Europe’s Pharma Trade with the US Remains Critical Despite Tariff Turmoil
U.S. pharmaceutical tariffs on EU imports have risen to 15% after a brief 10% measure, reviving trade tensions despite a prior MFN deal. Europe is pursuing alternative markets, notably a new EU‑India free‑trade agreement that could eliminate up to 11% of pharma duties, while deepening ties with China. Nonetheless, experts warn Asian markets will need 5‑10 years to rival the U.S.’s 40% share of global drug development, leaving the U.S. as the most profitable destination for European pharma. Companies and regulators are therefore weighing diversification against the enduring pull of the U.S. market.
A Middle Powers Club Would Make the World More Dangerous
Canadian Prime Minister Mark Carney’s Davos speech called on Canada, India, Australia and Japan to form a middle‑powers club as the liberal order strains under U.S. pressure. The proposal marks a shift toward collective diversification away from the United States...
Lawmakers Push for Elimination of Indian Duties on US Cotton Amid Stalled Trade Deal
A bipartisan group of House members led by Rep. Jodey Arrington sent a letter to USTR Jamieson Greer urging the removal of India’s 11% tariff on U.S. cotton as a priority in the pending U.S.–India trade talks. They cite the...
Peru and the Limits of Alarmism About Chinese Investment
The Port of Chancay, inaugurated in 2024, is a joint COSCO‑Volcan venture financed by a $975 million Chinese loan. In its first ten months of operation, the port moved $1.88 billion in trade and generated $234 million in customs revenue, moving toward a...
Black Gold Rush: USO Call Options Surge on Iran Crisis
Bullish traders bought 2,000 USO March 20 84‑call contracts on Feb 26, just before the Strait of Hormuz was effectively shut after U.S. and Israeli strikes on Iran. The closure halted roughly 20 % of global seaborne oil, sending Brent up 13 %...
Shorter Commodity Cycles Reshaping Trading, Value: McKinsey
McKinsey’s latest commodity trading report warns that volatility cycles are shortening, diminishing the relevance of traditional super‑cycle models. Trading revenues slipped to $69 billion in 2025, yet remain about twice pre‑pandemic levels, establishing a higher baseline. The firm highlights AI and...
Strait of Hormuz Tensions Lift Freight Rates for Aluminium, Bauxite, Zinc, Lead and Lithium; Limited Fallout in China
Escalating tensions in the Strait of Hormuz have sharply lifted crude oil prices and triggered a surge in freight rates for key non‑ferrous commodities. Major carriers such as MSC, Maersk and Hapag‑Lloyd have suspended Middle East bookings and imposed War...
Sanctions Evasion, Statecraft, and the New Crypto Geography in the Asia-Pacific
The Asia‑Pacific is emerging as a pivotal arena where cryptocurrency intersects with sanctions enforcement and state strategy. Blockchain’s peer‑to‑peer settlement bypasses traditional banking chokepoints, allowing actors—from North Korean hackers to Russian entities—to launder stolen assets through mixers, cross‑chain bridges and...
Expanding Transmission Infrastructure to Achieve Low-Cost, Reliable, and Abundant Energy
U.S. electricity demand is surging, driven by data centers and electrification, but transmission construction has stalled, dropping from 1,700 miles per year (2010‑14) to just 350 miles (2020‑23). The report identifies four key barriers—cumbersome permitting, aging infrastructure costs, siloed utility...
Turkey’s Gas Diversification Strategy and Rising Share of LNG
Since Turkey’s 2016 energy policy, the country has transformed from a pipeline‑dependent gas importer to a diversified market anchored by rapid LNG expansion. Regasification capacity rose fivefold to 150 million cubic metres per day, driven by a fleet of FSRUs that...
Ports at the Forefront of Economic War in the Gulf
The ongoing blockade of the Strait of Hormuz is choking maritime freight into the Arabian Gulf, threatening the region’s $570 billion oil and gas export flow. With the Gulf’s ports serving as the sole gateway, disruptions also jeopardize imports that account...
Strive Strategist Says AI Deflation Could Push Bitcoin to $11M by 2036
Strive strategist Joe Burnett predicts that AI‑driven productivity gains will generate a deflationary environment, prompting central banks to expand money supply and driving Bitcoin to $11 million per coin by the first quarter of 2036. The base case assumes Bitcoin will...
