trade

Standard Bank’s Rajesh Ramsundhar on Africa’s Growth in Payments and Trade

Produced in partnership with Standard Bank, this video features Rajesh Ramsundhar, Head of Investor Services & Financial Institutions, Corporate and Investment Banking at Standard Bank, speaking with Global Finance at Sibos.

Rajesh Ramsundhar, Head of Investor Services & Financial Institutions, Corporate and Investment Banking at Standard Bank, speaks with Global Finance at Sibos. Content produced in partnership with Standard Bank.

Ramsundhar explains why Standard Bank is firmly bullish on Africa’s long-term growth runway; how payments and trade sit as the bank’s core transaction banking priorities; and how its technology agenda — building on the bank’s legacy of innovation, deploying technology to enter new markets, and applying data and AI to sharpen efficiency and client service — is positioning the bank for what comes next.

Source link

Jordan-Israel border becomes new hotspot for sophisticated drug trade | Crime News

Amman, Jordan – Jordanians fear the country’s border with Israel is turning into a major drug-smuggling route amid a surge in high-tech operations by gangs using drones and helium-filled balloons.

Organised networks active in southern Israel’s Negev Desert have links to groups in Jordan and the Sinai Peninsula in Egypt, operating along one of the most heavily surveilled borders in the world, with Jordanian authorities increasingly concerned about the implications this could have for the kingdom.

Recommended Stories

list of 3 itemsend of list

This escalation coincides with changes in the regional drug trade, particularly after the fall of Syrian President Bashar al-Assad in late 2024.

Elements in his regime were linked to the manufacturing and distribution of Captagon, an illegal amphetamine stimulant.

Syria became a hub for the distribution of Captagon to the Gulf, with Jordan a transit point and market for the drug. The Royal Jordanian Air Force carried out periodic strikes on drug manufacturing and smuggling points inside Syria, highlighting the huge security concerns Jordan had about the trade.

Since the collapse of the Assad government and the establishment of a new authority that views the Captagon trade as a national security issue, there has been a decrease in the drug trade from Syria into Jordan.

Although Druze militias in the Syrian province of Suwayda allegedly linked to Israel have been accused of continuing the drug trade, Jordanian security forces are increasingly focused on the Jordan-Israel border.

The use of quadcopter drones and balloons is reportedly among the new tactics used by gangs in Israel to smuggle hashish, crystal meth, and amphetamines into Jordan.

Jordanian security forces are said to be increasingly unhappy with the scale of the drug smuggling operations and have accused the Israeli army of not taking the issue seriously.

Initial data from Jordanian forces recorded 17 interception operations linked to drones during the first half of 2026 in Jordan’s southwestern border area with Israel.

They also recorded 231 smuggling and infiltration attempts and downed 56 drones across various borders during the same period.

Interior Minister Mazen al-Faraya told Al Jazeera that Jordanian forces were continuing efforts to prevent drugs from being smuggled into the kingdom. But they are evidently facing more complex activities by drug dealers.

“There is an increase in drug smuggling operations from Israel to Jordan using drones,” he said. “The number of seized drug cases during the current year reached 15,342 cases. Trafficking cases constituted about 28 percent of them, compared with 72 percent for usage cases.”

Israeli media reports indicate that gangs active in the Negev Desert are behind some of the smuggling operations into Jordan, where drugs can fetch higher profits.

There are estimates that 1kg of hashish can sell for approximately 7,500 pounds sterling (almost $10,000), according to the British newspaper The Telegraph, which recently uncovered the drug smugglers’ latest operations. Israeli security services believe that the price of hashish in Jordan is about 15 times higher than in Israel.

Due to widespread disenfranchisement and poverty, elements within Palestinian communities in Israel have been linked to the drug trade, according to reports. Multiple sources have accused Israel of allowing Palestinian towns and cities to become hotbeds of crime to create divisions and prevent calls for greater rights.

Ammar al-Qudah, a member of the Jordanian Senate and retired major-general in the Public Security Directorate, claimed that organised gangs in the Negev had obtained more than 1,000 drones that were originally used for agricultural and security purposes.

“The smuggling networks are linked to other gangs in Jordan, Sinai and the Negev, and rely on a route starting from Sinai, passing through the Negev, and reaching Wadi Araba, in addition to other routes including the Lebanese border with Israel and the Galilee region towards Syria,” he told Al Jazeera.

They are also using a range of sophisticated technology to bypass security on both sides of the border. This includes the use of helium-filled balloons equipped with GPS devices, drones capable of carrying about 50kg of narcotics, including black hashish and crystal meth, al-Qudah said.

He warned that a portion of the black hashish and crystal meth being smuggled into the kingdom is being sold domestically, with the rest going to other markets in the region.

With such high-tech operations, there are accusations that members of Israeli forces know about drug gang activities, based on past experiences in Egypt.

One West Point report said current and former trackers in the Israeli military in the Negev are being recruited by traffickers to provide intelligence to facilitate their operations in Egypt. In 2012, a number of Israeli service personnel were arrested on suspicion of collaborating with drug smugglers across the Egyptian border.

While there is no proof that the same situation is being repeated in Jordan, many have questioned how drones and balloons carrying drugs could cross a heavily surveilled and guarded Israeli border into Jordan.

Jordan’s counternarcotics department, in cooperation with the armed forces, has tracked such cases and made arrests.

Retired Brigadier-General Daifallah al-Daboubi, a strategic and military expert, said Jordan is witnessing a “reverse drug migration”, starting from the Sinai Peninsula, passing through the Negev region, and reaching the kingdom.

“Groups active in Beersheba and the Negev possess great financial capabilities and use advanced smuggling methods, most notably drones,” he said.

The Israeli army’s preoccupation with wars in Gaza, Lebanon and the occupied Golan Heights has provided smugglers with room to manoeuvre on the Jordan border, he added. But he ruled out the direct involvement of the Israeli political or military leadership in any drug smuggling.

Steps taken by Israel to boost security on its eastern border include the establishment of the 96th Division, which began operating in the Jordan Valley in 2025, and the construction of a controversial security barrier with Jordan.

But none of these measures appears to be designed to prevent drugs from leaving Israel; instead, they appear to be designed to prevent weapons and other illicit merchandise from entering the country from Jordan.

Source link

Why Marco Rubio’s visit to Mumbai has ruffled feathers in India | International Trade News

United States Secretary of State Marco Rubio is to visit India in the coming week, but he will not set foot in the capital, New Delhi.

Instead, on Monday, Rubio will hold talks with Indian External Affairs Minister Subrahmanyam Jaishankar in Mumbai, India’s financial hub, and then visit an oil refinery in Jamnagar in the western state of Gujarat, according to a statement from the US Department of State.

Recommended Stories

list of 4 itemsend of list

His itinerary sparked a political storm after the US ambassador to India said Washington expected Jaishankar to travel to meet Rubio, prompting opposition leaders to accuse the government of allowing India’s top diplomat to be “summoned” on home soil.

The spat comes as relations between the two countries are strained over trade, tariffs and India’s purchases of Russian oil.

So why is Rubio avoiding New Delhi, and why has it caused such upset? Here’s what you need to know:

What is Rubio doing in India?

He plans to discuss trade, energy and investment.

Rubio is arriving on Sunday from Samarkand, Uzbekistan, where he has been meeting with five Central Asian states at the C5+1 summit.

In India, he is due to meet senior officials to discuss the US-India strategic partnership and energy cooperation and hold talks with business leaders, the State Department said.

Indian Ministry of External Affairs spokesperson Randhir Jaiswal appeared to confirm the agenda, stating on Friday that the Mumbai talks would cover energy, trade and investment, defence, and critical and emerging technologies.

In Jamnagar, Rubio is to visit the world’s largest single-site refinery, operated by billionaire Mukesh Ambani’s Reliance Industries, and attend a reception hosted by the Ambani family, according to The Hindu newspaper.

Rubio and his wife, Jeanette Rubio, appear with Ambassador to India Sergio Gor, also the US special envoy for South and Central Asia, at the Taj Mahal in Agra, India, on May 25, 2026
Rubio and his wife, Jeanette Rubio, appear with Ambassador to India Sergio Gor, also the US special envoy for South and Central Asia, at the Taj Mahal in Agra, India, on May 25, 2026 [Julia Demaree Nikhinson/Pool via Reuters]

Why isn’t Rubio going to New Delhi?

