Ukraine has launched another long-range drone strike deep inside Russian territory, hitting a major Wildberries warehouse more than 2,000 kilometers from the Ukrainian border. The attack is part of Kyiv's growing campaign targeting Russia's logistics infrastructure. According to reports, nearly 20 Wildberries facilities have been struck since mid-July.

Ukraine says the strikes are aimed at increasing the cost of Russia's war effort, while Moscow accuses Kyiv of targeting civilian infrastructure. At the same time, Russia has intensified attacks on Ukrainian warehouses, Black Sea ports, and critical export infrastructure, raising concerns over global food supplies and escalating tensions in the Russia-Ukraine war.

Ukraine Drones Strike Deep Inside Russia | Major Wildberries Warehouse Hit 2,000 KM From Border

China has announced a fresh round of sanctions targeting multiple U.S.-linked entities while tightening export controls on its globally dominant drone industry, adding another chapter to the ongoing U.S.-China trade tensions.

Beijing's stricter oversight of drone exports could affect international buyers and disrupt global supply chains across sectors including logistics, agriculture, surveillance, and defense. The move is expected to have implications for pricing, availability, and innovation in commercial drone markets.

Meanwhile, public sentiment in China has intensified following U.S. actions against certain Chinese food brands over alleged forced labor concerns. According to reports, many Chinese consumers have criticized the U.S. measures, highlighting how geopolitical disputes are increasingly influencing consumer behavior.

US-China Trade War Escalates | Beijing Targets American Entities and Drone Exports

Karnataka has emerged as the biggest beneficiary of the Government of India's Electronics Development Fund (EDF), reinforcing Bengaluru's position as the country's leading technology and innovation hub. According to official government data, Karnataka accounted for 90 of the 128 companies supported under the fund, attracting nearly 64% of the total investments. The Electronics Development Fund was launched to strengthen India's domestic capabilities in electronics, semiconductor design, embedded systems, and advanced technologies. The initiative supports startups and early-stage companies working on cutting-edge innovations that are critical to India's long-term technological ambitions.

Karnataka Leads India's Electronics Boom with Biggest Share of Government Tech Fund

India on Friday (Feb 20) joined the Pax Silica alliance on rare earth elements, ending speculation about whether New Delhi had been snubbed from the pact led by the US. Oddly, the US tried to downplay analysts’ assessments that this alliance is aimed at countering China’s continuing dominance in the rare earth supply chain that affects chip manufacturing and AI computing. Here is what you should know about Pax Silica and why India joining it is significant.<h2>What is Pax Silica?</h2>Pax Silica is a US-led strategic coalition to build resilient supply chains for both critical minerals and artificial intelligence computing. The framework envisions a coalition-led economic order for the AI age, with deep economic and technological cooperation among members.Signatories will cooperate on the making and flow of raw earth materials, semiconductors, and AI infrastructure. Experts say this is part of the broader US strategy to counter China’s dominance in high-tech sectors, particularly AI computing.<a href="https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed">https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed</a><h2>India signs on Pax Silica</h2>India joined the Pax Silica alliance at the India AI Impact Summit in New Delhi's Bharat Mandapam. Indian Minister for Electronics and IT, Ashwini Vaishnaw, US Ambassador to India Sergio Gor, and US Under Secretary of State for Economic Affairs Jacob Helberg attended the signing ceremony.Vaishnaw said that becoming part of Pax Silica will greatly benefit India’s electronics and semiconductor industry. Gor said the coalition “will define the 21st-century economic and technological order”.“Pax Silica is a declaration that the future belongs to those who build, and when free people join forces,” said Helberg.Also read: <a href="https://www.wionews.com/world/what-is-pax-silica-initiative-the-us-led-grouping-that-excluded-india-china-us-modi-trump-jinping-trade-war-tariffs-semiconductor-us-hegemony-1765541403919">What is Pax Silica Initiative? The US-led grouping that excluded India</a>&nbsp;<h2>Key pillars of the Pax Silica declaration</h2>The Pax Silica declaration vows to build secure, resilient, and innovation-driven supply chains for critical minerals and AI. It aims to establish a durable economic order to drive AI-powered prosperity across partner nations. It recognises that reliable supply chains are indispensable to mutual economic security and that AI is a transformative force for long-term prosperity. It stresses that trustworthy systems are essential to mutual security.The declaration seeks to promote co-investment, safeguard sensitive technologies from foreign control, and build trusted digital infrastructure.<h2>Why India joining Pax Silica is significant</h2>India’s participation is being seen as a major win for the US in the race to shape access to advanced semiconductors and AI infrastructure supply chains.India is a BRICS member, of which China is also part. New Delhi’s alignment with a US-led technology bloc is therefore geopolitically notable.India is pushing to become a chip-making hub. India’s first semiconductor plant is set to begin commercial production soon. Currently, 2nm chips are being designed in India.The US State Department recently announced a new concierge service to help Pax Silica signatories acquire US-made AI semiconductors more efficiently. This aligns with India’s push to become a global semiconductor and electronics manufacturing hub.<h2>The original idea of Pax Silica had excluded India</h2>The first Pax Silica summit was held on 12 December 2024 at the Donald J Trump Institute of Peace in Washington, DC.Besides the US, the original founding members of the alliance are Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the United Arab Emirates, and the United Kingdom. India is the 10th member.India was left out of the initial Pax Silica alliance, raising questions in diplomatic circles. The opposition Congress party at the time had criticised New Delhi’s exclusion as a setback for India’s strategic and technological ambitions.<h2>Not about China?</h2>Despite the optics, Helberg insisted that Pax Silica is “really not about China; it is about America”.“We want to secure our supply chains,” he said.However, the context is clear. China currently controls approximately 90 per cent of global rare earth refining — a key vulnerability the coalition seeks to address.&nbsp;Beijing also controls critical segments of the semiconductor and AI supply chains. Pax Silica aims to reduce reliance on Chinese sources for these strategic materials and technologies.&nbsp; The stress is on secure, resilient supply chains, co-investment in semiconductor manufacturing, and protection of sensitive technologies. This is clearly a signal that the intent is to counter China’s influence in high-tech sectors. India’s entry, in particular, strengthens the coalition’s geopolitical leverage given its strategic location and growing domestic semiconductor industry.This further underscores the implicit aim to limit China’s technological and economic reach.

