The 14th Straits Forum will be held in Fujian from July 12.
Zhu Fenglian, spokesperson of the Taiwan Affairs Office of China, said on July 7 that the 14th Straits Forum will be held in Fujian from July 12. The main venue is located in Xiamen , and the forum will be held on July 13th. Vice Chairman of the Chinese Kuomintang Xia Liyan will participate in the opening ceremony of this year's forum via video.
According to CCTV news reports, the preparations for the forum are basically in place. The forum organizing committee invited representatives from Taiwan’s relevant political parties and organizers, as well as industry elites, community leaders, workers, young women, towns and villages, agriculture, fishery, water conservancy, folk beliefs and other guests from all walks of life to attend forum-related activities in different ways.
Zhu Fenglian said that this forum continues the theme of "expanding non-governmental exchanges and deepening integrated development" and adopts a combination of online and offline, centralized and decentralized methods to arrange the forum conference and four major sections of youth exchange, grassroots exchange, cultural exchange, and economic exchange 43 There were 12 events organized by districts and cities, and about 2,000 Taiwanese guests attended the forum offline.
The construction of the world's largest hydro-solar complementary power station started in China
htmlOn July 8, the construction of the world's largest hydro-solar complementary power station, the Kola Photovoltaic Power Station in Yalong River, Sichuan Province, officially started. The total investment in the power station is 5.3 billion yuan, with more than 2 million photovoltaic modules. After all the power is put into operation, it will reduce carbon dioxide emissions by more than 1.6 million tons per year.According to CCTV News, the Kola Photovoltaic Power Station is located in Yajiang County, Garze Prefecture, Sichuan Province. The project is located on the Western Sichuan Plateau at an altitude of 4,000 meters to 4,600 meters, covering an area of approximately 16 square kilometers, equivalent to the area of 80 bird's nests. The power station has an installed capacity of 1 million kilowatts, a total investment of 5.3 billion yuan, and more than 2 million photovoltaic modules. Through a 500 kV transmission line, the Kola Photovoltaic Power Station is connected to the Lianghekou Hydropower Station, which was just connected to the grid in March this year, to achieve water-to-solar complementarity.
Qi Ningchun, chairman of Yalongjiang Company of SDIC, said:
“After the power station is fully put into operation next year, it will be able to provide 2 billion kilowatt hours of clean electricity every year, which is equivalent to saving over 600,000 tons of standard coal and reducing carbon dioxide emissions by over 160%. million tons.”
Hong Kong’s mangoes imported from Taiwan were tested positive for the new coronavirus
A spokesman for the Center for Food Safety of the Hong Kong Food and Environmental Hygiene Department said on July 6 that in response to mango samples imported from Taiwan testing positive for the coronavirus disease 2019 in Macau, the center We have immediately stepped up testing of similar products. On the 6th, we received a test report from the Department of Health. A surface sample of mangoes imported from Taiwan tested positive for the COVID-19 virus.
According to the Hong Kong government website, in response to the recent relevant test results in Macau, the center immediately contacted the Macau authorities to follow up and strengthened testing. During this period, a batch of 33 boxes (total weight of about 200 kilograms) of mangoes imported from Taiwan was seized and inspected, and samples were taken. Nine samples were tested, and laboratory results showed that one mango surface sample tested positive for the virus. After
learned of the test results, the Center immediately instructed the relevant distributors to stop selling and removing the affected products from shelves, and to destroy all the mangoes in the batches involved. In addition, the center has also dispatched personnel to inspect the relevant warehouses and required the person in charge to conduct thorough cleaning and disinfection. The center will continue to strengthen the testing of similar products in the future.
The RMB has become the leader in the growth of foreign currency cash sales in Russia for the first time
Russian Satellite News Agency, Moscow, July 7 (Xinhua) The Russian Open Bank Press Office issued a press release stating that the RMB has become the leader in the growth of foreign currency cash sales in Russia for the first time.
Open Banking's retail customers have increased their purchases of cash in foreign currencies other than U.S. dollars and euros since purchase restrictions were lifted on May 20, according to the bank's data.
