Panama’s President Juan Carlos Varela announced late on June 12 his intention to break diplomatic relations with Taiwan in exchange for recognition from China. [...] Taiwan’s formal diplomatic relations are particularly susceptible to Chinese offers of aid and investment. For decades both Beijing and Taipei were accused by the other of engaging in “dollar diplomacy” or “checkbook diplomacy,” where various forms of international aid appear tied to switching diplomatic recognition.

Kim Young-tae, a Korean transport policy expert, on Thursday was named secretary general of the International Transport Forum (ITF), an intergovernmental body under the OECD. It is the first time a Korean has been named to a director position of A7, the highest among grades that range from A1 at the OECD. [...] "Well, Korea as a country has been spotlighted for its rapid development. It rose from the ashes of war. Many countries want to learn how Korea built its top-notch transportation infrastructure in such a short amount of time." He said

The United Nations Security Council will vote on Friday on a U.S. and Chinese proposal to blacklist more North Korean individuals and entities after the country's repeated ballistic missile launches, diplomats said on Thursday. The draft resolution, seen by Reuters, would sanction four entities, including the Koryo Bank and Strategic Rocket Force of the Korean People's Army, and 14 people, including Cho Il U, who is believed to head North Korea's overseas spying operations.

Bangkok professionals are not strangers to the difficulties created by cultural differences, and the need to navigate cross-cultural relationships effectively is becoming more important than ever. The city’s historic position as a hub for the high-growth ASEAN region, and the fact that many multinational companies, such as Exxon Mobil, Huawei, and Unilever, have set up regional offices in the city, has required professionals here to constantly build and maintain a culturally diverse range of business relationships. 

The economic and commercial relations between Romania and Spain will also be promoted through the recently established Commercial Diplomacy Chamber with the Kingdom of Spain, an NGO that is aiming to also support the collaboration in tourism, agriculture, scientific research, healthcare, telecommunications, fight against corruption, intellectual property and consumers' protection. [...] Currently, over one million Romanian nationals live and work in Spain, and the Spanish business milieu is represented in Romania by over 6,000 legal entities.  

The Ministry of Economy has announced that preparations for the ‘World Trade Development Week 2017’ to be held in Dubai from 30 October to 1 November, 2017, are underway. [...] HE Al-Kait revealed the main agendas of the three-day event happening under the theme ‘Navigating Global Trade & Reviving Global Growth’. More than 1,500 representatives from government entities and local and international private institutions are expected to attend the World Trade Development Week in Dubai, ahead the WTO Ministerial Conference. 

British chancellor Philip Hammond has called for closer economic ties with China as Britain enters a new post-Brexit era. As early as in 2015 when Chinese President Xi Jin-ping made his first state visit to the United Kingdom, which ushered a “golden age” to bilateral relations, the two great powers declared their consensus in working together with all Belt and Road project partners. [...] China and Britain need to use Xi’s proposed Belt and Road Initiative to raise awareness of the mutual benefits and overall exchanges of people to people of the two countries. 

The first Africa Business Summit of NRI forum Gopio began with a call to diaspora Indians to help develop the economies of their own countries and India, using resources they have built over the decades. The three-day summit in Durban organised by Global Organisation of People of Indian Origin (Gopio), a non-profit global movement to fight human rights violation of overseas Indians, has brought together 200 delegates from across the globe. [...] It's known that "Indians at all levels continue to set an example and play a role in uplifting the countries where they find themselves."