Seoul, April 17 (IANS) South Korea and the European Union (EU) agreed on Friday to form a strategic economic partnership to expand bilateral ties in trade and economic security amid heightened global uncertainties, Seoul’s trade ministry said.The agreement was made during the inaugural Korea-EU next-generation strategic dialogue held in Seoul to help the two sides explore deeper cooperation in trade, supply chains and technology, according to the Ministry of Trade, Industry and Resources, report…
Latest Supply Chains News & Updates
Seoul, April 17 (IANS) South Korea and the European Union (EU) agreed Friday to form a strategic economic partnership to expand bilateral ties in trade and economic security amid heightened global uncertainties, Seoul’s trade ministry said.The agreement was made during the inaugural Korea-EU next-generation strategic dialogue held in Seoul to help the two sides explore deeper cooperation in trade, supply chains and technology, according to the Ministry of Trade, Industry and Resources. Friday’s …
Washington, April 16 (IANS) The US on Thursday called on allies to do more to secure critical maritime routes in the Gulf, saying Washington cannot be expected to shoulder the burden alone amid escalating tensions with Iran. Defence Secretary Pete Hegseth said while some regional partners had supported US efforts, many countries had failed to act when needed.”Other allies have talked a lot and haven’t done anything,” he added, referring to the response during recent hostilities.Hegseth was speak…
Washington, April 16 (IANS) The global economy is set to slow in 2026 as war-driven disruptions in energy supplies and trade routes push up prices and dent growth, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said, warning of tougher conditions if the conflict persists. “Even if the conflict is short-lived, extensive infrastructure damage and supply-chain disruptions are pushing prices up and slowing global growth down from 3.4 per cent last year to 3.1 per cent in …
New Delhi, April 13 (IANS) The government has accelerated the push for electric vehicles and strengthened domestic capabilities in critical minerals for clean energy technologies to reduce dependence on oil imports amid volatility in global prices and potential disruptions in supply chains due to the West Asia crisis, according to an official statement issued on Monday. Since the onset of the crisis, the Ministry of Heavy Industries has undertaken coordinated measures to sustain the growth of…
New Delhi, April 13 (IANS) Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Monday asserted that India is prepared for all contingencies in the wake of disruptions in the Strait of Hormuz, with swift and coordinated measures helping stabilise maritime trade operations.In a conversation with Times Now, Sonowal said the government acted quickly to minimise the impact on India’s supply chains and global trade linkages.In his first remarks following the recent tensions involv…
New Delhi, April 12 (IANS) Finance ministers and central bankers from the 191 member countries will attend the International Monetary Fund (IMF) and World Bank’s spring meetings, to be held from April 13-18 in Washington, DC, to take stock of the global economic uncertainties amid the fragile ceasefire between the US and Iran and continuing uncertainties over the outcome of the peace talks.IMF managing director Kristalina Georgieva has warned that the new economic forecasts, to be published on…
New Delhi, April 11 (IANS) Amid escalating geopolitical tensions, the Asian Development Bank (ADB) has lowered Bangladesh’s economic growth forecast to 4 per cent for the current fiscal year ending in June, down from its earlier projection of 4.7 per cent, citing higher fuel prices and disruptions in global supply chains, according to a new report.According to the report by The Daily Star, the ADB has projected economic growth of 4.7 per cent for the next fiscal year (2026–27).The bank has r…
New Delhi, 9 April (IANS) Apex business chamber FICCI on Thursday indicated that early signs of stress due to the West Asia conflict are visible across sectors, warranting proactive measures to mitigate immediate risks and build long-term resilience. In a report titled West Asia Conflict: Implications for India and Imperatives for Industry and Government, FICCI suggested a two-pronged strategy for industry, focused on financial resilience and operational continuity. Firms are encouraged to se…
Washington, April 9 (IANS) India and the United States stepped up engagement across trade, defence and critical technologies as Foreign Secretary Vikram Misri held a series of high-level meetings in Washington during his three-day visit.The talks spanned the Pentagon and the Department of Commerce, alongside a public-facing push to expand trade ties through a new digital platform.Misri joined Ambassador Vinay Kwatra to launch the India–USA Trade Facilitation Portal, described by the Indian Emb…