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UK lawmakers begin emergency debate to save British Steel
UK lawmakers held a rare Saturday parliamentary debate as the government seeks to pass emergency legislation to stop the last British factory that can make steel from scratch shutting down. She added that Saturday's emergency legislation would provide for criminal sanctions if executives fail to comply with instructions to keep the blast furnaces open.
German refinery's plight prompts calls for return of Russian oil
No Russian oil has been delivered via the Druzhba pipeline to the PCK refinery in Germany in more than two years because of sanctions levied against Moscow following its full-scale invasion of Ukraine.
Iraqi markets a haven for pedlars escaping Iran's economic woes
Every Friday, Alawi crosses the border from Iran into Iraq to sell his produce in the markets of Basra, which serve as a haven for Iranians grappling with economic sanctions. He is just one of many Iranian pedlars who endure the arduous journey into southern Iraq through the Chalamja border crossing.
Chinese manufacturers in fighting spirits despite scrapped US orders
On a sweltering spring day, workers at a Christmas tree factory in eastern China rhythmically assembled piles of branches, wiping away sweat as they daubed white-paint snow onto plastic pine needles. Other local Christmas tree makers have also been hit, she said, but not as badly as in southern Guangdong province, where some factories' production can be completely taken up by one large US client.
Argentina receives $42 bn from international financial institutions
Three international financial institutions announced $42 billion in fresh support for financially troubled Argentina on Friday, as its president said his country's economy will grow "like never before."
Asset flight challenges US safe haven status
The US has long been considered a financial safe haven. This week, the volatility spread to the US Treasury market, long considered by global investors to be a refuge.
Canada, US to start trade talks in May: Carney
Canada and the United States will start talks on a new trade deal in early May, Prime Minister Mark Carney said Friday, warning President Donald Trump's trade war was already hitting Canada's labor market.
UN shipping body approves global carbon pricing system
Member states of the International Maritime Organization have voted in favour of a global pricing system to help curb maritime carbon emissions, the UN shipping body announced Friday. A majority of members -- 63 states -- voted for the carbon pricing system, including the European Union, Brazil, China, India and Japan.
African Development Bank chief warns of tariff 'shock wave'
An onslaught of tariffs by the United States will send "shock waves" through African economies, the president of the African Development Bank said on Friday, warning of reduced trade and higher debt-servicing costs. A baseline 10-percent levy remains in place for all countries, along with higher tariffs on Chinese imports to the United States -- scrambling decades of global trade policy.
AFP
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