Polysilicon products face 15% US tariff
US President Donald Trump signed an order on August 6 setting a 15 percent tariff on products made using polysilicon, a key material for solar panels and semic…
Economy & Trade
Published stories in Economy & Trade.
Syria says wheat self-sufficient for first time since 2010
Syria says it will not need wheat imports this season after reaching self-sufficiency in wheat production for the first time since 2010. Ahmed Qadoun, deputy general director of the Syrian Grain Establishment, told AFP on Thursday that there would be no need…
Iran inflation hits 66% as war squeezes households
Iranian households are making sharper trade-offs over food, transport, classes and healthcare as five months of war with the United States add pressure to an economy already hit by sanctions and currency weakness. Inflation reached 66 percent in the year endi…
German industrial orders rise 3.1% as risks mount
German industrial orders rose 3.1% in June from the previous month, the statistics office Destatis said Thursday, but analysts warned that low river levels and the Mideast war could weigh on the outlook. The increase was above the 1% rise expected in an analy…
Romania faces EU’s highest inflation as prices bite
Romania is facing the European Union's highest inflation, with rising food, fuel and electricity costs forcing households and businesses to cut spending. Inflation reached 11 percent in May before slipping to 10.4 percent in June, still the highest rate in th…
Rhine low water pushes Germany to weigh truck ban lift
Low water on the Rhine is restricting cargo through Germany’s industrial heartland, raising freight costs and prompting Transport Minister Steffen Bilger to consider easing Sunday and public-holiday truck restrictions. Bilger met industrial executives, shippi…
Trump tariff refunds reach about $100 billion
The US government has refunded about $100 billion to importers who paid Trump administration tariffs later struck down by the Supreme Court, court filings show. The amount is about 60 percent of roughly $166 billion collected after President Donald Trump invo…
US suspends Michoacan avocado imports over security
The United States suspended avocado imports from Michoacan, Mexico's top-producing avocado state, over security concerns, an industry group and authorities said on August 5. The Association of Avocado Producers and Packers said fruit destined for export would…
US services activity edges up in July, ISM says
US services-sector activity rose slightly in July, with the Institute for Supply Management's services index up 0.1 percentage point to 54.1 percent, ISM said Wednesday. ISM said new orders and business activity increased during the month, while its employmen…
US private hiring slows to 44,000 jobs in July
US private-sector employers added 44,000 jobs in July, payroll firm ADP said Wednesday, pointing to slower hiring before the US government's official employment report due Friday. ADP said leisure and hospitality employers cut 11,000 jobs, while trade, transp…
China limits drone exports to US, blacklists six firms
China announced restrictions on drone exports to the United States and blacklisted six US businesses on Wednesday in response to trade sanctions imposed by Washington over forced labour and national security concerns. A Chinese Commerce Ministry spokesperson…
Indonesia GDP growth slows to 5.3% in second quarter
Indonesia's economy grew 5.3 percent in April-June, official data released Wednesday showed, slowing from 5.6 percent in the previous quarter while household and government spending rose. The second-quarter figure was above the 5.1 percent projected in a Bloo…
Bangladesh garment factory closures reach 400, group says
Bangladesh's garment industry has seen about 400 of its roughly 4,000 apparel factories shut over the past two years, eliminating tens of thousands of jobs, the Bangladesh Garment Manufacturers and Exporters Association said. The closures and layoffs reflect…
IMF agrees technical assistance program for Syria
The International Monetary Fund said on Tuesday it had agreed a wide-ranging technical assistance program for Syria, where the new government is trying to rebuild the economy after more than a decade of civil war. An IMF team made a five-day trip to Damascus…
Italian lottery ticket worth €1m found in trash
A €1 million lottery ticket was recovered from a garbage truck in Italy after the winner realised it had been thrown away and asked waste workers for help. Roberto Nicola Toscano, administrator of the SANB waste management company in southern Puglia, said the…
US trade deficit narrows to $73.3bn in June
The US trade deficit narrowed to $73.3 billion in June, government data showed Tuesday, as imports fell more than exports from the previous month. The overall trade gap was down 5.6% from May. Imports fell by $7.3 billion to $388 billion, while exports droppe…
US factory activity hits four-year high in July
