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Tag Archives: trade:

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Indonesia to set up its own bullion bank to boost domestic gold trade

Indonesian authorities are currently holding consultations with officials from the central bank and representatives of the mining sector. “Our exports have gone to transit countries because they have better gold trading systems, either in the form of bullion banks or better bourses than ours,” Lutfi said as quoted by Bloomberg. …

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Russia-China trade turnover soars nearly 25% since beginning of 2021

According to the data, the total volume of trade between the two countries during the period amounted to $50.65 billion, marking year-on-year growth of 23.6%. In May alone, Russia-China trade turnover reached $10.449 billion. Exports of Chinese goods to Russia increased by 35.3% to $22.921 billion, while imports of Russian …

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Trade with China is key to Europe’s economic recovery, so why is the EU harming that trade with pointless political posturing?

Last week the European Commissioners announced a legislative proposal to make EU foreign-investment rules more stringent and address the alleged trade harm from foreign subsidies.  The move, which Commissioner for the Internal Market Thierry Breton has claimed would ensure that “no one can undermine the level playing field and Europe’s …

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Russian focus on de-dollarization means international trade increasingly conducted in national currencies, top MP Volodin says

That’s according to State Duma Speaker Vyacheslav Volodin, who noted that trade is being gradually transitioned away from the traditionally favored reserve currencies towards the domestic denominations of the countries involved in bilateral deals. “Russia is consistently moving away from dependence on the dollar,” he said, noting specific examples of …

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China outpaces US as Europe’s largest trade partner in 2020

According to the data published by the European Union’s statistics office, Eurostat, the 27-nation bloc’s imports from China hit €383.5 billion ($465.6 billion) in 2020, increasing by 5.6 percent year-on-year. Exports were up 2.2 percent to reach €202.5 billion ($245.9 billion). At the same time, trade with the US – …

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