India finally joins US-led Pax Silica alliance on rare earths and AI supply chains. This will boost semiconductor supply chains. It's a strategic move to counter China’s dominance in high-tech sectors.

India on Friday (Feb 20) joined the Pax Silica alliance on rare earth elements, ending speculation about whether New Delhi had been snubbed from the pact led by the US. Oddly, the US tried to downplay analysts’ assessments that this alliance is aimed at countering China’s continuing dominance in the rare earth supply chain that affects chip manufacturing and AI computing. Here is what you should know about Pax Silica and why India joining it is significant. What is Pax Silica? Pax Silica is a US-led strategic coalition to build resilient supply chains for both critical minerals and artificial intelligence computing. The framework envisions a coalition-led economic order for the AI age, with deep economic and technological cooperation among members. Signatories will cooperate on the making and flow of raw earth materials, semiconductors, and AI infrastructure. Experts say this is part of the broader US strategy to counter China’s dominance in high-tech sectors, particularly AI computing. https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed India signs on Pax Silica India joined the Pax Silica alliance at the India AI Impact Summit in New Delhi's Bharat Mandapam. Indian Minister for Electronics and IT, Ashwini Vaishnaw, US Ambassador to India Sergio Gor, and US Under Secretary of State for Economic Affairs Jacob Helberg attended the signing ceremony. Vaishnaw said that becoming part of Pax Silica will greatly benefit India’s electronics and semiconductor industry. Gor said the coalition “will define the 21st-century economic and technological order”. “Pax Silica is a declaration that the future belongs to those who build, and when free people join forces,” said Helberg. Also read: What is Pax Silica Initiative? The US-led grouping that excluded India Key pillars of the Pax Silica declaration The Pax Silica declaration vows to build secure, resilient, and innovation-driven supply chains for critical minerals and AI. It aims to establish a durable economic order to drive AI-powered prosperity across partner nations. It recognises that reliable supply chains are indispensable to mutual economic security and that AI is a transformative force for long-term prosperity. It stresses that trustworthy systems are essential to mutual security. The declaration seeks to promote co-investment, safeguard sensitive technologies from foreign control, and build trusted digital infrastructure. Why India joining Pax Silica is significant India’s participation is being seen as a major win for the US in the race to shape access to advanced semiconductors and AI infrastructure supply chains. India is a BRICS member, of which China is also part. New Delhi’s alignment with a US-led technology bloc is therefore geopolitically notable. India is pushing to become a chip-making hub. India’s first semiconductor plant is set to begin commercial production soon. Currently, 2nm chips are being designed in India. The US State Department recently announced a new concierge service to help Pax Silica signatories acquire US-made AI semiconductors more efficiently. This aligns with India’s push to become a global semiconductor and electronics manufacturing hub. The original idea of Pax Silica had excluded India The first Pax Silica summit was held on 12 December 2024 at the Donald J Trump Institute of Peace in Washington, DC. Besides the US, the original founding members of the alliance are Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the United Arab Emirates, and the United Kingdom. India is the 10th member. India was left out of the initial Pax Silica alliance, raising questions in diplomatic circles. The opposition Congress party at the time had criticised New Delhi’s exclusion as a setback for India’s strategic and technological ambitions. Not about China? Despite the optics, Helberg insisted that Pax Silica is “really not about China; it is about America”. “We want to secure our supply chains,” he said. However, the context is clear. China currently controls approximately 90 per cent of global rare earth refining — a key vulnerability the coalition seeks to address. Beijing also controls critical segments of the semiconductor and AI supply chains. Pax Silica aims to reduce reliance on Chinese sources for these strategic materials and technologies. The stress is on secure, resilient supply chains, co-investment in semiconductor manufacturing, and protection of sensitive technologies. This is clearly a signal that the intent is to counter China’s influence in high-tech sectors. India’s entry, in particular, strengthens the coalition’s geopolitical leverage given its strategic location and growing domestic semiconductor industry. This further underscores the implicit aim to limit China’s technological and economic reach.

India finally joins US-led Pax Silica alliance on rare earths and AI supply chains. This will boost semiconductor supply chains. It's a strategic move to counter China’s dominance in high-tech sectors.

Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal

Food adulteration in India is a growing public health crisis, affecting everyday staples from milk and spices to edible oils. Economic pressures, weak enforcement, and a fragmented supply chain allow harmful chemicals and non-food substances to contaminate what we eat. Learn which foods are most commonly adulterated, the dangers they pose, and how authorities and citizens are working to safeguard health. Stay informed and protect your family.

Food Adulteration In India: Health Risks, Unsafe Everyday Foods

Under adverse circumstances, here are some essential foods that just might come in handy for you. They include  rice, lentils, grains ,honey, canned foods, milk powder and dry pasta. Life & Fun | Lifestyle | Photos 

8 foods that could save your life if food supply chain goes down

India is ready to make a bold trade move with the US as President-elect Donald Trump takes office with plans to cut tariffs on key imports and attract more American businesses. The country is positioning itself as a top alternative to china for global manufacturers. Take a look at this report for more.

