25 Jul 2016

UK explores multi-billion pound free trade deal with China

Chancellor Philip Hammond insists EU is not in “punishment mode” over Brexit vote and tells the BBC he wants talks on developing a free trade relationship with China. Chinese state media reported earlier in the month that the Chinese Ministry of Commerce wants to do a UK free trade deal. Mr Hammond

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25 Jul 2016

Japan Sees Trade Surplus in June as Imports Drop 19 Percent

Japan reports it posted a better-than-expected trade surplus in June, as imports fell nearly 19 percent, outpacing a more modest decline in exports. Source: Japan Sees Trade Surplus in June as Imports Drop 19 Percent

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21 Jul 2016

EU vows to toughen up trade defences against cheap Chinese imports

The European commission promised “faster and firmer” action against foreign producers flooding world markets with subsidised goods, dashing China’s hopes of gaining “market economy status” under existing trade rules. Source: EU vows to toughen up trade defences against cheap Chinese imports

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15 Jul 2016

Yen slides as solid Chinese data bolsters risk sentiment

The yen fell broadly and hit a three-week low versus the dollar after China’s second-quarter gross domestic product and June activity data pointed to stabilization in China’s economy and bolstered risk sentiment. Source: Yen slides as solid Chinese data bolsters risk sentiment

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11 Jul 2016

Demand for U.S. arms exports set to keep growing, official says

“International demand for U.S. weapons systems is expected to continue growing in coming years, a senior U.S. Air Force official said on Sunday, citing strong interest in unmanned systems, munitions and fighter jets.” Source: Demand for U.S. arms exports set to keep growing, official says | Reuters

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10 Jul 2016

Child labor doubles in Iraq as violence, displacement hit incomes

“More than half a million Iraqi children are estimated to be at work rather than at school as violence and displacement hurt the income of millions of families, according to the United Nations childrens’ agency UNICEF.” Source: Child labor doubles in Iraq as violence, displacement hit incomes | Reuters

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10 Jul 2016

Brazil could sell Sao Paulo and Rio airports, president tells paper

“Brazil’s government will consider selling airports in Sao Paulo and Rio to help to reduce a large fiscal deficit next year, interim President Michel Temer told the Folha de S.Paulo newspaper on Sunday.” Source: Brazil could sell Sao Paulo and Rio airports, president tells paper | Reuters

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10 Jul 2016

Bitcoin mining just became less rewarding, on purpose

“If you have computers chugging away as bitcoin mining machines, don’t be surprised if your output just fell through the floor. Reuters notes that code built into the digital currency system has cut the mining reward in half as of July 9th. Where there were previously 25 bitcoins (roughly $16,000)

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08 Jul 2016

Libya oil guards back NOC state oil company, preparing to reopen fields

“Libya’s oil guard brigades, which control Ras Lanuf and Es Sider, two major export terminals closed since 2014, are working with the unity government’s state oil company, NOC, and preparing to reopen fields to pump crude again, a spokesman said on Thursday.” Source: Libya oil guards back NOC state oil

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08 Jul 2016

World faces deflation shock as China devalues yuan at accelerating pace

“China has abandoned a solemn pledge to keep its exchange rate stable and is carrying out a systematic devaluation of the yuan, sending a powerful deflationary impulse through a global economy already caught in a 1930s trap.” Source: World faces deflation shock as China devalues yuan at accelerating pace

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