The European Union has decided to send officials to Beijing to hold more talks aimed at finding an alternative to tariffs on electric vehicles from China, according to people familiar with the matter. Agreeing to accept China’s invitation to travel to Beijing suggests there is some momentum in the negotiations, the people, who spoke on…
The European Union will impose higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers. The regulation introducing the levies will be published on the EU’s official journal Wednesday. That paves the way for their entry into force later this week after months of negotiations,…
Hong Kong Airport handled 414,000 tonnes of cargo in September 2024 compared to 376,000 tonnes in September 2023, an increase of 10.2 percent. “Cargo unloaded was up three percent at 109,000 tonnes and loaded (transshipments and exports) was 13 percent higher at 305,000 tonnes,” says an official release. Among key trading regions, cargo traffic to…
China’s economy likely grew at its weakest pace in six quarters, prompting Beijing to roll out a swath of stimulus measures in late September to draw a line under the slowdown. Data on Friday is set to show the economy expanded 4.5% in the third quarter from a year ago, according to economists surveyed by…
Chinese President Xi Jinping called on government officials to make every effort in the final quarter to help the country meet its annual growth target of around 5%, underscoring the pressure the world’s No. 2 economy is facing as the year end draws closer. Xi urged government officials to “conscientiously implement” existing economic policies and…
Biden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said, a move that would limit some nations’ artificial intelligence capabilities. Listen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen. Source link
China issued the third and what’s likely to be the final batch of fuel export quota for this year, keeping the level very similar to 2023 in a sign it doesn’t want to encourage refiners to boost activity. Seven refiners and traders received permission to export 8 million tons of gasoline, diesel and jet fuel…
Russia’s pivot to China has faced multiple setbacks this year as Chinese banks, wary of U.S. sanctions imposed over Vladimir Putin‘s invasion of Ukraine, are rejecting transactions, forcing Moscow to raise fees on yuan (RMB) transfers. Heavily sanctioned Moscow has benefited from the world’s second-largest economy since the Ukraine war began, with bilateral trade rocketing…