Author: News Desk

Panama’s President, Jose Raul Mulino, declared that he has authorized the transfer of copper concentrate from First Quantum’s closed Cobre Panama mine. During his weekly press conference, President José Raúl Mulino stated that he had authorized the transfer of the wasted copper concentrate from the Cobre Panamá mine. He emphasized that Panama has made a significant financial investment in the material and expects reimbursement once it’s processed abroad. “I also authorized the start-up of the 300 MW thermoelectric plant so that it can be exported through the port and coal imported,” Mulino added. The Minera Panamá subsidiary of Canadian company…

The Dangote Refinery, Africa’s largest oil refinery, is increasing its crude oil imports from international suppliers to complement its domestic deliveries as it ramps up operations. The Dangote Refinery has a crucial role in Nigeria’s push for self-sufficiency in petroleum products and reducing reliance on imported fuel. As the facility nears full capacity, the refinery is now seeking crude oil imports to maintain production targets. According to Bloomberg, the refinery has obtained over three million barrels of crude from the United States from the beginning of the month. Additionally, it has secured Angola’s Pazflor grade and Algeria’s Saharan Blend through…

The Kenya Scrap Metal Council (SMC) has declared in a statement on Tuesday that the registered scrap metal dealers in Kenya are required to submit all applications to apply for import and export permits through the Trade Facilitation Platform (TFP) from March 15. The shift to online permit applications is anticipated to streamline operations within the scrap metal industry while also strengthening compliance and regulatory oversight. SMC stated that all applications must be processed through the Trade Facilitation Platform, an automated system designed to improve efficiency in the scrap metal sector. The Scrap Metal Council, in collaboration with the Kenya…

The Brazilian government has proposed to increase its sugar export quota to the United States as part of ongoing negotiations. The move has long been advocated by the country’s sugar industry, which is the largest producer and exporter of sugar. The proposal has gained significant attention in Brasília, where it is positioned as a potential bargaining tool. The move comes as a response to ongoing pressure from U.S. President Donald Trump, who has been pushing for a reduction in Brazil’s 18% tariff on American ethanol imports. Other proposals under review include expanding Brazil’s beef export quota and obtaining market access…

Japan’s Trade Minister, Yoji Muto, revealed that Japan will not be exempt from 25% U.S. tariffs on exports. Japan will face a 25% tariff on steel, aluminum, and auto exports starting Wednesday. President Trump indicated that the U.S. might implement a 25% tariff on imported foreign automobiles in early April. Japanese officials visiting Washington this week were unable to secure guarantees from the Trump administration that Japan would be exempt from extensive tariffs, some of which are set to take effect on Wednesday. Muto stressed that Japan, a key contributor to the U.S. economy through investments and job creation, should…

South Korea is set to finalize a deal to export K2 black panther tanks to Poland by next month to strengthen the defense cooperation between the two countries, as declared by government officials on Sunday. The second contract for exporting K2 tanks, valued at around 9 trillion won ($6.2 billion), includes 180 units, similar to the first agreement signed in August 2022. In July 2022, South Korea and Poland entered into an agreement whereby Korea agreed to sell K2 tanks, K9 self-propelled howitzers, FA-50 light attack aircraft, and Chunmoo multiple rocket launchers to Poland. In August 2022, Korea secured its…

Kenya has officially revised the customs valuation of Pakistan rice by 25%, slashing the official rate from $615 to $460 per metric ton. The move is anticipated to amplify Pakistan’s rice exports to Kenya. The revision enables Pakistani exporters to sell rice to Kenya at the updated price of $460 per metric ton, marking a significant reduction of $155 from the previous rate of $615 per metric ton. Recent shifts in global supply and demand dynamics have led to a decline in international rice prices. Consequently, the market price for Pakistani non-basmati rice has dropped to $400 per metric ton…

Ontario Premier of Canada Doug Ford is heading with his plan to impose a 25% tariff on electricity exports to the United States, despite Trump’s decision to suspend most tariffs on Mexico and Canada on Thursday. The proposed tariffs will take effect on Monday. “We’re going to put a 25% tariff on electricity coming from Ontario to Michigan, New York, and Minnesota,” Ford said to Fox Business Network. Authorities in the impacted states warn that this decision could increase expenses and jeopardize grid reliability for the 1.5 million consumers in Minnesota, Michigan, and New York who rely on electricity supplied…

U.S. Secretary of Energy Chris Wright has granted an extension for the liquefied natural gas (LNG) export permit for the Golden Pass LNG Terminal, located along the Gulf of Mexico off the Texas coast. According to the Department of Energy(DOE), the approval aligns with President Trump’s dedication to increasing oil and gas production throughout the United States while maintaining the nation’s status as a top global exporter of liquefied natural gas. The terminal, owned by QatarEnergy and ExxonMobil, is currently under construction and is expected to be commissioned later in 2025. Once operational, it will become the ninth large-scale export terminal…

The Philippines Department of Trade and Industry (DTI) has declared it will strengthen trade relations and investments with Paraguay after an official visit from Paraguay’s Vice Minister for Investments and Exports, Javier Vivero. The high-level talks focused on encouraging foreign investment and augmenting bilateral trade ties between the nations. According to the government agency, the discussions included participation from entities such as the Board of Investments (BOI), the Center for International Trade Expositions and Missions (CITEM), and the Department of Foreign Affairs (DFA). Representatives from the private sector, the Philippine Chamber of Commerce and Industry (PCCI), and the San Miguel…