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Subscribe to enjoy similar stories.At a gathering of academics and policymakers at Harvard this month, a participant reminded me that I had published a column 15 years ago on ‘The Manufacturing Imperative.’ As the title suggests, the piece emphasized the importance of industrialization in driving economic growth, creating good jobs, and building a middle class. “This is one of my all-time favourite articles,” the policymaker from Africa told the audience.There is scarcely a greater reward for a scholar than having his ideas resonate strongly with the people for whom he writes.

Subscribe to enjoy similar stories.A man’s body, hands bound and covered by a blue tarp, lies by the side of the road where it had been dumped minutes earlier. A blood-soaked sign says he was a “Chapito,” a member of one of two criminal factions fighting for control of this city, the cradle of Mexico’s transnational narcotics industry.Such macabre finds are common in Culiacán—a city of luxury car dealerships, fancy malls, and makeshift fentanyl labs—marking the shifting lines of nearly two years of relentless civil war between the two main clans of the pioneering Sinaloa cartel.It’s a war that the Chapitos, the heirs of Mexican drug boss Joaquín “El Chapo” Guzmán, appear to be losing, casting doubt on the future of a dynasty that once ruled vast swaths of the criminal underworld on its way to becoming the world’s top producer and smuggler of fentanyl.The latest blow came last month with the U.S.

Subscribe to enjoy similar stories.AMERICANS ARE not famous for their love of vegetables. The staples of American cuisine are starchy, cheesy and heavy on meat. One vegetable, though, sneaks into everything: the tomato.

Subscribe to enjoy similar stories.President Trump’s threat to raise tariffs on European cars is a warning for investors and U.S. trading partners that the Iran war hasn’t dissuaded him from his trade agenda or his willingness to strong-arm allies through economic pressure.Trump said Friday that the U.S. would increase tariffs on European cars and trucks to 25% from the 15% level that was agreed to as part of a preliminary trade deal last summer.

Subscribe to enjoy similar stories.Sun Pharma would appear to have got itself a sweet deal when it agreed to acquire all outstanding shares of US-based Organon for $3.7 billion in cash at $14 per share.The US pharma company had outstanding debt of $8.6 billion at the end of 2025, annual sales of $6.2 billion and adjusted Ebitda of $1.9 billion (i.e., earnings before interest, taxes, depreciation and amortization). Its enterprise value of $11.75 billion, as widely reported, is the sum of its stock value and debt, less cash on hand.

Subscribe to enjoy similar stories.NEW DELHI: India’s avocado demand is surging, but domestic supply is still playing catch-up, keeping the country reliant on imports even as local cultivation expands.Government data show imports have more than tripled in two years, rising to $42.27 million in FY26 (till February), from about $27 million in FY25 and $13.5 million in FY24. Domestic output, meanwhile, has increased more gradually—from about 6,000 tonnes in 2023 to around 9,000 tonnes in 2026, experts said.The mismatch highlights a widening gap: rising health-driven consumption is outpacing India’s nascent production base, forcing the market to lean on overseas suppliers even as farmers begin to scale up planting.The area under avocado cultivation has expanded over the years, with farmers in Karnataka, Kerala, Tamil Nadu, Sikkim and parts of Maharashtra responding to growing urban demand.

Subscribe to enjoy similar stories.SÃO PAULO—A Brazilian gang founded in the country’s violent prisons is fast becoming one of the world’s biggest criminal organizations, reshaping global cocaine flows from South America to Europe’s busiest ports and edging into the U.S.Long under Washington’s radar, the First Capital Command, known by its Portuguese initials PCC, started out as a disgruntled band of inmates fighting for soap and toilet paper in the 1990s.It now has some 40,000 members behind bars and on the streets with a vast network of affiliates—making it the largest criminal group in the Americas by some estimates, operating in nearly 30 countries on every continent except Antarctica.“The PCC has become a truly transnational group,” said Lincoln Gakiya, Brazil’s top PCC prosecutor, who has tracked its rise for two decades. “I believe it is now the fastest-growing criminal organization in the world.”With the scale of Italian organized criminal groups and the efficiency of a multinational corporation, the PCC has helped drive record cocaine seizures in Europe and sparked violent turf wars in the heart of major ports in Belgium and the Netherlands.Prosecutors and police in Brazil are calling on President Trump to label the PCC a Foreign Terrorist Organization, joining more than a dozen other Latin criminal networks.The PCC is organized crime at its most organized, prosecutors say.Unlike the narco-tycoons of Mexico, the heavily armed Colombian cocaine militias or the flashy drug lords of Rio de Janeiro’s Red Command gang, PCC members keep a low, businesslike profile, seeking fortune not fame—and shying away from the kinds of gratuitous violence that attract police and TV news crews.

Subscribe to enjoy similar stories.Indian automakers are beginning to feel the operational strain of the West Asia conflict, with companies flagging supply bottlenecks, longer shipping times and rising costs, even as domestic demand remains resilient.Early signals from industry executives suggest the impact is weighing far more on supply chains than on demand, which has so far held up. The spillover is beginning to feed into production and exports, pushing up costs that companies are gradually passing on to consumers.At the centre of the strain is the Strait of Hormuz, a key maritime chokepoint that has seen vessel movement fall sharply amid repeated disruptions.

