South Korean truck drivers stage eighth day of protests against rising fuel prices. Drivers are protesting against the minimum wage guarantee and rising costs. The strike is the latest stumbling block for global supply chains. South Korean truck drivers staged their eighth day of protests on Tuesday against rising fuel prices, which have further snarled … Read more
The US Commerce Department stated Saturday that the US and South Korea have agreed to collaborate more closely on critical trade and supply-chain concerns. Establishing a US-Korea Supply Chain and Commercial Dialogue, the statement said, would “foster increased collaboration and strengthen the international competitiveness of US and Korean industry.” The announcement, which offered little detail … Read more
The EU on Tuesday accepted rules allowing medicines made in Britain to go to Northern Ireland, making an exception to a post-Brexit treaty that requires goods sent to the UK province to be EU-compliant. The move is an effort to dampen Brussels-London tensions over Northern Ireland, which will under the EU customs system under the … Read more
KARACHI: The auto sector production is booming, but the industry is also suffering a squeeze on margins through higher costs, and buyers have to pay much more for vehicles compared with most of the world. Despite multiplying prices, there has been no letup in car sales. However, FY23 is going to be a challenging year … Read more
KARACHI: The global economic outlook turned gloomy soon after Russian forces marched into Ukraine. The financial sanctions have rocked Russia’s economy and threaten to fuel further worldwide inflation. The prices of natural gas, oil, and other staples have jumped in the international markets. At the same time, it has rattled global supply chains that are … Read more
PARIS: Global companies and financial institutions with the highest potential for curbing deforestation are largely failing to do so, undermining pledges to protect forests made at the COP26 climate summit in November, a report said on Thursday. The Forest 500 analysis by non-profit research group Global Canopy graded 350 companies most responsible for producing, using or … Read more
With inflation expected to remain high for some time, the US central bank is likely to raise interest rates soon after it ends its bond-buying programme in March, a Federal Reserve board member said on Friday. The Fed earlier this week announced it will accelerate the end to its stimulus programme after inflation last month … Read more
WASHINGTON: With inflation expected to remain high for some time, the US central bank is likely to raise interest rates soon after it ends its bond-buying programme in March, a Federal Reserve board member said on Friday. The Fed earlier this week announced it will accelerate the end to its stimulus programme after inflation last month … Read more
MADRID: The coronavirus pandemic will cost the global tourism sector $2 trillion in lost revenues in 2021, the UN’s tourism body said on Monday, calling the sector’s recovery ‘fragile’ and ‘slow’. The forecast from the Madrid-based World Tourism Organization comes as Europe is grappling with a surge in infections and as a new heavily mutated … Read more
WASHINGTON: A key US inflation measure closely watched by the Federal Reserve in October posted its biggest year-over-year increase since the early 1990s amid supply chain bottlenecks, the US Commerce Department reported on Wednesday. The personal consumption expenditure (PCE) price index, the Fed’s preferred inflation measure, jumped five per cent in October from a year … Read more
