Latest news with #USD
Korea Herald
an hour ago
- Business
- Korea Herald
From Ancient Canal to Modern Connector: Cangzhou Drives Development in Northern China
The city's growth strategy balances industry and livability across the Beijing-Tianjin-Hebei region CANGZHOU, China, May 29, 2025 /PRNewswire/ -- A news report from Xinhuanet: As the first light of day breaks over Bohai Bay, casting long shadows across the cranes at the Port of Huanghua, and the waters of the Grand Canal reflect the passage of high-speed trains, Cangzhou is emerging as a key player in the regional cooperation efforts within the Beijing-Tianjin-Hebei corridor. By pursuing regional integration and connectivity, the city is driving industrial modernization, encouraging innovation, and improving quality of life—efforts that are reshaping the local economy and strengthening ties across northern China. Over the past two years, Cangzhou has attracted 131 projects from Beijing and Tianjin, totaling 55.6 billion yuan (approximately $7.7 billion USD) in investment. These projects have sparked a wave of innovation and industrial activity. Meanwhile, 45 subsidiaries of central state-owned enterprises—mainly in the secondary and tertiary sectors—have expanded operations in the city. One prominent example is the Beijing-Tianjin-Hebei Cangzhou Biomedical Industrial Park, which adopted a regulatory model in which pharmaceutical firms based in Hebei are supervised by authorities in Beijing. The arrangement draws on Beijing's research and development expertise and Hebei's manufacturing capacity, reinforcing cross-regional synergies. As a fast-rising hub in the broader regional framework, Cangzhou is positioning itself as a destination of choice for companies relocating from Beijing and Tianjin, offering a stable, business-friendly environment. Advanced technologies are taking root: the BeiDou Navigation Satellite System's "Sky Eye" now monitors its regional operations center in Hebei, while a pilot demonstration project for membrane materials has been selected as one of the region's top ten collaborative initiatives. Scheduled for inauguration in October, the Yanzhao Green Chemical Engineering Laboratory is set to become a major asset. The city recorded 7.4 billion yuan in technology-related contracts in 2024, marking a 131 percent year-on-year increase—a signal of accelerating momentum. In partnership with the Xiong'an New Area, Cangzhou is expanding the Xiong'an Free Trade Zone and the adjoining Cangzhou Innovation Zone. The new Logistics Industry Center within the Xiong'an Innovation Zone is now operational, and the Port of Huanghua has opened a bonded warehouse as part of the Xiong'an–Huanghua Port container intermodal route. This shipping corridor operates under a unified "regional port pass" customs model, streamlining cross-border logistics and underlining Cangzhou's alignment with national economic development plans. As the port positions itself as a key maritime hub in China's Belt and Road Initiative, the new logistics channel represents a concrete step forward in regional infrastructure integration and shared growth. Major transportation upgrades are also reshaping the region. The reconstruction and expansion of the Rongwu Expressway have been completed, while the first phase of the Qugang Expressway and the new stretch of provincial highway S327—connecting Langfang and Xiong'an via Cangzhou—are now open to traffic. Additional projects in progress include the Handan–Huanghua Port Expressway, the Shijiazhuang–Hengshui–Cangzhou–Huanghua Port Intercity Railway, and new high-speed lines linking Xiong'an to Shangqiu and Tianjin to Weifang. Together, these routes position Cangzhou within a broader regional network—part of a government initiative to ensure that key destinations are accessible within 30 minutes by residents across the region—improving daily commutes and facilitating the free flow of people, capital, and innovation. Industrial growth in Cangzhou is also accompanied by investments in public services. The city has established education partnerships between 206 local schools and institutions in Beijing and Tianjin. It is now home to 21 regional medical consortiums, boosting healthcare access and positioning Cangzhou as an attractive option for retirement. To date, 23,600 seniors from Beijing, Tianjin, and neighboring areas have relocated to the city. Over the recent May Day holiday, Cangzhou recorded more than 4 million tourist visits—a 21.3 percent increase from last year—with travelers from Beijing and Tianjin accounting for over 30 percent of the total. Today, Cangzhou's industrial clusters are thriving, its public services are expanding, and its economy is outpacing both provincial and national benchmarks. The city reported a gross domestic product of 472.28 billion yuan in 2024, reflecting a 5.5 percent increase year over year. Historically famed for its martial arts, acrobatics, and cast-iron lions, this ancient canal town is rapidly evolving into a modern coastal economic engine. By building on its heritage while looking outward, Cangzhou is cementing its role as a dynamic force in the ongoing transformation of the Beijing-Tianjin-Hebei region.
