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a minute ago
- Business
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German ZEW sentiment climbs to +52.7, outlook brightens
Germany's ZEW Indicator of Economic Sentiment continued its upward trajectory in July 2025, climbing 5.2 points to reach +52.7 — its highest level in over a year. The assessment of the current economic situation also showed marked improvement, rising by 12.5 points to -59.5. Sentiment across the eurozone also advanced. The ZEW Indicator for the eurozone rose slightly to +36.1, up 0.8 points from June. Meanwhile, the current economic assessment for the bloc improved by 6.5 points to -24.2. 'After the strong improvements of the past two months, the positive sentiment among respondents is becoming more firmly established. Despite ongoing uncertainty due to global trade conflicts, nearly two-thirds of the experts expect the German economy to improve. Hopes for a quick resolution to the US-EU tariff dispute, along with potential economic stimulus from the German government's planned immediate investment programme, appear to be shaping overall sentiment,' commented ZEW president professor Achim Wambach, PhD. Germany's ZEW Economic Sentiment Index climbed 5.2 points to +52.7 in July 2025, the highest in over a year. The current situation index rose by 12.5 points to -59.5. Eurozone sentiment improved slightly to +36.1, while its current assessment rose to -24.2. ZEW's Achim Wambach said optimism is driven by hopes of a US-EU tariff deal and Germany's planned investment stimulus. Fibre2Fashion News Desk (HU)
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13 hours ago
- Business
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USTR starts Section 301 probe into Brazil's 'unfair' trading practices
The office of the US trade representative (USTR) yesterday initiated an investigation to determine whether Brazil's acts, policies and practices related to digital trade and electronic payment services; 'unfair', preferential tariffs; anti-corruption 'interference'; intellectual property protection; ethanol market access; and 'illegal' deforestation are unreasonable or discriminatory and burden or restrict US commerce. The Section 301 investigation was launched into Brazil's 'attacks on American social media companies as well as other unfair trading practices that harm American companies, workers, farmers, and technology innovators,' said USTR Jamieson Greer. The USTR has begun a probe to find out whether Brazil's policies and practices in digital trade and e-payment; 'unfair', preferential tariffs; anti-corruption 'interference'; IP protection; ethanol market access; and 'illegal' deforestation burden or restrict US commerce. “Brazil's tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action,†said USTR Jamieson Greer. 'USTR has detailed Brazil's unfair trade practices that restrict the ability of US exporters to access its market for decades in the annual National Trade Estimate (NTE) Report. After consulting with other government agencies, cleared advisers, and Congress, I have determined that Brazil's tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action," he was quoted as saying in an official release. Brazil may undermine the competitiveness of US companies engaged in digital trade and electronic payment services, for example, by retaliating against them for failing to censor political speech or restricting their ability to provide services in the country, the release noted. Brazil accords lower, preferential tariff rates to the exports of certain globally competitive trade partners, thereby disadvantaging US exports, it noted. Brazil's failure to enforce anti-corruption and transparency measures raises concerns in relation to norms relating to fighting bribery and corruption, it said. Brazil apparently denies adequate and effective protection and enforcement of intellectual property rights, harming American workers whose livelihoods are tied to America's innovation- and creativity-driven sectors, the release added. Brazil has walked away from its willingness to provide virtually duty-free treatment for US ethanol, and instead, now applies a substantially higher tariff on US ethanol exports. Fibre2Fashion News Desk (DS)
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15 hours ago
- Business
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China's GDP grows 5.3% in H1 2025 amid global pressures: NBS
