Korean Air has announced a massive $36 billion deal to purchase 103 aircraft from Boeing, marking one of the largest commercial jet orders in recent years. The agreement, revealed Monday, includes a mix of 787 Dreamliners, 777 wide-body jets, and 737 MAX aircraft, and is seen as a key step in modernizing the airline’s fleet … Read more
A planned visit by US trade negotiators to New Delhi from August 25-29 has been cancelled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday, citing people familiar with the matter. The current round of negotiations for the proposed bilateral trade agreement is now likely … Read more
The trade relationship between Pakistan and the United States has demonstrated significant growth in the latest fiscal year, with the bilateral trade volume reaching $7.598 billion—marking a robust 16% increase compared to the previous year. Pakistan’s exports to the US rose by 10%, totaling $5.83 billion. Key export categories driving this growth included bed linen … Read more
On Thursday, Pakistan and the United States announced a highly anticipated trade agreement, reached just ahead of President Donald Trump’s August 1 deadline. The agreement comes in time to avoid the imposition of higher tariffs by Washington, which were set to take effect on a reciprocal basis against various countries starting Friday (tomorrow). Pakistan Stock … Read more
TURNBERRY, Britain: The meeting will take place at US president’s golf resort in Scotland on regards of Gaza crisis and also on trade talks. The talks will come a day after the US and the European Union reached a landmark deal to end a transatlantic standoff over tariffs and avert a full-blown trade war. It … Read more
New York: Crude oil prices declined today, retreating from recent two-week highs as market participants grapple with ongoing trade uncertainties and rising U.S. stockpiles. The market’s cautious tone reflects concerns over potential impacts on global demand and supply dynamics. Brent crude futures fell by 15 cents, or 0.2 percent, trading near $70 a barrel. The … Read more
Mexico’s Deputy Economy Minister Luz Maria de la Mora hopes for a “mutually satisfactory solution” to talks requested by the US and Canada over what they claim are Mexican energy-related breaches of a regional trade pact. If unresolved, the dispute could lead to punitive tariffs in the United States. Mexico will not use the energy … Read more
ISLAMABAD: A Pakistani delegation will leave for Kabul on Monday (today) to hold talks with Afghan officials on bilateral cooperation in trade, transit, transport, and border facilitation. The delegation will be led by Secretary Commerce Sualeh Ahmed Faruqui and will comprise senior officers from Ministry of Commerce, Federal Board of Revenue (FBR), National Logistics Cell … Read more
Hong Kong’s stock trade said on Tuesday. It had enrolled banks including HSBC (HSBA.L). Organizations like China’s Tencent (0700.HK) to assist. Hong Kong Exchanges and Clearing Ltd said in a proclamation that it was setting up the Hong Kong International Carbon Market Council. Overall endeavors to battle environmental change have brought forth willful carbon markets, … Read more
Argentine President Alberto Fernandez appoints new economy minister. Guzman was key ally of Fernandez de Kirchner’s center-left government. Tensions in ruling coalition over how to handle economic crises exacerbated by Russia’s invasion of Ukraine. Guzman had come under fire from wing of ruling coalition pushing for more state spending. Argentine President Alberto Fernandez named business … Read more
Saudi trade delegation will arrive in Pakistan The delegation will visit Islamabad, Lahore, Faisalabad and Karachi. It will comprise representatives of 30 Saudi companies. ISLAMABAD: A Saudi trade delegation will arrive in Pakistan on Monday (tomorrow) to explore investment opportunities related to the China-Pakistan Economic Corridor (CPEC) and other sectors. The delegation’s arrival is a … Read more
Russia overtook Saudi Arabia as India’s second-largest oil supplier in May. India got roughly 819,000 barrels per day (bpd) of oil from Russia, compared to 277,00 in April. Indian refineries were able to use Russian crude oil due to high freight costs. DELHI, NEW DELHI: According to trade sources, Russia overtook Saudi Arabia as India’s … Read more
He talks with the British ambassador to Germany about the possibility of a post-Brexit trade war. And he asks what EU leaders are planning for if the UK makes unilateral changes to the Northern Ireland deal. Lately, I have been hearing a great deal – both openly and secretly – from EU pioneers, and from … Read more
The White House urges Britain and the European Union to return to talks to resolve differences over the implementation of the Northern Ireland Protocol. The U.S. priority remains to protect the gains of the Belfast Good Friday agreement, a spokeswoman says. “No, I don’t believe it will be,” White House press secretary Karine Jean-Pierre says … Read more