Economic Times
an hour ago
- Business
- Economic Times
Markets cheer court ruling to block Trump tariffs
Here are some quotes from market analysts: KYLE RODDA, SENIOR FINANCIAL MARKET ANALYST, MELBOURNE Live Events JOSEPH CAPURSO, HEAD OF INTERNATIONAL AND SUSTAINABLE ECONOMICS, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY SHOKI OMORI, CHIEF DESK STRATEGIST, MIZUHO SECURITIES, TOKYO FRANCES CHEUNG, HEAD OF FX AND RATES STRATEGY, OCBC, SINGAPORE GARY NG, SENIOR ECONOMIST, NATIXIS, HONG KONG FRANCIS TAN, CHIEF ASIA STRATEGIST, INDOSUEZ WEALTH MANAGEMENT YUNOSUKE IKEDA, HEAD OF MACRO RESEARCH, NOMURA, TOKYO TOHRU SASAKI, CHIEF STRATEGIST, FUKUOKA FINANCIAL GROUP, TOKYO BEN BENNETT, HEAD OF INVESTMENT STRATEGY FOR ASIA, L&G ASSET MANAGEMENT , HONG KONG CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO SEAN CALLOW, SENIOR ANALYST AT ITC MARKETS, SYDNEY RAY ATTRILL, HEAD OF FX STRATEGY, NAB, SYDNEY (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel U.S. stock futures jumped and the dollar gained against safe-haven peers including the yen and Swiss franc on Thursday, after a U.S. federal court blocked President Donald Trump 's "Liberation Day" tariffs from going into Trump administration has appealed the ruling.S&P 500 E-mini futures climbed 1.5% and the U.S. dollar rallied broadly against the euro, yen and Swiss franc."It's massive news. It's long been suggested that the emergency powers Trump has used to implement tariffs were unconstitutional and that the power to enact tariffs sits with Congress.""It sets up a battle that will likely end up the Supreme Court now. It's a situation fraught with danger because the administration may ignore the court's ruling, potentially placing greater strain on U.S. institutions at a time of increased stress.""However, should the markets get their way, the courts could delay and then deny these tariffs, removing one massive risk and undoubtedly stoking risk appetite.""One thing I will say though, is the time the news came out, it's usually a period of fairly low liquidity in currency markets... so I think that explains some of the big moves."(Tariffs) have been the single biggest driver of currencies the last few months, and it's probably going to remain the single biggest driver for the next few months as well. So expect lots of big swings to keep occurring. But in terms of where the general trend is, I think the U.S. dollar can strengthen a bit further.""Initial reaction will be risk-on for risk assets such as equities. It's likely that we will see people buying USD as a funding currency expecting that global trade will re-ramp up.""Given that trade talks have gone this far, (the United States) won't let countries go back to the pre-Trump era."However, "it is good news that courts started to fight back against executive orders under rule of law.""For bonds and FX, the timing is convenient for an extension of the most recent trading momentum, where the dollar has already shown signs of rebounding and long-end bond yields have been facing upward pressure."That said, development on tariff and trade relations remains fluid. Investors may be reluctant to load heavy positions on either side of the trade.""The decision will fuel temporary risk-on sentiment in equities and lower bond yields as the market dials back inflation expectations driven by tariffs. However, this is not the end of the tariff story. There is no clarity as the legal battle will continue and it does not change the fact that Trump will find ways to reshape global trade order.""The U.S. dollar itself is quite undervalued because of concerns about U.S. deficits and debt. That should continue for a while until we get more clarity on fiscal issues.""At this point it's almost impossible to know if the tariffs will be completely unwound by this. But in the hypothetical situation that they are, it's natural to see dollar appreciation. Basically Trump's tariffs will lead to stagflation pressure on the U.S. economy, so reversing those tariffs would be a positive for the dollar.""The markets are buying back the dollar on the news, rather than selling the yen. But if USD/JPY continues to rise above 148, speculative JPY short position may be forced to unwind, which will push up USD/JPY much higher.""I think investors are now comfortable that deals are being done which reduces the big downside tail risk for growth. In fact, we could see a shift back to inflation concerns if the new spending bill boosts growth and the labour market remains tight. Tariffs are a part of such inflation worries, so rolling back such threats are a positive here at