May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

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May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

The National Agency for Food & Drug Administration & Control (NAFDAC) has expressed strong support for the efforts by Sanofi, a multinational healthcare company, to manufacture some of its life-saving drugs locally.

L-R: Executive Secretary, Pharmaceutical Manufacturers Group of the Manufacturing Association of Nigeria (PMG-MAN), Pharm. Frank Muonemeh; Managing Director, May & Baker Nigeria Plc, Nnamdi Okafor; General Manager Rx and Country Chair, Sanofi Nigeria-Ghana, Pharm. Folake Odediran; President, Pharmaceutical Society of Nigeria, Mazi Sam Ohuabunwa and Director, Registration Regulatory Affairs Directorate, NAEDAC, Dr. Monica Eimunjeze, at the official signing ceremony in Lagos.

The company, on Wednesday (November 27), signed an agreement with a Nigerian pharmaceutical manufacturing company, May and Baker, to produce a range of its drugs in the country.

L-R: Executive Secretary, Pharmaceutical Manufacturers Group of the Manufacturing Association of Nigeria (PMG-MAN), Pharm. Frank Muonemeh; General Manager Rx and Country Chair, Sanofi Nigeria-Ghana, Pharm. Folake Odediran; Pharmaceutical Society of Nigeria, Mazi Sam Ohuabunwa; Managing Director, May & Baker Nigeria Plc, Nnamdi Okafor; President; Director, Registration Regulatory Affairs Directorate, NAEDAC, Dr. Monica Eimunjeze; President. Nigerian Representatives of Overseas Pharmaceutical Manufacturers (NIROPHARM), Pharm. Femi Soremekun; Sanofi Africa Head of Supply Chain, Valeria Saviano and Vice-President, NIROPHARM, Mr. Sammy Ogunjimi at the event.

Speaking at the contract signing ceremony in Lagos, the Director-General of NAFDAC, Prof. Mojisola Adeyeyedescribed the occasion as a special day for Nigeria, the Pharmaceutical Society of Nigeria (PSN) and all technical arms of PSN which have kept advocating for sourcing of Nigeria’s drug needs to be domiciled locally. She commended the two companies for taking the giant steps to provide made-in-Nigeria medicines that are of safe, effective and of high-quality standards.

The DG-NAFDAC, who was represented by the Director, Registration & Regulatory Directorate, Dr. Monica Eimunjeze, recalled that one of the plans of the Africa Union (AU) under the Lead Partnership for Africa’s Development, is a pharmaceutical manufacturing plan for Africa, to which Nigeria is a signatory. The plan recommends that Africa manufactures and produces medicines for Africa.

“NAFDAC is very proud when we stand with Sanofi, May&Baker, anyone or company that propagates high quality and safe medicines. We are even prouder when these medicines are manufactured in Nigeria. We expect to see more of this kind of partnership and more locally-manufactured medicines that meet global quality standards.“This partnership speaks to that because Sanofi will not allow its products to be manufactured in a factory that it does not feel comfortable that it has not met or attained the global standard,” the NAFDAC DG said.

The President, Pharmaceutical Society of Nigeria (PSN), Mazi Sam Ohuabunwa who chaired the occasion, noted that Nigeria had since 1995 adopted a policy to manufacture at least 70% of its essential medicines locally. He commended Sanofi and May & Baker for taking the initiative and called on more companies to join the train.

“We should not deceive ourselves to think that we can have every product manufactured locally, we don’t have the technology, the capacity and the resources. But we can begin to do something and work towards the target set by stakeholders at a roundtable held last year that 50% of our essential medicines be produced locally by 2020”.

In her speech, the General Manager Rx and Country Chair Sanofi Nigeria-Ghana, Pharm Folake Odediran drew attention to the Federal Government’s policy to ensure national drug security through self-sufficiency in the supply of essential medicines.

“At Sanofi, we understand that local sourcing of essential medicines is central to achieving the government’s objectives. We remain committed to this noble aspiration. Today, the formal signing of a manufacturing agreement with May & Baker Nigeria Plc is proof of our commitment to localization. We will continue to contribute our quota towards availability of very efficacious, high-quality made-in-Nigeria medicines”

“Building a strategic partnership with May & Baker Nigeria Plc to support our local manufacturing ambitions is based on its (M&B) rich history of producing high-quality medicines in Nigeria. It also follows a rigorous due-diligence exercise and successful compliance outcomes in line with local laws and our global policies,” Odediran further explained.

