Saudi Arabia has stopped transferring oil through a major pipeline after it was attacked by drones.Meanwhile, Houthi forces have taken control of a strategic port and island in Bab el-Mandeb from Yemeni government forces.Iran, which backs the rebels, says it had nothing to do with the attacks. Keywords for this article Source link
BYD posted its first quarterly profit increase in more than a year, with second-quarter net profit rising 29.8% to 8.2 billion yuan ($1.22 billion) as a record surge in exports offset a weak Chinese market. The rebound ends four straight quarters of profit declines and reverses the 55.4% collapse BYD reported just three months earlier. The quarter turned, but the first half is still down Despite the Q2 recovery, BYD’s first-half results remain lower year-over-year. Revenue for the six months through June fell 7.13% to 344.82 billion yuan ($50.9 billion), and net profit attributable to shareholders dropped 20.54% to 12.33 billion yuan, according to the company’s stock exchange filing. BYD blamed the revenue decline on weakness in its new energy vehicle (NEV) business, compounded by foreign-exchange losses tied to currency swings as it expands abroad. Advertisement – scroll for more content Automotive and related products generated 275.34 billion yuan in the first half, down 8.98% and accounting for 79.85% of group revenue. The electronics division rose 0.96% to 69.41 billion yuan. Exports are doing the …
A partnership between French experts and Ethiopian winemakers is putting East Africa on the viticultural map. Using seeds imported from Bordeaux, and after years of refining, exports are now on the rise. Domestically, Ethiopians are also consuming more and more of their local product. Our correspondent Tom Canetti went to meet a French-Ethiopian winery in central Ethiopia. Keywords for this article Source link
SINGAPORE, Aug 20 (Reuters) – Chinese exports of rare earth yttrium to the U.S. rose in July, Chinese customs data showed on Thursday, possibly giving some reprieve to U.S. aerospace buyers who depend on the material for critical aviation applications. China, the main source of the element used in specialty alloys found in engines as well as coatings to shield against high temperatures, restricted exports along with other rare earths in April 2025, sparking fears of a new rare earth crisis. But the country’s exports to the U.S. of 29 metric tons of yttrium oxide last month were the second-highest since China introduced export controls on the rare earth. The shipments come as Chinese President Xi Jinping prepares to visit the White House for trade talks later in September. China produces the vast majority of the world’s rare earths, and has used controls on their export as a potent diplomatic tool. By contrast, exports of the material and other strategic goods to Japan remain tightly constrained. Japan, once among the world’s largest buyers of Chinese …
Authored by James Gorrie via The Epoch Times, Is Beijing hoping to turn other authoritarian societies into digital Chinas? China’s rise as the world’s leading exporter of surveillance technology is yielding some disturbing results. Beijing’s surveillance export packages comprise an entire technological architecture that can give governments an unprecedented ability to see, identify, and track their populations. Those technologies include cameras, artificial intelligence, telecommunications networks, cloud computing, facial recognition, license-plate recognition, and centralized command systems. Many mid-sized countries are becoming or are already customers. Turning Other Nations Into ‘Little Chinas’ Turkey is an important case study. To be clear, Turkey has not yet become a Chinese-style surveillance state. Its political system and institutions remain different from China’s. That said, Chinese technology companies have established a significant presence in Turkey’s digital infrastructure, and they’re not shy about it. In fact, Huawei has explicitly marketed its AI-powered CCTV and “Safe City,” i.e. surveillance technologies, in the Turkish market. It’s no mystery that China wants to sell as much merchandise to as many trading partners as possible. But …
By Charles Kennedy of OilPrice.com, India is on track to export the highest volume of refined petroleum products in months as refining margins have jumped with the re-escalation of the Middle East conflict. India is estimated to ship as many as 1.55 million barrels per day (bpd) of light and middle distillates in July, per data by commodity analysts Kpler cited by Reuters columnist Clyde Russell. The July volumes would be nearly double the fuel export volumes of just 866,000 bpd in May, when the Strait of Hormuz crisis hit crude supplies to India and the rest of Asia. In May, India saw its lowest fuel exports in four years. The tightening fuel markets in Asia and the rest of the world added to a renewed rally in refining margins after the U.S.-Iran ceasefire collapsed two weeks ago. This has encouraged Indian refiners to ramp up refined petroleum exports. The expected volumes in July would be the second-highest level in Kpler’s data series dating back to 2017. Earlier this month, Kpler estimated that India’s refined petroleum exports would hit …
Micheál Martin said the probe was ‘almost complete’ and the results would be shared with the European Commission. Source link
House lawmakers on Tuesday grilled the Trump administration official tasked with overseeing the country’s export controls, pressing him on the White House’s track record on advanced AI chip sales. Jeffrey Kessler, who serves as head of the Bureau of Industry and Security (BIS), appeared before the House Foreign Affairs Committee to discuss the bureau’s budget… Source link
China has abruptly banned helium exports, a key component in semiconductors, which adds yet another serious constraint to a global market already reeling from the loss of production in Qatar. In a two-sentence Friday announcement, China’s Ministry of Commerce and General Administration of Customs said helium covered by customs code 2804290010 was subject to a temporary prohibition on exports, effective immediately. The agencies cited China’s Foreign Trade Law but provided no explanation, expiration date, transition period or exemptions. Any future adjustments, they said, would be announced separately. See the official Chinese government announcement. The decision is more restrictive than an export-licensing requirement. It appears to prevent covered shipments to all foreign destinations, regardless of buyer or intended use. The announcement does not explain how customs officials will treat previously signed contracts, cargo awaiting departure or helium originally imported into China and subsequently repackaged for re-export. Nor does it carve out exceptions for hospitals, scientific laboratories, semiconductor manufacturers or humanitarian users. The physical volume removed from the international market may be relatively small. China accounted for …
MOSCOW, July 8 (Reuters) – Russia introduced a ban on diesel exports on Wednesday as part of a raft of measures to support the domestic fuel market after systematic Ukrainian drone attacks on oil refineries triggered shortages and price spikes in some regions. Drivers in many regions are facing hours-long lines to refuel, as intensifying Ukrainian strikes on Russian energy infrastructure squeeze supplies of diesel and gasoline. Deputy Prime Minister Alexander Novak told a televised government meeting that the fuel situation remained complex and that “it is clear that the current situation at filling stations is causing concern among the public.” “Today, a ban on diesel fuel exports was introduced, and this will make it possible to increase supplies to the domestic market,” he said, adding that Russia would start importing fuel in July. The government said the ban, which includes producers of the fuel, will be in place until July 31. Benchmark European diesel margins rose to a record $60.17 per barrel after Russia banned exports. In June, Turkey and Brazil remained the dominant buyers, …
