International News 03 July 2025
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Indonesia and Saudi Arabia Sign US$27 Billion Deals Focused on Energy and Mineral Cooperation
Indonesia and Saudi Arabia have signed agreements and memorandums of understanding worth approximately US$27 billion across sectors such as clean energy, petrochemicals, and mineral resources. The deals were finalized during President Prabowo Subianto’s visit to Saudi Arabia on Wednesday (July 3), where he met Crown Prince Mohammed bin Salman. According to the Saudi Press Agency (SPA), both countries agreed to enhance cooperation in crude oil supply, energy sustainability, and mineral development. Over the past five years, bilateral trade between the two nations has reached US$31.5 billion.
U.S. Dollar Suffers Worst Half-Year Performance Since 1991 Amid Trump’s Tariff Policies and Market Volatility
The U.S. dollar has plunged 10.8% against a basket of major currencies in the first half of 2025, marking its worst H1 performance since 1973 and the worst half-year showing since late 1991. The decline was driven by growing concerns over President Donald Trump’s aggressive tariff policies, fears surrounding U.S. fiscal stability, and threats to Federal Reserve independence. The dollar lost its appeal as a safe-haven asset, while currencies like the pound and euro gained significantly. Markets saw turbulent swings, especially after Trump’s “Liberation Day” tariff package in April caused the worst weekly U.S. market drop since 2020, eventually forcing the White House to delay implementation by 90 days.