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CATL to Invest in EV Battery Plant in Hungary

The Chinese battery manufacturer decides to invest over 7 billion dollars to build a battery plant in Hungary (the biggest across Europe). Announcing this recently, CATL (Contemporary Amperex Technology Co. Limited) is set to lay out $7.6 billion on the country. Building of 100-gigawatt-hour (GWh) battery plant in Debrecen, Hungary's second-largest city, is the largest foreign investment, CATL said. Also, another plant is under construction in the city by BMW, making it a flourishing location for electric vehicles and batteries.

Its construction, which will start after approvals, is believed to, at most, take 64 months.

The plant will provide automakers such as BMW, Stellantis, Mercedes-Benz and Volkswagen with battery cells. This is in line with Europe’s plan to rapidly boost its electric vehicles industry to respond to increasing demand for cell batteries and avoid potential supply bottlenecks.

Car makers including Tesla, Volkswagen, and Mercedes-Benz have already focused on promoting battery expansion programs in the continent to guarantee supply of vital cells and raw materials.

The Chinese investment will bring about a big progress in the company’s global status, said CATL’s founder Zeng Yuqun. Although there is conflict between the U.S. and China, the energy storage company is, additionally, planning to make batteries for auto companies like Ford Motor.

With a yearly capacity of 170.39 GWh in battery making from the end of 2021, CATL has a capacity of 140 GWh in progress. By 2025, the giant producer attempts to establish an overall annual capacity of 670 GWh.

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By Samira Ha. on August 16, 2022

China's Auto Sales Jump After 5 Years

Automobile sales in China saw a growth for the first time since 2017, which is somehow attributed to a rise in new energy vehicles’ (NEVs) sales, according to Wednesday’s industry data.

Total auto sales in the country increased 3.8% year-over-year as monthly sales (2.79 million cars) in the month of December caused overall sales to reach 26.28 million vehicles in 2021, shown by the China Association of Automobile Manufacturers (CAAM).

As the prospect for removal of chip shortage and high costs of raw materials blooms, it is predicted that this year auto production and sales will improve compared to the last year. China’s auto industry started shrinking as of 2018, despite several decades of boosting, as there were challenges including trade conflict between the U.S. and China and the pandemic outbreak.

China’s auto market rebound by the middle of 2020 was discontinued due to global issue of chip shortages, which also put a halt in car production throughout the world.

Last December, sales in China saw a decline of 1.6% versus a year earlier, which showed 8 successive monthly reduction, according to CAAM data. Sales of NEVs, however, climbed, a hike of 157.5% to 3.52 million units last year.

Only in December, 531,000 NEVs were sold in the market, 114% increase year-over-year.

CAAM’s last month prediction on auto sales was a jump of 5.4%, to 27.5 million units, in 2022. It also expects a 47% hike in NEV sales in the same year.

World’s auto competitors, like Tesla Automotive company, are focusing on appealing smart cars as electronic vehicle industry (EV) in China is growing fast. In the same front, Tesla last December saw a record 70,847 in sales of China-manufactured automobiles, revealed data from another China automobile association.

Volkswagen Vehicle manufacturer announced that in 2021 it couldn’t achieve its objective to sell 80,000 to 100,000 units of its ID battery electric series; it only sold 70,625 vehicles. However, the company attempts to possibly double its sales in 2022.

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By Samira Ha. on August 14, 2022

Food Processing, Packaging Fair in Vietnam

The international trade show for food processing, packing, held annually, is scheduled to open in Vietnam in August 11, 2022. ProPack Vietnam, which is the biggest fair in the field in Vietnam and Indochina, is a global venue for suppliers and manufacturers in the industries of food processing and food packaging to showcase their latest developments and promote their chance to have a better status in the market. Working on food and beverages processing and packaging, as well as printing and labeling, the prominent exhibition helps exhibitors display the most recent technology in the field.

