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Global Stocks Post Small Rises

Global stocks posted gentle rises on Tuesday, as U.S. and U.K. investors returned to their desks and weighed developments over the weekend including European elections and continuing concerns about U.S.-China trade. In Europe, the Stoxx Europe 600 was up 0.1% in opening trading. In Asia, the Shanghai Stock Exchange gained 0.6%, Hong Kong’s Hang Seng Index was up 0.2% and Japan’s Nikkei was up 0.4%. Futures pointed to opening gains on Wall Street of 0.1% for both the Dow Jones Industrial Average and the S&P 500. The finance and communications ...

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Euro dips on Italian debt worries and trade tensions

The euro dipped on Tuesday as investors nervous about trade tensions bought into the safe-haven dollar and fretted that political risks in Europe remain high, even though pro-Europe parties won a majority of European parliamentary seats. Remarks by two euro zone officials that the European Commission was likely to fine Italy on June 5, because its rising debt and structural deficits break European Union rules, also weighed on the single currency. Pro-Europe parties kept a majority of seats in last week’s European parliamentary elections. Support grew for eurosceptic and right-wing ...

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European trade policy seen going greener after EU parliament vote

The rise of the Greens, the “Greta effect” of a young Swedish climate activist and the entry of French President Emmanuel Macron’s party into the European Parliament are likely to result in a more defensive and climate-oriented EU trade policy. Sunday’s European election saw the traditional conservative and socialist parties that have long run the European Union lose dozens of seats each. Between them, they can no longer form a majority, making them more reliant to pass European laws on support from liberal and Green blocs that both made gains. ...

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U.S. Is Learning That China Likes Its Own Model

In the long, arduous process of trying to negotiate a new trade deal with China, the U.S. is learning something profound about the country across the table: The basic assumption Americans held about China for most of the last half-century may no longer hold. Since the great opening to China in the 1970s, successive U.S. administrations have operated under the belief that China wanted to update its economy and then become a full, card-carrying member of the international economic system of the First World. The question was simply what that ...

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China: Greater market access to offset trade impact

Greater access to China’s financial sector will encourage global investors and dispel the gloom clouding the global economy amid Beijing’s trade tensions with Washington, according to senior officials and economists. Chinese financial regulators are preparing a comprehensive opening-up, with more new measures in the pipeline. Foreign institutions with advanced performance in risk management, credit rating, consumer finance, endowments and health insurance are especially welcome, senior officials stressed over the weekend. The opening measures will offset part of the negative impacts of trade friction on economic recovery, and enable China to ...

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Draghi Has 10 Days to Gauge Recovery for ECB Stimulus Decision

European Central Bank officials are approaching a major decision on new stimulus amid conflicting economic data and differences over what to do about it. Economists at the ECB are preparing forecasts for President Mario Draghi to unveil next week that will show whether they still believe an upturn will materialize in the second half of the year. The Governing Council must then decide if it should yet again deploy any of its many tools — including a new round of bank loans — to boost growth and inflation. Some policy ...

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China would benefit from a positive response to US trade complaints

Was it ruthless greed, ineptitude or hubris that led China to entrap itself into its huge, systematic and unsustainable trade imbalances with the United States? The answer is: All of the above. Beijing’s trade problem was also part of unintended consequence of America’s economic policy errors. China, therefore, cannot complain about any sinister scheming. In trade and in most of the rest, America’s policy toward China has been an open book ever since the Shanghai Communique in 1972, when Washington began its “triangulation” game of playing China to fight its ...

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Donald Trump’s trade and tech wars with China take a sinister turn, endangering the global economy

Lift one’s eyes to the global horizon and, at present, there seems nothing but bleakness. Compared to the relative calm and common sense of elections in India, the Philippines and Australia, the more distant upheavals feel alarmingly disruptive. Brexit is a shambles. European elections are veering in dangerous directions. And US President Donald Trump’s trade war with China looks more ruinous by the day. At the end of the day – distressing as it is to watch such self-harm being so deliberately inflicted – the Brexit chaos has little impact ...

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China’s stance on U.S. trade talks always been consistent

The U.S. has had various voices on China-U.S. trade talks, but China’s position has always been consistent, said Chinese foreign ministry spokesman Lu Kang at a regular press briefing. China always believes that any differences between any two countries should be resolved through friendly consultations, differences between China and the U.S. on the economic and trade front is no exception, said Lu Kang. China insists that consultations between the two countries must be based on mutual respect, equality and mutual benefit, Lu added. U.S. President Donald Trump said when on ...

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Industry Expert Insights

#industryexpertinsights – Emile Hoogsteden – Vice President Containers, Breakbulk & Logistics of the Port

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Digitalization and the Future of Energy

Digitalization is an important enabler of our transition to a decarbonized and decentralized energy system,

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Seanergy Maritime Holdings Corp. (SHIP) Given Average Recommendation of “Buy” by Brokerages

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Seanergy Maritime’s rating score has declined by 100% in the last three months as a result of various analysts’ ratings changes. Brokers have set a twelve-month consensus price objective of $10.00 for the company and are predicting that the company ...

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Teenagers get to grip with oil spill prevention

Discussions on oil pollution prevention, preparedness and response took centre stage this week (20-24 May) at the latest edition of Spillcon 2019 in Perth, Australia. The forum included sessions on cause and prevention, response management and environmental issues. A raft of high calibre national and international speakers addressed the conference on their particular areas of expertise. However, this year, the audience also invited 12 to 15 years olds to join the event to learn more about issues related to environmental protection, oil and chemical pollution, preparedness and response. The curious ...

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S’hail Shipping signs deals to purchase two modern dry bulk carriers worth nearly QR75mn

S’hail Shipping has entered into agreements to purchase two modern dry bulk carriers worth nearly QR75mn. This was announced by Mohamed Khalifa al-Sada, S’hail Shipping chairman and managing director here on Saturday. Al-Sada said he expected the first ship ‘S’hail Al Rayan” (76,629 dwt) to be delivered in the first half of next month and the second vessel ‘S’hail Al Dukhan’ (74,143 dwt) to be delivered during the second half of June. With the addition of these two ships, the company’s fleet size will increase to seven ships and the ...

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India – Ban of Plastic Scrap Imports

In line with the annoucement from the Ministry of Environment, Forest and Climate Change (India), please be informed that with effect from 1 June 2019, APL will no longer accepts shipments of plastic scrap from all origins to India. Please contact your local APL representative if you need any assistance. Source: APL

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