China, in an apparent effort to strengthen its place as the dominant supplier for electric vehicle (EV) battery technologies, recently implemented new export restrictions on key EV battery technologies such as advanced materials and production equipment essential for lithium-ion and solid state batteries. The Ministry of Commerce and Science and Technology this week unveiled new rules stating that companies looking to export certain battery technologies must now undergo a stringent licensing process and government review. These technologies include cathode materials, electrolyte formulations and high performance anode composites. China is the world’s top producer of electric vehicle batteries, accounting for more...
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Pakistan Funds 20% Defence Budget Increase Through Spending Cuts, Tax Hikes and Foreign Loans
Finance Minister Muhammad Aurangzeb announced on June 12, 2025, a 20% hike in Pakistan’s defence budget for fiscal year 2025-26, raising it from 2.55 trillion rupees (approximately US $9 billion) last month after its armed clashes with India, amid its fragile economy and an IMF programme totalling $7 billion. Fiscal Trade-offs: Subsidies and Spending CutsIn order to accommodate its plan for increasing defense expenditure, India reduced federal spending by 7 percent between 2014-15 from 17.57 trillion rupees down to 16.35 trillion rupees by cutting subsidies and other departmental expenditures, according to sources like Wikipedia and Reuter’s, among others (http://en.wikipedia.org/201212/reuters/201212/m.economictimes/201212).Interest payments...