Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular refineries, according to two sources familiar with the matter and an official presentation by the Economic Ministry, as reported by Reuters. The contract is part of a trade pact reached last week between Indonesia and the US, which resulted in a reduction of proposed US tariffs, from 32% down to 19%. Indonesia's Economic Minister, Airlangga Hartarto, who served as chief negotiator for the deal, revealed...
U.S. President Donald Trump's sweeping tax-cut bill, which had been stalled for days by Republican infighting over spending cuts, won approval from a key congressional committee on Sunday in a rare victory for Trump and House Speaker Mike Johnson. At an unusual Sunday night session, four hardline Republican conservatives on the House Budget Committee, who had blocked the legislation on Friday, allowed the bill to move forward as they pressed for deeper spending cuts in closed-door talks with Republican leaders and White House officials. "We've made progress this weekend ... but we didn't...
Following the publication of the high-impact China's April activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday. Productivity demand grew steadily. Employment situation generally stable.Economy grew steadily in face of pressure, continues developing in an upward trend. China actively diversifying, expanding trade with Belt and Road initiative nations.But there are many favorable conditions for sustained economic recovery. Although external impact increased in April, the trend of economic recovery did not...
President Donald Trump will impose tariffs at the rate he threatened last month on trading partners that do not negotiate in "good faith" on deals, Treasury Secretary Scott Bessent said in television interviews on Sunday. He did not say what would constitute "good faith" negotiations or clarify the timing to announce any decisions to return a country to the various rates Trump initially imposed on April 2. Trump has repeatedly reversed course since then, notably on April 9, when he lowered his tariff rates on most imported goods to 10% for 90 days to give negotiators time to hash out deals...
Waktu terus berjalan bagi UE untuk mencapai kesepakatan dengan Washington dan menghindari guncangan tarif, tetapi Capital Economics memperingatkan bahwa peluang untuk mencapai terobosan sangat kecil karena defisit perdagangan yang besar dan perpecahan internal blok tersebut mengaburkan pembicaraan. Taruhannya tinggi: jika pembicaraan gagal menghasilkan kesepakatan sebelum batas waktu 9 Juli, hampir semua ekspor UE ke AS—sekitar 70% dari total pengiriman—akan dikenakan pungutan sebesar 20%, naik dari 10% saat ini. "Kami menduga kesepakatan AS-UE tidak akan segera terjadi. AS mungkin kurang...
China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China's new interest in Canadian oil comes as U.S. President Donald Trump's trade war has strained relations between longtime allies Washington and Ottawa. It also reflects the impact of U.S. sanctions on crude from countries like Russia and Venezuela. Canada is the world's fourth-largest oil producer, but its main oil-producing province of Alberta is landlocked with...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...