Friday, April 28, 2017

Tag: Export

China’s Xi Jinping At Davos, World’s Most Powerful Beggar

Xi Jinping will address the World Economic Forum on Tuesday in Davos, the first time a Chinese leader has done so. Chinese state media tells us he will speak strongly in favor of globalization. That message will be difficult to accept, however, as his country is closing off its market,...

Ethiopia has a lot riding on its new, Chinese-built railroad to the sea

ADDIS ABABA, Ethi­o­pia — The sleek, white train glides through the hilly Ethiopian countryside, the first to travel this route in nearly a decade. The contrast is stark as the new, Chinese-made electric train passes horse-drawn carriages, oxen hauling plows and crowds of curious village children. But soon it crosses...

Britain is now the second biggest arms dealer in the world

Two-thirds of UK weapons have been sold to Middle Eastern countries since 2010. Britain is now the second biggest arms dealer in the world, official government figures show – with most of the weapons fuelling deadly conflicts in the Middle East. Since 2010 Britain has also sold arms to 39 of...

Inside the Syrian Dust Bowl

The Assad family’s favorite international development organization tried to turn Syria into an agricultural powerhouse. Its failure sparked a civil war. On July 15, 2012, Mahmoud Solh at the International Center for Agricultural Research in the Dry Areas (ICARDA) received the news he’d long been dreading: Syrian rebel fighters had...

Iran’s central bank won’t bite off more than it can chew

TEHRAN, Iran — Most economists and monetary policymakers in Iran have been supportive of getting rid of the country’s dual foreign exchange rate system by as soon as March 20, 2017, when the current Iranian fiscal year comes to an end. However, there appears to be a gulf between...

It’s Time for China Analysts to Stop Talking Past One Another

What exactly is going on in the People's Republic? Even with good data, experts can't agree. On August 12, the International Monetary Fund (IMF) issued its annual report card on China's economy and gave the country mixed grades, finding that its “economic transition will continue to be complex, challenging, and...

May trade deficit jumps 10% as U.S. consumers snap up more imports

Trade gap climbs to three-month high of $41.1 billion. WASHINGTON (MarketWatch) — Higher oil prices and stronger demand by consumers for imports such as cell phones, sneakers and home furnishings boost the U.S. trade deficit in May by 10% to a three-month high. The nation’s trade gap climbed $41.1 billion from...

Turkish president apologizes for downing Russian jet

Turkey's president has apologized to Moscow for the downing of a Russian military jet at the Syrian border, Russian and Turkish officials said Monday, a move that could open the way for easing a bitter strain in Russia-Turkey ties. Recep Tayyip Erdogan's move comes seven months after the incident, which...

After Brexit Vote, Europe’s Leaders Debate Timing of U.K.’s Departure

Officials in Brussels and Berlin suggest giving Britain a chance to reconsider its decision to quit the EU. Pressure abated on the U.K. to serve swift notice of its intention to leave the European Union after last week’s referendum, as senior European policy makers suggested Britain should be allowed time...

U.S. Import Prices Rise at Fastest Pace Since 2012

May’s 1.4% jump indicates rising oil prices are contributing to firming domestic inflation. WASHINGTON—Prices for imported goods rose in May at their fastest pace in over four years, a sign that rising oil prices and the fading strength of the dollar are contributing to firming domestic inflation. May saw the third...

China’s exports tumble again in May as global demand stays weak

May's soggy Chinese trade data offered the latest sign that the world's second-largest economy was still a long way off from full health. Exports in dollar-denominated terms tanked 4.1 percent on-year, more than double April's 1.8 percent fall and slightly worse than estimates for a 3.6 percent decline, Reuters said...

U.S. to Press China to Curb Industrial Output

BEIJING — The Obama administration plans to use annual talks with leaders in Beijing to push for cuts in excess Chinese industrial output, which has inundated foreign markets with discounted steel, aluminum and other products, Treasury Secretary Jacob J. Lew said in Beijing on Sunday ahead of the meeting. The...

The Race Between U.S. And Australian LNG Just Started

Cheniere Energy reached a milestone on February 25, dispatching the first shipment of LNG from its facility at Sabine Pass, Louisiana. The LNG tanker Asia Vision departed the U.S., bound for Brazil. The fact that Petrobras would be the first to benefit from Cheniere’s operations speaks to the confused...

Venezuela Doesn’t Have Enough Money to Pay for Its Money

Venezuela's epic shortages are nothing new at this point. No diapers or car parts or aspirin -- it’s all been well documented. But now the country is at risk of running out of money itself. In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print...

UK licences £2.8bn of arms sales to Saudis since kingdom entered Yemen war

Government releases £7m of military export licences in last three months of 2015 despite calls to suspend arms sales. The British government released licences for the export of £7m of arms to Saudi Arabia in the last three months of 2015, taking the total value of such licences since the...

