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 said on Thursday that India had offered the U.S a trade deal that proposed "no tariffs". New Delhi is seeking to clinch a trade deal with the U.S. within the 90-day pause announced by Trump on April 9 on tariff hikes for major trading partners, which had included a 26% tariff on India. "It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs," Trump said in a meeting with executives in Doha. The United States is India's largest trading partner, with bilateral trade totalling some $129...
U.S. President Donald Trump said on Thursday that the United States was getting very close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms. "We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf, according to a shared pool report by AFP. "We're getting close to maybe doing a deal without having to do this... there (are) two steps to doing this, there is a very, very nice step and there is the violent step, but I don't want to do it the second way," he said. An Iranian source familiar with the negotiations...
Japan's top trade negotiator, Ryosei Akazawa, could travel to Washington as early as next week for a third round of trade talks with the U.S., two sources familiar with the plans told Reuters on Thursday. The date of his visit is still uncertain and will depend on how much progress the two countries can make in narrowing differences in staff-level talks, one of the sources said on condition of anonymity because he was not authorized to speak publicly. Japan is considering a package of proposals to gain U.S. concessions that could include increased imports of U.S. corn and soybeans,...
The world got a taste of an effective U.S.-China trade embargo, and after a breakthrough on Monday with lowered tariffs, there's no going back. China now has the "mutual respect" it has long craved from the U.S. U.S. Treasury Secretary Scott Bessent told CNBC's Joe Kernen that "there is a sense of mutual respect" during the talks, a point that U.S. Trade Representative Jamieson Greer also emphasized in his remarks to the press on Monday. That's in stark contrast to how the first high-level bilateral meeting under the Biden administration kicked off with an exchange of insults in Alaska,...
Republicans in the U.S. Congress advanced major elements of President Donald Trump's budget package on Wednesday, as key committees approved tax cuts that would add trillions of dollars to the U.S. debt, while cutting spending on healthcare for the poor and disabled. With Democrats boycotting this top priority of Trump's, Republicans relied on their majorities in the tax-writing House of Representatives Ways and Means Committee and the Energy and Commerce panel overseeing Medicaid and other healthcare programs to advance the controversial package of bills. Flexing their majority muscles,...
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.
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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...