Also speaking at the event, the Managing Director/CEO of May & Baker Nigeria Plc, Mr. Nnamdi Okafor described the event as a formal ceremony because the two companies had been working together for many years. “We began this collaboration with two products but today Sanofi has increased the number to five, an indication that the partnership is working. And I make bold to assure them they will be impressed enough to increase the basket of products to be manufactured by us,” he said.

Okafor said May & Baker now has the largest pharmaceutical facilities in the West African sub-region, the May & Baker Pharmacentre, which was commissioned in 2011 and GMP-certified by the World Health Organisation (WHO) in 2014.

“It was an expensive and challenging project but looking at the industry today and the number of similar projects that dot the pharmaceutical manufacturing landscape, we feel justified for taking the bold step.

“The Centre offers other services such as product formulation and consultancy in quality assurance.   The capacity of the Pharmacentre remains underutilized and our doors are open to accommodate other international brands that will like to heed the call for localization of production,” he further said.

The event was also attended by the President, Nigerian Representatives of Overseas Pharmaceutical Manufacturers (NIROPHARM), Mr. Femi Soremekun and the Executive Secretary, Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN), Mr. Frank Muonemeh. Both men, who are association leaders in the pharmaceutical industry, independently expressed satisfaction that their commitment to local production of medicines in Nigeria has become a reality.

Other dignitaries at the event were Valeria Saviano, Director, Supply Chain Sanofi Africa, representatives of the Nigeria Customs Service and heads of pharmaceutical businesses in Nigeria.

Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

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Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

International hospitality group BON Hotels says it plans to open over 22 hotels in Nigeria’s major cities and secondary towns over the next few years, with the first batch set to open in Kano, Ibadan, Warri, Asaba and Port Harcourt within the next four months.

In a statement this week, BON Hotels, which currently has 10 operational hotels in the West African country, said new developments were set for major city routes, the northern regions and the old Trade Route in the south and would be targeted not only at local and international business travellers, but also leisure guests.

It said Nigeria’s tourism landscape had long been dominated by business travellers, many of whom stayed in traditional, multinational hotels with a run-of-the-mill approach to hospitality, offering the group an opportunity to acquire a previously struggling 28-roomed boutique hotel in Abuja in 2015 and transform it into a flourishing business-focused space with conferencing facilities.

The country’s hospitality previously also focused on major cities like Lagos and Abuja, ignoring the potential of venturing into smaller ones and resulting in limited options for travellers.

“Our ethos has always been to add value, create tourism circuits, and expand the hospitality sector into all regions holistically and, in so doing, extract value,” BON Hotels executive director for International West Africa Bernard Cassar said.

BON now operates 16 hotels across Africa, including Ethiopia, Namibia and South Africa. It’s West African arm, BON Hotels International West Africa, oversees the operations and management of hotels throughout Nigeria.

Borno, Egypt to collaborate on improving healthcare, education and irrigation in the state (Photos)

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Borno, Egypt to collaborate on improving healthcare, education and irrigation in the state (Photos)

Borno State will work with the Egyptian Government for developmental collaborations on improving healthcare, education and irrigation in the State.

This was the outcome of a meeting between Governor Babagana Umara Zulum and the Egyptian Ambassador to Nigeria, Assem Hanafi Elseify who earlier paid a visit to Governor Zulum at the Borno State Governor’s Lodge, Abuja.

The two leaders discussed a positive partnership with a major aim to improve medical institutions, enhance irrigation agriculture and education.

Sound Sultan Urges Entertainers To Use Their Platforms To Speak Against Corruption, Internet Fraud

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Sound Sultan Urges Entertainers To Use Their Platforms To Speak Against Corruption, Internet Fraud

Nigerian music celebrity, Olanrenwaju Fasasi, popularly known as Sound Sultan, has urged actors in the Nigerian entertainment industry to contribute their quota in the fight against corruption and internet fraud by using their platforms to speak out against the twin evils.

Sound Sultan made the call over the weekend in Lagos, in a media chat with Sani Emmanuel of the Media and Publicity Unit of the Economic and Financial Crimes Commission, EFCC.

He noted that music was a powerful instrument of sensitization and change, which should be channelled to the benefit of society, such as educating the youth on the dangers of corruption and internet fraud.