India Aims to Replace China in US Supply Chain

India is ready to make a bold trade move with the US as President-elect Donald Trump takes office with plans to cut tariffs on key imports and attract more American businesses. The country is positioning itself as a top alternative to china for global manufacturers. Take a look at this report for more. 

Aston Martin, the British luxury carmaker has issued a sobering financial update that has sent ripples through the automotive industry. The company announced a significant downward revision of its annual core profit projections and a reduction in its anticipated production volumes. This adjustment comes in response to persistent supply chain disruptions and a notable weakening of demand in the crucial Chinese market.

&nbsp;

The news had an immediate impact on investor confidence, with Aston Martin's shares plummeting by 8 per cent in early trading. This development aligns with a broader trend among European automakers, who have been increasingly vocal about the challenging business environment in China, which remains the world's largest automotive market despite recent economic headwinds.

&nbsp;

In light of these challenges, Aston Martin has been forced to revise several key financial and operational targets. The company no longer anticipates achieving positive free cash flow in the first half of the year, a goal that had been previously set. Aston Martin has reduced its 2024 wholesale volumes target by approximately 1,000 vehicles, a move aimed at addressing the current market realities and supply chain constraints.

&nbsp;

The root of these issues, according to Aston Martin, lies in the growing frequency of late component arrivals due to disruptions affecting multiple suppliers. This has resulted in extended production times for vehicles and subsequent delays in deliveries to customers. The situation is particularly challenging as Aston Martin had recently phased out production of older models, with plans to ramp up production of new models expected to drive revenue and profit growth from the second half of the year onwards.

&nbsp;

Adrian Hallmark, Aston Martin's newly appointed CEO, acknowledged the gravity of the situation, stating, "Near perfect execution was required to meet the company's ambitious 2024 plan. However, it has become clear that we need to take decisive action to adjust our production volumes for 2024." This candid assessment highlights the complexity of the challenges facing the luxury carmaker.

&nbsp;

The company now anticipates that both its adjusted core profit and wholesale volumes for the third quarter will fall below market expectations. Aston Martin has revised its gross profit margin forecast for the year, now projecting it to be "modestly" below 40 per cent, down from the previous target of approximately 40 per cent.

&nbsp;

The Chinese market, which has been a key focus for many luxury automakers, has proven particularly problematic for Aston Martin. Sales in the region were already on a downward trajectory, prompting the company to announce plans in July to launch its next-generation sports cars in China, in hopes of revitalizing its presence in this critical market.

&nbsp;

Aston Martin's struggles are not isolated within the automotive industry. Other major players are also grappling with similar challenges. Stellantis recently issued its own profit warning, while Volkswagen has reduced its outlook for 2024. Mercedes-Benz, another luxury marque, has twice lowered its full-year profit margin target in as many months.

Aston Martin, the British luxury carmaker has issued a sobering financial update that has sent ripples through the automotive industry. The company announced a significant downward revision of its annual core profit projections and a reduction in its anticipated production volumes.

Aston Martin, the British luxury carmaker has issued a sobering financial update that has sent ripples through the automotive industry. The company announced a significant downward revision of its annual core profit projections and a reduction in its anticipated production volumes. This adjustment comes in response to persistent supply chain disruptions and a notable weakening of demand in the crucial Chinese market. The news had an immediate impact on investor confidence, with Aston Martin's shares plummeting by 8 per cent in early trading. This development aligns with a broader trend among European automakers, who have been increasingly vocal about the challenging business environment in China, which remains the world's largest automotive market despite recent economic headwinds. In light of these challenges, Aston Martin has been forced to revise several key financial and operational targets. The company no longer anticipates achieving positive free cash flow in the first half of the year, a goal that had been previously set. Aston Martin has reduced its 2024 wholesale volumes target by approximately 1,000 vehicles, a move aimed at addressing the current market realities and supply chain constraints. The root of these issues, according to Aston Martin, lies in the growing frequency of late component arrivals due to disruptions affecting multiple suppliers. This has resulted in extended production times for vehicles and subsequent delays in deliveries to customers. The situation is particularly challenging as Aston Martin had recently phased out production of older models, with plans to ramp up production of new models expected to drive revenue and profit growth from the second half of the year onwards. Adrian Hallmark, Aston Martin's newly appointed CEO, acknowledged the gravity of the situation, stating, "Near perfect execution was required to meet the company's ambitious 2024 plan. However, it has become clear that we need to take decisive action to adjust our production volumes for 2024." This candid assessment highlights the complexity of the challenges facing the luxury carmaker. The company now anticipates that both its adjusted core profit and wholesale volumes for the third quarter will fall below market expectations. Aston Martin has revised its gross profit margin forecast for the year, now projecting it to be "modestly" below 40 per cent, down from the previous target of approximately 40 per cent. The Chinese market, which has been a key focus for many luxury automakers, has proven particularly problematic for Aston Martin. Sales in the region were already on a downward trajectory, prompting the company to announce plans in July to launch its next-generation sports cars in China, in hopes of revitalizing its presence in this critical market. Aston Martin's struggles are not isolated within the automotive industry. Other major players are also grappling with similar challenges. Stellantis recently issued its own profit warning, while Volkswagen has reduced its outlook for 2024. Mercedes-Benz, another luxury marque, has twice lowered its full-year profit margin target in as many months.

