US wins WTO ruling against China grain import quotas

GENEVA The United States won a World Trade Organisation (WTO) ruling on Thursday against China’s use of tariff-rate quotas for rice, wheat and corn, which it successfully argued limited market access for US grain exports. The case, lodged by the Obama administration in late 2016, marked the second US victory in as many months. It […]

Worries persist over Turkey’s foreign reserves

Istanbul Turkey’s central bank won’t explain what’s behind the recent moves in its foreign currency reserves — and that’s making investors nervous. The lira weakened more than any other currency on Thursday amid speculation that the central bank was using money borrowed from commercial banks in short-term swaps to inflate its foreign reserve figures. It […]