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 »

Global air cargo demand saw its first rise in 19 months, with August 2023 data showing a 1.5% year-on-year increase. Regional performance varied, with Asia-Pacific leading at 4.9% growth, while Africa experienced a 4.7% decline. Read More »

Asia-Europe container shipping faces immense pressure, with spot rates plummeting below $1k USD per FEU, the lowest since FBX index reporting. The Ukraine-Russia conflict exacerbates Europe's challenges, impacting demand and capacity growth, intensifying the shipping crisis. Read More »

Waabi and Uber Freight team up to revolutionize the logistics industry with AI-powered autonomous trucks. Their partnership integrates Waabi's advanced technology with Uber Freight's platform, offering a comprehensive "driver-as-a-service" solution. Operating between Dallas and Houston, these autonomous trucks promise improved efficiency, safety, and sustainability for supply chains. Read More »