China Imports Record Oil as Higher Margins Boosts Purchases

China's crude imports climbed to a record in the first quarter as higher refining margin encouraged refiners to boost purchases. The world’s biggest energy user increased inbound shipments to 91.1 million metric tons in the first three months of the year, data from the Beijing-based General Administration of Customs showed...

Actually, the Surging Yen Could Be a Good Thing for Japan’s Economy

It's gold for the old. The lofty yen, the best-performing G10 currency in 2016, threatens to serve as an arrow to the heart of Japan's Abenomics, crimping exports and dampening inflation at a time when the country is trying to boost both. During an interview on Bloomberg TV, however, UBS AG...

LNG Buyers Gaining Increasing Leverage over Sellers in Coming Years

The growing oversupply in LNG export capacity has weighed on prices for the key market in Asia, pushing spot prices down by about two-thirds in less than two years. Excess supplies will likely kill off an array of LNG export terminals that have not yet moved forward with final...

U.S. import prices fall for eighth straight month

U.S. import prices fell in February for an eighth straight month, weighed down by declining costs for petroleum and a range of other goods, but the pace of decline is slowing as the dollar's rally fades and oil prices stabilize. The Labor Department said on Friday import prices slipped 0.3...

IMF issues warning on global growth as China exports plunge

The world faces a growing “risk of economic derailment” and needs immediate action to boost demand, the International Monetary Fund (IMF) warned on Tuesday as new figures pointed to the worst monthly collapse in Chinese exports since 2009. Speaking in Washington, David Lipton, the IMF’s influential second-in-command, warned that the...

Chinese exports plunge 25% in February

Chinese exports have seen their sharpest drop in almost seven years, adding to concerns over the health of the world's second largest economy. Exports dropped sharply by 25.4% from a year earlier, while imports fell 13.8%. The weak data comes on the heels of Beijing registering the slowest economic growth in...

China Trade Balance Plunges To 11-Month Lows As Exports Crash Over 25%

Worse than expected is an understatement. Things are not getting better in China as Exports crashed 25.4% YoY (the 3rd largest drop in history), almost double the 14.5% expectation and Imports tumbled 13.8%, the 16th month of YoY decline - the longest ever. Altogether this sent the trade surplus down...

Growth in domestic natural gas production leads to development of LNG export terminals

The first export shipment of liquefied natural gas (LNG) produced in the Lower 48 states on February 24 is a milestone reflecting a decade of natural gas production growth that has put the United States in a new position in worldwide energy trade. With the rapid growth of supply from...

China economy: Workers of the world’s factory protest against wage cuts and layoffs

In China's industrial heartland, the Communist Party controls the unions – but workers who feel mistreated refuse to be silenced. In the “world’s factory”, the workers are angry and disillusioned. Strikes and other labour protests have spiked across the country as Chinese manufacturing plants lay off workers and reduce wages in...

America’s Natural Gas Exports Won’t Be Enough to Blunt Putin’s Energy Weapon

The United States is shipping gas overseas for the first time in decades, but private companies sell to the highest bidder — and not just to the countries Washington might want for geopolitical reasons. A massive tanker eased into its berth in Louisiana last week and began loading thousands of...

U.S. exports of LNG mark a turning point in the market

The first major U.S. LNG shipment for export launched this week right into an oversupplied global gas market. Experts say the market could stay soft for several years, but even so, this first shipment of U.S. gas, sold by Cheniere, marks what is a new role for the U.S. in...

Saudi Oil Minister: Production Cut is Not Going to Happen

Cheap oil will last a while longer, as Saudi Arabia makes clear it’s not going to take it on the chin to save beleaguered U.S. producers. Low oil prices will be a fixture of the world economy for at least the next year, as the big oil producers inside OPEC...

China’s Africa Dream Isn’t Dead

Despite falling investment in the continent, Chinese entrepreneurs, investors, and wanderers are digging in. NAIROBI, KENYA — Jeff Kiarie was guarding a Chinese mine back in early 2014 near Arusha, Tanzania when Chinese managers and investors picked up and left, leaving their excavators, tractors, and wheel loaders behind, offering no...

Latin America: China’s power play right under the U.S.

China is making its biggest bet ever on Latin America, just as the United States is turning its back. China poured billions of dollars into Latin America in 2015. Chinese banks sent nearly $30 billion in loans to Latin American governments last year, more than double the amount from 2014. It's...

How Turkey’s foreign policy may have lost it $25 billion in trade with Iran

While international appetites grow for business opportunities in Iran following the lifting of economic sanctions, Turkey, owing to its foreign policy, has failed to make use of a special trade arrangement it already had with Iran. A preferential agreement, the product of negotiations that took about a decade, had taken effect between...

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