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☆ China and Europe's EV fight just stepped up a notch
▼ + stars: | 2024-11-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

China said it plans to sue the European Union after the bloc cracked down on its EV giants. The EU imposed sweeping tariffs on Chinese EV companies, including BYD, last week. The measures have raised fears that China might retaliate by slapping its own tariffs on European automakers. The EU voted to impose sweeping tariffs on Chinese EV companies like BYD in October. Advertisement"With this in mind, the Commission takes note of the request for WTO consultations lodged by China.

Persons: —, Xpeng Organizations: European Union, EV, Service, World Trade Organisation, EU, WTO, Business, Commission, Volkswagen, BMW, Mercedes Locations: China, European, Europe, Hungary, Turkey

☆ Meghan visited Nigeria as a duchess and left an African princess
▼ + stars: | 2024-05-13 | by ( Stephanie Busari | ) edition.cnn.com time to read: +6 min

Lagos, Nigeria CNN —The Duke and Duchess of Sussex embarked on what was officially dubbed a 3-day private visit to Nigeria, yet it unfolded with all the grandeur and attention typically reserved for royal tours. The pair had been invited to the West African nation by the country’s highest-ranking military official, Christopher Musa. Meanwhile, for Prince Harry and Meghan, this marked their first major trip to Africa since relinquishing their official royal duties. Meghan, in particular, embraced exploring her Nigerian ancestry after discovering several years ago that she is 43% Nigerian through a genealogy test. As they bid farewell to Nigeria, Meghan declared: “I can’t wait to come back!”

Persons: Duke, Duchess of, Christopher Musa, Meghan, Harry, Duchess of Sussex, Britain's Prince Harry, Duke of Sussex, Kola Sulaimon, Prince Harry, aplomb, Ngozi, Mo Abudu, selfies, Obi, Onitsha, Igwe Nnaemeka Alfred Ugochukwu Achebe, Meghan “ Ada Mazi, Oba Abdulrasheed Adewale Akanbi, Princess Diana, Uba Sani, Sani, “, Princess Meghan, ” Harry, Boko Haram, Corporal Yusef, Polo Organizations: Nigeria CNN, Lightway Academy, Foundation, GEANCO Foundation, Nigerian Defence Headquarters, Nigeria Unconquered, Getty, World Trade, Invictus Games, Lagos Polo Club Locations: Lagos, Nigeria, Duchess of Sussex, Abuja, West, AFP, Texas, Africa, Nigerian, American, Kaduna

☆ International trade should be the solution to many global challenges, WTO's chief economist says
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational trade should be the solution to many global challenges, WTO's chief economist saysRalph Ossa, chief economist of the World Trade Organisation, discusses international trade and geopolitical tensions.

Persons: Ralph Ossa Organizations: International, World Trade Organisation

☆ China lifts tariffs on Australian wine, ends three-year freeze in trade
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +3 min

China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers. "We welcome this outcome, which comes at a critical time for the Australian wine industry," the Australian government said in a statement. "Since 2020, China's duties on Australian wine effectively made it unviable for Australian producers to export bottled wine to that market. When the tariffs on Australian wine were levied in 2021, Canberra urged the WTO to arbitrate in the dispute. "Today's announcement is a significant positive not only for Treasury Wine Estates, but also for the Australian wine industry and wine consumers in China," CEO Tim Ford said in a statement.

Persons: Australia's, Tim Ford Organizations: World Trade Organisation, WTO, Wine, Treasury Wine Estates Locations: Chirnside Park, Victoria, Australia, China, Canberra, Beijing

☆ Australia hopes for China wine breakthrough as deadline nears
▼ + stars: | 2023-10-17 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

[1/2] Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. Australia lodged a complaint over China's tariffs on its wine at the WTO in 2021. Until the tariffs, China was Australia's top wine export market, peaking at A$1.2 billion ($770 million) for the 12 months to January 2020. Officials are unable to comment publicly on a WTO report prior to publication. Australia wanted to take the faster path of negotiating an outcome with China on wine, as it did in the barley dispute.