 

ProPack Vietnam focuses on how diverse the visitors are, where they come from and their professional levels. Visitors in the industry join the trade fair from hotels, catering, restaurants, and those involved in food processing. the best thing about the show is that it is concurrent with the Vietfood & Beverage, yielding great results for food and beverage and packaging marketplaces. Attendees of the exhibition will be able to see food and drinks from raw materials, additives, and preservatives to production, processing, packaging and printing in one single event.

Attendees of the exhibition will be able to see food and drinks from raw materials, additives, and preservatives to production, processing, packaging and printing in one single event.

 

The 3-day long event will be held in Ho Chi Minh City from August 11-13, 2022. Public visitors along with the industry professionals can pay a visit.

 

Organized by VINEXAD JSC along with the Vietnam Association of Liquor, Beer and Beverage (VBA) and the Food and Foodstuff Association of Ho Chi Minh City (FFA), both shows are supported by the Ministry of Industry and Trade of Vietnam, its Ministry of Agriculture and Rural Development, as well as other trade promotion organizations in Vietnam and foreign countries.

 

Last time in 2019, the fair, at 15,000 square meters, included 650 booths with 550 exhibitors from 20 countries. In addition, 8 international pavilions were set up for countries including Poland, Taiwan, South Korea, India, Indonesia, China, Thailand and Vietnam. In 2021 the show was held online due to restrictions on the pandemic.

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By Samira Ha. on August 12, 2022

International Beauty Expo in Malaysia, August 2022

International Beauty Expo (IBE) is held in Kuala Lumpur Convention Centre, Malaysia, from August 11 until 14, 2022. The trade fair is a global venue where local and global beauty buyers and sellers meet up to communicate and develop the industry. The fair has been in place since 14 years ago. IBE has drawn over 30,000 professionals in the field with 1,000 exhibitors from 28 countries. So, it is regarded the biggest platform for beauty trades in Southeast Asia region. At the fair, the latest developments in beauty products, services, machines and technology are displayed to visitors.

The most recent trends in all aspects of beauty including hair, nail, cosmetics, health and wellbeing are showcased. Organized by Elite Expo Sdn. Bhd. the exhibition brings together marketing heads, marketing executives, manufacturers, wholesalers, importers and exporters to promote business networks. The B2B marketplace for beauty products is estimated to be attended by 5,000 visitors with 500 exhibitors.

Malaysia’s largest beauty fair for professional visitors is held annually. Alongside the exhibit, there are performances with make-up artistry, nail artistry, and hairdressing. Beauty artists have a chance to display their craftsmanship.

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By Samira Ha. on August 9, 2022

CanGift Fair Aug 7-10, 2022

Gifts and crafts lover will find it exciting to attend the Toronto Gift + Home Market trade show. Craft Alliance will organize the show where Atlantic Canadian exhibitors find it easy to enhance their sales. The Toronto Gift + Home Market (formerly named the Toronto Gift Fair) is a wholesale exhibition which has been created by the Canadian Gift Association (CanGift). The trade show only serves professional buyers in the related retail industry. 

Among the things that are offered in the show are collectibles, home décor, homeware, gardening items, and bed and linen products.

The Canadian Gift Association (CanGift), active since 1976, has enabled its members to grow in the fast-evolving market, representing a large number of gifts from Canadian entrepreneurs (at a value of $10 billion). CanGift, devoted to positive change, has helped big and small businesses to grow and succeed.

Here in Toronto's trade-only market, which takes place twice a year, gifts and crafts manufacturers, suppliers, wholesalers, distributors and buyers get connected to develop giftware industry. It is regarded an effective venue for them to share talents and skills and increase competitiveness.

Through Toronto Gift + Home Market and Alberta Gift + Home Market, members of this innovative association are able to explore the latest trends, see the brands, communicate with their counterparts and develop their business. Shipping discounts, telecommunications, insurance and payment processing are among members benefits.

CanGift provides its visitors with unique marketing opportunities, promotion of skills, occupational events as well as products and services.

Held in Toronto Congress Center, Ontario, the giftware exhibition is open from August 7 to 10, 2022.

If interested in giftware, join the association to develop your business and sell your products. Throughout the year, retailers can find products by member companies.

