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Trump signs executive order for deep-sea mining to compete with China
25 April 2025
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Stories related to finance and economics.
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Monday Commentary: “Germany is Back on Track” ……..and Europeans should be Happy about it!
14 April 2025
On Wednesday (9 April) a new coalition government was announced in Germany bringing back a CDU chancellor working with the centre-left SPD as junior partners. It is an arrangement that Germans are familiar with. Many post-war German governments were similarly constituted, and the German people are comfortable with this arrangement. It buries the prospect of the far-right Alternative fur Deutschland (AfD), which came second in recent elections, having a role in government.
The 146 pages coalition agreement was hammered out in a relatively short time, with those negotiating fully aware of the urgency of giving the country a stable government at a time of global uncertainty and serious domestic challenges. “Germany is back on track” announced the Chancellor-designate, Friedrich Merz, who is expected to take office in early May. Europeans should be happy. A strong Germany is the backbone of Europe, and the new coalition is the best guarantee of that.
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Monday Commentary: “Germany is Back on Track” ……..and Europeans should be Happy about it!
14 April 2025
On Wednesday (9 April) a new coalition government was announced in Germany bringing back a CDU chancellor working with the centre-left SPD as junior partners. It is an arrangement that Germans are familiar with. Many post-war German governments were similarly constituted, and the German people are comfortable with this arrangement. It buries the prospect of the far-right Alternative fur Deutschland (AfD), which came second in recent elections, having a role in government.
The 146 pages coalition agreement was hammered out in a relatively short time, with those negotiating fully aware of the urgency of giving the country a stable government at a time of global uncertainty and serious domestic challenges. “Germany is back on track” announced the Chancellor-designate, Friedrich Merz, who is expected to take office in early May. Europeans should be happy. A strong Germany is the backbone of Europe, and the new coalition is the best guarantee of that.
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EU greenlights first set of tariffs hitting back at US
10 April 2025
The EU on Wednesday adopted its first measures hitting back at President Donald Trump’s tariff onslaught, targeting more than 20 billion euros of US goods including soybeans, motorcycles and beauty products. The levies of up to 25 per cent are retaliation for US duties on steel and aluminium imposed last month - with Europe's response to Trump's latest tariffs salvo yet to be announced.
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Trump tariffs shock global economy
4 April 2025
Stock markets and the dollar have tumbled after US President Donald Trump's latest worldwide tariffs caused a trade war that many fear will spark recession and ramp up inflation. The dollar slumped by as much as 2.6 percent versus the euro, its biggest intraday plunge in a decade. European Commission President Ursula von der Leyen said the EU was "preparing for further countermeasures" but she emphasised it was "not too late to address concerns through negotiations". China announced on Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10 as a retaliatory measure.
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Landmark EU - Central Asia summit held in Samarkand
4 April 2025
European Commission President Ursula von der Leyen and European Council President António Costa travelled to Uzbekistan to participate in a landmark EU–Central Asia summit. Held on 3–4 April, the event brings together EU leaders with the heads of state and government of the five Central Asian republics. Alongsidei the host, Uzbek President Shavkat Mirziyoyev, the summit was also attended by Kazakh President Kassym-Jomart Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, and Turkmen President Serdar Berdimuhamedov.
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Russia warns Armenia of high economic price if it pursues EU membership
31 March 2025
Accession to the EU is incompatible with Armenia’s continued membership in the Eurasian Economic Union, a Russian-led trade bloc that gives it tariff-free access to Russia’s vast market, according to Russian Deputy Prime Minister Aleksei Overchuk. Armenia would also have to pay much more for Russian energy resources and food, Overchuk said. Last week, the Armenian Parliament adopted a bill calling for the government to seek accession to the EU, representing a significant shift in Armenia’s foreign policy perspective away from its long-time ally Russia.
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Charles Michel warns of potential new trade war at the 12th Global Baku Forum
14 March 2025
Speaking at the 12th Global Baku Forum, the former President of the European Council, Charles Michel warned that a potential trade war could stem from events originating in the White House but Europe must remain focused on further strengthening its economy. He also highlighted that the US plays an important role in Europe's security and that more investment should be made in institutional development. The Global Baku Forum is organized by the Nizami Ganjavi International Center under the patronage of Azerbaijan President Ilham Aliyev.
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EU Commissioner Síkela visits Central Asia to promote development projects in the region
12 March 2025
Between 12 and 18 March, European Commissioner for International Partnerships Jozef Síkela will visit the five Central Asian countries to strengthen the EU-Central Asia partnership ahead of the EU-Central Asia Summit and scale up Global Gateway, the EU’s investment strategy to boost jobs and sustainable economic growth.
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Mali suspends artisanal gold mining permits for foreign companies after series of accidents
11 March 2025
Mali said it was suspending licenses for foreign artisanal gold mining companies after a series of fatal accidents in the West African country, one of Africa’s top three gold producers. Gen. Assimi Goita, president of Mali’s transitional government, ordered “the suspension of artisanal mining permits granted to foreigners,” according to a statement issued following a Council of Ministers meeting which was read out on the national television station ORTM.