Persons: Florence, Anthony Albanese, Albanese, Don Farrell, Farrell, Kirsty Needham, Gerry Doyle, Barbara Lewis Organizations: REUTERS, Rights, Canberra, World Trade Organization, Australian, WTO, Trade, China Business Council, Reuters, Thomson Locations: Beijing, China, Australia, Canberra

☆ Taiwan urges progress on EU investment deal as bloc courts chip firms
▼ + stars: | 2023-10-12 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

Taiwan National Development Council Minister Kung Ming-hsin poses during an interview with Reuters in Taipei, Taiwan, April 23, 2021. Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies. The EU identified Taiwan as a candidate for a BIA in 2015, but no talks have taken place on the issue. "On the basis of this mutual trust... can you tell EU headquarters, on the BIA, can it start, effectively moving it forward?" A Taiwanese government official said last month that Taiwan is seeking other trade agreements with the EU given the BIA is a "long shot".

Persons: Taiwan National Development Council Minister Kung Ming, hsin, Ben Blanchard, Development Council Minister Kung Ming, Tsai Ing, Tsai, John Stonestreet Organizations: Taiwan National Development Council Minister, Reuters, REUTERS, Rights, European Union, BIA, European, EU, Development Council Minister, Trade Organisation, Taiwan Semiconductor Manufacturing Corp, chipmaker, Thomson Locations: Taiwan, Taipei, Rights TAIPEI, EU, Europe, Asia, China, Beijing, Germany

☆ Ukraine's Zelenskiy Welcomes EU Lifting Grain Export Ban, Warns Neighbours
▼ + stars: | 2023-09-15 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Ukrainian President Volodymyr Zelenskiy welcomed the EU's decision not to further extend the ban on Kyiv's grain exports, but said his government would react "in civilised fashion" if EU member states broke EU rules. "This is an example of true unity and trust between Ukraine and the EU," Zelenskiy wrote on the Telegram messaging app. But immediately after the EU ruling was announced, Poland, Slovakia and Hungary said they would implement their own restrictions on Ukrainian grain imports. Ukrainian Prime Minister Denys Shmyhal also welcomed the EU move as "legal and fair" and bound to help uphold world food security. "We appeal to individual EU member-states to refrain from unlawful, unilateral restrictions on Ukrainian agricultural goods, he wrote on Telegram.

Persons: Volodymyr Zelenskiy, Zelenskiy, Denys Shmyhal, Shmyhal, Yuliia Dysa, Ron Popeski, Jonathan Oatis, Sandra Maler Organizations: Reuters, EU, World Trade Organisation Locations: Ukraine, Europe, Poland, Slovakia, Hungary, Russia

☆ Ukraine's Zelenskiy welcomes EU lifting grain export ban, warns neighbours
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Ukrainian President Volodymyr Zelenskiy walks following a bilateral meeting with EU leaders during the European leaders summit, in Brussels, Belgium February 9, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsSept 15 (Reuters) - Ukrainian President Volodymyr Zelenskiy welcomed the EU's decision not to further extend the ban on Kyiv's grain exports, but said his government would react "in civilised fashion" if EU member states broke EU rules. "This is an example of true unity and trust between Ukraine and the EU," Zelenskiy wrote on the Telegram messaging app. But immediately after the EU ruling was announced, Poland, Slovakia and Hungary said they would implement their own restrictions on Ukrainian grain imports. "We appeal to individual EU member-states to refrain from unlawful, unilateral restrictions on Ukrainian agricultural goods, he wrote on Telegram.

Persons: Volodymyr Zelenskiy, Yves Herman, Zelenskiy, Denys Shmyhal, Shmyhal, Yuliia Dysa, Ron Popeski, Jonathan Oatis, Sandra Maler Organizations: EU, REUTERS, World Trade Organisation, Thomson Locations: Brussels, Belgium, Ukraine, Europe, Poland, Slovakia, Hungary, Russia

☆ Factbox: Who is attending the G20 summit in New Delhi?
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

