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US' gross national debt surpasses $31 trillion as new fiscal year begins

The nation's gross national debt has surpassed USD31 trillion, according to a US Treasury report released Tuesday that logs America's daily finances. Edging closer to the statutory ceiling of roughly USD31.4 trillion, an artificial cap Congress placed on the US government's ability to borrow, the debt numbers hit an already tenuous economy facing high inflation, rising interest rates and a strong US dollar. And while President Joe Biden has touted his administration's deficit reduction efforts this year and recently signed the so-called Inflation Reduction Act, which attempts to tame 40-year high price increases caused by a variety of economic factors, economists say the latest debt numbers are a cause for concern. Owen Zidar, a Princeton economist, said rising interest rates will exacerbate the nation's growing debt issues and make the debt itself more costly. The Federal Reserve has raised rates several times this year in an effort to combat inflation. Zidar said the debt "should

Donald Trump asks US Supreme Court to intervene in Mar-a-Lago dispute

Lawyers for former President Donald Trump asked the US Supreme Court on Tuesday to step into the legal fight over the classified documents seized during an FBI search of his Florida estate. The Trump team asked the court to overturn a lower court ruling and permit an independent arbiter, or special master, to review the roughly 100 documents with classified markings that were taken in the Aug. 8 search. A three-judge panel last month limited the special master's review to the much larger tranche of non-classified documents.

Technological battles heat up between US and China over semiconductor chips

Amid heightened cross-strait tensions between China and Taiwan, there is a shortage of semiconductor chips across the world, fuelling a technological cold war between the US and China

US announces 4 more advanced rocket systems to assist Ukraine in war

The US will soon deliver to Ukraine four more of the advanced rocket systems credited with helping the country's military gain momentum in its war with Russia. The High Mobility Artillery Rocket Systems, known as HIMARS, will be part of a new USD 624 million package of aid expected to be announced on Tuesday, according to US officials. The decision marks the first time the US has sent more HIMARS to Ukraine since late July, and it will bring the total number delivered so far to 20. The systems have become a key tool in Ukraine's ability to strike bridges that Russia has used to supply its troops, enabling Ukrainian forces to make inroads in Russia-controlled regions. The US in recent weeks also provided funding through a separate program the Ukraine Security Assistance Initiative so another 18 HIMARS can be purchased through longer-term contracts. USAI funds are being used as part of the effort by the US and Western allies to ensure Ukraine's forces are trained and equipped to ..

US to block carriers if they fail to stop automated calls to customers

The US Federal Communications Commission (FCC) has threatened to block calls from voice service providers that have failed to take action against illegal robocalls

September's credit wipeout foretells even more pain in for US investors

The pain is just beginning for investors in US credit markets after Federal Reserve tightening and recession angst sent investment-grade bonds, high-yield debt and leveraged loans spiraling in Sept

US Defence Secretary to host Pakistan Army chief for talks at Pentagon

US Defense Secretary Lloyd Austin on Tuesday will host Pakistan Army chief Gen Qamar Javed Bajwa at the Pentagon for talks amidst signs of enhanced military engagement between the two countries. Last week, Pakistani Foreign Minister Bilawal Bhutto Zardari was in the town meeting top officials of the Biden Administration, including Secretary of State Tony Blinken. Bajwa will be accorded an "enhanced honour cordon" at the riverside entrance of the Pentagon by Austin following which the two will be holding a meeting on bilateral and regional issues. America's engagement with Pakistan, in particular with its military, has increased in recent months. Last month, the US announced a USD450 million F-16 fighter jet sustenance package for Pakistan.

Donald Trump seeks $475 million in defamation lawsuit against CNN

US Former President Donald J Trump on Monday (local time) sued CNN, accusing the network of engaging in a smear campaign against him ahead of the 2024 presidential elections

US to impose costs on Iran for crackdown against peaceful protesters: Biden

US President Joe Biden has said they will impose costs on perpetrators of violence against peaceful protesters in Iran, the country witnessing protests over the death of a woman in the custody of the morality police. "This week, the United States will be imposing further costs on perpetrators of violence against peaceful protesters. We will continue holding Iranian officials accountable and supporting the rights of Iranians to protest freely," Biden said in a statement. Biden said the United States is making it easier for Iranians to access the internet. The United States is also holding accountable Iranian officials and entities, such as the morality police, that are responsible for employing violence to suppress civil society, he said. "I remain gravely concerned about reports of the intensifying violent crackdown on peaceful protests in Iran, including students and women, who are demanding their equal rights and basic human dignity," he said. They are calling for just and unive

LG Electronics unveils world's largest 97-inch OLED TV at US trade show

LG Electronics said it has showcased the world's largest organic light-emitting diode (OLED) TV at the latest trade show in the US in a bid to target the premium TV market in North America

Iran to receive $7 billion of its frozen foreign exchange assets from US

Negotiations have been held in recent times between Iran and the U.S. over Iran's 7 billion dollars of frozen foreign exchange resources from South Korea which are on the verge of being released