Independent Report: March 2026 Economic and Fiscal Outlook
The Office for Budget Responsibility (OBR) released its March 2026 Economic and Fiscal Outlook, updating its projections for the UK economy and public finances. It now forecasts real GDP growth of just 0.3% in 2026, accelerating to 1.2% in 2027, while...
India’s Growth Is Structural, Not Cyclical
India’s growth is shifting from cyclical consumption to a structural, investment‑led model, driven by a surge in public capital expenditure that rose from roughly ₹4.4 lakh crore in FY 19 to over ₹11 lakh crore in FY 25. The government has paired this spending with tax stability, massive...
The Rare Earths Race Risks Environmental Disaster
Rare earth elements are critical for clean‑energy technologies, but the geopolitical push to cut China’s dominance is driving extraction in fragile ecosystems such as the deep‑sea Pacific mud, Brazil’s Amazon, Greenland, Mongolia and Madagascar. Mining and processing produce massive toxic...
Kazakh Manufacturing Hit by Marked Fall and Elevated Inflationary Pressures in February, PMI Shows
Kazakhstan's manufacturing PMI fell to 48.1 in February, down from 49.8 in January, indicating sector contraction. The decline reflects weaker domestic demand, higher tax pressure from a January VAT increase, and firms cutting staff, purchases, and inventories. Despite the downturn,...
Middle East Conflict Stokes Inflation, Risks Higher Rates
The U.S.-Israel-Iran conflict has triggered the largest oil price jump in four years as the Strait of Hormuz effectively shut, sending crude markets into turmoil. Inflation concerns now dominate Treasury trading, pushing the 10‑year yield above 4% and raising mortgage‑rate...
Cheaper Retail Prices Unlikely Despite Tariff Ruling
The U.S. Supreme Court ruled on Feb. 20 that the Trump administration’s use of the International Emergency Economic Powers Act to impose broad tariffs was unconstitutional. Within hours, the administration invoked a different legal tool to impose a 15% tariff, later...
Analysts Warn of Largest Oil Supply Disruption in History
Analysts at S&P Global warn that the U.S.-Israel conflict with Iran could cause the largest oil‑supply disruption ever if tanker traffic through the Strait of Hormuz collapses. Recent data show only five tankers transited on March 1 versus the usual 60,...
China Defends Iran
China’s foreign ministry called on the United States and Israel to immediately halt military actions against Iran and to ensure safe navigation through the Strait of Hormuz. Spokesperson Mao Ning emphasized that energy security underpins the global economy and condemned...
Eurozone Inflation at Risk of Trending Higher over War in Middle East
Eurozone February inflation rose modestly, with headline rates climbing from 1.7 % to 1.9 % and core inflation edging up to 2.4 %. The increase occurred despite a smaller energy contribution, signalling persistent price pressures in services and goods. The ongoing Middle East...
China Rebounds to Become Asia’s Busiest Buyout Market – Deloitte
China has reclaimed its position as Asia’s busiest buyout market, according to Deloitte’s latest private‑equity report. A surge in domestic and regional fund activity offset a decline in Western capital, driving a 28% increase in deal volume year‑over‑year. The market...
P Nandalal Weerasinghe: Central Bank of Sri Lanka's Policy Agenda for 2026 and Beyond
Governor P. Nandalal Weerasinghe outlined the Central Bank of Sri Lanka’s policy roadmap for 2026, building on the macro‑economic stability achieved in 2025. He highlighted that despite global trade uncertainties, market volatility and geopolitical tensions, inflation fell below 5 % and...
The Potential of Nuclear-Powered Ships Moves to the Forefront at Posidonia 2026
At Posidonia 2026, CORE POWER will host a high‑level executive briefing on civil maritime nuclear propulsion, signaling a shift from theoretical debate to concrete industry engagement. Leaders from shipping, finance, ports and energy will discuss fourth‑generation molten‑salt reactors that could...
Pål Longva: Report From Norges Bank Watch
In 2025 Norges Bank cut its policy rate twice, first to 4.25% in June and then to 4% in September, surprising markets despite the bank’s stated commitment to transparent communication. Governor Pål Longva highlighted ongoing efforts to convey forecast uncertainty,...
