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 […]

China’s open economy to benefit UK, world market, says Liu Xiaoming

China’s deepening reform and opening up of the economy is expected to generate new opportunities for the shared development of the country and the world, China’s ambassador to the UK said Addressing British and Chinese representatives from business and media enterprises at a convention in Bloomberg’s European headquarters, China’s UK ambassador Liu Xiaoming reaffirmed commitment […]

China to reduce import car tariffs from July 1

China’s ministry of finance declared Tuesday that the country is going to slash tariffs on most imported cars to 15 percent, with effect from July 1, 2018. This will include the current 25 percent tariff levied on 135 items and 20 percent on four items, down 40 percent and 25 percent respectively. This was announced […]

FMN chairman, stakeholders call for expansion of US-Nigeria trade ties

John Coumantaros, the co-chair of the United States Nigeria Council (USNC) and chairman of Flour Mills Nigeria, has commended the council’s support towards ensuring the growth of entrepreneurs in Nigeria through investments in key industrial sectors that would aid job creation. Coumantaros said these investments have further boosted bilateral ties between the U.S. and Nigeria […]

China, US start talks on trade, economy in Beijing after dispute escalation

China and the United States will hold talks on trade and economic issues in Beijing on Thursday and Friday, marking the first high-level meeting since the bilateral trade dispute escalated in March. The Ministry of Commerce announced on Wednesday that a US delegation led by Treasury Secretary Steven Mnuchin, visiting as US President Donald Trump’s […]

US, China trade dispute to dominate World Bank-IMF Spring Meetings

Fears that the world’s two biggest economies, the US and China, are heading toward a trade war are set to dominate discussions at this week’s spring meetings of the International Monetary Fund and the World Bank. After a decade of ho-hum growth, the global economy is buzzing again. Christine Lagarde, the IMF’s managing director, says […]