The press release stated: "The yuan has become the leader in the growth of cash sales, with demand for it increasing sevenfold, significantly surpassing European and emerging market currencies."
According to the Russian Central Bank regulations, Russia has implemented special sales of US dollars and euros. system. Before September 9, 2022, only dollars and euros received by banks from April 9, 2022 can be purchased.
Chinese enterprise representatives: China and Russia will develop cooperation in the field of metallurgy
Russian Satellite News Agency, Moscow, July 6. Zhang Bing, general manager of China TCT&MANZE Group, told Sputnik News Agency at an event held by the Russia-China Friendship, Peace and Development Committee, Chinese companies are very interested in starting and developing cooperation with Russian metallurgical companies.
Zhang Bing pointed out that China is a major steel producer and a major consumer of steel. China is both a major exporter and importer of steel. China accounts for 53% of total global crude steel production in 2021. There are 6 Chinese companies among the world's top 10 companies in this industry, and 23 Chinese companies among the top 50 in the world.
She said: “When the finished steel products and semi-finished products produced by many Russian steel companies cannot be exported to Europe as usual due to sanctions, the Chinese market is undoubtedly one of the important markets worthy of attention and consideration for Russian steel production companies. "The United States and the European Union have previously banned the import of goods from the Russian metallurgical industry.
Zhang Bing believes that it is absolutely possible to exchange experience with colleagues in the Russian metallurgical industry in all aspects such as R&D, design, manufacturing equipment, and machining, share technological dividends and R&D results, and promote the common prosperity and development of Russian-Chinese metallurgical technology.
She said that China's steel industry itself has experienced a life cycle of rapid development. The scale of steel production ranks first in the world. It is now advancing in the direction of integration, industry structure optimization, intelligent and green development. In the field of metallurgy, China has already It has formed its own rich, relatively complete and complete technology and industrial equipment manufacturing system. The market size of China's steel industry has grown from RMB 4.21 trillion in 2018 to RMB 4.29 trillion in 2021.
Zhang Bing said that the goods that Chinese companies intend to export to Russia include metal heat treatment and processing machine tools, equipment systems, and very complete specifications, such as heat treatment furnaces, laser cutting , lathes, milling machines , drilling machines, wire drawing machines, etc. The equipment is very cost-effective. According to her, there is a lot of room for cooperation. In addition, Chinese companies are very interested in cooperating with Russian steel companies in the design or upgrading of production lines for electric furnaces, continuous casting, and continuous rolling, or the replacement of spare parts in some links.
She said that cooperation between Chinese companies and Russian companies has never been interrupted, and cooperation will definitely be further deepened, strengthened and expanded in the future. As a Chinese enterprise that has set up a branch in Russia, we are always ready to exchange technical and commercial solutions with our Russian partners.
Russia’s Primorsky Territory Government: China is the main foreign investor in the region
Russian Satellite News Agency, Moscow, July 7 (Xinhua) The Press Office of the Primorsky Territory Government of Russia quoted the words of the Chairman of the Primorsky Territory Government, Shcherbina, as saying that China is currently Nearly 7 billion rubles have been invested in Primorsky Krai, and China's investment proportion is close to 50% of the total foreign investment.
Shcherbina said: "In terms of actual investment scale, China ranks first among the foreign companies involved in the implementation of the Vladivostok Free Port and Primorye Advanced Development Zone projects. Chinese capital participates in 43 projects , with a total investment of nearly 7 billion rubles, accounting for 46% of all actual foreign investment.”
She also said that for more than 20 years, Primorye Krai has maintained cooperation with China in the development of agriculture, trade, education and scientific research.
Primorsky Krai is an important transit station for railway transportation from China to western Russia and Belarus . At the end of June this year, a new container train from Vladivostok to Minsk was successfully opened.
