Author: News Desk

President Donald Trump on Monday revealed plans to lift export restrictions on Nvidia’s H200 chips to China, marking a significant policy shift amid the ongoing trade tensions between the two largest global economies. The H200, Nvidia’s second most powerful AI processor, plays a crucial role in handling advanced artificial intelligence workloads. Trump clarified that Nvidia’s in-demand Blackwell processors and the upcoming Rubin series are excluded from the agreement. “I have informed President Xi of China that the United States will allow NVIDIA to ship its H200 products to approved customers in China and other countries, under conditions that allow for…

The U.S. Mission in Nigeria reported that the country continues to rank as the world’s third-largest buyer of American wheat, a status underscored by the latest shipment of 50,000 metric tons. U.S. Consul General Rick Swart and U.S. Agricultural Counselor Chris Bielecki inspected the consignment, visiting the port to monitor the unloading process. The shipment was bought by Flour Mills of Nigeria, a major food processor in the country and a long-time purchaser of U.S. wheat. Over time, cooperation between the two nations has consistently delivered shared benefits. Agricultural trade enables American farmers to access new markets while supporting job…

Russia is planning to impose new limits on the export of cash rubles and gold as part of a wider effort to curb the shadow economy, Deputy Prime Minister Alexander Novak stated on Monday. He explained that the measures are part of a strategy to ‘clean up’ the economy, a directive that President Vladimir Putin has instructed the government to speed up. “The uncontrolled export of cash rubles of unknown origin, including to Eurasian Economic Union member states, will be prohibited, as will the export of gold bars from Russia,” Novak said. According to a proposal from the Finance Ministry,…

Malaysia’s Ministry of Investment, Trade and Industry (Miti) said fruit traders and importers can submit applications directly to the Ministry of Finance (MoF) to obtain Sales and Service Tax (SST) exemptions on imported fruits. Miti stated that the exemptions resemble those granted under the Malaysia–United States Agreement on Reciprocal Trade (ART) but remain subject to evaluation and approval by the MoF in accordance with the Sales Tax Act 2018. “However, at present, most fresh fruits have already been granted a general tax exemption to safeguard national food security,” it said. The ministry was addressing Senator Tan Sri Low Kian Chuan’s…

Türkiye’s Trade Minister Omer Bolat announced that Türkiye and Hungary have signed a Joint Declaration to enhance bilateral trade relations, representing a tangible move to boost both commercial and institutional cooperation between the two nations. Bolat stated that he had a productive discussion with Hungary’s Minister of Foreign Affairs and Foreign Trade, Peter Szijjarto, who is visiting Türkiye to attend the Seventh Session of the Türkiye-Hungary High-Level Strategic Cooperation Council (YDSK). Bolat emphasized that Türkiye is prepared to boost reciprocal investments with Hungary and expand collaboration across sectors such as contracting, defense, energy, logistics, and finance. He pointed out that…

The Philippines has temporarily banned all pig and pork imports from Spain after authorities confirmed an African Swine Fever (ASF) outbreak in the European country, the country’s Department of Agriculture (DA) declared on Sunday. The Department of Agriculture assured that pork supplies will stay adequate during the holidays, despite the temporary ban on hog and pork imports from Spain due to the ASF outbreak. Agriculture Secretary Francisco Tiu Laurel stated that the import ban, which includes live pigs, pork, skins, and semen for artificial insemination, will not restrict supply levels or cause price increases during the Christmas season. “Cold storage…

India and Russia on Friday agreed to a joint ‘Program for Economic Cooperation’ through 2030, aiming to reach $100 billion in bilateral trade by boosting Indian exports to Moscow by easing non-tariff barriers and regulatory obstacles. Russian President Vladimir Putin was on a visit to India to attend the 23rd India-Russia Annual Summit and hold talks with Indian Prime Minister Narendra Modi. On Friday, he stated that Moscow and New Delhi are working to raise bilateral trade to $100 billion, noting that trade between the two nations has reached record levels. “Both sides emphasized that addressing tariff and non-tariff trade…

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), together with the Nigerian Export Promotion Council (NEPC) and the Nigeria Customs Service, has launched a new framework designed to boost agricultural trade facilitation and improve Nigeria’s export competitiveness. The framework was presented in Lagos at an event titled ‘Strengthening ECOWAS Agricultural Markets to Drive Food Security and Regional Prosperity.’ This initiative seeks to enhance Nigeria’s contribution to regional food supply, increase market efficiency, and establish the country as a key center for agricultural trade in West Africa. In a statement issued on Friday, NACCIMA Director General Olusola…

Vietnam’s durian exports reached a new record, generating more than $3.33 billion in the first 10 months of the year—a 10.4% increase from the same period last year, according to customs data. The fruit continues to be the leading source of the nation’s agricultural export earnings. China made up $3.14 billion of Vietnam’s durian exports, representing 94% of the total and marking a 14% year-on-year increase. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, stated that Vietnamese durian exports have experienced significant growth, despite stricter inspections by China for prohibited substances, driven by improved quality and…

U.S. senators on Thursday introduced a bill to prevent Nvidia from exporting its most advanced AI chips to China, according to the Financial Times. The U.S. Senate, on a bipartisan basis, introduced the Secure and Feasible Export Semiconductors Act (SAFE), which directs the Commerce Secretary to deny all licenses for exporting advanced semiconductor chips to China for the next 30 months. If enacted, the bill would effectively halt shipments of Nvidia’s latest AI chips—including the H200 and the Blackwell series—to China. The measure is intended to prevent Beijing from acquiring hardware capable of significantly advancing its AI capabilities. The bill…