Stories tagged “Global Economy.”
30 stories
Media outlets from across the Asia-Pacific region have formed new partnerships in Shenzhen, China, ahead of the 2026 Apec summit, aiming to deepen collaboration on content, talent, and technology.
Chinese national David Chen learned about global industrial supply chains through a bag of potato chips. Naphtha, a flammable liquid from crude oil, is crucial for polyester fibres, packaging, and industrial solvents. Japan's naphtha supply crunch is part of a wider globa…
China has pushed back against G20 criticism regarding its trade imbalances, with the central bank denying deliberate pursuit of surpluses and vowing not to weaponize the yuan. Beijing urged all countries to undertake structural reforms to address global imbalances.
Iran and Oman are discussing a proposal to reopen the Strait of Hormuz through a temporary route, but Tehran insists the U.S. must lift its blockade before ships can transit again. China has warned the U.S. against interfering in its interests after Washington declared it…
Canada has announced counter-tariffs on US goods worth US$20 billion in response to the US imposing 50% duties on Canadian autos. The retaliatory tariffs will take effect on September 8 and will impose duties ranging from 15% to 50% across 700 US products.
The U.S. is threatening to cut businesses that help Iran evade sanctions off from the American financial system, putting China's banks in an uncomfortable position. China still has strong incentives to remain connected to dollar finance, but the country has alternatives.
The US has threatened Iran with 'economic D-Day', but many economists believe the sanctions will have a limited impact due to Iran's deep trade ties with several countries.
South African rand strengthens despite business conditions drop
The South African rand gained ground on Tuesday as emerging market currencies rose, even as new central bank data showed business conditions in the country declined for the third month in a row.
US President Donald Trump considers renaming Lake Ontario to ‘Lake America’ amid a trade war with Canada. The move would be reminiscent of Trump’s previous unilateral action to rename the Gulf of Mexico.
US President Donald Trump has announced plans to double tariffs on Canadian autos and auto parts, escalating a long-standing trade dispute between the two nations.
The US has announced a new wave of economic sanctions against Iran, targeting its digital assets, technology, gold, aviation, and shipping sectors. The sanctions aim to cut off Iran's 'lifeline' to the global economy, according to US Treasury Secretary Scott Weiss.
The US has threatened to impose severe sanctions against countries with economic ties to Iran. The US treasury secretary, Scott Bessent, launched Operation Economic Outcast, aiming to sever every economic lifeline that sustains the Iranian regime.
The oil market has stopped reacting to Trump's social media posts about the Iran war, as they no longer reflect reality and have no connection to the actual oil supply.
US Treasury Secretary Scott Bessent has threatened Iran with 'the single greatest financial offensive ever', claiming the US-Israel war with Iran was 'entering its endgame'.
Diesel Crisis Threatens to Outlast the Middle East War
A diesel crisis is unfolding, threatening to outlast the Middle East war. The conflict has disrupted global oil supplies, leading to a shortage of diesel fuel. This has significant implications for the global economy, particularly for industries that rely heavily on diese…
Canada Prime Minister Mark Carney announced retaliatory tariffs on the United States after walking away from a 'bad deal' on trade in a deepening rift between the longtime allies.
Canada's Prime Minister Mark Carney has said a fresh wave of US tariffs on Canada is a 'miscalculation' designed to 'hurt and divide us', after trade talks collapsed late on Friday. Carney said he walked away from a deal because he was not prepared to 'compromise Canada's…
NATO's top commander convened a videoconference to facilitate possible contributions to support freedom of navigation in the Strait of Hormuz, but emphasized that this is not a NATO mission.
US Treasury Secretary Scott Bessent announced that the US will impose 'the toughest sanctions in history' on Iran, urging China to cooperate with Washington. Bessent stated that the sanctions will be a one-two punch, combining a blockade with economic pressure to collapse…
Canada and the US are finalising a highly anticipated trade deal, with President Donald Trump and Prime Minister Mark Carney touting it as a success. However, details on what the agreement covers and what concessions both sides have made remain unclear.
Oil Prices Rise for Fourth Day as Hormuz Traffic Slows
Oil prices have risen for the fourth consecutive day due to a slowdown in traffic through the Strait of Hormuz, a key shipping route. The increase in prices is attributed to the risk of supply disruptions and the potential for conflict in the region.
US President Donald Trump has posted a map showing the Strait of Hormuz as a US territory. The move comes as tensions between the US and Iran remain high, with the two countries engaged in a bitter dispute over the strait. The US has imposed sanctions on Iran in an effort…
Ship hit in Hormuz as Iran's top negotiator says strait to stay shut
Iran's top negotiator says the Strait of Hormuz will not open until the US lifts its naval blockade and releases frozen Iranian assets, after a ship was hit by a projectile in the strait with a crew member reported as a casualty.
U.S.-Iran Tensions Push Oil Prices Higher as Diesel Margins Hit Records
U.S.-Iran tensions have pushed oil prices higher as diesel margins hit records. The conflict has driven up demand for safe-haven assets, including oil, and has disrupted supply routes, further increasing prices.
Iran has decided to shift its policy from defensive to a fully offensive one if diplomacy with the US fails. The country has set a deadline for the US to implement the Islamabad MoU, and will escalate tensions in the Strait of Hormuz if diplomacy fails.
Iran has warned its adversaries to 'anticipate strategic surprises' as a senior military official said the country was set to shift from a defensive stance to an offensive one. Yadollah Javani, the head of the political bureau of Iran’s Islamic Revolutionary Guard Corps (…
The Memorandum of Understanding between the US and Iran aimed at ending fighting between the two countries is set to expire on Monday, with little sign that either side is willing to extend the agreement.
No one can seize Straif of Hormuz by Tweets, Iran warns Trump
Iran's deputy foreign minister Kazem Gharibabadi rejected US President Donald Trump's claim that Washington would soon declare the Strait of Hormuz US territory, saying the waterway can only be closed or reopened by Tehran's command.
The US government has imposed tariffs of up to 100% on drones and their components to reduce dependence on Chinese imports. This move is part of a broader effort to promote domestic production and reduce reliance on foreign supply chains.
US President Donald Trump claims the US is in control of the Strait of Hormuz, but Iran denies this, saying it will not reopen the strait until its conditions are met. The strait has become a major obstacle to peace talks between the two sides.