China's gross domestic product (GDP) grew by 5.3 per cent year-over-year (YoY) in the first half (H1) of 2025, reaching 66.05 trillion yuan (~$9.24 trillion), according to the National Bureau of Statistics (NBS). Growth in the second quarter stood at 5.2 per cent, following a 5.4 per cent increase in Q1. On a quarterly basis, GDP rose by 1.1 per cent. The primary sector grew by 3.7 per cent and secondary sector by 5.3 per cent. China's GDP grew 5.3 per cent YoY in H1 2025, reaching ¥66.05 trillion (~$9.24 trillion), with Q2 growth at 5.2 per cent. Industrial output rose 6.4 per cent. Employment remained stable, but industrial profits dipped 1.1 per cent. Sheng Laiyun highlighted the economy's resilience amid global pressures, supported by proactive macroeconomic policies and steady progress. Industrial output climbed 6.4 per cent in H1, driven by strong performance in equipment and high-tech manufacturing. June alone saw a 6.8 per cent rise, up from 5.8 per cent in May. Manufacturing output increased by 7 per cent during January–June period. Among enterprise types, share-holding firms led with 6.9 per cent growth, followed by private companies at 6.7 per cent, foreign-funded firms at 4.3 per cent, and state-owned enterprises at 4.2 per cent. June's manufacturing Purchasing Managers' Index (PMI) stood at 49.7 per cent, up 0.2 points from May. The production and operation expectation index rose to 52 per cent, indicating cautious optimism, NBS said. Employment remained stable, with the urban surveyed unemployment rate averaging 5.2 per cent and easing to 5 per cent in June. Rural migrant workers totalled 191.39 million at end-Q2, up 0.7 per cent year-on-year, with enterprise employees averaging 48.5 working hours per week. However, industrial profit challenges persisted. Between January and May, profits of large industrial firms fell by 1.1 per cent to 2.72 trillion yuan. China's proactive macroeconomic approach has supported steady economic progress. The first-half results are 'highly meaningful' and underscored the resilience shown amid global uncertainties and mounting external pressures, said Chinese media reports quoting Sheng Laiyun, deputy director of the NBS. Fibre2Fashion News Desk (SG)
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18 hours ago
- Business
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US plans to levy 10% tariffs on African & Caribbean nations
President Donald Trump yesterday announced the US administration will impose over 10-per cent tariffs on goods from more than 100 smaller countries, including those in Africa and the Caribbean. He also unveiled a new trade deal with Indonesia, including a 19-per cent tariff on all Indonesian goods entering the United States. American exports will enjoy full access to Indonesia's markets, devoid of tariffs and trade barriers. The deal replaces a 32-per cent tariff on Indonesian imports proposed earlier. The US will impose over 10-per cent tariffs on goods from more than 100 smaller nations, including those in Africa and the Caribbean, President Donald Trump said. He also unveiled a new trade deal with Indonesia, including a 19-per cent tariff on all Indonesian goods entering the US. US exports will enjoy full access to Indonesia's markets. The US is close to finalising a trade deal with India, he said. Trump also said the United States is close to finalising a trade deal with India. 'We'll probably set one tariff for all of them [the smaller nations],' Trump told reporters. US commerce secretary Howard Lutnick said the plan would focus on nations that generally engage in a modest level of trade with the United States and their contribution in trade balances are relatively insignificant, when addressing the aim of reducing trade imbalance with the rest of the world, according to US media reports. Fibre2Fashion News Desk (DS)
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a day ago
- Business
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Bangladesh's tax-GDP ratio lowest in APAC: OECD report
Bangladesh's tax-to-gross domestic product (GDP) ratio decreased by 0.1 percentage point (pp) from 7.3 per cent in 2022 to 7.2 per cent in 2023, below the Asia-Pacific (APAC) average of 19.5 per cent, according to a recent report by the organisation for Economic Cooperation and development (OECD). It was also below the OECD average of 33.9 per cent and almost a fifth of the Pacific Island nation Niue, which had a tax-to-GDP ratio of 35.3 per cent. Bangladesh's tax-to-GDP ratio decreased by 0.1 pp from 7.3 per cent in 2022 to 7.2 per cent in 2023, below the Asia-Pacific (APAC) average of 19.5 per cent, according to a recent OECD report. It was also below the OECD average of 33.9 per cent. Tax revenues increased on an average across the APAC region for the third consecutive year in 2023, driven by higher VAT receipts. The report, titled 'Revenue Statistics in Asia and the Pacific 2025: Bangladesh', said tax revenues increased on an average across the APAC region for the third consecutive year in 2023, driven by higher value-added tax (VAT) receipts. Bangladesh, along with 23 other countries in the region, is heavily dependent on VAT and import tariffs for its tax revenue, the report noted. In 2023, the country collected most of its revenue—4.7 per cent of its GDP—from goods and services, namely through VAT and import tariffs. In terms of direct taxes, the country's income tax collection amounted to only 2.5 per cent of GDP, well below the APAC average of 7.4 per cent of GDP. Thirty-four per cent of the revenue collected by the country in 2023 came from income tax, while the rest came from taxes on goods and services. Fibre2Fashion News Desk (DS)
