World Archives - Page 6 of 303

According to sources, India is considering a potential trade agreement with Trump.

20Dec

By Brian ThompsonNo Comments

Asia, World

According to sources, India is considering a potential trade agreement with Trump.

India is discussing a possible trade and investment deal with the United States, according to officials in New Delhi. The Modi government is looking to offer tariffs cuts on some farm and other goods imported mainly from the US in a bid to clinch a broader trade and investment deal once president-elect Donald Trump takes charge, according to a report by Reuters that cited government and industry sources. To tackle Trump’s threat of a “reciprocal tax” on Indian goods for high tariffs, some officials of the Indian commerce ministry are ready to consider cuts on products such as pork, a senior government source told Reuters. India currently slaps about a 45% import tariff on pork, which is mostly supplied by the US. Tariffs could also be reduced on high-end medical devices such as p...

Closing Bell: IT, banks suffer the most, and pharmaceutical is the only exception as the Sensex drops 960 points and the Nifty closes at 23,950.

19Dec

By Walter ParezNo Comments

Market, World

Closing Bell: IT, banks suffer the most, and pharmaceutical is the only exception as the Sensex drops 960 points and the Nifty closes at 23,950.

Shrikant Chouhan, Head Equity Research, Kotak SecuritiesToday, the benchmark indices corrected sharply, with the Nifty ends 247 points lower and the Sensex down by 964 points. Among sectors, the Pharma and Healthcare indices rallied over 1 percent, while the IT, Defence, and financial indices shed over 1 percent. Technically, after a gap down, the market hovered within the range of 23,900/79,200 to 24,000/79,500 throughout the day. We believe that the short-term market sentiment remains on the weak side; however, due to temporary oversold conditions, we could see a quick pullback rally from the current levels. For traders, the key support zones are at 23,870/79,000 and the 200-day SMA (Simple Moving Average) or 23,825/78,800. If the index remains above these levels, we could see a q...

Africa’s trade deficit with China continues to widen

15Dec

By Walter ParezNo Comments

China, World

Africa’s trade deficit with China continues to widen

African countries suffer from the trade deficit with China, which has continued to swell. In 2023, the exports from China were in surplus by USD 63 billion, while the trade deficit in 2022 was USD 49 billion. In 2021, the trade deficit was USD 39 billion. These figures showed the gap between the exports between China and Africa has increased at a high rate. Since China implemented the Belt Road Initiative, its trade with African countries has increased but it did not benefit the latter. In 2023, the overall trade grew by 1.5 percent year-on-year. However, African exports to China showed a decrease of 6.7 percent to USD 109 billion. On the other hand, Chinese exports to the continent grew by 7.5 percent USD 173 billion. China has taken full advantage of the African Continental Fr...

13Dec

By Online DeskNo Comments

Market, USA, World

Economic Forecast for the United States

The US economy has had the strongest recovery from the COVID-19 pandemic of any major developed economy. Annual inflation is approaching the Federal Reserve’s target without a recession, non-managerial real wages have exceeded pre-pandemic trends, consumer spending is continuing to exceed expectations, investment in factories is at record levels, and the United States is a net exporter of petroleum products.1 Against this backdrop, in January a new administration will take charge of government. Initial market response to the news was favorable,2 with the expectation that the new administration will be able to build on the economy’s strong foundations and unlock further growth. At the same time, there remains uncertainty around the potential implications of economic policies of the...

A crisis in Taiwan is a problem in China.

2Dec

By Joe RodriguezNo Comments

China, World

A crisis in Taiwan is a problem in China.

The European Union needs a China contingency. Government and corporate decision-makers may be preparing for a possible Chinese military attack on Taiwan, but they must also focus on how a Taiwan crisis will impact China and, consequently, the EU’s economic security. Largely on account of Taiwan’s prominent position in the global semiconductor industry, a Chinese attack on the island will inflict trillions of dollars in costs on the global economy. But a Taiwan crisis also threatens to disrupt China-centered production and supply chains for green technologies, such as electric vehicles, solar panels and wind turbines, as well as create unprecedented geopolitical risk for European companies in China. The economic costs of a limited conflictJapanese observers of East Asian geopolitics ...

