globalEDGE Blog - Page 87

This winter, Australia gave life to business extraordinaire Elon Musk’s mega-battery, changing the scope of energy production as we know it.  The battery is the size of an American football field and powers 30,000 homes in Southern Australia and was built in the Tesla founder’s guaranteed 100-day time frame. On the heels of his accomplishment, Musk has announced another mega-battery to be built, putting on full display the growing market of batteries as the future of society’s power source.

The Downside of Brexit for Ireland 

Looking across the pond to Ireland, Americans unfamiliar with the still evolving consequences of Brexit might be inclined to see it as a net positive for the Emerald Isle. After all, it didn't Brexit, but neighbors to the north most certainly did. 

One of the major trends in the fashion industry for 2018 will be the rise of vegan fashion, according to The Future 100 report from J. Walter Thompson Intelligence.  As social media use has risen throughout recent years, it has become easier for individuals to share opinions on various social and environmental issues with others all over the globe.  One issue that has attracted media attention is the treatment of animals in the fashion industry.  According to People for Ethical Treatment of Animals, more than a billion animals are killed every year in the leather industry.  Also, many of the chemicals used in the tanning process have a harmful effect on the environment and on the workers that handle them.  As millennials gain buying power, it is important for companies to reflect the same values as their customers, and 66% of Millennials all over the world reported that they are willing to spend more on fashion brands that provide sustainable and eco-friendly products.

Stock markets all over the world did very well last year.  Many countries have seen their stock market indices hit record highs recently.  A stock market index is a tool used to measure a section of the stock market.  The most popular stock market indices measure some of the largest, most influential companies traded on the stock market.  Here are two links that explain how a price-weighted index and a market-value weighted index are calculated. The two most popular American stock market indices are the Dow Jones Industrial Average, which is a price-weighted index, and the S&P 500, which is a market-value weighted index. 

International investing is more appropriate than ever for Asian countries like South Korea, Japan, and India. These emerging markets are predicted to generate big gains for investors due to aspects such as their growing middle-classes, stimulative economic policies, and even the depreciation of the U.S. dollar. 

The globalEDGE team is back in the office today!  With our arrival, we wanted to just take a blog post to highlight some of our incredible resources.  If you’re writing a paper or need to prepare a report our website has valuable statistics and general trade information for you.

The UAE and Saudi governments have finally implemented the Value Added Tax (VAT) system on the 1st of 2018, after more than year of planning. Many business and individuals are still struggling to grasp how to handle this new tax system. The VAT was set at 5% in both countries and is expected to stay at that rate. This rate applies to almost every good or service one purchases daily, with the exception of certain specified items stated by each government.

Late last year Russia and OPEC agreed to extend their agreement to decrease oil production until the end of 2018.  Russia, OPEC, and other major oil-producing countries agreed to reduce their oil production in 2017 in an attempt to decrease the global supply of oil and in turn increase the price of oil.  An extension was signed in advance of the previous deal ending in this coming March.  The original cut in oil production was in response to falling oil prices.  After declining for the previous few years, 2017 saw rising oil prices worldwide, due in large part to the agreement limiting oil that OPEC and other countries enacted last year.  West Texas Intermediate saw crude oil prices rise from $43.33 per barrel in 2016 to $50.56 per barrel in 2017. 

Terrorism, a word that has been popping up all over the news in the past decade. With multiple different forms of this horrendous crime, they are affecting the world in many different ways. The economic impact of terrorism has reached an all-time high with larger security measures being implemented, more cleanups occurring and less traveling taking place due to fear which has been instilled.

In October, the National Retail Federation announced that it expected holiday sales to increase between 3.6 and 4 percent in 2017. This would create a total spending of $678.75 billion to $682 billion, up from $655.8 billion last year. After the primary holiday shopping season concluded on December 24th, the U.S. economy slashed these estimates, resulting in a 4.9 percent yearly increase in this time period.