No official reason has been given.

Rubio was in the Indian capital in May for a meeting of foreign ministers of countries in the Quad, a group consisting of the US, India, Japan and Australia.

The State Department has framed his upcoming trip around energy and investment, and the second stop on Rubio’s India visit, Jamnagar, is one of the world’s most important energy hubs.

The visit also comes as fuel prices bite in the US before next month’s midterm elections.

Reliance, an energy, retail and telecommunications conglomerate, also sits at the centre of Washington’s wider oil diplomacy.

Business Standard, an Indian financial daily, said the Jamnagar stop was significant because Reliance is the biggest buyer of Venezuelan crude oil besides the US at a time when Washington has been urging India to buy more.

Since US forces seized Venezuelan President Nicolas Maduro in January and took essential control of the country’s oil industry, the US government has marketed Venezuelan oil to buyers abroad.

Reliance is also investing in a new refinery in Texas, the first to be built in the US in 50 years, which Trump hailed as a $300bn deal when he announced it in March, Business Standard reported.

Villagers sit in the lawns outside the Jamnagar Refinery run by the Indian business conglomerate Reliance Industries, in Jamnagar, India, Wednesday, April 9, 2025. (AP Photo/Manish Swarup)
Villagers sit outside the Jamnagar refinery, run by the Indian business conglomerate Reliance Industries, in Jamnagar, India [File: Manish Swarup/AP]

What did the US ambassador say, and why has it caused upset?

Speaking at the Bloomberg New Economy Forum in New Delhi on Thursday, US Ambassador to India Sergio Gor said Rubio would meet Indian government officials in Mumbai, and Washington “expected” Jaishankar and others from New Delhi to travel there to see him.

Earlier in the week, however, Jaiswal had not confirmed the trip or explained why Rubio was skipping New Delhi, telling reporters the Indian government would announce it “at the appropriate time”, The Hindu newspaper reported.

Jairam Ramesh, a general secretary of the opposition Indian National Congress party, wrote on X that the ambassador’s statement was “quite extraordinary”.

Rahul Gandhi, leader of the opposition in parliament’s lower house, also took to X to comment, writing on Friday that Rubio had “summoned his employee to Mumbai”.

Congress MP Pawan Khera went further.

“A foreign government summoning India’s External Affairs Minister on Indian soil is a new low, even by the Modi Government’s standards,” he wrote on X, referring to Prime Minister Narendra Modi.

Why are US-India relations strained?

Mainly because of Trump’s tariffs and Russian oil.

In August last year after a round of trade talks broke down, the US hit most Indian goods with a 50 percent tariff. Under a framework the two sides agreed in February, that rate fell to 18 percent, however.

Since then, negotiations have stalled.

This month, Indian Finance Minister Nirmala Sitharaman said the talks had “plateaued”, according to The Hindu.

On Thursday, Trade Minister Piyush Goyal said the “first tranche” of a deal was in its final stages but India would not sign until its exporters had an edge over rivals such as Bangladesh, Vietnam and Indonesia, according to the Reuters news agency.

Other points of friction have emerged.

Last week, US Labor Secretary Keith Sonderling announced that his department was suspending eight companies – including the Indian IT giants Infosys, Tata Consultancy Services, Wipro and HCL – from a labour certification scheme that is a key step for employers seeking green cards for their foreign staff.

Sameer Lalwani, a senior fellow in the South Asia Program at the Carnegie Endowment for International Peace, wrote this week that Indian public opinion of the US has hit a record low, citing US engagement with Pakistan and the US-Israel war on Iran, which he said had pushed India back towards Russian oil.

Despite that, he argued, defence and technology cooperation has quietly deepened, and bilateral trade grew by almost 12 percent in 2025 to nearly $240bn.

In his view, “perceptions of the political relationship have deteriorated faster than its strategic foundations.”

A sanctions law had threatened to make matters worse.

Last month, Trump signed the Lindsey O Graham Sanctioning Russia and Iran Act, which could impose tariffs of up to 100 percent on goods from the five largest importers of Russian oil or gas.

India, one of the world’s biggest buyers of Russian oil, had warned Washington that new tariffs could hurt bilateral ties. Trump signed an executive order seeking to waive the sanctions on Friday as he tries to ease high oil prices before the November 3 US elections.

Source link

China-North Korea border bridge may do little to spur trade, experts say | International Trade News

As China and North Korea cut the ribbon on New Yalu River Bridge this week, officials described the new border crossing in momentous terms.

Chinese Premier Li Qiang said the 3km (1.9-mile) bridge, which links China’s Dandong and North Korea’s Sinuiju, would “vigorously promote” trade and “strengthen emotional bonds”.

Recommended Stories

list of 4 itemsend of list

North Korean Premier Pak Thae-song expressed his belief that the crossing would “accelerate the advance for the prosperity of the two countries” and “add fresh vigour” to their economic cooperation.

Analysts on China-North Korea ties are much more circumspect.

While the bridge is a concrete symbol of China and North Korea’s efforts to revitalise relations that have waned from their Cold War-era peak, the prospects for trade are hindered by obstacles ranging from international sanctions to a North Korean leadership that prioritises security above all else, experts say.

“It reflects China’s renewed effort to strengthen its relationship with North Korea at a time of changing regional alignments,” Phillip Park, a professor at the University of North Korean Studies in Seoul, South Korea, told Al Jazeera.

“But whether this leads to substantially deeper economic integration, greater North Korean dependence, or a significant shift in Pyongyang’s strategic orientation remains an open question.

“The bridge could facilitate trade and logistics, but it does not remove international sanctions,” Park added.

A Chinese maritime patrol vessel travels along the Yalu River as trucks adorned with Chinese flags cross the newly opened New Yalu River Bridge into North Korea’s Sinuiju from China’s Dandong New Zone, as seen from Dandong, Liaoning province, China, on October 15, 2026
A Chinese maritime patrol vessel travels along the Yalu River as trucks adorned with Chinese flags cross the newly opened New Yalu River Bridge into North Korea’s Sinuiju from China’s Dandong New Zone, as seen from Dandong, Liaoning province, China, on October 15, 2026 [Florence Lo/Reuters]

China, whose troops fought alongside Pyongyang in the 1950-53 Korean War, has long been North Korea’s most crucial economic benefactor.

China accounts for as much as 95 percent of official trade with the secretive country, which is among the world’s most diplomatically and economically isolated states.

Before the four-lane New Yalu River Bridge officially opened on Thursday, road and rail freight between Dandong and Sinuiju, the main route for China-North Korea trade, travelled exclusively via the ageing Sino-Korean Friendship Bridge.

Opened in 1943, the bridge, which has a single-lane road and a rail track, can only carry vehicles weighing a maximum of 20 tonnes.

Jae-woo Joo, a professor of Chinese foreign policy at Kyung Hee University in Seoul, said the new bridge could “tremendously” boost trade between the sides, including the transfer of components banned under sanctions against Pyongyang’s nuclear and missile programmes.

“It is therefore really significant to open this bridge with China,” Joo told Al Jazeera.

After coming under strain from North Korea’s nuclear weapons tests in the mid-2000s, Beijing-Pyongyang ties have warmed under Chinese President Xi Jinping and North Korean leader Kim Jong Un.

At Xi and Kim’s most recent meeting in June, their seventh summit since 2018, the leaders pledged to enhance cooperation in areas spanning trade, defence, agriculture, law, science and technology.

Analysts have, in part, cast Beijing’s deepening engagement with Pyongyang as a response to the latter’s growing ties with Moscow, which have included the deployment of thousands of North Korean troops to the front lines of Russia’s war in Ukraine.

Last month, North Korean and Russian officials opened the first road bridge linking their countries across the Tumen River.

Chinese President Xi Jinping walks with North Korean leader Kim Jong Un, right, to a reception following a military parade to commemorate the 80th anniversary of Japan’s World War II surrender held in front of Tiananmen Gate in Beijing, China, on September 3, 2025
Chinese President Xi Jinping walks with North Korean leader Kim Jong Un, right, to a reception following a military parade to commemorate the 80th anniversary of Japan’s World War II surrender held in front of Tiananmen Gate in Beijing, China, on September 3, 2025 [Mahesh Kumar/AP]

North Korea and China’s two-way trade grew 25 percent in 2025 to reach $2.74bn, according to figures from China’s General Administration of Customs.

