The White House said on Wednesday that President Joe Biden will sign a bill next Tuesday to subsidize the U.S. semiconductor industry and boost its competitiveness against China. The legislation aims to alleviate a persistent shortage that has affected everything from cars to weapons to washing machines to video games. As the shortage continues to …
Taiwan believes that China is punishing it economically for a visit by US House Speaker Nancy Pelosi by blocking imports of hundreds of its food producers and temporarily suspending natural sand exports. China Customs Administration has suspended imports of more than 2,000 of about 3,200 Taiwanese food products since Monday night when US and Taiwanese …
The first grain ship to depart Ukraine since Russia invaded has arrived in Turkish waters and completed inspections, Ankara says. The Razoni, which carried 26,000 tonnes of corn, was inspected by officials from Russia, Ukraine, Turkey and the United Nations. It is unclear when the ship will be able to sail onward to Lebanon. Ukraine’s …
Japan’s clothing and accessory imports increased by 24.8 percent year-on-year to 233,597 million yen in June 2022. Reported by the provisional trade statistics released by the Far Eastern country’s ministry of finance, this accounted for 2.3 percent of the total import of 10,013,136 million yen during June. The import of textile yarn and fabrics were …
Over the last few months oil companies have taken record profits at a time when Americans struggled to pay for fuel, food and other basic necessities. Exxon Mobil reported on Friday an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion. The record breaking profits come only a day …
Oil prices fell early on Monday as investors braced for a meeting this week between OPEC and other major producers on supply adjustments. Brent crude futures LCOc1 were down 63 cents, or 0.6%, at $103.34 a barrel by 0000 GMT. US West Texas Intermediate crude CLc1 was at $97.87 a barrel, down 75 cents, or …
India’s lowest wheat stocks in 14 years and rising dollar prices mean Bangladesh’s wheat problems are far from over. On Saturday, wheat prices fell by T4 to 5 per kg as India continued to export through Hili Land Port in Dinajpur, however, this will bring short-term relief. Haroon Ur Rashid, President of Hili Land Port …
The government said India’s toy imports fell by 70% over the past three years, while exports rose by 61% as the “Make in India” yields positive results for the sector. Anil Agrawal, Additional Secretary of Department for Promotion of Industry and Internal Trade said that government interventions have helped in the Toy Sector after Prime …
The value of garment exports from Cambodia to South Korea is currently negligible, however, a free trade agreement (FTA) between the two countries is expected to enter into force this year, boosting Cambodia’s exports of goods. In the first five months of this year, Cambodia’s garment exports to South Korea were worth $79.228 million. Cambodia …
The gems and jewellery industry in India has been dealt a double whammy this year, severely affecting its growth. The sector, which grew 45-50 percent in FY2021-22 (on a lower base in FY2021), is likely to grow only 1-3 percent in the current fiscal timescale in value terms, according to the CRISIL SME Tracker reported …
