Equity benchmark indices Sensex and Nifty ended higher on Wednesday, extending their previous day's rally, on optimism over the India-EU landmark free trade agreement.Photograph: Danish Siddiqui/ReutersThe 30-share BSE Sensex jumped 487.20 points or 0.60 per cent to settle at 82,344.68.During the day, it soared 646.49 points or 0.78 per cent to 82,503.97.The 50-share NSE Nifty surged 167.35 points or 0.66 per cent to end at 25,342.75.From the 30-Sensex firms, Bharat Electronics surged nearly 9 per cent post ...

Group 1 - David Kotok co-founded Cumberland Advisors in 1973 and served as its Chief Investment Officer until December 2024 [1] - He has contributed to major financial publications and media outlets, enhancing his visibility in the financial market [1] - Kotok has authored or co-authored five books, with the latest set to release in 2025 [1] Group 2 - He holds multiple degrees from the University of Pennsylvania, including a B.S. in economics and an M.S. in organizational dynamics [1] - Kotok has been involved in global economic dialogue through the Global Interdependence Center, aiming to improve international cooperation [1] - He has received the Global Citizen Award for his contributions to global dialogue and free trade [1] Group 3 - His roles have included serving on various advisory boards and economic councils, indicating a strong influence in economic policy discussions [1] - Kotok has held positions in state authorities, showcasing his involvement in regional economic development [1] - His experience spans multiple continents, reflecting a broad understanding of global economic interdependence [1]

Core Insights - The services sector of the economy expanded at its fastest pace in December, marking its 10th month of growth in the last 12 months, while the manufacturing sector continued to struggle, slowing down for the 10th consecutive month [2][4][9] Group 1: Economic Performance - The services sector constitutes 73% of the economy as measured by Gross Domestic Product, compared to manufacturing's 9% share, indicating the services sector's dominance in economic activity [5] - Employment in the services sector expanded in December for the first time since May, contrasting with manufacturing, which has lost an average of 9,600 jobs per month since April [6] Group 2: Impact of Tariffs - Tariffs imposed last year aimed to protect U.S. manufacturing but have instead led to increased costs, reduced demand, and job losses in the manufacturing sector [3][9] - Managers in various industries, including chemicals and food services, reported that tariffs have raised prices and created uncertainty, negatively impacting their operations [5][8] Group 3: Economic Outlook - Despite the struggles in manufacturing, the overall economy appears to be growing at a solid pace, supported by the resilience of the services sector [10] - The continued expansion in services suggests that the economy is still on a growth trajectory, even if it did not end the year on a high note [10]

Core Points - China has launched island-wide special customs operations in the Hainan Free Trade Port (FTP), enhancing free trade and business-friendly measures [1][3] - The Hainan FTP is now designated as a special customs supervision zone, marking a significant development in its evolution [3][4] - The share of zero-tariff products in the Hainan FTP has increased from 21% to 74%, expanding the list of zero-tariff items from 1,900 to over 6,600 [5][6] Summary by Sections Free Trade and Business Environment - The new customs arrangements allow foreign companies to benefit from a business environment aligned with international standards, lower tax and production costs, and broader access to service sectors [4] - Hainan is positioned as a platform for foreign companies to access the vast Chinese mainland market [4] Customs Operations - The special customs system includes "freer access at the first line" for trade between Hainan and areas outside China's customs borders, and "regulated access at the second line" for goods moving from Hainan to the mainland [5] - Zero-tariff goods processed in Hainan can be sold to the mainland duty-free if local processing adds 30% or more in value [6] Historical Context and Development Goals - Hainan has evolved from an underdeveloped frontier outpost to China's largest special economic zone since 1988, with over 9,600 foreign-invested enterprises established since 2020 [7] - The launch date of December 18 aligns with the anniversary of a significant CPC meeting in 1978, marking the beginning of China's reform and opening-up era [8]

For the first time in decades, German businesses and politicians are questioning the unfettered free trade that turned the country into an industrial powerhouse https://t.co/4lBSx1We4G ...

Group 1 - Nvidia's H200 chips are a significant technological advantage for the U.S., raising concerns about selling them to China, which is seen as a competitor [3][5] - The editorial suggests that selling Nvidia chips to China could reduce the availability of computing resources for U.S. firms, particularly startups [6] - The notion that restricting sales to China would protect U.S. technology overlooks the reality that technology is often revealed through sales and competition [5][8] Group 2 - The argument that Nvidia's sales to China could harm U.S. innovation is compared to the music industry, where the best projects should be prioritized over the origin of the creators [6][7] - The collaboration between U.S. and Chinese companies in AI is viewed as beneficial for global progress, suggesting that trade can enhance safety and prosperity [8] - The editorial's stance against free trade contradicts its historical advocacy for open markets, raising questions about its consistency [8]

SAN JOSE, CALIFORNIA - MARCH 18: Nvidia CEO Jensen Huang delivers a keynote address during the Nvidia GTC Artificial Intelligence Conference at SAP Center on March 18, 2024 in San Jose, California. The developer conference is expected to highlight new chip, software, and AI processor technology. (Photo by Justin Sullivan/Getty Images)Getty ImagesNvidia co-founder Jensen Huang has had a very positive influence on President Trump. The same individual who has long said the word “tariff” is one of the more beau ...

The North American free trade trade deal is up for review next year, and one expert is urging Canada to get to be ready for maximum Trump leverage https://t.co/tICaiyUrFB ...

Credit where credit's due, President Trump made a big bet that the US had a magnetic appeal and that would enable him to get a better deal from US trade partners and companies that want to do business in the United States. On the evidence of the last few months, that bet is playing out pretty nicely. Did the economics profession get it wrong on tariffs or is the impact just delayed.Economists don't agree on much. One thing they do agree on is that free trade is good and that tariffs are bad. If we were to t ...

“The real winner of rules-based free trade has been China” and the US has never met a competitor with a similar scale and willingness to reorder the world, says Singapore’s top diplomat Vivian Balakrishnan in an interview at the #NewEconomyForum in Singapore.Follow the latest, news and updates here: https://t.co/UmzuzSob5x ...