Boeing plans to add a new 737 Max production line to meet strong demand

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing said it plans to add a fourth 737 Max production line in the second half of next year as it targets higher output of its best-selling plane, an executive told staff on Monday. The new line will be housed in Boeing’s massive Everett, Washington, factory, where it has been reworking some of its 787 Dreamliners…

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Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport. Jan Woitas | Picture Alliance | Getty Images Boeing generated positive free cash flow last year for the first time since 2018 thanks to a rebound in aircraft sales and deliveries but labor and supply shortages weighed on its earnings. Airlines and aircraft manufacturers have benefitted from a sharp recovery in air travel, one of the most affected industries during the pandemic. Boeing generated about $3 billion in cash flow in the fourth quarter, higher than analyst forecasts, and…

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Southeast Asia Struggling With Exports Dip Amid Lower Demand From China

Southeast Asian countries are struggling with a decline in exports due to lower demand from China and there are concerns that the decline will continue in the coming months, Japan-based media company NHK World reported. According to a statement by the Thai Ministry of Commerce, exports in December 2022 dropped by 14.6 per cent year-on-year to approximately 21.7 billion dollars. It was the third straight month of decline. Exports to China fell by 20.8 per cent. Similar problems are being experienced by Singapore with non-oil exports contracting 20.6 per cent…

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Food fraud secretly infiltrates kitchens across America — here’s how to avoid it

The food in your kitchen cabinets may not be what it seems. “I guarantee you any time a product can be passed off as something more expensive, it will be. It’s that simple,” Larry Olmsted, author of “Real Food/Fake Food,” told CNBC. Fraudsters motivated by economic gain secretly infiltrate the global food market through a variety of means, including counterfeits, dilutions, substitution and mislabeling. This not only harms consumers’ wallets, but it also puts public health and safety at risk. Some estimates say food fraud affects at least 1% of…

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Flexport to lay off 20% of its global workforce

Ryan Petersen, chief executive officer of Flexport, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Wednesday, May 4, 2022. Bloomberg | Bloomberg | Getty Images Supply chain software startup Flexport is laying off 20% of its global workforce, or roughly 640 employees, according to a memo from co-CEOs Ryan Petersen and Dave Clark. Petersen started Flexport in 2013 because he figured there had to be a better way to manage the flow of goods that get put on cargo ships, planes, trucks and…

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Some supply chain managers are wary of shifting trade back to West Coast ports

Shipping containers are offloaded from a container ship in the Port of Los Angeles before U.S. President Joe Biden delivers remarks aboard the Battleship USS Iowa Museum on June 10, 2022 in Los Angeles, California. Mario Tama | Getty Images Nearly a third of logistics managers at major companies and trade groups say they do not know how much trade they would return to the West Coast once an International Longshore and Warehouse Union, or ILWU, labor deal is reached, according to CNBC’s supply chain survey. Eighteen percent of respondents…

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GTRI Suggests Seven Steps For Traders To Fully Utilise Indo-Australian FTA

In order to fully benefit from the recently implemented free trade agreement, Indian traders should adhere to seven procedures, including being aware of Australia’s trade policies and laws of origin for their specific products, says a study by Global Trade Research Initiative (GTRI). The India-Australia Economic Cooperation and Trade Agreement (ECTA) offers many concessions to exporters and importers of both countries, according to the GTRI, but the concessions are product-specific, so businesses must determine whether their products benefit from the agreement. To make sure the businesses do not overlook important…

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Most supply chain managers expect problems to continue at least through 2024

Bloomberg | Bloomberg | Getty Images More than half of logistics managers at major companies and trade groups say they do not expect the supply chain to return to normal until 2024 or after, according to a new CNBC survey. Sixty-one percent of respondents said their current supply chain is not operating normally, compared with 32% that said it is functioning normally. When questioned when they see a return to normalcy, 22% were unsure, 19% said 2023, and 30% said 2024. Another 29% said in or after 2025, or never.…

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India’s Exports Witness Modest Growth At $32 Bn In November

“Merchandise imports in November 2022 were USD 55.88 billion, as compared to USD 53.03 billion in November 2021,” as per the data After registering a sharp contraction in October, India’s merchandise exports recorded modest growth in November 2022, according to the data released by the Ministry of Commerce and Industry. After contracting 16.7 per cent year on year (YoY) to USD 29.8 billion in October, merchandise exports last month were USD 31.99 billion as compared to USD 31.80 billion in November 2021. “Merchandise imports in November 2022 were USD 55.88…

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Indo-Australian Trade Pact Major Milestone For Bolstering Ties: Envoy

Rowan Ainsworth, the Australian consul general in Kolkata on Wednesday said that the India-Australia Economic Cooperation and Trade Agreement is the most strategic agreement between the two countries that will strengthen bilateral ties which were signed in April of this year. While speaking at an interactive session hosted by the Engineering Exports Promotion Council (EEPC) and Indo-Australian Chamber of Commerce (IACC) Ainsworth said the deal will give Indian goods priority market access in Australia. According to the pact, India needs to remove 96 tariff lines for goods imported from Australia,…

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