Top Handicraft Exporters

Global economy: Charting the Global Economy: Fed headlines concert of rate hikes

The Federal Reserve, Bank of England and Sweden’s Riksbank were just a handful of central banks raising interest rates this week, underscoring the drastic tightening cycle underway as inflation grips the global economy. Switzerland, South Africa also boosted their benchmark rates. Indonesia, Philippines and Vietnam raised borrowing costs as well following the Fed’s decision. On …

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pmi: Euro zone likely entering recession as price rises hit demand -PMI

LONDON: A downturn in business activity across the euro zone deepened in September, according to a survey which showed the economy was likely entering a recession as consumers rein in spending amid a cost of living crisis. Manufacturers were particularly hard hit by high energy costs after Russia’s invasion of Ukraine sent gas prices rocketing, …

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supply chains: A.P. Moller – Maersk inaugurates two warehouses in India

NEW DELHI: Strengthening its position as a global integrated logistics company, A.P. Moller – Maersk on Friday inaugurated two new warehouses in India, that are strategically located near the National Capital Region (NCR) in the northern part of the country. Soren Skou, CEO, A.P. Moller – Maersk, Navneet Kapoor, Executive Vice President, A.P. Moller – …

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fedex flights: FedEx outlines cost-cutting plan; to cancel flights, close offices

FedEx Corp on Thursday outlined cost cuts of up to $2.7 billion from parking planes, suspending some Sunday deliveries and shuttering corporate offices after falling demand hammered first-quarter profits. The company reported that earnings per share fell 21.3% for the quarter ended Aug. 31, in line with the warning it delivered last week. It blamed …

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defense trade: 5 countries account for 80% of defence trade, need to correct the imbalance to increase India’s influence: Defence Secretary

India needs to believe in its homegrown technologies and there is an urgent need to focus on independent and indigenous capabilities, said Ajay Kumar, Secretary, Ministry of Defence, Government of India. Speaking at the Public Affairs Forum of India’s (PAFI) 9th Annual Forum 2022, Kumar said “we did not trust our ability to do well.” …

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airline industry: Bleaker economy could sour airline industry’s bet on cargo planes

SINGAPORE: The airline industry’s record-breaking scramble to convert older passenger jets to freighters during the travel-starved years of the coronavirus pandemic threatens to bring a glut of cargo space as a dimming global economic picture hits demand. Analysts say aircraft lessors, who helped drive a tripling in annual conversions since 2019, now face not only …

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ships: Energy crunch crimping Europe hurts demand for commodity ships

The cost of shipping commodities like grains, metals and coal has fallen as soaring energy prices in Europe throttle global economic growth. Manufacturers of products such as fertilizer, aluminum and vegetable oils are curtailing production in Europe as the energy crunch makes operating plants too expensive. That’s reduced the need for ships to transport so-called …

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India exports: India defends its decision to ban rice, wheat exports at WTO

India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country’s stand, an official said. At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse …

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