China may face supply chain issues: Aston Martin warns of low profits

As concerns about potential shortages in supply continue to grow, the price of cocoa rose to new all-time highs in New York. Monday saw futures reach a new high, climbing 4.6%. This comes after last week when cocoa prices marked the biggest weekly gain since 1999. Watch to know more!

Persistent supply fears push Cocoa to new record high

US companies are increasingly turning their gaze towards India as a strategic alternative to China. According to a survey by UK market research firm Onepoll, 61% of 500 US executives surveyed would opt for India if both countries could manufacture the same materials.

Survey: India gains traction as supply chain alternative

Shipping giant Maersk resumes shipping in Red Sea. Maersk said, 'Red Sea risk not completely eliminated yet.' The US has accused Iran of aiding Houthi Pirates. More than 20 countries have joined the US-led coalition to protect Red Sea shipping from attacks by Yemen's Houthi rebels; However Spain will not participate in coalition against Red Sea attacks.

Shipping Giant Maersk to resume shipping in Red Sea under U.S. protection

There seems to be no respite for battered global supply chains. First trade wars, followed by covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war. Global energy prices jumped as tensions escalated around the vital shipping route, where drone and missile assaults have prompted some companies to halt sending cargos.

Red Sea crisis raises the spectre of Supply Chain Disruption | World DNA | WION

Singapore is taking proactive steps to harness the changing dynamics of global manufacturing flows by partnering with Malaysia and Indonesia to bolster its regional supply chain. This strategic collaboration aims to capitalise on rising investments from India, China, and Southeast Asia in recent years.&nbsp;

During an event hosted by LSEG and Reuters Newsmaker,&nbsp;Managing Director of Singapore’s Economic Development Board (EDB)&nbsp;Jacqueline Poh highlighted the importance of fostering a robust manufacturing base that encompasses Singapore, the southern Malaysian state of Johor, and the nearby Riau Islands of Indonesia. This collaborative effort is envisioned to position Southeast Asia as a formidable production hub.&nbsp;

Singapore’s objective is twofold: to maintain its status as one of the world’s premier financial centres and leverage the ongoing wealth shift towards Asia. Concurrently, the city-state is actively establishing itself as a wealth management hub catering to the ultra-rich.&nbsp;

However, the competition for a share of this growth is intensifying across the region as economies and businesses recover from the lingering effects of the COVID-19 pandemic.&nbsp;

Poh cautioned that the EDB anticipates a relatively subdued 2023 in terms of investments following a record-breaking 2022. In the previous year, Singapore secured S$22.5 billion (approximately $16.5 billion) in fixed asset investments, with over 66 per cent originating from electronics manufacturing projects.&nbsp;

“The primary driver for investments was the semiconductor super cycle," Reuters quoted Poh as saying. However, the electronics industry has faced a downturn, leading to a reversal of this trend.&nbsp;

Currently, Singapore holds an 11 per cent share of the global semiconductor market, with 20 per cent of global semiconductor equipment being manufactured within the country.&nbsp;

Additionally, Poh emphasised the EDB’s commitment to promoting “green finance” and renewable energy investments, encompassing sectors such as solar, wind, and hydropower.&nbsp;

Rising Family Offices&nbsp;

Singapore is maintaining its status as a sanctuary for the wealthy, who are establishing family offices to handle their money outside of their native countries in order to avoid political unrest and economic unpredictability.&nbsp;

According to data from the Monetary Authority of Singapore (MAS), there will be 1,100 single family offices in Singapore by the end of 2022, up from 400 at the end of 2020. These offices manage investments, taxes, asset transfers, and other financial problems for the wealthy.&nbsp;

Poh maintained that Singapore has made efforts to foster these family offices by enhancing training initiatives focused on asset management and financial planning.&nbsp;

“We've worked with the Wealth Management Institute at the MAS to start a brand-new course for family offices so that our family offices have to attend this new sort of training to better understand how they can deploy their capital,” Reuters quoted Poh as saying.&nbsp;

(With inputs from Reuters)&nbsp;

WATCH WION LIVE HERE

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Singapore is taking proactive steps to harness the changing dynamics of global manufacturing flows by partnering with Malaysia and Indonesia to bolster its regional supply chain.

Singapore is taking proactive steps to harness the changing dynamics of global manufacturing flows by partnering with Malaysia and Indonesia to bolster its regional supply chain. This strategic collaboration aims to capitalise on rising investments from India, China, and Southeast Asia in recent years. During an event hosted by LSEG and Reuters Newsmaker, Managing Director of Singapore’s Economic Development Board (EDB) Jacqueline Poh highlighted the importance of fostering a robust manufacturing base that encompasses Singapore, the southern Malaysian state of Johor, and the nearby Riau Islands of Indonesia. This collaborative effort is envisioned to position Southeast Asia as a formidable production hub. Singapore’s objective is twofold: to maintain its status as one of the world’s premier financial centres and leverage the ongoing wealth shift towards Asia. Concurrently, the city-state is actively establishing itself as a wealth management hub catering to the ultra-rich. However, the competition for a share of this growth is intensifying across the region as economies and businesses recover from the lingering effects of the COVID-19 pandemic. Poh cautioned that the EDB anticipates a relatively subdued 2023 in terms of investments following a record-breaking 2022. In the previous year, Singapore secured S$22.5 billion (approximately $16.5 billion) in fixed asset investments, with over 66 per cent originating from electronics manufacturing projects. “The primary driver for investments was the semiconductor super cycle," Reuters quoted Poh as saying. However, the electronics industry has faced a downturn, leading to a reversal of this trend. Currently, Singapore holds an 11 per cent share of the global semiconductor market, with 20 per cent of global semiconductor equipment being manufactured within the country. Additionally, Poh emphasised the EDB’s commitment to promoting “green finance” and renewable energy investments, encompassing sectors such as solar, wind, and hydropower. Rising Family Offices Singapore is maintaining its status as a sanctuary for the wealthy, who are establishing family offices to handle their money outside of their native countries in order to avoid political unrest and economic unpredictability. According to data from the Monetary Authority of Singapore (MAS), there will be 1,100 single family offices in Singapore by the end of 2022, up from 400 at the end of 2020. These offices manage investments, taxes, asset transfers, and other financial problems for the wealthy. Poh maintained that Singapore has made efforts to foster these family offices by enhancing training initiatives focused on asset management and financial planning. “We've worked with the Wealth Management Institute at the MAS to start a brand-new course for family offices so that our family offices have to attend this new sort of training to better understand how they can deploy their capital,” Reuters quoted Poh as saying. (With inputs from Reuters) WATCH WION LIVE HERE