People stand infront of Nataraja, a statue of Hindu lord Shiva as the cosmic dancer, installed next to 'Bharat Mandapam', the main venue of the G20 Summit, in New Delhi, India, September 7, 2023. REUTERS/Altaf Hussain Acquire Licensing RightsNEW DELHI, Sept 8 (Reuters) - Leaders from the Group of 20 (G20) major economies kick off an annual summit meeting on Saturday to coordinate policy on food security, debt problems of vulnerable countries and climate action. Here is a list of those attending and some key leaders who are skipping the meeting in the Indian capital, New Delhi. G20 LEADERS:ARGENTINA'S PRESIDENT ALBERTO FERNANDEZ AUSTRALIAN PRIME MINISTER ANTHONY ALBANESE BRAZIL'S PRESIDENT LUIZ INACIO LULA DA SILVABRITISH PRIME MINISTER RISHI SUNAK CANADIAN PRIME MINISTER JUSTIN TRUDEAU FRENCH PRESIDENT EMMANUEL MACRON GERMAN CHANCELLOR OLAF SCHOLZINDIAN PRIME MINISTER NARENDRA MODI INDONESIAN PRESIDENT JOKO WIDODOITALIAN PRIME MINISTER GIORGIA MELONIJAPANESE PRIME MINISTER FUMIO KISHIDA SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMANSOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSA SOUTH KOREAN PRESIDENT YOON SUK-YEOLTURKISH PRESIDENT TAYYIP ERDOGAN U.S. PRESIDENT JOE BIDENEUROPEAN UNION: PRESIDENT OF THE EUROPEAN COMMISSION URSULA VON DER LEYEN AND PRESIDENT OF THE EUROPEAN COUNCIL, CHARLES MICHELSPECIAL INVITEES:BANGLADESH PRIME MINISTER SHEIKH HASINAEGYPT PRESIDENT ABDEL FATTAH AL-SISIMAURITUIUS PRIME MINISTER PRAVIND KUMAR JUGNAUTHNETHERLANDS PRIME MINISTER MARK RUTTE NIGERIA'S PRESIDENT BOLA TINUBU OMAN'S SULTAN HAITHAM BIN TARIK AL-SAID SINGAPORE PRIME MINISTER LEE HSIEN LOONG UAE PRESIDENT SHEIKH MOHAMMED BIN ZAYEDOTHERS ATTENDINGU.S. Treasury Secretary Janet YellenThe heads of the United Nations, the International Monetary Fund, the World Bank, the World Health Organisation, the World Trade Organisation, the International Labour Organisation, the Financial Stability Board and the Organisation for Economic Cooperation and Development. NOTABLE MISSING GUESTSCHINESE PRESIDENT XI JINPING (represented by Prime Minister Li Qiang)MEXICAN PRESIDENT ANDRES MANUEL LOPEZ OBRADORRUSSIAN PRESIDENT VLADIMIR PUTIN (represented by Foreign Minister Sergei Lavrov)Sources: Reuters, officials, state media and domestic mediaCompiled by Aftab Ahmed and Shivangi Acharya; Editing by Sanjeev Miglani and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Shiva, Bharat Mandapam, Altaf Hussain, ALBERTO FERNANDEZ, ANTHONY ALBANESE, LUIZ INACIO LULA DA SILVA, JUSTIN TRUDEAU, EMMANUEL MACRON, OLAF SCHOLZ INDIAN, NARENDRA MODI, JOKO, GIORGIA, FUMIO KISHIDA, FUMIO KISHIDA SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMAN, CYRIL RAMAPHOSA, YOON SUK, TAYYIP ERDOGAN, JOE BIDEN, URSULA VON DER, CHARLES MICHEL SPECIAL, SHEIKH HASINA, ABDEL FATTAH, PRAVIND KUMAR, MARK RUTTE, BOLA TINUBU, HAITHAM BIN TARIK, LEE HSIEN LOONG, SHEIKH MOHAMMED BIN ZAYED, Janet Yellen, XI JINPING, Li Qiang, ANDRES MANUEL LOPEZ, VLADIMIR PUTIN, Sergei Lavrov, Aftab Ahmed, Shivangi, Sanjeev Miglani, Raju Gopalakrishnan Organizations: REUTERS, LUIZ INACIO LULA DA SILVA BRITISH, FUMIO KISHIDA SAUDI ARABIA'S CROWN, CYRIL RAMAPHOSA SOUTH, TAYYIP ERDOGAN U.S, OF, EUROPEAN, CHARLES MICHEL SPECIAL INVITEES, ABDEL FATTAH AL, Treasury, United Nations, International Monetary Fund, World Bank, World Health Organisation, World Trade Organisation, International Labour Organisation, Organisation for Economic Cooperation, Development, Foreign, Thomson Locations: New Delhi, India, DELHI, BANGLADESH, SHEIKH HASINA EGYPT, NETHERLANDS, SINGAPORE, LEE HSIEN LOONG UAE, MEXICAN, RUSSIAN