30Nov

By Brian ThompsonNo Comments

Asia, Market, USA, World

Asia Economic Monthly: Asia’s Trump surprise

Donald Trump has won the US presidential election. Tariffs and tax policy will likely be the focus under Trump 2.0, according to Nomura analysis. The administration may implement 60% tariffs against China, which may come into effect by mid-2025, and baseline tariffs of 10% on most foreign products imported by the US. What Trump 2.0 means for Asia Asia is better prepared this time. Trump’s re-election has less of a shock factor given greater familiarity with his policies. Asia is also more resilient, due to the ongoing trends of US-China decoupling, shifts in global supply chains and lower Asian exports to China. Yet, Trump 2.0 will likely mean more policy uncertainty, which may be a negative for Asia. There could be a larger drag on 2025 GDP growth. Even prior to t...

Before the long weekend, the dollar declines due to a dump of economic data.

29Nov

By Michael SmithNo Comments

Market, USA, World

Before the long weekend, the dollar declines due to a dump of economic data.

The dollar fell broadly on Wednesday in thin pre-holiday trade, digesting a slew of indicators that underscored U.S. economic resilience while investors assessed the risk that President-elect Donald Trump will start a tariff war no one will win. The decline further unwound the dollar's recent rally. Few traders were interested in building or holding positions before a long Thanksgiving weekend for many of them that dovetails with month end. Markets are closed Thursday and exchanges close early on Friday. Moreover, revised data showing gross domestic product rose at a 2.8% rate in the third quarter, as expected and the same as last month's first estimate, did not much bolster the case for the Federal Reserve to ease again next month, although traders still leaned that way, lifting od...

According to a survey, Asian steelmakers are failing to transition to renewable energy.

29Nov

By Brian ThompsonNo Comments

Asia, Market, World

According to a survey, Asian steelmakers are failing to transition to renewable energy.

Asian steelmakers are among the worst performers at making the switch to renewables, according to a new survey that found many of them are still entirely dependent on fossil fuels for production. Steel production accounts for about 8% of global carbon emissions and about 30% of emissions from industry. A majority of the sector’s emissions are tied to its use of metallurgical coal, which is a key source of heat and carbon needed to turn iron ore into steel. Coal-fired blast furnaces — that melt iron ore and create pig iron — produce 2 metric tons of CO2 for each ton of output. That has put steelmaking in the focus for global climate activists and policymakers, as the world races to make a critical energy transition. But a survey by Sydney-based climate group Action Spea...

Maldives abandons “India-Out” in favor of a financial lifeline

28Nov

By Brian ThompsonNo Comments

Asia, Market, World

Maldives abandons “India-Out” in favor of a financial lifeline

The state visit to India last month by Maldives President Mohamed Muizzu involved a visible effort to repair the diplomatic relationship. New Delhi more than welcomed the rapprochement and signed a range of agreements with Male. India-Maldives ties were bumped up to “Comprehensive Economic and Maritime Security Partnership,” with an ambitious vision document attached. Muizzu’s visit starkly contrasted the sentiment that accompanied his rise to power. He took took office last year following a politically charged “India-Out” election campaign. Immediately upon victory, he removed from the country the minimal Indian military presence (in place primarily to assist Male operate Indian defence platforms) and “reviewed” and junked important strategic agreements with I...

The diplomatic ties between China and Pakistan have reached a low point.

28Nov

By Joe RodriguezNo Comments

Asia, China, World

The diplomatic ties between China and Pakistan have reached a low point.

As if Pakistan’s government wasn’t under pressure enough – with thousands of protesters on the streets and the capital Islamabad in lockdown amid calls to release former prime minister Imran Khan – relations with neighbouring China are also going from bad to worse. Beijing’s growing anger over the safety of its citizens in Pakistan has been illustrated by a surprising diplomatic spat. “It is unacceptable for us to be attacked twice in only six months,” declared China’s ambassador in Islamabad Jiang Zaidong in an unusually direct response to comments made by a senior Pakistan politician seen to be downplaying the risk. “President Xi [Jinping] cares about Chinese people’s security and puts people’s lives first,” Jiang went on to say. “He especially cares about the security of t...

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