Author: Editorial Desk

Antaike, a Chinese state-backed research house, forecasts a rise in copper and gold prices, driven by robust Chinese demand and ongoing macroeconomic uncertainties. This outlook is supported by solid market fundamentals and strong liquidity, attracting more global financial investors. Copper prices are expected to continue their ascent, bolstered by a positive demand forecast from China and concerns over raw material shortages. These factors, combined with the shift towards green energy, have pushed copper prices to notable highs. The London Metal Exchange reported its three-month copper contract at a two-year peak of $9,843 per metric ton. Concurrently, the most-traded copper contract…

Chinese officials have forcefully rejected a recent American inquiry into their shipbuilding industry, characterizing this action as unwarranted and baseless. Initiated by the Office of the U.S. Trade Representative, the probe accuses China of deploying “unfair, non-market policies and practices.” The Ministry of Commerce of China has countered, arguing that the allegations lack substance and pointing to substantial American subsidies to its own industries, which reportedly run into the hundreds of billions of dollars. The Chinese government insists that its industrial achievements stem from technological innovation and legitimate competitive practices within the marketplace. The investigation, rooted in Section 301 of…

Escalating conflicts within the Middle East have prompted Indonesia to seek alternative sources for its crude oil and gas supplies. On Friday, Energy and Mineral Resources Minister Arifin Tasrif revealed plans to engage with potential suppliers from Africa and Latin America. Highlighting the geographical advantages of African nations such as Mozambique, Tasrif noted their shipping routes circumvent the conflict-ridden Middle East, presenting a strategic benefit in securing a more stable oil supply chain for Indonesia. Attention also turns toward Latin America as a promising region for diversifying energy procurement. While Venezuela remains under international sanctions, prospects with emerging oil-exporting countries…

United Arab Emirates and Costa Rica reshaped economic relationship recently in San Jose. Rodrigo Chaves Robles, President of Costa Rica, warmly received Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, along with a distinguished Emirati delegation. The centerpiece of this visit was the signing of the Comprehensive Economic Partnership Agreement (CEPA), designed to amplify bilateral trade and investment through tariff eliminations, trade barrier reductions, and enhanced exchange of goods, capital, and ideas. Both nations highlighted the potential of this agreement to catalyze private sector cooperation across burgeoning sectors like renewable energy, tourism, food security, ICT, and…

Bangladesh’s cotton imports for the marketing year (MY) 2024-25 are projected to reach 80 lakh bales, marking a 6.7 percent increase from the prior year, as per the US Department of Agriculture (USDA). This uptick is fueled by robust global demand for garments, positioning Bangladesh as a pivotal player in the international textile arena. Detailed within the USDA’s comprehensive analysis on cotton dynamics, this import boost aligns with enhanced utilization at local spinning mills due to a downturn in yarn and fabric imports. The shift towards greater raw cotton use reflects an evolving strategy in the nation’s textile sector aimed…

South Korea, aiming to ascend to the upper position of global defense exporters, announced a comprehensive plan to insure domestic defense companies’ exports, exceeding 7 trillion won ($5 billion) this year. This initiative, detailed by the Ministry of Trade, Industry and Energy (MOTIE) on Wednesday, seeks to position South Korea among the world’s top four defense system exporters. The ministry’s statement elaborates on the scope of this support, specifically to ensure timely fulfillment of defense contracts from nations such as Poland. “To ensure (Korean) companies fulfill the defense orders received from Poland and other countries without delay, (the government) will…

The White House has revealed plans to significantly raise tariffs on steel and aluminum imports from China to advance low-carbon manufacturing. This directive aligns with a broader agenda to foster cleaner production methods and mitigate global carbon emissions prevalent in heavy industries. President Joe Biden is slated to outline this strategy during an appearance at the U.S. Steelworkers headquarters in Pittsburgh this Wednesday. Originating from an extensive review by the U.S. Trade Representative (USTR), this policy seeks to bolster American steel and aluminum sectors while propelling environmental sustainability initiatives. White House economic adviser Lael Brainard emphasized the threat of China’s…

Dubai: The first-ever Global AI and Blockchain Show concluded in Dubai on April 17th, despite heavy rain that forced cancellations of other events. Thousands of attendees gathered at the Grand Hyatt for the two-day conference. VAP Group, the show organizer, also announced the launch of two new digital media platforms: Times of AI and Times of Blockchain. These platforms aim further to propel advancements in artificial intelligence and blockchain technology. Latest Advancements The Global AI Show brought together experts in artificial intelligence and machine learning. Attendees learned about the potential impact of AI on healthcare, finance, retail, and even oil…

The United States is gearing up for a strategic incursion into India’s burgeoning agribusiness sector. Under the leadership of Alexis Taylor, Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs, a meticulously planned trade mission is set to unfold in Delhi from April 22 to 25. This venture underscores the burgeoning significance of bilateral trade relations and the mutual commitment to explore substantial investment opportunities in one of the globe’s most rapidly expanding markets. India presents a lucrative arena for U.S. agricultural technologies and products, given its vast agricultural heritage coupled with a rapidly expanding middle class. With a…

Today, 17 April, marks the establishment of the Critical Imports Council by the UK government, aimed at securing continuous access to crucial imports like medicines and smartphone chips. This council comprises 23 leaders from industry, academia, and government sectors, tasked with enhancing the resilience of supply chains essential to the nation’s prosperity, security, and fundamental services. This initiative expands upon the government’s pioneering Critical Imports and Supply Chains Strategy introduced in January. The council’s creation facilitates a collaborative approach between the private sector and government officials, embodying the strategy’s 18 actionable points. Recent global disturbances, including the COVID-19 pandemic, geopolitical…