China
Russia says trade with China expected to hit record $200 bn in 2023
Russia has been hit by unprecedented Western sanctions since it unleashed a devastating war against Ukraine and has been shut out of much of the global economy, CNN reported. But China, which has declared "no limits" to its friendship with its northern neighbour, has thrown the Kremlin an economic lifeline, tempering the impact of its banishment from the global financial system, CNN reported.
China hits back at Biden, bans US-based Micron over 'national security risks'
The Chinese government said that Micro products will be banned for sale to the country's key information infrastructure, as the US continues to tighten control on China-based tech companies, reports South China Morning Post.
China becomes world's biggest exporter of cars after overtaking Japan
China exported 1.07 million vehicles in the period, up 58 per cent compared to the first quarter of 2022, the BBC reported. At the same time Japan's vehicle exports stood at 954,185, after edging up 6 per cent from a year earlier. China's exports were boosted by demand for electric cars and sales to Russia.
India, Canada agree to enhance cooperation for investment promotion, info exchange
This was finalised after both the countries concluded the 6th India-Canada Ministerial Dialogue on Trade and Investment in Ottawa on Monday.Union Commerce minister Piyush Goyal and Canadian Minister for International Trade Mary Ng concluded the negotiations for their respective countries.
Commerce minister Piyush Goyal to co-chair India-Canada ministerial trade dialogue
MDTI is a bilateral mechanism which provides institutional mechanism to discuss a broad spectrum of trade and investment related issues and cooperation areas. The dialogue will focus on various themes, including strengthening the bilateral trade relationship between India and Canada, investment promotion and cooperation.
US Chamber of Commerce warns of increase in risks for businesses in China
The influential business lobby said it was closely monitoring "heightened official scrutiny" of US firms by the Chinese authorities, following the questioning of employees at management consultancy Bain & Company in Shanghai and the shutdown of the Beijing of due diligence provider Mintz Group, reports CNN.
China's economy grows faster than expected
Compared to the same period last year, gross domestic product (GDP) grew by 4.5 per cent, the BBC reported on Tuesday citing official figures. The key measure of economic activity was driven up by a boost in household spending and rising factory activity. Beijing pledged to boost the world's second largest economy when it.
Global oil demand on course for a record high
The International Energy Agency's predicted daily average for 2023 is 2m bpd higher than last year's figure. The price of a barrel of oil rose from $85.62 to $86.10 on Friday morning after the IEA's report was published, The Guardian reported. The agency warned that a recent decision by the world's biggest oil exporters to cut their ;production could drive oil prices higher, in a blow to efforts to reduce inflation and reset economic growth in developed countries, The Guardian reported.
Wheat export ban to stay to ensure domestic supplies, check inflation, says Piyush Goyal
Speaking to media persons in Rome, where he is currently on an official visit, Goyal noted that wheat procurement has begun and initial figures related to buying are "very satisfactory". He expressed hope that despite unseasonal rains, the harvest will be good. The minister went on to add that adequate supplies need to be ensured in the country of wheat, once the procurement is over.
'Huge delta of opportunities in India': Piyush Goyal at India-France business summit
Goyal, who is currently on a tour of France, while addressing the India-France Business Summit and CEOs Roundtable in Paris on Tuesday, said: "We are one of the largest consumers of goods and services. Exports of goods and services are growing by over 50 per cent, and we hope to continue this growth trajectory. We hope to see our exports of goods and services triple from $765 billion to $2 trillion by 2030."
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