Singapore in talks with Malaysia and Indonesia to establish regional supply chain: Report 

The world is looking to diversify its supply chain away from China. Singapore is in talks with Malaysia and Indonesia to develop a strong regional supply chain base. Speaking at an event, Jacqueline Poh, economic development board's managing director, said that the city-state is expecting a more muted 2023 in terms of investments, after a record 2022 where it secured 16.5 billion dollars in fixed asset investments. More than 66% of the investments went for establishing electronics manufacturing projects.

Singapore, Indonesia & Malaysia seek a regional supply chain base

The United States is set to issue new restrictions on American investments in Chinese Tech Industries sources close to the Biden Administration healed. The move has been deemed necessary to protect National Security interests. The Biden Administration is now pushing to de-risk critical Supply chains this being achieved by developing suppliers outside of China as well as increasing restrictions on selling certain technologies to China.

US: New restrictions on Chinese investments

European aircraft manufacturer Airbus said Wednesday its revenues and net profit fell during the first quarter of the year as deliveries dropped amid continuing supply chain difficulties.

The company delivered 127 aircraft in the first three months of this year, down from 142 during the same period last year.

While this had only a modest impact on revenue, which dipped two per cent to 11.76 billion ($13.0 billion), net profit fell by 62 per cent to 466 million euros.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/air-france-airbus-went-to-trial-for-the-2009-rio-paris-crash-heres-what-happened-583379">Explained | Air France, Airbus trial over the 2009 Rio-Paris crash. Here's what happened</a>

"We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain," said chief executive Guillaume Faury.

Airbus posted a record profit of 4.2 billion euros in 2022 despite supply chain problems limiting its ability to raise production.

ALSO WATCH |&nbsp;Low output by Airbus causes concerns

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The company slashed production and jobs during the pandemic when airlines halted most operations, and it has had trouble scaling production back up, as have some of its suppliers.

The Russian invasion of Ukraine also complicated sourcing certain parts.

Revenues generated by Airbus' commercial aircraft activities decreased by five per cent year-on-year, mainly reflecting the lower deliveries, the company said.

The company's defence and space unit saw revenues drop by six per cent, while the helicopter unit jumped by 26 per cent as deliveries rose.

The first quarter performance was also hit by a charge of 360 million euros due to change in the value of the US dollar from when some pre-payments were made to settlement when aircrafts were delivered.

The company said it's 2023 outlook remains unchanged, which is for commercial aircraft deliveries to rise from 661 last year to 720 this year. 
&nbsp;

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European aircraft manufacturer Airbus said Wednesday its revenues and net profit fell during the first quarter of the year as deliveries dropped amid continuing supply chain difficulties.

European aircraft manufacturer Airbus said Wednesday its revenues and net profit fell during the first quarter of the year as deliveries dropped amid continuing supply chain difficulties. The company delivered 127 aircraft in the first three months of this year, down from 142 during the same period last year. While this had only a modest impact on revenue, which dipped two per cent to 11.76 billion ($13.0 billion), net profit fell by 62 per cent to 466 million euros. ALSO READ | Explained | Air France, Airbus trial over the 2009 Rio-Paris crash. Here's what happened "We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain," said chief executive Guillaume Faury. Airbus posted a record profit of 4.2 billion euros in 2022 despite supply chain problems limiting its ability to raise production. ALSO WATCH | Low output by Airbus causes concerns × The company slashed production and jobs during the pandemic when airlines halted most operations, and it has had trouble scaling production back up, as have some of its suppliers. The Russian invasion of Ukraine also complicated sourcing certain parts. Revenues generated by Airbus' commercial aircraft activities decreased by five per cent year-on-year, mainly reflecting the lower deliveries, the company said. The company's defence and space unit saw revenues drop by six per cent, while the helicopter unit jumped by 26 per cent as deliveries rose. The first quarter performance was also hit by a charge of 360 million euros due to change in the value of the US dollar from when some pre-payments were made to settlement when aircrafts were delivered. The company said it's 2023 outlook remains unchanged, which is for commercial aircraft deliveries to rise from 661 last year to 720 this year. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Airbus net profit goes down as airplane deliveries drop due to supply chain issues

Food insecurity in the United Kingdom has resulted in millions of people skipping meals for a whole day, according to new data. The report by the Food Foundation&nbsp;charity showed that the situation has deteriorated in the past few months, and it was made worse by the cost of living crisis in the UK.&nbsp;