☆ Chipmaker Taiwan seeks other EU trade deals given investment agreement 'a long shot'
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Taiwan has repeatedly called for progress on a Bilateral Investment Agreement (BIA) with the EU. The EU included Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, but has not held talks with Taiwan on the issue since. "In that regard of course we have long been promoting a bilateral investment agreement between the EU and Taiwan. However, we know that's a long shot," said Chen, who visited the European Commission in June. Taiwan Semiconductor Manufacturing Corp (2330.TW), the world's largest contract chipmaker, announced last month a 3.5 billion euro ($3.75 billion) investment in Germany for the company's first factory in Europe.

Persons: Chen Chern, chyi, Chen, Filip Grzegorzewski, Tsai Ing, Ben Blanchard, Gerry Doyle Organizations: European Union, EU, European, European Commission, Taiwan Semiconductor Manufacturing Corp, chipmaker, BIA, Trade Organisation, Thomson Locations: TAIPEI, Taiwan, Europe, Asia, EU, Germany

A G20 logo is pictured in front of the main venue of the summit in New Delhi, India, August 24, 2023. The heads of the United Nations, International Monetary Fund, World Bank, World Trade Organisation and World Health Organisation will also be present. DEFENCE IN THE SKIESThe city will be guarded by nearly 130,000 security personnel, including the 80,000-strong Delhi Police, officials said. Modi inaugurated a $300 million venue in the capital in July to host the summit meeting - a conch shell-shaped building that can seat more than 3,000. The government has also leased 20 bullet-proof limousines at a cost of 180 million Indian rupees ($2.18 million) for ferrying leaders.

Persons: Adnan Abidi, Narendra Modi, Joe Biden, Rishi Sunak, Saudi Arabia's Mohammed Bin Salman, Xi Jinping, Vladimir Putin, Sergei Lavrov, Dependra Pathak, Pathak, Ranvir Singh, Biden, Modi, Rupam Jain, Raju Gopalakrishnan Organizations: REUTERS, NEW, India, British, Foreign, United Nations, International Monetary Fund, World Bank, World Trade Organisation, World Health, Delhi Police, Border Security Force, Indian Air Force, Reuters, Thomson Locations: New Delhi, India, Delhi, NEW DELHI, U.S, Saudi, Beijing, Japan, Australia, France, Germany, Ukraine, Pragati, Gurugram, New, Arunachal Pradesh, Srinagar, Kashmir

☆ U.S. trade chief flags concerns over India's license mandate for laptop, tablet imports
▼ + stars: | 2023-08-27 | by ( Shivangi Acharya | ) www.reuters.com time to read: +1 min

U.S. Trade Representative Katherine Tai addresses the media during the Indo-Pacific Economic Framework meeting in Detroit, Michigan U.S. May 27, 2023. Tai's intervention comes amid worries the licensing regime could impact shipments from the likes of Apple (AAPL.O) and Dell (DELL.N) and force firms to boost local manufacturing. Tai was in India to join the G20 trade ministers' meeting last week in the western state of Rajasthan. India's new licensing regime, which is due to come into effect on November 1, aims to "ensure trusted hardware and systems" enter the nation. It also seeks to reduce dependence on imports, boost local manufacturing, and in part address the country's trade imbalance with China, according to an Indian government official.

