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News About World Trade
September 01, 2016
Canada to apply to join China-backed infrastructure bank
Beijing (AFP) Aug 31, 2016
Canada will apply to join the China-backed Asian Infrastructure Investment Bank (AIIB), Ottawa's finance department said Wednesday, in a coup for Beijing after Washington had tried to dissuade US allies from signing up. "Canada is always looking for ways to create hope and opportunity for our middle class as well as for people around the world," Finance Minister Bill Morneau said in a statement issued in Beijing. "Membership in the AIIB is an opportunity to do just that." The Beijing-headqu ... read more

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Chinese tycoon to buy US aluminium maker for $2.33 bn
A Chinese billionaire has agreed to acquire US aluminium maker Aleris Corporation for $2.33 billion including debt, one of his companies said, the latest overseas takeover by a Chinese firm. ... more
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Canada PM Trudeau to mount charm offensive in China: officials
Canadian Prime Minister Justin Trudeau will tour the Great Wall, shoot hoops with retired basketball star Yao Ming and meet with women entrepreneurs when he travels to China next week to bolster trade and diplomatic ties, his office said Friday. ... more
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Iran interested in proposed Chinese-built canal in Nicaragua
Iranian firms want to participate in the construction of a massive canal across Nicaragua that a Chinese company has vowed to build, Iranian Foreign Minister Mohammed Javad Zarif said Tuesday. ... more
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US watchdog clears ChemChina's Syngenta acquisition
A US national security regulator has approved a state-owned China National Chemical Corp.'s planned $43-billion (38 billion-euro) takeover of Swiss pesticide and seed giant Syngenta, the two companies said Monday. ... more
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Samsung buys US luxury home appliance maker Dacor
Samsung Electronics said Thursday it had acquired US luxury appliance maker Dacor, as part of its push towards a full production line of high-end, Internet-connected homeware. ... more
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Taiwan's Hon Hai gets Chinese green light for Sharp deal
Taiwanese tech giant Hon Hai said antitrust authorities in China had approved its takeover of ailing Japanese electronics maker Sharp, clearing the last obstacle to the drawn-out deal. ... more
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China's COSCO completes Piraeus port authority takeover
Chinese shipping giant COSCO on Wednesday said it had completed the acquisition of a majority stake in OLP, the company running the main Greek port of Piraeus. ... more
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Putin says 'painstaking work' needed to rebuild Russia-Turkey trade
Russian President Vladimir Putin said Tuesday that restoring trade ties with Turkey will take time and work, after his first meeting with counterpart Recep Tayyip Erdogan since Ankara shot down a Russian warplane last November. ... more
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Down but not out: fears ease over China's weaker yuan
A year ago on Thursday Chinese authorities stunned global markets by devaluing their yuan currency, raising fears the world's second-largest economy was worse off than thought - but investors are now more sanguine about a weaker "redback". ... more
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Montreal march kicks off World Social Forum
A festive march through downtown Montreal on Tuesday marked the official opening of the World Social Forum (WSF), which is being held for the first time in a G7 nation to try to bridge a north-south divide. ... more
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Bitcoin not money, judge rules in victory for backers
Bitcoin, a Florida judge says, is not real money. Ironically, that could provide a boost to use of the crypto-currency which has remained in the shadows of the financial system. ... more
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Taiwan exports end losing streak with surprise growth
Taiwan exports ended a 17-month losing streak boosted by demand for electronic parts as US tech giant Apple prepares to launch its new iPhone series, the government said Monday. ... more
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EU hits China, Russia with steel anti-dumping duties
The European Union on Thursday hit China and Russia with anti-dumping duties on cold rolled steel imports after EU producers complained they were being forced out of the market. ... more
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China 'cannot tolerate accusations' on Britain investment
China "cannot tolerate" accusations that its investment in a British nuclear plant threatens that country's security, state media said Monday, after London surprisingly delayed the giant project. ... more
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China manufacturing contracts in July: govt
China's manufacturing shrank in July, the government said Monday, blaming the deterioration on rainstorms that wreaked havoc across large swathes of the country. ... more
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Beijing slaps EU, Japan, S. Korea with steel duties
China said Sunday it has started imposing anti-dumping tariffs on certain steel imports from the European Union, Japan and South Korea, as Beijing itself comes under fire for similar trade practices. ... more
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Philippines driving up nickel prices: industry group
Concern over the new Philippine government's mining policies is helping drive global nickel prices to nearly one-year highs, the local industry association said Friday. ... more
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Japan in first half-year trade surplus since Fukushima
Japan on Monday posted its first half-year trade surplus since the 2011 Fukushima nuclear disaster, after the accident sent energy import bills soaring and led to a string of deficits. ... more
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Australian regulator approves logistics giant takeover
The break-up of Australian logistics giant Asciano between local and international suitors cleared a key hurdle Thursday after the nation's corporate regulator approved their Aus$9.05 billion (US$6.78 billion) bid. ... more
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Publishers take on China at Hong Kong book fair
Hong Kong's feisty publishing industry vowed to take on China by selling books critical of Beijing, despite the disappearances of five city booksellers, as a major annual book fair began Wednesday. ... more
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New UK finance minister to talk up trade on China visit
New finance minister Philip Hammond will on Friday meet Chinese business leaders and officials to drum up support for Britain's economy ahead of talks with G20 counterparts in Chengdu. ... more
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EU dodges China market status question
The EU said Wednesday it will no longer debate whether or not China's economy is market driven, but will instead focus on new measures to tackle Chinese dumping and illegal subsidies. ... more
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Back to Basics: The HK start-up taking on fashion giants
Luke Grana arrived in Hong Kong with no contacts, cold-calling 'angel investors' he'd found on LinkedIn armed with only his CV, a business plan, and some big ideas to overhaul fashion. ... more
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EU member states approve US data deal
EU member states on Friday approved a highly-criticised deal with the US intended to curb government spying on the personal internet data of EU citizens. ... more
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