“When I started as a musician, I wanted to be a kind of mouthpiece that when you listen to my music it will hit you with my message and even if you are dancing to it, it will still make sense to you,” he said.

He decried the rise in internet fraud in the country, saying its increasing attraction to the youth has taken an alarming dimension. He, however, sees the twin development of internet fraud and economic crimes as consequences of past corrupt leaderships in the country as well as the lowering of societal moral standards.

According to him, “The Yahoo boys are products of corrupt leadership in the country. I don’t like talking about the cause of this situation without talking about history. I think Yahoo boys learnt from the corrupt leaders and they honed their skills from them before they start to perpetrate the crimes.”

While praising the EFCC for its efforts at tackling corruption in the country, the musician regretted that fraud and corruption have so much degraded moral values in the country to the extent that Nigerians now openly celebrate corrupt and dishonest people for their ill-gotten wealth.

Deloitte Predicts ‘Japanification’ Of Banking In 2020s

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Deloitte Predicts ‘Japanification’ Of Banking In 2020s

Leaders of banks need to look beyond banking in anticipation of disruption to their industry in the next decade, according to Deloitte.

In its ‘2020 banking and capital markets outlook’ report, the Big Four firm highlights its forecasts for financial services in the next year and beyond.

Deloitte’s broad prediction for the next decade is that of a consolidated industry with fewer banks existing in ten years’ time. Fintechs will become mainstream players while the incumbents will adjust their strategies to compete.

The report refers to the possibility of ‘Japanification’ – long-term stagnation, low inflation or deflation and near-zero or negative interest rates – occurring across numerous economies, particularly Europe, which would hamper the growth potential and profitability in the banking sector.

Deloitte believes this could seriously challenge banks that lack the scale or a differentiated offering. They, therefore, need to “reimagine the possibilities for how banking is done,” forming new partnerships and alliances to offer services that will extend beyond banking.

Harnessing the data that they are sitting on, Deloitte believes banks can fine-tune their value proposition and continue to own the customer relationship. Deloitte offers its outlook for the next decade across an array of other areas that financial services firms should have their eye on.

Regulation

Signs of an economic slowdown in 2018-19 resulted in countries’ regulatory standards diverging, bucking the post-2008 synchronisation trend.

Should Japanification set in in a big way, this may be a trend that will continue, with agencies pushing for tailored regulatory requirements to suit size and complexity of operations.

The next decade will also see fintechs becoming mainstream and so the issues of regulation will escalate. Innovators desire the protection of regulation, but not to the extent that it stifles creativity.

Technology

Banks will need to overcome the burden of legacy systems in the years ahead to unlock the potentials of AI and cloud, harness the power of data and move from product-centric to customer-centric business models.

As consumers’ digital footprints grow, so does the reservoir of data that banks can tap into though this will bring with it complications of data management and privacy concerns.

Risk

Banks’ abilities to assess and mitigate risk is likely to be tested in the decade ahead, as regulatory divergence, geopolitical instability and a potential economic downturn create a host of challenges.

While new technologies are likely to be prominent in this area, they bring with them risks of their own. Relationships with third-party providers could open chinks in the armour of banks’ cyber defences, while biases and rogue programs could compromise the reliability of AI engines.

Talent

Eight per cent of financial institutions admit they are less than effective at developing leaders that can keep up with the changing nature of work.

Deloitte believes the leaders who will define the next decade are those that have tech fluency, strong interpersonal skills and can inspire change with an innovative, forward-looking vision, as well as being able to empower a diverse payroll of hot-desking and remote working.

Retail banking

Products need to offer a holistic focus on customers’ financial affairs, bringing on board lending, payments and wealth management services.

Providers should prioritise customer experience through connectivity to other apps and making advice “contextual and realtime”.

Payments

The payments industry will become more competitive, with value-added services – purchasing insights, identity protection, cash management – becoming prominent.

Digital currencies are also expected to become the norm, particularly if backed by regulatory tailwinds.

Wealth management

Human advisors are unlikely to be replaced by robots in the decade ahead, especially when it comes to serving the high-net-worth (HNW) and ultra-high-net-worth (UHNW) segments.

Wealthtechs are likely to partner with incumbents to provide hybrid offerings, harnessing the best of digital and human-led services.

