As trade tensions with China reach boiling point, EU officials are ramping up engagement with Beijing in search of an off-ramp. Quietly behind the scenes, though, Europe is preparing for a trade war. In Brussels, a steely determination has set in to ensure the bloc’s manufacturing heartlands are not deindustrialised by the “China Shock 2.0”. With some industries already haemorrhaging jobs, the EU’s resilience-building and de-risking plans are now laced with deterrents as Brussels looks to...
Facing Europe’s ever-widening trade deficit with Beijing, Berlin is increasingly singing the same tune as Paris. The two nations displayed a united front at this year’s Franco-German Ministerial Council, which will soon be put on paper in a joint road map due by September at the request of Germany. “Our work between Germany and France is indispensable at a time when Russia threatens our security, when the People’s Republic of China challenges our economy, and when the transatlantic partnership...
Principal Chief Commissioner of Income Tax said the region’s net collection reached ₹41,568 crore up to July 17; Andhra Pradesh recorded 17% growth at ₹6,607 crore
As China is ending tax exemptions that helped fuel the rise of its electric-vehicle (EV) and solar industries, analysts said it could add to the cost of producing an EV and put pressure on manufacturers, as Beijing steps up efforts to curb overcapacity and price wars. The levy could add about 1,000 yuan (US$147) to the cost of producing an EV, analysts estimated – a modest increase per car, but a fresh squeeze on carmakers’ already razor-thin margins. China will levy a consumption tax on...
European pilots have found “no major hardware risks” with the Chinese-made C919 passenger jet during a months-long flight testing process in China, which is now beginning to wrap up, according to two sources with knowledge of the matter. The news indicates that the C919 has taken a step closer to winning a crucial endorsement from European safety regulators, but the sources cautioned that the completion of in-flight testing did not mean that certification was imminent. The “test drive” by...
As Malaysia pushes to welcome 47 million international visitors under this year’s travel campaign, the country is setting its sights on bringing South Korean arrivals back above pre-pandemic levels by promoting authentic local experiences beyond its well-known beach resorts and city attractions. “South Korea is one of our priority markets,” Kamilia Hani Abdul Halim, director of Tourism Malaysia Seoul, said in an interview. Last year, about 558,000 South Koreans visited Malaysia, making it the...
The Chinese company that formerly owned British Steel demanded on Sunday compensation from the UK government for investment losses following the nationalisation of the manufacturer last week. The British government took operational control of the company last year after Jingye Group said it was considering closing the blast furnaces at its Scunthorpe plant in northern England, the last in the United Kingdom to make “virgin steel” from raw materials. Jingye Group said in a WeChat statement that...
The UK move to take over British Steel fuels a brewing dispute with China amid political leadership change in London.
Sales of intangible heritage products are on the rise, highlighted by the online frenzy sparked by Elon Musk’s six-year-old son Little X wearing a Chinese-style silk jacket and carrying a tiger-head bag in May, when they accompanied US President Donald Trump on a state visit to Beijing. The surge is part of a wider boom, with industry data showing intangible cultural heritage and traditional handicraft goods had reached an annual transaction value of 100 billion yuan (US$14.8 billion) across...
Hong Kong is seeking to promote itself as a city that visitors “feel” rather than merely see under a new global tourism campaign highlighting experiences ranging from mahjong games and tram rides to hidden beaches and Kai Tak Stadium. Tourism Board executive director Anthony Lau Chun-hon told the South China Morning Post on Sunday that the “Only in Hong Kong” campaign aimed to redefine how travellers experienced the city and distinguish it from other destinations. “Moving beyond a place to see,...
Russians have been hit by mobile internet shutdowns and more businesses are seeking to dodge tax after more than four years of war with Ukraine.
The 57th GST Council is likely to be convened in a few weeks
The deals include rebuilding the long-defunct Iraq-Syria crude oil pipeline, which could bypass the Strait of Hormuz.
Jingye seeks compensation after UK's move to fully nationalise loss-making British Steel, citing security risks.