US manufacturing activity grew faster in July, with the Institute of Supply Management's manufacturing index reaching a four-year high despite continued uncertainty over prices and the war in the Middle East. ISM said Monday that its manufacturing index rose…
Taiwan economy grows 12.9% on AI demand
Taiwan's economy grew 12.9 percent from April to June, government data showed Friday, as demand for artificial intelligence technology supported exports. Taipei's statistics bureau said second-quarter gross domestic product growth slowed from 14.6 percent in…
Hong Kong GDP growth slows to 4.3% despite AI exports
Hong Kong's economy grew 4.3% in the second quarter of 2026, official advanced data showed Friday, slowing from the first quarter despite a surge in exports linked to global demand for artificial intelligence products. The figure was down from 5.9% growth in…
Germany unemployment rises to 6.4% in July
Germany's unemployment rate rose to 6.4% in July, the federal employment agency BfA said Friday, citing mainly seasonal factors and weak labour market momentum. Analysts polled by FactSet had forecast the rate would stay at 6.3%, the level recorded in each of…
Eurozone inflation rises to 2.9% in July
Eurozone inflation rose to 2.9% in July from 2.8% in June, the EU statistics agency Eurostat said Friday, as energy prices increased. The figure remained above the European Central Bank's 2% target and matched predictions by analysts for Bloomberg. Core infla…
France inflation rises to 2.1% in July
French consumer prices rose 2.1% year-on-year in July, up from 1.8% in June, provisional figures from statistics body INSEE showed Friday. INSEE said higher prices for services and energy drove the increase. Its provisional Harmonised Index of Consumer Prices…
North Korea economy grew 3.5% in 2025, Seoul says
North Korea's economy grew 3.5 percent in 2025, South Korea's central bank estimated Friday, marking a third straight year of growth above three percent. The Bank of Korea said North Korea's real gross domestic product expanded to 38.26 trillion won, or $26.6…
China factory activity contracts as broader PMI falls
China's factory activity fell back into contraction in July, official data showed Friday, while a broader gauge covering services and construction also declined. The manufacturing purchasing managers' index fell to 49.2, the National Bureau of Statistics said…
Portugal approves draft windfall tax on oil firms
Portugal’s government approved a draft law Thursday to launch a temporary tax on windfall profits earned by oil firms as fuel prices rise after the Middle East war. The government said the revenue would support families and sectors most affected by fuel price…
China tells US of concern over trade restrictions
Chinese Vice Premier He Lifeng told US officials in a video call Thursday that Beijing had “serious concern” over recent US economic and trade restrictions against China, state news agency Xinhua reported. Xinhua said He spoke with US Treasury Secretary Scott…
Mexico economy grows 2.1% in second quarter
Mexico's economy grew 2.1% in the second quarter of 2026 from the same period a year earlier, the INEGI national statistics institute said Thursday. Gross domestic product rose 1.5% compared with the first quarter of 2026. The official figures linked the incr…
US GDP growth slows to 1.5% in second quarter
US gross domestic product grew at an annualized rate of 1.5% in the second quarter, the Commerce Department said Thursday, slowing from 2.1% in the previous quarter. The Bureau of Economic Analysis said the slowdown in real GDP reflected a downturn in governm…
Germany inflation rises to 2.8% in July
German inflation rose to 2.8% in July from 2.3% in June, provisional data from statistics office Destatis showed Thursday. Energy prices increased 8.3%, a faster rate of growth than in May or June. Excluding volatile food and energy costs, inflation was 2.4%.…
Japan to cut food sales tax to 1% for two years
Japan will temporarily cut consumption tax on food and beverages from eight percent to one percent from next April, Prime Minister Sanae Takaichi said on Thursday. Takaichi said the lower rate would last for two years and then return to eight percent in 2029,…
Italy economy grows 0.2% in second quarter
Italy's economy grew 0.2% in the second quarter from the previous quarter, national statistical institute Istat said Thursday in an initial estimate. Istat said the figure marked a slight slowdown from 0.3% growth in the previous quarter. Year-on-year growth…
Eurozone economy grows 0.4% despite Middle East war
The eurozone economy grew 0.4 percent in the second quarter of 2026, Eurostat said Thursday, as the currency area continued to expand despite pressure linked to the Middle East war. The EU statistics agency said the 21-country single currency area had recorde…
Spain GDP grows 0.7% in second quarter
Spain's economy grew 0.7% in the second quarter of 2026, the National Statistics Institute said Thursday in a provisional estimate. The figure was higher than the 0.6% growth recorded in the first quarter. Economy Minister Carlos Cuerpo called it “solid growt…
