Day: December 12, 2024

TAIPEI: A significant milestone in Taiwan-US relations was achieved Wednesday with the formal implementation of the first agreement under the US-Taiwan Initiative on 21st Century commercial. This landmark agreement, which focuses on enhancing trade and economic ties between the two nations, covers key areas such as regulatory procedures, trade facilitation, customs administration, and anti-corruption efforts. Both parties have committed to working together to ensure the successful implementation of the agreement’s provisions. The Office of Trade Negotiations hailed the deal as a “significant milestone” in deepening bilateral relations. Key aspects of…

CANBERRA: Australia’s unemployment rate decreased unexpectedly in November, surprising analysts as official figures showed a drop to 3.9%, the lowest since March. The Australian Bureau of Statistics (ABS) released its monthly labor force report on Thursday, revealing that the jobless rate fell from 4.1% in October, contrary to predictions that it would rise to 4.2%. In a report by Xinhua News Agency, the ABS revealed that while analysts had expected a rise in unemployment, the labor market saw positive shifts. The number of jobless Australians dropped by 27,000, while the…

WASHINGTON: In a significant effort to stabilize US-China relations before a possible return of Donald Trump to the White House, key economic officials from President Joe Biden’s administration are set to meet with their Chinese counterparts this week. Treasury Secretary Janet Yellen, in an interview on Wednesday, underscored the importance of “ongoing communications at all levels” to prevent a further deterioration in relations between the world’s two largest economies. Under Biden’s tenure, economic tensions between Beijing and Washington have resurfaced, driven by trade disputes and illicit fentanyl concerns. These tensions…