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Xi pushes 'Greater BRICS' economic ties to give bloc larger global role

Xi pushes 'Greater BRICS' economic ties to give bloc larger global role

(Corrects spelling of headline tag) NEW DELHI, Sept 13 (Reuters) - Chinese President Xi Jinping unveiled on Sunday initiatives in areas ranging from AI to trade to deepen cooperation among the "Greater BRICS" emerging economies, as Beijing seeks to weld the grouping into a practical platform for
ReutersReuters
Companies left China to dodge tariffs. Now some are heading back

Companies left China to dodge tariffs. Now some are heading back

By Ellen Zhang and Marius Zaharia BEIJING/HONG KONG, Sept 14 (Reuters) - A year after shifting production and sourcing out of China to avoid higher U.S. tariffs, some companies are learning that replicating the country's factory ecosystem is not so easy and are bringing manufacturing back.
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BRICS leaders voice concern over Middle East, condemn unilateral sanctions at India summit

BRICS leaders voice concern over Middle East, condemn unilateral sanctions at India summit

The BRICS group of emerging economies expresses concern over rising tensions in the Middle East and condemns sanctions not authorized by the U.N. The leaders met in New Delhi to strengthen their global position
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U.S. Faces Significant Challenges in Rare Earth Production Dominance Amidst China's Supply Chain Control

U.S. Faces Significant Challenges in Rare Earth Production Dominance Amidst China's Supply Chain Control

U.S. Faces Significant Challenges in Rare Earth Production Dominance Amidst China's Supply Chain Control
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Chinese AI Firms Decline Meetings with US Delegation Citing Sanctions Fears

Chinese AI Firms Decline Meetings with US Delegation Citing Sanctions Fears

Chinese AI Firms Decline Meetings with US Delegation Citing Sanctions Fears
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ASEAN+3 Endorses Disaster Risk Financing Roadmap to Mitigate Economic Crises from Natural Disasters

ASEAN+3 Endorses Disaster Risk Financing Roadmap to Mitigate Economic Crises from Natural Disasters

Finance ministers and central bank governors from ASEAN+3 countries (Southeast Asian member states plus China, Japan, and South Korea) endorsed the Disaster Risk Financing Initiative’s 2026–28 roadmap in May. This framework aims to help member countries develop national disaster-risk financing strategies and expand their use of insurance, catastrophe bonds, and other relevant instruments. The initiative seeks to prevent natural disasters from escalating into financial crises, as highlighted by the recent catastrophic flooding in Nepal. Direct disaster losses averaged $180–200 billion annually between 2001 and 2020, with total annual costs rising to over $2.3 trillion when accounting for indirect effects. The Southeast Asia Disaster Risk Insurance Facility, a regional platform under ASEAN+3, recently paid out $2.28 million to Laos and the United Nations World Food Programme following heavy rainfall and widespread flooding affecting over 260,000 people. The roadmap emphasizes matching financing to risk, usin...
USA TodayUSA Today
Iran, Houthis block 2 key global shipping routes, straining the global economy

Iran, Houthis block 2 key global shipping routes, straining the global economy

Iran and Houthi rebels have effectively closed two key maritime chokepoints, threatening global oil prices and trade routes. Here's what it means.
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China's Industrial Subsidies Boost Exports, While U.S. Tariffs Prove Ineffective in Countering Gains

China's Industrial Subsidies Boost Exports, While U.S. Tariffs Prove Ineffective in Countering Gains

China's Industrial Subsidies Boost Exports, While U.S. Tariffs Prove Ineffective in Countering Gains
ReutersReuters
Oil tanker rates hit record highs following Iran, US shipping attacks

Oil tanker rates hit record highs following Iran, US shipping attacks

By Enes Tunagur LONDON, Sept 11 (Reuters) - The cost of shipping oil in the largest tankers hit record highs this week following the biggest wave of attacks on shipping since the U.S.-Iran war began in late February.
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The US has loosened Iran's grip on the Strait of Hormuz, but the costly war is far from over

The US has loosened Iran's grip on the Strait of Hormuz, but the costly war is far from over

The United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own exports
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The US has made progress in reopening the Strait of Hormuz, but the Iran war is far from over

The US has made progress in reopening the Strait of Hormuz, but the Iran war is far from over

The United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own exports
AP NewsAP News
Oil prices fall to $104 and world shares are mixed following Wall Street losses

Oil prices fall to $104 and world shares are mixed following Wall Street losses

World shares are mixed following Wall Street losses