Consulate General of Russia in Harbin: Russia has risen to China’s second largest supplier of seafood
Russian Satellite News Agency, Beijing, July 7 According to the Consulate General of the Russian Federation in Harbin, Russia has risen to second place in China’s seafood import structure. From January to May 2022, exports of fish and seafood to China increased by 54.1%.
news said: "Russia has become one of the leaders in supplying seafood to China. From January to May 2022, Russia's exports of fish and seafood to China reached US$930 million, accounting for 13.9% of China's total imports ."
news pointed out that in this indicator, Russia ranks second, second only to Ecuador.
The Consulate General said: "In the past ten years, Russia's fish and seafood exports to China have grown by an average of 3.7% per year, and at the beginning of this year In five months, we saw a dramatic increase of 54.1%. "
Consulate General of Russia in Harbin: Eight regions of China and Russia intend to expand economic and trade cooperation
Russian Satellite News Agency, Beijing, July 7 (Xinhua) The Consulate General of the Russian Federation in Harbin issued a statement on the 7th stating that eight regions of Russia and China expressed their views. Intention to expand economic and trade cooperation.
stated: “The eight regions of Russia and China intend to expand economic and trade cooperation. ”
htmlOn July 6, the Amur Oblast, Sakhalin , Jewish Autonomous Oblast , Kamchatka Krai , Primorsky Krai and Khabarovsk Krai as well as Heilongjiang and Guangdong Provinces in China Representatives held two large-scale economic and trade cooperation and development events via video conference.After the event, “48 Russian and Chinese companies signed commercial documents, and about 200 companies expressed their desire to continue communication in B2B negotiations. "
The Consulate General added: "Russian Consul General in Harbin Vladimir Oshepkov delivered a speech at the opening ceremony and summarized the results at the closing ceremony of the event, pointing out that in order to complete the lofty tasks assigned by the leaders of the two countries, there are It is necessary to strengthen interaction, find new ways of cooperation, and show flexibility and creativity. "
BRICS countries will promote joint research in 5G/6G, artificial intelligence, blockchain, quantum computing and other fields
China's Ministry of Industry and Information Technology announced that on July 6, the 8th BRICS The Communications Ministers' Meeting was held via video. All parties will improve the level of interconnection among BRICS countries and promote joint research in 5G/6G, artificial intelligence, blockchain, quantum computing and other fields. Xiao Yaqing, Minister of Industry and Information Technology of China, presided over the meeting. The Ministry of Industry and Information Technology is willing to work hand in hand with the communications authorities of the BRICS countries to implement the outcomes and consensus of the leaders’ meeting, further consolidate the BRICS strategic partnership, deepen practical cooperation in the field of information and communications among the BRICS countries, and continuously strengthen mechanism building to achieve
Xiao Yaqing emphasized that China is willing to work with all parties to adhere to inclusiveness, improve the level of connectivity among BRICS countries, accelerate the development of new information infrastructure, promote the construction of international submarine and land cables, and promote . The development achievements of digital technology are accessible to more people.
adheres to the innovation drive and cultivates an innovative network of efficient collaborative linkage between industry, academia and research, and an innovation ecosystem for the integrated development of large, medium and small enterprises, focusing on 5G/6G, artificial intelligence and blockchain. , quantum computing and other fields to carry out joint research to stimulate economic growth potential.
adheres to digital empowerment, accelerates the digitalization, networking, and intelligent transformation of traditional industries, helps the manufacturing industry improve quality, reduce costs, increase efficiency, and promote green and safe development. The digital economy thrives.
adheres to open cooperation, strengthens position coordination under multilateral frameworks such as the International Telecommunications Union , explores the formulation of international rules for digital governance that reflect the wishes of all parties and respects the interests of all parties, and jointly create an open, fair, just and non- Discriminatory digital development environment.
China Ministry of Commerce: The economic and trade teams of China and the United States agreed to maintain close communication and strengthen exchanges
Chinese Ministry of Commerce spokesperson Shu Jueting said at a press conference on July 7 that the economic and trade teams of China and the United States agreed. Maintain close communication, implement the consensus reached by the leaders, strengthen exchanges on macroeconomic policies, and promote pragmatic cooperation in the economic and trade field.