Persons: Katherine Tai, Rebecca Cook, Tai, Piyush Goyal, Shivangi Acharya, Sharon Singleton Organizations: Trade, Detroit , Michigan U.S, REUTERS, DELHI, Apple, Dell, India's Trade, World Trade Organisation, Thomson Locations: Detroit , Michigan, India, Rajasthan, China, U.S, New Delhi

☆ Taiwan pitches deeper Europe engagement after TSMC Germany investment
▼ + stars: | 2023-08-09 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

TAIPEI, Aug 9 (Reuters) - Taiwan chipmaker TSMC's (2330.TW) 3.5 billion euros ($3.83 billion) investment in Germany will drive deeper engagement between the island and Europe, Taiwan's economy minister said on Wednesday, pitching the political benefits of the deal. "TSMC's investment in Europe will help bring even closer cooperation between Taiwan and the EU," Taiwan Economy Minister Wang Mei-hua told reporters in Taipei, when asked if signing the BIA would get more Taiwanese chipmakers to the bloc. Taiwan has repeatedly called for progress on a BIA with the European Union. The EU included Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, but it has not held talks with Taiwan on the issue since. The TSMC investment in Germany will need approval by Taiwan's economy ministry, and Wang said they will also consider the company's "vigorous" investments at home when weighing the German plans.

Persons: Wang Mei, Wang, TSMC, Ben Blanchard, Jeanny Kao, Stephen Coates Organizations: European Union, BIA, Washington, EU, Trade Organisation, Reuters, Thomson Locations: TAIPEI, Taiwan, Germany, Europe, Beijing, Taipei, United States, Japan

☆ Australia urges China to remove all trade restrictions after barley tariffs lifted
▼ + stars: | 2023-08-07 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Don Farrell Australian trade minister"We always saw the barley application and the suspension of the barley application before the [World Trade Organisation] as a template for dealing with the wine issue," he said. "And of course, we're extremely confident that the 220% tariffs that were applied to Australian wine will be removed." Thawing tensionsIn April, Australia agreed to "temporarily suspend" its World Trade Organization complaint against China for its 2020 decision to impose 80.5% duties on Australian barley trade that was once worth about 1.5 billion Australian dollars ($988.1 million). Vcg | Visual China Group | Getty ImagesOn Monday, Farrell said a "range of factors" were at play, with Chinese beer consumers and barley importers "very strongly in favor" of reintroducing Australian barley. Since then, Australia's foreign minister Penny Wong and trade minister Farrell have visited Beijing and have had direct meetings with their direct counterparts.

Persons: Don Farrell, Farrell, Xi Jinping, Anthony Albanese, Penny Wong Organizations: World Trade, World Trade Organization, Chinese Commerce Ministry, Nantong, Trade Zone, Visual China, Australian Locations: Australia, China, Beijing, Nantong, Jiangsu Province, Bali

☆ Canada releases framework to phase out inefficient fossil fuel subsidies
▼ + stars: | 2023-07-24 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

July 24 (Reuters) - Canada on Monday released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalise and phase out government support for the sector. Eliminating fossil fuel subsidies is part of a deal signed between Prime Minister Justin Trudeau's minority Liberal and the New Democratic Party (NDP), formalising NDP support. Climate campaigners Environmental Defence also criticised the framework for not applying to public financing of fossil fuel projects through government-owned crown corporations, such the loan guarantees for the C$30.9 billion Trans Mountain pipeline expansion project. Ottawa plans to release a framework to phase out public financing of fossil fuel projects within the next year. "The Government of Canada must quickly take the final step and end all fossil financing – without any loopholes for fossil gas, fossil hydrogen or CCS," Environmental Defence program manager Julia Levin said in a statement.

Persons: Steven Guilbeault, Justin Trudeau's, Laurel Collins, Collins, Laura Cameron, Julia Levin, Nia Williams, Jonathan Oatis, Grant McCool Organizations: Monday, Liberal, New Democratic Party, NDP, International Institute of Sustainable Development, Trade, Pathways Alliance, CCS, Environmental Defence, Thomson Locations: Canada, Ottawa, Alberta, British Columbia

REUTERS/Mukesh Gupta/File PhotoNEW DELHI, July 14 (Reuters) - India will not impose countervailing duty (CVD) on select steel products imported from China despite a recommendation from trade officials and lobbying from local steel manufacturers, a government source told Reuters. The decision by the finance ministry aims to protect steel consuming firms from higher prices even though it could hurt local steel manufacturers, the source said. In April DGTR - which is India's trade ministry's arm that investigates unfair trade practices - recommended CVD on some stainless steel flat products. The finance ministry has rejected the recommendation despite steel purchases from China touching a six-year high in April-May period, with imports rising 62%. India's finance and trade ministry did not immediately reply to emails sent after office hours.