Germany GDP growth slows to 0.2% despite Mideast war
Germany's economy grew 0.2% in the second quarter of 2026, slowing from revised growth of 0.4% in the first quarter, provisional figures from the statistics office Destatis showed Thursday. Output in the European Union's largest economy rose 0.2% from the fir…
French economy grows 0.2% in second quarter
France's economy returned to growth in the second quarter, expanding 0.2%, the statistics office INSEE said in a first estimate released on July 30. The second-biggest economy in the European Union had contracted 0.1% in the previous quarter. INSEE said the r…
Canada oil not leverage in US tariff talks, Carney says
Prime Minister Mark Carney said he does not want to use Canadian oil as leverage in negotiations with the United States over new tariffs on Canadian products. Speaking during a trip to Alberta on Wednesday, Carney said he did not “see the value” in threatenin…
IMF says Saudi economy resilient despite Mideast war
The International Monetary Fund said Saudi Arabia’s economy has remained resilient during the Middle East war, while warning that future uncertainty could weigh on growth. In the concluding statement of its Article IV consultation, the IMF cited what it calle…
Irish economy rebounds 3.9% in second quarter
Ireland's economy returned to growth in the second quarter, expanding 3.9% after a 7% contraction in the first three months of the year, the Central Statistics Office said Wednesday. The CSO said the second-quarter growth was driven mainly by an increase in t…
Cuba opens gas stations and pharmacies to private firms
Cuba moved on Wednesday to open several crisis-hit parts of its state-run economy to private firms, including petrol distribution, electricity generation, waste collection and the manufacture and sale of medicines. The decree loosens restrictions in sectors c…
WTO rules against Turkey in China electric car case
The World Trade Organization has ruled against Turkey in a dispute over duties on imported Chinese electric cars. China filed a complaint in October 2024 after Turkey imposed an additional 40 percent in customs duties on electric vehicles imported from China.…
EU budget: Merz demands hundreds of billions in cuts
German Chancellor Friedrich Merz said Tuesday that the European Union should cut several hundred billion euros from its proposed 2028-2034 budget and do more to improve competitiveness as negotiations begin over the bloc's next spending plan. The European Com…
Brazil seeks WTO talks over new US tariffs
Brazil has requested consultations with the United States at the World Trade Organization over new US tariffs on several Brazilian products, the foreign ministry said. The ministry said Brazil submitted the request on July 27 under the WTO dispute settlement…
El Salvador faces slow growth and job cuts despite Bukele’s security gains
El Salvador is facing worries over slow growth, layoffs and the cost of living despite major security gains under President Nayib Bukele's anti-gang crackdown. Bukele remains highly popular for a campaign that the source says cut the homicide rate to 1.3 per…
Chile defense minister says US tariffs raise doubts over ties with Washington
Chile's Defense Minister Fernando Barros said on July 27 that new United States tariffs raise doubts about the reliability of Chile's relationship with Washington. US President Donald Trump imposed tariffs of between 10 percent and 12.5 percent on 60 trading…
IMF chief says Argentina economy is ‘much sounder’ under Javier Milei
International Monetary Fund managing director Kristalina Georgieva praised Argentina's economic position during a visit to Buenos Aires, saying the country has a “much sounder” picture than when President Javier Milei took office in 2023. Georgieva spoke on M…
German business confidence rises for third month and beats forecasts
German business sentiment rose for a third consecutive month in July as companies became more optimistic about the economic outlook despite the Middle East war, the Ifo institute said. Ifo’s closely watched business confidence index increased to 86.6 points f…
Bangladesh and China launch Chattogram industrial zone expected to create 100,000 jobs
Bangladesh and China launched construction on Monday of a long-delayed industrial zone near the port city of Chattogram that officials said could create around 100,000 jobs. Officials from both countries inaugurated the 800-acre Chinese Economic and Industria…
Over 1,000 Chinese tourists reenact Red Army battle at Loushan Pass
More than 1,000 tourists took part in a reenactment of a 1935 Red Army battle at Loushan Pass in southwestern China’s Guizhou province over the weekend. Participants wore Red Army-style uniforms, carried prop weapons and moved through staged battle positions…
IMF chief says ‘I don’t worry about Argentina’ despite 33.5% inflation