Investment banking

This sector is likely to become fragmented further with a small number of, largely American, banks dominating the global market while smaller players focus on local markets.

AI and blockchain could become integral to investment banking, in the operation of capital markets and tailoring client insights.

Transaction and corporate banking

These are both areas where emerging technologies including cloud, 5G and quantum computing will become increasingly common.

Banks should harness these alongside AI and blockchain to own the advisory role as clients will increasingly look to mitigate against political or environmental risk and ensure digital assets.

Airtel Announces Commencement Of ‘Five Days Of Love’ Annual Initiative

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Airtel Announces Commencement Of ‘Five Days Of Love’ Annual Initiative

Leading telecommunications services provider, Airtel Nigeria, has announced the commencement of its annual Christmas feeding programme dubbed ‘Airtel Five Days of Love.’

The initiative is designed to identify with less privileged persons as well as support the downtrodden in communities where Airtel operates.

Since the commencement of the initiative five years ago, Airtel has partnered with leading Fast Food vendors to feed over 20,000 Nigerians in an exciting and fun-filled atmosphere.

The 2019 programme, according to Airtel, will be held across five major cities and will kick off at the Oshodi Local Government Secretariat on Monday, 9th December 2019, beginning from 11.00 am and will thereafter move to Abeokuta, Ogun State, on Tuesday, 10th December.

On Wednesday, 11th December, over 1,000 underprivileged persons will be fed in Onitsha, Anambra State while Karu in Nasarawa and Maiduguri in Borno will also host the Airtel ‘Five Days of Love’ goodie train on Thursday, 12th December and Friday, 13th December, respectively.

Through the ‘Five Days of Love’ programme, Airtel says it is sharing the reason for the season – love – and celebrating with the underprivileged by providing quality, hot meals amidst an electrifying atmosphere of fun, good entertainment and love.

Commenting on the initiative, the telco noted that it is committed to touching the lives of underprivileged persons in the society as well as empowering stakeholders in the communities where it operates.

“As a critical stakeholder in the Nigerian society, Airtel is passionate about uplifting the less privileged and providing support for the vulnerable as this aligns with our overall CSR theme of touching lives and improving the standard of living of the less privileged.”

“Brands Can Now Advertise on Jumia’s Platforms to Reach a Wider, More Targeted Audience”- Martins

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“Brands Can Now Advertise on Jumia’s Platforms to Reach a Wider, More Targeted Audience”- Martins

Nigeria’s leading e-commerce platform, Jumia, has opened up its e-commerce platform to brands and corporate organisations to advertise. 

The company’s Head of Growth & Partnerships, Olusegun Martins who made the disclosure recently during an exclusive interview with MARKETING EDGE, said: “Our platform is one of the most visited in Nigeria and Africa. We are in 12 countries of Africa, and in each country, we serve consumers absolutely everywhere. We are much more than “e-commerce”, we have hotels, flights, restaurants, classifieds portals, and many more platforms, which give us even more data and more ability to target the right audience for brands looking to reach a wider and more targeted audience.”

In 2018, page views on the Jumia website reached over 700 million, but now averaging over 90 million views per month.

“We have bespoke solutions for various needs. We can help brands build awareness, consideration, engagement, sales, even multiple products to tap into. We can segment users in a very unique way based on their real shopping interest at the most granular level. We help brands to target users geographically in the most effective way. We have run very successful campaigns in multiple countries and advertisers who choose Jumia can decide to allocate recurring budgets to our platform,” Martins continued.

Martins further disclosed that Jumia digital advertising platform is growing very fast. Every day, more users access Jumia and use it as a source of research, inspiration and shopping. “No other platform is growing faster,” he said. 

Its campaign reporting tools are objective and independent. Jumia is adapting the model of the leading e-commerce platform in the US, Amazon.

“We have an online shopping audience. Amazon Advertising is growing very fast because brands and advertisers see it as a great alternative for other advertising channels,” he added.

Martins informed that the decision by Jumia to veer into the advertising business space arose out of the popular demand by various customers of the company who had long been yearning to have an advertising platform owned by Jumia to expose their services and brands.

According to him, over the last seven years, Jumia had remained one of the top 10 most visible websites in Nigeria, adding that the clamour by customers for an advertising platform from Jumia was on the increase, hence the decision by the company to give it a try this year.

