Author: Central Bureau

A milestone for green transportation, the World Economic Forum (WEF) disclosed the establishment of India’s ‘first zero emission road’ freight cluster initiative. Revealed during the G20 Energy Ministers’ meeting, this groundbreaking step targets a substantial reduction of India’s greenhouse gas emissions amidst the country’s burgeoning road freight demands, projected to rank as the world’s second largest within the next decade. The bold venture, titled ‘Moving India’, aspires to dispatch over 550 zero-emission trucks along key road arteries through Gujarat and Maharashtra. Collaboration between India’s Ministry of Ports, Shipping and Waterways and NITI Aayog’s e-FAST India program provides strong backing for…

Saudi Arabia, the world’s top oil exporter, has reassured Japan, a major importer of its crude, of a secure supply of oil, and pledged to advance their joint efforts in clean hydrogen cooperation. This commitment came from Saudi Energy Minister Prince Abdulaziz bin Salman, amid the backdrop of Japan’s heightened energy concerns. Saudi Arabia supplies 40% of Japan’s oil needs. The minister stressed the mutual commitment to advance collaboration in clean hydrogen and related applications, as well as the development of infrastructure for a circular carbon economy, in a statement reported by the official Saudi Press Agency. Earlier this year,…

The United Kingdom has officially signed a treaty to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major Indo-Pacific trade bloc, marking its most significant trade agreement since Brexit. On Sunday, the UK Business Minister Kemi Badenoch signed the accession protocol for the CPTPP in Auckland, New Zealand. This move has been lauded by Brexit supporters as a significant boost for UK growth, while critics suggest its benefits are marginal compared to EU trade. Badenoch praised the deal as a ‘modern and ambitious agreement,’ emphasizing that the UK’s participation in the CPTPP demonstrates its commitment to open…

Senior representatives from the US, Mexico, and Canada, aiming to bolster SMEs globally, have pledged their collective efforts towards introducing strategies aimed at fostering competitiveness and stimulating Small and Medium Enterprises’ (SMEs) proactive engagement in international trade. This resolution took center stage at the third assembly of the United States-Mexico-Canada Agreement (USMCA) Free Trade Commission, which recently convened in the Mexican city of Cancun. Participants in this pivotal discussion included US Trade Representative Katherine Tai, Mexico’s Economy Secretary Raquel Buenrostro, and Canada’s Minister of International Trade, Export Promotion, Small Business, and Economic Development Mary Ng. The trio underscored the importance…

Chijet Motor Company, Inc. announced today a significant step towards the global expansion of its subsidiary, FAW Jilin Automobile Co., Ltd., marking a new chapter in China-Peru trade relations. The company reported the successful completion of its first-ever shipment of automobiles to Peru, utilizing its newly-established export operation based at Tianjin Port, China. This milestone not only signifies the inauguration of FAW Jilin’s self-operated export operation but also the dawn of a new stage in the firm’s international marketing strategy, further solidifying its commitment to enhancing China-Peru trade. FAW Jilin, a majority-owned subsidiary of Chijet, previously relied on China FAW…

Zambia’s Economic Reforms have achieved a notable milestone with the International Monetary Fund’s (IMF) Executive Board completing the initial review of its 38-month Extended Credit Facility (ECF). This positive assessment, reflective of the country’s progress on its reform agenda, unlocks access to Special Drawing Rights (SDR) valued at 139.88 million, approximately US$ 189 million. The country has shown strong commitment to the stipulations of the IMF’s extended program, achieving all quantitative performance criteria and successfully meeting nine out of eleven structural benchmarks designated for this initial review. The remaining two benchmarks experienced slight delays. Under the bold reform agenda, Zambia…

The nation, caught in the vortex of ‘fast fashion’, reportedly disposes of a staggering 70,000 tons of clothing annually, with the majority – two-thirds – ending up in landfills. In response to this escalating crisis, the French Government has announced a pioneering initiative to financially incentivize citizens to repair their garments and footwear instead of succumbing to the disposable culture of fashion. To counteract the issue of “fast fashion” – characterized by the rapid production and subsequent disposal of inexpensive clothing – Bérangère Couillard, France’s junior ecology minister, unveiled the repair bonus scheme. Coinciding with this initiative, a raft of…

A new report from InsightAce Analytic Pvt. Ltd. reveals a promising growth trajectory for the global Isobutyric Acid market. According to the report, the market is expected to exceed USD 385.5 million by 2031, reflecting a CAGR of 9.21% during the forecast period. Isobutyric acid’s extensive uses across agricultural intermediates, dyes, pigments, paints, food tastes, fragrances, herbicides, medicinal compounds, and protective coatings fuel its market demand. Isobutyric acid, a branched fatty acid, is a propanoic acid with a methyl branch at C-2. Though it occurs in trace quantities in certain foods, fermented beverages, and as a product of gut bacterial…

Countering China’s escalating influence within the region prompts the United States to turn its strategic attention towards India. In envisioning India as the “Indo-Pacific Naval Logistics Hub,” the United States aims to amplify readiness across the Indo-Pacific. This designation denotes India’s anticipated significance in naval resupplying and upkeep activities across South Asia, thereby strengthening the strategic balance in the region. US President Joe Biden and Indian Prime Minister Narendra Modi have decided to strengthen defense and economic alliances at the White House summit in recent weeks. The new agreement that emerged from that summit underscores their deepening bilateral ties and…

China and the UK are celebrating 70 years of bilateral trade relations, commemorating the ‘Icebreaking Mission’ initiated by British entrepreneurs in the 1950s to breach trade barriers with China. The anniversary marks decades of significant effort, fostering increased economic cooperation between the two nations. Chinese President Xi Jinping sent a congratulatory letter to the celebratory event held in Beijing, urging for continued pioneering spirit of openness and cooperation between the two countries. He encouraged both sides to work diligently towards creating opportunities for mutually beneficial cooperation and making significant contributions to the strengthening of China-UK relations. The event was jointly…