Italy February Preliminary CPI +1.6% vs +1.1% Y/Y Expected
Italy's February preliminary HICP rose 1.6% year‑on‑year, beating the 1.1% consensus. Core inflation accelerated to 2.4% from 1.7% in January, with services inflation jumping to 3.6%. The hotter reading aligns with broader Eurozone CPI data, intensifying price‑pressure concerns. Analysts suggest...
India Starts Countervailing Duty Probe Against Chinese PVC Resins
India’s Directorate General of Trade Remedies has opened a counter‑vailing duty investigation into imports of Chinese PVC resins after domestic producers filed complaints. The petitioners, including Chemplast Cuddalore Vinyls, DCM Shriram and DCW Ltd, claim Chinese manufacturers receive government subsidies that enable...
February Brings Another Sharp Inflation Rise in Turkey
Turkey's annual inflation rose to 31.5% in February, driven primarily by a 2.96% month‑on‑month CPI increase. Food prices surged, with annual food inflation at 36.5%, while core inflation eased to 29.5%, its lowest since late 2021. Producer‑price inflation remained around...
Vietnamese Exporters Face Rising Costs, Delays as Middle East Tensions Disrupt Red Sea
Vietnamese exporters are confronting higher logistics, insurance and raw‑material costs as Middle‑East tensions disrupt Red Sea shipping lanes. Companies such as Dony Garment and Cat Van Loi report potential 15‑20‑day delays that could jeopardise peak‑season deliveries and project timelines. Panic‑buying...
Piero Cipollone: The Digital Euro - Enhancing Payments in the Euro Area
In a February 2026 speech to Italy’s Parliamentary Committee, ECB Executive Board member Piero Cipollone outlined the digital euro initiative, stressing its role in modernising payments and reinforcing trust through democratic legitimacy. He framed the project as a strategic response...
ECB's Villeroy: It Would Be a Mistake to Predict Rate Move in a Hurry
ECB Governing Council member Francois Villeroy warned that forecasting a rate move too quickly would be a mistake, emphasizing that policy decisions will not hinge solely on volatile energy prices. He noted that France’s exposure to Middle‑East tensions remains limited,...
Some EU Governments Are Trying to Escape Gmail, Zoom, AirBnB, Microsoft, Visa and Amazon – It’s Not Easy
After the International Criminal Court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu, the Trump administration barred eleven ICC judges and prosecutors from using U.S.-based payment cards, email services and e‑commerce platforms. The sanctions effectively cut off access...
Implications of Prolonged Unrest in Iran for Pakistan
The United States and Israel launched coordinated attacks on Iran after the February 27 assassination of Supreme Leader Ali Hosseini Khamenei, prompting Tehran to close the Strait of Hormuz and target regional airports. Iran’s resilient regime is now focused on defending its...
Trump Says 'Sad to See' US-UK Relationship Is Not What It Was
U.S. President Donald Trump told The Sun that the U.S.-U.K. partnership has deteriorated after Prime Minister Keir Starmer delayed permitting American forces to use British bases for defensive strikes against Iran. Trump contrasted Britain’s stance with France’s support, calling the...
Global Travel Leaders Formalise Cross-Sector Coordination Through the Global Resilience Network
Senior leaders from travel, finance, technology and government have launched the Global Resilience Network (GRN), a cross‑sector coordination platform active across Europe, Asia, the Middle East and the Americas. GRN moves beyond traditional forums by providing an invitation‑only infrastructure that...
Japan's Jobless Rate Rises to 2.7% as Workers Seek Better Positions
Japan’s unemployment rate ticked up to 2.7% in January, ending a five‑month decline. The labor ministry reported a 0.4% dip in total employment and a 3.2% rise in the unemployed, driven largely by a 7.9% jump in voluntary quits. Job...
France Says It Will Work with China on De-Esclatating Iran War
French Foreign Minister Jean‑Noël Barrot and Chinese counterpart Wang Yi held a call to coordinate de‑escalation of the escalating Iran conflict. Both ministers pledged to pursue a political solution that safeguards collective security while acknowledging Iranian aspirations. Barrot accused Tehran...