least. ""The ruling removes an immediate overhang, even if it is not the final word on tariffs. Trump may still have scope to appeal or impose narrower, sector-specific tariffs, so policy uncertainty lingers."While the court ruling is a marginal positive for sentiment and helps to clear out the most bearish growth outlook bets, it does not remove uncertainty. Businesses still don't have clarity, and the policy path remains could see the market unwinding some of the tariff-related moves, such as the weaker USD and Gold , EUR, JPY and EM FX could pull back. Short-end yields may rise as recession fears ease.""It seems inevitable the Supreme Court will be ordered to weigh in on this one, which makes today's news more of a speedbump than a full-drawn conclusion. But for now, investors get a breather from the economic uncertainty they love to loathe.""This block doesn't mean that policies regarding tariffs will completely stop. On the other hand, this is a domestic matter for the U.S., and I think that tariff negotiations will continue."In the financial markets, there's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar.""It appears as though while there must be significant caution over the ruling being overturned by higher courts, for now the weight of money is being placed on the possibility that U.S. courts prevent the White House from self-imposed economic damage, brightening U.S. growth prospects and the USD.""We're just trying to work out what it might mean, but obviously the market is doing a kneejerk reaction so I guess it's reversing a lot of the moves that we've seen... you know all the direction of change has been opposite to what we have seen since Liberation Day, but it's not at all clear what this means."The assumption is that the tariffs that have been announced and are in place will stay in place... Our assumption is President Trump will appeal this trade court's decision and he has the right to appeal... And then it will be up to the federal court and what happens there? I have no idea. So this may be an absolute storm in a teacup or potentially something more significant."I think it's way premature basically to say that this has the potential to reverse a lot of the moves that we've seen in the last couple of months."
Time of India
2 hours ago
- Business
- Time of India
Markets cheer court ruling to block Trump tariffs
U.S. stock futures jumped and the dollar gained against safe-haven peers including the yen and Swiss franc on Thursday, after a U.S. federal court blocked President Donald Trump 's "Liberation Day" tariffs from going into effect. The Trump administration has appealed the ruling. S&P 500 E-mini futures climbed 1.5% and the U.S. dollar rallied broadly against the euro, yen and Swiss franc. Here are some quotes from market analysts: KYLE RODDA, SENIOR FINANCIAL MARKET ANALYST, MELBOURNE "It's massive news. It's long been suggested that the emergency powers Trump has used to implement tariffs were unconstitutional and that the power to enact tariffs sits with Congress." Live Events "It sets up a battle that will likely end up the Supreme Court now. It's a situation fraught with danger because the administration may ignore the court's ruling, potentially placing greater strain on U.S. institutions at a time of increased stress." "However, should the markets get their way, the courts could delay and then deny these tariffs, removing one massive risk and undoubtedly stoking risk appetite." JOSEPH CAPURSO, HEAD OF INTERNATIONAL AND SUSTAINABLE ECONOMICS, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY "One thing I will say though, is the time the news came out, it's usually a period of fairly low liquidity in currency markets... so I think that explains some of the big moves. "(Tariffs) have been the single biggest driver of currencies the last few months, and it's probably going to remain the single biggest driver for the next few months as well. So expect lots of big swings to keep occurring. But in terms of where the general trend is, I think the U.S. dollar can strengthen a bit further." SHOKI OMORI, CHIEF DESK STRATEGIST, MIZUHO SECURITIES, TOKYO "Initial reaction will be risk-on for risk assets such as equities. It's likely that we will see people buying USD as a funding currency expecting that global trade will re-ramp up." "Given that trade talks have gone this far, (the United States) won't let countries go back to the pre-Trump era." However, "it is good news that courts started to fight back against executive orders under rule of law." FRANCES CHEUNG, HEAD OF FX AND RATES STRATEGY, OCBC, SINGAPORE "For bonds and