The crisis has been brewing for quite some time now with the supply chain getting affected severely due to the COVID-19 pandemic as well as the war in Ukraine. It resulted in growing inflation which means that in the month of September, one out of five low-income families faced scarcity of food.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/us-to-release-14-million-barrels-of-oil-from-reserves-to-cap-gas-prices-report-526511" hreflang="en">US to release 14 million barrels of oil from reserves to cap gas prices: Report</a>

The data further showed that 18 per cent of households were forced to reduce their food consumption in September while six per cent said that they end without any food for an entire day.&nbsp;

This is the worst food insecurity that the UK has experienced since the start of 2022 as food and energy prices continue to fluctuate. While the government has introduced several measures to address the problem, the situation continues to worsen for the most vulnerable families in the country.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-summons-senior-chinese-diplomat-after-protester-beaten-at-manchester-consulate-526501">China's top diplomat involved in violence at Manchester consulate, claims MP</a>

Among the families impacted by food insecurity, the data also showed that children are having an extremely hard time. While demands have been raised to provide free meals to children from vulnerable families, the majority of primary schools have not implemented a proper system till now.&nbsp;

“The situation is appalling and getting so much worse. We call on the government to urgently extend eligibility for free school meals to all families receiving universal credit, so that support reaches the kids who need it most,” the charity’s chief executive, Naomi Duncan told The Guardian.&nbsp;

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Food insecurity in the United Kingdom has resulted in millions of people skipping meals for a whole day, according to new data. The report by the Food Foundation charity showed that the situation has deteriorated in the past few months, and it was made worse by the cost of living crisis in the UK.

Food insecurity in the United Kingdom has resulted in millions of people skipping meals for a whole day, according to new data. The report by the Food Foundation charity showed that the situation has deteriorated in the past few months, and it was made worse by the cost of living crisis in the UK. The crisis has been brewing for quite some time now with the supply chain getting affected severely due to the COVID-19 pandemic as well as the war in Ukraine. It resulted in growing inflation which means that in the month of September, one out of five low-income families faced scarcity of food. Also read | US to release 14 million barrels of oil from reserves to cap gas prices: Report The data further showed that 18 per cent of households were forced to reduce their food consumption in September while six per cent said that they end without any food for an entire day. This is the worst food insecurity that the UK has experienced since the start of 2022 as food and energy prices continue to fluctuate. While the government has introduced several measures to address the problem, the situation continues to worsen for the most vulnerable families in the country. Also read | China's top diplomat involved in violence at Manchester consulate, claims MP Among the families impacted by food insecurity, the data also showed that children are having an extremely hard time. While demands have been raised to provide free meals to children from vulnerable families, the majority of primary schools have not implemented a proper system till now. “The situation is appalling and getting so much worse. We call on the government to urgently extend eligibility for free school meals to all families receiving universal credit, so that support reaches the kids who need it most,” the charity’s chief executive, Naomi Duncan told The Guardian.

Millions forced to skip meals for an entire day in the UK, new study shows

US railroad workers are close to striking over claims that grueling schedules and poor working conditions have been driving employees out of the industry over the past several years. The looming strike could paralyse the nation's supply chain and transportation.

Possible US Railroad strike could fuel more inflation, cripple transportation

Apple has reportedly asked suppliers in Taiwan to strictly enforce a long-standing rule that Taiwanese-made parts and components are labelled made either in "Taiwan, China" or "Chinese Taipei.

According to Nikkei, the company wants to avoid disruption from strict Chinese customs inspections resulting from the visit of US House Speaker Nancy Pelosi to Taiwan last week.

The Cupertino-based tech behemoth has asked the suppliers to treat the matter with urgency to avoid possible disruptions caused by goods and components being held for scrutiny, the report said.

The announcement comes at a time when Apple is all set to launch iPhone 14 and other new products in September.

Any item, document or carton bearing "Made in Taiwan" phrase can lead to shipments getting delayed or rejected by the Chinese customs authorities, and, in a worst-case scenario, a fine of 4,000 yuan ($592) may also be levied, Nikkei reported quoting sources.

Beijing considers Taiwan as a breakaway province that will eventually be reunited with the Chinese mainland. But Taiwan, which has a population of around 23 million, is a self-ruled island that sees itself as distinct from the mainland.

Also read |&nbsp;<a href="https://www.wionews.com/world/as-4-day-military-drill-near-taiwan-ends-china-assures-new-exercises-in-yellow-and-bohai-seas-504680">After drills near Taiwan, China to run new exercises in Yellow &amp; Bohai seas</a>

Ever since the Covid pandemic resulted in supply disruption, Apple has been making efforts to diversify its production process.

Also read |&nbsp;<a href="https://www.wionews.com/world/taiwan-official-responsible-for-doubling-missile-production-capacity-succumbs-to-heart-attack-504727">Taiwan: Official responsible for doubling missile production capacity succumbs to heart attack</a>

The US tech giant has been betting big on Indian and Brazilian sites and trying to be less reliant on Chinese factories.

However, analyst Ming-Chi Kuo notes that the iPhone 14 production capacity in India won’t be enough to fill the gap caused by production challenges in China in the short term, but added that it’s still an “important milestone for Apple” when it comes to expanding iPhone production to other places, reports The Guardian.

(With inputs from agencies)

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Apple has reportedly asked suppliers in Taiwan to strictly enforce a long-standing rule that Taiwanese-made parts and components are labelled made either in "Taiwan, China" or "Chinese Taipei.

