International Trade

Japan Set to Avoid Q2 Recession Amid April Boost in Exports

Asia & Pacific 16:59 21.05.2018(updated 17:00 21.05.2018) Get short URL Japanese exports are gaining momentum amidst a solid demand for manufactured goods overseas, whilst concerns over possible disruptions in international trade are driving near-term demand for Japanese cars and factory machinery. Kristian Rouz — The Japanese economy is likely to make a quick recovery for last quarter’s negative growth in the current quarter due to its solid foreign trade figures last month. Japan’s rising exports in cars and semiconductor factory equipment are meeting a solid demand…

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A trade war gets put ‘on hold’

U.S. President Donald Trump is getting a crash course in the realities of a globalized economy, and he is learning some early lessons that may preclude a real “crash” in the not-too-distant future. The man who declared that trade wars are “easy to win” is discovering that such victories are less cut-and-dried and the collateral damage may prove extensive. The most recent example of the education of Trump was evident last weekend when U.S. and Chinese negotiators announced that their…

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Another look at the China currency swap :: Bestnaira.com

    But more important is the expected easing of pressure on foreign currency reserves and exchange rate in Nigeria. This may not be so critical now that foreign reserve is on bumper profile but when placed at the time the idea was conceived, Nigeria really needed such agreement to stay alive in international trade. Bilateral trade volume between Nigeria and China was about $12.3 billion between January and November 2017. Nigeria is the second biggest importer of Chinese products…

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NNPC Issues Export Contract To 50 Local Firms

The Nigerian National Petroleum Corporation (NNPC) may have issued the 2018/2020 crude export contracts to 50 local and international oil traders, including Vitol, Trafigura and Glencore.It was gathered that as part of the efforts to encourage local participation in the lifting of crude, the corporation selected 20 Nigerian companies, unlike in the 2017/2018 contracts where 18 Nigerian companies made the list.Also, unlike the 2017/2018 contracts where all the contracts were for 32,000 barrels per day (bpd) except for Duke Oil…

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US puts ‘trade war’ against China on hold, says Steven Mnuchin

US treasury secretary Steven Mnuchin’s remarks will be a relief to investors, who had feared the US and China were on the brink of an all-out trade conflict. Photo: Reuters Columbus/Washington: The Trump administration won’t impose tariffs on Chinese products for now, after the two nations made progress on trade issues during two days of talks, treasury secretary Steven Mnuchin said. “We’re putting the trade war on hold. So right now, we have agreed to put the tariffs on hold…

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Seoul Begins Process to Bring US Safeguards to WTO

South Korea has launched the process to file a complaint with the World Trade Organization(WTO) against Washington’s safeguards on Korean washing machines and solar panels. The move was expected as the government expressed its intent to do so several times. The Ministry of Trade, Industry and Energy revealed Monday that it sent a letter to the U.S. calling for bilateral talks as the first step to settle the dispute on the issue. The ministry added that it also informed…

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Istanbul new airport to make Turkey regional logistics hub, DHL Express CEO says

Global Logistics giant DHL Express Turkey CEO Claus Lassen said that Istanbul new airport will make Turkey a regional logistics hub. In an exclusive interview with the Sabah newspaper, Lassen explained that DHL is preparing to establish a 42,000-square-meter operation center in the new airport. He highlighted that the positive trend in Turkey’s exports also boosted the company’s performance. Lassen stressed that DHL, operating under Deutsche Post, has been the market leader since the day it launched operations in the…

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China pledges to buy more US products, no trade war

A file photo of US President Donald Trump with his Chinese counterpart Xi Jinping. China has agreed to ‘meaningful increases in US agriculture and energy exports’, a joint statement released by the White House said. Photo: Reuters Washington/Beijing: China will “significantly increase purchases” of US goods, the White House said as Beijing’s special envoy at talks in Washington declared a trade war has been averted between the world’s two largest economies. A joint statement released by the White House following…

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Mnuchin: Trump could tolerate NAFTA vote slipping into 2019

“He has all his alternatives,” Treasury Secretary Steven Mnuchin said of President Donald Trump’s options if a new deal falls through. | Getty President Donald Trump is more interested in striking a good deal with Canada and Mexico than quickly finishing North American Free Trade Agreement talks to get a vote in Congress this year, Treasury Secretary Steven Mnuchin said Sunday. “The president is more determined to have a good deal than he’s worried about any deadline,” Mnuchin said in…

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Secret post-Brexit trade deal ‘could threaten Scotch whisky’

A post-Brexit trade deal with the US could signal bad news for the scotch whisky industry, with distillers warned the number of American imports could soar if trade barriers come down once the UK exits the EU. Trade groups in the US want any deal signed between the two countries to scrap current EU guidelines centred on the ageing of whisky, which would allow American producers to promote their younger spirits as “whiskey”. Discussions over the current EU requirement that…

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Trade Horizons Roadshow rolls into Swindon next month to advise firms on all things Brexit

Swindon businesses are to be helped prepare for the challenges and opportunities that Brexit will bring when an Export for Growth roadshow arrives in the town next month. The day-long Trade Horizons event is one of four being staged across the South West by Business West – the region’s largest business advice group, which also runs and the Swindon & Wiltshire Initiative. The Swindon event takes place at the Steam Museum on June 268and will host five keynote speakers –…

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Radio Havana Cuba | Extensive presence of Chinese entrepreneurs at promotional event for upcoming industrial forum in Cuba

Extensive presence of Chinese entrepreneurs at promotional event for upcoming industrial forum in Cuba Beijing, May 19 (RHC)– A promotional event for this year’s edition of “Cubaindustria 2018” –the most important forum of the Cuban industrial sector– took place at the Cuban Embassy in the People’s Republic of China, sponsored by the Chinese Chamber of Commerce for the import and export of machinery and electronic equipment (CCCME) and the Chinese Council for the Promotion of International Trade (CCPIT). In his…

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US, China tentatively agree on ending American trade deficit: White House

United States and China officials have agreed this weekend to take steps to reduce the U.S. trade deficit, the White House said Saturday. The agreement between the world’s two biggest economies was made this week in Washington by high-level negotiators from both countries, including Treasury Secretary Steven Mnuchin. “There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the White House said, in what it described as a joint statement…

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China to Increase Purchase of US Goods to Support Employment in US – White House

Business 20:42 19.05.2018(updated 21:14 19.05.2018) Get short URL In order to encourage more US purchases, China will “advance relevant amendments to its laws and regulations,” including the patent law, the joint statement of the White House and China said. “There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China. To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services.…

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SA wine voted premier best buy at SIAL China international fair

South African made Totus limited release Pinotage wine was crowned the best-buy winner in the still red wines category at a competition during the 19th SIAL China International Trade Fair for Food which ended in Shanghai, China on Friday, the trade and industry department (dti) said. Trajan Wines, producers of Totus, was part of a 23-member business delegation taken by the dti to China through government’s incentive scheme to showcase local agro-processing products and services, the dti said in a…

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Listeriosis cases decline | South Africa Today

Listeriosis cases decline The National Institute for Communicable Diseases (NICD) says the number of cases of Listeriosis reported per week has decreased since the implicated products were recalled on 4 March 2018, with a total of 64 cases reported since 5 March. A report released by the NICD stated that 1 033 laboratory confirmed Listeriosis cases were reported from 1 January 2017 to 10 May 2018. Six additional cases were reported during the period 2 – 10 May 2018. “Since the…

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