BOJ Might Have to Put Off March Rate Hike Amid US-Iran Conflict - Report
The Bank of Japan is likely to postpone its March interest‑rate hike as market volatility from the US‑Iran conflict intensifies. Yen depreciation remains the only clear trigger for a hike, but geopolitical risk and rising oil prices are prompting caution....
Union Maritime Bulks up with First Newcastlemax Newbuilds
Union Maritime, a UK‑based tanker operator, is linked to its first Newcastlemax bulk carrier order, potentially securing up to four 215,000‑dwt vessels from China’s Wuhu Shipyard. The deal includes two firm ships and two options at roughly $76 million each, with...
Israel-Iran War to Discourage Investment Into India, Offset Trade Deal Positives: BMI
BMI warns that the Israel‑Iran conflict will increase policy uncertainty and deter foreign investment in India. The firm keeps its FY2026/27 GDP growth forecast at 7 % but flags geopolitical risks that could offset gains from new US and EU trade...
Performance Shipping Orders Suezmax Pair in China
Performance Shipping, the Nasdaq‑listed Greek tanker owner, has signed contracts for two 158,000 dwt suezmax vessels with Shanghai Waigaoqiao Shipbuilding. Each newbuild costs $81.5 million and is scheduled for delivery in October 2028 and May 2029. The ships will be Tier III, scrubber‑fitted and meet...
Taiwan Doesn’t Have to Choose
Taiwan, home to 23 million people, sits at the nexus of global trade routes and the semiconductor supply chain, making its stability a linchpin for worldwide commerce. The Kuomintang (KMT) argues that the island should not be forced to align exclusively...
VLCC Rates Hit New Sky-High Record: $424,000 Per Day
VLCC charter rates surged to a record $424,000 per day after the U.S.-Israeli strike on Iran, as the Strait of Hormuz was officially closed to traffic. Spot rates for Middle‑East‑to‑China voyages jumped well above $400,000, dwarfing the recent $100,000‑plus benchmarks....
US, China Discuss Investment Revival Ahead of Trump’s Trip: Sources
U.S. and Chinese officials have begun talks to revive reciprocal investment ahead of President Donald Trump's scheduled visit to Beijing. Both sides are exploring structured joint ventures and licensing arrangements, with Beijing demanding stronger protection for its firms and Washington...
Gilt Yields Rise as Hopes for Bank of England Rate Cut Fade
UK inflation fell to a ten‑month low in January, reviving hopes of a Bank of England rate cut in March. However, gilt yields surged, with five‑year yields up 19 basis points, ten‑year up 14 basis points and two‑year up 12...
Missiles Made in Ukraine Are Bringing Putin’s Invasion Home to Russia
Ukraine’s domestically produced FP‑5 Flamingo cruise missile achieved a landmark strike in February, hitting the Votkinsk missile‑production complex deep inside Russia. The missile, developed by startup Fire Point, boasts a claimed 3,000‑kilometre range and a payload of over one tonne,...
US-Iran Conflict to Cut Brazil Diesel Spot Deals
The US‑Iran conflict has driven NYMEX heating‑oil futures up more than 12%, causing diesel premiums at Brazilian ports to more than double within a day. Spot‑market diesel deals are expected to grind to a halt as import costs surge and...
Mining Underpins National Profit Growth, ABS Reveals
The Australian Bureau of Statistics reported that gross operating profits across private‑sector firms rose 5.8% in the December quarter, driven largely by an 8.1% surge in mining profits. Mining sales grew 1.2% and inventories increased 0.7%, while wages in the...
Oil Holds Gain as Traders Brace for Fresh Attacks in Middle East
Oil prices continued to rise as the United States and Israel escalated military actions against Iran, prompting Tehran to threaten to close the Strait of Hormuz and launch drone attacks on the U.S. embassy in Riyadh. Brent crude climbed above...
Surging Oil Prices Could Derail Pakistan’s Fragile Economic Recovery
Oil prices jumped nearly 10 % after Iran’s retaliatory strikes, prompting JPMorgan to warn that Brent could reach $120 per barrel if Strait of Hormuz disruptions persist. Pakistan, which imports 85 % of its crude, faces a current‑account deficit increase of $1.5‑$2 billion...