Trade
Turkey and Iraq discuss raising bilateral trade to $30 billion
Trade Minister Omer Bolat met with Iraqi Ambassador to implement agreements following recent high-level visits.
Eastern Europe Drives German Export Growth
German shipments to 29 eastern countries rose 7.4% in the first half, reaching €154.4bn.
EnBW connects Germany's largest offshore wind farm in the North Sea
The He Dreiht project, located 110 kilometers west of Helgoland, marks a significant expansion of offshore capacity.
Türkiye raises customs supervision threshold for smartphone imports
New regulation aims to prevent undervalued declarations but may increase retail prices for certain commercial imports.
German states ease truck driving ban as Rhine low water hits economy
Persistent low water levels on the Rhine are forcing companies to cut production and prompting several German states to lift Sunday truck bans.
China's July exports rise 23%, exceeding analyst forecasts
Trade balance grew more than expected as global demand for high-tech components bolstered shipments.
European Commission approves €780 million Dutch hydrogen aid scheme
The state aid package is designed to support the production of renewable hydrogen in the Netherlands.
Sinopec increases Russian ESPO crude imports as Middle East supply shifts
The refinery operator is utilizing Russian oil to offset declining purchases from Saudi Arabia.
Shipping groups urge UN to oppose Strait of Hormuz tolls
Eight maritime associations warn that compulsory charges could harm the global economy.
Trump administration to impose 15% tariff on polysilicon
New trade restrictions targeting the material used in solar panel production
Trump administration processes $100 billion in tariff refunds
The tariffs follow a Supreme Court ruling that stripped presidential authority to impose tariffs under the IEEPA.
LNG transport costs surge following Gulf of Hormuz disruption
Rerouting and rising insurance premiums drive vessel charter rates to heights not seen since 2022
US trade deficit narrows to $73.3 billion in June
A decrease in imports led to a 5.6% month-over-month decline in the US trade deficit.
More than 40,000 ships passed through Turkish straits in first half of 2026
Traffic remained near record levels despite tensions in the Black Sea and Strait of Hormuz.
Iraq aims to export over 700,000 barrels of oil daily through Turkey
Oil Minister Basim Muhammed Hudayyir outlines new energy framework and transit negotiations with Iran.
Venezuela oil exports plunge in July
Reduced demand from India follows a pause in the Iran war that released Middle Eastern supply.
Turkish defense and aerospace exports hit $11.2 billion over 12 months
Exports in July rose 14.4% compared to the previous year, according to Presidency of Defense Industries President Haluk Görgün.
Turkey's July exports reach $25.6 billion, hitting record for the month
Trade ministry data shows July exports rose 2.9% year-on-year amid progress toward annual targets.
Tallinn's Kopli freight yard stays busy with Rail Baltica waste-rock trains
Trains carrying crushed waste rock for Rail Baltica construction will keep Tallinn's Kopli freight yard in use for years, despite stalled ring-railway plans and calls for relocation.
Seven OPEC+ members to increase oil production in September
The production hike involve Saudi Arabia and Russia, with further increases planned for late 2025.
European Commission approves €290 million for Dutch sustainable aviation fuel schemes
The funding aims to accelerate the decarbonisation of the aviation sector under EU industrial and environmental regulations.
Turkey-Maldives Preferential Trade Agreement enters into force
The pact grants Turkish exporters tariff advantages on 404 products and reduces duties on 154 tariff lines for Maldivian goods.
South Korea July exports beat forecasts on AI demand
Robust AI investment demand drove computer and semiconductor exports, bringing total shipments to the $100 billion threshold.
Turkey's June 2026 foreign trade deficit widens 26.2% to $10.37B
Exports and imports both rose by over 20% in June, but the gap grew as imports outpaced exports.
India approves US$8.81 billion offshore oil and gas exploration plan
The 'Samudra Manthan' scheme aims to boost domestic production through deepwater drilling and seismic data acquisition.
EU approves Saudi PIF's $55 billion acquisition of Electronic Arts
The deal cleared review under the European Union's Foreign Subsidies Regulation as part of Saudi Arabia's efforts to expand into the gaming sector.
Heatwave drains Europe's key rivers, crippling industry from Rhine to Danube
Low water levels along major waterways force chemical plants to cut output, nuclear reactors offline, and halt cargo vessels across Central and Eastern Europe.
EU considers probe into Balkan construction imports
Brussels suspects Chinese producers use Balkan assembly to bypass anti-dumping duties on glass fiber.
Korean Air cargo growth driven by AI shipments
High-value semiconductors and server equipment reshape air cargo routes, with Southeast Asia gaining production share and Turkey eyeing transit opportunities.
Canadians Cut $3.3bn in US Travel Spending in 2025 After Trump Return
Statistics Canada data shows a sharp decline in cross-border visits, with travel to other regions increasing.