Global Trade News

TikTok ventures into e-commerce logistics, mirroring Amazon's integrated model but outsourcing to specialized providers like ShipBob. With 150 million U.S. users, TikTok aims to keep transactions on its platform, leveraging influencers to drive sales. Regulatory hurdles and building consumer trust pose challenges, but TikTok's move signals a strategic push into e-commerce. Read More »

Flexport acquires Convoy's technology stack to bolster its position in global logistics. CEO Ryan Petersen emphasizes the move's significance, aiming to create a one-stop-shop for shipping worldwide. Integration of Convoy's trucking network, comprising 400,000 drivers and 80,000 carriers, promises expanded capabilities for Flexport. Read More »

The US halts Nvidia's AI chip shipments to China, aligning with President Biden's strategy to limit China's access to advanced technology. Nvidia remains optimistic about global demand but faces potential setbacks. The move escalates the US-China tech standoff, with implications for the broader semiconductor industry. Read More »

Trade between Russia and India has surged, reaching a record US$43.8 billion in the first eight months of the year and projected to hit US$65.7 billion by year-end. Russian exports to India soared to US$41.2 billion, while imports from India also saw a 50% increase. This growth is partly attributed to Russia's pivot towards Asian markets amidst Western sanctions. India's Russian oil imports spiked by 80% in September, and diamond purchases rose by 26%. The flourishing trade relationship is poised for further expansion, particularly in energy, agriculture, and IT sectors. Read More »

NEOM, a futuristic construction company in Saudi Arabia, partners with logistics leader DSV for a $10 billion venture, aiming to revolutionize ground, sea, and air logistics. This collaboration, aligned with Saudi Vision 2030, promises economic growth and innovation. Read More »

Amazon's Prime Air drone service now delivers medications from Amazon Pharmacy in under 60 minutes, starting in College Station, Texas. This innovative service, free for now, offers around 500 medications for aerial delivery, marking a significant leap in healthcare accessibility and convenience. Read More »

The IMEC, aimed at reshaping global trade and seen as the West's counter to China's Belt and Road, faces delays due to the Hamas-Israel conflict, impacting key trade links and diplomatic efforts in the region. Read More »

Droneliner proposes an autonomous cargo plane reducing air freight costs by over 70%, with designs optimized for efficiency and a payload capacity that significantly surpasses current leaders, aiming to revolutionize the logistics industry. Read More »

China and Brazil recently achieved a groundbreaking milestone in their trade relations by completing a transaction entirely in their local currencies, the renminbi (RMB) and the Brazilian real. This significant development, facilitated by the Bank of China (BOC), represents a notable shift away from traditional trade settlements conducted in US dollars. Read More »

India's ban on non-basmati white rice exports to control domestic prices impacts global markets, affecting Asia and Africa the most. With India being a major rice supplier, this move raises concerns over food security and price stability worldwide. Read More »