South Korea is aiming to cut down on the proportion of crude oil imports from the Middle East to 50% by 2035, as it seeks to diversify energy sources and mitigate risks of interruptions to international shipping lanes. The target forms part of a new 10-year plan for the security of natural resources announced by South Korea’s Industry Ministry. The… Continue reading South Korea Targets 50% Middle East Crude Dependence by 2035
During the first two months of the 2026-27 fiscal year, Pakistan’s rice exports have reached a record high, driven by robust growth in both Basmati and non-Basmati varieties. Provisional data released by Pakistan Bureau of Statistics (PBS) shows that the country exported approximately 654,619 metric tonnes of rice valued at $391.7 million in July and August. This was 24.7% up… Continue reading Pakistan Rice Exports Reach Record 655,000 Tonnes in Two Months
China has cut its purchases of U.S. Treasury securities to the lowest level since around 18 years ago, according to the latest U.S. government data. Beijing had approximately $618 billion worth of U.S. Treasuries at the end of July compared to $633.4 billion in June. The July figure was the lowest since August 2008, when China’s Treasury stocks were approximately… Continue reading China Cuts U.S. Treasury Holdings to 18-Year Low at $618 Billion
The euro area’s annual inflation rate went up to 3.2% in August, Eurostat said in its final release, down from the previous estimate of 3.3%. The August rate was higher than July’s 2.9% rate and a year ago’s 2%. Consumer prices increased 0.4% from the previous month. Energy continued to be the largest contributor to inflation, up 14.3% from a… Continue reading Euro Area Inflation Revised Down to 3.2% in August
China has opened up the Pinglu Canal in Guangxi, which is a shorter water route connecting the country’s southwest to the sea, and access to Southeast Asian markets. The 134.2-kilometre canal links Nanning with the Beibu Gulf, an alternative to the historic routes through Guangdong. The cargo from the southwest region of China will no longer have to go through… Continue reading China Opens Pinglu Canal to Boost Trade With Southeast Asia
The unemployment rate in Sweden went up to 8.5% in August, up from 7.8% in July, Statistics Sweden reported. The number of the unemployed was 505,000 people and the employed were approximately 5.4 million people during the month. The number of jobs was 103,000 more than in August 2025. It was the latest rise following a drop in unemployment from… Continue reading Sweden Unemployment Rate Rises to 8.5% in August
The average price of diesel in the U.S. exceeded $6 per gallon for the first time, exacerbating inflation worries amidst continuing fuel supply disruptions. AAA reported the national average on Friday was $6.06 per gallon, beating the record of $5.82 which occurred during Russia’s invasion of Ukraine in 2022. Fuel prices also went up, to $4.29 per gallon of gasoline.… Continue reading US Diesel Prices Surge Above $6 for First Time
