Outcomes of the recent China-US economic and trade talks in Kuala Lumpur include US cancellation of the 10-per cent ‘fentanyl tariffs’ and suspension, for an additional year, the 24-per cent reciprocal tariffs levied on goods from China, Hong Kong and Macau. China will make corresponding adjustments to its countermeasures, China’s Ministry of Commerce has said.

Both sides agreed to continue extending certain tariff exclusion measures, a ministry spokesperson said.

Outcomes of the recent China-US talks in Kuala Lumpur include US cancellation of the 10-per cent ‘fentanyl tariffs’ and suspension, for another year, the 24-per cent reciprocal tariffs on goods from China, Hong Kong and Macau.
China will make similar adjustments to its countermeasures.
Both sides will continue extending certain tariff exclusion measures.
China will resolve TikTok issues with the US.

The United States will suspend for one year the implementation of a new rule announced on September 29 that expands its ‘entity-list’ export restrictions to any entity that is at least 50 per cent owned by one or more entities on the list.

China will suspend the implementation of relevant export control measures announced on October 9 for a year and will study and refine specific plans, the spokesperson was cited as saying by a state-controlled news agency.

The US side will suspend the implementation of measures under its Section 301 investigation targeting China’s maritime, logistics and shipbuilding industries for a year. China will follow by suspending the implementation of its countermeasures for a year.

In addition, the two sides also reached consensus on issues including anti-drug cooperation on fentanyl, expanding agricultural product trade and the handling of individual cases involving relevant enterprises, the spokesperson said.

China will properly resolve issues related to TikTok with the US side.

Chinese President Xi Jinping said in Busan, South Korea, yesterday that he is ready to continue working with President Donald Trump to build a solid foundation for bilateral ties, and create a sound atmosphere for the development of both countries.

“China and the United States should be partners and friends. That is what history has taught us and what reality needs,” he said.

It is normal for the two leading economies of the world to have frictions now and then, Xi noted.

He called on teams from both sides to work out and finalise the follow-up steps as soon as possible, and ensure that the common understandings are effectively upheld and implemented, to inject confidence into the two countries as well as the global economy through solid deliverables.

Fibre2Fashion News Desk (DS)

OVS, Italy’s leading fashion brand, opened its doors in India with the launch of its flagship store at Pacific Mall, Tagore Garden. The mall is one of Delhi’s most iconic shopping destinations, celebrated for its dynamic mix of international brands, immersive experiences, and trendsetting lifestyle offerings. The grand opening marks a major milestone in OVS’ global expansion, bringing Italian design, craftsmanship, and contemporary style to Indian customers.

Ahead of the official store opening, a ribbon-cutting ceremony was held in front of a cheerful crowd of customers eagerly waiting to step inside. The first 100 shoppers received exclusive gifts, including a gift hamper on purchases of INR 6,000 or more.

Italian fashion brand OVS has debuted in India with a 9,000 square feet flagship store at Pacific Mall, Tagore Garden, Delhi.
The launch featured a ribbon-cutting ceremony, exclusive gifts for early shoppers, and a pop-up tram-themed installation previewing OVS’ Italian style.
The brand aims to blend Italian design, affordability, and sustainability for fashion-conscious Indian consumers.

Spread across 9,000 sq. ft., the new OVS store drew a strong turnout of Delhi shoppers and fashion enthusiasts, who explored the brand’s diverse collections for the first time. From everyday essentials to statement pieces, the store reflects OVS’ mission of making Italian design, modern style, and trend-forward fashion accessible to all.

Ahead of the store launch, OVS unveiled an exclusive pop-up installation inside the mall from 20th September to 21st October designed to offer shoppers a first-hand preview of the brand’s Italian style and design sensibilities. Styled like a vibrant European tram, the experiential space showcased curated apparel from OVS’ latest collections, allowing visitors to interact with the brand and get a sense of its quality and aesthetic.

Reflecting on the global significance of this launch, Carmine Di Virgilio, Global Chief Retail Officer, OVS, said, “India is one of the world’s most exciting fashion markets, and we’re thrilled to bring OVS here. With our blend of Italian design, affordability, and sustainability, we aim to offer style that’s accessible and meaningful. ‘Love People, Not Labels’ is at the heart of what we do, celebrating individuality and connecting authentically with our customers. This launch is an important milestone in our international growth journey and underlines our commitment to serving fashion-forward customers across diverse markets.”

Mr. Sundeep Chugh, Managing Director, OVS India added, “The overwhelming response to our debut in Delhi is a testament to the city’s appetite for international fashion experiences. Our flagship store offers a modern, seamless shopping experience that reflects our Italian roots while catering to the tastes of Indian consumers. OVS will quickly become a trusted name for those who seek quality, style, and value, all under one roof.”

Inside the new store, shoppers can discover an extensive range of offerings, from everyday essentials to premium collections such as OVS mainline, PIOMBO, B.Angel, Les Copains, Utopja, Altavia and BST. Each collection is thoughtfully designed and developed by the OVS design team, combining modern aesthetics with high-quality fabrics to meet the evolving preferences of style-conscious Indian consumers.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)

India’s Maharashtra state recently signed a memorandum of understanding (MoU) with Abu Dhabi Ports and the Investment Resource & Presidential Office of Abu Dhabi.

The MoU envisions investments up to $2 billion across sectors like shipbuilding, ship-breaking, water transport, port infrastructure and sports management, State Minister of Ports Development Nitesh Narayan Rane posted on X.

India’s Maharashtra state recently signed an MoU with Abu Dhabi Ports and the Investment Resource & Presidential Office of Abu Dhabi.
The MoU envisions investments up to $2 billion across sectors like shipbuilding, ship-breaking, water transport, port infrastructure and sports management.
The initiative aligns with Maharashtra’s long-term plan for blue economy-led growth.

The initiative aligns with Maharashtra’s long-term plan for blue economy-led growth.

“It is a proud moment for us as we are developing the maritime ecosystem in the state. The total investment envisaged is ₹56,000 crore, but apart from that there are strategic MoUs in areas of technology and human resources. With these MoUs, we will move towards achieving our aim of making Maharashtra a maritime superpower,” Maharashtra’s Chief Minister Devendra Fadnavis said.

In total, 15 MoUs have been signed in this sector, with the largest allocation of ₹420 billion for the expansion of Dighi Port. JSW Infrastructure Ltd plans to invest ₹3,7.09 billion in expanding its Jaigad and Dharamtar ports.

Further commitments came from Chowgule Group, Synergy Shipbuilders, and Goa Shipyard to set up shipbuilding facilities in the state.

Fibre2Fashion News Desk (DS)