Pharmaceutical giant Novartis invested billions in Slovenia, helping turn the country into a global player in generic drug production. Now, as cheap Asian competitors increasingly dominate the market, Swiss drug companies see…
Month: April 2024
Russian coal extraction tax to be raised again
Russian Ministry of Finance is considering the possibility of increasing the Mineral Extraction Tax (MET) on coal production. This measure will significantly increase the tax burden on coal industry amid falling prices…
European coal imports declined sharply in 2023
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Dec 2023, global seaborne coal loadings increased by +6.0% yo-y to 1,341.2…
Ukrainian Drone Attacks Drag Russia’s Refining Rates Down by 380,000 Bpd
Russia’s oil refinery rates have slumped this month by 380,000 barrels per day (bpd) compared to December levels as several refineries are under repairs after being hit by Ukrainian drone attacks. Russian…
UK Ship Comes Under Attack in the Red Sea
A UK-registered vessel has become the target of attack off the Yemeni coast, with military authorities saying that the crew had abandoned the vessel. The UK’s Maritime Trade Operations authority reported the…
ADM Under Investigation for Accounting Procedures
US prosecutors are investigating Archer Daniels Midland due to their accounting procedures. The chief financial officer of the global agricultural commodities trader was put on leave last month while an internal investigation…
USDA Sees More Soybean, Less Corn Production
The overall outlook for US corn, soybeans and wheat in 2024 is for larger supplies only partially met by increased domestic use and firming global demand. That preliminary forecast from the Interagency…
From Coal To Gas And Back: How Europe Is Easing Its Energy Crisis
Last year in November, the UK, together with key partner Italy, hosted the COP26 climate summit, an event many believed to be the world’s best last chance to get runaway climate change…
In Contrast to Hungary, Romania Cannot Get Enough of Ukrainian Wheat
Grain traders have imported one million tons of Ukrainian wheat to Romania this season. This makes Romania the second largest export market for Ukrainian wheat after Spain (3.3 million tons), reports the…
Fire Breaks Out in French Warehouse Full of Batteries
A fire broke out Saturday in a warehouse storing lithium-ion batteries in southern France, near Toulouse. Per media reports, the warehouse, property of local recycling company Société Nouvelle d’Affinage des Métaux contained…