“We decided to open our platform starting from last month (October). There is a huge opportunity for brands to showcase their services and products to our audience and that is why we opened our platform. The way we want the brands to look at it is to think of Jumia as a search engine. The perception is that people come to Jumia to buy only. This is not entirely the case. A large chunk of people that come to Jumia come to make informed decisions; at that point when they are searching, their minds are receptive to whatever communication is available.  So, people need to look at Jumia as a search engine,” Martins said.

Throwing further light on who is the target audience for the new advertising platform, the Jumia boss observed that every brand that aims to reach Nigerians was a possible target.

According to him, Jumia has already established a close working relationship with a few strategic agencies who have indicated long term interests in partnering with the company over the new advertising platform.

Martins continued: “We have always made it possible for sellers on Jumia to be able to advertise and all our vendors know this. But over the last couple of years, we have been getting inquiries from banks, insurance companies, telcos and different sectors of brands who don’t necessarily sell on Jumia but are interested in reaching their targets by placing an Ad on our platform.

We want to enable brands to reach out to people we call “quality audience” because the people that are coming to shop on Jumia are not just there to look around. They are at an advanced stage of the purchase funnel. They are in an active mode of purchase and at that point in time, they are receptive to communication.”

In Its Centenary Year, British Airways Is Named Airline Of The Year At Prestigious Global Airline Awards

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In Its Centenary Year, British Airways Is Named Airline Of The Year At Prestigious Global Airline Awards

British Airways has been named Airline of the Year at one of the aviation industry’s most prestigious award ceremonies. 

CAPA’s annual Global Aviation Awards for Excellence was held in Malta yesterday evening (December 5, 2019).

CAPA – Centre for Aviation, is one of the world’s most trusted sources of market intelligence for the aviation and travel industry.

Judges awarded British Airways the headline title of the night in recognition of its continuing commitment to innovation, investment in new aircraft, renewal of its existing cabins so that they look and feel new, its new and redesigned lounges, new dining across all cabins, new bedding and amenity kits, industry-leading, streaming onboard WiFi and access to power at every aircraft seat.

Speaking at the event, CAPA Chairman Emeritus Peter Harbison said: “British Airways was famously the world’s favourite airline in the 1990s and it has taken some tough decisions to maintain its market position against increasing competition. Under the leadership of CEO and Chairman Alex Cruz, British Airways has not been afraid to adopt new ticketing practices, service levels and is now among the frontrunners of distribution change and technology adoption – at the same time as achieving an industry-leading ROIC. It is certainly “100 not out” for one of the world’s most famous airline brands.”  

British Airways’ Chairman and CEO Alex Cruz said: “On behalf of everyone at British Airways, we are truly honoured to accept this award. In this, our centenary year, we have much to celebrate from our past and much to look forward to for the future. We pioneered the first commercial passenger flight as Air Transport and Travel Limited starting with just one route to Paris. Since then, we have lead from the front, introducing innovative products such as the first lie-flat Business Class seat, operating the first jet-engine aircraft across the Atlantic, and flying customers at twice the speed of sound on Concorde.  

“We’re now transforming British Airways so we are fit for the future. We are investing £6.5 billion in new, more efficient aircraft, introducing new products, innovating with technology and we are committed to net zero emissions by 2050. British Airways has a proud history of taking Britain to the world and bringing the world to Britain, and that is set to continue for years to come.” 

Other airline winners included airBaltic (Regional Airline of the Year), LOT (AirlineTurnaround of the Year) and Spirit Airlines (Low-cost Airline of the Year).

Trend Micro Debuts World’s Broadest Security Services Platform for Organizations Building Applications in the Cloud

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Trend Micro Debuts World’s Broadest Security Services Platform for Organizations Building Applications in the Cloud

Trend Micro Cloud One automates and simplifies cloud security to give organizations the flexibility they need to meet their most strategic cloud priorities

 

HONG KONG, CHINA – Media OutReach – December 6, 2019 – Trend Micro Incorporated ( TYO: 4704 ; TSE: 4704 ), a global leader in cybersecurity solutions, today
announced the launch of Trend Micro Cloud One™, a security services platform
for organizations building applications in the cloud. Cloud One allows developers to rapidly build applications using
the cloud services they want, while managing their organization’s risk.