As Norwegian World Cup footballer Erling Haaland’s herbal drink advertising blitz captivates millions, his home country has emerged as a popular destination for Chinese travellers. An increasing number of Chinese citizens have visited Norway over the past two years, with interest surging during this summer’s international football competition. The draw was largely Norway’s scenic allure, but in recent weeks Haaland’s social-media stagecraft had amplified the appeal, tourism professionals...
Not so long ago, the Philippines was bedevilled by warning signs to investors, from its corruption to its groaning infrastructure and a fuel crisis born of a war fought thousands of miles away. Those problems have not simply disappeared, but a flurry of business-friendly reforms – paired with ambitious plans to upgrade the nation’s railways, ports and power grid – now puts it in a stronger position to capture some of the billions of dollars seeking a home outside the region’s recent supply chain...
According to a statement issued by Office of Kerala Chief Minister V.D. Satheesan, commencement of EXIM operations will transform Vizhinjam from a transshipment port into a full-fledged international cargo gateway
Geography has handed the United Arab Emirates quite the quandary: its government wants to cut dependence on the Strait of Hormuz to “zero”, yet the ports that power its economy sit squarely inside the waterway it hopes to avoid. Jebel Ali and Khalifa ports collectively handle most of the UAE’s US$1 trillion in annual non-oil trade, much of which flows to and from Asia. Together, they form the single most vital link in a logistics corridor stretching from Singapore to Europe – a status not easily...
Across delivery, ride-hailing and home services, full-time gig workers earn, on average, up to 2.5 times the monthly net income of workers in comparable formal and informal occupations
US president has frequently pushed false claims blaming the mismanagement of rival politicians for large wildfires.
European policymakers have watched Chinese carmakers roll in like a slow but unstoppable tide over the past few years: affordable, polished and threatening one of the continent’s proudest industrial legacies. Many have warned about the dismantling of their automotive prides following the new China shock. A crown jewel of Europe’s industrial output, the automotive sector represents directly and indirectly a total of more than 13 million jobs in the EU. It was no accident that electric vehicles...
Canadian leader Mark Carney says both the US and Canada have an equal responsibility to fight climate change, which experts say are worsening wildfire conditions.
Across delivery, ride-hailing and home services, full-time gig workers earn, on average, up to 2.5 times the monthly net income of workers in comparable formal and informal occupations
Did the US just start a trade war with Brazil?
Procurement has gathered momentum with nearly 8.5 lakh kg being purchased every day, and farmers are currently receiving prices of up to ₹250 per kg, says Agriculture Minister Atchannaidu
In the latest move to bypass Western-dominated financial systems and step up the internationalisation of the yuan, China is linking its retail payment networks with the United Arab Emirates. Users will soon be able to use domestic mobile apps to scan QR codes and make payments in either country, under a recent agreement between state-owned Bank of China (BOC), UnionPay International, and the UAE central bank’s subsidiary Al Etihad Payments. “The partnership would help expand the scope of...
The UK government said taking the firm into public hands would safeguard "a vital national capability".
South Korean food exporters are no longer treating Vietnam as just another market for kimchi, instant noodles and premium fruit. As Southeast Asia emerges as one of South Korea’s most important trading regions, Seoul is positioning Vietnam as a logistics and distribution base for a wider push to turn the popularity of Korean culture into sustained demand for Korean food across the region. But analysts said the strategy would depend on more than Hallyu-driven curiosity, with exporters needing to...
The wealth gap is wider than it’s been in three decades.
Although retail sales in Hong Kong rose more than 10 per cent year on year in the first five months of 2026, a wave of shop closures continues, leaving tenants and landlords with vastly different assessments of the retail leasing market. Many tenants say that despite racking their brains for solutions, their businesses remain stagnant. They are losing money because of constant price cutting to attract customers, a situation they attribute to the broader economic climate. Many hope for rent...
Previously little-known in Europe, the Midea PortaSplit has become a household name this summer.
