Uzbekistan’s foreign exchange transactions surge 24% in first half of 2025
The total value of foreign currency transactions between banks and individuals in Uzbekistan reached 14.5 billion U.S. dollars in the first six months...
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
China had suspended exports of critical minerals and magnets to the U.S. in retaliation against new American tariffs, disrupting supply chains vital to industries including automotive, aerospace, semiconductors, and defense. Though Beijing agreed in May during trade talks in Geneva to lift these restrictions, shipments did not resume as quickly as expected. This led the U.S. to implement countermeasures.
Following a phone call between Presidents Donald Trump and Xi Jinping and subsequent negotiations in London, both sides agreed on a framework to expedite shipments of these materials to the U.S. Treasury Secretary Bessent expressed confidence that magnet shipments would now flow as agreed.
While China's commerce ministry confirmed the framework's details and promised to approve export applications legally, rare earth exports remain subject to strict controls due to concerns over potential military use, slowing licensing processes.
The initial Geneva deal stalled because of China’s export curbs, prompting the U.S. to impose export controls on Chinese semiconductor design software, aircraft, and other goods. However, temporary licenses granted in early June helped ease supply chain issues, including to top U.S. automakers.
President Trump has also linked this trade progress to educational exchanges, noting the U.S. would continue allowing Chinese students in American institutions.
Despite these advances, the agreement highlights the challenges remaining before a comprehensive trade deal between the two global powers can be finalized.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
Nepal has banned access to the Telegram messaging app, citing its role in a growing number of online fraud and money laundering cases across the country.
North Korea has stopped foreign tourists from visiting its new Wonsan-Kalma resort just weeks after it welcomed the first Russian visitors.
U.S. President Donald Trump says Coca-Cola has agreed to use real cane sugar in the U.S., though the company has not confirmed the claim.
The U.S. ambassador to Türkiye says Israel and Syria have reached a ceasefire deal supported by Türkiye, Jordan, and regional actors after cross-border strikes this week heightened tensions.
The Trump administration has completed a controversial prisoner swap with Venezuela, returning around 250 deported Venezuelans in exchange for 10 American detainees.
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