Bilateral trade has continued to grow in 2026, jumping nearly 20 percent to reach $1.5bn in the first half of the year, putting it on track to reach its highest volumes since the COVID-19 pandemic.

But while growing, trade remains relatively minuscule in the context of global commerce.

With China’s overall trade hitting $6.36 trillion in 2025, North Korea’s contribution to the total was a little more than 0.04 percent.

Official trade between the neighbours also remains substantially below its 2010s heyday.

Trade hovered around $5-6bn throughout much of the decade, peaking at $6.45bn in 2013.

Economists have offered explanations for the slowdown that range from tightened sanctions to China’s waning reliance on imports amid its efforts to boost economic self-reliance.

Christopher Green, a senior consultant for the Korean Peninsula at International Crisis Group, said the new border crossing’s significance should not be overstated, considering that China-North Korea trade “is fundamentally driven by politics”.

“Lack of cross-border transit routes is not the main obstacle,” Green told Al Jazeera.

“If the bridge opening signifies a political desire on both sides to give political cover to rising trade volumes, then a boost to trade should follow,” Green said, describing ties up until now as “steady-as-she-goes” economic engagement.

“Time will tell. But the key is the politics of national security, not economics.”

Vehicles drive through a new bridge linking China and North Korea as it opened in North Phyongan province, North Korea, on October 15, 2026
Vehicles drive through a new bridge linking China and North Korea as it opened in North Phyongan province, North Korea, on October 15, 2026 [Cha Song Ho/AP]

As much as officials have hailed the New Yalu River Bridge as a reflection of Chinese-North Korean cooperation, the project had a long and torturous road to completion.

Construction began in 2011 and was finished on the Chinese side in 2014.

But North Korean authorities only completed roads and customs facilities on their side of the river this year following repeated pauses in construction amid tensions with Beijing.

“The 12-year delay certainly suggests that economic cooperation is more conditional than the language of friendship might imply,” Marco Mari, a PhD researcher at Bocconi University in Italy who studies China-North Korea economic ties, told Al Jazeera.

“The bridge can facilitate supplies and economic activity, while Russian support gives North Korea alternatives that diminish Beijing’s leverage,” Mari added.

“This does not necessarily imply broader economic reform or a comparable improvement in ordinary people’s lives.”

Chinese Premier Li Qiang, on screen, makes a speech through video conference as a new bridge linking China and North Korea opens in North Phyongan province, North Korea, Thursday, October 15, 2026
Chinese Premier Li Qiang, on screen, makes a speech through video conference as a new bridge linking China and North Korea opens in North Phyongan province, North Korea, Thursday, October 15, 2026 [Jon Chol Jin/AP]

Weiqi Zhang, an associate professor at Suffolk University who studies relations between North Korea and China, said the history of China-North Korea economic ties is littered with abortive projects, such as the Hwanggumpyong Special Economic Zone, a North Korean-Chinese development near Dandong.

“There were cases, like the Hwanggumpyong Special Economic Zone – established by China and North Korea – where China built infrastructure on its side, but North Korea didn’t even pave the road on their side,” Zhang told Al Jazeera.

“One reason is that, unlike its neighbours, North Korean government doesn’t really pay much attention to trade for economic development,” Zhang said.

“International trade is used by North Korea more like a foreign policy tool.”

With China wishing to demonstrate its “indispensability” as a trade partner and North Korea eager to strengthen their economic ties, trade is likely to grow, said Edward Howell, a lecturer in international Relations at the University of Oxford.

Even so, economic engagement will be subject to political considerations, Howell said.

“North Korea will obviously want to avoid facing any Chinese influence to change its economic model, but Pyongyang will want to reap the economic benefits of trade with its principal economic benefactor,” Howell told Al Jazeera.

Source link

How China Plus One Is Transforming ASEAN Trade

Supply-chain diversification fuels a growing Southeast Asian financial ecosystem.

This article appears in the October issue of Global Finance Magazine.

China Plus One (C+1) is a supply-chain-focused strategy in which companies retain substantial manufacturing and sourcing in China while adding at least one other country. The C+1 strategy is rapidly shifting manufacturing to countries in the Association of Southeast Asian Nations (ASEAN), boosting foreign direct investment (FDI), expanding trade surpluses, and driving GDP growth.

At the same time, the Regional Comprehensive Economic Partnership (RCEP)—a free trade agreement among 10 ASEAN member countries plus Australia, China, Japan, New Zealand, and the Republic of Korea—is boosting intraregional trade and the cross-border use of local currencies, thereby germinating a potentially formidable Southeast Asian financial ecosystem.

China’s unmatched supplier density, scale, and infrastructure are retained, but concentration risk is mitigated by building capacity in ASEAN (or elsewhere). If a manufacturing site or supplier faces a tariff hike, lockdown, or political shock, production can shift rather than halt. Even without these factors, costs are substantially reduced.

A clear example of C+1 in action is Taiwan’s Foxconn, which operates factories in Bac Ninh Province in northern Vietnam, where its plant assembles Apple’s AirPods and MacBooks using high-value parts manufactured in China.

The industrial base remains in China, with ASEAN serving as a tariff and resilience hedge. Vietnam has benefited from a cumulative $5 billion in Foxconn’s FDI in the country from 2007-2026—according to Taiwan Stock Exchange and Bac Ninh local government data—to create manufacturing capacity and more than 100,000 jobs in Vietnam.

The FDI story exemplified by Foxconn has been echoed across ASEAN. “Since 2021, FDI in the region has been exceptionally strong, with annual inflows exceeding $200 billion, compared with an annual average during the last decade of less than $130 billion,” according to the ASEAN Investment Report 2025, published last October by the ASEAN Secretariat and the UN Conference for Trade and Development (UNCTAD).

That report tallies 2024 inflows at $226 billion. Underlining the ASEAN dynamic in relative global terms, FDI was up by 8.5% that year while global FDI fell 11%.

“The strategic importance of ASEAN in global supply chains has strengthened significantly over the past decade, catalyzed by the China Plus One strategy, which aims to mitigate risks arising from geopolitical tensions and search for more-resilient production networks,” said Han Teng Chua and Radhika Rao, senior economists at DBS. 

“The region’s open and foreign-investor-friendly policies, coupled with companies’ efforts to expand markets, diversify risks, and optimize costs, could drive ASEAN-6’s FDI inflows to grow at a robust CAGR of 7% over the next decade.” ASEAN-6 is a bloc comprising Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

Funding the Trade Finance Gap

Alongside the FDI narrative sit two burning issues: the pressing need to finance ASEAN trade, which is characterized by an “unmet gap” between demand and trade finance; and the underpinning of the region’s economies by micro, small, and midsize enterprises (MSMEs) and SMEs.

A joint assessment by the U.K. Growth Gateway and Boston Consulting Group, dated February 2024, puts the ASEAN-specific unmet gap at roughly $350 billion to $400 billion and estimates that closing even 10%-20% of that gap could unlock $85 billion to $105 billion in “trade value uplift” and about 6 million jobs in the region’s trade-related industries.

But a big reason for the region’s unmet gap is the preponderance of SMEs and MSMEs. According to the ASEAN Secretariat, these account for 97.2% to 99.9% of all business establishments. Collectively, SMEs and MSMEs generate about 85% of employment, contribute 44.8% of GDP, and supply 18% of national exports, making them central to job creation, inclusive growth, and value-added activity across both urban and rural areas.

The sobering fact is that about 40% of these companies’ trade-finance applications are rejected, according to the Asian Development Bank (ADB), often because applicants lack sufficient collateral, complete documentation, or an established credit history.

This is compounded by ASEAN’s fragmented nature and the urgent need to fully digitize trade and trade finance in a region that still relies on paper documentation. The Model Law on Electronic Transferable Records (MLETR) is the solution: a legal template that ASEAN countries can incorporate into law so that a digital original of trade documents has the same legal status as a paper original.

Singapore implemented MLETR in 2021, and the hope is that ASEAN’s Digital Economy Framework Agreement will push the rest of the region to align with it.

