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By Nitya Chakraborty In just ten days between October 25 and November 3 this year, four national elections were scheduled. Out of these, elections were held in Brazil and Serbia on October 25 and in Israel on October 27. Only on November 3, the midterm elections will be held in the United States. The bitter […]

The article Four Elections In Ten Days: Authoritarianism Is Finally Getting A Backlash appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Ashok Nilakantan Ayers WASHINGTON: The final week of America’s 2026 midterm election campaign has become a high-stakes confrontation between President Donald Trump and a Democratic opposition seeking to turn voter dissatisfaction over the economy into control of Congress. Neither Trump nor former president Barack Obama is on the ballot. Yet both are criss-crossing the […]

The article Barack Obama Imparts Big Momentum To Democratic Campaign In Last Phase appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nitya Chakraborty Incumbent President of Brazil Luiz Inacio Lula da Silva, better known globally as Lula made a dramatic comeback in October 25 run off Presidential elections by comfortably defeating the far right candidate Flavio Bolsonaro who was the frontrunner after the first round of elections on October 4. After 100 per cent counting […]

The article Lula’s Historic Win In Brazilian Election Is A Major Boost To Latin American Left appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nantoo Banerjee The long-drawn Ukraine-Russia war seems to be turning out to become the world’s largest and most expensive proxy war in the modern era, in which the European Union and the United Kingdom have so far spent nearly $300 billion on Ukraine to tame Russia. The Syrian civil war since 2011 may be […]

The article The UK, EU Spent Billions On Ukraine To Proxy-Fight Russia appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By K Raveendran Escalating tensions between the United States and Iran are threatening to push global oil markets into another period of turbulence, but India has found an unexpected measure of protection in President Donald Trump’s decision to ease sanctions on Russian energy. The policy reversal, driven partly by Washington’s own need for Russian diesel, […]

The article India Gains Crucial Oil Lifeline Amid Iran Tensions And Crude Oil Spikes appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By T N Ashok NEW YORK: The latest diplomatic signals from Washington and New Delhi suggest that a prolonged India–US trade confrontation may finally be approaching a settlement. US President Donald Trump says a deal is close. Secretary of State Marco Rubio, after meeting External Affairs Minister S. Jaishankar in Mumbai on October 20, has […]

The article India-U.S. Trade Deal Draft Is Ready, But Still There Are Few Gaps appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The report, “The Governance Performance of the Fifty States: The U.S. Berggruen Governance Index”, applies the research team’s “governance triangle” from past global country rankings to the 50 US states. The report has now been presented to the public at Columbia University in New York.

“Unlike in the Berggruen Governance Index’s cross-national comparisons, where the three dimensions are broadly correlated, in the 50 U.S. states they often run counter to each other,” the authors conclude. “This may seem counterintuitive, as one might expect a well-governed state to finish high on all three and a poorly governed one to place low across all three.”

The report concluded that state capacity and public goods provision are “essentially uncorrelated.” Massachusetts, which has among the highest per capita incomes, was third in public goods but 49th in state capacity. Mining and agriculture-dependent Wyoming was 36th in public goods provision but No. 1 in state capacity.

• Public goods provision, which combines quality-of-life metrics such as health and educational outcomes with infrastructure and quasi-public goods that are often delivered by the private sector, saw four of the top five from the Northeast, while the bottom seven were in the South. All but one of the top 16 states were won by Democratic nominee Kamala Harris in the 2024 US presidential election. Nineteen of the bottom 20 went to Donald Trump.
• Democratic accountability measures election procedures, which vary widely among states, along with scores for civil society activity and government openness. These include among others lobbying disclosures and state auditor independence. The top 12 states were a geographical mix of the West, Northeast and Midwest. Nine of that dozen voted for Harris, though the state with the highest score was reliably Republican Montana. The 10 lowest-ranked states were all Southern, and the bottom 20 were all won by Trump in 2024.
• State capacity foremost indicates debt levels, along with budget processes and effective welfare-state delivery such as unemployment insurance. The top-ranked states were geographically diversified, but no Northeastern state was among the top 12. All major regions were represented in the bottom 10, including notoriously debt-laden Rhode Island, Illinois, Connecticut and New Jersey.

The three components produce four state groupings identified by the authors:

• 14 fiscally sound and delivering states, which are half Republican and half Democratic and swing states, based on the 2024 presidential race.
• 16 strained but delivering states, which are mostly Democratic.
• Nine fiscally strong but poorly served states, almost entirely Republican.
• 11 low performing states, including only one Democratic state.

The report was written by principal investigator Helmut K. Anheier with co-authors Joseph C. Saraceno and Edward L. Knudsen, all of the UCLA Luskin School of Public Affairs, and produced as a collaboration of the Luskin School with the Berlin-based Hertie School, supported by the Berggruen Institute, a Los Angeles think tank.

