Global Arms IIndustry

The sales of arms and military services by the SIPRI Top 100—the world’s 100 largest arms-producing and military services companies (excluding China, ranked by their arms sales—totalled $402 billion in 2013.

This is a decrease of 2.0 per cent in real terms compared to Top 100 revenues in 2012, continuing the decline that started in 2011, but at a slower rate. Despite three consecutive years of decreasing sales for the Top 100, total revenues remain 45.5 per cent higher in real terms than for the Top 100 in 200.

North America and Western Europe continue to dominate the global arms industry and comprised 69 of the Top 100 companies for 2013. They accounted for 84.2 per cent of the total arms sales of the Top 100.

Fact Sheet Top100 2013.pdf

Air Freight Demand Increasing - IATA: "Growth in airfreight demand in 2014 supported by increased trade and business activity "

IATA stated year-on-year growth in global FTKs in 2014 was underpinned by improving global trade and stronger business activity. IATA director general and CEO Tony Tyler said overall cargo demand is clearly stronger than in 2013, with Asia Pacific and Middle East carriers benefiting most from improved market conditions.

Mr Tyler said Europe is "still in recovery mode" while the Americas remains a "weak spot."

Asia Pacific growth is expected to continue with on-going expansion in China's manufacturing sector. The reduced performance of European carriers may reflect weakness in recent manufacturing and export activity. Overall decreased performance from North American airlines may reflect weakness in trade volumes following severe weather events in 1st Q 2014, while recent data suggests stronger business activity, which may support improved airfreight volumes in the coming months.

Middle East carriers continue to expand strongly, capitalising on growth opportunities by expanding in emerging markets such as Uganda and Mexico.

Latin American airlines showed a sharp contraction in Jun-2014 and a decline in 1st half 2014 due to sluggish trade growth and weakness in Brazil's economy.

Growth for African carriers was affected by a slowdown in some regional economies, notably South Africa, but improving trade data suggests a more optimistic outlook for 2nd Half 2014..

EU-Digest

Canada: Competition Bureau discloses names in global bank probe

Canada's Competition Bureau continues to probe a mushrooming international scandal that has already ensnared a venerable British bank and forced the resignation of its chief executive.

Documents filed in an Ontario court suggest the bureau is investigating a possible Canadian link to the scandal that's rocking the world of global banking: financial skullduggery involving the manipulation of a key international interest rate known as the LIBOR rate.

One of the named parties — the Canadian branch of the Royal Bank of Scotland — has filed a court challenge on the grounds the bureau's actions are unconstitutional and well beyond the scope of its mandate. But the investigation hasn't stopped, said bureau spokeswoman Gabrielle Tasse.

"I cannot speak to the investigation because we have to conduct our work privately, but our investigation is ongoing," Tasse said.

Read more: Competition Bureau discloses names in global bank probe - Business - CBC News

Tourism to Turkey is down by 6%

The current economic and political turmoil in Europe has taken its toll on the Turkish tourism industry which suffered a significant decline in the number of tourists visiting the country, according to data published by the Turkish Statistical Institute (Turkstat).

Tourist arrivals in the first quarter of 2012 dropped by 6%, compared to the previous year.

The steep drop in tourism chiefly derives from a decline in the number of tourists visiting Turkey from North America and Western Europe – regions which used to compose the majority of the Turkish tourism clientele.

Read more: Turkey tourism is down by 6% - Israel Travel, Ynetnews