Global Economy
Tariff commission suggests halving sugar import duty
The commission recommended NBR cut sugar import duty to 15% from existing 30%
US grants for a feasibility study on temperature-controlled logistics
Bonton Foods has selected Minnesota-based Land O’Lakes Venture37 to conduct the study
Analysis / EV tariffs are only the first step in EU-China war
After Friday’s narrow vote, the European Commission is still talking with China to see if an alternative to tariffs is possible to address what it sees as the Middle Kingdom’s “injurious” support of its auto sector
Vietnam economy grows 7.4% in third quarter
The growth rate was the result of "adapting effectively to the fluctuations of the global economy and addressing the severe consequences of natural disasters", the General Statistics Office (GSO) said in a statement
Foxconn beats estimates with record third-quarter revenue on AI demand
Revenue for Apple's biggest iPhone assembler jumped 20.2 percent year on year to T$1.85 trillion ($57.3 billion)
China home sales rise after stimulus measures, state media says
More than 50 cities introduced policies to boost the real estate market, while nearly 2,000 developments from more than 1,000 property companies participated in promotions
As EU targets Chinese cars, European rivals sputter
As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear.
Oil settles up, biggest weekly gains in over a year on Middle East risk
Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as US President Joe Biden discouraged Israel from targeting Iranian oil facilities.
As Fed cuts loom, health of US economy could determine markets' path
How stocks, bonds and the dollar perform after the Federal Reserve kicks off its rate-cutting cycle could depend on one factor more than most: the health of the US economy.
Intel delays Germany, Poland chip factories for two years
Chip-making giant Intel on Monday said it was delaying its plans to build two mega chip-making factories in Germany and Poland as the company faces lower demand than anticipated.
Sri Lanka economy slows ahead of presidential elections
Sri Lanka’s economic growth slowed, government data showed Sunday, days ahead of the first presidential elections since an unprecedented financial meltdown in 2022.
India accuses Samsung, Xiaomi of colluding with Amazon, Flipkart
Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart's Flipkart to exclusively launch products on the e-commerce firms' Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters.
US Fed expected to announce its first interest rate cut since 2020
The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election.
US finalises sharp tariff hikes on Chinese EVs, other goods
The United States locked in tariff hikes on billions of dollars worth of Chinese goods Friday, with a 100 percent duty on electric vehicles and 25 percent on EV batteries taking effect in two weeks.
India sharply raises import tax on edible oils to support farmers
India has raised the basic import tax on crude and refined edible oils by 20 percentage points
Cash-strapped Maldives says no need for IMF bailout
The Maldives says its financial troubles are "temporary" and the luxury tourist destination has no plans to seek an International Monetary Fund bailout after warnings of a possible sovereign default
US moves to curb 'trade loophole' over China worries
The US government said Friday it will work to curb the "overuse and abuse" of a mechanism allowing lower-value imports to enter the country duty-free, as concerns grow over Chinese shipments
China retail sales, industrial production slow in August
Chinese retail sales and industrial production growth slowed in August, official data showed Saturday, as leaders in Beijing seek paths to achieve growth targets despite consumers' reluctance to spend