Source: Xinhua 2023-01-15 05:12:15 Vucic pointed out the importance of the high-speed railway for developing industry, business and tourism, and attracting investors to North Serbia. NOVI SAD, Serbia, Jan. 14 (Xinhua) -- The Serbia section of the Chinese-built Belgrade-Budapest railway, once completed, will prove to be of immense importance for the country's economy and local development, Serbian President Aleksandar Vucic has said on Saturday. Vucic, accompanied by Serbian Minister of Construction, Transport and Infrastructure Goran Vesic and Chinese Ambassador to Serbia Chen Bo, visited the village of Stepanovicevo, where the railway section connecting Novi Sad and Subotica is under construction. Vucic pointed out the importance of the high-speed railway for developing industry, business and tourism, and attracting investors to North Serbia....

Automotive production in Mexico has not yet rebounded to pre-Covid levels. Nevertheless, numerous suppliers are planning new plants in the country. Logistics processes in Mexico's automotive industry are running more smoothly again after being stalled by the lockdowns. The supply of semiconductor chips has also stabilized. In the first half of 2022, around 1.7 million cars rolled off the production lines at automotive plants in the Latin American country, 3.9 percent more than in the corresponding period the previous year.  However, the sector is threatened by falling demand from the USA due to the slowing economic growth there. In 2021, around 91 percent of vehicles manufactured in Mexico were sold abroad, the majority of them to the USA.    Primarily Suppliers Are Investing in Mexico  No sector in Mexico attracts more foreign direct in...

The abolition of the export duty on steel in India may increase the import of cheaper products to the domestic market of Turkiye Steel companies in Turkiye fear an increase in the import of cheaper steel products from India into the country after the Indian authorities canceled the export duty on steel. Ekonomim reports about it. Turkish steelmakers are worried about the lifting of tariffs by one of its biggest rivals, India, at a time when high energy costs are hampering the competitiveness of local steelmakers. “After India abolished duties on exports of steel products, local producers were concerned about the possible aggressive entry of Indian steelmakers into the Turkish domestic market. In addition, competition between the two countries is expected to increase in other markets,” the report said. Steel production in Turkiye in October 2022 dec...

Source: November 26, 2022 16:25    Xinhua BEIJING, Nov. 26 -- China has approved the establishment of comprehensive pilot zones for cross-border e-commerce in another 33 cities and regions, in its latest bid to boost foreign trade growth. This is the seventh batch of such pilot areas, which lifted the tally to 165 across the country. Many of the latest batch of comprehensive pilot zones for cross-border e-commerce are located in central and western China as well as the country's border areas. The pilot zones are expected to help facilitate the transformation and upgrading of traditional industries, and optimize and upgrade foreign trade. China's cross-border e-commerce has been growing fast in recent years. Its trade volume has ballooned by nearly 10 times in the past five years, reaching 1.92 trillion yuan (about 269.14 billion U.S. dollars) ...

Source: thehindubusinessline.com The rise coincided with the time Indian mills went slow on production in view of monsoons, global demand slowdown and recessionary pressures Russia has emerged the biggest exporter of pig iron — a key steel making raw material — to India for the April-September (H1) period of FY23. Data from the Steel Ministry, accessed by businessline, show that in H1 FY23 nearly 31,700 tonnes of pig iron came into India, of which 26,600 tonnes (or 84 per cent) was from Russia. In values terms, nearly ₹100 crore worth pig iron was imported from Russia (at ₹30,000 per tonne approximately). Pig iron is crude iron and is the direct product of the blast furnace and is refined to produce steel, wrought iron, or ingot iron. Import of the raw material skyrocketed in September this year — up by 3,386 per cent YoY to 27,500 tonnes...

In January-August 2022, supplies of Ukrainian pig iron to Turkish steelmakers decreased by 41.7% year-on-year Steel enterprises of Turkiye in August 2022 increased the import of pig iron from Ukraine by 60% compared to the same month of 2021 – up to 20.9 thousand tons. This is evidenced by the data of the Turkish Statistical Institute, reports SteelOrbis.   In January-August 2022, deliveries of Ukrainian pig iron to Turkiye amounted to 121.43 thousand tons, which is 41.7% less than in 8 months of 2021. The decrease in the indicator is mainly related to the war in Ukraine and the blockade of Ukrainian seaports, which makes the traditional way of delivering products to customers impossible.   In total, in 8 months of 2022, Turkiye imported 1.07 million tons of pig iron, which is 38.7% more than in the same period of 2021. In August, imports amount...