Beijing has condemned the latest efforts by US lawmakers to curb Chinese access to leading semiconductor chips and chipmaking equipment, warning that they would lead to “arbitrary disruption and damage” to global supply chains. The stark assessment followed reports on Tuesday that three major export control bills targeting China – the AI Overwatch Act, the Match Act and the Chip Security Act – are set to be folded into the National Defence Authorisation Act (NDAA) in the US Senate, the annual...
It is one of Tamil Nadu’s significant business-to-business industrial exhibitions
Describing Andhra Pradesh as a complete tourism destination, Kandula Durgesh invites investors to partner with the State
Beef, coffee, and rare-earth materials escaped US tariffs amid trade tensions with Brazil over alleged unfair practices.
Since being sworn in as US Federal Reserve chairman on May 22, Kevin Warsh has struck a distinctly hawkish tone. At his first press conference at the helm of the world’s most important central bank on June 17, Warsh made a solemn vow to curb inflation. He said members of the Fed’s interest rate-setting committee were “unambiguous and unanimous. This committee will deliver price stability”. Bond investors who questioned Warsh’s inflation-fighting credibility – given that he built his candidacy...
The Hong Kong Jockey Club has urged the city to position the Greater Bay Area as a leading equine hub under its first five-year plan, proposing the formation of a distinctive racing circuit for both mainland Chinese and international tourists. In a submission to the government on Thursday, the club said the equine industry had already been identified as a strategic economic driver under national planning frameworks. “Hong Kong therefore has an opportunity to play a leading role in helping to...
The State’s retail inflation rose to 4.9% in May 2026 against a national 3.9%, with personal care and miscellaneous services seeing the steepest rise; the government has placed inflation on its ‘Needs Attention’ watchlist
Hong Kong’s short-haul visitor arrivals plunged 15 per cent in June despite overall growth, as higher fuel costs linked to the Middle East conflict reduced flight capacity and weaker regional currencies dampened travel demand, the tourism board said. The Hong Kong Tourism Board said on Thursday the city received 3.72 million visitors last month, up 7 per cent from a year earlier, driven largely by a 10 per cent rise in mainland Chinese arrivals to 2.88 million. But the number of non-mainland...
China will adjust its export controls on helium in response to changes in domestic and global supply conditions, after temporarily suspending overseas shipments of the gas last week amid a tightening global supply situation. The Ministry of Commerce said the temporary export ban was in line with the country’s foreign trade laws and World Trade Organization rules. “China is a major importer of helium,” ministry spokesman He Yadong said, adding that the temporary ban was to “safeguard domestic...
Singapore consumers are expected to spend an additional S$1.05 billion (US$815 million) annually in Malaysia’s Johor state once a cross-border rail link connecting the two sides in minutes opens, according to a new study. The study, released on Thursday by the Singapore Business Federation (SBF), the Restaurant Association of Singapore (RAS) and the Singapore Retailers Association (SRA), comes amid concerns from local businesses about cash flowing out to the city state’s northern neighbour,...
For MSMEs, which number over 6.3 crore across India and contribute nearly 30% to the GDP, the effective use of FTAs can be truly transformational, said FKCCI President Uma Reddy.
The US will begin charging 25 per cent tariff on imports of certain goods from Brazil following an investigation alleging that the country engaged in unfair trade practices. The year-long inquiry “found a number of Brazil’s practices to be unreasonable and discriminatory, restricting the competitive position of American farmers, workers, innovators, and exporters,” the Office of the US Trade Representative said in a social media post late on Wednesday night. Imports of coffee, beef, and certain...
Africa’s exports to China have surged since Beijing expanded its zero-tariff policy across the continent in May, as customs data showed signs of emerging trade links in a range of new sectors alongside traditional categories such as critical minerals. China’s imports from Africa soared by 21.1 per cent and 40.2 per cent year on year in May and June, respectively – outpacing the overall growth in Chinese imports over the same period, customs data showed. The increase was partly driven by China’s...
From rare earth elements to commercial drones, Washington has become all too familiar with the strongest weapons in Beijing’s manufacturing arsenal – the materials and products where China holds a strategic advantage in production, extraction or any other link in the supply chain. After those near-monopolies provided Chinese policymakers considerable leverage in last year’s trade dispute, US think tanks are asking whether pharmaceuticals represent the next critical dependency. Their concern is...
