After losing a World Trade Organization (WTO) ruling, China has scrapped its quota system restricting exports of rare earth minerals. Beijing imposed the restriction in 2009 while it tried to develop its own industry for the 17 minerals which are crucial to making many hi-tech products, including mobile phones. A WTO panel ruled that China had failed to show the export quotas were justified. China dominates rare earth production. The US, the European Union and Japan complained that China was limiting exports in a bid to drive up prices.
CANALS
Once hewn out of land during the Industrial Revolution, canals were once Britain’s main arteries of trade until the rise of railways and roads made them redundant. As these grimy factory areas have been improved, so have the 4,800km of canals that remain. In places like Birmingham and Manchester canal paths have been designated as bike routes. Between 2005 and 2014, the number of boats on the canals in England and Wales increased by a quarter to 32,000. In some areas, freight is making a comeback. The number of containers shipped on the Manchester ship canal increased from 3,000 in 2009 to 23,000 in 2013. Also, London’s soaring house prices have made living on the water more attractive.
ONIONS
Onions are eaten and grown in more countries than any other vegetables. The UN estimates that they are grown in at least 175 countries, well over twice as many as grow wheat, the largest crop by tonnage. Unlike wheat, the onion is a staple of every major cuisine and is the only truly global ingredient. There is little global trade in onions as about 90 per cent are consumed in their country of origin. China and India dominate production and consumption, between them accounting for about 45 per cent of the world’s annual production of more than 70-million tonnes. The onion belongs to the lily family.
DUBAI
The airport in Dubai only started appearing among the world’s 30 busiest airports in 2007, when 34.3-million passengers passed through. It is now the world’s busiest airport for international travelers. Last year, 69-million international passengers passed through Dubai airport compared to 67.8-million for London’s Heathrow airport. In 2008, the airport opened the Emirates Terminal 3, the world’s largest passenger terminal. The number of passengers arriving in the city since 2008 has increased twofold and the rapid increase shows little sign of slowing down. The airport is now the largest duty free retailer in the world with revenues reported of over US$1-billion.
GOOD NEWS
Last year when the Sony Corp. was hacked, the beleaguered entertainment company dug up old Blackberrys to use after Sony’s computers and landlines went down and company e-mail was unusable after the cyber attack. The emergence of the old devices as a haven for Sony executives has served as a free advertisement of sorts for Blackberry. Sony stated that Blackberry devices and servers are a lot more secure than other solutions out there that are commercially available.
GADGETS
European Union rules will oblige new networked devices such as modems and internet-connected televisions to switch themselves off when not in use. Many gadgets are connected to the internet 24/7, using 25-100 watts while their owners sleep. New devices will fall asleep, using a trickle of power when not in use which should save an average household about US$70 a year. This is part of the EU’s Ecodesign initiative which aims to cut costs, improve competitiveness and reduce carbon emissions.
BABIES
Japan’s birth rate slumped to a record low in 2014, dropping to 1,001,000 newborns in 2014, 9,000 fewer than in 2013.The fall is the fourth in consecutive years and comes as the estimated number of deaths continues to rise, at just under 1.3-million last year. Experts warn that the impact of the decline will harm Japan in various ways. By 2050 the population could be as low as 97-million, 30-million lower than now. A lowering of the number of people aged between 15 to 64 is predicted to lower potential growth and shrink Japan’s GDP.
CHOCOLATE
A new facility has opened in the UK to safeguard the future of chocolate. It is a bigger and better clearing house for all the world’s new cocoa varieties, which must be quarantined before they can be grown. Demand for chocolate is increasing faster than the global supply of cocoa, of which an estimated 30 per cent is lost each year to pests and disease. The new facility will consolidate the collection of 400 varieties into a single improved greenhouse and should make the quarantine process faster, cheaper and greener.
WAGES
Canada’s highest paid chief executive officers saw their incomes soar to pre-recession levels in 2013 according to a new survey. The top 100 CEO’s earned on average C$9.2-million in salary, bonuses and stock options, the second-highest level since 2007, the year before the global financial crisis hit. In comparison, the average Canadian earned $47,358. All five CEOs of Canada’s biggest banks were in the top 30.
EUROS
The new year meant a new currency for Lithuania; it is joining the euro, following its Baltic neighbours Estonia and Latvia. Some Lithuanians fear price rises but opinion polls point to growing optimism towards the euro. Officials believe that the euro will not only boost investment but will also bring deeper integration with the West. With Lithuania’s entry the eurozone now has 19 members.