Shu Jueting said in response to reporters’ questions that on the morning of July 5, Vice Premier Liu He was invited to meet. Treasury Secretary Yellen held a video call. The two parties had a pragmatic and candid exchange of views on the macroeconomic situation, the stability of the global industrial chain and supply chain, and the exchange was constructive. The two sides believed that the current world economy is facing severe challenges and strengthened cooperation. Communication and coordination of macro policies between China and the United States are of great significance. Jointly maintaining the stability of global industrial and supply chains is beneficial to China and the United States and the entire world.China has expressed its concerns about the United States’ lifting of additional tariffs and sanctions on China and its fair treatment of Chinese companies.
Shu Jueting said: "The economic and trade teams of both sides agreed to maintain close communication, implement the consensus reached by the leaders, strengthen exchanges on macroeconomic policies, and promote practical cooperation in the economic and trade field. If there is further news, we will release it in time."
United States " Wall Street Journal predicts: U.S. stocks will struggle to reverse their decline in the second half of the year
Reference News Network reported on July 5 that the U.S. "Wall Street Journal" website published an article on July 2, pointing out that the U.S. stock market performed poorly in the first half of the year and may continue to deteriorate in the future. The full text is excerpted as follows:
2022 is already halfway through, but the market is starting to worry that we haven’t even encountered half of the bad news this year.
The first six months of the year have been full of surprises: inflation , the biggest bond sell-off in 40 years, a historically rare tech stock rout, and a cryptocurrency implosion.
The looming risk that investors have ignored for months is recession. But whether the economy will decline or improve is still unknown.
While investors are ultimately focused on recession uncertainty, risks elsewhere in the world could also weigh on U.S. investors.
International Energy Agency: Global natural gas demand growth may slow down significantly
According to foreign media reports, the latest quarterly report on the natural gas market released by the International Energy Agency on the 5th showed that due to factors such as soaring prices, reduced supply and economic weakness, this year Global natural gas demand will decrease slightly and increase slowly before 2025, but the growth rate will be significantly lower than previous forecasts.
A report released by the International Energy Agency on the 5th said that in the second half of 2021, the natural gas market will experience rising prices and tight supply, and the outbreak of the Ukrainian crisis this year has further aggravated this trend. This puts natural gas demand under tremendous pressure. The
report predicts that global natural gas demand this year is expected to shrink by 0.5% compared with 2021 levels; by 2025, global natural gas demand is expected to increase by only 140 billion cubic meters compared with 2021, while the annual growth of and in 2021 will reach 175 billion cubic meters .
The agency’s forecast for natural gas demand growth by 2024 has been reduced by 60% compared with the previous forecast.
The International Energy Agency said that the current record high prices and supply disruptions are damaging the image of natural gas as a reliable and affordable energy source and making its development prospects face huge uncertainty, especially in developing countries, where natural gas was originally expected to Play an important role in meeting rising energy demand and achieving energy transition goals.
Demand is soaring, and U.S. coal prices hit record highs
According to foreign media reports, on July 5, local time, the U.S. Energy Information Administration released data showing that the spot price of coal in the Illinois Basin soared to 190.25 per short ton in the week ending July 1. The U.S. dollar is close to its highest high of $190.55 in early April this year when it exceeded $100 for the first time since records began in 2005. Central Appalachian coal prices also jumped to $168.05 per short ton, the highest level since records began in 2005. Data from
shows that both Appalachian and Illinois coal prices have exceeded their peak levels in 2008, when supply disruptions elsewhere in the world boosted demand for U.S. coal. When Illinois coal prices hit a record in April this year, coal prices in central Appalachia also hit a new high since late 2008, breaking through the $100 mark for the first time since late 2008.
Currently, U.S. coal prices have risen rapidly due to rising summer temperatures, increased global electricity demand, and limited coal fuel supply. On the supply side, the crisis in Ukraine has disrupted energy markets, and power generation companies around the world are struggling to ensure power supply with coal and natural gas. On the demand side, U.S. coal producers have been closing coal mines in large numbers over the years and are now struggling to meet soaring consumption demand.
