Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC. Estimates for the kingdom’s untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Mineral Resources … Read more
U.S. President Joe Biden greets South Africa’s President Cyril Ramaphosa in the Oval Office at the White House in Washington, September 16, 2022. Evelyn Hockstein | Reuters South Africa’s genocide accusation against Israel has placed further strain on an already frayed relationship with the U.S. and could have serious diplomatic ramifications. The International Court of … Read more
Boeing’s new 737 MAX-9 is pictured under construction at their production facility in Renton, Washington, Feb. 13, 2017. Jason Redmond | Reuters Boeing‘s plan to get back on solid footing after a series of quality flaws in its best-selling jet suffered a near-disastrous blow Friday when a plane panel blew out during an Alaska Airlines … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based … Read more
A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images) Anadolu | Getty Images The threat to global trade in the Red Sea remains high, even with efforts to protect commercial vessels from attacks by Iranian-backed Houthi … Read more
NEW DELHI: Dalal Street is expected to see range-bound trading this week in the absence of any major trigger either on the domestic or global front, say analysts. “Though the market has been moving up it seems to be running out of steam as the indices are still moving within a strong range,” according to … Read more
The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. Peter Cziborra | Reuters Boeing is urging airlines to inspect 737 Max planes to look for a “possible loose bolt” in the rudder control system, the latest quality issue to affect the manufacturer’s best-selling jetliner. The manufacturer … Read more
Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea in this photo released on Nov. 20, 2023. Houthi Military Media | Via Reuters Yemen’s Houthi rebels launched fresh attacks on cargo ships in the Red Sea, while the U.S. carried out strikes against targets in Iraq, amid fears that the … Read more
India and New Zealand have discussed measures to reduce trade barriers and promote a more investor-friendly environment to boost economic ties, an official statement said on Wednesday. The issues were discussed during the meeting of Commerce and Industry Minister Piyush Goyal and his counterpart from New Zealand Todd McClay on December 19. Both the ministers … Read more
With the Red Sea diversions by shipping companies including Maersk continuing amid the risk of attacks by the Houthis, global logistics managers are faced with a two-front storm of rising ocean and air freight prices and stranded cargo. Both are threats to the global supply chain after three tumultuous years of inflationary pressures and delays … Read more