FX, the timing is convenient for an extension of the most recent trading momentum, where the dollar has already shown signs of rebounding and long-end bond yields have been facing upward pressure. "That said, development on tariff and trade relations remains fluid. Investors may be reluctant to load heavy positions on either side of the trade." GARY NG, SENIOR ECONOMIST, NATIXIS, HONG KONG "The decision will fuel temporary risk-on sentiment in equities and lower bond yields as the market dials back inflation expectations driven by tariffs. However, this is not the end of the tariff story. There is no clarity as the legal battle will continue and it does not change the fact that Trump will find ways to reshape global trade order." FRANCIS TAN, CHIEF ASIA STRATEGIST, INDOSUEZ WEALTH MANAGEMENT "The U.S. dollar itself is quite undervalued because of concerns about U.S. deficits and debt. That should continue for a while until we get more clarity on fiscal issues." YUNOSUKE IKEDA, HEAD OF MACRO RESEARCH, NOMURA, TOKYO "At this point it's almost impossible to know if the tariffs will be completely unwound by this. But in the hypothetical situation that they are, it's natural to see dollar appreciation. Basically Trump's tariffs will lead to stagflation pressure on the U.S. economy, so reversing those tariffs would be a positive for the dollar." TOHRU SASAKI, CHIEF STRATEGIST, FUKUOKA FINANCIAL GROUP, TOKYO "The markets are buying back the dollar on the news, rather than selling the yen. But if USD/JPY continues to rise above 148, speculative JPY short position may be forced to unwind, which will push up USD/JPY much higher." BEN BENNETT, HEAD OF INVESTMENT STRATEGY FOR ASIA, L&G ASSET MANAGEMENT , HONG KONG "I think investors are now comfortable that deals are being done which reduces the big downside tail risk for growth. In fact, we could see a shift back to inflation concerns if the new spending bill boosts growth and the labour market remains tight. Tariffs are a part of such inflation worries, so rolling back such threats are a positive here at least. " CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE "The ruling removes an immediate overhang, even if it is not the final word on tariffs. Trump may still have scope to appeal or impose narrower, sector-specific tariffs, so policy uncertainty lingers. "While the court ruling is a marginal positive for sentiment and helps to clear out the most bearish growth outlook bets, it does not remove uncertainty. Businesses still don't have clarity, and the policy path remains fluid. We could see the market unwinding some of the tariff-related moves, such as the weaker USD and Gold , EUR, JPY and EM FX could pull back. Short-end yields may rise as recession fears ease." MATT SIMPSON, SENIOR MARKET ANALYST, CITY INDEX, BRISBANE "It seems inevitable the Supreme Court will be ordered to weigh in on this one, which makes today's news more of a speedbump than a full-drawn conclusion. But for now, investors get a breather from the economic uncertainty they love to loathe." HIROFUMI SUZUKI, CHIEF FX STRATEGIST, SMBC, TOKYO "This block doesn't mean that policies regarding tariffs will completely stop. On the other hand, this is a domestic matter for the U.S., and I think that tariff negotiations will continue. "In the financial markets, there's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar." SEAN CALLOW, SENIOR ANALYST AT ITC MARKETS, SYDNEY "It appears as though while there must be significant caution over the ruling being overturned by higher courts, for now the weight of money is being placed on the possibility that U.S. courts prevent the White House from self-imposed economic damage, brightening U.S. growth prospects and the USD." RAY ATTRILL, HEAD OF FX STRATEGY, NAB, SYDNEY "We're just trying to work out what it might mean, but obviously the market is doing a kneejerk reaction so I guess it's reversing a lot of the moves that we've seen... you know all the direction of change has been opposite to what we have seen since Liberation Day, but it's not at all clear what this means. "The assumption is that the tariffs that have been announced and are in place will stay in place... Our assumption is President Trump will appeal this trade court's decision and he has the right to appeal... And then it will be up to the federal court and what happens there? I have no idea. So this may be an absolute storm in a teacup or potentially something more significant. "I think it's way premature basically to say that this has the potential to reverse a lot of the moves that we've seen in the last couple of months."
