The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, outlines a clear path for making India a Viksit Bharat by 2047. Balancing growth imperatives with fiscal consolidation, the budget sets a fiscal deficit target of 4.9% of GDP for 2024-25, providing a buffer for potential geopolitical uncertainties and global economic challenges. This prudent…
DetailsA new strategic equity partnership between a global logistics leader and a prominent Turkish port operator has been established, aiming to elevate Turkey’s role in global trade by creating a new international logistics hub on the Marmara Sea. Following regulatory approval from the Turkish Competition Authority, the logistics provider acquired a 58% stake in the…
DetailsIndia’s Union Budget for 2024-25 is set to make significant strides in transforming the country’s logistics and supply chain sectors into global leaders. By focusing on substantial infrastructure investments, embracing technological advancements, and supporting small and medium-sized enterprises (SMEs), the budget outlines a clear path toward a more efficient and competitive logistics network. Key aspects…
DetailsManohar International Airport in north Goa has achieved a major milestone in logistics by successfully handling its first freighter aircraft, which transported 22 tons of goods. This accomplishment underscores the airport’s growing capacity to manage large-scale freight operations effectively. The A321 freighter aircraft, operated by an international air charter service and a Turkish airline, arrived…
DetailsThe Indonesian government is working to lower logistics costs from 14.29 percent to 8 percent of the Gross Domestic Product (GDP) in an effort to promote more efficient and competitive economic growth. This announcement was made by the Minister of Transportation during a National Seminar focused on “Improving Logistics Performance in Indonesia: Reflections, Challenges, and…
DetailsLondon, United Kingdom – July 26, 2024 – The International Centre for Trade Transparency & Monitoring (ICTTM) is delighted to announce a new strategic partnership with the Bulgarian Chamber of Commerce and Industry (BCCI). This agreement, signed earlier this week, will empower businesses in Bulgaria with ICTTM’s cutting-edge trade and supply chain data platforms, ADAMkyc and…
DetailsOrlando, FL – Nov 7-8– The highly anticipated Chief Procurement Officer (CPO) Summit 2024 will be held on November 7-8 at the prestigious Four Seasons Resort Orlando at Walt Disney World Resort. This exclusive event gathers top procurement executives and thought leaders from around the globe to discuss the latest trends, challenges, and innovations in…
DetailsA new player in the AI robotics sector has emerged with substantial financial backing, promising to revolutionize warehouse logistics. This innovative robotics company, specializing in warehouse automation, has secured $78 million across three funding rounds, including a significant Series B. While the company has not disclosed its valuation, the financial support underscores the growing interest…
DetailsA notable development in the logistics sector has emerged with the creation of a new logistics hub in Turkey, following regulatory approval from the Turkish Competition Authority. This newly formed entity, resulting from a merger, aims to meet the region’s increasing demand for advanced logistics solutions, enhance Turkey’s export and import volumes, create new industry…
DetailsA major player in the logistics industry has made a strategic move to enhance its global footprint through the acquisition of a leading freight forwarder. This acquisition is set to expand the company’s reach in key markets, including China, India, the US, and the GCC, while offering integrated logistics solutions in the UAE and leveraging…
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