“Carbon copies still choke ASEAN trade—slow ships, costly credit, shut-out SMEs. MLETR is the legal unlock. Singapore is live. Mass uptake isn’t guaranteed, but the shift would be seismic,” said Alicia Garcia-Herrero, chief economist for Asia Pacific at Natixis, in Hong Kong.

Singapore’s move came in preparation for the RCEP, which came into force in 2022 for the first 10 ratifying countries. The 15 RCEP member countries represent the world’s largest trade bloc by population and economic size—about 30% of global population and GDP.

The RCEP aims to cut tariffs on more than 90% of goods traded among its members by 2042 and also covers services, investment, e-commerce, and intellectual property. Intra-RCEP trade rose sharply in 2022 to around $1 trillion and stood at around $6 trillion last year. The agreement has positively impacted trade for Cambodia, Laos, Myanmar, and Vietnam with other RCEP partners—exports from Cambodia to RCEP countries account for more than 60% of the country’s total trade.

Rebuilding ASEAN’s Trade Plumbing

Digitalized supply-chain finance—anchored in distributed-ledger technology—and local-currency settlement can rebuild ASEAN’s trade plumbing around firms, not just banks. Anchor buyers channel liquidity to SME and MSME suppliers, bypassing the need for collateral and thereby helping to fill the unmet gap.

The ADB’s Trade and Supply Chain Finance Program (TSCFP) helps close the unmet gap in SME trade finance by issuing AAA-rated guarantees and loans through more than 250 partner banks, enabling smaller firms in developing Asia to import, export, and access supply-chain working capital that private lenders would otherwise typically withhold.

In August, Steven Beck, TSCFP director, relocated to Singapore, in a move that reflects the city-state’s preeminence as an ASEAN supply-chain and trade-finance hub. “Being here means we can work much more closely in this energized ecosystem, feeding off the energy and exchanging ideas in a way you just can’t do remotely,” he said.

“It’s been a remarkable year,” Beck added. “Our business is up over 60% compared to the same period last year, which is a huge jump for a program that already supports about 20,000 transactions worth over $5 billion annually. Part of that is just persistent, unmet demand for trade finance in markets that have historically been underserved.”

Settling invoices through ASEAN’s Local Currency Transaction Framework alleviates dollar scarcity that bedevils the trade arena in smaller ASEAN economies and reduces foreign exchange spreads and correspondent-bank delays that hinder SME and MSME exporters. Linked digital platforms—e-invoicing, QR-code payment networks, and regional payment connectivity—convert those flows into reusable credit data. The result is a tighter, cheaper intra-ASEAN financial ecosystem in which trade transactions themselves become the collateral.

Jonathan Rogers is a contributing writer based in Vietnam.

Source link

Long-delayed China-North Korea bridge officially opens | International Trade

China and North Korea have officially opened the New Yalu River Bridge after a 12-year delay. The 3 kilometre bridge is expected to become the main land route between the two countries as they seek to improve relations.

Source link

Colombia opens embassy in Jerusalem and restores free trade with Israel | Israel-Palestine conflict

Colombia has opened an embassy in West Jerusalem under new far-right President Abelardo de la Espriella, who is reversing his predecessor’s ‌break with Israel by also restoring a free trade agreement.

Source link

Russia and Ukraine trade strikes amid doubt over ‘energy ceasefire’ | Russia-Ukraine war News

Ukraine’s president says Russian attacks on Ukraine’s energy infrastructure are continuing despite Donald Trump announcing that the two sides had agreed to a so-called ‘energy ceasefire’. Both Moscow and Kyiv are yet to confirm an agreement is in place.

Source link

UK PM Andy Burnham vows to renegotiate post-Brexit trade deal with EU | Brexit News

UK Prime Minister Andy Burnham says renegotiating relationship with the EU could reverse some post-Brexit ‘damage’.

UK Prime Minister Andy Burnham has pledged to push for closer relations with the European Union, confirming he will attend a bilateral summit in Brussels next month.

Addressing parliament on Monday, Burnham said parts of the trade deal agreed with the EU after the UK voted to leave in 2016 would be renegotiated.

Recommended Stories

list of 3 itemsend of list

Burnham said that the British public would be “the boss” at every stage of renegotiating Britain’s relationship with the EU and that he wanted “serious dialogue” about long-term ties.

He told members of parliament that his focus at the summit would be boosting growth in the economy and controlling illegal immigration.

Among the topics of discussion at November’s summit are cutting bureaucracy for British food exports and emissions trading, as well as a “new youth experience scheme” and deeper cooperation on immigration.

The prime minister, who came into office in July, said the agreements could reverse some of the “damage” done to the post-Brexit British economy.

He told MPs that Britain needed to “take a calm, clear-eyed look at the world as it is today”.

“Sticking to the status quo is not good enough,” he said, adding that “public opinion currently supports a pragmatic approach like the one I am suggesting”.

After his address, the leader of the opposition, Kemi Badenoch, said Burnham would be unable to secure a better deal as the EU was ” tough negotiators” and warned that he had already “shown his hand”.

Source link

EU and China clinch deal over cars after heated trade talks as Brussels pushes to rebalance trade

Published on •Updated

EU Trade Commissioner Maroš Šefčovič announced a deal with China on Friday to curb imports of Chinese hybrid vehicles into the EU and facilitate access to rare earths.


ADVERTISEMENT


ADVERTISEMENT

While the understanding signals a preference for a diplomatic resolution to the growing trade imbalance, European leaders are pushing for stronger measures to level the playing field. They are expected to review the details at a summit in Brussels next week.

The EU has also floated retaliatory measures if the outcome falls short of expectations.

Šefčovič travelled to Beijing on Wednesday for two days of intensive talks with his Chinese counterpart, Wang Wentao, in a bid to rebalance EU-China trade relations.

The EU is facing a record trade deficit with China of €1 billion a day, as a surge in low-cost Chinese imports threatens entire sectors of European industry.

“We have reached a shared understanding to moderate China’s export of hybrids and plug-in hybrids to the European Union,” Šefčovič said. “This opens up the prospect of cutting China’s exports by more than half.”

The commissioner said the deal would also improve access to the Chinese market for a range of EU products, from “car parts to olive oil and footwear”, representing almost €4 billion in current export value. It should generate at least €225 million in duty savings, he added.

Market access has been at the heart of EU-China discussions since negotiations began last June. Beijing has been reluctant to relinquish access to the EU’s 450-million-consumer market, which provides an outlet for its excess production.

Meanwhile, Brussels has proposed several legislative measures aimed at restricting Chinese companies’ access to the European market, while pressing Beijing to open up its own market to EU businesses.

Šefčovič also said China had agreed to facilitate exports of rare earths, which are essential to Europe’s green technology, defence and automotive industries.

“We have reached a shared understanding to further facilitate China’s export licensing for rare earths and permanent magnets,” he said.

The EU has accused China of “weaponising” its dependence on Chinese rare earths after Beijing restricted exports in 2025 amid a trade war with the US.

Šefčovič described the agreement as the conclusion of a “first phase of negotiations”.

The deal comes ahead of a meeting of EU leaders in Brussels next week, with expectations running high for concrete results from negotiations led by the European Commission on their behalf since last June.

A consensus on China has been emerging across the EU this week.

All EU countries now run trade deficits with China. On Monday, Germany and France urged the European Commission to take strong action against unfair Chinese trade practices that cause severe market distortions.

In a joint document, Paris and Berlin called for measures that could include “an immediate cut-off from the internal market if needed”.

On Wednesday, MEPs overwhelmingly adopted a resolution calling for resolute measures against Beijing.

Meanwhile, 44 EU industries, including chemicals, machinery, metals, solar, glass and cement, issued a joint statement on Friday warning that “Europe cannot maintain and grow its industrial base, quality jobs, and attract investment without the ability to respond effectively to unfair trade practices and distortions”.

Source link

5 TV shows that trade vampire horror for camp and comedy

p]:text-cms-story-body-color-text”>

Two female vampires menace a human man between them.

Rachelle Goulding, Jacob Batalon and Georgia Waters in “Reginald the Vampire.”

(James Dittiger / Syfy)

Based on Johnny B. Truant’s “Fat Vampire” book series, this Syfy series brings to light the (some would say preposterous) idea that a vampire could look like an average human. Created by “Twin Peaks” veteran Harley Peyton, it also hits on an important, body-affirming message: Reginald, who was played by Jacob Batalon, wasn’t super strong or super fast. But he was super smart.

