A Chinese national has pleaded guilty to conspiracy to commit economic espionage after he was accused of attempting to steal trade secrets from American agrochemical company Monsanto while residing in the US. Xiang Haitao, 44, “conspired to steal a trade secret” from the company “for the purpose of benefiting a …
Read More »The world’s largest trade pact is a game-changer for China
With the coming of the new year, the Regional Comprehensive Economic Partnership (RCEP) trade agreement came into force. Signed at the end of 2020, and ratified by at least 10 of its parties through 2021, the deal constitutes the largest free trade agreement in history, spanning 30% of the world’s …
Read More »Biden signs limited China trade ban
The Uighur Forced Labor Prevention Act accuses China of keeping “as many as 1.8 million” Uighurs, Kazakhs, Kyrgyz, and members of other Muslim minority groups “in a system of extrajudicial mass internment camps” in the Xinjiang Uighur Autonomous Region. Once the legislation comes into force, all goods that can be …
Read More »Russia’s trade minister shares his experience of driving a Tesla in winter
“The existing energy storage units aren’t yet a fully established technology, particularly in our climatic conditions,” Manturov said at the plenary session of Russia National Day at Expo 2020 Dubai. The international innovations event, which launched on October 1 and runs until March 31, was originally scheduled for 2020-2021, but had to …
Read More »Erdogan ousts ‘Made in Turkey’ to boost trade as lira plummets
All Turkish goods intended for export are now to be labeled “Made in Türkiye” instead of the previously used “Made in Turkey.” “Türkiye” will also be used in correspondence with the country’s foreign partners, including states and organizations. The move comes as part of “the complex step reflecting the rich …
Read More »Prepare for not-so-jolly Christmas tree prices, trade group warns
The American Christmas Tree Association (ACTA), which represents artificial tree producers, has released statements recommending people order their trees early as supply chain issues could lead to long delays, as well as price increases. According to the ACTA, artificial tree shipping costs could triple over last year, thanks to artificial …
Read More »Crypto trade is HARAM, largest Muslim nation’s religious council rules
The Indonesian Ulema Council, known locally as the MUI, issued the anti-crypto fatwa on Thursday, with Asrorun Niam Sholeh, the org’s head of religious decrees, stating they exhibit “elements of uncertainty, wagering and harm,” likening them to gambling, Reuters and Bloomberg reported. Though the MUI’s decrees are not legally binding, …
Read More »Trade turnover between Russia & China tops pre-pandemic figures despite traffic jams at border crossings
Exports to the Russian Federation in 10 months increased 30.6%, to about $52.9 billion. Imports of Russian goods and services to China grew by 31.2%, to $62.76 billion. In October alone, the volume of trade between the two countries reached $13 billion. Trade between Russia and China in the reporting …
Read More »Israeli spyware giant NSO group added to US trade blacklist along with three others
NSO and fellow Israeli spyware firm Candiru have been added to the US’ “entity list,” a trade blacklist that restricts the shipment of US tech to listed companies. The Department of Commerce declared on Wednesday that the designation of both firms was “based on evidence that these entities developed and …
Read More »EU postpones free trade talks with Australia for second time in wake of simmering multibillion-dollar submarine deal row
This time the talks have been delayed until February 2022, Australia’s Trade Minister Dan Tehan said. The talks that were initially planned for October were already postponed earlier this month and were at that time re-scheduled for November. “The European Union have advised the Australian government that Round 12 of …
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