 

Cloud One delivers the industry’s broadest
range of security capabilities in a single platform. Designed to help
organizations meet their most strategic cloud priorities, it allows customers
to migrate existing applications to the cloud, deliver new cloud-native
applications and achieve cloud operational excellence.

 

The first-of-its-kind platform has the
flexibility to solve immediate customer challenges and the innovation to
rapidly evolve with cloud services. At its heart, Cloud One includes the
world’s leading workload security service that is already in use by thousands
of organizations. It is complemented by enhanced container security and
brand-new offerings for application security, network security, file storage
security and cloud security posture management to ensure cloud infrastructure
is optimally configured.

 

Many cloud security solutions are often hard
to manage and deploy, inflexible and fail to provide the level of visibility IT
teams need to manage fast-emerging risks.

 

Trend Micro’s all-in-one platform approach is
designed to deliver simplified, automated and flexible protection, regardless
of where an organization is on the journey to the cloud. Customers using the
platform will benefit from a single-sign-on to all services, common user and
cloud-service enrolment, visibility from a single console and a common pricing
and billing model.

 

“We
have been helping our customers with secure cloud transformation since the birth of the cloud, over a decade ago,” said Wendy Moore, vice president of product marketing for
Trend Micro. “Customers have a mix of legacy servers, virtualized data
centers and newer services such as containers and serverless applications, and
all of which can be protected using Cloud One.”

 

Trend Micro’s new cloud security platform
supports the leading cloud providers, including Amazon Web Services ( AWS), Microsoft Azure and Google Cloud.

 

“As
more companies move their infrastructure and applications to the cloud, and
adopt a shared responsibility model, we want our customers to have the option
of the broadest choice from the best products in the market, ” said Dave
McCann, Vice President, AWS Migration, Marketplace and Control Services at
Amazon Web Services, Inc. “Trend Micro’s new cloud security platform represents
another example of new innovation, that is available via AWS Marketplace. By
leveraging AWS Marketplace features like SaaS Contract API, Private Offers, and
Consulting Partner Private Offers, customers can contract directly from Trend
Micro, or their consulting partners around the world. We are committed to
empowering our shared customers with easy and fast procurement and
provisioning.”

 

Organizations like Armor in Dallas, Texas,
are relying on Trend Micro for strategic cloud security.  

 

“As a security-as-a-service provider, we need to deliver on the
security and compliance outcomes our customers demand of Armor.  We need powerful, scalable
security tools which easily integrate into Armor’s cloud security product,
Armor Anywhere, to protect our customers’ constantly evolving multi-cloud and
virtual environments,” said Josh Bosquez,  CTO for Armor. “Our
company’s primary goal is to provide security in a dynamic
multi-cloud world. We leverage Trend Micro to help us deliver that vision
and promise to our customers.”

By considering cloud projects and objectives
holistically, Trend Micro Cloud One is able to provide enterprise grade
security, while leveraging the benefits and efficiencies of the cloud.

The
Cloud One platform will be available in Q1 2020 with three services fully
integrated: workload security, network security and application security. The
other components will be available as stand-alone solutions in Q1 2020 and
integrated into Cloud One by the end of 2020.

 

  • Trend Micro Cloud One —
    Workload Security
  • Trend Micro Cloud One —
    Container Image Security
  • Trend Micro Cloud One — File
    Storage Security

  • Trend Micro Cloud One   — Network Security

  • Trend Micro Cloud One —
    Cloud Posture Management

  • Trend Micro Cloud One —
    Application Security

To find out more about Cloud One, please visit
https://www.trendmicro.com/cloudone .

About Trend Micro

Trend Micro
Incorporated, a global leader in cybersecurity solutions, helps to make the
world safe for exchanging digital information. Our innovative solutions for
consumers, businesses, and governments provide layered security for data
centers, cloud environments, networks, and endpoints. All our products work
together to seamlessly share threat intelligence and provide a connected threat
defense with centralized visibility and control, enabling better, faster
protection. With more than 6,000 employees in over 50 countries and the world’s
most advanced global threat intelligence, Trend Micro enables organizations to
secure their journey to the cloud. For more information, visit www.trendmicro.com.hk.

