In a remarkable turnaround, China’s service sector experienced its fastest growth in five months, indicating a robust rise in new business and injecting a renewed sense of optimism into the industry, according to the latest Caixin/S&P Global services purchasing managers’ index (PMI) released on Thursday. Contrary to an official survey that suggested a contraction […]
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In a significant step towards deepening economic collaboration, Nicaragua and China officially initiated trading under a new free trade agreement on Monday. This landmark agreement grants the Central American nation the opportunity to export approximately 71% of its products to the largest Asian market without facing tariffs. State media reports reveal that the exported […]
In December, South Korea witnessed a third consecutive month of export growth, albeit at a slower pace, according to recent data. While global semiconductor sales remained robust, weakened demand for Korean products in China tempered overall export expansion. The data revealed a 5.1% increase in exports, totaling $57.66 billion in December. This marked a […]
In a significant development, citizens of Romania and Bulgaria are set to enjoy hassle-free air and sea travel within the European Union and select neighboring countries starting March 31, 2024. The Council of EU governments announced on Saturday that individuals from these EU member states will no longer require a passport to travel to most […]
In a strategic move signaling continuity in economic policies, Spanish Prime Minister Pedro Sanchez has appointed Carlos Cuerpo as the new Economy and Trade Minister, succeeding the outgoing Nadia Calvino. Cuerpo, a 43-year-old close ally of Calvino, affirmed in his inaugural speech that his approach would align with the successful policies of his predecessor. […]
In a significant update, U.S. Secretary of Commerce Gina M. Raimondo issued a statement following President Biden’s signing of two Presidential Proclamations, prolonging the European Union’s access to U.S. tariff rate quotas (TRQs) for steel and aluminum for an additional two years. Secretary Raimondo underscored President Biden’s economic agenda, which places a strong emphasis […]
In a move to foster ongoing negotiations and collaboration, U.S. President Joe Biden announced on Thursday the extension of the suspension of tariffs on European Union steel and aluminum for an additional two years. This decision underscores the commitment of both the United States and the European Union to finding comprehensive solutions to address challenges […]
In a collaborative effort to address the escalating issue of record migration at their shared border, the United States and Mexico have pledged to enhance cooperation, as announced in a joint statement following high-level talks. The discussions, which took place after U.S. Secretary of State Antony Blinken’s visit to Mexico, focused on strategies to manage […]
In a transformative year for the oil and gas sector, the industry embarked on a $250 billion acquisition spree in 2023, capitalizing on high stock prices to secure cost-effective reserves and brace for anticipated industry consolidation. Major players, including Exxon Mobil, Chevron Corp, and Occidental Petroleum, executed acquisitions totaling $135 billion, positioning themselves strategically to […]
In a positive development for cross-border trade, Ukrainian border services announced the resumption of lorry movement after Polish farmers concluded their blockade at one of the key border crossings between Ukraine and Poland. The blockade had disrupted truck traffic, causing delays and challenges for both nations. According to the Ukrainian border service’s statement on […]
Amid growing considerations for safety in the Red Sea, two vessels engaged in transporting oil or oil products between the U.S. Gulf Coast and India have chosen alternative routes, according to vessel tracking data. This adjustment aligns with the proactive efforts of a U.S.-led coalition working to enhance the security of vessels in the region, […]
In a significant development, the European Union (EU) and the United Kingdom (UK) have decided to grant electric vehicle (EV) manufacturers an extension until the end of 2026 to comply with local content regulations. This move effectively postpones the imposition of tariffs on electric vehicles traded between the EU and the UK. This extension, […]
In a recent conversation between U.S. President Joe Biden and Mexican President Andres Manuel Lopez Obrador, both leaders concurred on the necessity of enhancing border enforcement between their nations, as a surge in attempted border crossings has disrupted trade activities. This consensus was disclosed by the White House. In response to this shared concern, […]