Rising prices of lithium, cobalt could slow rollout of electric cars

electric cars

Lithium and cobalt are critical components in batteries for electric cars. The rapid growth in the demand for rechargeable batteries has now driven up these raw material prices and given rise to concerns about potential cobalt and lithium scarcities that could slow the rollout of electric vehicles, say authors of an IMFblog post seen by […]

Asian investors brush off ongoing China-U.S. trade tiff as Shanghai’s blue-chip stocks climb 2.4%

Shanghai's blue-chip stocks

Investors in Asia largely brushed off the ongoing trade fight between China and the U.S., with Shanghai’s blue-chip stocks climbing 2.4 percent, a move supported by the tech and financial sectors, according to reports. According to Hussein Sayed, chief market strategist at FXTM, solid economic data and possible government intervention through monetary & fiscal policies […]

China’s Alibaba to battle Meituan in food delivery business

Alibaba

Leading ecommerce giant, Alibaba Group said it plans to merge its food delivery units and raise funds for the combined business, a move that aimed at intensifying battle with Tencent-backed Meituan Dianping for dominance of China’s booming on-demand services market. Reuters reported that Alibaba units to be merged include food delivery platform Ele.me and food, […]

China warns of tariffs on imported US goods worth $60bn

China

China has revealed plans to impose retaliatory tariffs on US imports worth $60 billion (£46bn), firing the latest volley in the mounting trade dispute between the world’s two largest economies. Signaling the nation’s readiness to respond to the higher tariffs threatened by Donald Trump on $200bn of Chinese imports, officials in Beijing said countermeasures were […]

Japan, EU sign major trade deal to counter US-led protectionist drive

Japan and the EU signed a sweeping free trade deal Tuesday, saying they were sending a “clear message” against protectionism, as Washington puts up barriers and threatens a trade war. According to AFP report, the deal signed in Tokyo is the largest ever negotiated by the EU and creates a massive free trade zone, eliminating […]

Trade concerns with China threatens America’s stock market

China, Nigerian Stocks, NSEASI

Larry Fink, CEO of BlackRock Inc. the world’s largest asset management firm, has joined other high profile investors expressing caution on trade concerns with China that could potentially hurt America’s stock market. According to Fink, the trade wars pose a looming threat for Wall Street, despite a recent run up in US equity benchmarks. Fink […]

China hunts new grounds in Africa, South America for steel exports

Chinese steelmakers are hunting new export destinations in Africa and South America as shipments to their biggest overseas buyers in Southeast Asia fall by double digits, with new U.S. trade actions threatening to kill off some markets entirely. The world’s largest maker, consumer, and exporter of steel is finding it has fewer export options. The […]

Chinese e-commerce giant Alibaba created over 36.8m jobs in 2017

Chinese e-commerce giant Alibaba created over 36.8 million jobs in 2017 via its expansive retail ecosystem, a report showed. According to Xinhua news agency, quoting the Renmin University of China report, the company’s various e-commerce platforms like Tmall and Taobao, which cover over 500 million consumers, offered about 14.05 million jobs to online retailers in 2017. […]

China manufacturing activity accelerates in March on factories production increase

Manufacturing activity in China accelerated in March, according to official data released Saturday, exceeding forecasts as factories increased production with the end of seasonal anti-pollution measures. The Purchasing Managers’ Index (PMI), which is published by the National Bureau of Statistics, rose to 51.5 in March compared with 50.3 in February and 51.3 in January. The […]