Indonesia passes bill to create international financial centre
Indonesia's parliament unanimously passed a bill on Tuesday to create an international financial centre known as PFII. Finance Minister Purbaya Yudhi Sadewa to…
Economy & Trade
Published stories in Economy & Trade.
IMF approves about $690 million for Ukraine after loan review
The International Monetary Fund said Monday that Ukraine can immediately access about $690 million after a review of its loan program. The IMF said the move w…
Trump orders 50 percent tariffs on many Canadian goods
US President Donald Trump signed orders Monday to impose new 50 percent tariffs on many Canadian goods, citing what he called discriminatory treatment by Ottawa against American alcohol, automobile and dairy products. The White House said the tariffs will tak…
Trump order offers lower aluminum tariffs for firms investing in US smelters
President Donald Trump signed an order on Monday allowing US officials to offer lower aluminum tariff rates to companies that commit to support the creation or expansion of smelters in the United States. The general US tariff on aluminum imports is 50 percent…
US moves to tighten defense supply-chain rules for critical materials
The United States is moving to make it harder for defense contractors to receive waivers allowing them to use critical minerals and other sensitive materials from China and certain other foreign suppliers, under an order President Donald Trump signed Monday.…
US gasoline prices return to $4 a gallon amid renewed Mideast fighting
US gasoline prices rose back to an average of $4 per gallon on Monday, according to the AAA motor club, as fighting between the United States and Iran intensified. The report said the increase adds political pressure on US President Donald Trump before midter…
Betting firms report stronger activity at expanded World Cup
Betting industry figures said the expanded 48-team World Cup drew more betting activity than expected, with Darren Small, senior vice president of Managed Trad…
European speedcubers compete in Netherlands championship
Competitive Rubik's Cube solvers from 53 countries are taking part in the 11th European speedcubing championships in Arnhem, in the eastern Netherlands. The event has 1,200 competitors and includes disciplines such as blindfold solving and solving cubes while…
France and Germany plan China trade roadmap by September
France and Germany want to produce a joint roadmap by September to address what they describe as unfair Chinese trade practices, French President Emmanuel Macron said on Friday alongside German Chancellor Friedrich Merz. The European Union is debating how to…
China objects to UK nationalisation of British Steel
China said on Friday that it strongly opposed the UK government's decision to take British Steel into full public ownership. China's Commerce Ministry expressed strong dissatisfaction after the legislation took effect on Wednesday. It accused the British gove…
XPeng CEO says carmaker is studying European production sites
Chinese electric carmaker XPeng is considering production options in Europe, including underused factories in Germany, as it plans a wider European expansion, chief executive He Xiaopeng said in Munich. He told reporters that many European countries could pot…
Emerald ash borer found in EU for first time in Hungary and Slovakia
An Asia-origin beetle that has severely damaged ash forests in North America has been detected in the European Union for the first time, with findings in Hungary and Slovakia, authorities said. Slovakia's Agricultural Central Control and Testing Institute, kn…
UK sanctions Sudan-linked gold and finance networks
Britain announced sanctions on Thursday against what it described as illicit gold and finance networks supporting rival sides in Sudan's civil war. The Foreign, Commonwealth and Development Office said Sudan's gold trade, worth billions of dollars, was helpin…
Brazil condemns new US tariff on some imports
The United States has announced a 25 percent tariff on various imports from Brazil, drawing a sharp response from Brasilia after Washington accused Brazil of unfair trade practices and policies. The tariff was announced on Wednesday and is due to take effect…
UK economy grows 0.1 percent in May as services expand
Britain's economy grew by 0.1 percent in May, a slight rebound after gross domestic product contracted by 0.1 percent in April, official data showed Thursday. The Office for National Statistics said the May growth came from a 0.3 percent rise in services outp…
EU extends Russian oil cap for one week during sanctions talks
EU countries agreed on Wednesday to keep a price cap on Russian oil for one week while they seek a broader deal on new sanctions against Moscow, diplomats said. The compromise came shortly before a deadline that would have raised the cap from its current leve…
US producer inflation eased in June as energy costs fell
Wholesale inflation in the United States eased in June as energy costs fell, government data showed Wednesday, although fighting in the Middle East has since resumed. The Labor Department said the producer price index fell 0.3 percent from May. It was the fir…
EU asks US to exempt more exports from tariffs
The European Union has asked the United States to exempt more EU exports from tariffs, including wine, spirits, beer, cheese, olive oil, olives and medical devices, an EU spokesman said. EU trade spokesman Olof Gill said Brussels had shared a broad list of ex…
OECD says UK growth depends on narrowing regional productivity gaps
On 15 July 2026, the OECD said reducing productivity gaps between UK regions was central to raising the country's economic growth and living standards. The message was included in the OECD's 2026 report on the UK economy. The organisation said progress would…
China property slump leaves Tianjin skyscraper unfinished as growth slows
The Goldin Finance 117 tower in Tianjin was planned to include a rooftop pool and a luxury hotel, but the 595.5-metre skyscraper has remained unfinished and unoccupied years after construction began in 2008. The building has become a visible example of China'…
China's second-quarter growth slows to 4.3 percent
China's economy grew 4.3 percent year on year in April-June, official data showed Wednesday, its weakest pace in more than three years and below the 4.5 percent forecast in an AFP survey of economists. The National Bureau of Statistics reported the second-qua…
China industrial output rises 5.3 percent in June
China's industrial output grew 5.3 percent year on year in June, above forecasts.
