IATA expects sustainable aviation fuel production to double in 2025
A logo of the International Air Transport Association (IATA) is seen at their headquarters ahead of the airline industry body media day in Geneva, Switzerland, December 6, 2023. REUTERS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
4 hours ago
- South China Morning Post
EU pushes China to address ‘alarming' rare earth export controls
The EU has urged China to stop restricting the export of rare earth minerals and magnets, with the bloc's trade chief saying its industries are in an 'alarming situation'. The request was made during a meeting between the sides' top commerce officials in Paris on Tuesday. It comes as sectors across Europe raise the alarm about a shortage of rare earths, which are used to manufacture hi-tech goods ranging from electric cars and smartphones to military tanks and aircraft. 'I informed my Chinese counterpart about the alarming situation in the European car industry, but I would say industry as such because clearly rare earths and permanent magnets are absolutely essential for industrial production,' Maros Sefcovic said on Wednesday, briefing reporters a day after his meeting with Chinese Commerce Minister Wang Wentao. Around 90 per cent of the world's supply of rare earth minerals comes from China, which introduced export controls on their shipments in April in retaliation to US President Donald Trump's 'reciprocal' tariffs. Rare earths consist of 17 elements. On April 4, Beijing added seven of these – dysprosium, gadolinium, lutetium, samarium, scandium, terbium and yttrium – to its export control list, plus several rare earth magnets, two days after Trump announced 'reciprocal tariffs', meaning licenses are now required for their export. EU trade commissioner Maros Sefcovic in Paris on Wednesday. Photo: Reuters While such restrictions were ostensibly intended to punish the US, firms around the world have been caught in the crossfire. Business chambers and industry groups have urged European governments to push for a solution, as mineral stocks run low and some areas of production grind to a halt.
South China Morning Post
12 hours ago
- South China Morning Post
China and EU schedule crunch talks to resolve economic deadlock
China and the European Union have agreed to hold a new round of trade talks to pave the way for a high-level leaders' summit next month, but analysts said it remained to be seen whether the two sides could resolve the impasse in their bilateral economic relations. The talks were announced by the European Commission following a meeting between China's commerce minister, Wang Wentao, and EU trade chief Maros Sefcovic on the sidelines of a World Trade Organization event in Paris on Tuesday. They are expected to lay the groundwork for a high-level summit slated for late July in Beijing, where European leaders will meet with President Xi Jinping. 'The two sides held focused, candid and in-depth discussions on pressing and important issues related to China-EU economic and trade cooperation,' China's Ministry of Commerce said in a statement on Wednesday. 'They also tasked their respective working teams to intensify efforts in preparing for this year's key bilateral agenda on the economic and trade front,' it added. Meanwhile, an EU spokesperson said on Tuesday that the bloc's 'overall objective remains to rebalance our trade and investment relationship with China and level the playing field'.
RTHK
17 hours ago
- RTHK
Xi congratulates new South Korean president
Xi congratulates new South Korean president President Xi Jinping's congratulatory message comes with South Korean leader Lee Jae-myung prioritising trade relations with China. File photo: Reuters President Xi Jinping told newly elected South Korean President Lee Jae-myung on Wednesday that China attaches "great importance" to strengthening ties. "Uncertainties are increasing in the international and regional situation," state broadcaster CCTV reported Xi as telling Lee in a congratulatory message. "I attach great importance to the development of China-South Korea relations," he said. The Foreign Ministry, for its part, said Beijing has always opposed taking sides and forming camps and is willing to work with Seoul to promote the healthy and stable development of relations. Lee, who was sworn in earlier in the day following his victory in a snap election on Tuesday, has expressed more conciliatory plans for ties with Beijing and Pyongyang, singling out in particular the importance of China as a major trading partner. Xi is among a group of neighbours welcoming Lee at a time when US President Donald Trump has thrown the country's traditional allies into disarray with his "unilateral tariffs". Japanese Prime Minister Shigeru Ishiba said he wanted to "energise" cooperation, with the two neighbours becoming closer under Lee's disgraced predecessor Yoon Suk-yeol, and that included through three-way talks with joint ally the United States. "This year marks the 60th anniversary of the normalisation of diplomatic relations between Japan and Korea," Ishiba said in Tokyo. "With President Lee Jae-myung, I would like to energise cooperation between Japan and South Korea as well as between Japan, the United States and South Korea." Ishiba added that "it would be good if we could hold a Japan-South Korea summit in the near future". US Secretary of State Marco Rubio congratulated Lee and voiced hope for working with the left-leaning leader who previously has sought greater distance from the United States. "The United States and the Republic of Korea share an ironclad commitment to the alliance grounded in our Mutual Defense Treaty, shared values and deep economic ties," Rubio said. (Reuters/AFP)