Currently, in the global coal export market, Russia, as a major exporter, is ahead of Australia and Indonesia , with a market share of 18%. Russian coal exports to Europe amount to 8 billion euros per year.The U.S. energy department predicts that due to the EU embargo starting in August, Russian coal production will be 365.1 million tons in 2022, a 17% decrease from 2021, and exports will drop to 156 million tons.
In recent years, many European countries have vigorously developed new energy sources, and the proportion of coal power in the energy structure has continued to shrink. However, as Russia's natural gas supply has been significantly reduced, European countries such as Germany, Austria, Greece, Netherlands have recently announced that they will reopen coal power plants or take measures to support coal power.
Analysts believe that European countries’ switch to coal power is a helpless move. Russia is the EU's largest supplier of natural gas and crude oil. After the outbreak of the Ukraine crisis, the EU continued to escalate sanctions against Russia, exacerbating energy shortages in European countries. Professionals point out that switching to coal power will disrupt the new energy development plans of European countries and will also have an adverse impact on the EU's goal of achieving carbon neutrality by 2050.
European natural gas trading prices rose above $1,900 for the first time since March
Intercontinental Exchange (ICE) data showed that European natural gas prices rose above $1,900 per 1,000 cubic meters for the first time since March 9, an increase of 7%.
European natural gas trading prices have doubled in a month. On June 7, the latest (July) futures settlement price of was US$880.8. After that, the price exploded to nearly $1,300, approaching $1,600 by the end of June, before reaching $1,800 in early July for the first time since March.
Natural gas prices reached an all-time high four months ago - setting a record price of $3,892 on March 7.
The sentiment of market participants is now affected by the risk of Russia supply cuts. Gazprom plans to shut down the "Nord Stream" natural gas pipeline from July 11 to 21 to carry out planned technical maintenance on the pipeline. If gas is not supplied through other routes, this may exacerbate the shortage of natural gas in the European market.
Annual sales of EU geographical indication protected products amount to 74.76 billion euros
European Union Intellectual Property Office official website news on June 30: Geographical indications (GIs) are important economic assets of the EU and an integral part of the EU intellectual property system. According to research by the European Union Intellectual Property Office (EUIPO) and the European Patent Office (EPO), GI rights-intensive industries provide nearly 400,000 jobs in the EU and contribute more than 20 billion to the EU's GDP (GDP) EUR. In addition, a study published by the European Commission showed that products protected by GI have annual sales of 74.76 billion euros, one-fifth of which comes from exports outside the EU.
technology and industrial product fields. On April 13, the European Commission proposed the first-ever non-agricultural geographical indication protection framework to protect the intellectual property rights of European crafts and industrial products. The framework will cover products such as Murano glass, Donegal tweed, Limoges porcelain, Solingen tableware and Boleslavice pottery. These products rely on the originality and authenticity of the traditional practices of their region. EUIPO will be responsible for evaluating and approving GI applications for such products.
German media: Germany's plan to replace Russian natural gas failed
Russian Satellite News Agency Berlin July 6 According to the German "Bild" news, Germany and German Economy Minister Habeck's own plan to replace Russian natural gas failed due to the lack of LNG ships suffered failure.
Experts told the newspaper that Germany will face a "serious natural gas crisis" in winter. Habeck's plan to replace Russian gas aims to ship LNG to Germany by sea. The German Federal Network Agency plans to import 13 billion cubic meters of natural gas in the first half of 2023 to partially replace Russian natural gas. "Bild" quoted a representative of the German Shipowners Association (Reeder-Verband) as saying that a shortage of transport ships led to the failure of the plan.
A representative of the German Shipowners Association said: "There are no ships in the German merchant fleet that can transport liquefied natural gas over long distances. There are nearly 500 liquefied natural gas ships available around the world, but there is great demand in other parts of the world."
The German Ministry of Economic Affairs earlier Plans were also announced to lease three floating LNG terminals. However, according to Bild, so far, only one similar platform has obtained an operating license.
