Author: Editorial Desk

The African Export-Import Bank has announced a $17.5 billion financing facility for Angola’s state oil company Sonangol, providing a major liquidity boost as the country seeks to stabilize crude trading and sustain production in a basin facing long-term decline and increased scrutiny from international producers. According to a statement cited by Reuters on Wednesday, the facility is intended to support Sonangol’s oil trading operations and general corporate funding needs, helping to maintain liquidity for crude exports. Afreximbank said the package will be delivered through structured trade finance instruments, although it did not disclose details on maturities, drawdown schedules, pricing, or…

Pakistan has urged Türkiye to increase rice imports from the country as global price pressures intensify, signaling a shift toward a volume-led export strategy aimed at protecting farmer incomes and sustaining the agricultural value chain, according to an official statement issued on Wednesday. The issue was discussed during a meeting between Federal Minister for Commerce Jam Kamal Khan and Turkish Ambassador to Pakistan Dr. Irfan Neziroğlu, as both sides explored ways to strengthen bilateral trade cooperation, with a particular focus on expanding Pakistan’s rice exports. The talks come as Islamabad seeks to counter the impact of aggressive pricing by rival…

India and the European Union have agreed on what leaders described as the “mother of all” trade deals, creating a vast free trade zone covering nearly two billion people and marking one of the most ambitious economic partnerships ever concluded by both sides. European Commission President Ursula von der Leyen announced the breakthrough during her visit to New Delhi on Tuesday, posting on X that the two parties were “making history” by finalizing an agreement designed to benefit both economies. Indian Prime Minister Narendra Modi confirmed the deal shortly before meeting von der Leyen and European Council President Antonio Costa,…

President Donald Trump said on Monday that the United States will raise tariffs on a range of South Korean goods, citing Seoul’s failure to secure legislative approval for a trade framework announced last year. In a social media post, Trump said import taxes would be increased on automobiles, lumber and pharmaceutical products from South Korea, while tariffs on other goods would rise from 15% to 25%. The tariffs were originally imposed after Trump declared an economic emergency and bypassed Congress, while South Korea’s National Assembly must formally approve the framework that was announced in July and reaffirmed during Trump’s visit…

UK Export Finance has agreed to provide automatic guarantees on an £11 billion working capital lending package designed to help British small and medium-sized enterprises expand into overseas markets, marking what the government described as one of the largest coordinated banking moves in more than a decade. The scheme will see Barclays, HSBC, Lloyds, NatWest, and Santander provide funding from their own balance sheets, with UKEF guaranteeing up to 80% of eligible loans. Banks will be able to apply the guarantee automatically for working capital facilities of up to £10 million, reducing risk and speeding up access to finance for…

European Commission President Ursula von der Leyen on Monday said that a “successful India makes the world more stable, prosperous, and secure” as she attended India’s 77th Republic Day celebrations in New Delhi, underscoring growing momentum toward a landmark India–European Union free trade agreement. Von der Leyen and European Council President António Costa were the chief guests at the Republic Day parade along Kartavya Path, where President Droupadi Murmu took the salute after arriving in a traditional buggy accompanied by the two leaders. Sharing her reflections on the social media platform X, von der Leyen said it was an honor…

Ghana has taken a step toward strengthening maritime and trade cooperation with the United States following a high-level working visit to the Port of Philadelphia led by Ghana’s Ambassador to the U.S., Victor Emmanuel Smith. The delegation included the Minister for Tourism, Culture, and Creative Arts, Dzifa Gomashie, as part of Ghana’s broader efforts to deepen economic partnerships and expand engagement with major international logistics hubs. During the visit, the delegation toured the port’s facilities and received detailed briefings on its operations, including key import commodities, container handling services, logistics infrastructure, and the port’s role in regional and international trade.…

Bangladesh has stepped up efforts to expand its presence in the global food and beverage market with the inauguration of its official pavilion at Gulfood 2026, the world’s largest food and beverage trade exhibition. The Bangladesh Pavilion, located in South Hall 12 at the Dubai Exhibition Center in Expo City, was inaugurated by Tarek Ahmed, Ambassador of Bangladesh to the United Arab Emirates, according to a statement from the Export Promotion Bureau (EPB). The country’s participation is funded by the EPB under the Ministry of Commerce as part of its broader strategy to accelerate exports to international markets. The 31st…

Russia has cited a newly concluded free trade agreement between Indonesia and the Eurasian Economic Union (EAEU) as proof that Moscow favors market liberalization over protectionist tariff policies. The move stands in indirect divergence from the trade approach of U.S. President Donald Trump. Indonesia closed 2025 by finalizing a free trade pact that will expand access to the EAEU, a $2.56 trillion economic bloc comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The agreement is awaiting approval from lawmakers, but expectations are already high among businesses and policymakers. In an exclusive interview with BTV, Russian Ambassador to Indonesia Sergei Tolchenov described…

The Federation of Indian Export Organizations has urged the government to use the upcoming Union Budget to provide strong policy and fiscal support for building global-scale Indian shipping lines, saying the move could save the country an estimated $40–50 billion annually in freight outflows. FIEO president S C Ralhan said India’s heavy dependence on foreign shipping lines exposes exporters to high freight costs, supply disruptions, and volatility in global shipping rates, while the absence of strong domestic carriers weakens the country’s trade resilience and bargaining power. Nearly 91% of India’s export-import cargo is currently carried by foreign vessels. Industry estimates…