December 18, 2024
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Category : Economy & Business

Economy & Business

China Imposes Economic Sanctions on U.S. Companies

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by admin1077
FALCON POWERS – China has imposed sanctions on three U.S. defense companies due to their arms sales to Taiwan, according to official media in Beijing, coinciding with the inauguration of a new Taiwanese president. The state-run Xinhua news agency reported that the Chinese Ministry of Commerce has banned the U.S.......
Economy & Business

An Egyptian official confirms an increase in Russia’s share in wheat supply to Egypt

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by admin1054
Falcon powers – Akram Hussein al-Shafei, a member of the board of directors of the Egyptian Chamber of Commerce and Industry, said that Russia’s share of Egypt’s wheat imports has risen to 68%, compared to around 55% the previous year. According to him, Russia and Ukraine account for 80% of......
Economy & Business

Putin to push growing Moscow-Beijing trade in China’s northeast

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by admin1083
FALCON POWERS – After sealing pledges of a “new era” of strategic partnership with China’s Xi Jinping, Russian President Vladimir Putin on Friday is set to highlight the growing importance of trade near the Russian border in China’s northeast. Putin ends his two-day, red-carpet visit to China in Harbin in Heilongjiang province, which......
Economy & Business

Statistics Agency: Russia’s GDP Grew 5.4% in Q1

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by admin10146
FALCON POWERS – The Russian government statistics agency said on Friday that the country’s gross domestic product (GDP) rose 5.4% year-on-year in the first quarter, after growing 4.9% in the final quarter of last year. Russia’s GDP had contracted 1.6% in the first quarter of last year. The Economy Ministry......
Economy & Business

Egypt Working to Convince Apple to Manufacture Its Phones in Egypt

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by admin10115
Falcon powers – Egyptian Prime Minister Mostafa Madbouly has revealed that his government is working to convince the American company Apple to manufacture its phones in Egypt. Madbouly added that efforts are underway to persuade Apple to open a factory in Egypt, and that out of the top 5 mobile......
Economy & Business

Foreign Exchange Reserves in Israel Decrease by $5.6 Billion

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by admin1091
Falcon powers – The Central Bank of Israel has announced a decrease in foreign exchange reserves by $5.632 billion as of the end of April compared to the end of March. This decline is primarily attributed to the revaluation of the Israeli Shekel, which led to a reduction in reserves......
Economy & Business

US set to raise tariffs on Chinese electric vehicles next week

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by admin10145
FALCON POWERS – US President Joe Biden is set to announce new China tariffs next week, including an increase in levies on electric vehicle imports, according to media reports. The levy on Chinese EVs is set to quadruple, the Wall Street Journal reported. US trade officials are expected to raise the tariff rate to roughly 100 per cent,......
Economy & Business

Gold Extends Gains as Jobs Data Boosts Bet on U.S. Interest Rate Cut

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by admin10112
FALCON POWERS – Gold prices jumped on Friday and are on track to record their best weekly performance supported by the momentum gained from weak U.S. jobs data this week, which has strengthened expectations of an interest rate cut by the Federal Reserve. As of 14:23 GMT, spot gold rose......