Author: Editorial Desk

Russia temporarily suspends the pivotal wartime Black Sea Grain Initiative on Monday, a move that permits the flow of grain from Ukraine, critical in mitigating the global food crisis. This action is set to intensify the growing hunger and poverty issues plaguing countries in Africa, Asia, and the Middle East due to soaring food prices Kremlin spokesman Dmitry Peskov announced Russia’s decision to halt the initiative, seeking global recognition of its demands for food and fertilizer. Despite issues related to shipping and insurance restrictions, Russia has managed to export record wheat amounts since last year. The deal’s suspension has seen…

The Semiconductor Industry Association (SIA), a representative of the vast majority of major US chipmakers and several others globally, has issued a statement urging the Biden administration to reduce its trade sanctions on China. The association’s concerns stem from the potential negative impact of the advancements made following the passage of the CHIPS and Science Act last year. The SIA emphasized the necessity of uninterrupted access to the Chinese market, the world’s largest commercial market for commodity semiconductors, to preserve the gains from the Act. The group warned that repeated ambiguous restrictions could jeopardize the competitiveness of the US semiconductor…

Amid a mounting Global Trade Crisis, trade has experienced the sharpest decline in five months this June, as per the worldwide Purchasing Managers’ Index (PMI) surveys compiled by S&P Global Market Intelligence. This marks a 16th successive monthly drop in export orders for goods and services at the end of the second quarter of 2023. The PMI New Export Orders Index has taken a plunge to 48.3, from 48.8 in May, signaling a worsening global trade scenario. This is primarily due to a significant decrease in goods trade compounded by a slight decrease in the growth rate of services exports.…

The global trading facilitator, CFI Financial Group, has announced a major advancement. They’ve joined forces with Capitalise AI to launch an innovative AI Trading Solution. This new AI-assisted trading platform is expected to revolutionize the norms of automated trading throughout the MENA region. This groundbreaking tool by Capitalise AI, underpinned by CFI’s prowess, endows clients with a profusion of beneficial features. It simplifies the trading process via automation without any coding, setting the stage for a reformed trading experience for clients spread across the Middle East and North Africa by using simple English vernacular. Hisham Mansour, Co-founder and Managing Director…

As a rapidly transforming world where global food habits are constantly evolving, Thailand’s Deputy Prime Minister and Commerce Minister, Jurin Laksanawisit, emphasized the mounting importance of investigating the future of food. Laksanawisit particularly underscored the Thailand Halal Market, as well as the organic food sector. Predicting the world population to surge to 10 billion by 2050, he accentuated the prospective opportunities these areas hold for launching novel business ventures. Despite accounting for a mere five to eight percent of the Muslim population, Thailand forges a path toward becoming a recognized global leader within the halal food industry. With a substantial…

Uruguay’s pursuit of a trade agreement with China has recently faced substantial obstacles, turning the initiative into a sobering lesson about the complexities of international trade for smaller countries. While the South American nation sought to level the playing field in its beef exports to China, geopolitical realities have rendered the prospects of a deal increasingly uncertain. The El Álamo ranch, located on the eastern plains of Uruguay, is evidence of the country’s ambitions. Much of their cattle are destined for Chinese markets where they face a hefty 12% tariff, over double the rate imposed on Australian beef, China’s top…

Solidifying its stance as a global vanguard in low-carbon energy solutions, France’s ENGIE and Saudi’s PIF (Public Investment Fund) Ink Deals for green hydrogen projects and scrutinize related derivatives. This collaborative venture aligns seamlessly with Saudi Vision 2030, Saudi Arabia’s blueprint for a diversified and sustainable economy. By signing this crucial Memorandum of Understanding (MoU), Frederic Claux, Managing Director of Flexible Generation and Retail, AMEA at ENGIE, and Yazeed Alhumied, Deputy Governor and Head of MENA Investments at PIF, paves the way for a substantial contribution to global green hydrogen production. Furthermore, it spotlights the dedication of both entities to…

Considering the nation’s food safety and health concerns, Hong Kong is planning to ban Japanese seafood from its 10 prefectures. This seismic shift in policy, referred to as the ‘Ban Japanese Seafood’ initiative, is being contemplated as a response to Tokyo’s contentious plan to discharge treated radioactive wastewater from the ill-fated Fukushima nuclear plant into the Pacific Ocean. The move carries vital implications for Hong Kong’s vibrant culinary scene where Japanese cuisine has carved an indelible niche. Tse Chin-wan, Hong Kong’s Secretary for Environment and Ecology, outlined the potential embargo’s vast scope. It’s not only the fresh or frozen seafood…

A compelling evolution unfolds as, Transmar, the region’s premier container shipping line, unveiled a groundbreaking service. This initiative orchestrates impeccable connectivity between Egyptian exporters stationed at Adabiya Port, Egypt, and the strategic ports of Aden and Hodeida in Yemen. Primarily focused on transporting refrigerated and dry cargo, this novel venture pledges to amplify efficiency and reliability in the intricate logistics networks interlinking these indispensable trading hubs. The service underscores Transmar’s resolute dedication to delivering germane, bespoke logistics solutions in the Red Sea region. Capitalizing on its formidable dedicated fleet – the most substantial between the Red Sea and the Arabian…

Audaciously bolstering the agricultural sector, Indian Agri value chain catalyst, Samunnati, has efficaciously orchestrated the export of 275 tonnes of Thomson seedless grapes from Nashik to the Netherlands during the 2023 grape season. This strategic move embodies a decisive step towards bridging global market opportunities for Indian agriculturists, thereby promoting their economic upliftment. Samunnati supervised the intricate operation end-to-end, from farm gate procurement to the export stage, encompassing meticulous primary processing, cold storage, packaging, and the labyrinthine certification processes. The grapes, cultivated within a 100-square-kilometer area surrounding Nashik pack houses, were harvested by Global GAP-certified agriculturists, ensuring the produce was…