Persons: Mukesh Gupta, Nikunj Ohri, Conor Humphries Organizations: REUTERS, Trade, Reuters, Trade Organisation, Jindal Stainless Ltd, Steel Authority of India, Thomson Locations: Jammu, DELHI, India, China

☆ Explainer: What is the 'Bridgetown Initiative' asking for at Paris summit?
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +4 min

[1/2] An aerial view shows the Seine River and the skyline of La Defense financial and business district near Paris, France, June 19, 2023. REUTERS/Stephanie LecocqPARIS, June 22 (Reuters) - President Macron hosts a summit in Paris starting Thursday to discuss reform of the world's multilateral finance institutions in the face of climate change and other development challenges. A key topic of discussion will be suggestions from a group of developing countries, led by Barbados, dubbed the 'Bridgetown Initiative'. They should simplify and harmonise the way countries can apply to access loans across the world. The international financial institutions should also finance development plans that help protect shared resources.

Persons: Stephanie Lecocq PARIS, Macron, Simon Jessop, Leigh Thomas, Christina Fincher Organizations: La Defense, REUTERS, Bridgetown Initiative, Monetary Fund, Rapid, IMF, World Bank, African Development Bank, Development Association, Growth Trust, Resilience, Sustainability Trust, World Trade Organisation, International Financial, Thomson Locations: Paris, France, Barbados, Bridgetown

☆ Explainer: What is the 'Bridgetown Initiative' asking for at Paris financial summit?
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +5 min

[1/2] An aerial view shows the Seine River and the skyline of La Defense financial and business district near Paris, France, June 19, 2023. REUTERS/Stephanie LecocqPARIS, June 20 (Reuters) - President Macron hosts a summit in Paris this week to discuss reform of the world's multilateral finance institutions in the face of climate change and other development challenges. A key topic of discussion will be suggestions from a group of developing countries, led by Barbados, dubbed the 'Bridgetown Initiative'. Simplify and harmonise the way countries can apply to access loans across the world, and provide more support in the process. The international financial institutions should also finance development plans that help protect shared resources.

Persons: Stephanie Lecocq PARIS, Macron, Simon Jessop, Leigh Thomas, Christina Fincher Organizations: La Defense, REUTERS, Bridgetown Initiative, Monetary, Rapid, IMF, World Bank, African Development Bank, Development Association, Growth Trust, Resilience, Sustainability Trust, World Trade Organisation, International Financial, Thomson Locations: Paris, France, Barbados, Bridgetown

☆ France in 'very close discussions' with S&P ahead of rating update
▼ + stars: | 2023-05-28 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: French Finance Minister Bruno Le Maire speaks at a joint news conference after his meeting with World Trade Organisation (WTO) Director-General Ngozi Okonjo-Iweala at WTO headquarters in Geneva, Switzerland, April 1, 2021. REUTERS/Denis Balibouse/Pool//File PhotoPARIS (Reuters) - French Economy Minister Bruno Le Maire is in “very close discussions” with credit ratings agency Standard and Poor’s, which put France on notice in January for a possible downgrade, Prime Minister Elisabeth Borne said on Sunday. “There are very close discussions between Standard and Poor’s and Bruno Le Maire,” Borne told Radio J. “I think there were detailed explanations from Bruno Le Maire to Standard and Poor’s on everything we’re doing to control our public finances and I think that we act in this direction,” she said. Le Maire explained France’s reforms and its objective of cutting the country’s budget deficit to 2.7% of gross domestic product by 2027, she said.

