Christian Lindner (FDP), Federal Minister of Finance, is on his way to a bilateral meeting with US Treasury Secretary Yellen at the headquarters of the World Bank. Bernd von Jutrczenka | Picture Alliance | Getty Images German carmakers do not have to fear competition from China and are still considered the best in the world, … Read more
U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects ranging from missiles to moon landings, strengthening their alliance with an eye on countering China and Russia. Mandel Ngan | AFP | Getty Images U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects … Read more
Australia will launch subsidies and incentives modelled on similar efforts in the United States and Europe to help the giant commodity exporter bolster domestic manufacturing and promote industries it sees as vital to national security. Darrian Traynor | Stringer | Getty Images Australia will launch subsidies and incentives modelled on similar efforts in the United States … Read more
New Delhi: The global trade growth is expected to pick up gradually this year after a contraction in 2023 but regional conflicts, geopolitical tensions and economic policy uncertainty pose substantial downside risks, according to a WTO forecast released on Wednesday. The World Trade Organisation (WTO), however, lowered the trade growth projection for 2024 to 2.6 … Read more
Even before an enormous container ship rammed a bridge in Baltimore in the early hours of Tuesday, sending the span hurtling into the Patapsco River, and halting cargo traffic at a major U.S. port, there was ample reason to worry about the troubles dogging the global supply chain. Between swirling geopolitical winds, the variables of … Read more
Delegates attend the 13th World Trade Organization Ministerial Conference in Abu Dhabi of Feb. 26, 2024. India and South Africa have filed a formal objection against an investment agreement at a World Trade Organization meeting in Abu Dhabi, blocking its adoption in a move that observers say could block hundreds of billions of dollars in … Read more
A China-Europe freight train returning from Russia arrives at a railway container freight center on September 20, 2023 in Manzhouli, China. Liu Wenhua | China News Service | Getty Images Shippers are scrambling to find alternative ways to transport goods from China to Europe in light of the disruption caused by attacks on the Red … Read more
The attacks on commercial ships in the Red Sea by Yemen’s Iran-backed Houthi rebels have rerouted most of the trade normally flowing through the crucial maritime artery for consumer goods and energy supplies, a shift that’s delaying shipments and raising transport costs. The impact struck home Friday when electric car maker Tesla said it had … Read more
The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first … Read more
U.S. ports are receiving multimillion dollar grants to upgrade cargo handling infrastructure. The grants are part of the Biden administration’s $21 billion commitment to modernize port infrastructure in the U.S. Midsize port cities such as Baltimore are among the 2023 grant recipients. In November, the Port of Baltimore received a $47 million grant to kick-start … Read more