Source link

EU-China trade talks begin in Beijing amid escalating pressure | European Union News

Talks will focus on the €1 billion daily deficit and rare earth export restrictions.

European Trade Commissioner Maros Sefcovic has arrived in Beijing for talks on the European Union’s (EU) growing trade deficit with China.

Sefcovic will meet Chinese Commerce Minister Wang Wentao on Thursday and Friday after months of discussions over the EU’s trade deficit of more than €1bn ($1.12bn) daily, as well as Chinese curbs on exports of rare earths and other critical minerals.

Recommended Stories

list of 3 itemsend of list

Meanwhile, Chinese companies are increasingly challenging Europe’s top car brands. China rejected the EU request for voluntary curbs on Chinese hybrid car exports as the two sides enter negotiations, the Financial Times reported on Wednesday. The European Commission now hopes to get Beijing to accept a unilateral EU measure to cap hybrid imports instead, the outlet said, citing two diplomats briefed on the plan.

The two days of discussions come just as a majority of EU lawmakers called for a more assertive trade policy towards Beijing in a non-binding resolution on Wednesday. China vowed a “resolute response” to safeguard its industries if the European Union goes ahead with restrictions against Chinese companies or products, according to its commerce ministry.

Germany and France propose rapid EU measure

French President Emmanuel Macron and German Chancellor Friedrich Merz, leaders of the bloc’s two biggest powers, on Tuesday urged the EU to prepare a “credible instrument” that could be quickly activated to strike back against countries that harm the bloc economically.

The new measure would not target any specific country. German officials said the EU needed a tool as powerful as the Section 301 tariffs imposed by the United States or China’s restrictions on critical-mineral exports.

The proposed weapon – to be discussed at an EU leaders’ summit next week – would give the European Commission the power to respond to a trade aggression within days.

China responded to the letter by urging Paris and Berlin to steer clear of “protectionist” measures.

“We hope that France and Germany, as major economies in the world, will uphold openness, cooperation and free trade,” the commerce ministry said in a statement.

“They should avoid going down the wrong path in the wrong way, only to ultimately suffer the consequences themselves.”

G20 finance leaders, except China’s, agreed in September to act against “non-market” distortions that exacerbate imbalances. Beijing says that hyping up issues such as economic imbalances and overcapacity is a form of protectionism designed to exert pressure on and restrict China.

Ongoing trade talks

EU and Chinese officials have been discussing trade imbalances since June. Sefcovic said he wanted “tangible results by October” as well as some form of commitment that can be put to EU leaders meeting in Brussels.

Trade relations with China top the summit’s agenda next week, as ballooning debt has prompted auditors to warn about the next seven-year EU budget and has spurred protests in France.

European Commission President Ursula von der Leyen told the European Parliament last month that the trade imbalance had reached a tipping point and that Europe would use every tool at its disposal to rebalance the relationship.

Source link

MEPs urge tougher action against China as tensions hit ‘critical point’

Published on

The European Parliament has called for tougher action against China’s economic coercion and support for Russia, warning that relations with Beijing have reached a “critical point”.


ADVERTISEMENT


ADVERTISEMENT

MEPs backed the resolution by a landslide on Wednesday, urging the EU to consider deploying its powerful Anti-Coercion Instrument if Beijing weaponises Europe’s dependence on critical raw materials.

The vote came as EU Trade Chief Maroš Šefčovič was flying to Beijing for crunch talks aimed at rebalancing the increasingly strained trade relationship.

October is shaping up to be a crucial month for EU-China relations. EU leaders, whose countries now all run trade deficits with China, are pressing the European Commission to deliver concrete results from negotiations with Beijing.

Tensions also extend well beyond trade. The EU has become increasingly alarmed by Beijing’s close relationship with Moscow and its role in sustaining Russia’s full-scale invasion of Ukraine.

“The relations have now reached a critical point, mostly due to China’s unfair economic practices such as dumping and spying and its position on Russia’s war of aggression against Ukraine,” the resolution adopted by EU lawmakers reads.

The text was backed by 454 MEPs, with 86 voting against and 110 abstaining.

Lawmakers described China’s role in the Ukraine war as that of “a decisive enabler”, pointing to “Chinese diplomatic backing and material assistance that sustains the Russian military-industrial complex”.

Pressure to use anti-coercion tool

They also call on EU countries and the Commission to “urgently” take action on “the weaponisation of critical dependencies by China.”

Europe felt the vulnerability of those dependencies in 2025, when China restricted exports of rare earths, which are vital to the EU’s automotive, defence and clean-tech industries, amid its escalating trade war with the United States.

The MEPs said the EU should consider using the Anti-Coercion Instrument (ACI) when China instrumentalises such EU dependencies.

The ACI is an EU mechanism that allows the bloc to adopt radical measures – up to restrictions on licences and intellectual property rights – against a third country that uses economic coercion against the EU.

China’s dominance of the production and processing of strategic raw materials has become a major sticking point in trade negotiations, giving Beijing considerable leverage as Brussels seeks to curb its dependence on Chinese imports.

A Commission proposal pushing companies to diversify their suppliers in strategic sectors is in the making and should be presented by the end of the year.

The resolution comes two days after Germany and France harden their stancetowards Beijing, calling for a new trade tool that could allow the Commission to impose measures leading to “an immediate cut-off from the internal market if needed”.

Source link

Central America’s Trade Squeeze | Global Finance Magazine

Deeper integration could attract more nearshoring, but governments will have to step up, too.

This article appears in the October issue of Global Finance Magazine.

With Panama joining Mercosur and Costa Rica wrapping up negotiations to join the Trans-Pacific Partnership, the rest of Spanish-speaking Central America risks being left behind.

Regional integration efforts have hitherto focused on custom unions, stock market interoperability, the Central American Integration System (SICA), the Central American Parliament, and the Central American Free Trade Agreement (FAUCA). 

“Panama’s accession to Mercosur as an associate state creates competitive pressure on the rest of Central America,” said Costa Rica-based financial analyst Daniel Suchar. “This could divert foreign direct investment that traditionally viewed Central America as a gateway to the Americas, forcing the other countries in the region to accelerate their own trade agreements to avoid falling behind.”

As a Mercosur member, Panama gains access to a market of 260 million people as well as value chains in Brazil, Argentina, and Uruguay, notably in logistics, financial services, and agribusiness. This opens the door to negotiations for a Central American bloc to join Mercosur, using Panama as a bridge.

“From a business perspective, the more connected, competitive, and open to trade Central America is, the greater the possibilities for developing regional value chains and attracting investment,” said Rosmer Jurado, president of the Union of Panamanian Industrialists.

Daniel Suchar Zomer,
Financial Analyst

Since last year, talk of a renegotiation of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) has been circulating among governments in the region. Should talks begin—the Dominican Republic is pushing hard for a trade deal—they would likely include proposals for further integration and increased rules and regulations. 

“A new agreement would be expected to include chapters on the digital economy, SMEs, resilient supply chains, and more stringent labor and environmental standards,” said Suchar. “A modernized CAFTA-DR should also address trade facilitation and regional cumulation of origin so that Central America can sell as a bloc and not as six separate countries.”

Opportunities in Nearshoring

Central America remains a diverse region, however, both politically and economically, which makes further integration challenging. Nicaragua is in danger of being frozen out of US trade after effectively banning elections, and Costa Rica has historically prioritized market diversification over Central American integration. Forging closer ties with the U.K. is part of its strategy to insert itself into high-value global production chains, particularly in medical devices, services, and technology.

The future of the Northern Triangle states—Guatemala, Honduras and El Salvador—is likely to be conditioned by their capacity to attract nearshoring and reduce non-trade costs. If they improve legal security, infrastructure, and energy, Suchar said, they can position themselves as alternatives for light manufacturing and textiles for companies leaving Asia. 

Nearshoring has been hailed as the region’s magic bullet; a 2024 report by the Center for Strategic and International Studies suggested that U.S. nearshoring alone could add at least $3.3 billion a year to Central American exports. But this is where governments will have to step up, Jurado noted. “Central America can take advantage of nearshoring,” he said, “but the opportunity will not automatically arise simply because of our location. The region must transform its proximity to the U.S. and its strategic position into concrete advantages: better infrastructure, lower logistics costs, specialized talent, competitive energy, trade facilitation, and clear rules for investment.”

