A truck drives between shipping containers at a container terminal at Incheon port in Incheon, S.Korea. File photo/ Reuters
South Korea said on Monday it plans to drop Japan from its “white list” of countries with fast-track trade status from September, a tit-for-tat move that deepens a diplomatic and trade rift between the two countries.
Tighter trade regulations, including potential lengthy permit application processes, will apply to South Korean exports to Japan related to weapons production and machine tools, the Ministry of Trade, Industry and Energy said in a statement.
Japan announced earlier this month that it was removing South Korea from its own “white list” of countries that have enjoyed minimum trade restrictions. South Korea last week held off making a retaliatory move.
South Korea warned Japan on Thursday that it would be forced to review security cooperation between the two key US allies if Tokyo pushes ahead with plans to remove Seoul from its “white list”
Japan’s cabinet on Friday approved a plan to remove South Korea from a list of countries that enjoy minimum export controls, a move likely to escalate tensions fuelled by a dispute over compensation
Japan and South Korea ratcheted up tension on Tuesday in a diplomatic dispute that threatens to disrupt global supply of smartphones and chips, with Seoul denouncing Japanese media reports
Dubai welcomed 8.36 million international overnight visitors in the first six months (January-June) of 2019, posting a positive three per cent in tourism volume growth compared to the same period last year,
China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.
Gold prices have hit a record high amid a rush for safe haven assets owing to the fears of a recession. Goehring & Rozencwajg, a research firm which focuses on investments in natural resources, says the great gold bull market has begun.
Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 97 per cent regarding the disclosure of the 2nd quarter financial statements 2019 of its listed public joint stock companies,