A Milestone in EU-India Economic Partnership In a significant step toward strengthening economic ties, the European Union (EU) and India have committed to concluding their free trade agreement (FTA) negotiations by the end of 2025, focusing on diversifying critical supply chains. This development emerged from a high-profile meeting in New Delhi, where EU Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi signaled their intent to deepen collaboration across multiple sectors. The ambitious EU-India free trade agreement is poised to encompass industries like batteries, pharmaceuticals, semiconductors, clean hydrogen, and defense, promising a transformative boost to bilateral trade and investment. With trade between the two already valued at $137.5 billion annually, this pact could redefine their economic relationship while addressing global challenges like supply chain resilience and sustainability. The announcement reflects years of on-and-off negotiations ...

Banks face increasing gold redemption requests amidst fluctuating market conditions In recent weeks, gold prices have reached record highs before experiencing a brief pullback, prompting many in China to seek the opportunity to cash in on their gold holdings. This trend has led to the implementation of gold redemption programs by numerous banks across the country. While some experts believe that the gold market has peaked, others argue that the bullish trend may persist due to various ongoing economic factors. As reported by China’s leading financial news outlet, Zhejiang Daily , the demand for liquidating gold holdings has increased significantly, coinciding with a slight dip in gold prices. Various Chinese banks, including Agricultural Bank of China, Industrial and Commercial Bank of China, and Postal Savings Bank of China, have begun offering gold redemption services, allowing customers to sell their gold bars back to the banks. Gold redemption programs involve buying back gold so...

How the U.S.-China Trade War Boosted SMIC’s Growth As global tensions rise between the U.S. and China, one company appears to be benefiting from the fallout: China's Semiconductor Manufacturing International Corporation (SMIC). With Taiwan’s TSMC, the world’s largest foundry, now cautious about taking orders from Chinese firms due to U.S. sanctions, SMIC has seen a surge in business. The heightened U.S.-China trade conflict, sparked by President Donald Trump’s policies, is pushing China’s semiconductor industry into new avenues, and SMIC is reaping the rewards. SMIC recently reported a 34% increase in revenue from Chinese clients in the fourth quarter of last year. The company’s co-CEO, Zhao Haijun, revealed that the first two quarters of this year have seen a sharp rise in orders. The growth can be attributed to China's ongoing drive for semiconductor self-sufficiency, a move that has led SMIC to operate at full capacity. The rise in SMIC's fortunes comes as the U.S. has...

House Speaker's Dangerous Support for Trump's Attack on Judicial Oversight / Kayla Bartkowski/Getty Images Speaker of the House Mike Johnson has recently thrown his support behind Donald Trump’s stance on judicial independence, signaling his disregard for the Constitution's separation of powers. This is not just a personal position but a broader alignment with the MAGA movement, which seeks to challenge established checks and balances. In an exchange with CNN reporter Manu Raju, Johnson was asked about JD Vance’s recent post on X (formerly Twitter) where the Republican senator harshly criticized a federal judge for blocking Elon Musk’s Department of Government Efficiency (DOGE) from accessing Treasury Department records. Much like Trump’s previous remarks that “no judge should frankly be allowed to make that kind of decision,” Johnson echoed a similar sentiment, aligning himself with Vance and Musk in their attacks against the judiciary. He expressed agreement with Vance a...