Latest news with #marketaccess
Reuters
10 hours ago
- Business
- Reuters
China, EU discussed trade remedies, better ties, Chinese commerce ministry say
BEIJING, June 20 (Reuters) - China's and the European Union's trade chiefs had in-depth talks on trade remedy cases such as for electric vehicles, export control and market access, a statement from the Chinese commerce ministry said on Friday. China and the EU also agreed to promote the healthy and stable development of economic and trade relations, the ministry said of the talks held in a video call on Thursday between China's Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic.
Bloomberg
11 hours ago
- Business
- Bloomberg
MSCI Signals South Korea Has More Work to Do to Win an Upgrade
Global index provider MSCI Inc. signaled that South Korea's bid to secure an upgrade to developed-market status continues to face several impediments, even as it lauded efforts by the nation's authorities to improve market access and implement currency reforms. There is need for progress in areas such as ease of capital flows, information flow as well as market structure, according to the New York-based firm's latest annual market accessibility review. It changed South Korea's short-selling rating to a plus from minus after the government ended a controversial ban on the popular trading strategy that was seen hindering market access.
Reuters
15 hours ago
- Business
- Reuters
South Korea's short-selling accessibility has improved, MSCI says
SINGAPORE, June 19 (Reuters) - South Korea's stock market accessibility for short-selling has improved and has no major issues, MSCI said, opens new tab on Friday as investors brace for next week's market classification from the global index provider and hope the country gets an upgrade. The stock market of Asia's fourth-largest economy is currently categorised as an emerging market by MSCI, despite many other metrics indicating its developed-economy status. South Korea has been chasing after developed market status for some years and investors hope next week's classification will include South Korea being added to the watch list for an upgrade. The country in March lifted a full market-wide ban on short selling of stocks for the first time in five years, which had been cited by foreign investors and MSCI as a major factor hindering market access. In its annual market accessibility review, opens new tab released on Friday, MSCI said there has been an improvement in South Korea's short-selling market accessibility, nudging up the rating to "+" or no major issues, improvements possible, from "-" or improvements needed. The benchmark index KOSPI (.KSII), opens new tab has had a stellar year, surging 24%, making it the best performing Asian stock market in 2025 as political clarity and optimism around corporate reforms buoy investor sentiment. An upgrade in the coming years would lead to significant inflows, analysts say.
Wamda
4 days ago
- Business
- Wamda
Egypt's DisrupTech backs Nigerian agri-fintech Winich Farms
DisrupTech Ventures, an Egypt-based early-stage fintech fund, has made its first Sub-Saharan Africa investment by backing Winich Farms, a Nigerian agri-fintech startup, as part of its pre-Series A round. Winich Farms, active in 29 of Nigeria's 36 states, is bridging key gaps in the country's agriculture sector by improving market access and financial inclusion for over 180,000 smallholder farmers. The company plans to expand beyond Nigeria and explore export opportunities to MENA markets, positioning itself as a continental leader in post-harvest agri-fintech. Press release: DisrupTech Ventures Backs Nigerian Agri-FinTech Startup Winich Farms, Marking Its First Investment in Sub-Saharan Africa DisrupTech Ventures, one of Egypt's leading early-stage fintech funds, has announced its first pan-African investment in Nigerian startup Winich Farms, a fast-growing Agri-Tech that is transforming access to markets and credit for smallholder farmers across Nigeria. The investment forms part of Winich's Pre-Series A round. Lagos-based Winich is addressing the most pressing challenges facing Nigeria's agriculture sector, market fragmentation and lack of financial inclusion. Despite agriculture contributing 21% of Nigeria's GDP and employing millions, smallholder farmers—who make up 80% of the farming population and produce 90% of output—remain largely excluded from modern supply chains and financial systems. Commenting on their debut international investment, Mohamed Okasha, Managing Partner at DisrupTech Ventures, stated: 'Our investment in Winich reflects our conviction in the potential of Nigeria's agri-fintech sector and the scalability of its model. Winich is not only solving real problems for smallholder farmers but doing so with a scalable model. Agriculture