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 by Staff Writers Panama City (AFP) Oct 12, 2018
A record 442 million tons of cargo was shipped through the Panama Canal over the past fiscal year, despite the US-China trade war, officials said Thursday. The figure reflects a 9.5 percent rise compared to last year, the waterway's administration said in a statement. "The Panama Canal closed the 2018 fiscal year (October 1, 2017 to September 30, 2018) with a historic tonnage record of 442.1 million tons," it said. The main routes passing via the canal in terms of amount of cargo were from the US east coast to Asia and South America. An estimated five percent of global maritime trade passes through the canal, with almost two-thirds going to or coming from the US. This year's record was set despite the trade war between the US and China, its two main users, with 86 percent of 2017's total cargo. But canal administrator Jorge Quijano recently said a $50 million fall in revenue is projected for the coming year as a result of the feud between Washington and Beijing.
US tightens restrictions on foreign investment in key sectors Washington (AFP) Oct 10, 2018 The US government on Wednesday announced a plan for tougher oversight of foreign investment in key technology industries, a move seen as largely targeted at China. President Donald Trump has accused China of rampant theft of American technology and used that as justification for imposing punitive tariffs on thousands of products amounting to more than $250 billion in annual imports. The new rules, which take effect November 10, updated 30-year-old statutes giving the president broad powers to bl ... read more
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