Italy yields to Taiwan on ‘No diplomacy, no chips’

Italy, the second largest manufacturing hub in Europe after Spain, is strengthening its economic ties with Taiwan and seeking to attract the island’s Taiwan Semiconductor Manufacturing Company Ltd (TSMC) to set up a foundry in its northeastern Veneto region. Economy Minister Giancarlo Giorgetti said on April 14 that Prime Minister Giorgia Meloni is assessing Italy’s partnership […]Continue Reading

RMB-based trade hasn’t worked out for Moscow

Although China and Russia have in recent months encouraged companies to settle their trade in the two countries’ currencies to try to end “dollar hegemony,” Moscow has so far avoided keeping the yuan because they are a drag on the market. In a recently-published research report the Bank of Russia, the country’s central bank, explains […]Continue Reading

Man arrested for allegedly receiving marine gas oil stolen from Shell’s Pulau Bukom facility

SINGAPORE: A man has been arrested for allegedly receiving marine gas oil (MGO) stolen from Shell Eastern Petroleum’s Pulau Bukom facility, the Singapore Police Force (SPF) said on Wednesday (Apr 19). The 48-year-old, who was not in Singapore during the investigation into his alleged offences, was arrested when he enteredContinue Reading

Japan signals attitude shift to power of the Global South

In mid-April, the Japanese Ministry of Foreign Affairs released its Diplomatic Bluebook 2023, its most important guidebook on international affairs. Japan’s foreign minister, Yoshimasa Hayashi, wrote the foreword, which begins: “The world is now at a turning point in history.” This phrase is key to understanding the Japanese approach to the war in Ukraine. Hours after […]Continue Reading

US sanctions turn away Canton Fair’s Western buyers

Chinese manufacturers were disappointed to see a decline in the number of buyers from Europe and the United States in this week’s Canton Fair, the largest trade show in China, as Western demand was hit by high inflation and interest rate hikes. Some exporters complained that they paid higher booth fees but were approached by fewer […]Continue Reading