Trade agreements, supply chain conditions, and geopolitical risk will all play a role. “Trade agreements are no longer just about tariffs,” said Suchar. “They focus on supply chain resilience, ESG standards, and geopolitics.”

Nic Wirtz is a contributing writer based in Guatemala.

Source link

Bass and Raman campaigns trade charges over Hasan Piker and Jewish heritage event

Hours before Nithya Raman took the stage at Jewish Federation L.A.’s mayoral forum this week, Mayor Karen Bass’ campaign blasted out a press release accusing the council member of skipping a City Council Jewish Heritage Month event to appear on Hasan Piker’s livestream.

The Raman camp’s response: “The Mayor is deliberately spreading misinformation that the public record directly contradicts,” said Liz Garcia, a campaign spokesperson.

Piker is a left-wing streamer on the platform Twitch and a fierce critic of Israel. Raman appeared on his stream on May 15, where he asked her if she thought Israel was committing genocide in Palestine. She said she did.

That same day, Raman missed a Jewish Heritage Month event at City Hall. Debbie Paperman, who is on the executive board of Democrats for Israel Los Angeles, said Raman told her that she had not been feeling well.

The Bass campaign, citing the fact that Raman appeared on Piker’s stream the same day, fired off an email to reporters claiming the councilmember had lied about her reasons for missing the Jewish heritage event.

The Raman campaign said that Raman was, in fact, ill.

Video from the May 15 council meeting shows Raman was present at the start of the meeting, but no longer at her seat during the heritage event, in which Councilmember Bob Blumenfield celebrated Jewish athletes. More than an hour later, Raman was back in council to make a speech and introduce other speakers for Hapa Day, celebrating people of mixed Asian and Pacific Island heritage, during which she said she wasn’t feeling well.

Raman’s team said she was still at City Hall during the Jewish Heritage Month event, but that she left council chambers due to her illness.

She felt better later that afternoon, the Raman camp said, allowing her to appear on Piker’s show.

Paperman said she wasn’t convinced. “It happened that you were sick for the multiple hours this was going on and you happened to get better to go on this psycho’s stream?” said Paperman. “I don’t believe that.”

Piker, meanwhile, shot back at the mayor for using his name to try to dissuade voters from supporting Raman.

“Karen Bass is deploying the same nasty tactic that Donald Trump used recently at a press conference, wondering out loud why any Jewish person would vote for Democrats, due to my presence in the big tent,” he told The Times in a text message.

Piker said he will vote for Raman, though he supported Bass against billionaire Rick Caruso in 2022.

“I was also a fan of [her] past work in Cuba,” he told The Times. “Karen Bass used to be quite the radical.”

Bass swings up in new poll

Bass will need to rely on undecided Republican and conservative voters to propel her to a mayoral victory, a new poll paid for by a group supporting her found.

The incumbent mayor is trailing Raman by 4 percentage points, 39% to 35%, with a quarter of the electorate still undecided, according to the initial results from an FM3 Research poll that was commissioned by the Central City Assn.’s PAC, an independent expenditure group supporting the mayor.

You’re reading the L.A. on the Record newsletter

Sign up to make sense of the often unexplained world of L.A. politics.

When the pollsters gave likely voters additional, critical information about both candidates, Bass shot up by 5 points and took a narrow lead over Raman, 40% to 39%, with 21% undecided, according to FM3.

“The undecided voters — including many that say they will refuse to make a choice between Bass and Raman by Election Day — are disproportionately: Republicans, conservatives, 65+, homeowners, Democratic women over the age of 50 and those who do not hold a college degree,” wrote the research company in a polling memorandum.

The poll surveyed 809 likely L.A. voters from Sept. 21-28. It has a 3.5% margin of error.

“The mayoral race remains a statistical tie,” said Nella McOsker, the president of the Central City Assn. “Our poll demonstrates that some of the most reliable voting blocs swing to Bass once they fully learn both candidates’ records.”

A poll conducted between Sept. 15 and Sept. 20 by the UC Berkeley Institute of Governmental Studies, co-sponsored by The Times, found Raman was ahead 39% to 28%.

Raman allies engage in trash talk

A woman walks out of her home carrying a full garbage bag, then starts venting about the high cost of trash pickup.

“Karen Bass has nearly bankrupted L.A., so the city doubled my trash fees. Isn’t L.A. expensive enough?” the woman says angrily, before slamming the lid on a black trash bin.

That message is at the heart of a campaign video created by Streets For All, a transportation advocacy group now spending about $1.2 million to promote Raman and tear down Bass.

That ad is missing a key piece of information: Raman voted to hike those trash fees several times last year, even as two of her council colleagues spoke out against them.

“I was one of two no votes,” said City Councilmember Monica Rodriguez, who is supporting Bass’ reelection, in an interview. “She never once pushed back.”

Rodriguez called the ad misleading, saying it implies that Raman was an opponent of the fee hikes.

Michael Schneider, who runs the Streets For All campaign committee, defended the 14-second spot, saying council members hiked the trash fees to make up for bad budget decisions made by the mayor — including her support for a $2.6-billion upgrade of the Convention Center.

The council boosted the trash fee to $55.95 per month last year for small apartment buildings, up from $24.33. For single-family homes, the monthly fee was also hiked to $55.95, up from $36.32.

The city’s budget advisors said the increases were needed in large part because the monthly fees had not been increased in 17 years. As a result, L.A.’s residential trash customers were not being charged the full cost of garbage pickup, leaving the city budget to cover the difference.

“Kick it in the Park” gets Olympic makeover

L.A.’s summer of 2026 will be remembered for stifling heat, innumerable Dodgers injuries and, especially, World Cup watch parties.

Teams, corporate sponsors and the city of Los Angeles welcomed in the world, producing large crowds and kumbaya moments — with fans of opposing teams partying side-by-side in (relative) peace and harmony.

Mayor Karen Bass’ “Kick it in the Park” events drew a total of 45,000 fans over the length of the quadrennial soccer tournament. A survey of about 2,000 of them registered overwhelming support for the free shindigs.

Paul Krekorian, executive director of the mayor’s Office of Major Events, declared victory in a meeting with City Council members this week. He also said that substantial planning is already underway to bring the city even more viewing parties and “activations” during the 2028 Olympics.

While the city hosted a maximum of three viewing parties a day during the World Cup, it plans to stage as many as 15 a day when the Olympics come to town. A list has been drawn up of possible locations for the festivities — spread around every corner of the city and distant from Olympic venues to avoid overcrowding.

Among the possible viewing party locations: MacArthur Park, the Greek Theatre, Pan Pacific Park, Leimert Park Plaza, Koreatown, Penmar Recreation Center, Echo Park Lake, Angels Gate Park and the Watts Towers.

Given the welter of Olympic events, it will be a challenge to schedule the parties, whose centerpieces are usually big screen projections of the live events, with food and live performances often thrown in.

State of play

— SPLIT ON GAZA: Bass and Raman split on Tuesday over whether Israel has committed genocide in Gaza during the Israel Gaza war. The two candidates gave their opinions during a forum hosted by Jewish Federation Los Angeles. Raman said she agrees with the experts who use the term, while Bass said she would not use the term genocide to describe Israel’s counteroffensive in Gaza.

— WILDFIRE FAILURES: A long-awaited independent investigation commissioned by Gov. Gavin Newsom offered the most in-depth review of the Jan. 7, 2025, Palisades and Eaton fires, describing the chaos and poor communication that made firefighting, rescues and evacuations even more difficult. The 724-page report also cited the Los Angeles Fire Department’s failure to fully extinguish the Jan. 1 Lachman fire, which reignited days later, and Los Angeles County’s failure to provide timely evacuation alerts in Altadena.

— ESTAMOS CON WHOM?: Recent polling by the UC Berkeley Institute of Governmental Studies, co-sponsored by The Times, found that likely Latino voters favor Councilmember Raman over incumbent Bass by a wide margin — 45% to 21%, with 34% undecided. That’s an even bigger lead than Raman had over Bass with voters overall in the most recent Berkeley IGS/L.A. Times poll.

