Tag: #GlobalTrade
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OIL ROUTES ON EDGE: IRAN WARNS U.S. BLOCKADE COULD SPARK SHOWDOWN
One blockade, one warning and the world’s busiest shipping lanes could be caught in the crossfire. Tensions are heating up in the Middle East as Iran signals it may escalate militarily if a new naval blockade by the United States disrupts its oil and commercial shipping. Iranian officials say any interference with their vessels would…
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€1.67B RAIL BOOST: TÜRKİYE, WORLD BANK LINK UP TO UNLOCK GLOBAL TRADE ROUTE
From Beijing to London, a faster track is coming — and Istanbul is right at the centre of it. Big money, bigger ambition. Türkiye and the World Bank have sealed a €1.67 billion deal to power the Istanbul Northern Railway Crossing Project — a move set to ease one of global trade’s biggest bottlenecks. The…
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IRAN: NON-HOSTILE SHIPS ALLOWED SAFE PASSAGE THROUGH STRAIT OF HORMUZ
Amid rising regional tensions, Iran says commercial shipping can continue—so long as vessels follow security rules and avoid hostile activity. The Iranian foreign ministry has clarified that non-hostile vessels are allowed safe passage through the Strait of Hormuz, under specific conditions. According to a statement circulated via the International Maritime Organization, ships from countries not…
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NAVY SEEKS DENMARK ALLIANCE TO SECURE GULF OF GUINEA
Nigeria is strengthening global partnerships to tackle piracy and maritime threats in one of the world’s busiest shipping corridors. The Nigerian Navy is pushing for deeper collaboration with Denmark to boost security in the Gulf of Guinea. Chief of Naval Staff, Idi Abbas, made the call during talks with Danish Ambassador Jen Hansen in Abuja,…
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NIGERIA, UK CUSTOMS PARTNER TO BOOST TRADE & DIGITAL BORDER CONTROL
Nigeria is stepping up trade efficiency with the UK—this time through smarter data, tech, and tighter customs cooperation. The Nigeria Customs Service (NCS) has strengthened ties with the UK’s His Majesty’s Revenue and Customs (HMRC) to improve trade facilitation and digital border management. The move follows a high-level meeting in London under the Nigeria-UK Enhanced…
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MALAYSIA–NIGERIA TRADE HITS $664M AS EXPORTS SURGE 20%
Stronger ties, bigger deals — Malaysia ramps up exports to Nigeria, driven by palm oil, machinery, and booming partnerships. Trade relations between Nigeria and Malaysia are heating up, with Malaysia’s exports to Nigeria jumping by 20.7% to $664 million in 2025 — a sign of deepening economic ties. Data from the Malaysia External Trade Development…
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OIL TENSIONS COULD PUSH NIGERIA INFLATION HIGHER, SAYS SEREC
Nigeria could see inflation rise 3–5% amid the escalating U.S.-Iran conflict, warns the Sea and Empowerment Research Centre (SEREC). Eugene Nweke, SEREC’s Head of Research, said disruptions in the Strait of Hormuz—the key route for one-fifth of global crude—could spike oil prices, shipping costs, and insurance premiums worldwide. While Nigeria might gain short-term oil revenue,…
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GULF CRISIS COULD SPIKE FUEL, FOOD PRICES — ECOWAS WARNS NIGERIA, WEST AFRICA
A conflict thousands of kilometres away could soon hit wallets across West Africa. The Economic Community of West African States (ECOWAS) has raised alarm over escalating hostilities in the Gulf region, warning that a prolonged crisis could drive up fuel and food prices in Nigeria and neighbouring countries already grappling with inflation and currency pressures.…
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MALAYSIA TO REVIEW TRADE AGREEMENT WITH U.S. AMID LEGAL UNCERTAINTIES
Prime Minister Anwar Ibrahim says Putrajaya is closely watching U.S. tariff disputes and Supreme Court rulings to safeguard national interests and $94B bilateral trade. Malaysia is carefully evaluating its stance on the Agreement on Reciprocal Trade (ART) with the U.S., Prime Minister Anwar Ibrahim told parliament on Tuesday. He noted ongoing legal developments in Washington,…
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LFZ GREEN CHANNEL TO BOOST PORT EFFICIENCY, CUT BUSINESS COSTS – CUSTOMS
New customs corridor promises faster cargo clearance, more jobs, and stronger port competitiveness. The Lagos Free Zone (LFZ) Green Channel, inaugurated on Wednesday at Ibeji-Lekki, is set to transform port operations in Nigeria. Comptroller-General of Customs, Bashir Adeniyi, said the initiative will make Nigerian ports more competitive, reduce business costs, and improve revenue collection. The…