Russia After the start of the special operation to Ukraine demilitarize, the EU has imposed six rounds of sanctions on Russian individuals, entities, financial sector and energy sector. The sixth round of sanctions includes a partial oil embargo and sanctions on Russian tankers, banks and media. Currently, the EU is drafting the seventh round of sanctions against Russia. Some EU member states have expressed the hope that the new sanctions will include an embargo on Russian natural gas.
Previously, Russian President Vladimir Putin stated that the policy of containing and weakening Russia is the West's long-term strategy, and its sanctions have dealt a heavy blow to the world economy.
British media: Norwegian workers' strike exacerbates supply woes. The UK may be "cut off"
Reference News Network reported on July 6. According to a report on the British "Financial Times" website on July 5, Norway warned that if the workers' strike escalates, this Up to 60% of the Scandinavian country's natural gas supplies will be affected, so the country's gas exports to the UK may be disrupted this weekend.
reported that since the strike began on the evening of the 4th, Statoil Company has closed three oil and gas fields. The strike comes as workers demand higher wages to offset rising inflation.
Norwegian Gas Transport Management Company said on the 5th that "the worst case scenario is that natural gas supply to the UK may completely stop" because striking workers plan to extend the scope of the shutdown to an important distribution center that exports natural gas to the UK on Saturday.
Norway is the UK's largest source of natural gas, with imported Norwegian gas exceeding domestic production for the first time last year, meeting 42% of the UK's total demand, according to the British Offshore Energy Association, an industry group. Norway's supply accounts for about 25% of Europe's total natural gas supply. The
report noted that supply shortages have caused natural gas prices to surge in Europe, sharply increasing costs for businesses and households. European benchmark natural gas prices rose 6% on Tuesday to 167 euros per megawatt hour, their highest level since early March and five times higher than a year ago, before falling slightly later. The UK contract for next day delivery rose 16% to 265 pence per Sam.
French media: Turkey -year annualized inflation rate reached 78.6%, the highest point in 24 years
Reference News Network reported on July 4. According to AFP Istanbul, data released by the Turkish National Bureau of Statistics on the 4th showed that the country Annualized inflation soared to 78.6% in June, the highest level since 1998. The country's inflation rate in May was 73.5%.
HSBC raised its 2022 Vietnam GDP growth forecast to 6.9%
Vietnam News Agency reported on July 6 that the July 2022 "Vietnam Quick Report" (Vietnam at a glance) just released by HSBC Global Research has been updated. Key forecasts for the Vietnam market. HSBC raised Vietnam's GDP growth forecast for 2022 to 6.9% from the previous 6.6%, and lowered its growth forecast for 2023 from 6.7% to 6.3%. HSBC said that the risks posed by the Omicron variant strain are disappearing and the relaxation of restrictions has laid the foundation for Vietnam to return to normal. The
report shows that Vietnam’s economic recovery has performed well in the region after two quarters of reopening. In the second quarter, GDP increased by 7.7% year-on-year, easily exceeding market expectations. This is Vietnam's highest quarterly GDP growth since 2011. Since Vietnam lifted restrictions in mid-March, tourism-related industries, especially transportation and accommodation, are booming. At the same time, retail sales increased by 17% year-on-year in the second quarter, indicating that household consumption is beginning to recover. The unemployment rate also fell to 2.3% in the quarter, and the number of jobs continued to grow, approaching pre-pandemic levels.
In addition to the gradual recovery of domestic demand, production has also grown steadily. In the second quarter of 2022, Vietnam's production increased by more than 25% year-on-year; exports increased by more than 20% year-on-year. In addition, the textile and apparel, footwear and machinery industries all experienced growth.
But HSBC said that although overall growth was optimistic, the impact of high energy prices on Vietnam was increasingly obvious. On the one hand, rising goods prices led to an increase in the trade deficit in the second quarter of this year. On the other hand, high oil prices will affect residents' spending and slow down the recent recovery. Although it is still at a controllable level, price pressure has begun to appear.HSBC also expects that Vietnam’s inflation may exceed 4% from the fourth quarter of this year to the second quarter of 2023, requiring the National Bank to begin normalizing monetary policy.