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Business Standard
2 hours ago
- Business
- Business Standard
Trump denies 'chickening out' on tariffs amid frequent rate changes
US President Donald Trump wants the world to know he's no chicken just because he's repeatedly backed off high tariff threats. The Republican president's tendency to levy extremely high import taxes and then retreat has created what's known as the TACO" trade, an acronym coined by The Financial Times' Robert Armstrong that stands for Trump Always Chickens Out". Markets generally sell off when Trump makes his tariff threats and then recover after he backs down. Trump was visibly offended when asked about the phrase Wednesday and rejected the idea that he's chickening out", terming the reporter's inquiry nasty". "You call that chickening out? It's called negotiation, Trump said, adding that he sets a ridiculous high number and I go down a little bit, you know, a little bit" until the figure is more reasonable. Trump defended his approach of jacking up tariff rates to 145 per cent on Chinese goods, only to pull back to 30 per cent for 90 days of negotiations. Similarly, last week he threatened to impose a 50 per cent tax on goods from the European Union starting June, only to delay the tariff hike until July 9 so that negotiations can occur while the baseline 10 per cent tariff continues to be charged. Similar dramas have played out over autos, electronics and the universal tariffs that Trump announced on April 2 that were based in part on individual trade deficits with other countries. In each case, Trump generally took the stock market on a roller coaster. Investors sold-off when the tariff threats were announced as they implied slower economic growth and higher prices, which would hurt companies' profits. Stocks then rebounded after Trump stepped back. As of Wednesday afternoon, the S and P 500 stock index was up slightly so far this year. But the index was down as much as 15 per cent on the year on April 8, a reflection of the volatility that Trump's changing policies have created. He said that approach has led to USD 14 trillion in new investment in the US, a figure that appears to be artificially high and has not been fully verified by economic data. Don't ever say what you said, Trump said with regard to the notion of him chickening out. To me, that's the nastiest question. Trump also said that EU officials would not be negotiating if not for his 50 per cent tariff, saying he usually has the opposite problem of being too tough".