During a panel discussion held with the release of the report at Columbia University, economic historian Adam Tooze focused on the states with poor scores for provision of public goods. He pointed out that for many public goods that in Europe are assumed to be state-led, such as health care, education and utilities, in the US the private sector has a greater role.

“If you look at all of the states which are underperforming, it’s the South, and the variable that’s operating here is race,” said Tooze, a Columbia professor. “The reason why these states don’t have large-scale public services is that white people who are richer don’t want to pay taxes to redistribute income to black people. And it’s not a secret; it’s the logic of American politics.”

Among the 11 low performing states, the very worst performers are in the South: Louisiana, Mississippi, Alabama and Kentucky.

Joseph C. Saraceno said that the 14 states classified in the report as fiscally sound and delivering “provide a moderate level of public goods while also having state capacity, or this measure of fiscal room that they find to be comfortable, or have a rainy day fund as needed.”

The group of fiscally strong, poorly served states have strong balance sheets but little to show for it in quality of life. Arkansas, for example, ranks seventh in state capacity but 46th in public goods provision. Tooze said those states have better fiscal resilience and “rank high on their capacity score because basically they’ve never done anything. So unsurprisingly, when push comes to shove, they could do something if one supposed they had politics that would allow them to.”

Edward Knudsen, another researcher who worked on the previous global versions of the Berggruen Governance Index, pointed out that the strained but delivering states are heavily traditionally Democratic Party states that also score higher for democratic accountability. “In a lot of the Democratic leaning states, you have more ability for the population to demand public goods. They in turn are able to receive them. That places this fiscal stress,” Knudsen said.

The full report “The Governance Performance of the Fifty States: The U.S. Berggruen Governance Index” can be downloaded here: https://ucla.app.box.com/s/hcruhr43fyhfw0uondid2e6fviqopmww

Frank Fuhrig, DNA

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China’s gross domestic product grew 4.5% year on year during July to September, exceeding economists’ forecast of 4.4% and accelerating from 4.3% in the preceding quarter, according to the National Bureau of Statistics.

Bitcoin briefly climbed towards $82,500 as cryptocurrency traders responded to the stronger economic figures and improving conditions in traditional financial markets. Nasdaq futures also advanced, reflecting renewed demand for technology shares following a difficult period for companies associated with artificial intelligence.

The market recovery was uneven, however. South Korea’s Kospi faced selling pressure after an initial improvement, highlighting continuing concerns about technology valuations and the substantial financing requirements of artificial intelligence development.

US Nasdaq futures gained approximately 1% during Asian trading, while contracts tracking the broader S&P 500 advanced around 0.7%. Lower energy prices provided additional support as investors assessed their implications for inflation, corporate earnings and borrowing costs.

China’s economic figures offered a measure of reassurance about activity in the world’s second-largest economy. Quarterly output increased 1.2% from the preceding three months, exceeding expectations for a 1.1% expansion and improving from 0.9% growth during April to June.

The stronger performance was supported by exports and industrial production, although weaknesses in household consumption and property investment continued to complicate the economic outlook.

Official figures showed industrial production increasing 5.5% year on year in September, compared with 5.2% in August. Retail sales grew 1.1%, indicating modest improvement in consumer spending despite persistent pressure on household confidence.

China’s government has established an annual economic growth target of approximately 4.5% to 5%, making the third-quarter performance significant for policymakers considering whether further stimulus measures are necessary.

Growth during the first nine months reached 4.6%, according to official estimates, keeping the economy within reach of the government’s full-year objective.

Financial markets nevertheless remained sensitive to concerns that China’s expansion depends heavily on exports and industrial investment rather than sustained improvements in domestic demand.

The property sector remained a particular concern, with investment continuing to contract despite measures intended to support homebuyers and stabilise developers.

Oil markets supplied another important influence on trading. Brent crude futures declined approximately 1.7% to $107.95 a barrel, while US crude futures slipped 0.8% to $100.62.

The decline followed developments surrounding Washington’s sanctions policy towards Russia. President Donald Trump indicated that restrictions could be eased, potentially allowing additional Russian energy supplies into international markets, although the administration had not finalised its position.

US Secretary of State Marco Rubio indicated that the administration could take up to 60 days to assess the economic consequences of changing sanctions arrangements.

Lower crude prices helped ease immediate concerns about inflation, particularly because energy costs influence transport, manufacturing and household expenditure across major economies.

US government bonds strengthened as yields declined. The benchmark 10-year Treasury yield fell approximately four basis points to 5.0525%, providing some relief to financial markets concerned about elevated borrowing costs.

Expectations surrounding Federal Reserve policy remained important for cryptocurrency investors. Lower inflation could eventually create additional room for monetary easing, although policymakers face competing pressures from energy markets and economic activity.

The Federal Reserve’s benchmark interest rate currently stands between 4.75% and 5%, with financial markets expecting policymakers to leave borrowing costs unchanged at their next meeting.