SOIL
A new report warns that the health of Africa’s soil will lock the continent into a cycle of food insecurity for generations to come. Soil degradation is already hampering economic development costing the continent’s farmers billions of dollars in lost income. It is estimated that 65 per cent of arable land, 30 per cent of grazing land and 20 per cent of forests are already damaged. Degraded land leads to lower crop yields and increased greenhouse gas emissions. The average yield in sub-Saharan Africa is about one tonne per hectare. In India it is about two-and-a-half tonnes and in China, more than three tonnes per hectare.
VENDING
A Vancouver entrepreneur is taking convenience to a new level with his plan to install grocery vending machines in Metro Vancouver condos. The machines will be stocked with staples such as milk, eggs, bacon and coffee. Technology in the machines will tell when items are set to expire. If successful, the concept will be introduced across the country.
BATTERIES
Researchers claim that old laptop batteries still have enough life in them to power homes in slums. An IBM study analysed a sample of discarded batteries and found 70 per cent had enough power in them to keep an LED light on more than four hours a day for a year. The researchers say that using discarded batteries is cheaper than existing power options and also helps deal with the mounting e-waste problem. It is hoped that this concept could help the approximately 400-million people in India who are off grid. IBM research estimated that 142,000 computers are thrown away daily in the US.
CALLING
Under an agreement reached at the European Parliament, an emergency call system dubbed eCall will be installed in all new cars from March 2018. The system will send an automated call to emergency services in the event of an accident and could half response times, especially in rural areas. The system will give emergency services only basic information such as: type of vehicle, fuel used, time of accident and location.
POLLUTION
A New Zealand research team has warned of the threat posed by pharmaceutical products as well as soaps and cosmetics dumped in Antarctic waters by Antarctic research bases. It is likely that environmental conditions, including extreme cold, have contributed to the persistence of some compounds in seawater. Contaminants have been found in Antarctic waters in concentrations comparable to more urban areas elsewhere in the world.
PASTA
From hearty lasagne to creamy spaghetti carbonara, Britain’s love affair with pasta spans decades. But sales of the traditional Italian staple have recently plummeted with speculation that the trend away from carbohydrates and even towards gluten-free food might be to blame. Purchases of pasta are down over four per cent in the past year as high –protein diets see a resurgence. Sales of rice have shown a strong increase and are up by 3.6 per cent and are worth nearly US800-million annually.
SAFETY
Canada sits top of a list of countries ranked for their food safety systems, but has work to do in three key areas, according to the Conference Board of Canada. The country was tied with Ireland for first place in the study of 17 developed countries. However, the study noted some weaknesses in the Canadian system, including the ability to trace food through the processing chain, tests on the levels of pesticides and other chemicals and establishing acceptable levels of radiation in what we eat.
TRENDS
From introducing beer cafes to offering cooking classes, North American grocers are increasingly challenging the notion that customers should only visit their stores to purchase weekly staples. Some grocers are even organizing social activities such as wine tastings. Others have introduced “groceraunts”-in-store eateries, cafes and gourmet delis-in direct competition with restaurants. As more grocers pursue similar projects to turn their stores into destination spots, the lines between convenience stores, drug stores, restaurants and grocery stores are likely to continue to blur.
TAXES
Average tax revenue rose to 34.1 per cent of GDP last year in the OECD, a club mostly of rich countries, the highest tax take since 2007. As a percentage of GDP, the highest tax rate was in Denmark at 48 per cent, followed by France at 44 per cent, Italy, 42 per cent and Germany, 37 per cent. Mexico has the lowest tax take in the OECD at 20 per cent with revenues equivalent to less than a fifth of its GDP.
BANKING
With US$1-trillion in assets, Islamic banking is being hailed by British authorities and supported by Canada’s government, major banks and credit unions, leading business schools and influential Muslims across Canada. Islamic banking bans interest payments, pure monetary speculation and investing in such things as alcohol, gambling, media and pork. It is being touted as the next big thing in financing for Canada, which is home to just over a million Muslims. Some of the world’s largest Islamic banks, most of which are in the Middle East, Indonesia and Pakistan, are looking at rebranding to appear less religious and more open to Western investors.
JUSTICE
The European Court of Human Rights says that France violated the rights of Somali pirates who attacked French ships and has ordered France to pay compensation to them over judicial delays. The pirates will get thousands of euros because they were not immediately brought before a French judge.
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