☆ Factbox: What is embattled British business group the CBI?
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +5 min

Below is some information about the CBI and its role:WHAT IS THE CBI? Founded in 1965, the CBI is Britain's top business lobby group. A not-for-profit organisation, the CBI says it represents 190,000 businesses employing nearly 7 million people, including many of Britain's biggest companies. In his speech, Sunak called the CBI "a valued institution in this country and a powerful voice for business". A spokesperson for NatWest said the bank had no confidence in the CBI's capacity to be a strong representative voice for British business at present.

But at the same time, EU countries have increased their overall purchases of Russian LNG, undermining the bloc's pledge to end its use of Russian fossil fuels by 2027. Russian LNG exports by region Russian LNG exports by regionEU analysis found Russian LNG imports increased to 22 billion cubic metres (bcm) last year, up from 16 bcm in 2021. Belgium and Spain nearly doubled their imports of Russian LNG in the 12 months since Russia invaded Ukraine, analysis by Kpler showed. The Netherlands has eliminated its Russian pipeline gas imports since the war and reduced, but not eliminated, Russian LNG imports. TO BAN OR NOT TO BANHalting Russian LNG imports would be double-edged, analysts say.

☆ Australian exporters rekindle China ties amid diplomatic thaw
▼ + stars: | 2023-02-27 | by ( Lewis Jackson | ) www.reuters.com time to read: +5 min

Australian business leaders are following the political signals. Fortescue Metals (FMG.AX) founder Andrew Forrest, BHP (BHP.AX) head Mike Henry and Tim Ford, chief executive of tariff-hit winemaker Treasury Wine Estate (TWE.AX), have scheduled visits to China in March. At least 15 vessels carrying Australian coal were bound for China last week as traders bet already-reduced trade barriers will fall further. "People are starting to get on the front foot," Grain Trade Australia Chief Executive Pat O'Shannassy told Reuters. A shipment of Australian coal diverted to Vietnam last week after waiting at a Chinese port for five days without unloading.

President Joko Widodo has pulled out all the stops to convince CEO Elon Musk to manufacture electric vehicles or batteries in the sprawling Southeast Asian archipelago. "The Indonesian government is building a whole value chain for servicing electric vehicle factories," said Victor Chin, principal consultant at metal consultancy firm CRU. Musk's goal is to sell 20 million electric vehicles in 2030, more than a 15-fold increase over the 1.3 million vehicles Tesla sold in 2022. Jokowi did not give a timeline for the exports growth but said Indonesia was aiming to establish an integrated supply chain for electric vehicle batteries by 2027. In other moves, Indonesia will also ban exports of copper ore and bauxite in June, both of which are used in electric vehicle production.

☆ Senior Australian official asks China to remove trade impediments
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Jan 20(Reuters) - Australia's Assistant Minister for Trade Tim Ayres called for the removal of China's "trade impediments" on Australian exports in a meeting with his Chinese counterpart on the sidelines of the World Economic Forum, his office said. China's Xinhua news agency earlier reported that Thursday's meeting between Australian and Chinese officials had agreed that trade ministers from the two nations will hold virtual discussions "in the near future." No date has been set for the video meeting between Chinese Commerce Minister Wang Wentao and his Australian counterpart, Don Farrell, it said. "Assistant Minister Ayres raised the importance of cooperation to deliver the outcomes of the World Trade Organization 12th Ministerial Conference, and the removal of current trade impediments affecting Australian exports to China in both countries' interests," a spokeswoman for Ayres said in a statement. Canberra has two complaints at the World Trade Organisation against China's tariffs on Australian wine and barley, and is watching to see if Beijing lifts unofficial trade blockages on other Australian exports.

☆ Explainer: Why Malaysia is considering a ban on palm oil exports to the European Union
▼ + stars: | 2023-01-13 | by ( Mei Mei Chu | ) www.reuters.com time to read: +3 min

It is not clear whether Malaysia is considering a direct ban on exports to the European Union or enacting tariffs. WHAT ABOUT MALAYSIAN PALM OIL EXPORTS TO EUROPE? Malaysian Palm Oil Board data indicates that exports to the 27-member bloc have been declining since 2015. WHERE ELSE CAN MALAYSIA PALM OIL EXPORTS GO? Several publicly-listed Malaysian palm oil companies, however, have established refineries in Europe and an export ban would disrupt their operations.

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