Trade

WTO Cuts 2013 Global Trade Growth Forecast to 3.3%

Wed, 10 Apr 2013 11:04:00 +0000

The announcement marked the second time that the WTO has reined in its figures for 2013, after initially estimating that world trade would expand 5.6%.

Sberbank Unveils Order for 12 Boeing 737 Jets

Fri, 05 Apr 2013 14:45:00 +0000

The deal is valued at more than $1 billion at current list prices.

Trade Deficit Narrows in February as Oil Imports Drop

Fri, 05 Apr 2013 14:44:00 +0000

Manufacturing exports show slight gain.

The U.S. trade deficit fell to $43 billion in February, supported by increasing domestic shale oil production that is driving down petroleum imports, the U.S. Commerce Department reported today.

Exports totaled $186 billion in February, up from $184.4 billion in January. Imports rose slightly to $228.9 billion, a gain of only $0.1 billion from January.

The smaller trade gap surprised analysts who had expected it to grow to $44.6 billion on the strength of a higher import total.

TransCanada Plans East-West Pipeline for Tar Sands Oil

Tue, 02 Apr 2013 20:10:00 +0000

The energy company aims to bring the pipeline online in late 2017, converting an existing 1,864-mile natural gas pipeline to crude oil service and constructing up to 870 miles of new pipeline.

Last Armenian National Airline Declares Bankruptcy

Mon, 01 Apr 2013 14:40:00 +0000

Armavia on Monday ceased operations and launched bankruptcy procedures due to grave financial problems.

China, Japan, S. Korea Open Free Trade Talks

Tue, 26 Mar 2013 19:33:00 +0000

The idea of a trilateral FTA has been on the table for decades, but diplomats say China is now pushing especially hard for a pact, in part as a counter to U.S. initiatives in Asia.

Manufacturing Resurgence in US Possible with 'Modest' Policy Shifts

Tue, 26 Mar 2013 18:37:00 +0000

Roadmap envisions increase of 3.7 million manufacturing jobs, trade surplus of $700 billion by 2025.

There is ample potential for U.S. manufacturing to undergo a resurgence that by 2025 would lead to significantly more good paying manufacturing jobs, increase GDP growth and help create the first surplus in the nation’s goods and services balance of trade since 1975, according to a new econometric forecast model released today by the Aspen Institute and the Manufacturers Alliance for Productivity and Innovation (MAPI).

$100 a Barrel 'Reasonable' Price for Oil: Saudi Oil Minister

Mon, 25 Mar 2013 22:18:00 +0000

Kuwait’s oil minister says the market is stable.

"In 1997, I thought $20 was reasonable. In 2006, I though $27 was reasonable," Saudi Oil Minister Ali al-Naimi told reporters in Kuwait City on the sidelines of a Gulf oil conference.

Japan Finds Rare Earth Deposits Used for High-Tech Manufacturing

Thu, 21 Mar 2013 15:38:00 +0000

Japanese researchers have found a rich deposit of rare earths, which are vital for high-tech manufacturing and used in products including wind turbines and iPods, on the Pacific seabed.

What Does the ‘Age of Unconventional Energy’ Mean?

Thu, 21 Mar 2013 14:41:00 +0000

Citing huge economic advantages to the U.S., ExxonMobil (IW 500/1) Chemical President Steve Pryor laid out his vision for the “new age of unconventional energy.” You might wonder if unconventional refers to windmills or solar panels or fusion reactors. But the green Pryor was referencing was the economic boom coming from shale oil and gas.

The Global Manufacturer