Algeria non- hydrocarbons exports exceeded US$2 billion from January to April 2022
Algeria's Aven mainstream media "Dawn" published on June 17 titled "Algeria's non-hydrocarbon exports from January to April 2022" Exceeding 2 billion U.S. dollars" report, the full text is excerpted as follows:
html On June 16, Abdellatif El-Hawary, deputy director of the Export Follow-up and Support Department of the Ministry of Trade, told the media that Algeria’s non-hydrocarbon exports from January to April 2022 were the same as last year. An increase of 82% compared to the same period. Although some products were banned from export, total non-hydrocarbon exports still amounted to US$2.2 billion.He said that Algeria is determined to increase exchanges with other Arab and African countries, especially considering that the African Continental Free Trade Agreement will come into effect in early July this year.
He believes that due to the short distance, the African market prospects are promising. Exports in the first six months of 2021 reached US$300 million, of which US$150 million of products were exported to West African countries, especially border neighbors.
5 Kuwait CPI index continued to rise
"Arab Times" reported on July 5, Kuwait Central Bureau of Statistics (CSB) data, Kuwait's consumer price index (CPI) in May 2022 rose 4.52% year-on-year.
CSB revealed that except for tobacco prices, which were basically flat year-on-year, the prices of other daily consumer goods for residents generally increased. Among them, food and beverage prices increased by 8.23%, hotels and restaurants increased by 2.77%, clothing and footwear increased by 6.37%, and services and groceries increased by 3.21%. Transportation increased by 4.9%, communications increased by 2.29%, entertainment increased by 3.88%, medical and health increased by 1.78%, housing maintenance increased by 2.26%, and furniture and household facilities maintenance increased by 2.27%. The largest increase was in education, reaching 18.95%.
Bahrain Exchange and Abu Dhabi Exchange launch GCC first digital exchange
According to Bahrain "Daily Forum" reported on July 6, Bahrain Stock Exchange (BHB) and Abu Dhabi Securities Exchange (ADX) has launched the Tabadul Trading Hub, the first digital trading platform in the Gulf Cooperation Council (GCC), aiming to promote market and economic ties between the two countries. The launch of
Tabadul is based on the strategic cooperation agreement signed by BHB and ADX in November 2021: to strengthen cooperation between the two parties, improve the liquidity of the two markets, and promote cross-market transactions. The Tadawul platform provides an integrated system that provides a trading network between regional and international stock exchanges. The platform allows offshore investing between Bahrain Exchange and Abu Dhabi Exchange, allowing investors to trade directly through licensed brokers in both markets.
Global Sukuk issuance will decline in 2022
According to a report by the UAE's "National News Network" on July 6, S&P Global Ratings predicts that global Sukuk issuance will decline to US$130 billion in 2022, lower than the expected 1,500 billion dollars.
S&P Global Ratings said Sukuk issuance in local and foreign currencies fell to $74.5 billion in the first half of 2022, compared with $93.3 billion in the same period in 2021. As borrowing costs continue to rise as global interest rates rise and issuers' financing needs fall, global Sukuk issuance will fall by about 12% this year, with total issuance for the year expected to be about $130 billion, down from $147.4 billion in 2021 , also lower than the expected $150 billion.
Sukuk issuance activity fell across most core Islamic financing markets, but a few countries such as Turkey, Bahrain and the United Arab Emirates had "slightly higher volumes".
Namibia's trade deficit reached N$4.6 billion in May
Namibia's "Sun" reported on July 6 that data from the Namibia National Bureau of Statistics showed that Namibia's exports in May 2022 were N$5.7 billion (approximately US$360 million). The net export volume decreased by N$300 million month-on-month and increased by N$2 billion year-on-year. The import volume for the month was N$10.2 billion (approximately US$640 million), an increase of N$200 million month-on-month and an increase of N$3.6 billion year-on-year. In the past 12 months, the average monthly trade deficit in Namibia has reached N$3 billion. Reports and comments stated that the continued trade deficit will have an adverse impact on Namibia's GDP, employment rate and domestic income.In May, the top five export markets of Namibia were Botswana, South Africa, Zambia, the Netherlands and the Democratic Republic of the Congo, accounting for 66.7% of total exports. The top five import sources are South Africa, India, China, Peru and Bahrain.