Subscribe to enjoy similar stories.Explorers have dreamed of harvesting deep-sea metals since the 1870s, when the British scientific ship HMS Challenger pulled up mineral-laden rocks on its round-the-world voyage.The first commercial effort to exploit these riches failed a century later. In 1970, a U.S.

On most days in Bengaluru, Bert Mueller could pass unnoticed, except for the auto, which is bright red and unmistakable. Mueller, an American who moved to India in his early 20s, often drives the three-wheeler around Indiranagar, where he lives.

trade deficit and high gold imports.The impact of the war-led disruptions—built on top of the calibrated depreciation—pushed the rupee towards a level not previously anticipated. Even then, economists believe that the RBI should not defend the rupee too much as it may provide temporary relief, but could stoke sharper depreciation later."If this is a long-drawn-out crisis, you want to preserve your forex reserves because when we got into trouble in 2013, our reserves went down, then the taper tantrum made it worse," said Gaura Sengupta, chief economist at IDFCFirst Bank.Forex reserves declined 3.4% and 0.6% in FY12 and FY13, but failed to arrest the rupee’s decline.

The US government’s trade lawyers are working overtime. So what if the work in question requires more imagination than it does expertise?Over the past fortnight, investigations into 16 countries for supposed manufacturing “excess capacity” have been launched under Section 301 of the 1974 Trade Act. The office of US Trade Representative (USTR) Jamieson Greer also announced that similar probes would begin into forced labour practices in 60 countries.

NEW DELHI: India’s steadily rising mobile phone exports, which generated $11 billion in revenue in the first six months of the current fiscal, are expected to take a multi-billion-dollar hit as a result of a prolonged impact of the Iran war on consumption, imports and freight transit in the Gulf region.Executives, analysts and brokerage firms estimate a loss of $2 billion-3 billion on India’s electronics exports, largely because electronics manufacturing services (EMS) companies export a sizeable quantity of mobile phones to the Gulf area—a key trade and consumption hub.Mobile phones are among the top five most-impacted commodities as a result of the Gulf nations and the West Asia region being directly affected in Israel and the US’s war on Iran, analysts Suvodeep Rakshit and Swarupjit Palit at brokerage firm Kotak Institutional Equities wrote in a note to investors on 6 March.The analysts cited India’s commerce ministry data to say that mobile phone exports to the Gulf and West Asia rose to $3.1 billion in FY25, accounting for 12% of the country’s net electronics exports. This entire chunk may be affected and EMS companies that rely significantly on mobile phone manufacturing may be substantially hit, at least in the current quarter and next.If the conflict continues, the entire $3 billion in export value may be wiped off in the next fiscal year, the Kotak analysts said.

The Estée Lauder Companies has signed an agreement to acquire the stake it doesn’t already own in Indian luxury beauty company Forest Essentials, with the transaction expected to close in the second half of 2026, said Stéphane de La Faverie, president and chief executive officer of The Estée Lauder Companies.The deal completes an 18-year partnership with the luxury Ayurveda brand, which was founded by Mira Kulkarni.Forest Essentials sells Ayurvedic skincare and haircare products and competes with premium labels such as Kama Ayurveda. Estée Lauder had a 49% stake in the company in 2013, which it increased from a 20% stake it took in 2008.Speaking to Mint, La Faverie, said, “Today, this brand is the leader in prestige skincare in India, which is still a very small segment of the larger beauty business in India.

Subscribe to enjoy similar stories. MEXICO CITY—For many drug-enforcement officials in North America, there was one cartel boss who was too big and too dangerous to ever try to take down—Nemesio “El Mencho" Oseguera, the head of the Jalisco New Generation Cartel.

Subscribe to enjoy similar stories. For a few minutes after the Supreme Court struck down President Trump’s signature tariffs Friday, Ethan Allen Chief Executive Farooq Kathwari felt a jolt of relief. Then a jumble of emails from colleagues began pouring in.

Subscribe to enjoy similar stories. The Supreme Court’s decision overturning President Trump’s use of emergency powers to impose tariffs on imports isn’t the game-changer for international trade that it might appear to be at first. In Asia, Europe and the Americas, governments don’t expect Trump to abandon his favorite tool of economic policy, despite the legal setback.

Subscribe to enjoy similar stories. President Trump still has three years left in office. Yet the Supreme Court’s ruling Friday that most of his tariffs are illegal has given the world a glimpse of U.S.

Subscribe to enjoy similar stories. PITY THE young, for the world is run by old men. President Donald Trump (79) and China’s ruler, Xi Jinping (72), talk a good game about AI, robots and other futuristic marvels.

Subscribe to enjoy similar stories. Daily life in Cuba is grinding to a halt under a U.S. campaign to block the island’s oil imports, drawing international criticism that the Trump administration is pushing the island toward a humanitarian crisis with no clear endgame.

Subscribe to enjoy similar stories. NEW DELHI : India’s top two-wheeler makers, Bajaj Auto Ltd, TVS Motor Company Ltd and Hero MotoCorp Ltd, say deeper localization and flexible manufacturing will help them blunt the impact of higher tariffs in Mexico, India’s largest two-wheeler export market by value. Senior management at the three listed companies assured investors that exports to Mexico would not face material disruption, citing local assembly arrangements and the ability to shift production across geographies if required.