latest news in global
Global Hydrogen Projects Surge: Australia Leads Q4 2024 Expansion Wave
Sydney, Monday, 18 November 2024.
A significant shift in global hydrogen development is unfolding with 12 new plants announced across nine countries in Q4 2024. The projects represent a combined capacity of 175 million tonnes annually, with Australia securing the largest single project. While North America leads in total hydrogen capacity, Europe dominates in post-feasibility projects, signaling a strategic realignment in the global hydrogen landscape. Despite a typical year-end slowdown in project announcements, the sector maintains robust growth with 79% of projects in feasibility stage, indicating strong future development potential.
Indian Markets Signal Recovery: Foreign Investors May Return After ₹50 Lakh Crore Sell-Off
Mumbai, Monday, 18 November 2024.
Early signs of a market rebound emerge as foreign institutional investors (FIIs) slow their selling pace from ₹20,000 crore to ₹2,500 crore in November. CLSA’s strategic shift towards a 20% overweight position on India and new regulatory frameworks suggest renewed confidence in Indian equities, despite recent market correction and disappointing Q2 earnings.
Mali's $160M Mining Shakedown: CEO's Freedom Hangs in Balance
Bamako, Monday, 18 November 2024.
In an unprecedented corporate standoff, Resolute Mining agrees to pay $160 million to Mali’s government while its CEO and two executives remain detained in Bamako. The settlement, exceeding the company’s cash reserves, highlights escalating risks for international mining operations in West Africa. Despite the payment, operations at the Syama Gold Mine continue unaffected, though company shares plummeted 14.3% on the news. This case follows a pattern of Mali’s military government pressuring foreign mining companies, as demonstrated by similar actions against Barrick Gold, signaling a shifting power dynamic in Africa’s resource sector.
Power Shift in Iran: Mojtaba Khamenei's Secret Selection as Next Supreme Leader
Tehran, Monday, 18 November 2024.
In a clandestine September meeting, Iran’s Assembly of Experts reportedly chose Mojtaba Khamenei to succeed his ailing father, Supreme Leader Ali Khamenei. The unprecedented decision, made under alleged threats and pressure, could see power transfer even before the elder Khamenei’s death, marking a critical shift in Iran’s leadership amid regional tensions and internal challenges.
Saudi Real Estate Exhibition Shatters Records with $61 Billion in Deals
Riyadh, Monday, 18 November 2024.
Cityscape Global 2024 in Riyadh doubled its previous year’s performance, marking a pivotal moment in global real estate. The event showcased unprecedented growth with 426 exhibitors across 121,000 square meters, equivalent to 97 Olympic pools. A single North Riyadh land parcel set a Guinness World Record at $979 million, highlighting Saudi Arabia’s booming property market.
Russia's Economic Fortress: CASE Report Reveals Unexpected Resilience Through 2027
Russia, Monday, 18 November 2024.
Despite Western sanctions, Russia’s economy shows remarkable resilience with 3.6% growth in 2023 and projected 3.8-4.0% for 2024. The transformation into an ‘alternative globalization’ center, coupled with effective domestic market adaptations, suggests stability for at least the next three years, challenging initial collapse predictions. Military spending and labor shortages drive wage growth, while civilian sectors demonstrate surprising vitality with up to 10% growth in key areas.
Saudi Packaging Industry Set for 16% Growth by 2028
Saudi Arabia, Monday, 18 November 2024.
Saudi Arabia’s packaging sector is poised for remarkable expansion, projecting growth from 44.5 billion units in 2023 to 51.5 billion units by 2028. Flexible packaging dominates with a 32.8% market share, while rigid metal packaging emerges as the fastest-growing segment at 5.4% CAGR, reflecting the kingdom’s ambitious economic diversification strategy.
Russia Launches Largest Aerial Attack of 2024 on Ukraine's Power Grid
Kyiv, Sunday, 17 November 2024.
In a devastating overnight assault on November 17, Russia unleashed 120 missiles and 90 drones across Ukraine, killing at least nine civilians and severely damaging critical energy infrastructure. The attack, targeting multiple regions including Kyiv and Odesa, marks a significant escalation as winter approaches, threatening widespread power outages and disrupting essential services. Ukrainian air defenses intercepted 144 targets, while neighboring Poland scrambled fighter jets in response to the massive strike.
China Revolutionizes Tourism with Flying Taxis: EHang's $140 Billion Venture Takes Off
Beijing, Sunday, 17 November 2024.
China’s ambitious ‘low-altitude tourism’ initiative is transforming travel with EHang Holdings deploying autonomous flying taxis across 40 tourist destinations. This groundbreaking project, part of a sector projected to reach $140 billion by 2026, introduces aerial sightseeing below 1,000 meters using pilotless EH216-S aircraft, starting with iconic locations like the Bailong Elevator and Huanglong Cave. The venture marks China’s bold step into the future of automated aerial tourism.
Mexico's Economic Stability at Risk: Moody's Signals Warning with Negative Outlook
Mexico City, Sunday, 17 November 2024.
In a significant shift that rattles investor confidence, Moody’s has downgraded Mexico’s debt outlook to ‘negative’ while maintaining its Baa2 rating. The decision stems from concerns over judicial reforms threatening institutional independence and growing fiscal challenges, including a 6% GDP deficit and mounting Pemex liabilities. This comes as Mexico’s ambitious 2025 growth projections of 2-3% face skepticism against current 1.5% growth rates, highlighting increasing economic uncertainty.