Across Asian equities, the initial advance reflected bargain hunting following substantial losses in technology stocks. Japan’s Nikkei and South Korea’s Kospi both experienced volatile trading as investors reassessed exposure to semiconductor manufacturers.

Concerns about artificial intelligence spending remained prominent. Goldman Sachs estimates that five major technology companies could increase their combined capital expenditure to approximately $1.2 trillion next year, raising questions about investment returns.

China’s currency strengthened against the dollar, with the yuan reaching approximately 6.6828, its strongest level since July 2022.

Gold traded around $4,181 an ounce, supported by declining bond yields, while the dollar remained under pressure against several currencies.

Elsewhere, European equity futures weakened amid political uncertainty in France, demonstrating the differing regional influences on international investment flows.

Chinese blue-chip shares edged lower after initially benefiting from the economic figures, with investors continuing to assess whether stronger industrial activity would translate into a sustained improvement in domestic consumption.

Japan’s foreign ministry confirmed on Thursday that the initial project would cost approximately $10 billion, with construction scheduled to begin before the end of 2026. Expansion of production facilities could eventually raise the total investment to about $21 billion, although the second factory remains conditional.

The agreement forms part of a $550 billion Japanese investment commitment negotiated with President Donald Trump’s administration in 2025, alongside a reduction in American tariffs on Japanese vehicles and other imports to 15 per cent.

GlobalFoundries said the first manufacturing plant at its existing Malta campus would begin production in 2029. An additional investment of approximately $10 billion would finance a second facility, with a decision on that expansion expected before the end of 2028.

Japan will supply the investment capital, while GlobalFoundries will provide manufacturing technology, technical expertise and operational management. The factories will be jointly owned by American and Japanese interests under an arrangement intended to expand semiconductor output without requiring the company to finance construction itself.

The first plant is expected to produce approximately 900,000 silicon wafers measuring 300 millimetres annually when fully operational. A second plant would add comparable capacity, substantially increasing the company’s manufacturing footprint in upstate New York.

GlobalFoundries estimates that the initiative will support approximately 27,000 construction and associated supply-chain jobs, alongside more than 1,000 skilled manufacturing positions in New York’s Capital Region. Those figures are projections rather than employment already created.

The US Commerce Department will separately receive an equity interest of approximately four per cent in GlobalFoundries. Chief executive Tim Breen said the transaction would raise the government’s overall holding to about seven per cent. The company is majority owned by Abu Dhabi’s Mubadala Investment Company.

GlobalFoundries shares advanced after the announcement, reflecting investor interest in an expansion model that could increase manufacturing capacity while limiting construction expenditure.

The ownership arrangements distinguish the investment from conventional private-sector semiconductor expansion. Japanese financing will underpin the factories, while the American government will gain a larger financial interest in the operator and participate in the broader manufacturing initiative.

GlobalFoundries also agreed with the Commerce Department to revise an existing award under the CHIPS and Science Act, reallocating $955 million towards investments in silicon photonics, silicon-germanium technology and advanced packaging at facilities in Malta and Burlington, Vermont.

These technologies are used in communications systems and data centres, where manufacturers are seeking faster connections and more efficient processing of large volumes of information. The separate funding revision does not represent an additional Japanese commitment to the two factories.

Japan’s foreign ministry described the New York project as the first semiconductor investment under the bilateral Strategic Investment Initiative announced in September 2025. It said the initiative was intended to strengthen supplies of mature-node chips used in automobiles, industrial machinery, smartphones and artificial intelligence data centres.

Although attention has focused heavily on advanced processors for artificial intelligence, mature-node semiconductors remain essential components in vehicles, industrial equipment and connected devices. Their availability is important to manufacturers seeking more geographically diversified supply chains.

The first facility will be built at an established semiconductor manufacturing location, allowing the investment to draw on existing industrial infrastructure and a local workforce. However, the announced timetable does not mean projected production capacity will be available immediately when operations begin.

Breen said GlobalFoundries had been chosen because large fabrication projects required manufacturing expertise and operational capabilities alongside financing. US Commerce Secretary Howard Lutnick welcomed the investment as a contribution to domestic manufacturing and employment.

The Japanese government expects the project to create commercial opportunities for its semiconductor equipment and materials suppliers. Tokyo Electron and SCREEN Holdings have expressed interest in supplying manufacturing equipment, while Tokyo Ohka Kogyo has indicated interest in materials and components.

Renesas Electronics, a major Japanese chipmaker supplying automotive and industrial customers, has expressed interest in purchasing output from the proposed facilities. Its participation could provide an important customer relationship as production plans advance.

Japan’s foreign ministry also identified smaller suppliers, including Fujikin and Kusakawa Seiki, as potential participants in the equipment and materials supply chain. Their involvement remains prospective, rather than a confirmed allocation of orders.