Canada seeks Mercosur trade deal by end of 2026
Canada wants to complete a trade agreement with Mercosur before the end of 2026 as it seeks to diversify trade away from the United States, Foreign Minister Anita Anand said during a visit to Brazil. Anand spoke after meeting Brazilian Foreign Minister Mauro…
US widens Iran sanctions to oil network and digital wallets
The United States expanded sanctions targeting Iran's oil sector on Tuesday, with the Treasury Department saying it was taking further aim at a network linked to petroleum shipping magnate Mohammad Hossein Shamkhani. Treasury Secretary Scott Bessent also said…
EU population projected to peak in 2029 before long decline
The European Union's population is projected to reach a high point in 2029 and then fall over the rest of the century, according to a report from the EU executive's Joint Research Centre. The report says the 27-nation bloc has 450.6 million people now and is…
US June inflation slowed as energy prices fell, but Fed caution remains
US consumer inflation slowed more than expected in June, government data released Tuesday showed, as lower energy costs outweighed increases in housing and food prices. The Labor Department said the consumer price index rose 3.5 percent from a year earlier, d…
Singapore second-quarter growth slows to 5.7 percent
Singapore's economic growth slowed in the second quarter, with advance government estimates showing a 5.7 percent expansion in April-June, compared with 6.3 percent in the previous three months. The trade ministry said manufacturing was the main source of gro…
China reports stronger-than-expected June trade growth
China reported stronger-than-expected trade growth in June, with official customs data showing exports rose 27.0 percent from a year earlier. That was above the 19.0 percent forecast in a Bloomberg survey of economists. Imports rose 36.0 percent, also above t…
Armenian farmers seek new markets after Russian import limits
Russian bans and restrictions on Armenian goods have put pressure on farmers in Armenia's Ararat valley, including apricot growers whose exports have long depended heavily on Russia. Russia imposed limits on a wide range of Armenian products, including fruits…
Lula criticizes Trump plan for Hormuz shipping fee
Brazilian President Luiz Inacio Lula da Silva criticized President Donald Trump's plan to charge fees on ships moving through the Strait of Hormuz, saying it would make the United States act like a pirate state. Trump has said he would reinstate a blockade of…
US has paid $81 billion in tariff refunds after Supreme Court ruling
The US government has paid $81 billion in tariff refunds so far this fiscal year after the Supreme Court ruled a large share of President Donald Trump's extra tariffs illegal, according to budget figures released Monday. Tariffs are taxes on imported goods. T…
Switzerland and Britain conclude talks on upgraded trade deal
On 13 July 2026, Switzerland said it and Britain had concluded negotiations on an upgraded free trade agreement. The Swiss economic affairs ministry said the agreement would increase legal certainty for businesses in both countries. The talks concluded during…
EU says donors are offering about $1 billion for early Gaza recovery
The European Union said European donors are offering almost 900 million euros, or about $1 billion, to support initial recovery work in Gaza. Dubravka Suica, the EU commissioner for the Mediterranean, announced the package before a donor meeting in Brussels.…
Germany’s car-sector slowdown weighs on young engineers
Germany’s automotive slowdown is making it harder for some young engineers to find work, even in fields linked to software and advanced vehicle systems. AFP spoke with Max Peil, a 30-year-old German software engineer trained in computer vision, a technology u…