Portugal, renowned as the globe’s top cork exporter and the sixth-largest wine exporter, is home to a wine industry worth billions of euros, providing livelihoods for hundreds of thousands. Nevertheless, this thriving sector finds itself at a crossroads as it grapples with particularly daunting challenges: an oversupply of wine and the ever-looming specter of climate change.
globalEDGE Blog - Page 15
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The Korean skincare industry has taken the beauty world by storm recently. As beauty enthusiasts become increasingly drawn to innovative products and multi-step routines, the focus on achieving flawless and radiant skin has made the Korean skincare industry, in particular, a global trendsetter.
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On September 12, the North African country of Libya was ravaged by extreme flooding. This disaster was spearheaded by Storm Daniel, one of the latest hurricanes to touch down this year. Two thousand people have died and 10,000 others are still unaccounted for at the hands of the natural disaster. During the storm, two dams in the country’s northeast side burst, sending an exorbitant amount of water to the city.
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As the rate that games are being developed at increases each day, the gaming industry shows no sign of slowing down any time soon. Although the pandemic prevented many gaming companies from developing new products, it helped the industry see a surge in many new gamers entering the market, leading up to present day.
Experts are seeing a rapid increase in the number of people playing games, with a staggering 3.38 billion people worldwide in 2023. As for the global market itself, experts predict $187.7 billion in revenue from the gaming industry this year, according to Newzoo. Large video game companies both abroad and in the United States, such as Activision Blizzard and Riot Games, are experiencing this growth first-hand.
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A Sriracha shortage has struck the aisles of supermarkets all across the world. Although this issue has only recently come into the spotlight, this fan-favorite hot sauce, in its green-capped bottle, has been hard to find for years. The sauce's parent company Huy Fong Foods does not have enough of one of its key ingredients, jalapeno chili peppers, to make its product, and supply chain issues may be to blame.
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Some of the most valuable shipping routes in the world are in the South China Sea, which is 1.4 million square miles in size. Developing conflicts in the South China Sea are having a significant impact on small businesses. Their location, industry, and reliance on the geographical region for business all influence how much of an effect they have. Around 80% of global trade is carried by sea, and estimates of the volume carried through the South China Sea range from 20% to 33%.
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The Panama Canal, one of the world’s largest trading channels, has been dealing with a severe drought this spring and summer, and is expected to continue to experience serious dryness in upcoming months. Panama has two seasons in a year: a dry season and a rainy season. Though the rainy season usually runs from late April until late November, Panama is still experiencing the lowest amount of rainfall since 2000. The unusual drought has caused lower water levels in the canal. According to Boris Moreno, the Vice President of Operations for the channel, the lakes that the passage depends on have close to minimum water levels.
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While the words "accessible luxury" may first appear to be an oxymoron, the concept has grown vastly in the past few years. The definition is pretty broad, but typically, accessible fashion includes better quality material and craftsmanship; however, their products are not quite as expensive as the stereotypical luxury companies such as Gucci or Louis Vuitton. Some popular accessible luxury companies include Calvin Klien, Coach, J Crew, William Sonoma, and MAC.
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As the world pivots away from fossil fuels and towards a sustainable future, one intriguing option is geothermal energy. By using fracking techniques developed by the oil and gas companies, companies are able to harvest heat from the Earth to power generators connected to the power grid. Geothermal energy is a nearly unlimited power source; according to scientists at Fervo Energy, there is enough geothermal energy in the United States alone to power the country several times over.
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A recent surge in the popularity of obesity and weight loss drugs in the United States is reshaping Denmark’s pharmaceutical industry.