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Moored off a Manhattan pier for New York’s annual Climate Week is one of the world’s first ammonia-powered vessels — a green flagship for an Australian tycoon’s drive to decarbonize his mining empire.Even as President Donald Trump’s second term has triggered environmental backtracking among many corporations, iron ore giant Fortescue — founded by Andrew “Twiggy” …

An Aussie tycoon bets billions on cleaning up iron ore giant Read More »

The United Nations on Friday released a long-awaited update of its database of companies with activities in Israeli settlements in Palestinian territories, listing 158 firms from 11 countries.UN rights chief Volker Turk has condemned as a war crime Israel’s policy of settlements on Palestinian territory in the occupied West Bank.While several companies including Alstom and …

UN identifies 158 firms linked to Israeli settlements Read More »

Donald Trump has shocked the global drug industry by announcing 100-percent tariffs on all branded, imported pharmaceutical products — unless companies are building manufacturing plants in the United States.With just five days left until the US president is set to impose the harshest measures yet in his global trade war, analysts have been racing to …

The nations and firms threatened by Trump’s pharma tariffs Read More »

US President Donald Trump’s announcement of steep new tariffs on medicines and other goods drew pushback from some allies on Friday, with the EU claiming immunity for its pharmaceutical industry under an earlier trade deal.The announcement late on Thursday evening, which included a 100 percent levy on pharmaceuticals, is the harshest trade policy by the …

Trump announces steep new tariffs, EU claims pharmaceutical immunity Read More »

Canada has signed a bilateral free trade agreement with Indonesia, which aims to eliminate or reduce tariffs on over 95 percent of Ottawa’s exports to its largest market in Southeast Asia.Several experts told AFP the strategic agreement is being made in the context of global economic turmoil, exacerbated by the protectionist policies of the United …

Canada signs free trade agreement with Indonesia Read More »

Stencilled just above the stairs, the red mark in Mumbai’s Dharavi slum is tantamount to an eviction notice for residents like Bipinkumar Padaya.”I was born here, my father was born here, my grandfather was born here,” sighed the 58-year-old government employee.”But we don’t have any choice, we have to vacate.”Soon, bulldozers are expected to rumble …

In India’s Mumbai, the largest slum in Asia is for sale Read More »

The Trump administration is in talks to take an equity stake in Lithium Americas, which would insert the government into another private enterprise in the latest challenge to American free-market traditions.The move comes on the heels of Trump announcements establishing government holdings in struggling semiconductor giant Intel and the rare earth company MP Materials. Trump …

Heavy hand: Free-market US tested as Trump takes stakes in private companies Read More »

Donald Trump on Thursday signed an executive order laying out a proposed deal for a US version of TikTok that would see Chinese ownership reduced to 20 percent and put control in the hands of the president’s allies.At a signing ceremony at the White House, Trump said the US version of the app would be …

Trump allies to control TikTok under new US deal Read More »

Wall Street stocks retreated while the dollar rallied Thursday following stronger than expected US economic data that could delay Federal Reserve interest rate cuts.The US government revised its second-quarter economic growth rate upwards on Thursday to 3.8 percent from 3.3 percent, as consumers spent more than expected.It marks the fastest quarterly growth rate in nearly …

Strong US data boosts dollar as Wall Street stocks fall again Read More »

Talks on free trade deals between the European Union and Malaysia, Thailand and the Philippines were “advancing very well”, the EU trade commissioner said on Thursday as the bloc sought to cement commercial ties in Southeast Asia.Maros Sefcovic’s comments came two days after the EU signed a trade deal with Indonesia, the region’s largest economy, …

Trade talks ‘advancing well’, EU tells southeast Asian countries Read More »