India’s trade growth remains buoyant thanks to strong ocean trade

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India’s trade growth remains buoyant thanks to strong ocean trade

  • Ocean imports and exports maintain momentum as
    key industries experience recovery, causing trade growth index to rise
    significantly
  • India is the only country in the Global Trade
    Barometer with a positive trade outlook for the next quarter

MUMBAI, INDIA – Media OutReach – 6 December 2019
– Strong ocean imports
and exports will sustain India’s trade growth over the three-month period
ending in January 2020, making it the only country out of the world’s seven
largest economies with a positive trade outlook according to data from the DHL
Global Trade Barometer released by DHL, the world’s leading logistics company.

The DHL Global Trade Barometer, an early indicator of global
trade developments calculated using Artificial Intelligence and Big Data,
predict mildly positive growth for Indian trade with the country’s Index rising
five points to 54.[1]
The positive outlook is driven primarily by an uptake in ocean imports of Basic
& Industrial Raw Materials and Chemicals & Products, coupled with a
gradual revival in air exports of Consumer Fashion Goods.[2]
In total, ocean trade grew by 10 points, maintaining India’s positive outlook
even as air trade forecasts experience relative weakness.

 “India has the strongest trade
forecast this quarter and the highest index value of all countries in the
latest Global Trade Barometer survey, followed closely by the United Kingdom
and Japan,” said Niki Frank, CEO, DHL Global Forwarding India. “This highlights
the underlying potential of India’s economy, which will benefit from the
government’s plan to invest US$1.39 trillion (€1.26 trillion) in
infrastructure projects. The country’s commitment to establishing itself as a
strategic maritime hub with initiatives and investments in coastal infrastructure appear to be
supporting the Index’s positive ocean trade outlook and will likely also
contribute positively to longer-term trade growth.”

Steady but mild decline negatively affects all
countries, except India


The Barometer’s results also suggest that world trade is
expected to continue at moderate pace but further contract for the next three
months, driven by minor decreases in both air and containerized ocean trade.
Against previous quarters this year, the downward trend in trade growth remains
mostly stable, neither indicating an acceleration of the decline nor a
bottoming out of contractionary movement. All seven nations monitored by the
Barometer received indexes below 50 points except for India, where the
Barometer forecasts moderate growth of five points to 54 points for India. While Japan and the UK had been the only
countries with positive trade outlooks in the previous update in September, the
two countries record the highest losses in this period.

“According
to the DHL Global Trade Barometer the year will probably end with moderate
world trade. However, we’ve to bear in mind where we come from: The rapid
growth world trade has undergone in recent years was like climbing the Mount
Everest. Now, we are on the descent, but we are still breathing altitude air”,
Tim Scharwath, CEO of DHL Global Forwarding, Freight, says. “A countless number
of stable trade relations continues to flourish worldwide, despite smouldering
trade conflicts and geopolitical uncertainties.”

About the Global Trade Barometer


Launched in January 2018, the DHL Global Trade Barometer is
an innovative and unique early indicator for the current state and future
development of global trade. It is based on large amounts of logistics data
that are evaluated with the help of artificial intelligence. The indicator is
published four times a year and the next release date is scheduled for end of
March 2020.

For more information on the DHL Global Trade Barometer,
please visit:  logisticsofthings.dhl/gtb.
The
index is now also available for subscribers of the Bloomberg terminal by using
the code “DHLG <GO>”.

[1]
In the Global Trade
Barometer methodology, an index value above 50 indicates positive growth, while
values below 50 indicate contraction.

[2]
Click here for more
information on the outlook for air freight and ocean freight or the key sectors
in India.

Note to editors:

The proposed Regional Comprehensive Economic Partnership (RCEP) will boost market access to products and capital, and create the world’s largest regional trading bloc that will account for more than 29.1 percent of global trade. Read more about Asia’s next trade pact and its impact on global trade. 


DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL family
of divisions offer an unrivalled portfolio of logistics services ranging from
national and international parcel delivery, e-commerce shipping and fulfillment
solutions, international express, road, air and ocean transport to industrial
supply chain management. With about 380,000 employees in more than 220
countries and territories worldwide, DHL connects people and businesses
securely and reliably, enabling global trade flows. With specialized solutions
for growth markets and industries including technology, life sciences and
healthcare, energy, automotive and retail, a proven commitment to corporate
responsibility and an unrivalled presence in developing markets, DHL is
decisively positioned as “The logistics company for the world”.

DHL is part of
Deutsche Post DHL Group. The Group generated revenues of more than 61 billion
euros in 2018.

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