The global economy is growing, but growing at a lower rate than anticipated, said George Anjaparidze, senior economist, IATA who went on to cite International Monetary Fund (IMF) CEO Christine Lagarde who recently warned that the world was on the threat of entering a new phase of mediocre growth becoming the new reality. “And that’s exactly what we’re seeing,” added Anjaparidze. The advanced economies are still growing, but very slowly he noted with emerging economies growing far below their … [Read more...] about Air cargo in the ‘new mediocre’ of global economic growth
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UPS CEO warns against protectionism
Fresh from announcing a 56 per cent plummet in first quarter earnings, UPS CEO Scott Davis warned that protectionist moves would seriously danger the fragile global economy. “UPS will emerge from these difficult times as a more efficient and finely-honed enterprise,†said Davis. He added: “In this worldwide recession, no one should lose focus on global trade. It is one of the most important tools we have to lift us out of this financial crisis. The fragile economic … [Read more...] about UPS CEO warns against protectionism
Q1 profit for Agility amid declining logistics market
Kuwait-based Agility has reported a 16.4 per cent rise in net profit for the first quarter 2009 over the same period last year despite the slowdown affecting the global economy. Net profit before non-recurring items was KD39.2 million (US$134.8 million). "Going forward, we are proceeding with extreme caution, and will continue to centre our efforts on aggressively managing cost and cash while driving performance. We also continue to scope out game changing opportunities for mergers and … [Read more...] about Q1 profit for Agility amid declining logistics market
