AFP Asia Business
OECD raises world growth outlook as tariffs contained, for now
The world economy will grow more than previously forecast this year after absorbing the shock of US President Donald Trump’s tariffs, but their full impact remains uncertain, the OECD said Tuesday.In June, the Paris-based organisation had cut its forecast from 3.1 percent to 2.9 percent, warning at the time that Trump’s tariffs would stifle the …
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Indonesia, EU sign long-awaited trade deal
Indonesia and the European Union finalised negotiations on a trade agreement Tuesday after nearly a decade of talks, a senior minister said.The Indonesia-European Union Comprehensive Economic Partnership Agreement (CEPA) is the third deal Brussels has signed with Southeast Asian countries, after Singapore and Vietnam.The pact was signed by EU Trade Commissioner Maros Sefcovic and Indonesian Minister …
Singapore firm rejects paying $1bn Sri Lankan pollution damages
A Singapore shipping company told AFP on Tuesday it will refuse to pay Sri Lankan court-ordered damages of US$1 billion for causing that country’s worst case of environmental pollution.In an exclusive interview, X-Press Feeders chief executive Shmuel Yoskovitz said he believed paying would have wide-ranging implications on global shipping and “set a dangerous precedent”.The company …
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