May 19, 2020

Maruti Suzuki increasing African Exports

Johannesburg
Procurement
Smart Procurement World
Bizclik Editor
2 min
Maruti Suzuki increasing African Exports

Written by Ella Copeland

Automobile manufacturer Maruti Suzuki is planning to boost exports of petrol-fuelled models to Africa, after a fall in sales in their home country of India.

As petrol prices soar, there has been a decrease in the sale of petroleum-fuelled models in India, resulting in the manufacturer aiming to export to the potentially lucrative petroleum markets in South East Asia and Africa.

Maruti’s Chief Financial Officer Ajay Seth told Bloomberg: “Markets such as Africa are seeing high growth and demand for our cars. Most of the markets we are looking to export to are mainly petrol markets.”

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Sales of petrol-fuelled engines have declined in India, where Maruti is currently utilising a disappointing 70 percent of its 880,000 petroleum-fuelled cars capacity. This decrease is following the relaxation of government control over petrol prices, which have seen a price increase of 41 percent, while diesel prices, which are still under government control, has only risen 8.4 percent.

The African market for cars powered by conventional fuels may be narrowing in South Africa soon, however, with the introduction of carbon tax for passenger vehicles this month.

The South African government plan to place a carbon tax on commercial and light vehicles as part of their carbon emission reductions for the Copenhagen Accord, where South Africa is committed to reduce its greenhouse gas emissions 34 percent by 2020.

In addition to the number of hybrid vehicles in South Africa, car manufacturers such as Ford South Africa are also assisting the research and development of more environmentally-friendly biofuels.

Researchers are working at the University of Stellenbosch to create a fuel which does not corrode or damage car engines. These biofuels are created from hydrocarbons and food oils, which emit fewer dangerous gases into the atmosphere.

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Jun 11, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
Sustainability
G7Summit
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve, in terms of sustainability and global trade

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

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