Author: Editorial Desk

Amid the bustling avenues and towering skyscrapers of Tokyo, an economic confluence took place that is poised to reshape international trade dynamics. On this particular day, the Saudi Export Development Authority, branded as ‘Made in Saudi Arabia,’ initiated an influential trade mission that is seen as a beacon for global economic collaborations. This pivotal move by the authority is a vivid testament to their broader strategy of diversifying the economic palette of Saudi Arabia, primarily by focusing on non-oil exports. The meticulous planning and execution of this event underscore the tireless commitment of the organization. Their main objectives are multifold:…

Showcasing the evolving synergy between India and the United States, both powerhouses have jointly informed the World Trade Organization (WTO) of their decision to settle two significant trade disputes. This mutual gesture transcends routine diplomatic moves, reinforcing their commitment to global trade harmony. The epicenter of this collaborative act lies in two specific trade issues. The first relates to the US imposing duties on selected Indian exports, notably steel and aluminum products. The second centers around India’s strategic move to impose supplementary duties on a range of American commodities as a countermeasure. These disputes, delineated as ‘United States — Certain…

Three South Asian juggernauts—India, Nepal, and Bangladesh—are on the cusp of sealing a landmark power trade accord. This pact would enable Nepal to export up to 500 MW of its hydropower riches to Bangladesh, capitalizing on India’s sophisticated transmission architecture. Discussions are also underway about dedicated transmission lines linking Nepal directly to Bangladesh, with a passage through Indian territory. Two potential pathways are being considered for this ambitious undertaking. Bilateral power trading might be a familiar narrative for the region, but a tripartite arrangement of this magnitude promises to recalibrate the energy dynamics. It’s not just about trading electricity; it’s…

Weather disruptions are reshaping corn export trends, positioning Brazil as a potential beneficiary amidst declining yields from the U.S. and Argentina. Intermodal’s recent analysis casts a spotlight on an anticipated 1% drop in U.S. corn production for the 2023/24 season, pinning the figure at 367 million tons. Persistent adverse climates in the U.S. Corn and Soybean belts, particularly the northern regions with maturing crops, signal looming challenges. U.S. corn exports for June witnessed a stark decline, plummeting 34.7% below the 5-year average, marking a near-decade low. A significant catalyst for this downturn is China’s dwindling purchases, a meager 0.5 million…

Pakistan’s economy, once acclaimed for its rapidly developing textile industry, is encountering significant obstacles as the sector battles a global and domestic slowdown. As the economic conditions continue to deteriorate, the once vibrant textile sector, accounting for 60 percent of the country’s exports, has taken a substantial hit. Emerging victorious from the Covid-19 pandemic, the textile industry had once enjoyed a resurgence, benefiting from expedited lifting of restrictions compared to regional competitors, India and Bangladesh. That period of prosperity appears a distant memory now, as the sector sees a sharp 15 percent dip in exports, falling to $16.5 billion for…

Nestled within the industrial expanses of Skellefteå, a northern town in Sweden, the audacious Northvolt Ett – Europe’s premier battery ‘gigafactory’ – emerges as a beacon of global green promise for electric mobility. Not merely a titan in size, the project wields the ambition to turn out enough batteries annually to fuel a million electric cars. By 2026, it aims to create jobs for 4,000 people, churning out 60 gigawatt-hours of lithium battery cells every year. The gigafactory’s significant trait stretches beyond its vastness, with Northvolt asserting its soon-to-be-fully-operational batteries as the most eco-friendly globally. This assertion dispels criticisms that…

Aligning itself with Western sanctions, Georgia has implemented a ban on the transit and re-export of vehicles imported from the United States and the European Union, headed for Russia and Belarus. Amid Russia’s expansive incursion into Ukraine, Georgia’s thriving re-export industry faces mounting scrutiny. Though the intent behind this maneuver is to fortify the enforcement of sanctions, it remains uncertain whether it can effectively obstruct these vehicles from reaching Russia through indirect channels. As of August 1, cars imported from the U.S. and bound for the two sanctioned nations fall under this regulation, with a similar prohibition on European vehicles…

As global digitalization surges, ‘Online Bank Fraud’ escalates in its shadow, posing a worldwide concern. A recent report by Bankrate underlines an amplified dependency on online banking, with their survey indicating that 44% of bank customers are now administering their finances via mobile apps – a number that is ceaselessly climbing. This boom in online banking, unfortunately, also corresponds with a parallel increase in banking fraud, specifically online bank fraud. Unauthorized access to ordinary consumers’ account information and subsequent fraudulent activities are rather easy to execute. This same situation is now expanding into the trade world. There have been common…

Iran and Pakistan, both having more than 900 kilometers of common border, are advancing toward a lasting strategic collaboration. This border, once merely a dividing line, from transit corridors to bilateral trade, is now a focal point for enhancing economic prosperity. The recent collaborations symbolize the intertwining of economic, security, and transit relations and transcend the traditional notion of neighbors. Milestone Projects and Investments Mid-May witnessed a significant milestone with Iranian President Ebrahim Raisi and Pakistani Prime Minister Shehbaz Sharif inaugurating the Mand-Pishin border market and the 100-MW Polan-Gabd electricity transmission line. These projects, attended by influential officials, stand as…

A significant leap in the economic bond between Kazakhstan and Afghanistan is on the horizon, with anticipated trade expansion to a substantial $3 billion, according to a statement by Kazakhstan’s Ministry of Trade and Integration. The bold projection was unveiled at the recent Kazakh-Afghan Business Forum, suggesting a strategic intent to fortify the commerce bridge between these nations. Deputy Prime Minister of Kazakhstan, Serik Zhumangarin, articulated his confidence in this expansion during his forum address. “The mutual trade turnover between our countries has reached almost $1 billion, and in the future, it is planned to increase the volume of trade…