Apple has reportedly asked suppliers in Taiwan to strictly enforce a long-standing rule that Taiwanese-made parts and components are labelled made either in "Taiwan, China" or "Chinese Taipei. According to Nikkei, the company wants to avoid disruption from strict Chinese customs inspections resulting from the visit of US House Speaker Nancy Pelosi to Taiwan last week. The Cupertino-based tech behemoth has asked the suppliers to treat the matter with urgency to avoid possible disruptions caused by goods and components being held for scrutiny, the report said. The announcement comes at a time when Apple is all set to launch iPhone 14 and other new products in September. Any item, document or carton bearing "Made in Taiwan" phrase can lead to shipments getting delayed or rejected by the Chinese customs authorities, and, in a worst-case scenario, a fine of 4,000 yuan ($592) may also be levied, Nikkei reported quoting sources. Beijing considers Taiwan as a breakaway province that will eventually be reunited with the Chinese mainland. But Taiwan, which has a population of around 23 million, is a self-ruled island that sees itself as distinct from the mainland. Also read | After drills near Taiwan, China to run new exercises in Yellow & Bohai seas Ever since the Covid pandemic resulted in supply disruption, Apple has been making efforts to diversify its production process. Also read | Taiwan: Official responsible for doubling missile production capacity succumbs to heart attack The US tech giant has been betting big on Indian and Brazilian sites and trying to be less reliant on Chinese factories. However, analyst Ming-Chi Kuo notes that the iPhone 14 production capacity in India won’t be enough to fill the gap caused by production challenges in China in the short term, but added that it’s still an “important milestone for Apple” when it comes to expanding iPhone production to other places, reports The Guardian. (With inputs from agencies) WATCH WION LIVE HERE

Apple asks Taiwanese suppliers to label products as ‘made in China’: Report

US Treasury Secretary Janet Yellen called for deeper trade ties among allies to fortify their supply chains, combat inflation and thwart China's unfair trade practices.

Yellen calls for strengthening trade ties between US and allies against China

China's factory activity likely expanded in June for the first time in four months, driven by a faster recovery in production and an easing of supply chain snags as manufacturing hubs emerged from lockdowns.

China's June factory activity likely expanded for first time in 4 months

In order to replace Russian energy imports, Israel and Egypt signed a memorandum of understanding (MoU) on Wednesday with an aim to boost natural gas exports to Europe as supply chain disruptions due to the ongoing Russia-Ukraine war are causing shortages.

The framework deal signed with the European Union (EU) will be the first to allow "significant" exports of Israeli gas to Europe, Israel's energy ministry said. Under the agreement, the EU will encourage European companies to participate in Israeli and Egyptian exploration tenders.

European Commission President, Ursula Von Der Leyen says, “And indeed, we’re experiencing a war on European soil and therefore we are now in the process of completely diversifying our energy supplies away from Russian fossil fuels to other trustworthy suppliers, and you are these trustworthy suppliers.”

Some Israeli gas is already sent by pipeline to liquefaction plants on Egypt's Mediterranean coast, from where it is re-exported as liquefied natural gas (LNG). Officials say they expect shipments of LNG from Egypt to Europe to increase under the agreement, though they have said it would likely take a couple of years before the exports can be significantly expanded.

Also Read:<a href="https://www.wionews.com/photos/in-pics-ukraine-bids-farewell-to-its-war-heroes-488400">&nbsp;In pics: Ukraine bids farewell to its war heroes</a>

Ursula says, “And I see it as a first step leading to a Mediterranean-wide agreement because I see that the energy supplies from traditional are from the most Northern part now are shifting towards the global south because you have an abundance of natural resources. You have the sun, you have the wind, you have partially the hydropower, so these are the pre-audition resources that will feed the global clean energy of the future.” 
Egypt is also a gas producer, but its exports have been limited by rising domestic demand.

The agreement recognizes that natural gas will have a central role in the EU's energy market until 2030. Following that, the use of natural gas is expected to decline in line with its commitment to becoming a zero-emission economy by 2050.

(with inputs from agencies)

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In order to replace Russian energy imports, Israel and Egypt signed a memorandum of understanding (MoU) on Wednesday with an aim to boost natural gas exports to Europe as supply chain disruptions due to the ongoing Russia-Ukraine war are causing shortages.

In order to replace Russian energy imports, Israel and Egypt signed a memorandum of understanding (MoU) on Wednesday with an aim to boost natural gas exports to Europe as supply chain disruptions due to the ongoing Russia-Ukraine war are causing shortages. The framework deal signed with the European Union (EU) will be the first to allow "significant" exports of Israeli gas to Europe, Israel's energy ministry said. Under the agreement, the EU will encourage European companies to participate in Israeli and Egyptian exploration tenders. European Commission President, Ursula Von Der Leyen says, “And indeed, we’re experiencing a war on European soil and therefore we are now in the process of completely diversifying our energy supplies away from Russian fossil fuels to other trustworthy suppliers, and you are these trustworthy suppliers.” Some Israeli gas is already sent by pipeline to liquefaction plants on Egypt's Mediterranean coast, from where it is re-exported as liquefied natural gas (LNG). Officials say they expect shipments of LNG from Egypt to Europe to increase under the agreement, though they have said it would likely take a couple of years before the exports can be significantly expanded. Also Read: In pics: Ukraine bids farewell to its war heroes Ursula says, “And I see it as a first step leading to a Mediterranean-wide agreement because I see that the energy supplies from traditional are from the most Northern part now are shifting towards the global south because you have an abundance of natural resources. You have the sun, you have the wind, you have partially the hydropower, so these are the pre-audition resources that will feed the global clean energy of the future.” Egypt is also a gas producer, but its exports have been limited by rising domestic demand. The agreement recognizes that natural gas will have a central role in the EU's energy market until 2030. Following that, the use of natural gas is expected to decline in line with its commitment to becoming a zero-emission economy by 2050. (with inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Israel and Egypt sign MoU with EU to boost gas exports to Europe

South Korean truck drivers staged an eighth day of protests Tuesday over rising fuel costs&nbsp;that have further snarled&nbsp;global supply chains, with&nbsp;the government warning their actions&nbsp;had caused&nbsp;more than $1 billion in losses.

