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BBCNEWS World Business Report July 7, 2024

we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that comes with them if as of august producing the same amount you are back most members of opec plus in the uae only to members which have limited spare capacity. that boils down to them whether they will be able to boost production substantially to balance the market and bring down oil prices. it s very unlikely they are going ....

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BBCNEWS World Business Report June 4, 2024 04:38:00

Sand to taiwan. even before the nancy pelosi s he ll set the ground in taipei that chinese general administration listed 2000 products with an import suspension from taiwan and some of them include food manufacturers pastry makers and dairy farms, what we are focusing on is the suspension of more items but especially what we are looking at is semiconductors, we are looking at alec tronics and its parts and machinery, plastics and chemicals, these are the items that could have a huge impact notjust that could have a huge impact not just on the that could have a huge impact notjust on the thai winners economy but also may be the global one as well because they do make these products, they shipped them to china which then makes other products, they are shipped to the rest of the world and we have had supply chain issues, according to taiwanese officials trade between china and the island is about $189 billion at least that s what it was in 2021, if ....

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BBCNEWS World Business Report June 4, 2024 04:36:00

In the us recession but low growth and parts of asia softening gdp demand lots of those developed countries in southeast asia and china, the combined effect as we probably won t see especially strong growth, and that will keep a lid on prices probably going much above a barrel, and therefore, i think the opec countries who want to keep their revenues flowing in not be very inclined to take more action. and i don t think president biden s trip has made much difference at all, it has gone by with relatively little focus for the media attention, and they are not ready that inclined to help them out this time. ., , ., , more now on our top story and the visit of nancy pelosi to taiwan. as you ve been hearing, the speaker of the house of representatives arrived on the island late tuesday and today has met taiwan s president and other members of parliament. ....

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BBCNEWS World Business Report June 4, 2024 04:30:00

This is bbc news with the latest business headlines for viewers in the uk and around the world. the world s most powerful oil cartel meets again but will it do what president biden and others want and increase production? a growing risk of conflict along the taiwan strait. we look into what s at stake for the global semi conductor industry. demand for holidays surges around the world as tourists make the most of the lifting of covid restrictions so has aianb benefited? we find out. ....

Bbc News , Oil Cartel , Business Headlines , Around The World , S Focus On Taiwan , Covid Restrictions , Semi Conductor Industry ,

BBCNEWS World Business Report June 4, 2024 04:31:00

We will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that ....

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