Wednesday, November 22, 2017

Tag: Import

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,...

Piped supplies of Russian gas to China start in 4yrs

The Power of Siberia gas pipeline, or the so-called eastern route, which is to deliver Russian natural gas to China, will become operational by 2020, according to China National Petroleum Corporation (CNPC) Vice President Xu Wenrong. "The Russia-China gas pipeline will be put in operation in 2019, in 2020 at...

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...

The Effects Of Money On Trade

There can be little doubt now outside of orthodox economics that the global economy is actually slowing, not accelerating as has been predicted. Economists themselves, however, continue to claim that things are getting better when the data strongly suggests otherwise. The latest depressing figures are from a pair of...

Retailers Seek U.S. Help With Shipping Crisis

Rates soar as Hanjin Shipping’s bankruptcy filing strands goods, causes confusion at ports. U.S. retailers, bracing for a blow as they stock up for the crucial holiday sales season, asked the government to step in and help resolve a growing crisis caused by the near-collapse of South Korea’s Hanjin Shipping...

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...

East Coast Ports Hit By Import Decline

Ports from New York to Savannah said container volumes fell in May as concerns about the economy and high inventory levels curbed import demand. Imports slumped at some of the East Coast's busiest ports in May, as high business inventories and shifting trade patterns that favor the West Coast curbed...

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...

China Imports Record Volume of Russian Oil

China increased its imports of Russian oil to a record of 5.2 million tonnes in May — roughly 1.24 million barrels every day, the Reuters news agency reported Tuesday. In annual terms, China's oil imports from Russia in May rose by 33.7 percent, Reuters reported, citing data from the Chinese...

Fukushima rice set to make first EU foray with debut in Britain

Fukushima-harvested rice will hit the stores in Britain in July, which might make it the first member of the EU to import the grain, following a sustained effort by a group of Fukushima natives in London fighting rumors about the safety of the crop. It is also the third nation,...

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...

De-Petrodollar-ization Esclates – China Imports Record Amount Of Russian Oil In April

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar. The US of course, either oblivious or too arrogant to care, has continued to bring Russia and China together by annoying both equally with its...

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...

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...

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...

EU hits China with new steel anti-dumping probes

The EU launched new probes today (12 February) into imports of Chinese steel, warning it would not allow “unfair competition” to threaten Europe’s industry already crumbling under a flood of cheap imports. European steelmakers are reeling from a global glut and last week Luxembourg-based world leader ArcelorMittal blamed China for a colossal...

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...

Venezuela Is About to Go Bust

Venezuela’s economy is facing a tsunami of bad news. The country is suffering from the world’s deepest recession, highest inflation rate, and highest credit risk — all problems aggravated by plunging oil prices. Despite all its troubles, though, until now Venezuela has kept making payments on its $100-billion-plus foreign...

China’s Oct crude oil imports rise 9.4% on year to 6.23 million b/d

China's crude oil imports rose 9.4% on year to 26.35 million mt in October, or 6.23 million b/d, preliminary data released by the General Administration of Customs Sunday showed. The October imports were 8.8% lower from September's 6.829 million b/d. China's crude imports in the first 10 months rose 8.9% on...

China, Russia and the waning demand for Canadian oil

After closing gigantic supply deals with Russia, does China still need Canadian production? The international oil trading business with its complex contractual underpinnings, expensive infrastructure requirements and protracted time horizons has never been for the faint of heart. Required is not only imagination, perseverance, immense cash reserves, and co-operative governments,...

Conscious uncoupling

Reducing Europe's dependence on Russian gas is possible—but it will take time, money and sustained political will. WHEN Vladimir Putin was bribing Viktor Yanukovych, then the president of Ukraine, to turn down a trade deal with the European Union last year, one of the sweeteners was cheap gas. The copious...

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