International Monetary Fund managing director Kristalina Georgieva said on Monday that she did not worry about Argentina, praising its economy as “much sounder” under President Javier Milei despite annual inflation of 33.5 percent. Speaking at a joint press c…
US to reopen some Mexican border ports for cattle imports
The US Department of Agriculture said it will begin reopening cattle ports along the Mexican border next month, more than a year after imports were halted over concerns about New World screwworm. President Donald Trump's administration announced in May 2025 t…
Trump finds new legal routes to keep tariffs after Supreme Court setback
President Donald Trump has found new ways to keep broad US tariffs in place after the Supreme Court ruled against his earlier use of emergency economic powers, analysts said. This week, Trump imposed sweeping new tariffs on 60 trading partners, while 25 perce…
Canada holds Gordie Howe Bridge ceremony without US after Trump tariffs
Canada held its own inauguration ceremony Friday for the Gordie Howe Bridge after cancelling a joint event with the United States following the announcement of new US tariffs on Canadian products. The 2.5-kilometre bridge between Windsor, Canada, and Detroit,…
Trump threatens EU tariffs over $1 billion Google fine
US President Donald Trump threatened tariffs against the European Union and an immediate trade investigation after the European Commission fined Google 890 million euros, or about $1 billion, under its digital competition rules. Trump said in a Truth Social p…
US new home sales beat June forecast but remain 5.6% below 2025
New home sales in the United States rose 1.6 percent in June and exceeded analysts’ expectations, but remained below their level a year earlier as borrowing costs and inflation continued to pressure households. The Commerce Department said sales increased fro…
Russian-linked alumina refinery puts Ireland under pressure over Ukraine stance
A Russian-linked alumina refinery on Ireland's west coast has become the centre of a political dispute over Ukraine, exports to Russia and local jobs. The Aughinish Alumina industrial complex, on the Shannon estuary in County Limerick, employs about 500 peopl…
Norway objects to new US tariffs on its exports
Norway protested on Friday against a new wave of United States tariffs, saying the duties were higher for Norway than for the European Union. The new US tariffs targeting 60 trading partners took effect Friday, replacing a global duty introduced earlier in th…
Eurozone business activity returns to growth in July, S&P Global data shows
Business activity in the eurozone grew in July for the first time in four months, according to purchasing managers' index data published by S&P Global. The eurozone PMI rose to 51.9 in July from 50 in June. A reading above 50 indicates growth, while a reading…
China limits dual-use exports to 14 European Union entities
China banned exports of products with potential civilian and military uses to 14 European Union entities on Friday, citing national security concerns. China's commerce ministry said it had placed the 14 entities, including Lafert Group, on its export control…
Survey shows eurozone business activity grew in July
Business activity in the eurozone returned to growth in July, according to a purchasing managers' index published by S&P Global. The index, a gauge of the economy's overall health, rose to 51.9 in July from 50 in June. A reading above 50 indicates growth, whi…
US brings in new tariffs on 60 trading partners
A new round of United States tariffs on 60 trading partners took effect on Friday, replacing a global duty introduced earlier in the year by President Donald Trump that had expired. The new levies range from 10 percent to 12.5 percent and affect major economi…
Philippine business chamber voices concern over new US tariff
A leading Philippine business group said Friday it was very concerned by a new 12.5 percent US tariff that the Trump administration has said is linked to forced labour concerns. George Barcelon, chairman of the Philippine Chamber of Commerce and Industry, sai…
New Zealand prime minister condemns new US tariffs
New Zealand Prime Minister Christopher Luxon criticised new United States tariffs on Friday, calling them "extremely disappointing", after New Zealand and 59 other countries faced fresh levies linked to forced-labour concerns. Luxon said on X that the US inve…
Japan says it regrets new US tariffs tied to forced-labour rules
Japan's government said Friday that it regrets new United States tariffs after Tokyo was included on a list of trading partners facing levies ranging from 10 to 12.5 percent. Chief government spokesman Minoru Kihara said Japan's industry and trade follow inte…
Mexico says over 80 percent of exports will avoid new US tariffs
Mexican Economic Secretary Marcelo Ebrard said Thursday that more than 80 percent of Mexican exports to the United States will be exempt from a new round of US tariffs announced by Washington. The announcement came as the United States and Mexico finished a t…
