Subscribe to Updates
Get the latest news from Trade World News.
Author: Central Bureau
Our skilled reporter from the Trade World News team crafted the article you just read with care. They spent time meticulously gathering, compiling, and fact-checking all the details to bring you the best possible information. If you have any questions or concerns about the news/article, please feel free to get in touch with us via WhatsApp at +971 5060 12456 or send us a kind email at Mail (at) Trade World News (dot) com. Disclaimer: In line with our editorial guidelines, Trade World News strives for unbiased, transparent reporting. However, we recommend that readers independently verify facts and consult a professional before making any decisions based on this content.
Amid rising interest rates from the United States Federal Reserve and the consequential volatility of the US dollar (USD), China’s Yuan or renminbi (RMB) is gaining more global traction. This trend is punctuated by recent critical events, most notably Argentina’s debt repayment to the International Monetary Fund (IMF). Argentina’s decision to utilize RMB for its IMF obligations marks a pioneering instance of this kind, signifying a significant stride in the internationalization of China’s currency. On June 30, the Argentine Ministry of Economy announced that it had used Special Drawing Rights (SDRs) and RMB to repay a USD 2.7 billion debt…
The comprehensive global travel market study traces the potential growth trajectories and identifies emerging trends for the period of 2023 to 2029, basing its projections on a detailed analysis of the current growth rate and market size. The report meticulously segments the Travel and Tourism Market according to Travel Types (Leisure Spending and Business Spending); Duration of Travel; Types of Spending (Domestic and International); and Regional distribution (North America, Asia Pacific, Europe, Latin America, Middle East, and Africa). This strategic segmentation facilitates a clear understanding of the key factors driving the global market. Marketlook Consulting’s analysis of the top five…
As the chipmaking mineral exports war with the West intensifies, China has taken a decisive step by imposing export controls on gallium and germanium starting next month. This tighter regulation on these crucial minerals, fundamental to the semiconductor and electronics industries, exemplifies China’s commitment to safeguarding its national security and interests. A joint announcement by the Ministry of Commerce (MOFCOM) and the General Administration of Customs (GAC) detailed the decision, “To safeguard national security and interests, with the approval of the State Council, it has been decided to implement export controls on items related to gallium and germanium.” From August…
“The ‘China Lithium Mining Boom’ is shaping the global landscape as the world shifts toward green energy and electric vehicles (EVs). As the demand for lithium – a crucial battery component – is skyrocketing, the burgeoning lithium industry is grappling with environmental damage and unregulated mining. The ‘lithium rush’ in China has triggered government intervention to manage these associated challenges. Lithium Prices Skyrocket as Demand Surges Lithium, dubbed ‘white gold’, is indispensable in EV batteries. With no economically viable alternative, lithium prices have soared in tandem with the rapid EV industry expansion. In January 2021, battery-grade lithium carbonate cost between…
Asia’s financial marketplace stands on the cusp of a significant transformation as a $7.5 billion derivative trade departs Singapore to dock at India’s Gujarat International Finance Tec-City (GIFT City). The shift results from the impending activation of a cross-border trading link between the Singapore Exchange (SGX) and India’s NSE Nifty 50 Index, their nations’ premier bourses. Previously christened SGX Nifty under Singapore’s purview, the futures contract will don a fresh avatar as GIFT Nifty from July 3. Pending orders stand poised for rerouting to GIFT City, Gujarat’s rising star in the financial constellation. This strategic switch from SGX to the…
ICC’s Executive Board has welcomed five distinguished figures from various countries, continuing its mission to promote international trade and represent businesses worldwide. The new appointments made at the annual meeting of the ICC World Council on June 20, 2023 were confirmed yesterday through an official press release. The new members of the 27-seat Executive Board include Arancha Gonzalez from Spain, Patricia Nzolantima from the Republic Democratic of Congo, Rifat HisarcıklıoÄŸlu from Türkiye, Omolara Ololade Akanji from Nigeria, and Cameron McKenzie from Puerto Rico. Each of the leaders will serve a three-year term, effective from the date of the announcement. The…
A combination of unclear regulations and an increase in import duties is being pointed to as the cause of a marked decline in gold imports from the United Arab Emirates (UAE) to India. The past fiscal year, ending March 31, 2023, witnessed the import of only 52.81 tonnes of gold from the UAE – a significant drop of nearly 47% from the previous year’s figures, and a twenty-year record low. This drop comes despite the free-trade pact signed between the two nations, which offered a tariff rate quota (TRQ) on the first 120 tonnes of gold imports in its inaugural…
The U.S. Energy Information Administration (EIA) recently disclosed that 2022 was a milestone year for U.S – Mexico energy trade. The trade value skyrocketed to an unprecedented $81.9 billion in real prices, heralding a new era in the closely intertwined energy sectors of the two neighboring nations. Simultaneously, this surge underscores the escalating tension over Mexico’s energy policy decisions. EIA’s statistics painted a vivid picture of a significant surge in U.S. energy exports to Mexico, totaling $55.8 billion in 2022, an appreciable leap from $45.4 billion the previous year. The U.S., while continuing as a net importer of Mexican crude…
Facing a decline in commodity prices, the US Shale Industry and gas sector, once heralded for its robust production capabilities, is now slowing down. This deceleration could potentially stagnate production growth just as worldwide demand for these resources soars. Signs of this standstill are becoming increasingly clear. In its recent survey, the Federal Reserve Bank of Dallas recorded no growth in business activity for the second quarter across 150 oil and gas organizations in its jurisdiction. This zero-growth score is the lowest since the oil price crash of 2020, which was spurred by the COVID-19 pandemic and led to considerable…
An international coalition of the G20 Experts, presided over by India, is actively preparing for an initiative that seeks to significantly remodel the worldwide financial infrastructure. As the leading coordinator for the G20, Harsh Vardhan Shringla has unveiled plans for the G20 Expert Group to launch a highly anticipated two-phase report, due for release in June and October. The report aims to explore the complex issues encountered by Multilateral Development Banks (MDBs) and suggest innovative strategies to overcome these hurdles. The financial world eagerly anticipates the inaugural revelations of the report, scheduled for presentation at the 18th G20 Heads of…