German investor mood slumps on trade war fears 11 out of Thai cave, hopes rise all will survive

German investor mood slumps on trade war fears

AFP/File / Daniel ROLAND Confidence among investors in Germany plunged sharply in July, the ZEW economic institute said, reaching its lowest level since August 2012 over signs that a trade war was far from abating

Confidence among investors in Germany plunged sharply in July, the ZEW economic institute said Tuesday, reaching its lowest level since August 2012 over signs that a trade war was far from abating.
"Above all, fears of an escalation in the international trade war with the United States" drove the institute's barometer based on a survey of financial players down 8.6 points to reach -24.7, ZEW president Achim Wambach said.

President Donald Trump has hit steel and aluminium imports to the US with tariffs and threatened to do the same to European cars, after the European Union retaliated with border taxes of its own on American goods.
Major German firms have also suffered from the White House's trade war with Beijing, the second front in Trump's battle to slash US deficits, as their cars built in America face new tariffs when entering China.
Investors' views of the current situation in both Germany and the 19-nation eurozone worsened, suggesting recent "good news on industrial production, industrial orders and the labour market are more than cancelled out by the expected negative effects on exports" from the trade war, Wambach said.
Investors surveyed by ZEW also saw a bleaker future outlook for the 19-nation eurozone, with that index falling 6.1 points to reach -18.7.
ZEW polled 201 financial analysts and investors to compile its monthly index.

11 out of Thai cave, hopes rise all will survive

AFP / YE AUNG THU Eleven of the trapped boys have been guided to safety from the twisting, submerged passages of the Tham Luang cave

Three more boys were rescued from a flooded Thai cave on Tuesday, officials said, leaving just one friend and their football coach left to be saved and complete an astonishing rescue mission that has captivated the world.
Authorities were confident of getting the final two out by Tuesday evening, 18 days after the dozen boys and their coach became trapped deep inside the Tham Luang cave in northern Thailand.

"(They) will be extracted today," rescue chief Narongsak Osottanakorn told reporters on Tuesday morning after elite foreign divers and Thai Navy SEALs escorted eight members of the "Wild Boars" football team out in highly risky operations over the previous two days.
Then on Tuesday afternoon multiple sources involved in the operation said three more boys had been brought out.

AFP / Gal ROMA The ups and downs of the rescue bid have entranced Thailand and also fixated a global audience

The 12 boys, aged from 11 to 16, and their 25-year-old coach, ventured into the cave on June 23 after football practice and got caught deep inside when heavy rains caused flooding that trapped them on a muddy ledge.
They spent nine harrowing days trapped in darkness until two British divers found them.

Authorities then struggled to devise a safe plan to get them out, mulling ideas such as drilling holes into the mountain or waiting months until monsoon rains ended and they could walk out.
With oxygen levels in their chamber falling to dangerous levels and complete flooding of the cave system possible, rescuers pushed ahead with the least-worst option of having divers escort them out through the extremely narrow and water-filled tunnels.
The ups and downs of the rescue bid have entranced Thailand and also fixated a global audience, drawing support from celebrities as varied as US President Donald Trump, football star Lionel Messi and tech guru Elon Musk.
The emergence of the second batch of four boys on Monday evening was greeted with a simple "Hooyah" by the SEAL team on their Facebook page, an exclamation that lit up Thai social media.
Positive medical reports on the rescued group further fuelled the sense of joy and optimism.

AFP / Lillian SUWANRUMPHA Experts warned that drinking contaminated water or otherwise being exposed to bird or bat droppings in the cave could lead to dangerous infections

"All eight are in good health, no fever... everyone is in a good mental state," Jedsada Chokdamrongsuk, permanent secretary of the public health ministry, said at Chiang Rai hospital where the boys were recuperating on Tuesday morning.
However the boys will remain in quarantine until doctors were sure they had not contracted any infections from inside the cave.

Experts warned that drinking contaminated water or otherwise being exposed to bird or bat droppings in the cave could lead to dangerous infections.
But the early signs on the initial eight were promising, with X-rays and blood tests showing just two had signs of pneumonia and that they were in a "normal state" after taking antibiotics, Jedsada said.
Some had even asked for "bread and chocolate spread", he added.
- Final push -
Following a similar pattern as the previous two days, the divers ventured back into the cave at 10:00am on Tuesday, Narongsak told reporters.

AFP/File / LILLIAN SUWANRUMPHA The emergence of the second batch of four boys Monday was greeted with a simple "Hooyah" by the SEAL team on their Facebook page, an exclamation that lit up Thai social media, while positive medical reports further fuelled the sense of joy

However, unlike Sunday and Monday when only four were brought out each day due to logistical constraints, rescuers would try to extract all of the remaining five in one operation, Narongsak said.
A doctor and three SEALS who had stayed with the footballers would also come out on Tuesday, he added.

The escape route was a challenge for even experienced divers. The boys had no previous diving experience so the rescuers trained them how to use a mask and breathe underwater via an oxygen tank.
One fear had been that they would panic while trying to swim underwater, even with a diver escorting them.

AFP / YE AUNG THU The escape route is challenge for even experienced divers. The boys have no previous diving experience so the rescuers have been training them how to use a mask and breathe underwater via an oxygen tank.

Although there have been no major reported complications during the initial rescues, the death of a former Thai Navy SEAL diver who ran out of oxygen in a flooded area of the cave on Friday underscored the dangers of the journey.
"I cannot understand how cool these small kids are, you know? Thinking about how they've been kept in a small cave for two weeks, they haven't seen their mums," Ivan Karadzic, who runs a diving business in Thailand and has been involved in the rescue mission, told the BBC.

"Incredibly strong kids. Unbelievable almost."
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