British Columbia's Minister Eby is planning a trip to Washington D.C. with other Canadian premiers to meet with US decision makers about proposed tariffs imposed by the president-elect. The tariffs, which include an increase on lumber exports from British Columbia, are expected to lead to higher prices for Americans, particularly in energy and electricity costs, affecting both residential and commercial customers.
https://globalnews.ca/news/10946455/bc-premier-david-eby-press-conference-latest/Canadian cabinet ministers are taking seriously US President-elect Donald Trump's threat of economic tariffs, which he has tied to demands for increased border security from both Canada and Mexico. International Trade Minister Mary Ng stated that the Canadian government will respond to the threats by protecting its economy, as tariffs would harm not only Canadian jobs but also the country's position as a top customer of the US.
https://globalnews.ca/news/10948442/donald-trump-tariffs-canada-ministers/China and Congo have agreed to accelerate the development of a high-level community with a shared future, setting an example for China-Africa cooperation in the new era. This decision was made during the Forum on China-Africa Cooperation (FOCAC), which is celebrating its 25th anniversary this year. The two countries will prioritize the implementation of the "10 partnership action plans" and create a three-year development plan for the forum, including a timetable and roadmap. They also reaffirmed their commitment to promoting international fairness and justice.
https://www.globaltimes.cn/page/202501/1326492.shtmlIndonesia's accession to the BRICS bloc is a strategic move that strengthens its position in global politics, particularly with major powers such as the United States and Western European countries. According to Deputy Chairperson of the People's Consultative Assembly Eddy Soeparno, this decision aligns with President Prabowo Subianto's mandate to adopt a free and active foreign policy while prioritizing national interests. By joining BRICS, Indonesia aims to expand its export market, increase economic growth to 7-8 percent, and tap into the bloc's significant economic influence, which has grown from 17 percent in 1995 to over 30 percent in 2022. This membership is expected to generate investment opportunities for infrastructure and renewable energy projects, as well as provide access to knowledge transfer from BRICS countries' specializations such as digitalization in India and technology in China.
https://en.antaranews.com/news/340694/brics-membership-to-boost-indonesias-influence-mpr?utm_source=antaranews&utm_medium=desktop&utm_campaign=popular_rightThe Religious Affairs Ministry of Indonesia has partnered with the United States Embassy in Indonesia through the Fulbright scholarship program managed by the American Indonesian Exchange Foundation (AMINEF). The agreement was signed by Religious Affairs Minister Nasaruddin Umar and US Ambassador Kamala Shirin Lakhdhir, aiming to improve education quality, promote cultural exchanges, and share insights on society and culture between the two countries. Under the partnership, Islamic female students in Indonesia can apply for the Fulbright scholarship, while native English-speaking teachers from the US will be placed at Islamic schools in Indonesia to teach the language. The agreement also includes opportunities for Indonesian lecturers to conduct joint research with their US counterparts and for leaders of Islamic boarding schools to visit the US for comparative studies on Muslim civilization development.
https://en.antaranews.com/news/340670/religious-ministry-us-embassy-ink-agreement-for-education-cooperationMalaysia has imposed provisional anti-dumping duties on polyethylene terephthalate (PET) imports from China and Indonesia, citing unfair trade practices. This move is part of a broader effort by the Singapore government to address longstanding issues in its relationship with Malaysia, according to Prime Minister Lee Hsien Loong. Meanwhile, Indonesia has joined the BRICS bloc as a full member, marking a significant step in President Prabowo Subianto's global ambitions. However, this move may also pose risks for Indonesia's economy. In other news, the Philippines has announced that it will remain vigilant on prices despite meeting its target, while Malaysia and Singapore are exploring opportunities to develop the Johor-Singapore Special Economic Zone.
https://www.businesstimes.com.sg/international/asean/progress-longstanding-issues-key-priority-singapore-malaysia-ties-2025-pm-wongPakistan's Prime Minister Shehbaz Sharif discussed the country's economy with UAE President Sheikh Mohamed bin Zayed Al-Nahyan during a meeting in Rahim Yar Khan. The UAE president agreed to extend a $2 billion loan payment deadline, which was due in January. Sharif also requested investment in key projects and the UAE committed to investing in Pakistan due to their strong brotherly relations. To reduce electricity prices, the government will approach the IMF as part of its National Economic Transformation Plan 2024-29. The Prime Minister highlighted a notable increase in textile exports and plans to discuss further export opportunities with the Indonesian president during his visit later this month. He also emphasized Pakistan's robust relationship with Malaysia and expressed commitment to strengthening it.
https://www.brecorder.com/news/40341625/uae-rolls-over-2bn-debt-pm-tells-cabinetSingapore and Malaysia have launched a joint economic zone project aimed at boosting trade and investment between the two nations. The initiative, which will be established on both sides of the border, is expected to create 20,000 skilled jobs within five years by attracting 50 projects. To facilitate this, policies such as tax breaks, grants, and easier regulations will be implemented, while automated immigration lanes and paperless clearance for goods will be introduced at the border. Singapore's Prime Minister Lawrence Wong and Malaysia's Prime Minister Anwar Ibrahim have expressed optimism about the project, with Wong noting that it is a "commonsense approach to liberalisation of trade and investment" between the neighbours.
https://www.brecorder.com/news/40341615/malaysia-singapore-launch-sez-to-boost-investmentThe global financial markets are experiencing a mixed reaction to recent news. The luxury sector is reacting strongly to the potential imposition of tariffs on high-end goods such as Birkin bags and Gucci shoes, with some analysts warning that this could have a negative impact on consumer spending. Meanwhile, the US dollar has weakened against its Canadian counterpart after Prime Minister Justin Trudeau announced he would step down as leader of his party, sparking concerns about the future of trade relations between the two countries. In contrast, the Seoul stock market rose 1.9 percent despite ongoing political uncertainty, while Tokyo's Nikkei 225 fell 1.5 percent due to a decline in Nippon Steel's shares after its proposed purchase of US Steel was blocked by President Joe Biden.
https://www.montanarightnow.com/national_news/us-european-markets-mostly-rise-as-trump-tariff-plans-in-question/article_d966df49-5e75-511f-a907-65c204b2f5df.html