On January 7, 2025, several significant events took place globally. In Southeast Asia, Malaysia and Singapore signed a joint agreement to establish a special economic zone at the leaders' retreat in Johor. Meanwhile, Hong Kong eased its investment thresholds to attract more family offices. In other news, Indonesia officially joined the BRICS bloc as a full member, according to Brazil. In South Korea, investigators sought a new warrant to arrest President Yoon, while the Philippines vowed to remain vigilant on prices despite meeting its target. Former New York mayor Rudy Giuliani was held in contempt of court in a defamation case. Additionally, former US president Donald Trump hinted at imposing tariffs but did not specify how he would do so.
https://www.businesstimes.com.sg/international/hong-kong-eases-investment-thresholds-attract-family-officesMalaysia and Singapore have reached an agreement on a special economic zone in Johor, Malaysia, aimed at promoting investment and facilitating the movement of goods and people between the two countries. The plan was first proposed a year ago as part of their efforts to deepen economic ties.
https://www.manilatimes.net/2025/01/08/business/foreign-business/malaysia-singapore-announce-sez-deal/2032228Sardar Dr. Rashid Ilyas Khan, the president of The Centaurus Group, met with members of the Saudi Royal Family, including Prince Mansoor Bin Muhammad Saad Al Saud, to discuss investment collaboration between Pakistan and Saudi Arabia. The meeting aimed to foster mutual business opportunities and enhance bilateral economic ties. Sardar Dr. Rashid welcomed the Saudi delegation on behalf of Pakistan's business community, highlighting the deep-rooted brotherly relationship between the two nations. He assured the Saudi royals of Pakistan's commitment to creating a conducive environment for Saudi investments and strengthening trade partnerships.
https://www.thenews.com.pk/print/1269435-investment-collaboration-between-pakistan-saudi-arabia-discussedPakistan's economy is expected to receive a boost from the visit of President Sheikh Mohammed bin Zayed Al Nahyan of the United Arab Emirates (UAE), who has committed to invest $10 billion in various sectors. The Lahore Chamber of Commerce and Industry (LCCI) office-bearers believe that the UAE plays an important role as one of Pakistan's top trade and investment partners, with bilateral trade reaching a significant level. Pakistan exports textiles, rice, fruits, vegetables, and leather products to the UAE, while importing petroleum products, machinery, aluminum, and chemicals from the country. The LCCI office-bearers identified areas for deepening cooperation between the two countries, including investments in solar, wind, and hydropower projects to address Pakistan's energy crisis, collaborative ventures in modern farming techniques and agri-processing to improve food security, and tourism and hospitality development to attract UAE visitors and promote cultural exchanges. They also urged UAE investors to explore Pakistan's Special Economic Zones (SEZs) as a gateway for establishing strong industrial bases in Pakistan and benefiting from regional connectivity.
https://www.brecorder.com/news/40341395/lcci-welcomes-visit-of-uae-presidentThe United States has eased some economic sanctions on Syria in a gesture of goodwill to its people and interim government, which took power after President Bashar al-Assad's regime fell to a rebellion in December. The move does not lift individual sanctions or allow transactions with entities involved in the military or intelligence sectors, nor with countries that supported Assad such as Iran and Russia.
https://www.upi.com/Top_News/US/2025/01/06/Syria-sanctions-eased/7321736215580/The US government is considering imposing tariffs on a range of critical goods including defense supplies such as steel, iron, aluminum, and copper, medical supplies like syringes, needles, vials, and pharmaceutical materials, as well as energy production components including batteries, rare earth minerals, and solar panels.
https://www.fakti.bg/en/world/939749-trump-s-team-is-considering-the-size-of-tariffs-for-individual-countriesChina has expressed its willingness to deepen political ties with Namibia by enhancing exchanges between parties and governance experience, increasing ideological alignment, and providing guidance for the development of bilateral relations. China also offered to provide significant economic support to help Namibia transform its natural resources into economic benefits for its people, while working together to advance their respective modernization processes. This offer is in line with the long-standing friendship and cooperation between the two countries, as stated by Mbumba, despite their differences in size.
https://www.globaltimes.cn/page/202501/1326395.shtmlChina's stock exchanges and central bank are taking steps to calm investors' concerns about the impact of Donald Trump's return to the US presidency on the Chinese economy. The measures come as the yuan has fallen and mainland bond yields have decreased due to Trump's threats of imposing tariffs on Chinese imports, which could potentially harm China's economic growth.
https://www.manilatimes.net/2025/01/07/business/top-business/china-scrambles-as-yuan-stocks-fall/2031761Consul General Hussain Muhammad expressed optimism about the newly elected leadership of the Pakistan Business Council (PBC) in Dubai, stating that they would play a more effective role in fostering trade and business ties between Pakistan and the UAE. The current bilateral trade volume stands at approximately $8 billion. Shabbar Merchant, the newly appointed chairman of the PBC Dubai, emphasized the importance of aligning future trade with modern economic demands, giving startups a significant role. Senior members Mustafa Hemani and Ahmed Sheikhani called for a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade between Pakistan and the UAE, which could reduce tariffs on Made-in-Pakistan products and boost exports. The PBC also plans to organize informative awareness sessions in Dubai for Pakistani entrepreneurs to educate them about the tax system and provide guidance for new ventures.
https://www.thenews.com.pk/print/1269136-pak-uae-trade-has-potential-to-triple