Your morning coffee briefing from TFG. Global trade expected to grow 7-9% in 2021. The global shortage of computer chips is hitting SMEs and manufacturers hard with companies struggling with steep price rises and difficulties fulfilling orders. The largest fuel pipeline in the US was disabled by a cyber-attack prompting worry over gas prices.

Global trade to grow 7-9% in 2021

Moody’s Investors Service said it expects global trade to grow by 7-9% in 2021, following a 9% contraction in 2020 and that trade volumes will not reach their pre-Covid levels before 2022. Continued vaccination rollout and policy measures will support the economic recovery and trade flows, the risk of new virus variants, a resurgence of infections and new restrictions persists. Read more →

WTO launches Virtual Course on Trade and Public Health with special focus on COVID-19

The WTO, in collaboration with the WHO and the WIPO, launched its first Virtual Course on Trade and Public Health, which focuses on the COVID-19 pandemic. The 5 week virtual course will bring together government officials and technical experts from across the world working on health, intellectual property and trade policy issues.  Read more →

Chipmaker says shortages will lead to supply chain power struggle

The global chip shortage is set to ignite a power struggle between chip manufacturers and their customers about how the industry’s supply chain works and who pays the costs of carrying inventory. The chip shortage was caused by an unexpected rebound in demand for cars that coincided with a booming consumer electronics market. Read more →

Shutdown of US pipeline after cyber attack prompts worry over gas prices

The largest fuel pipeline in the US was disabled by a cyber-attack. It supplies 45% of fuel used on the east coast. The incident is one of the most disruptive digital ransom operations ever reported. A prolonged shutdown of the line would cause prices to spike at gasoline pumps ahead of peak summer driving season, a potential blow to U.S. consumers and the economy. Read more →

UK-India virtual summit agrees ‘2030 road map’ to strengthen ties

The UK and India agreed to strengthen economic and political ties under a new “strategic partnership” in key areas corresponding to commerce, schooling and defence. The partnership aims to open up alternatives for enterprise inside sectors corresponding to foods and drinks and life sciences by decreasing commerce boundaries. Read more →

Dr Ngozi Okonjo-Iweala appoints her four Deputy Directors-General at the World Trade Organization

Director-General Ngozi Okonjo-Iweala has announced the appointment of Angela Ellard of the United States, Anabel González of Costa Rica, Ambassador Jean-Marie Paugam of France and Ambassador Xiangchen Zhang of China as her four Deputy Directors-General at the World Trade Organization. Read more →

FCI Academy opens up all online courses to the entire factoring market

FCI Academy, the most complete education programme on Factoring & Receivables Finance, is providing a wide range of globally recognised and accredited educational offerings that aim to support personal, corporate and market development globally. Read more →