Weekly Newsletter

U. S. adds 7 related Chinese companies to export control list

On the 24th, the U.S. Department of Commerce announced that the U.S. added seven Chinese-related entities (mainly related to aerospace) to its export control list, citing "national security" and foreign policy concerns. The U.S. government has created a series of export control tools, and many Chinese companies are included in these lists, limiting cooperation with U.S. companies.

Israel announces biggest rate hike in 20 years

Recently, the Bank of Israel announced that it will raise the benchmark interest rate by 0.75 percentage points to 2% in order to curb the rising inflation rate. This rate hike is the fourth time the Bank of Israel has raised interest rates this year, and it is also Israel's largest single rate hike in 20 years. The benchmark interest rate has also reached the highest level in the past ten years.

South Korean exports close to stagnation, up just 0.5% year-on-year

Data released by the Korea Customs Service showed that total exports in the first 20 days of August increased by 3.9% year-on-year, but the average daily export value only increased by 0.5% year-on-year. The trade deficit hit $10.2 billion, bringing the total trade deficit for the year to $25.4 billion. Among them, South Korea's trade deficit with China is about 667 million US dollars, and the deficit has lasted for 3 months.

Cuba: For the first time in more than 60 years, foreign capital is allowed to enter the domestic market

According to a recent report by the Chile-American Economy website, Cuba has allowed foreign investment to enter the domestic trade market for the first time in more than 60 years. Long queues to buy goods, fuel shortages and frequent power outages have prompted Cuban authorities to speed up a plan to reform the country's economy, with foreign investment helping to achieve the country's economic goals and lower prices.

Maersk to build 43,000 square meters of new warehouse in Germany

A few days ago, Maersk announced the construction of a new logistics warehouse in Duisburg, Germany. The warehouse covers an area of 43,000 square meters and is expected to become one of the largest inland logistics centers in Europe. The services Maersk will provide through it include cross docking, pallet storage and all value-added services along the supply chain – from customs clearance to assembly and disassembly.

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