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By Samira Ha. on August 6, 2022

OECD Countries See Highest Inflation Since 1988

Industrialized OECD countries have seen a rise in inflation, a 34-year record high, since June 1988. The most recent statistics reveal the annual inflation rate in Organization for Economic Co-operation and Development (OECD), measured by the consumer price index (CPI), jumped to 10.3% in June 2022, versus 9.7% a month earlier.

In England, consumer prices saw an average rise of 9.1% in the year to June, which has been the speediest rate in inflation in the Irish economy since the year 1984. The rate is also higher than 7.8% in the year to May. Food and energy are top things with the main inflation rates.  

In the OECD countries, food prices jumped to 13.3% in June 2022, from 12.6% a month earlier, which is the highest amount in food price since July 1975. Alike, energy inflation rate rose to 40.7% year over year in June 2022, which is larger than 35.4 a month earlier.

Year-over-year inflation rate, apart from food and energy, rose to 6.7% in the month of June, from 6.4% in May.

Double-digit inflation was listed for almost a third of OECD countries, the highest was recorded in Turkey (78.6%) with the lowest in Japan (2.4%).

Measured by the harmonized index of consumer prices (HICP), year-over-year headline inflation, in the eurozone, had a jump of 8.6% in June, from 8.1% in May 2022. Both food and energy prices saw high rises between the months of May and June 2022. Flash estimate for the eurozone in July by the Eurostat suggests a further rise in year-over-year inflation rate (8.9%). In the meantime, price inflation, without considering food and energy, jumped to 4% versus 3.7% June 2022.  

As shown by Refinitiv data, stock markets are now pricing with a more than 90% possibility of a huge 50 basis point rate rise in the meeting to be held on Thursday while the central bank tries to curb inflation from a point recorded in four decades.

Additionally, a survey conducted by Reuters from over 70% of 65 economists and analysts predicts a half-point rise from the Bank of England's Monetary Policy Committee (MPC) in the current week.

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By Samira Ha. on August 4, 2022

World Food Expo, August 3 to 6, 2022, MANILA

The most popular food and beverages trade show in the Philippines, WOFEX has turned into the largest F&B exhibition over many years. Face-to-face shows will be held this year throughout the Philippines in WOFEX Regional shows. The show, to be held from August 3-6, offers many unique opportunities for training and learning along with live seminars and webinars and presents ultimate food experiences.

WOFEX, this year, features Artisan Baking, Art of Cake Decorating, Asean Barista Team Championship over 3 days.

WOFEX trade fair displays food products and services to those involved or interested in food and beverages industry.

In SensoryEx, held in WORLD TRADE CENTER, MANILA, August 4, professionals in food business will hold hands-on classes. In Artisan Baking Workshop, attendants will learn a lot and gain practical and effective skills to be able to bake pastries and artisan bread on their own without any difficulties. The workshop gives you confidence to focus on your passion and develop your own business.

Art of Cake Decorating is another interesting and inspiring part of the show which is held in WORLD TRADE CENTER, MANILA, August 5. Within the workshop you will gain an expertise to create flowers with gum paste and buttercream. This part will be fun and exciting to everyone. Participants will be trained to be creative and make splendid work to decorate their home-made or store cakes.

ASEAN Barista Championships, Manila August 5, is a venue for coffee artists to display their skills and creativity and compete with their skilled counterparts.

Safety protocols are observed to ensure safety of visitors.

To get further info on the show and sign up in the event visit the website.

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By Samira Ha. on August 2, 2022

Drop in Pakistan's Imports Under Ban on Nonessentials

Following a ban on nonessential goods, Pakistan’s imports dropped over a third this July, according to Finance Minister Miftah Ismail. He said in a Sunday news conference that the improvement Pakistan's in trade situation will take the pressure off the rupee.

The country saw a decrease in imports in July, to $5 billion, which is more than 35% below June’s record high, $7.7 billion. Latest data for the month of July is about to be announced soon by the central bank and Pakistan Bureau of Statistics (PBS).  

