trade
Bari (Italy) (AFP) - G7 leaders turn their attention to China on Friday on the second day of an Italy summit, with a focus on how to protect their industries while avoiding an outright trade war with Beijing. Fair trade with the world's second-largest economy, notably on green technology, will be discussed by US President Joe Biden and the leaders of Japan, France, Germany, Italy, Canada and Britain in Puglia. The Group of Seven rich democracies will also be seeking a common response to China's alleged support of Russia's military expansion, which Washington says is fuelling the war in Ukraine...
AFP
Exports of German wines rose 9% on the year in the first quarter to €92 million ($99 million) partly on the back of strong demand from China, the German Wine Institute reported on Thursday. The increase measured by quantity also came in at 9%, with 283,000 hectolitres of German wine being sold abroad. Exports to China rose 47% by value to €5.4 million and 49% by quantity to 10,000 hectolitres. Double-digit increases were also recorded for Denmark, Japan, the Netherlands and Poland. Turnover over the whole of 2023 rose by 4% to €384 million compared with the previous year, largely as a result o...
DPA International
Exports of German wines rose 9% on the year in the first quarter to €92 million ($99 million) partly on the back of strong demand from China, the German Wine Institute reported on Thursday. The increase measured by quantity also came in at 9%, with 283,000 hectolitres of German wine being sold abroad. Exports to China rose 47% by value to €5.4 million and 49% by quantity to 10,000 hectolitres. Double-digit increases were also recorded for Denmark, Japan, the Netherlands and Poland. Turnover over the whole of 2023 rose by 4% to €384 million compared with the previous year, largely as a result o...
DPA
Exports of German wines rose 9% on the year in the first quarter to €92 million ($99 million) partly on the back of strong demand from China, the German Wine Institute reported on Thursday. The increase measured by quantity also came in at 9%, with 283,000 hectolitres of German wine being sold abroad. Exports to China rose 47% by value to €5.4 million and 49% by quantity to 10,000 hectolitres. Double-digit increases were also recorded for Denmark, Japan, the Netherlands and Poland. Turnover over the whole of 2023 rose by 4% to €384 million compared with the previous year, largely as a result o...
DPA Breaking News
Sports and outdoor gear retailers in Germany have enjoyed a decade-long boom in business, according to official data. Sales in sports and camping stores increased by 41.5% from 2013 to 2023, even after adjusting for inflation, a report from Germany's Federal Statistical Office said on Wednesday. That significantly outpaced sales growth for the physical retail sector as a whole, where sales grew by 9.1% over the same period. Almost half of the sports equipment imported into Germany last year came from China, followed at a considerable distance by the Czech Republic (5.5%) and the Unite States (...
DPA Breaking News
Trade union verdi has called on workers at the northern German port of Hamburg to go on strike on Friday, after ongoing negotiations in a wage dispute failed to yield results. Verdi is in talks with the association of Central Association of German Seaport Operators on better wages for some 6,000 employees at the country's largest seaport, but a second round of negotiations on Thursday did not produce any results, according to the union. "The offer presented by the employers is completely inadequate," said verdi negotiator Maren Ulbrich. In order to ramp up pressure, the union called on dockwor...
DPA Breaking News
Washington (AFP) - The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday. The overall gap was $74.6 billion, growing from March's revised $68.6 billion figure, said the Commerce Department. This was the largest deficit since October 2022, according to official data. US consumption has been more resilient than anticipated even as the central bank rapidly hiked interest rates to dampen demand -- and this has helped to support imports. But with weaker glo...
AFP
Chinese security equipment manufacturer Nuctech is suing the European Commission over raids on its offices in the Netherlands and Poland at the end of April, claiming there is no proof that the company has received foreign subsidies that distort competition in the single market. "Nuctech has appealed to the General Court of the EU against the European Commission's decision to inspect Nuctech's offices on suspicion of breaching the EU's Foreign Subsidies Regulation," the partly state-owned company said in a statement on Tuesday (4 June). "Nuctech has also requested the General Court of the EU t...
Euronews (English)
A battle sabre believed to have been commissioned by Napoleon Bonaparte and kept in Germany for over 200 years is to be auctioned in Paris. The richly decorated steel and gold sabre, which will go under the hammer at the Drouot auction house on Thursday, is estimated to be worth between €500,000 and €800,000 ($540,000-$870,000). According to the auction house, the sabre was probably commissioned by Napoleon for his brother-in-law, Joachim Murat, a marshal and grand admiral. The Napoleonic-era sabre, with its special decoration and gold fittings, is considered very rare. Only one other similar ...
DPA Breaking News
Western sanctions against Russia have not impacted trade outside of the West, said Hamad Buamim, chair of the Dubai Multi Commodities Center, in comments to the Financial Times published on May 29. Despite more than a dozen rounds of EU sanctions against Russia and associated measures from the U.S. and other Western partners, Russia's economy has remained resilient. While Russia's business ties with the West have shrunk, other countries outside of Europe have increasingly taken advantage of the opportunities. Throughout Russia's full-scale war, the United Arab Emirates (UAE) has maintained eco...
Kyiv Independent
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