Author: Central Bureau

Paris: Efforts to transform the European logistics scene have led French maritime giant CMA CGM to team up with leading Italian intermodal transport firm GTS, creating the European Container Network. This new joint venture aims to revolutionize how goods are transported across Europe, prioritizing affordability, reliability, and most importantly, sustainability. The European Container Network combines CMA CGM’s extensive global shipping capabilities with GTS’s established network and expertise in intermodal transportation, which utilizes a combination of trucks, trains, and potentially even barges, to move freight. This collaboration will provide businesses across Europe with innovative door-to-door solutions specifically designed for containerized cargo.…

Riyadh: Saudi Arabia is on the brink of becoming a digital finance leader, with the Fintech Revolution Summit scheduled for April 29th and 30th, 2024, in Riyadh, aiming to fast-track this shift. Hosted by TraiCon Events, the summit will serve as a prime platform for more than 500 experts from the finworld, including fintech innovators, banking executives, and policymakers. The event is set to spotlight Saudi Arabia’s Vision 2030, particularly its goal to escalate cashless transactions to 70% by 2025, showcasing the kingdom’s commitment to a digital-first financial future. A Gathering for a Cashless Future The summit will bring together…

Portsmouth: Admiral Ben Key, the head of the UK’s Royal Navy, emphasized the significant threat posed by Houthi attacks on commercial shipping in the Red Sea. Since the onset of the Israel-Hamas conflict on October 7, 2023, Iran-backed Houthis have escalated their assaults using missiles and drones, disrupting global trade routes and forcing shipping companies to reroute via the southern tip of Africa. This sea denial strategy undermines the lawful use of international waters for trade, as protected under the United Nations Convention on the Law of the Sea (UNCLOS). In an interview at the Raisina Dialogue 2024, Admiral Key…

New Delhi: India will stand firm against integrating non-trade issues within the World Trade Organisation (WTO) discussions, aiming to preserve the organization’s core principles, declared Commerce and Industry Minister Piyush Goyal at the Raisina Dialogue on Friday. The country is actively engaging with global partners to ensure that the foundational guidelines of the WTO are upheld, facilitating free and fair international trade. Goyal highlighted concerns over developed countries advocating for the inclusion of new topics such as trade’s impact on the environment, labor standards, gender issues, trade facilitation, and support for micro, small, and medium enterprises (MSMEs) into WTO negotiations.…

Dubai: Blockchain enthusiasts, mark your calendars! The Global Blockchain Show, organized by VAP Group, is set to take place on April 16-17, 2024 at the majestic Grand Hyatt Dubai. This grand event promises two days of immersive learning, interaction, and collaboration within the thriving Web3 ecosystem. Expect a gathering of over 10,000 attendees exploring the largest blockchain exhibition venue spanning 12,000 sqm. Network with 300 leading experts, startups, and corporations while delving into the latest blockchain trends. Renowned speakers include Lennix Lai, Chief Commercial Officer at OKX; Dominic Williams, Founder & Chief Scientist of DFINITY Foundation; David Palmer, Chief Product…

Intertex Portugal, one of Europe’s most important trade fairs, which has been hosting all product groups for fabrics, yarn, textile raw materials, and accessories, will be held at Europarque, Santa Maria de Feira between 21 and 23 May 2024. The fair, which is held annually, is an important commercial platform where manufacturers with great competitive power in the global textile and fashion market will sign new collaborations and expand their export volume. Intershoes Portugal, an International exhibition of footwear, leather, and accessories industry, and Intertex Machinery Portugal – International exhibition of textile machinery industry are going to take place simultaneously…

Seoul: South Korea continues to secure its spot among the elite top ten defense exporters worldwide, showcasing strong capability and strategic vision within the global defense arena. Achieving about $14 billion in defense exports for 2023, the nation holds its ninth position globally, trailing Spain. This accomplishment shines with expectations for sustained demand this year, supported by significant agreements already underway. Reports from the Korean Ministry of National Defense and local defense firms indicate Korea’s market expansion to 12 countries last year, a leap from four in 2022. Notable new agreements with the United Arab Emirates, Finland, and Norway contributed…

China adorning the title of the ‘world’s factory’ shows no signs of changes in the coming years, according to the figures. In 2023, if exports were $3.38 trillion, in 2024, with a growth of 5% to 7%, China will reaffirm its position at the pinnacle of global trade, studies suggest. Here are the world’s top 5 commodity exporters as of 2023, according to data from the World Bank and other sources. 1. China: With a whopping $3.38 trillion worth of goods exported in 2023, China holds the leading position by a significant margin. This dominance is attributed to its strong…

India’s textile sector, pivotal to the economy and mainly consisting of small enterprises, faces transformative changes. The European Union’s Carbon Border Adjustment Mechanism (CBAM) and strict environmental, social, and governance (ESG) standards are driving this change, presenting both challenges and opportunities for a significant shift in sourcing, production, pricing, and supply processes. Tamil Nadu’s textile and apparel sector, contributing over half the state’s renewable energy capacity, exemplifies sustainability initiatives. With nearly 300 textile processing units in Tiruppur linked to zero liquid discharge effluent treatment plants and Panipat’s spinners solely using recycled fiber, India’s commitment to sustainability is clear. The country’s…

Chennai: In a significant boost to India’s defense capabilities and economic strength, Union Finance Minister Nirmala Sitharaman announced on Friday that India’s defense exports are projected to reach a remarkable USD 320 million by the end of the financial year 2024. This announcement came during an interactive session titled ‘Transforming India into the new decade’ at a city college in Chennai. Record Growth In the current financial year, India has already achieved defense exports worth USD 267 million, showcasing a robust growth trajectory. This surge in exports marks a notable increase from the previous year’s figure and is part of…