In the first half of this year, leisure travel within China exploded. As the summer travel season builds towards the Mid-Autumn Festival and the “golden week” that follows National Day on October 1, domestic travel has emerged as one of China’s most important, if underappreciated, drivers of consumption and growth. During the extended Chinese New Year holiday, travel and consumer spending boomed. Domestic trips jumped to 596 million and spending surpassed 803 billion yuan (US$118.13 billion),...
Farmers behind the ‘Desh Bachao Morcha’ urge the Central government to ‘prioritise the interests of farmers, workers, small traders, small industries and India’s economic and food sovereignty, and refrain from implementing any agreement that goes against the interests of the people’
The previous YSRCP government has weakened the sector through its policy failures, he alleges, adding that the NDA dispensation has released ₹32 crore for Fisheries University at Narasapuram and strengthened the APSADA Act to improve governance and transparency
Agreements signed under the leadership of Commissioner of Andhra Pradesh Handlooms and Textiles, K. Rekha Rani, as part of the State’s efforts to attract investments into the textile sector
Union Home Minister Amit Shah said the treaty stands as a testament to the Centre's pro-people diplomacy
The policy will encourage new investments in the urea sector to set up gas-based urea manufacturing units in the country
The deal cuts tariffs on thousands of goods and widens access for services firms and professionals in both markets.
DCC came into effect on July 15, 2026 alongside the India-U.K. Comprehensive Economic and Trade Agreement (CETA)
The India-U.K. Comprehensive Economic and Trade Agreement (CETA), which came into effect on July 15, has been hailed by government officials in India and the U.K., and has been welcomed by Indian industry
Pharmaceuticals and Life Sciences, electronics and precision engineering, engineering goods and industrial machinery and chemicals and specialty chemicals are set to benefit most from the landmark agreement that came into force on July 15
Zero tariffs. Cheaper whisky and British cars. Major benefits for Indian workers in the U.K. The India-U.K. trade deal could reshape business on both sides, and here’s the complete picture
Weak demand domestically and the impact of the Iran war on oil prices overshadowed the country's strong exports.
A plan to make Nepal’s domestic flights cheaper for foreign visitors could end up making them more expensive for citizens, according to airline operators who warn against scrapping one of the country’s most contentious tourism pricing policies. Under Nepal’s two-tier airfare system, foreign passengers must pay in US dollars for domestic flights, with prices usually two to three times higher than for Nepalis and sometimes more, depending on the route and season. In April, Minister for Culture,...
The free trade agreement between the world's fifth and sixth largest economies has come into effect - can it deliver?
Inflation eased due to cheaper energy, but experts warn price increases may return after renewed US-Iran tensions.
US consumer inflation slowed more than expected in June as energy prices retreated, but the moderation was insufficient to convince financial markets to take an interest-rate increase from the Federal Reserve this year off the table against the backdrop of renewed conflict in the Middle East. The Consumer Price Index (CPI) from the Labour Department on Tuesday also showed underlying inflation subsiding last month amid declines in the costs of motor vehicle insurance, communication, apparel,...
How the late Father Emir transformed Qatar’s economy
The European Union is prepared to introduce emergency measures to combat China’s extraordinary export surge as new figures showed the trade gap had widened dramatically, its top trade enforcer said on Tuesday. Safeguard measures that permit tariffs and quotas to be enforced to combat sudden import surges may “become legitimate on a case-by-case basis”, Denis Redonnet told the European Parliament’s trade committee. Redonnet, the EU’s deputy director general for trade, added that the bloc had...
The U.S. is currently in the process of releasing its final decision on the tariffs it plans to levy on countries that it says have not done enough to stop the import of goods made using forced labour.
If the fighting in Yemen expands, and the Houthis try to block the Bab al-Mandeb, the world economy faces a new shock.
