Rogers trade up

Share to Twitter Share to Linkedin More than eighty percent of eligible voters turned out for the Philippines Presidential Election, and it looks a landslide victory for Ferdinand (Bongbong) Marcos Jr. While they are finishing the vote count, several media critics are already trying to punch holes in Bongbong’s stunning landslide victory. Some have pointed to the excesses of his father’s regime (of 36 years ago), while others have targeted his 92-year-old mother (Imelda). Some allege a closer friendship to China, but few have spent time examining the erosion of Philippine love for America – an important analysis for a former USA colony - where the average citizens really do love America. In bygone days, Capitol Hill pushed for closer ties with Manila but, sadly, the former pro-Philippine hawks have long since vacated the building. With Bongbong now on the rise, the U.S. Government is taking a fresh look at ways to improve the relationship. As everyone … [Read more...] about Retail’s Worry: As Philippines Trade Ramps Up – Will Bongbong Marcos Question America’s Love?

Representational Image. Members of the European Parliament take part in a voting session at the European Parliament in Strasbourg, France, February 7, 2018. Picture taken with a fisheye lens. (Reuters) A delegation of senior parliamentarians from the European Union (EU) that is in New Delhi is likely to explore an early-harvest trade deal with India in an attempt to break the deadlock over a proposed mega trade and investment agreement. Recent early-harvest agreements that India signed with Australia and the United Arab Emirates have generated much interest in the EU and politicians from the bloc are keen to work out a similar deal, people familiar with the development said. Proposed in 2007, the Broad-based Trade and Investment Agreement (BTIA) was the subject of 16 formal rounds of talks until 2013 that have remained inconclusive. An early-harvest trade deal is one in which both parties sign off on a set of relatively easily achievable deliverables. Such pacts target … [Read more...] about Exclusive| EU MPs in India to explore early-harvest trade deal

Representative Image| A hydropower plant being constructed along the Bhote Koshi River in Nepal. Image by Jonas Gratzer for Mongabay. The New Development Bank (NDB) has reached out to India Exim Bank with an offer to co-finance trade infrastructure across the world. While India remains a stakeholder in the multilateral NDB, any prospective partnership will mark the first time that it partners with China, considered to be a major global rival in all forms of multilateral finance, including export credit, and project exports in particular. "I invite India Exim Bank to identify some priority projects, in trade enabled infrastructure, which involves both the elements of physical infrastructure as well as of technology," NDB President Marcos Prado Troyjo said. Troyjo was virtually attending a summit on project exports organized by India Exim Bank on May 5. Formerly referred to as the BRICS Development Bank, the multilateral development bank was established by five nations … [Read more...] about New Development Bank seeks to co-finance trade infrastructure projects with India Exim Bank

(File image: EAM S Jaishankar with China's Wang Yi) Chinese Foreign Minister Wang Yi’s outreach by offering to visit India was the strongest signal to thaw ties, as the two countries find themselves on the same page over resisting United States pressure on the Russian intervention in Ukraine and non-US Dollar oil trade. Europe, West Asia, and the Asia-Pacific are witnessing rapidly shifting alliances over what is perceived as unilateral US pressure to take sides in its geopolitical rivalries. Wang Yi is scheduled to visit India for two days on March 24-25 after attending the Organisation of Islamic Countries (OIC) foreign minister’s meeting in Islamabad. Cracks began appearing after External Affairs Minister S Jaishankar evidently pushed back against joining the US, Australia, and Japan in taking a hard line on Russia in the February 11 Quad ministers meeting. This was followed by India abstaining in votes in the United Nations (UN) on the Ukraine crisis. This inspired … [Read more...] about India, China on the same page over Russia, non-dollar oil trade

Representative Image.(Courtesy : AP) India will soon be sending trade delegations to at least nine wheat importing nations to explore the possibilities of boosting wheat exports. The move comes amid widespread loss of yield in major wheat growing states, and low response to public procurement by farmers who continue to sell at much higher prices to traders. The Centre will send trade delegations to Morocco, Tunisia, Indonesia, Philippines, Thailand, Vietnam, Turkey, Algeria, and Lebanon to promote Indian wheat , the Commerce and Industry Ministry said on May 12. The move is part of the government's efforts to export 10 million tonnes of wheat in 2022-23, amid rising global demand, it said. Not more than 10 days after the Ukraine crisis began, the Centre began discussions with various countries, including Egypt, Turkey, China, Bosnia, Sudan, Nigeria and Iran on commencing wheat exports. Initial shipments have also begun to some of these nations. The Agricultural and … [Read more...] about India to send trade delegations to 9 countries to boost wheat exports

