Despite tariffs, Chinese EV makers still make inroads
Chinese electric vehicle behemoth BYD announced a new partnership this week with Uber that aims to bring 100,000 new EVs to the ride-sharing app globally. The international collaboration, which starts in Europe and Latin America, will expand to the Middle…
WTO chief sees ‘troubling times’ for trade
The head of the World Trade Organization on Tuesday said global commerce was going through troubling times, with protectionism on the rise. WTO chief Ngozi Okonjo-Iweala said the future of trade lay in services, digitalization and the green economy, in…
China’s top leaders vow to support consumers and improve confidence in its slowing economy
BANGKOK — China’s powerful Politburo has endorsed the ruling Communist Party’s long-term strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.” A statement issued after the meeting of…
Job losses, protests present difficulties for Chinese Communist Party
Auckland, New Zealand — Job losses and wage cuts from China’s economic downturn are hitting key industries, according to the South China Morning Post, and analysts say the situation could lead to political difficulties for the ruling Chinese Communist Party…
Global cruise industry sees growing demand, wary of port protests
MADRID — The global cruise industry expects to carry 10% more passengers by 2028 than the 31.7 million who took cruise holidays in 2023, when the sector surpassed pre-pandemic levels, but sees some routes exposed to protests over overtourism. Long…
US economic growth increased last quarter to a healthy 2.8% annual rate
Washington — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. Thursday’s report from the Commerce Department said the gross domestic product…
Some US states purge Chinese companies from investments amid tensions with China
JEFFERSON CITY, Mo. — As state treasurer, Vivek Malek pushed Missouri’s main retirement system to pull its investments from Chinese companies, making Missouri among the first nationally to do so. Now Malek is touting the Chinese divestment as he seeks…
India to spend billions of dollars on job creation
New Delhi — The government in India will spend $24 billion on boosting employment opportunities for young people, as job creation emerges as the biggest challenge confronting Prime Minister Narendra Modi in his third term. The government also announced financial…
South Africa presses to maintain preferred trade status with US
Johannesburg — Some members of the U.S. Congress have called for South Africa to be excluded from the African Growth and Opportunity Act, a U.S. program that grants duty-free access to the enormous U.S. market for many South African exports….
Iraq to import electricity from Turkey
Baghdad — Iraq said Sunday a new power line will bring electricity from Turkey to its northern provinces as authorities aim to diversify the country’s energy sources to ease chronic power outages. The 115-kilometer (71-mile) line connects to the Kisik…