Mexican President Andres Manuel Lopez Obrador, speaking at a trilateral meeting with US and Canadian leaders, suggested that President Joe Biden and Prime Minister Justin Trudeau jointly plan for production on the continent to ensure import substitution and thereby limit China's dominance of the global market. In particular, he noted that Canada, the US and Mexico account for 13% of the global...

Biden called on the antitrust regulator to check whether US oil and gas companies are taking illegal actions to maintain high petrol prices. Biden intervened amid mounting pressure over inflation and falling ratings. US President Joe Biden has asked the Federal Trade Commission to investigate the role of oil and gas companies in rising gasoline prices, states The Wall Street Journal. Biden said...

The International Energy Agency (IEA) has barely changed its forecasts for global oil demand in 2021-2022: it still expects it to grow by 5.5 million bpd this year and has raised its 2022 forecast by 0.1 million bpd to 3.4 million bpd, according to a November report from the agency. "Global oil demand is rising due to strong gasoline consumption and increased international travel as more...

Shares in Dubai's stock exchange operator have more than doubled in a fortnight. So far, the bourse is losing competition to the Abu Dhabi-based exchange, but the new management is actively working to gain investors' attention, Bloomberg noted. The market value of Dubai Financial Market, the operator of the Dubai Stock Exchange, has doubled since the beginning of November, in just two weeks,...

The US Federal Reserve has published another edition of its biannual Financial Stability Report. In the report, the Fed reports on current and potential risks to the global and US economy and financial system. The latest issue, the Fed, touches on problems in the Chinese real estate market, "which could complicate the Chinese financial system with possible implications for the US". At issue...

The world may face a shortage of special medical syringes used to vaccinate against the coronavirus next year, the World Health Organization (WHO) said. Over 6.8 billion COVID-19 vaccinations have been given worldwide this year 2021. This volume is comparable to the number of syringes produced: 6 billion per year, said Lisa Hedman, WHO senior adviser on access to medicines and health products....

According to the UN Food and Agriculture Organization (FAO), international food commodity prices climbed to their highest level since July 2011. In September, the food price index increased by 3% to 133.2 points. "The FAO Food Price Index, which analyzes monthly changes in international prices of main staple food commodities," according to the organization's website, "averaged 133.2 points in...

The International Organisation of Vine and Wine (OIV) forecasts global wine production in 2021 at 247.1-253.5 million hectolitres. This would bring it close to the record low of 2017. The OIV notes that the drop in production is due to unfavourable climatic conditions. "2021 will be the third consecutive year when global wine production will be below average due to late spring frosts and...

Global air cargo volume grew by 9.1% in September 2021 over the same period in 2019, the International Air Transport Association (IATA) said in a press release. In August, the same growth rate was 7.5%, the release noted. September 2021 to September 2020 growth is estimated at 15.1%. "Air cargo traffic grew by 9.1% in September to pre-summer levels. Supply chain side congestion is an advantage...