Khankendi to host 17th ECO summit
Azerbaijan is an active member of the Economic Cooperation Organisation (ECO), and hosting the 17th ECO Summit in the country highlights its growing r...
Apple has airlifted 1.5 million iPhones from India to the U.S. to avoid Trump’s steep China tariffs, using chartered flights and fast-tracked customs clearance in Chennai as it boosts Indian production and shifts its global supply chain.
Apple has reportedly airlifted around 600 tonnes of iPhones, roughly 1.5 million devices from India to the United States in a strategic move to bypass mounting tariffs imposed by U.S. President Donald Trump.
According to sources, the tech giant chartered six cargo flights from Chennai, India, after scaling up production at its Foxconn facility. The operation was designed to beat the 125% tariff on Chinese imports, which threatens to significantly inflate the cost of iPhones in the U.S. The same device imported from India is currently subject to a 26% tariff, substantially lower and now temporarily paused.
To facilitate the urgent shipments, Apple lobbied Indian authorities to streamline customs clearance in Chennai, reducing processing time from 30 to just 6 hours via a specially created “green corridor.” The company also ramped up production by extending plant operations to Sundays.
India now accounts for around 20% of Apple’s U.S. bound iPhone exports, signalling a shift in its supply chain diversification away from China. With Foxconn and Tata expanding production capabilities in India, Apple’s long-term strategy to counter tariff pressures while maintaining competitive pricing is taking shape. Apple and Indian officials have not yet commented on the reports.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Russia actively shifted its trade focus away from Europe and the United States, redirecting it toward markets in friendly countries—primarily China, India, Central Asia, Africa, and the Middle East. The share of these countries in Russia's foreign trade has increased from 46% to 82%.
Fast fashion retailer Shein has been fined €40 million ($47.17 million) by France’s antitrust watchdog for allegedly having misleading discounts and unclear environmental claims, despite the company’s claim that the issues were fixed a year ago.
A multimodal cargo airport in Azerbaijan’s Alat Free Economic Zone (FEZ) is scheduled for commissioning in Q1 2027, the deputy head of the FEZ governing body Ismail Manafov announced.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Oil prices plunged more than 12% last week, ending a three-week rally, with experts expecting them to stabilize around $60 if the fragile ceasefire between Israel and Iran holds.
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