The British High Commissioner said that Pakistan was a significant monetary and exchanging accomplice of UK. Pakistan’s products arrived at $2.1billion toward the finish of last financial year. The ambassador was addressing media at the birthday function of Queen Elizabeth-II here on Sunday. UK High Commissioner to Pakistan, Dr Christian Turner said that respective exchange … Read more
The US will launch a new trade deal in the Americas focused on “like-minded countries” with existing free trade accords. Washington will utilise the new Americas Partnership for Economic Prosperity Set new customs, digital trade, labour, environmental, and corporate accountability norms. According to a senior Biden administration official, the Biden administration will advance its competitive … Read more
Indonesia will cut its maximum export and levy rate for palm oil to encourage shipments. The move comes after a three-week ban on exports was lifted last month. Red tape has kept palm mills’ storage tanks full, keeping them from using the oil. Indonesia Trade Minister Muhammad Lutfi said on Tuesday the public authority would … Read more
Uzbekistan and Iran agreed earlier this year to enhance bilateral trade and announced preparations to negotiate a preferential trade pact. Cargo trucks travelling from Uzbekistan to Iran must travel in a column and will be escorted by Turkmen traffic police when traversing Turkmenistan’s territory. Turkmenistan has allowed transit cargo transportation from Uzbekistan to Iran since … Read more
The Gambia, a West African country, has inked multiple agreements with Equatorial Guinea to strengthen commercial and diplomatic ties. According to a statement published on Tuesday by the Gambia’s State House, the agreements were signed on Sunday by Adama Barrow, President of Gambia, who is attending the African Union Summit, and his host, Equatorial Guinean … Read more
China’s Ministry of Commerce (MOC) said on Thursday that the nation will make all measures to stabilise foreign trade companies’ industrial and supply chains. Logistics performance is progressively increasing across the country, and China will secure the seamless transit of foreign trade products across the country, according to MOC spokeswoman Gao Feng during a press … Read more
Boris Johnson, the British Prime Minister, congratulated Anthony Albanese on his election as Australia’s new leader on Saturday, promising to cooperate on trade, military connections, and climate change. “Our countries have a long history and a bright future together,” Johnson said in a message to the Labor party leader, according to Downing Street. Johnson shares … Read more
The US Commerce Department stated Saturday that the US and South Korea have agreed to collaborate more closely on critical trade and supply-chain concerns. Establishing a US-Korea Supply Chain and Commercial Dialogue, the statement said, would “foster increased collaboration and strengthen the international competitiveness of US and Korean industry.” The announcement, which offered little detail … Read more
The Chinese yuan is quickly depreciating as the world’s second-largest economy struggles under the weight of Covid regulations. Concerns over escalating lockdowns in key cities, as well as Beijing’s tight links with Moscow in the aftermath of Russia’s invasion of Ukraine, have driven investors out of China since the beginning of the year. The linkages … Read more
Saudi Arabia and the US are in talks to boost trade cooperation in the digital economy and innovation fields, Saudi Press Agency reported. The Minister of Communications and Information Technology Abdullah bin Amer Al-Sawaha met with US Deputy Secretary of Commerce Don Graves and briefed him regarding the steps taken by the Kingdom to support … Read more
Nepal has prohibited imported booze, playing cards, and nearly a dozen other “non-essential” items to solve the Himalayan country’s rising trade deficit and dwindling foreign currency reserves, according to officials. Falling remittances and tourism earnings, combined with a blowout budget deficit, have severely dented Nepal’s fiscal position during the Covid-19 pandemic. The central bank has … Read more
UK Prime Minister Boris Johnson is to tour India subsequent week to discuss exchange and safety with his counterpart Narendra Modi, who has taken a neutral stance on Russia’s warfare in Ukraine. “As we face threats to our peace and prosperity from autocratic states, it is vital that democracies and friends stick together,” Johnson said … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) in a meeting has suggested empowering the Small and Medium Development Authority (Smeda) to increase the efficiency of the bureaucracy, a statement said. Unisame President Zulfikar Thaver stressed on the fast implementation of the SME Policy 2021, saying that the Small and Medium Enterprises (SME) sector … Read more
CANBERRA – Australia on Wednesday reported more than 30,000 new coronavirus cases before international borders set to reopen to fully vaccinated tourists within weeks after almost two years. Nationally there were 70 deaths reported on Wednesday, including 24 in Queensland, 21 in Victoria, 20 in New South Wales, two in both Tasmania and South Australia, … Read more