Saying “this is very welcome,” Ismail added that this follows the government’s attempt to ban imports of nonessential goods.

On Friday, the rupee traded up marginally at 239.37 to the dollar. Last week, the nonessentials import ban was removed, and only vehicles, mobile phones and household appliances are still prohibited.   

According to Ismail, the present government has been determined to dramatically lower the Current Account Deficit (CAD) and see a surplus in one or two years. Pakistan’s foreign exchange reserves are increasingly exhausted. The country has been challenged by a swelling current account deficit, with a $2.3 billion increase in June, which basically stemmed from a growth in oil imports. 

The deficit for June 30 – the end of financial year – reached $17.4 billion compared to $2.8 billion a year earlier.

A staff-level agreement was reached with the IMF for $1.17 billion paid under a bailout package which has been resumed again. 

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By Samira Ha. on July 31, 2022

China Still Sustains Clean Energy Despite Challenges

Energy officials, on Wednesday, said China will maintain green energy transition in spite of the struggles that world’s energy has faced following the Russia- Ukraine war.

China, which is the largest energy consumer in the world, has been attempting to find a balance between two things: its pledges to reach a maximum in emissions by the year 2030 and its necessity to maintain energy supplies. However, the country still aims to promote its fossil-free fuel energy by 1% per year by 2030, according to Zhang Jianhua, director of the National Energy Administration.

In a news conference held in Beijing, he said expansion of fossil-free fuel energy in China has persisted according to last year’s tight supply conditions and resumption of coal-fired power plants in European countries.

The world’s top greenhouse gas emitter attempts to cut coal consumption as of 2026. However, in March, President Xi Jinping stated that China “could not simply slam the brakes on consumption”.

Currently, China’s main utilities use record thermal coal, 170 million tons, and the government has promised not to cut power, versus last year’s widespread power failure.

Green, clean energy transformation in the world’s energy system is invariable in the long run and China will take advantage, said Li Chuangjun, director of the administration's renewable energy department.

Over the 6 months of 2022, the country exported 78.6 gigawatts (GW) of solar facilities and gained US$25.9 billion, over double the amount of a year earlier, he said.

Research earlier in 2022 suggested that 33 GW of new coal-fired power generation capacity was added in 2021, which is 3 times larger than the rest of the world combined.

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By Saha on July 28, 2022

Vietnam To Hold Saigon Fabric, July 27-30, 2022

Vietnam Saigon Fabric & Garment Accessories Expo, the largest international fair show on fabric and garment accessories in Vietnam, will start its work from 27 to 30 July, 2022. To be held in Ho Chi Minh City, the exhibition will feature the latest developments in textile industry and the newest machines and equipment for processing of textiles.

The big exhibition will be attended by over 257 professional exhibitors who showcase fiber products, linings, acrylic supplies, cotton supplies, wool supplies, nylons supplies, polyester supplies, leather items, furnishing fabric products, upholstery items, wall coverings, and so many more.

A large number of companies in Textile, Fabrics and Yarns industry are amongst exhibitors including Asialight Textile Co. Ltd. and Geron Co. Ltd.

Being the largest fair trade in textile and garment industry exhibition in Vietnam since 1990s, the annual expo is organized by VINATEX – Vietnam National Textile-Garment Group and Vietnam Chamber of Commerce and Industry and endorsed by Ministry of Industry & Trade of Vietnam, VITAS - Vietnam Textile & Apparel Association and AGTEK - Association Garment Textile Embroidery Knitting of HCMC.

The fabrics-related show is approved by UFI (the Global Association of the Exhibition Industry).

Opening hours include 09:00 AM - 05:00 PM, from Wednesday, July 27 to Saturday, July 30. Tickets for the professionals in textile-related industry are free of charge. It is expected that 28802 visitors will participate in the 4-day event.The current Covid-19 protection regulations of Vietnam will be in place during the event.

Held last time in 2019, the expo at an area of 33,000 sqm in 12 halls, was attended by 1,042 exhibitors from 25 countries.

For further information about the unique trade show, visit the site!

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By Saha on July 26, 2022