US Supreme Court welcomes back public to courtroom after abortion ruling

The Supreme Court is beginning its new term, welcoming the public back to the courtroom and hearing arguments for the first time since issuing a landmark ruling stripping away women's constitutional protections for abortion. Monday's session also is the first time new Justice Ketanji Brown Jackson, the court's first Black female justice, will participate in arguments. And the public is back for the first time since the court closed in March 2020 because of the coronavirus pandemic. The court's overturning of the nearly 50-year-old Roe v. Wade abortion decision is still reverberating in legal fights over state abortion bans and other restrictions. But a new stack of high-profile cases awaits the justices. Several cases the court has agreed to hear involve race or elections or both, and the court has also agreed to hear a dispute that returns the issue of free speech and LGBTQ rights to the court. Also hanging over the justices is some unfinished business from last term: the leak of a

Tesla delivers 343,000 cars in third quarter, says lower than expected

The US electric automaker Tesla on Sunday (local time) announced the delivery and production numbers for the third quarter, stating that it is lower than expected, according to media reports

General Atomics CEO Vivek Lall gets Lifetime Achievement Award in US

Vivek Lall, an Indian-origin General Atomics CEO, is honoured with the Lifetime Achievement Award by US President Joe Biden with citation of 'With Grateful Recognition'

US Congress approves stopgap funding bill ahead of govt shutdown deadline

The US House of Representatives has approved a stopgap funding bill to fund the government through mid-December, following a Senate passage.

Asia-Pacific presidential commission proposes stamping of H-1B visas in US

A presidential commission on Asian Americans and Pacific Islanders has unanimously approved a recommendation for the provision of stamping of H-1B visas inside the US, a move if accepted by President Joe Biden will come as a big relief to thousands of foreign professionals, particularly from India. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. As per the current mandatory practice, one needs to apply for a visa stamp at a US Consulate or Embassy abroad before one's H-1B status can be activated. The move came from the President's Advisory Commission on Asian Americans, Native Hawaiians, and Pacific Islanders during its meeting at the White House on Wednesday. Notably, a large number of them either new or waiting for the renewal of H-1B visas are faci

Japan to pay up to $320 million to US company for memory chip production

Japan is providing a major US chipmaker a subsidy of up to 46.6 billion yen ($322 million) to support its plan to produce advanced memory chips at a Hiroshima factory, the Japanese trade minister said Friday. The announcement to subsidise Micron Technology comes on the heels of US Vice President Kamala Harris' visit in Japan as the two countries step up cooperation on expanding manufacturing and supply chains for critical materials. I hope the deal will contribute to further expansion of cooperation between Japan and the United States in the area of semiconductors, Japan's Economy and Trade Minister Yasutoshi Nishimura said. He said the government approved the deal Friday under a law related to economic security. During her trip to Asia this week, Harris met with Japanese officials and semiconductor company executives to seek greater cooperation in strengthening semiconductor development and production amid China's growing influence. Micron was among the companies that participate

US will never recognise Russia's claims on Ukrainian territory: Joe Biden

In response to Russia's move to formally annex four more areas in Ukraine, US President Joe Biden said that Washington will "never, never, never recognise" Moscow's claims on Kiev's territory

US imposes sanctions on many companies for shipping Iranian petrochemicals

The US on Thursday imposed sanctions on several companies including those based in China, Hong Kong, India and the UAE for facilitating financial transfers and shipping of Iranian petroleum and petrochemical products. The US is taking further action to disrupt efforts to evade sanctions on the sale of Iranian petroleum and petrochemical products, Secretary of State Antony Blinken said. Specifically, the Department of State is imposing sanctions on two People's Republic of China (PRC)-based entities: Zhonggu Storage and Transportation Co Ltd, which operates a commercial crude oil storage facility for Iranian petroleum that provides a vital conduit for the Iranian petroleum trade, as well as WS Shipping Co Ltd, the ship manager for a vessel that has transported Iranian petroleum products, he said. The Department of the Treasury is also designating eight entities for their involvement in Iran's petrochemical trade. These entities are based in Hong Kong, Iran, India, and the United Arab

Five found dead after shooting in Central Texas neighbourhood in US

Five people were found dead in a Central Texas residential neighbourhood Thursday, officials said. Details on what happened were sketchy, but a spokesman for the Texas Department of Public Safety said officers of several law enforcement agencies converged on the neighbourhood in McGregor, about 20 miles (32 kilometers) southwest of Waco. Sgt. Ryan Howard declined to say if the five had gunshot wounds, saying that the cause of death was still to be determined. Law enforcement officers shot one person, and a suspect was in custody, he said. Howard declined to say if the suspect was the one shot, but he added that the suspect was alive and there was no ongoing threat to the public. No motives, relationships and other details were immediately determined, and identities were being withheld until relatives could be notified, he said. However, the McGregor Independent School District issued a statement that it had sent counselors to various campuses. In light of today's events, and out of