— VOTER GUIDES: The Times released its much-anticipated voter guides for the November election this week, including a mayoral guide and a guide to the Council District 9 race, among many others.

— OLYMPIC OBSCURA: The nonprofit organizer of the 2028 Summer Olympics, LA28, has provided less information in its annual reports than it agreed to in a 2021 contract with the city. The group has stopped reporting the contracts it signs over $1 million, leaving taxpayers with less information about the work going into the Games. LA28 says it has provided all necessary info.

The city also asked LA28 to take out a $650-million insurance policy, and agree to cover any potential losses above that amount, should the Games be canceled by a calamity.

— LAPD BLUES: Secret recordings documenting LAPD officers making racist comments have renewed questions about whether the force, which is now less than 50% white, has made forward progress on stamping out prejudice in its ranks.

— STORM’S BREWING: L.A.’s sanitation agency is bracing for the coming ‘Super’ El Niño, which could wreak havoc with the city’s Hyperion sewage treatment plant.

QUICK HITS

  • Where is Inside Safe? The mayor’s signature program went to East Hollywood in Hugo Soto-Martínez’s district on Tuesday, where they moved 61 people indoors near Beverly Boulevard and Madison Avenue. On Thursday, Inside Safe moved 27 people indoors near Louvre Street and Ralston Avenue in Pacoima in Rodriguez’s district.
  • On the docket next week: On Wednesday, the City Council’s transportation committee will be discussing an independent evaluation of the city’s Vision Zero Program.

Stay in touch

That’s it for this week! Send your questions, comments and gossip to LAontheRecord@latimes.com. Did a friend forward you this email? Sign up here to get it in your inbox every Saturday morning.

Source link

Dutch royal house helped slave trade to survive, study finds | News

In-depth study also says the royal house made huge profits from the Dutch colonial policies in past centuries.

A historical study has found that the Dutch royal house benefited from the country’s colonial policies in past centuries and helped the slave trade to survive.

The in-depth study, commissioned by King Willem-Alexander and conducted by Leiden University, showed the House of Orange-Nassau “actively supported Dutch colonialism for centuries, but only rarely determined colonial policy”, according to the university’s statement, published on Friday.

Recommended Stories

list of 3 itemsend of list

“The involvement of the House of Orange-Nassau was wholehearted and without any real reservations,” Dutch historians and human rights experts concluded after a three-year study looking at the period from 1600 to the present.

“The research leaves us in no doubt that the House of Orange shares responsibility for the survival over the centuries of the Dutch slave trade and slavery,” the study said, noting that most of the rulers showed no objections to slavery.

King Willem-Alexander said on Friday he was personally affected by the “explicit” conclusions of the study.

“It is a painful and confronting conclusion. A conclusion that affects me, even though I am three generations removed,” Willem-Alexander said in a speech at the presentation of the research.

“We know the effects of colonialism and slavery are still being felt today. Discrimination and economic exploitation unfortunately happen every day,” he added.

The study also showed that the royal family at times profited substantially from the colonial system, mostly from trade in the Dutch East Indies, modern-day Indonesia.

In the 19th century, for instance, profits accumulated to about $650m in modern terms, the researchers said.

On the other hand, the royal family earned “almost nothing” from the slave trade, the research showed.

Apologies without reparations

The Dutch monarch, who in 2023 apologised for his ancestors’ lack of action against slavery, highlighted their lack of “counter-current leadership” in the face of colonialism.

Dutch historian Gert Oostindie, right, presents a volume of an independent study into the role of the House of Orange-Nassau in Dutch colonial history to King Willem-Alexander in Leiden, the Netherlands, on October 2, 2026
Dutch historian Gert Oostindie, right, presents a volume of an independent study into the role of the House of Orange-Nassau in Dutch colonial history to King Willem-Alexander in Leiden, the Netherlands, on October 2, 2026 [Piroschka van de Wouw/Reuters]

The House of Orange has ruled the Netherlands since the late 16th century, first as “stadtholders” who presided over the republic, and later as the royal house when the Netherlands became a monarchy.

For most of this time, the Dutch ruled over vast colonies in Southeast Asia and the Caribbean, including what is now Indonesia and Suriname.

The findings could stir up the debate around reparations in the Netherlands. The Dutch government apologised in 2022 after acknowledging the Dutch state bore responsibility for transatlantic slavery. King Willem-Alexander apologised the following year.

The government at the time ruled out reparations, instead creating a 200 million euro ($238m) fund for social initiatives, which anti-racism campaigners have dismissed as insufficient.

The National Institute for the Dutch Slavery Past and Heritage (NiNsee) lauded the king for commissioning the study but said it should lead to a next phase.

“Research impacts society when the new insights into the past contribute to awareness, dialogue, corrections and additions to our national history in the school curriculum and the conversation about responsibility and reparatory justice,” NiNsee director Bianca Groen Gallant said.

The Dutch played a major role in the global slave trade from the 17th century until the Netherlands abolished slavery in the second half of the 19th century.

Source link

Steelers trade Joey Porter Jr. to Cowboys after contract talks failed

Just last week, Joey Porter Jr. told reporters he “definitely” would play for the Pittsburgh Steelers this season despite a contract standoff and a lingering back issue.

That’s not going to happen. The Steelers have traded the fourth-year cornerback to Dallas for a second-round 2028 draft pick and a sixth-round 2027 pick, the Cowboys announced Thursday morning.

“Here I come…… Dallas,” Porter wrote on a post to his Instagram Stories early Thursday.

The son of a former Steelers great — Joey Porter Sr. won a Super Bowl with the Steelers during his 13 years as an NFL linebacker and spent several years with the team as a defensive coach — Porter was selected by Pittsburgh in the second round of the 2023 draft. He broke up 31 passes over his first three seasons.

Porter missed all of training camp and preseason while on the Steelers’ physically unable to perform list because of the reported back issues. During the same period of time, he and the Steelers were unable to come to terms on a contract extension on the rookie deal that was set to expire after this season. The Steelers do not negotiate contracts once a season has begun.

Since the season started, Porter has been a limited participant in practices but was inactive in all three games. As the Steelers prepared to face the Cleveland Browns on “Thursday Night Football” this week, Porter was listed as a full participant in practice, although the team added a back injury to Porter’s injury status on Wednesday.

Porter is the third Steelers player traded to the Cowboys in the last two years, following receiver George Pickens last year and offensive lineman Broderick Jones just before this season started. First-year Steelers coach Mike McCarthy was the Cowboys coach from 2020 to 2024.

Last year, a contract dispute led Dallas to deal star edge rusher Micah Parsons to the Green Bay Packers just before the start of the regular season.

The Associated Press contributed to this report.



Source link

EU pushes China to accept import quotas in bid to rebalance trade

Published on

Brussels and Beijing are fighting over quotas that would limit Chinese imports to the EU market, as the Europeans seek to rebalance their trade relationship with China, Euronews has learned.


ADVERTISEMENT


ADVERTISEMENT

Both started intense negotiations last June over EU and Chinese access to each other’s markets, with an October deadline set by the European Commission to reach “tanglible” results. However, China is pushing hard against the EU’s attempts to protect its market.

According to one person familiar with the matter, the Commission, which is negotiating on behalf of the 27 EU countries on trade issues, wants China to accept quotas on specific products.

However, it is unclear how China would accept and respect such quotas.

Trade defence mechanisms delayed

According to media reports, so-called “voluntary export restrictions” have been pushed by the Commission for electric vehicles. But Beijing’s trade minister rejected them in a statement earlier this month.

If China accepted such a system of restrictions, it would mean that it voluntarily limits its exports to the EU on the basis of a deal negotiated with the Commission, sparing the EU from adopting defensive trade measures that might be seen as an aggressive move by China.

Technical negotiations are in their final stretch as the October deadline is approaching.

Director General of DG Trade at the Commission, Ditte Juul Jørgensen, travelled to China last week for two days of heated discussions, and EU Trade Commissioner Maroš Šefčovič is due to be in Beijing on 8 and 9 October for political talks, ahead of a key meeting of EU leaders in Brussels.

To give negotiations a chance, the Commission has delayed the adoption of trade defence mechanisms aiming to protect the EU chemical industry, according to another person familiar with the matter. The chemical industry is one of the sectors most threatened by Chinese competition in the EU.