Net corporate tax collection rose 22% to ₹2.40 lakh crore, and mop-up from net non-corporate tax (NCT), which includes taxes paid by individuals, HUFs, and firms, grew about 12 per cent to over ₹3.84 lakh crore till July 13
Asia’s economies are once again staring down the barrel of the Strait of Hormuz as the latest breakdown of the US-Iran ceasefire and Washington’s decision to impose a blockade-cum-toll threaten to keep energy costs elevated and shipping flows under strain. But economists and shipping analysts say the region is better placed to absorb the blow this time round. Oil prices jumped to a one-month high of US$84.78 a barrel on Tuesday morning as renewed fighting between Iran and the US over control of...
With the addition of Unjha cumin and Unjha fennel, Gujarat has expanded its list of GI-tagged agricultural products, which already includes Gir Kesar mangoes, Bhalia wheat, Kachchhi Kharek and Amalsadi chikoo.
Great leadership doesn’t start with what you do but who you are. There are generally two leadership styles: loud and quiet. Loud leadership considers visibility for effectiveness and often focuses on showing dominance to drive results. Quiet leadership focuses on depth rather than volume. It is marked by clarity and consistency. If the West favours highly visible, charismatic leaders, in the East, leaders are often valued for their discipline and vision. The rivalry between the East and West for...
China’s chip exports nearly doubled in the first half of the year, customs data shows, as a global AI boom cemented computing hardware’s place as a key economic growth engine. In the first six months of this year, China exported 179.44 billion integrated circuits (ICs) worth a total of US$177.28 billion – up more than 96 per cent year on year – according to data released by the General Administration of Customs on Tuesday. The surge in IC exports was one of the key drivers behind China’s...
If you have been holding out for cheaper durians, you may not want to wait much longer. Just weeks after a bumper harvest sent durian prices tumbling across Singapore, sellers said the unusually abundant supply has begun easing since last week as Malaysian state Johor’s durian season winds down. They believe the days of heavily discounted durians and free giveaways have come to an end. “The supply is still there, but not much,” Alvin Teoh, owner of popular Geylang fruit shop Durian 36, said. The...
A US trade expert says the US, Mexico, and Canada need to hold trilateral talks to get a cross-border trade deal signed.
Facing anti-corruption policies and profit squeezing at home, Chinese innovative medical device companies are accelerating their push into the European market despite mounting cross-border trade protectionism. Government-backed hospital purchases of medical devices in China fell about 12 per cent year on year in the first five months of 2026, partly weighed down by “a new anti-corruption probe into hospitals”, dragging on the revenue of major Chinese medical device makers in the first half, said...
With central banks prioritising domestic objectives, Plaza Accord-style exchange-rate coordination is now out of reach despite growing concerns over the dollar-centred monetary system, complicating the smooth transition to a more multipolar international monetary system, according to a prominent economic historian. Barry Eichengreen, a former senior policy adviser at the International Monetary Fund, said that if erratic US policies and weakening institutional guard rails were to persist for...
For decades, Western carmakers complained that China forced them to hand over technology in exchange for access to the world’s largest auto market. Now the tables have turned. As Chinese carmakers capture global market share with cheaper, high-quality electric vehicles, countries including Canada and members of the European Union are embracing a “reverse tech transfer” strategy – by seeking Chinese investment and technology to strengthen their own industries. The United States, however, is...
Lakshmisha says the government follows a transparent fertiliser distribution system through the A.P. Agribusiness Information Management System app, and fertilisers are given to farmers based on online land records
An Export Facilitation Centre is coming up near the Seshadripuram Institution on Mysuru’s Ring Road.
Regarding a timeline, Commerce Secretary Rajesh Agrawal indicated that the deal could be signed even before the U.S. investigations on its trade partners are completed.
The food inflation based on the consumer price index (CPI) was 5.32% in June, higher than 4.78% in May, according to the data
China will make vehicle connectivity a mandatory part of its automotive safety framework, as Washington seeks to block Chinese cars using the technology over national security concerns. A national standard released by the Ministry of Industry and Information Technology on July 2 requires all new vehicles equipped with intelligent driver assistance systems to support continuous safety monitoring, data recording and remote management. The safety standard will apply to newly approved vehicle models...