Business Recorder
2 hours ago
- Politics
- Business Recorder
Demise of an ‘indispensable' department
For decades, the Department of Plant Protection (DPP) was one of Pakistan's most quietly effective institutions. It didn't make headlines, but it made food security possible by fighting desert locust and crop / orchard pests. From overseeing pesticide regulation to conducting aerial locust spraying, this department formed the frontline of Pakistan's battle against pest outbreaks including desert locust that could cripple agriculture and destabilize rural economies. That is, until May 2, 2025, when a presidential ordinance dissolved the DPP and replaced it with a new body—NAFSA, the National Agri-trade and Food Safety Authority. The move, packaged as a leap toward modernization and international compliance, has instead raised serious questions about Pakistan's preparedness to deal with agricultural emergencies. The dissolution of DPP marks the end of a chapter that began before Pakistan even founded. The department's origins stretch back to colonial India, and after independence, it became a formal arm of the federal government. As Pakistan's designated National Plant Protection Organization (NPPO), the DPP operated under international treaties and frameworks like the International Plant Protection Convention (IPPC – 1951 revised 1997) and FAO's regional pest control systems including DLCC – desert locust control committee established in 1955 and FAO Commission for Controlling the Desert Locust in South-West Asia (SWAC) is the oldest of the three regional commissions within the global locust early warning and prevention system, which was established in 1964. At the helm in the early days was Dr. Taskhir Ahmed, a British-trained entomologist whose innovations—especially in aerial spraying and pesticide formulation—earned international recognition and laid the groundwork for a modern plant protection regime. Under his guidance, Pakistan developed a pioneering aerial wing including many critical research portfolios / schemes which were later on transferred to what would become the Pakistan Agricultural Research Council. Yet despite this proud legacy, the DPP began its slow decline decades ago. Since 1998, it has not had a permanent, qualified Plant Protection Adviser and Director General, originally the position was PPA&D having its own qualification, experience, and fitness. Political appointments and bureaucratic interference replaced technical leadership caused in appointments from PAS, Pakistan Post and Pakistan Custom cadres too. Resultantly, infrastructure decayed, and staff numbers dwindled, key functions like locust surveillance and aerial operations became neglected. By the time the locust crisis of 2019–2020 hit, the department was already struggling. No benefit was accrued, even by a big grant offered by the World Bank of USD 200 million. Although post-crisis reforms were promised; these were never materialized. Instead, the final blow came this year with the creation of NAFSA—a body that, though well-intentioned, has started off 'dangerously incomplete'. NAFSA was created to align Pakistan with modern plant and animal quarantine under Sanitary and Phytosanitary Agreement viz-a-viz food safety standards, including those set by the WTO and Codex Alimentarius. It replaced outdated legislation from the 1930s and 1970s, and included functions like animal and plant quarantine and pesticides registration too. But two of DPP's most vital operational pillars—desert locust control and aerial pest management—were not absorbed into NAFSA's framework. This is not a technical omission; it is an existential gap. Without a mandate or structure to monitor and respond to pest outbreaks, particularly desert locust, Pakistan has essentially disarmed itself in the face of an environmental as well as recurring threat that knows no borders. The risks are significant. With no operational aerial wing and no active locust division, the country is exposed to future invasions it will be institutionally unequipped to handle. Expertise is being lost as specialists retire or are sidelined. The country risks falling out of compliance with FAO and regional cooperations, jeopardizing its relationships with regional partners like India, Iran, and Oman—a cooperation that is essential for effective cross-border pests / desert locust surveillance. More immediately, any future outbreak of trans-boundary pest could spiral into a national emergency, simply because no federal body will be legally or logistically ready to respond. All of this, ironically, is unfolding in the name of modernization. But modernization without continuity is not progress—it is reinvention without memory. The institutional knowledge built over generations through DPP's field operatives, scientists, and aerial teams being our assets cannot simply be replaced by legislation or an administrative reshuffle. What is needed now is not just a new name, but a coherent structure that blends regulatory reform with operational capacity. The way forward must include the immediate establishment of a Plant Protection Operations Wing under the Ministry of National Food Security & Research. This unit should house the locust control and aerial functions, staffed with trained entomologists, pilots, GIS experts, and pest surveillance officers. Legal support if needed is also critical: a Federal Plant Protection Emergency Act would enable rapid mobilization and coordination across provinces and borders. Pakistan must also reaffirm its commitments to international bodies like FAO and reestablish formal cooperation with neighbouring countries on desert pest control. And in keeping with modernization goals, the aerial wing should be digitized—pivoting toward aircraft / drone-based surveillance and spraying technologies. A dedicated Desert Locust Research and Operations Centre in Balochistan or southern Punjab could serve as the nerve centre for all of these activities, combining real-time data with legacy field intelligence. It is not too late to act. But time is short, and the pests like desert locust won't wait. Pakistan's agricultural resilience now hinges not on its willingness to modernize—but on its ability to do so without forgetting what once made its plant protection system work. Reform must be built upon the legacy, not by erasing it. Copyright Business Recorder, 2025