Japan core inflation rises to 1.6 percent as oil and yen pressures grow
Japan's core inflation accelerated in June, official data showed Friday, as higher oil costs and a weaker yen raised consumer prices in the world's fourth-biggest economy. The internal affairs ministry said core inflation, which excludes food prices, rose to…
World Bank confirms plan to phase out lending to China by 2031
The World Bank confirmed that it plans to phase out lending to China by 2031 under a new country partnership framework for the world's second-largest economy. The World Bank Group said lending through the International Bank for Reconstruction and Development…
US trade representative warns EU Google fines could hurt trade ties
US Trade Representative Jamieson Greer warned on Thursday that the European Union's decision to fine Google 890 million euros, about $1 billion, could weaken the EU's hopes for smoother trade relations with the United States. Greer said in a statement that th…
UK prime minister sets business-rates cut for pubs and venues
Britain's new prime minister, Andy Burnham, announced a 20 percent cut to business rates for pubs, clubs and live music venues, saying the measure was meant to support businesses under pressure from rising costs. The cut to the local tax paid by firms is expe…
US trade envoy hopes for North America trade options by year-end
US Trade Representative Jamieson Greer said Wednesday that he was hopeful for progress by the end of the year on talks over a North American trade deal, while indicating that negotiations could continue into 2027. Greer told the Senate Finance Committee that…
German foreign minister seeks wider business ties with Nigeria
Germany's foreign minister ended a two-day visit to Nigeria as Berlin sought deeper business links in Africa amid pressure involving the United States, China and Russia. Johann Wadephul called for stronger trade and investment ties at a meeting with Nigerian…
China warns France over fast-fashion law targeting online platforms
China warned of possible retaliation over a French law aimed at limiting fast fashion, calling the measure discriminatory and saying it may violate trade rules. The bill was passed by France's parliament late last month and is due to impose per-item fees from…
UK inflation falls as Burnham sets out cost-of-living measures
Britain's annual inflation rate fell more than expected in June, helped by lower fuel prices, giving new Prime Minister Andy Burnham an early boost as he promoted measures aimed at easing living costs. The Office for National Statistics said the Consumer Pric…
Trump announces staged tariffs on imported generic drugs
US President Donald Trump said Tuesday that imported generic drugs would face new tariffs after a two-year zero-tariff period, in a move he said was aimed at moving production of the medicines to the United States. In a post on his Truth Social platform, Trum…
Key maritime straits remain central to trade and geopolitical tensions
Maritime straits including Hormuz, Bab el-Mandeb, Malacca, the Bosphorus and the Dardanelles remain central to global trade and have repeatedly been linked to geopolitical rivalry. The Strait of Hormuz is one focus of current tension as Iran tightens its grip…
Serbia says nearly 30,000 pigs died or were culled in African swine fever outbreaks
Serbia's agriculture ministry said nearly 30,000 pigs have died or been culled in recent weeks after several outbreaks of African swine fever. Agriculture Minister Dragan Glamocic told a parliamentary committee that about 29,200 pigs had been culled or had di…
EU says new US tariffs match earlier commitments
The European Union said on Friday that a new wave of United States tariffs imposed by Washington was in line with earlier EU-US commitments, easing fears in Brussels that the measures could be retaliation for an EU fine on Google. European Commission spokesma…
Netherlands to ban goods from Israeli settlements from September
The Dutch government announced Tuesday that it will ban imports from Palestinian territories occupied by Israeli settlers from September 22. The foreign ministry said the ban will cover the import, purchase and sale of goods from illegal Israeli settlements i…
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…
Taiwan Cuts Papua New Guinea LNG Buys After Office Row
Taiwan said on July 28 that it has reduced liquefied natural gas purchases from Papua New Guinea after Port Moresby moved to shut down Taipei's representative office. Michael Lin, head of Taiwan's foreign ministry Department of East Asian and Pacific Affairs,…
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 says it will seek other markets after new US tariff
Brazilian President Luiz Inacio Lula da Silva said Brazil will seek other markets after a new 25 percent United States tariff on some Brazilian products took effect on Wednesday. The levy followed US accusations that Brazil used unfair trade practices. Brazil…
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…