Share to Twitter Share to Linkedin Donald Trump’s battle against China has taken on a new dimension. The target is ByteDance, which is the parent of the social app TikTok and the one used mostly by teenagers who post short video clips. It’s the latest iteration of the trade dispute between the two countries and one that got started in early 2018 with tariffs on Chinese solar panel makers. But the fight has escalated to the point where the countries’ 40-year friendship has deteriorated. Just this week, the World Trade Organization said that U.S. tariffs imposed on China have violated global trading rules. Specifically, the three-member panel said that the duties assessed were unfair and disproportionate. The Trump administration will no doubt appeal the decision — a move that would likely become moot if Joe Biden is elected U.S. president. Trade wars don’t work. For every action, there’s an equal and opposite reaction. Businesses will often pass those … [Read more...] about How The TicTok Controversy Could Inflame The Chinese Trade War And U.S. LNG Markets

- A + A (May 16): The rupiah risks weakening to its lowest level in almost two years as Indonesia’s ban on palm oil exports adds to headwinds from interest rate hikes in the US. The currency fell to a one-year low last week, despite an assurance from the central bank that it would stabilize the currency. Technical support at its April 2021 low is now in danger and a breach of this level would pave the way for a decline to its September 2020 low. Investors are watching for further export restrictions and rising demand for the dollar, said Divya Devesh, head of Asean and South-Asia FX research at Standard Chartered Bank in Singapore. He sees the rupiah depreciating to 14,800 to the greenback by the end of June, from 14,613 on Friday. Palm oil accounted for 1.5% of Indonesia’s gross domestic product in 2021 and the prohibition on shipments could cut US$2 billion from the nation’s exports for each month it stays in place, according to estimates from Goldman Sachs … [Read more...] about Rupiah nears breach of support with palm oil ban hurting trade

Saudi Arabia's Minister of Investment, Khalid Abdulaziz Al-Falih, left, shakes hands with Sanan Angubolkul, chairman of the Thai Chamber of Commerce. The government is planning to import fertilisers from Saudi Arabia to ensure an adequate supply during the peak planting season, amid shortages in the wake of the Russia-Ukraine conflict, according to the Ministry of Foreign Affairs (MFA). Securing a deal on fertilisers was among the trade objectives of a Thai delegation led by Deputy Prime Minister and MFA minister Don Pramudwinai last week. The delegation met with Khalid Abdulaziz Al-Falih, Minister of Investment of the Kingdom of Saudi Arabia, in a bid to further restore economic relations. It was the first time in 32 years Thai dignitaries had set foot in Saudi Arabia for formal talks. The visit is part of efforts to rebuild investment opportunities and forge joint ventures after the restoration of full diplomatic ties between the two countries was announced after Prime … [Read more...] about Fresh start seeds new trade deals

Share to Twitter Share to Linkedin Charif Souki, 2013 (Photo by Michael Thad Carter, for Forbes). There’s a new way for investors to bet on the miracle of American natural gas and the genius of Charif Souki. As of last week Souki’s Tellurian Investments completed a reverse takeover of publicly traded Magellan Petroleum. The company has been renamed Tellurian, has a new ticker symbol (TELL), and big plans to build a new liquefied natural gas export facility in Calcasieu Parish, La. The project, called Driftwood LNG, will cost around $12 billion, and have the capacity to export 26 million tons of LNG per year, the equivalent of about 3.6 billion cubic feet of gas per day. Construction hasn’t started yet, but Souki expects Driftwood to be operational in late 2022. To get through engineering and permitting, Souki has already raised about $200 million from French oil giant Total, and another $25 million from General Electric. He doesn’t expect any … [Read more...] about LNG Guru Charif Souki Is Back With Publicly Traded Tellurian

Stocks fell, with the three major U.S. indexes poised to close lower for the week, as major banks kicked off the fourth quarter earnings season with mixed results and December retail sales were lower than expected. Key Takeways Stocks are lower with the Dow, S&P 500, and Nasdaq poised to drop for the week. Retail and food sales sank 1.9% in December, the biggest drop in 10 months. Banks reported mixed earnings, and JPMorgan is the worst-performing Dow and S&P 500 stock after it reported trading revenue fell. Banks and Retail Stocks Fall, Energy Gains The Dow is down more than 300 points, nearly a full percent, and the S&P 500 is about 0.5% lower. The Nasdaq's earlier gains have reversed and that index is down about 0.2%. JPMorgan Chase & Co. ( JPM ) is the worst-performing stock in both the Dow and S&P 500 after reporting a fourth-quarter loss, and net interest margin that came in below analysts' consensus estimates. Shares of … [Read more...] about Stocks Fall as Bank Shares Drop and December Retail Disappoints