The strike has disrupted shipment and production for the crucial steel, petrochemical and automobiles industries, causing about 1.6 trillion won ($1.2 billion) in losses, according to data from Seoul's trade ministry.

Also read |&nbsp;<a href="https://www.wionews.com/world/south-korea-says-north-korea-fires-multiple-artillery-shots-from-rocket-launchers-487600">South Korea says North Korea fires multiple artillery shots from rocket launchers</a>

The industrial action is the latest headache for global supply chains, already strained by prolonged COVID-19 lockdowns in China and Russia's invasion of Ukraine.

South Korea is the world's largest memory chip exporter and home to global chip powerhouse Samsung Electronics, as well as large car companies including Kia and Hyundai Motors.

It also represents the first major industrial action under newly-elected President Yoon Suk-yeol, a pro-business conservative who previously vowed to deal "strictly" with labour disputes.

The drivers stopped work last week and have disrupted ports and factories in Asia's fourth-largest economy as they protest against the ending of a minimum wage guarantee and rising costs.

"All we are asking for is to remove the uncertainty in our lives," Cho Jeong-jae, a member of the Cargo Truckers Solidarity Union, told AFP Tuesday.

Watch |&nbsp;South Korea truck strike: Steel maker Posco to halt some plants

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The truckers say they are "desperate" due to sharp rises in fuel costs -- with inflation in South Korea at its highest level in over a decade according to official data last month.

"When fuel prices drop, it's reflected very quickly by lowering freight fees," Cho said. "But that's not the case when fuel prices rise. Our livelihood is at stake."

Loud music blared out from a van parked near a port in Incheon on Tuesday, AFP reporters saw, as dozens of trucks lined up the road, flying flags hoisted on bamboo canes.

Similar protests were happening across the country as of Monday, more than 7,000 people took part in the protests at 14 locations,&nbsp;according to the land ministry.

Negotiations are ongoing, but the government has come under fire for its "hostile" policy towards workers, which critics say is fuelling the tensions.

Also read |<a href="https://www.wionews.com/world/in-a-suspected-arson-at-least-seven-people-killed-in-south-korean-building-fire-486682">&nbsp;In a suspected arson, at least seven people killed in South Korean building fire</a>

On the campaign trail, Yoon a political novice&nbsp;had vowed to deal "strictly" with labour disputes and indicated he was more pro-business on issues such as minimum working hours.

As of Monday, 23 members of the Cargo Truckers Solidarity Union had arrested for committing "illegal activities" such as "interfering" with normal vehicle operation, according to the country's transport ministry.

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South Korean truck drivers staged an eighth day of protests Tuesday over rising fuel costs that have further snarled global supply chains, with the government warning their actions had caused more than $1 billion in losses.

South Korean truck drivers staged an eighth day of protests Tuesday over rising fuel costs that have further snarled global supply chains, with the government warning their actions had caused more than $1 billion in losses. The strike has disrupted shipment and production for the crucial steel, petrochemical and automobiles industries, causing about 1.6 trillion won ($1.2 billion) in losses, according to data from Seoul's trade ministry. Also read | South Korea says North Korea fires multiple artillery shots from rocket launchers The industrial action is the latest headache for global supply chains, already strained by prolonged COVID-19 lockdowns in China and Russia's invasion of Ukraine. South Korea is the world's largest memory chip exporter and home to global chip powerhouse Samsung Electronics, as well as large car companies including Kia and Hyundai Motors. It also represents the first major industrial action under newly-elected President Yoon Suk-yeol, a pro-business conservative who previously vowed to deal "strictly" with labour disputes. The drivers stopped work last week and have disrupted ports and factories in Asia's fourth-largest economy as they protest against the ending of a minimum wage guarantee and rising costs. "All we are asking for is to remove the uncertainty in our lives," Cho Jeong-jae, a member of the Cargo Truckers Solidarity Union, told AFP Tuesday. Watch | South Korea truck strike: Steel maker Posco to halt some plants The truckers say they are "desperate" due to sharp rises in fuel costs -- with inflation in South Korea at its highest level in over a decade according to official data last month. "When fuel prices drop, it's reflected very quickly by lowering freight fees," Cho said. "But that's not the case when fuel prices rise. Our livelihood is at stake." Loud music blared out from a van parked near a port in Incheon on Tuesday, AFP reporters saw, as dozens of trucks lined up the road, flying flags hoisted on bamboo canes. Similar protests were happening across the country as of Monday, more than 7,000 people took part in the protests at 14 locations, according to the land ministry. Negotiations are ongoing, but the government has come under fire for its "hostile" policy towards workers, which critics say is fuelling the tensions. Also read | In a suspected arson, at least seven people killed in South Korean building fire On the campaign trail, Yoon a political novice had vowed to deal "strictly" with labour disputes and indicated he was more pro-business on issues such as minimum working hours. As of Monday, 23 members of the Cargo Truckers Solidarity Union had arrested for committing "illegal activities" such as "interfering" with normal vehicle operation, according to the country's transport ministry. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

South Korean trucker strike snarls supply chains

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