Euro zone’s trade boomed in May with both exports and imports of goods to the rest of the world growing markedly.The European Union, the world’s main trader, also saw its trade increase with all its main partners, with a surge of exchanges with Russia despite economic sanctions on Moscow. Eurostat said on Friday the 19-country currency area in May exported goods worth 189.6 billion euros (167.08 billion pounds) to the rest of the world, an increase by 12.9 percent on the year. Imports also grew yearly by 16.4 percent for a total volume of 168.1 billion euros. Source: Euronews
A rally was held outside the office of the United Nations in Yemen’s capital Sanaa on Monday to protest against measures of the Saudi-led coalition to hold and prevent ships carrying oil products from docking at Yemen’s ports, the Houthi-controlled Saba news agency reports as the warring parties in the nearly four-year-long conflict hold UN-brokered peace talks in Sweden. Source: Oil Price
A Chinese court has banned the sale and import of most iPhone models in a stunning decision amid the trade war between the United States and China. Source: CNN
Venezuela’s President Nicolas Maduro said on state television that Venezuela would put in place in 2019 a program to sell all its oil production in the Petro cryptocurrency, which the leader is touting as the first state-backed oil-backed digital currency. Source: Oil Price
