Author: Editorial Desk

The European Central Bank (ECB) has opted to maintain its benchmark interest rate at 2% despite renewed global uncertainty stirred by Donald Trump’s proposed 30% import tariff. The decision, announced Thursday, signals the ECB’s cautious stance ahead of its summer recess, choosing to observe economic developments rather than rush into policy changes. The move delays any cut in borrowing costs until at least September, when policymakers reconvene with fresh economic projections. With inflation currently near target, ECB officials prefer to wait for more data before adjusting course, particularly with concerns mounting over global trade tensions and internal eurozone pressures. Market…

Vietnam and Bangladesh are set to emerge as the primary drivers of global cotton trade growth over the next decade, according to the OECD-FAO Agricultural Outlook 2025–2034. With rapidly expanding textile industries, both countries are ready to sharply increase their raw cotton imports, contributing to a forecasted annual global trade growth rate of 1.6%, reaching 12.3 million tons by 2034. The report highlights that Vietnam’s cotton imports are expected to grow at an annual rate of 2.8%, while Bangladesh’s imports will rise by 2.4%. Their increasing mill consumption underpins a steady demand for fiber, strengthening international trade flows. Meanwhile, China…

India must resist external pressure and continue purchasing discounted oil from Russia, according to the Global Trade Research Initiative (GTRI). In a statement on Thursday, the independent economic think tank asserted that India’s strategy of buying Russian crude has been instrumental in maintaining macroeconomic stability and controlling inflation amid global disruptions. Ajay Srivastava, founder of GTRI, emphasised the significance of this energy strategy. “Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment,” he said, urging the Indian government to stay the course and not yield to US demands. His remarks follow…

Transnet and United Manganese of Kalahari (UMK) have entered into a 10-year agreement for the rail transportation and manganese export from UMK’s operations in South Africa’s Northern Cape. Announced on Wednesday, the agreement forms part of Transnet’s Manganese Export Capacity Allocation (MECA) 3 program, which allocates rail and port capacity to domestic manganese producers to support their export operations. Transnet stated that the deal reflects UMK’s confidence in the state-owned operator’s ability to facilitate efficient access to international markets. “We are encouraged by the vote of confidence expressed by UMK through their long-term commitment as part of the MECA program,”…

Thailand’s Ministry of Commerce has reached out to China’s leading foreign trade body for support in promoting Thai Geographical Indication (GI) products in the Chinese market, while also seeking to attract Chinese investment into Thailand’s modern industries. The appeal was made by Ekachat Seetavorarat, Deputy Permanent Secretary of the Ministry of Commerce, during a high-level delegation visit to China from Tuesday to Thursday. The Thai delegation included senior officials such as Narit Therdsteerasukdi, Secretary-General of the Board of Investment, and Pornvit Sila-On, Deputy Director-General of the Department of International Trade Promotion, alongside representatives from the Thai Chamber of Commerce and…

The Singaporean government has announced the launch of a new Business Adaptation Grant in October 2025 to help companies address escalating operational costs and respond to growing global trade uncertainties, particularly following new U.S. tariff developments. The initiative, introduced by the Singapore Economic Resilience Task Force (SERT), will offer eligible businesses up to S$100,000 (approximately US$78,000) over a two-year period. The grant will require co-funding by recipient companies and aims to support firms most vulnerable to recent international trade disruptions. Deputy Prime Minister Gan Kim Yong, who also chairs SERT, stated that the newly introduced U.S. tariffs would likely deepen…

Uganda’s economy has shown notable resilience in the face of global economic challenges, according to a new report from the Ministry of Finance, Planning and Economic Development released Tuesday. The report on the state of the economy highlights a 6.9% average growth rate over the first three quarters of the 2024/25 financial year, which ended on June 30. This growth was driven by increased government spending on poverty reduction programs such as the Parish Development Model, a rise in fixed capital formation, and a rebound in household consumption. The ministry also cited gains in investment and exports as key contributors.…

Vietnam is actively exploring opportunities to expand its exports to the global Halal market, aiming to strengthen its presence in key regions such as the Gulf Cooperation Council (GCC) and South Asia. Experts emphasize that while the market holds immense potential, successful entry requires a deep understanding of Halal standards, consumer behaviour, and trade practices. At a seminar held on July 14 in Ho Chi Minh City, co-hosted by the Ho Chi Minh City Centre of International Integration Support (CIIS) and the Department of Overseas Markets under the Ministry of Industry and Trade (MoIT), officials and trade experts discussed both…

The global tuna market is entering a critical phase of transformation, according to a recent report by the Vietnam Association of Seafood Exporters and Producers (VASEP). Projections for 2025 place global tuna imports between 1.75 and 1.8 million tons, with a market value surpassing $9 billion, reflecting a modest rise from 2024. While prices for raw tuna remain high, demand from key markets such as the United States, the European Union, and Japan remains stable. These regions, specifically the US, Spain, Italy, France, the UK, and Japan, currently represent more than 55% of global processed tuna imports. Meanwhile, consumption is…

Container import volumes into the United States have peaked earlier than expected this year, according to the Inbound Ocean TEUs Volume Index (IOTI) reported by Yahoo Finance. The index, which tracks the 14-day moving average of twenty-foot equivalent unit (TEU) containers arriving at U.S. ports, reached a multi-year high of 2,356 in early July, nearly a month ahead of the traditional peak shipping season and approximately 4% above last year’s peak. This surge does not necessarily reflect stronger consumer demand. Analysts suggest it shows a recovery from recent disruptions linked to tariffs on Chinese goods, which triggered a 15% decline…