EU and Namibia are negotiating a green hydrogen agreement
Comprehensive Namibia's "Sun" and "New Times" reported on July 6 that the EU and Namibia are negotiating to reach a green hydrogen agreement before the United Nations Climate Change Conference (COP27) in November. . Obeth Kandjoze, director of the State Planning Commission, said that Namibia and the European Union are formulating a memorandum of understanding on green hydrogen and green ammonia, and hopes that Namibia can benefit from this in terms of solar, wind energy and other infrastructure and seaport construction. EU sources said they also hope to make progress in acquiring nano-resources and launching geological projects. On July 5, Rainer Baake, the German government’s special envoy for green hydrogen affairs, visited President Geingob to exchange views on Dana’s cooperation in the field of green hydrogen. Ba said that Germany is willing to support Namibia's ambition to develop large-scale, low-cost renewable energy and will support it by establishing a sustainable model that can maximize fiscal revenue. As the EU sets emission reduction targets for various industries, nano-clean energy is expected to gain a stable market in Europe. Currently, the German government has agreed to invest more than N$685 million (€40 million) in the field of nano-green hydrogen.
The Secretary-General of the African Continental Free Trade Area called for accelerating the promotion of economic integration
Tanzanian mainstream media "The Guardian" and "The Citizen" reported on July 4 that on the 3rd, the Secretary-General of the African Continental Free Trade Area (AfCFTA) Wemkele· Menne said at the 46th Dar es Salaam International Trade Expo that in the past few decades, Africa has been overly dependent on the export of primary products to developed countries. At present, African countries must work together to achieve economic integration, otherwise Africa will not be able to gain sufficient global competitiveness and will always be on the edge of the global economy. AfCFTA is a tool for African economic integration and industrialization and will effectively consolidate a market of 1.3 billion people, which is expected to be close to US$8 trillion by 2025. Countries should ensure that 97% of goods traded within the continent are tariff-free by 2035. Kijazi, Minister of Investment, Industry and Trade of Tanzania, said that Tanzania is ready to continue producing high-quality products and seize the opportunities of the African Continental Free Trade Area to meet the needs of African and global markets.
Ambassador to Jamaica Chen Daojiang paid a courtesy visit to Jamaican Minister of Transportation and Mines Audley Shaw
htmlOn July 6, Ambassador to Jamaica Chen Daojiang paid a courtesy visit to Jamaican Minister of Transportation and Mines Audley Shaw. Accompanied by the Economic and Commercial Office of the Chinese Embassy in Jamaica.Ambassador Chen introduced the unveiling ceremony of the China-Caribbean Development Center and the China-Caribbean Development Exchange Conference that had just been held, and said that China is willing to work with Jamaica to take the 50th anniversary of the establishment of diplomatic relations between the two countries as an opportunity to promote bilateral cooperation in areas such as transportation and mining. Pragmatic cooperation and high-quality joint construction of the “Belt and Road” will inject new vitality into the development of China-Jamaica strategic partnership.
Audley Shaw welcomed Ambassador Chen to take up his new post in Jamaica and said that Jamaica is grateful for China’s long-term support and assistance to Jamaica and is willing to work with China to successfully host the celebrations for the 50th anniversary of the establishment of diplomatic relations and further promote cooperation between the two countries in key areas. , high-quality joint construction of the "Belt and Road" and pushing bilateral relations to a new level.
Ambassador Cai Run met with Ma Yiliang, President of the China-Israel Chamber of Commerce
html On July 5, Cai Run, the Chinese Ambassador to Israel, met with Ilan Maor, President of the China-Israel Chamber of Commerce, and representatives of member companies of the China-Israel Chamber of Commerce. The two sides exchanged views on promoting China-Israel economic and trade cooperation. . Minister Counselor for Economic Affairs Zhang Xingfu of our embassy, Matan Vilnai, President of Israel-Asia Chamber of Commerce, and others attended the event.