is also core to Egypt's economy, and we look forward to sharing insights and best practices between both markets as Winich grows across the continent.' From his side, Attai Riches, CEO and Co-founder of Winich Farms, added: 'We are excited to welcome DisrupTech Ventures on board as we enter our next phase of growth. Their experience in scaling early-stage fintechs will be invaluable as we strengthen our operations, empower more farmers, and explore expansion opportunities across Africa and beyond. This partnership reinforces our vision to build a more inclusive and efficient agricultural value chain, starting from Nigeria and reaching out to global markets.' Against the macro backdrop which saw the surge of agri-related input costs and interest rates due to the Naira's devaluation, Winich poses as a timely and impactful solution that addresses both access to market and access to finance—two of the biggest hurdles for Nigeria's agricultural sector. Currently active in 29 of Nigeria's 36 states, Winich is fast becoming a vital link between smallholder farmers and the broader agri value chain. Winich's digital platform connects over 180,000 smallholder farmers directly with off-takers such as processors and small retailers, eliminating layers of intermediaries that often erode farmers' profits. Through a countrywide network of agent collection points, the platform facilitates efficient produce aggregation and logistics without owning physical infrastructure. Their state-of-the-art Winich Cards are helping shift farmers away from cash transactions by enabling digital payments that build financial records—key to qualifying for credit in the future. In addition, Winich provides direct credit and agronomic advisory services, in partnership with Kebbi Agricultural Research Development Agency (KARDA), to help farmers scale operations and improve productivity.
Reuters
10-06-2025
- Business
- Reuters
India and US advance toward interim trade deal after four-day talks, say sources
NEW DELHI, June 10 (Reuters) - Indian and U.S. negotiators made progress in their latest round of talks in New Delhi on Tuesday on a bilateral trade deal, having focused on market access for industrial and some agricultural goods, tariff cuts and non-tariff barriers, Indian government sources said. "The negotiations held with the U.S. side were productive and helped in making progress towards crafting a mutually beneficial and balanced agreement including through achievement of early wins," one of the sources said. The U.S. delegation, led by senior officials from the Office of the U.S. Trade Representative, held closed-door negotiations with Indian trade ministry officials headed by chief negotiator Rajesh Agrawal. Both sides discussed increasing bilateral digital trade, by improving customs and trade facilitation measures, the sources said, adding that "negotiations will continue" for early conclusion of the initial tranche of the trade pact. U.S. President Donald Trump and Indian Prime Minister Narendra Modi had agreed in February to conclude a bilateral trade agreement by fall 2025 and to more than double bilateral trade to $500 billion by 2030. The two sides are expected to sign an interim agreement by the end of the month, before the expiry of Trump's 90-day pause on reciprocal tariffs on major trading partners, including a 26% tariff on India. Commerce Minister Piyush Goyal, currently in Switzerland for talks with European trade partners, said India is prepared to proceed with the deal by first addressing simpler issues. The next phase of negotiations could tackle more complex matters, with the goal of signing the first tranche of the bilateral trade pact by September or October, the officials added. India resisted U.S. demands to open its markets to wheat, dairy and corn imports, while offering lower tariffs on high-value U.S. products such as almonds, pistachios and walnuts, one of the sources said. India also asked the U.S to revoke its 10% baseline tariff. However, the U.S. side opposed this, noting that even Britain was subject to this under its recent bilateral trade agreement. Additionally, India sought an exemption for its steel exports from a 50% tariff. A potential 26% tariff on India would be devastating to Indian goods - including rice, shrimp, textiles and footwear, which together comprise nearly one-fifth of India's merchandise exports - and could severely hit exports and dampen foreign investment inflows. India has pledged to increase purchases of American goods, including energy products like liquefied natural gas, crude oil, coal and defence equipment. India's exports to the U.S. rose 28% to $37.7 billion in the first four months of 2025, while imports increased to $14.4 billion, widening India's trade surplus, according to U.S. government data.
