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Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldLast weekend in Washington, near the White House, dozens of economists from universities and institutions such as the IMF gathered to discuss the state of “geoeconomics”.Geo-what? some readers might ask. No wonder: until recently, this word was little used, since it seemed at odds with modern norms. That is because the phrase describes how governments can use economic and financial policies to play power games. But in the 20th century free-market intellectual framework — which is the one in which…

Alibaba Group Holding, which went through a sweeping restructuring two years ago by separating its sprawling operations into six major groups, is taking steps to break down barriers between different units, as the e-commerce giant refocuses resources on core priorities.Eddie Wu Yongming, Alibaba’s CEO, told employees on Friday that the company would “mobilise at full strength and concentrate our efforts on a few core strategic priorities”, with “key initiatives driven jointly by multiple businesses”, according to an internal memo seen by the Post. Alibaba owns the South China Morning Post.The Hangzhou-based technology giant co-founded by Jack Ma 26 years ago…

Stay informed with free updatesSimply sign up to the Chinese trade myFT Digest — delivered directly to your inbox.China’s exports grew sharply in April despite Donald Trump’s “liberation” day tariffs on shipments to the US, strengthening Beijing’s hand ahead of crucial trade negotiations due to start this weekend.The strong performance came as Chinese companies diverted trade flows to south-east Asia, Europe and other destinations following the imposition of prohibitively high tit-for-tat tariffs between the world’s two largest economies. Exports rose 8.1 per cent in dollar terms compared with a year earlier, China’s customs said on Friday, beating analysts’ forecasts in…

MOSCOW (AP) — Russia marked the 80th anniversary of the defeat of Nazi Germany in World War II with a massive military parade on Red Square on Friday attended by President Vladimir Putin and a slew of foreign leaders, including Chinese President Xi Jinping and Brazilian President Luiz Inácio Lula da Silva.Victory Day, which is celebrated in Russia on May 9, is the country’s most important secular holiday. A Red Square parade and other ceremonies underline Moscow’s efforts to project its global power and cement the alliances it has forged while seeking a counterbalance to the West amid the conflict…

Producers of tungsten products in developed nations, including those in the defence sector, are waking up to the need to diversify their raw material supply sources after three decades of readily available exports from China came to a sudden halt, according to a mines developer.On February 4, Beijing added five critical industrial metals including tungsten to its export restriction list while announcing tariffs on certain American imports, as part of its retaliation against Washington’s decision to raise duties on all Chinese imports by 10 per cent. Export permits have not been issued so far, said Lewis Black, CEO of Canada-based…

Hong Kong stocks rose for the seventh straight trading day on Friday, their longest winning streak in more than a year, after US President Donald Trump said that the trade talks with China on the weekend could lead to “substantive” tariff cuts.The Hang Seng Index edged up 0.4 per cent to 22,859.46 at 10am. The Hang Seng Tech Index was down about 0.8 per cent. On the mainland, the CSI 300 Index fell marginally, while the Shanghai Composite Index eased 0.1 per cent.Chow Tai Fook Jewellery rose 4 per cent to HK$23.55 and Geely Automobile gained 2.7 per cent to…

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan has assured the Karachi Chamber of Commerce and Industry (KCCI) of addressing all their concerns. The SAPM assured this to the members of the KCCI during a virtual meeting aimed to address several pressing issues concerning Karachi’s industrial sector, including electricity supply, water provision, rising gas levies, tax collection problems, and the challenges faced by exporters. The committees were set up following the prime minister’s directives to ensure a focused and systematic approach to resolving the concerns of local chambers and industrialists. “The goal is…

ISLAMABAD: President of Faisalabad Chamber of Commerce & Industry (FCCI), Rehan Naseem Bharara, called on Federal Minister for Commerce, Jam Kamal Khan on Thursday to discuss key issues faced by the business community and explore avenues for trade facilitation. During the meeting, Bharara highlighted the need for comprehensive reforms in the Federal Board of Revenue (FBR), particularly concerning tariff structures that impact exporters. He proposed that export-oriented trade associations should be given permanent representation on policy-making boards, ensuring that voices from the ground are included in national trade strategies. Federal Minister Jam Kamal Khan assured the FCCI president of the…

KARACHI: Vice Chairman of Pakistan Soap Manufacturers Association (PSMA), Tariq Zakaria held an important extra general body meeting in a local hotel and expressed concern over the new Tax Laws (Amendment) Ordinance 2025, which has issued without consultation with stakeholders and in the absence of parliamentary debate poses severe implications for both the business sector and rule of law, which will cause the worst financial crisis, with which the entire business community of the country in its grip. He objected to Section 138(3A) and 140(6A) of the Income Tax Ordinance, which override judgments of superior courts and render disputed tax…

NEW YORK: Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps President Donald Trump’s trade war with the rest of the world is easing. By midday, bitcoin was trading at $101,329.97, a 4.7% gain on the day. The world’s biggest cryptocurrency has clawed its way back into positive territory for the year, although it remains below the record high of more than $109,000 reached in January. Ether, the cryptocurrency for the Ethereum blockchain surged more than 14 per cent…