International Trade

China Shuts Down Domestic Ivory Trade In Effort To Fight Poaching

WASHINGTON — China, one of the world’s largest markets for elephant ivory, will close out 2017 by shutting down its domestic ivory trade in an effort to curb poaching and ensure a future for the imperiled species.  A ban on all ivory sales kicked in Sunday, a year after China announced a four-step plan to end its legal market.  The Convention on International Trade in Endangered Species of Wild Fauna and Flora, or CITES, an international treaty to prevent animal trafficking and…

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Pakistan awaits a political transition

As Pakistan ends a tumultuous year marked by mounting political uncertainty and the unravelling of an exaggerated economic success story, the coming year will hardly lift the prospects. Even before the July 2017 disqualification of former prime minister Nawaz Sharif under a Supreme Court order, 2018 was set to take the country through a period of uncertainty. With elections due by late summer, Pakistanis await the outcome of the country’s next political transition. Yet, Sharif who continues to lead the…

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A durian economy? Malaysia is banking on it

KUALA LUMPUR: Malaysian durian traders are stopping at nothing to get the King of Fruit across the globe. Durian SS2, one of the country’s largest traders, is setting their eyes at dominating Singapore before moving on to their most lucrative market – mainland China. The company is already exporting durian to Brunei, Hong Kong and Taiwan. For starters, the Petaling Jaya, Selangor-based business will launch a mobile application in Singapore and Malaysia in June 2018. “Durian lovers can easily download the mobile…

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NFU Scotland reveals plans to boost policy team

Farmers’ union NFU Scotland (NFUS) enjoyed a boost in turnover last year. Accounts filed for the organisation reveal a £131,181 increase in turnover to £2.851million for the year ended October 31, 2017. This is against pre-tax profits of £288,357 – down slightly on £289,265 the year before. Membership subscriptions income increased to £2.12million, from £2.07million, while union expenditure in the year was up 5% to £2.84million, from £2.7million previously. NFUS chief executive Scott Walker said the union’s “other income” had…

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How does North Korea do business under sanctions?

Image copyright Getty Images It might have been under sanctions for more than a decade, but sometimes North Korea appears to do business like any other country. Organisers of the Pyongyang Autumn International Trade Fair in September said more than 250 domestic and foreign companies exhibited goods in the North Korean capital. State media reported on a successful event that saw businesses from Syria, China, Cuba, Iran, Italy, Indonesia, Vietnam and Taiwan attend. The severe sanctions put many off. The…

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Trump says Russia probe will be fair, but timeline…

By Reuters Published: 23:43 EST, 28 December 2017 | Updated: 23:43 EST, 28 December 2017 WEST PALM BEACH, Fla, Dec 28 (Reuters) – President Donald Trump said on Thursday he believes he will be fairly treated in a special counsel investigation into Russian meddling in the U.S. presidential election, but said he did not know how long the probe would last. The federal investigation has hung over Trump’s White House since he took office almost a year ago, and some…

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South Carolina Rep. Ralph Norman warns commerce secretary tariffs on Canada would hurt U.S. newspapers | Palmetto Politics

Small American newspapers fretting about the possible impact of a trade dispute over Canadian paper are getting a helping hand from a South Carolina congressman. U.S. Rep. Ralph Norman, R-Rock Hill, sent a letter Thursday to Commerce Secretary Wilbur Ross warning that intervening in an anti-dumping dispute could lead to increased paper costs that would threaten newspapers around the country. At issue is a complaint from an American mill, the North Pacific Paper Co. (NORPAC), based in Washington state. The…

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Trump tariff decision looms large for solar firm

SolarWorld Americas Inc., one of two U.S. solar manufacturers asking President Donald Trump for tariffs on imported panels, says the move could revive a struggling industry. It may also boost the company’s value ahead of a potential sale. The manufacturer, owned by bankrupt German panel maker SolarWorld, has already invited more than a dozen suitors to submit nonbinding offers for the company. But final bids aren’t due until after Trump decides whether to levy tariffs, according to a spokesman for…

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Forest City completes conversion of ownership in 10 New York City specialty retail centers

