In 2024, China’s luxury market is poised for a 4-6% resurgence after contracting due to COVID-19 disruptions. A robust comeback in 2024 signals a significant rebound from 2022 declines and mixed trends in 2023 for the industry. The growth is driven by a shift in Chinese consumer spending habits, where 60% of luxury purchases were […]
In the rapidly changing smartphone industry, Transsion, a Shenzhen-based company, has become a major player, particularly in Africa. The continent is now the second-largest mobile phone market globally and the fastest-growing, with 8 in 10 Africans owning a mobile phone. In 2023, Transsion reported the highest growth in global smartphone shipments among the world’s top […]
In 2023, the tale of online piracy paints a picture of a world adapting to digital advancements and grappling with new challenges. Piracy website visits globally have surged by 12% since 2019, reaching 141 billion, reshaping content access, especially in the U.S. and India. These figures showcase a digital landscape evolving rapidly, making content more […]
Africa’s economic development potential is closely linked to infrastructure modernization in its changing landscape. McKinsey’s analysis suggests Africa’s focus on solar, wind, and green hydrogen could cut energy emission intensity by 45% by 2050. This transition would require about $2.9 trillion in capital expenditure between 2022 and 2050, mainly dedicated to green energy sources. Investment […]
Saudi Arabia is actively diversifying its economy beyond oil, focusing on mining. This shift aligns with the Kingdom’s Vision 2030 goals. Riyadh is issuing exploration licenses, signaling its commitment to the global mining industry. The nation’s rich, untapped mineral resources, including copper, gold, and rare earths, are valued at $2.5 trillion. The Saudi Arabian Mining […]
The United States is intensifying its actions against the Houthi rebels in Yemen, signaling a significant shift in its approach to the ongoing conflicts in the Middle East. Escalation occurs amid the expanding Israel-Hamas strife, and the U.S. is considering re-designating Yemen’s Houthis as a terrorist organization. Concurrently, the U.S. has launched a new strike […]
Panasonic Energy’s new venture in De Soto, Kansas, marks a pivotal shift in the electric vehicle (EV) battery market. This Japanese battery giant is establishing its second U.S. gigafactory, following its successful Nevada plant. The De Soto facility, set to open next year, represents a significant $4 billion investment. It’s expected to generate 4,000 jobs, […]
The Colombian National Authority for Environmental Licenses (ANLA) has taken action against Perenco Colombia Limited, an Anglo-French oil firm. ANLA initiated three separate sanction proceedings due to the company’s environmental management issues in the Casanare region. Perenco, with operations across 14 countries, is a significant player in the oil industry. It particularly stands out in […]