. Solar cells face a minimum price of $0.22 per watt, and finished solar modules or panels carry a minimum threshold of $0.38 per watt. The order also directs the Commerce Department to establish targeted incentive programs for domestic companies investing in polysilicon production facilities. While semiconductor manufacturing accounts for roughly 2.4 per cent of global polysilicon demand, the material’s economic viability depends directly on the volume scale maintained by solar manufacturing. US solar manufacturers and polysilicon producers, including Corning, Hemlock Semiconductor, Wacker Chemie, First Solar, and Qcells, welcomed the strategic protections as essential for safeguarding domestic supply chains necessary for advanced computing and renewable energy. The new trade protections take effect on 4 December 2026, granting buyers a four-month window to adjust existing supply contracts before the higher price thresholds apply.

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    Sugar mills seek approval to export 585,000 tonnes…

    ByJustpaste.in

    The Pakistan Sugar Mills Association (PSMA) has requested the federal government to allow the export of 585,000 tonnes of surplus sugar, saying the country has sufficient stocks to meet domestic demand while supporting sugarcane growers ahead of the next crushing season. In separate letters addressed to Deputy Prime Minister Ishaq Dar and the Minister for National Food Security, the association urged the government to grant immediate permission for sugar exports, as it has done in previous years. According to the letters, Pakistan had 3.4 million metric tonnes of sugar in stock as of July 15, 2026, while the country’s average monthly consumption stands at approximately 567,000 metric tonnes. The association said that even before the start of the upcoming crushing season, an estimated 1.158 million metric tonnes of sugar would remain in stock, ensuring ample supplies for domestic needs. PSMA further stated that another bumper sugarcane crop is expected during the next crushing season, which is projected to produce around 8 million metric tonnes of sugar—well above the country’s annual requirement. The association warned that with the sugarcane sowing season approaching, growers are facing uncertainty due to concerns over excess sugar stocks and limited storage capacity. It urged the government to allow the export of surplus sugar, including stocks held as strategic reserves, within one month of the beginning of the new crushing season. According to the association, timely exports would help stabilise the domestic market, create storage space for the new crop, and ensure better returns for sugarcane farmers

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    North Korea accuses NATO of expanding war preparations

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    PYONGYANG: North Korea has accused NATO of increasing preparations for future conflicts, claiming the alliance’s planned expansion of military fuel infrastructure reflects a shift toward a more aggressive military posture. In a statement carried by the state-run Korean Central News Agency (KCNA), Pyongyang criticised NATO’s reported plans to upgrade and expand its fuel supply network across Europe. The project reportedly includes new pipelines and fuel storage facilities aimed at improving military logistics between western Europe and newer eastern and northern member states. North Korea claimed the expansion of fuel infrastructure shows NATO is strengthening its ability to maintain strategic reserves and conduct large-scale military operations. It alleged that the alliance is preparing not only for conflicts in Europe but also for possible involvement in other regions, including the Asia-Pacific. The commentary accused NATO of increasing its military presence in the Asia-Pacific region and criticised the alliance’s cooperation with countries that Pyongyang considers hostile. North Korea claimed that NATO’s recent activities near the Korean Peninsula have contributed to rising regional tensions. Pyongyang also criticised NATO members’ participation in multinational military exercises, including the Rim of the Pacific (RIMPAC) drills. It claimed such exercises demonstrate that the alliance views the Asia-Pacific as a possible area of future military confrontation. North Korea warned that NATO’s expansion of military capabilities and logistics networks could increase global instability. It said strengthening military infrastructure would encourage an arms buildup and create further tensions between major powers. The allegations come amid growing concerns over security developments in Europe and the Asia-Pacific. NATO, however, has repeatedly stated that its military posture is defensive and focused on protecting member countries and deterring potential threats.

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