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Global Scans · Economy · Weekly Summary


DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

  • [New] The rate of technological advancement in dairy will continue to evolve and support production of high quality ingredients that will facilitate supply to meet global demand for protein. PubMed Central (PMC)
  • [New] While Mexico possesses notable factors and conditions conducive to economic growth, addressing infrastructural deficiencies and promoting inclusive development remain crucial for unlocking its full potential on the global stage. Hivelr
  • [New] The WHO recommends organized, population-based mammography screening every 2 years for women at average risk for breast cancer aged 50-69 years in well-resourced settings. PubMed Central (PMC)
  • [New] Wales has the potential to be a world leader in the development of new floating offshore wind technology, which a recent government-backed taskforce says could unlock up to £43bn of GVA [gross value added - a measure of economic growth] to the UK economy and create around 30,000 jobs by 2050. The Guardian
  • [New] As generative AI continues to transform industries and boost the global economy, staying current on the latest advancements will be key to maintaining a competitive edge. Dataquest
  • [New] The existing duty rates on road fuel gases, which are lower than the equivalent rates on diesel, will continue to 2032, giving the haulage industry greater certainty over future tax rates and supports the decarbonization of the UK transport sector. GOV.UK
  • [New] According to financial analysts, over the next decade, between $60 billion and $150 billion could flow into Mexico as part of the efforts to move production closer to consumption centers, Melgar adds. Coatings World
  • [New] Policy measures to bolster the Chinese economy could influence the RBA rate path. FX Empire
  • [New] Policy measures to bolster the Chinese economy could boost demand and improve trade terms with Australia. FX Empire
  • [New] Qualifying individuals will not pay tax on FIG arising in the first four tax years after becoming UK tax resident following a period of 10 tax years of non-UK tax residence. Global Compliance News
  • [New] mRNA vaccine technology could play an important role in boosting livestock production to meet global food demands. phys.org
  • [New] CBAM as a means to reshape production norms in steelmaking The EU's Carbon Border Adjustment Mechanism, expected to be fully implemented from 2026 onward, is a regulatory framework used to put a fair price on the carbon emitted in the production of imports into the EU. EUROMETAL
  • [New] The price assumptions for coking coal have been raised to $ 240/mt from $ 210/mt for 2024 and to $ 190/mt from $ 180/mt, due to lower seaborne supply amid weak exports from Australia and Russia, while the price assumptions for 2026 remain the same at $ 170/mt. SteelOrbis
  • [New] International credit rating agency Fitch Ratings has announced that it has raised its iron ore price assumptions for 2024, 2025 and 2026, while also increasing its coking coal price assumptions for 2024 and 2025, though keeping its coking coal price assumptions for 2026 stable. SteelOrbis
  • [New] Disruptions to global asset prices could be amplified by shortcomings in the management of leverage and liquidity mismatches, including by non-bank financial intermediaries in key financial centers. Reserve Bank of Australia
  • [New] If stresses were to spread throughout the financial system and economy more broadly, they could spill over to the rest of the world (including Australia) through trade channels and an increase in global risk aversion. Reserve Bank of Australia
  • [New] Risks to the outlook for the global economy have become more balanced as inflation has eased, but global financial stability risks remain elevated. Reserve Bank of Australia
  • Leeds has a diverse and growing economy with a key focus on promoting inclusive growth; the Local Plan 2040 will look at how much land is needed to support economic development and which parts of Leeds should be prioritised for business development. Leeds City Council News
  • Lowering Scope 1 and Scope 2 emissions from hydrocarbon activities is the most cost-effective way to reduce emissions by 2030 compared to any other source in the global economy, and that 15% of energy-related emissions, or 5.1 billion mt of CO2e, stem from upstream and midstream activities. Energy Connects
  • European Green Transition is a UK company developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition. TradingView
  • The Bank of Uganda recently convened a Monetary Policy Committee (MPC) meeting that increased its policy rate by 50 basis points to 10% to deal with the new inflation threats. The East African

Last updated: 26 March 2024



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