The Chinese government has expressed strong criticism of the European Union’s recent adjustments to tariffs on electric vehicle (EV) imports, which have notably affected major automakers including Tesla. This move has intensified trade tensions between China and the EU over the issue of electric vehicle subsidies. On Wednesday, a spokesperson for the Ministry of Commerce…
India’s Commerce Minister Piyush Goyal has voiced concerns about the impact of major e-commerce companies like Amazon and Flipkart on the country’s traditional retail sector. Goyal accused these companies of engaging in predatory pricing practices, which he claims undermine the survival of millions of brick-and-mortar stores across India. The rapid expansion of Amazon and Walmart’s…
Paul Barrett, the Dublin-born CEO of Australian green energy firm Hysata, is leading the charge to make green hydrogen more affordable by tackling one of the industry’s biggest challenges—bubble formation during electrolysis. “If you remember being a kid and blowing up a balloon or into a milkshake, your cheeks got sore because there is an…
The World Health Organization (WHO) has issued a renewed global health emergency declaration for mpox, marking the second time in two years that the viral infection has warranted such a designation. This declaration underscores the urgent need for improved medical responses and equitable access to vaccines, particularly in the hardest-hit regions. Background on Mpox Mpox…
In July, Russia experienced a notable increase in seaborne exports of fuel oil and vacuum gasoil (VGO), with China and Saudi Arabia emerging as the primary destinations. This surge in exports highlights a significant shift in market dynamics following the European Union’s embargo on Russian oil products. Export Growth and Destinations Russian exports of fuel…
The World Health Organization (WHO) is set to convene an emergency meeting on Friday to address global equity in access to tests, treatments, and vaccines for mpox, a viral infection currently affecting parts of Africa and beyond. The meeting aims to ensure that lessons learned from past inequities during the COVID-19 pandemic are applied to…
Concerns over Brazil’s fiscal stability and elevated interest rates have dampened expectations for a revival of the country’s initial public offering (IPO) market, which has been dormant for nearly three years. Hopes that up to 20 companies could go public this year have faded, as businesses across various sectors now anticipate that the window for…
As inflation concerns persist, Americans are increasingly turning to Walmart for their shopping needs, boosting the retailer’s performance. On Thursday, Walmart raised its annual sales and profit forecasts for the second time this year, attributing the growth to the influx of customers seeking affordable essentials. This strong performance led to an 8% surge in Walmart’s…
Boeing’s ability to meet its ambitious production targets for the 737 MAX jet is facing significant hurdles, according to analysts from Moody’s and S&P. The aerospace giant aims to ramp up production to 38 MAX jets per month by the end of 2024, a substantial increase from 25 jets per month in July. However, analysts…
Defence contractor Elbit Systems reported increased second-quarter profits on Wednesday, bolstered by heightened global demand for its military technologies. The company earned $2.08 per diluted share, excluding one-time items, up from $1.65 a year earlier. Revenue rose to $1.63 billion from $1.45 billion, with a notable shift in regional sales distribution. While sales to Israel…
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