Author: Esahaque Eswaramangalam

A burgeoning labor dispute, including the Canadian dock strike, at the world’s key ports is sending ripples of uncertainty across global trade operations. Now, further exacerbating the situation, Canada’s West Coast ports have joined in the strike, leading to major disruptions in the supply chain. The strike, which lasted 14 days, delayed product deliveries to chemical companies, manufacturers and retailers across the US for nearly two months. This poses a crucial challenge during the peak season, typically marked by the influx of holiday items for retailers. President of the International Longshoremen and Warehouse Union of Canada (ILWU Canada), Rob Ashton,…

Surprising shifts have come to light regarding South Korean trade dynamics, based on recent data from the Bank of Korea (BOK). Notably, within the realm of South Korean trade, China could face displacement as the nation’s principal trading partner, a position it has held for two decades, potentially conceding it to the United States. The data points to a dramatic adjustment in South Korea’s trade landscape. South Korea’s current account surplus relative to the US soared by 48.9 percent, reaching a historic high of US$67.79 billion. Contrarily, its trading relationship with China hit a two-decade low, recording a deficit of…

The International Monetary Fund (IMF) has voiced serious concerns about ‘India’s Rice Export Ban,’ the country’s recent decision to halt rice exports. Pierre-Olivier Gourinchas, the organization’s Chief Economist, anticipates that this move could catalyze a considerable surge in global food price inflation. During a press conference, Gourinchas drew a parallel between the potential repercussions of ‘India’s Rice Export Ban’ and the fallout from the suspension of the Ukraine Black Sea grain export deal. Gourinchas urged, “We would encourage the removal of these types of export restrictions because they can be globally damaging.” His statement underscores the IMF’s concerns over the…

The global rice trade has found itself in a deadlock this week, with Global Rice Prices expected to soar, following India’s Rice Export Ban. India, recognized as the world’s principal rice exporter, has instituted a ban on a substantial segment of its fundamental rice exports. This drastic measure, aimed at curbing escalating domestic prices, has left the Asian rice trade in a momentary standstill as traders and consumers anticipate a marked rise in prices. As a key player commanding 40% of global rice exports, India’s influential role in the international rice market significantly shapes the global rice prices. Domestic rice…

As the global community grapples with the climate crisis, solar energy has emerged as a renewable, cost-effective solution. One of the biggest components of this green energy revolution, solar cells, is about to experience a revolutionary improvement with the development of lateral solar cells. Traditional solar cells use semiconductors, usually created from organic materials like carbon, to convert sunlight into electricity. Despite their abundance and easy processing on an industrial scale, the efficiency of organic solar cells has remained relatively low. Current designs are only capable of converting specific wavelengths of light into energy, necessitating multiple films to utilize the…

The Network of Central Banks and Supervisors for Greening the Financial System (NGFS), under its new ‘Climate Risk Initiative’, is gearing up to develop short-term climate scenarios. These scenarios aim to help buffer the financial sector against sudden shocks due to climate change and inefficient transition efforts. In a Call for Expression of Interest, dated May 24, 2023, the NGFS announced its intention to assemble a team of modelling experts. This task force will be tasked with the development of scenarios capturing near-term consequences of disorderly climate transition and natural disasters, supplementing the NGFS’s established framework of long-term climate scenarios.…

Researchers from the Chalmers University of Technology in Sweden have made a groundbreaking discovery, pioneering a method that dramatically reduces mercury levels in sulphuric acid, leading to a potential 90% reduction in industrial mercury emissions. The development could have a significant global impact in combating mercury pollution, improving the quality of this globally important chemical, and reducing related health risks. The world’s most used chemical, sulphuric acid, plays a key role across industries, from paper, pharmaceuticals, and cosmetics, to batteries, detergents, and fertilizers. However, it often contains mercury, one of the most toxic substances known, posing a global environmental challenge.…

France’s tranquil image as an idyllic travel destination is being severely tested as the country grapples with a wave of unrest triggered by the fatal police shooting of Nehal M, a 17-year-old teenager. This eruption of violence is casting long shadows over the nation’s travel, tourism, and business sectors, causing significant disruption and financial distress. In the hospitality sector, hotels and restaurants are facing the brunt of the crisis. According to Chef Thierry Marx, the President of the main association for hotel and catering industry employers, member establishments have been rocked by a surge of reservation cancellations and sustained substantial…

Despite mounting cybersecurity concerns and data breaches, the global smartwatch market is witnessing a robust growth, projected to surge by USD 31,385.89 million from 2022 to 2027, according to Technavio Study. With a Compound Annual Growth Rate (CAGR) of 14.83%, the industry’s growth trajectory appears steady and progressive for the foreseeable future. A considerable portion of this growth is attributed to North America, which held the lion’s share in the market in 2022. Advanced technology adoption by regional smartwatch manufacturers, along with the presence of key players like Apple, Fitbit, and Garmin, gives North America a competitive edge. The region…

As the European Union (EU) is introducing an array of climate-focused laws, known collectively as the ‘EU’s Climate Measures’, it’s significantly reshaping the international trading landscape. The epicenter of this legislative drive is an ambitious objective: to achieve climate neutrality in the EU by 2050. However, these climate measures trigger important queries about trade equity and the shared global responsibility of climate change mitigation. The New Wave of Climate Regulations At the forefront of these measures is the Carbon Border Adjustment Mechanism (CBAM). A recent study estimates that this measure could generate between €5 billion to €14 billion in revenues…