CLEVELAND, Dec. 22, 2017 /PRNewswire/ — Forest City Realty Trust, Inc. (NYSE: FCEA) today announced the closing of the conversion of its common ownership interest to preferred interest in 10 specialty retail centers in the New York City metropolitan area.   The closing covers 10 of the 13 centers that are part of a joint venture between Forest City and Madison International Realty, LLC. Closings on the conversion of Forest City’s common interest in two other centers in the portfolio – Shops…

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Post-Brexit UK Must Not Become Go-To Arms Dealer For Repressive Regimes

Since the 2016 referendum, the British Government has stepped up its arms sales offensive. In the hunt for post-Brexit allies, the British Government has had dealings with Turkey, Saudi Arabia, Bahrain, Oman and Kuwait, and more. The Prime Minister has been leading the charge, with her International Trade Secretary following suit. The arms trade is exempted from agreements to limit exports subsidies, which means that governments are free to promote their arms exports in a variety of ways. While the…

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Unionists should become more Carsonite over Brexit

Many unionists are angry at Dublin playing hard-ball over Phase I of Brexit. But, far from ‘doing Sinn Féin’s work for them’, the Irish government’s approach has actually served to ensure that the best outcome for the UK as a whole – and the preservation of the Union – is a firm possibility. Carson’s statue in front of Stormont: his unionism was founded on his conviction of the strength of common interest shared by Britain and Ireland. Unionism needs a…

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Q4 Cost Report: Inflation Set to Slow After Lumber Price Spike | 2017-12-20

There was a lot of action this year in the normally slow-moving lumber-cost arena, with price-hikes strongly impacted by forces of nature and international litigation. Prices skyrocketed 13% in 2017, according to data from analytics firm IHS Markit.  “Prices reached unprecedented levels,” says the analytics company’s senior economist, Deni Koenhemsi, who cites fires in Canada and the successive U.S. hurricanes in August and September as factors in the 2017 surge. She also points to this year’s escalating trade war over…

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Japan’s inaction on illegal ivory exports threatens Chinese ban, report says | Environment

Japan’s failure to prevent illegal ivory exports could undermine China’s forthcoming ban on its domestic ivory trade, conservation groups have warned. Inaction by Japan’s government has allowed the smuggling of large quantities of undocumented ivory overseas, mainly to China, according to a report released in Tokyo on Wednesday by the wildlife trade monitoring network Traffic. The report, compiled with the support of the World Wildlife Fund, says 2.42 tonnes of ivory – including elephant tusks, antiques and jewellery – were…

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CDB Approves Funding to Support Climate-Smart Agriculture in Grenada – NOW Grenada

The Caribbean Development Bank (CDB) has approved a US$5 million loan to support climate-smart agriculture and enterprise business development in Grenada. The project will assist the Government of Grenada in its efforts to increase productivity and the contribution of the agricultural sector to economic growth, rural poverty reduction and environmental sustainability. The International Fund for Agricultural Development will provide additional financing. Male and female farmers and entrepreneurs in some of Grenada’s poorest rural communities will receive technical assistance and financial…

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Boeing-Bombardier spat puts US-Canadian business deals in spotlight | Business

Boeing-Bombardier spat puts US-Canadian business deals in spotlight WASHINGTON: Boeing Co and Bombardier Inc traded barbs on Monday over the U.S. planemaker´s claim that its Canadian rival benefited from billions of dollars in illegal government subsidies and dumped its newest jetliner in the United States at below cost. At a contentious hearing of the U.S. International Trade Commission (ITC), Boeing accused Bombardier of harming its ability to sell 737s in the U.S. market, in one of the final stages of…

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U.K.’s Next Brexit Agony: What Sort of Trade Deal?

Britain’s trade future could be dominated by “customs checks, different regulations, different standards and trade falling off a cliff,” said Anand Menon, a professor of European politics and foreign affairs at King’s College London, adding that economic arrangements would most likely descend into a “nightmare.” Even some who think a reasonable outcome is possible say a moment of truth is approaching. Britain will have to decide whether to sever many or most ties with the European Union — and face…

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