However, the threat also targets other sectors, making the rebalancing of the trade relationship “existential” for the Europeans, EU Industry and Trade Commissioner Stéphane Séjourné told Euronews last week.

According to the Commission, the EU already lost 250,000 industrial jobs last year, particularly concentrated in energy-intensive sectors and automotive supply chains.

Source link

US, China list goods recommended for tariff cuts following Trump-Xi summit | International Trade News

The United States and China have unveiled a list of goods recommended for reduced tariffs following last week’s summit between Presidents Donald Trump and Xi Jinping.

The release of the list on Sunday comes after Trump and Xi agreed to work towards lowering tariffs on $60bn worth of trade.

Recommended Stories

list of 4 itemsend of list

The agreement, which covers $30bn of each side’s imports, identifies 77 Chinese goods and more than 1,600 US products to be considered for more favourable tariff treatment.

Chinese goods on the list include microwave ovens, fish hooks, artificial flowers and weighing scales.

US exports identified for lower tariffs include poultry, dairy products, noodles, eggs, peanuts, canned tomatoes, pure-breed breeding horses, and silk.

US Trade Representative Jamieson Greer said the agreement would improve market access for about 30 percent of US exports to China and also benefit US consumers.

“The Trump Administration will continue to pursue fair, balanced, and reciprocal trade with China by ensuring compliance with commitments on agricultural and energy purchases, pursuing balanced trade in non-sensitive goods, and securing market access for American farmers, manufacturers, businesses, and workers,” Greer said in a statement.

China’s Ministry of Commerce, which confirmed the list on Monday, shortly after the White House announcement, said the sides would discuss “a reciprocal tariff reduction framework of $30 billion for $30 billion, aiming to reach a consensus”.

“This arrangement will help stabilize China-US trade, create better conditions for Chinese exports of relevant products to the US, meet domestic market demand, and strengthen trade cooperation in agricultural products, energy, manufactured goods, and consumer goods,” the ministry said in a statement.

While Trump and Xi’s summit was heavy on pomp and ceremony, their talks wrapped up on Friday with few concrete announcements on the myriad divisions between the superpower rivals, which span everything from trade to artificial intelligence and Taiwan.

Trump and Xi, who have held three face-to-face summits since last October, are expected to meet again at the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, in November, and the Group of 20 gathering in Miami, Florida, in December.

Trade between the US and China, the world’s two largest economies, has declined substantially since Trump, a longtime critic of free trade policies, returned to the White House in January last year.

Two-way trade totalled $495bn in 2025, down 25 percent from the previous year, according to the US Trade Representative.

Deborah Elms, head of trade policy at the Hinrich Foundation in Singapore, said the latest announcement did not point to a major shift in US-China trade.

“Instead, both sides have largely listed goods that do not move the needle on overall trade flows,” Elms told Al Jazeera.

“They may reduce some prices in the US for consumers, but none is going to make a dramatic difference in inflation figures or result in meaningful sighs of relief by most US buyers,” Elms added.

“The same is broadly true with the Chinese list. Although there are many different agricultural products on the list, most are not actually exported to China or not exported in meaningful quantities.”

Source link

US-China trade truce extended as both sides seek progress on tariffs and trade

China said on Monday that a two-month extension of its trade truce with the United States would give both sides more time to assess the implementation of their existing arrangements and discuss further steps to resolve economic and trade disputes.

China’s Commerce Ministry confirmed that the truce would remain in place through January 10, saying the extension would provide a “relatively stable and predictable policy environment” for businesses and allow the two countries to continue their talks.

The extension was among the main outcomes of a summit between Chinese President Xi Jinping and US President Donald Trump in Washington last week, their second meeting this year.

Background

The United States and China have spent years imposing tariffs and other trade restrictions on each other, with tensions extending beyond tariffs to technology, investment, supply chains and market access.

Stay ahead of the geopolitical week.

MD Briefing delivers expert analysis across five global fronts — the Indo-Pacific, energy, geoeconomics, European security, and the Middle East — every Monday morning. Free.

The latest extension follows an agreement by the two sides to establish a trade council that will oversee discussions on a range of economic issues.

One of its first tasks will be to discuss reciprocal tariff reductions covering about $30 billion worth of goods, with the aim of maintaining more stable economic and trade relations between the two countries.

China’s Commerce Ministry said the arrangement would also create better conditions for Chinese exporters seeking access to the US market.

The two sides will hold regular discussions on investment opportunities and barriers, policy transparency and predictability, and concerns raised by businesses.

Why it matters

The extension gives US and Chinese companies more time to operate under a relatively predictable trade environment while negotiators work through remaining disputes.

Agriculture is one of the main areas covered by the latest arrangements. A White House list showed that China plans to reduce tariffs on a range of US agricultural products, including corn, wheat, dairy products and meat, although soybeans were not included.

The proposed cuts appear linked to a US-stated Chinese commitment to purchase $17 billion worth of agricultural products. China has already resumed large-scale purchases of US soybeans under an agreement reached last year that called for annual purchases of 25 million metric tons.

The countries will also establish an agriculture working group under the new trade council, with its first meeting expected before the end of the year.

Energy trade is another part of the agreement. China will import 10 million metric tons of US coal annually in 2027 and 2028, according to the White House. That would account for about 2% of China’s annual coal imports. US liquefied natural gas and oil were not included in the list.

The arrangements extend beyond traditional trade. The two countries have agreed to establish a communication channel for artificial intelligence related incidents and hold another dialogue by the end of November.

China will also consider approving foreign financial institutions, including US backed firms, to operate and open branches in the country. Washington and Beijing will meanwhile continue discussions on increasing direct flights between the two countries.

What’s next

The immediate focus will be on implementing the agreements reached at the presidential summit.

The agriculture working group is expected to meet before the end of the year, while the AI dialogue is due to continue by the end of November. The two countries will also use the new trade council to discuss tariffs, investment, market access and regulatory concerns.

The extension runs until January 10, giving negotiators another two months to evaluate whether the existing arrangements are being implemented and determine what further agreements can be reached.

Whether the two sides can turn the temporary truce into longer-term trade arrangements will depend on progress across the different areas covered by their negotiations, including tariffs, agricultural purchases, investment and technology.

With information from Reuters,

Source link

Afghanistan says 28 fighters killed as Islamabad, Kabul trade accusations | Pakistan Taliban News

Relations strain further as Afghanistan and Pakistan trade accusations over terrorism and cross-border violence.

Afghanistan’s Ministry of Defence said its forces killed 28 fighters in the eastern province of Nuristan who had crossed the border from Pakistan.

In a statement posted to X, the Taliban’s defence ministry confirmed it had engaged in clashes with the opposing group on Sunday.

Recommended Stories

list of 3 itemsend of list

The defence ministry alleged that most of the fighters were former Afghan government security personnel recruited by Pakistan’s intelligence services with promises of asylum and well-paid employment in foreign countries.

The defence ministry claimed the fighters included ISIL (ISIS) fighters who were supported by Pakistani militias.

Pakistan’s Ministry of Information and Broadcasting rejected the allegations, describing them in a post on X as “frivolous, baseless and devoid of any truth”.

Pakistan denied that its security forces or intelligence agencies were involved in clashes in Nuristan, had recruited or trained former Afghan security personnel, or had facilitated ISIL (ISIS) or other armed groups in Afghanistan.

Pakistan’s information ministry also said the Taliban “should take credible and verifiable action against terrorist organisations operating from its territory” and fulfil its obligation so that “Afghan soil will not be used for terrorism against Pakistan or any other country rather than attempting to deflect responsibility through fabricated accusations”.

Escalating tensions

The clashes follow increasing tension between the two countries.

Last week, Pakistan launched air strikes on 10 locations in Afghanistan it said were used to store and launch drones, some of which were used in cross-border attacks.

The Pakistani air strikes on Thursday killed at least four people, a spokesman for the Afghan Taliban government said while promising to deliver an “appropriate response”.

Pakistan has repeatedly accused Afghanistan of sheltering fighters who attack its territory, a charge Kabul denies.

Sunday’s incident also follows Pakistani air strikes in Afghanistan on September 21 that Islamabad said killed 28 fighters. Afghan officials said civilians were killed and the U.N. mission in Afghanistan confirmed three civilian deaths.

Source link