India invests $24 million in lithium mining in Argentina to boost energy transition
January 18, 2024
India’s state-owned mining company Kabil announced a cooperation agreement with Argentina’s state-owned enterprises to jointly explore the mining of five saltwater-like lithium mines in the Argentine province of Katamaka. Under the agreement, India will invest a total of $24 million, a measure aimed at strengthening the supply chain for key minerals and reducing dependence on Chinese products.
Red Sea crisis triggers surge in shipping costs to the US
17 January 2024
After the US and the UK jointly launched large - scale attacks on Yemen in succession, the situation in the Red Sea region has not cooled down but heated up instead. Market observers predict that shipping companies may further extend their decision to bypass the Red Sea route, leading to a sharp increase in shipping costs. According to data from the shipbroker Clarksons, in the first week of January 2023, the number of container ships passing through the Red Sea and entering and leaving the Suez Canal...
RCEP promotes ASEANs digital economy and green development
15 January 2024
Bambang Soesatyo, Chairman of the Asian Innovation Research Center, an Indonesian think - tank, recently stated that since the entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP), the agreement has played an important role in promoting the development of the digital economy and the green economy in the ASEAN region, helping these two fields to achieve vigorous development. Bambang pointed out that in the digital economy field, RCEP has brought...
China becomes the main importer of Russian peas, and Russian agricultural product exports hit a new high
12 January 2024
Data recently released by the Russian Agricultural Products Export Center shows that in 2023, China became the main importer of Russian peas, leading the growth of Russian pea exports in the global market. In the first 11 months of 2023, Russia exported 915,000 tons of peas to China, significantly higher than other countries. According to data from the Russian Agricultural Products Export Center, Spain and Turkey...
The global economy faces the worst growth in 30 years, the World Bank issued a warning
11 January 2024
According to the latest forecast of the World Bank, the global economy is facing the worst five - year growth period since the 1990s. In its report, the organization predicts that although the economic conditions in different regions vary, overall, economic growth will slow down, especially in North America, Europe, Central Asia, and the Asia - Pacific region. The World Bank pointed out that although the economies of Latin America and the Caribbean...
Strikes in multiple ports in Australia caused serious logistics delays
10 January 2024
As the strike actions of dock workers at several important ports in Australia escalate, Maersk has issued a notice warning that from January 4th to January 15th, DP World Australia, the second - largest port operator in Australia, will be affected by the strike, involving ports in Sydney, Melbourne, Brisbane, and Fremantle....
The crisis in the Red Sea has aggravated European business and shipping delays and rising costs.
5 January 2024
For Thomas O'Brien, owner of the British family business Boxer Gifts, a 250% surge in costs is a harsh reality. The Leeds-based company, which designs games and seasonal gifts, manufactures its products in China and thus heavily relies on global shipping. However, with commercial vessels passing through the Red Sea frequently coming under attack over the past month or so, it has led to...
Russia extends ban on exports of key goods and equipment until end of 2025
5 January 2024
Recently, the Russian government announced the extension of the temporary export ban on a series of goods and equipment until the end of 2025. The scope of the extended ban is extensive, covering products and equipment in a variety of key fields, demonstrating Russias determination to safeguard its economic and technological security. The products and equipment included in the ban include technical and medical equipment, agricultural machinery, electrical...
Adjustment of international trade policy in regions such as Japan, India and the EU
2 January 2024
Recently, many countries and regions around the world have made important adjustments to their trade and export policies, including Japan relaxing the arms export ban and introducing carbon labels for fresh fruits and vegetables, India allowing the export of non - basmati rice to specific countries, and the EU extending the import grace period for some Russian steel products. The Japanese government has decided to significantly relax its arms export ban...
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