Author: Central Bureau

Staggering hit to the automotive industry, heightened border security and a significant surge in migration have led to severe congestion at the U.S.-Mexico border. An estimated 19,000 trucks, carrying goods valued at around $1.9 billion, are currently languishing in extended queues, some waiting up to 24 hours due to intensified safety inspections. Texas officials have implemented additional cargo truck inspections beyond federal mandates to curb illegal border crossings and drug trafficking. This congestion is exacerbated by a massive influx of people moving north from South and Central Mexico, with some attempting to traverse the border aboard railway cars carrying vehicles.…

The recent escalation in the L has triggered a cascade of logistical disruptions, leading to a ‘Logistics Crisis, Air Cargo Decline’. Notably, in air cargo services, prominent global cargo airlines temporarily halted operations to Israel following a declaration of war by the country in response to the Hamas terrorist attack. This military action in the Gaza Strip played a key role in the brief hiatus of logistics activities. FedEx Express, a major player in the air cargo industry, confirmed the resumption of its international flights to Israel on Tuesday, a day after pausing its operations. Despite the tension in the…

The inaugural SuperBridge Summit, taking place from 16-17 October 2023 at Dubai’s iconic Museum of the Future is a unique platform converging more than 500 investors, business, government, policy and cultural leaders from 20 countries to accelerate investment and co-creation opportunities in hitherto untapped and under-explored markets. Channelled through future-focused outcomes, it will intensify collaborations in the world’s largest and rapidly expanding economies, including China, India, Indonesia, Vietnam, Brazil, UAE, Saudi Arabia, South Africa, and Nigeria, which, according to estimates, will collectively contribute over 45 percent of the world’s GDP by 2050. The powerful two-day forum has confirmed a diverse…

A landmark collaboration sees KAOUN International, a subsidiary of Dubai World Trade Centre (DWTC), and the SuperBridge Council present the inaugural SuperBridge Summit Dubai at the Museum of the Future from 16-17 October 2023. This summit emerges as an exhilarating platform, uniting over 500 eminent business, policy, and cultural leaders from 20 countries, epitomizing the world’s rapidly evolving economies. Alongside the summit, Dubai hosts the 43rd edition of GITEX Global, orchestrated by DWTC, attracting tech moguls and investors from 170 nations. The summit’s agenda promises profound dialogues with insights from 75 seasoned speakers and notable sponsors. Across its two-day span,…

Global trade continues to shift, with the India-Canada dynamic spotlighting the blend of challenges and opportunities inherent to international alliances. Despite the Indian diaspora in Canada standing as the third-largest in the developed world, following the US and UK, economic exchanges between these nations have not reached their potential. Imports between both nations have teetered around the 1% mark with minor fluctuations recently. The primary query remains: Why? The Canada-India Business Council suggests that many Canadian businesses have relegated India to the periphery, overlooking the vast market potential. This scenario paints the backdrop for the Comprehensive Economic Partnership Agreement (CEPA)…

At a time when global trade faces unprecedented challenges, ‘Bangladesh’s Export Boom’ with its merchandise exports reports an unexpected uptick. But does this reported increase genuinely mirror the country’s economic trajectory or reveal a discrepancy? Bangladesh’s Garment Industry: Fueling the Rise July’s data flaunts a notable 15.26% boost in merchandise exports, reaching a pinnacle of $4.59 billion. The garments sector alone, contributing a staggering 86% to the export earnings, tallied over $3.95 billion. Knitwear exports saw a remarkable 22% jump, and woven exports climbed by 11.54%. Yet, these figures have baffled apparel exporters and industry insiders. A prominent apparel exporter,…

At a time when the trade world is grappling with unpredictable global supply chain disruptions, India and Taiwan forging a stronger partnership will shed more light on the asian region. Speaking at the interactive meeting for the in-bound Taiwan Trade Mission at WTC Mumbai, Edison Hsu, Director, Taipei World Trade Center Liaison Office in Mumbai, emphasized Taiwan’s prowess in hi-tech manufacturing and the potential of India as a reliable supply chain collaborator. In 2022, bilateral trade between India and Taiwan saw an uplifting 9.8% rise, reaching US$8.45 billion. India’s diversified export basket to Taiwan includes minerals, metals, and chemicals, while…

Turkey’s defense industry is poised for a record-breaking year, riding the wave of a $3.1 billion drone deal with Saudi Arabia. Experts predict that Turkey’s defense exports this year will reach 7.5 billion dollars. The deal, brokered by Turkey’s top drone maker Baykar, is expected to propel Turkish military exports to unprecedented heights and lay the groundwork for further cooperation with Gulf Countries. The agreement was sealed during President Recep Tayyip Erdogan’s visit to Saudi Arabia on July 18. This diplomatic event marked a significant point in the renewed ties between Ankara and Riyadh, a relationship previously marred by years…

The digital age, dominated by AI and cutting-edge innovations, presents an intriguing narrative within the ‘Future of eCommerce’ landscape. This story suggests that relying solely on technology doesn’t cut it; human services retain a pivotal role. eCommerce has painted a complex picture for logistics and fulfillment partners. This arena differs from others where a mere tech solution can promise optimal results. eCommerce demands a marriage of advanced tech tools and tangible human interventions. A trend from the past decade saw eCommerce brands and investors gravitate towards tech-only logistical entities. These businesses operate with an asset-light framework, emphasizing inventory tracking in…

President Vladimir Putin has announced plans for ‘Russia’s New Trade Agreements’ with four North African countries, including Morocco, Egypt, Tunisia, and Algeria. According to a report by the Russian news agency Tass, Putin made the announcement at a recent cabinet meeting. He has asked officials to submit a report that includes a feasibility study and potential benefits to Russia. This strategic move aims to transform the political trust between these countries and the Russian Federation into an economic alliance. This could potentially counter the opposition forming against Russia in this region due to the Ukraine war. Putin is targeting the…