UK surpasses China as largest buyer of expensive Australian wine | Business and economic news

The shift comes as Australia’s wine sales to China have fallen in the wake of an ongoing rift between them. Through Sybilla GrossBloomberg Published on 19 Oct 2021 When it comes to drinking Australian wine, Brits are starting to opt for more expensive options. That’s important, as sales to China plummet as a result of … Read more

Why is North Korea’s currency rising against the US dollar? | Business and economic news

In normal economies, currencies weaken in times of trouble, but something counterintuitive is happening in North Korea: prices won rise just as things get worse. Kim Jong Un’s country has been hit by the toughest sanctions in its history, massive flood damage and an unprecedented pandemic that cut off most of its trade. The economy … Read more

EU offers to ease border controls in Northern Ireland amid Brexit squabble | Brexit news

The proposal comes after the UK said its current policy towards Northern Ireland – known as the Protocol – should be torn apart. The European Union has offered to reduce customs controls and paperwork on British products destined for the province of Northern Ireland in hopes of avoiding another Brexit clash with the United Kingdom. … Read more

EU court annuls trade agreements with Morocco over Western Sahara | International trade news

Morocco did not have the consent of the people of Western Sahara necessary for the trade agreements, a European Union court has ruled. A European Union court on Wednesday annulled trade agreements between the EU and Morocco in agriculture and fisheries, saying they were negotiated without the consent of the people of Western Sahara. The … Read more

Biden considers US rival to China’s Belt & Road in Latin America | Business and economic news

The administration of United States President Joe Biden is targeting the expansion of China’s Belt & Road infrastructure into Latin America by sending an official there to explore projects, sources tell Bloomberg News. Through Jennifer JacobsBloomberg The Biden administration is considering a US-led competitor to China’s Belt and Road program for international trade and public … Read more

UAE, India aim to double trade to at least $100 billion in five years | Business and economic news

UAE, India aim to double trade to at least 0 billion in five years |  Business and economic news

The United Arab Emirates is trying to polish its credentials as a global hub for business and finance in the face of growing regional competition from Saudi Arabia. Through Sylvia Westall and Shruti SrivastavaBloomberg The United Arab Emirates and India aim to more than double non-oil trade to at least $100 billion in five years, … Read more

China asks to join Asian trade deal abandoned by Trump | International trade news

China asks to join Asian trade deal abandoned by Trump |  International trade news

Beijing has applied to join an Asia-Pacific trade pact once promoted by the US as a way to isolate China and strengthen US dominance in the region. China has submitted the formal application letter to join the Comprehensive and Progressive Agreement for a Trans-Pacific Partnership with New Zealand, according to a statement in Beijing late … Read more