Nigeria accounts for 20% of India’s trade in Africa, says envoy

Abhay Thakur, the high commissioner of India to Nigeria, has said that Nigeria alone accounted for 20 percent of India’s trade in Africa for the year ended 2018. He made this known on Thursday at the flag hoisting ceremony on the auspicious occasion of the 72nd anniversary of India’s independence at the high commission in […]

US-China trade talks will focus on yuan weakness, experts say

U.S.-China trade talks

The Chinese yuan’s weakness will be a focal point during the U.S.-China trade talks in late August, as both countries grapple with the fallout from recent fluctuations in the currency markets, analysts said. The mid-level talks will likely be about “how exactly are they going to deal with the RMB (renminbi),” said Robin Brooks, chief […]

China slaps 25% tariffs on $16 billion worth of US goods

China, US-China trade relations, U.S. Goods

The Chinese ministry of commerce Wednesday announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list, as well as fiber optical cables. According to CNBC report monitored by business a.m., China […]

U.S. will not stop Iran oil exports, says foreign minister

Oil Exports

U.S. plan to reduce Iran’s oil exports to zero will not succeed, Iranian Foreign Minister, Mohammad Zarif was cited as saying by an Iranian newspaper on Wednesday. U.S. officials have said in recent weeks that they aim to pressure countries to stop buying oil from Iran in a bid to force Tehran to halt its […]

Beijing urges US firms in China to lobby Washington over trade war

China, US-China trade relations, U.S. Goods

China Thursday urged US companies operating within its jurisdiction to lobby their government to protect their interests, saying foreign firms operating in China would suffer in a trade war. The Chinese authorities also revealed that there were currently no talks to end the impasse. Earlier Thursday, South Korea warned that its exports of high-tech components […]

World tea production to hit 4.4m tonnes in 2027 on output boost

World production of black tea is projected to rise annually by 2.2 percent over the next decade to reach 4.4 million tonnes in 2027, reflecting major output increases in China, Kenya and Sri Lanka, according to a new report by the Food and Agriculture Organisation Intergovernmental Group. Output of green tea is foreseen to increase […]