economy

Support for Universal Basic Income growing as economies look to recover from coronavirus devastation

May 26, 2020 by Sam Francis 2 Comments

A couple of years ago, RoboticsAndAutomationNews.com published a story about Finland introducing a “Universal Basic Income” for a small number of its citizens as an experiment.

The Finnish government’s idea was that it would study the possibility of using UBI as a way to offset the unemployment caused by automation.

Although it was well worth reporting, we were somewhat flippant about UBI, suggesting it was a communist idea that would never take off. Finland, of course, was within the sphere of influence of the old Communist or Eastern Bloc, and the now-gone USSR. [Read more…] about Support for Universal Basic Income growing as economies look to recover from coronavirus devastation

China crisis: Coronavirus devastates economy, but early drastic action may have limited long-term damage

March 23, 2020 by Mai Tao Leave a Comment

If anyone thought they could make coronavirus go away by simply ignoring it – we include ourselves in this – has been proven wrong. Wherever you are in the world, it has been virtually impossible to ignore what is now called Covid-19 by the World Health Organisation, which has declared the virus a pandemic.

A pandemic is a virus or disease that appears on every continent, as coronavirus indeed does.

Some may have argued that Covid-19 is simply a variation of the flu. Even if that’s true, it is far more dangerous than the common or seasonal flu. Coronavirus kills, and has done so on an unprecedented scale. [Read more…] about China crisis: Coronavirus devastates economy, but early drastic action may have limited long-term damage

Kuwait: Banking On Growth

February 6, 2020 by David Edwards Leave a Comment

Kuwait is a country that has defied all odds to record a positive outcome economically than earlier anticipated. Only a couple of years Kuwait were at war after the Iraq invasion.

Additionally, in 2017 the country experienced a historic fall of oil prices are some of the things that many thought Kuwait had a long way to go before experiencing any visible change, but today it is a different narrative.

According to the Central Bank of Kuwait (CBK) Governor, Mohammad Y. Al-Hashel, the country economy is resilience and ability to overcome the challenging environment. [Read more…] about Kuwait: Banking On Growth

SEMI to hold industry symposium in Brussels

February 4, 2020 by David Edwards Leave a Comment

Electronics manufacturing leaders, top executives, policy makers and academics from across Europe will gather at SEMI Industry Strategy Symposium (ISS Europe) from 1-3 April 2020 in Brussels, Belgium to explore Europe’s most pressing strategic, social and economic needs.

As Europe braces for the effects of Brexit, including higher customs duties, long delays and greater uncertainties, ISS Europe 2020 will bring together leading executives, analysts, researchers, economists, and technologists shaping the electronics manufacturing supply chain to discuss and highlight the opportunities to develop the technology, products and services needed to meet Europe’s collective socio-economic and sustainability goals.

Registration is now open with early-bird discount until January 31. [Read more…] about SEMI to hold industry symposium in Brussels

Universal Robots and Mobile Industrial Robots open collaborative automation center in Spain

November 11, 2019 by David Edwards Leave a Comment

Two of the most well-known robotics companies have jointly opened a collaborative automation center in Barcelona, Spain.

Universal Robots, the maker of the best-selling collaborative robotic arms, and Mobile Industrial Robots, which makes mobile robots for warehouses, say the new facility will help promote collaborative automation in southern Europe.

Described as “the first worldwide hub focusing on collaborative robotics”, the center is located in 22@ district of Barcelona. [Read more…] about Universal Robots and Mobile Industrial Robots open collaborative automation center in Spain

US manufacturing output reaches ‘all-time high’

August 21, 2019 by David Edwards

Manufacturing output in the US has reached an “all-time high”, signaling the industry’s strength, according to the National Association of Manufacturers.

For the past two years, manufacturers have been setting new records when it comes to manufacturing output, and through the first quarter of 2019, the industry has continued to reach new heights.

Four out of five manufacturers remain positive about their company’s outlook, according to the National Association of Manufacturers’ latest Outlook Survey, and new Bureau of Economic Analysis data find that manufacturers’ level of output hit an all-time high once again. [Read more…] about US manufacturing output reaches ‘all-time high’

Magna celebrates growing footprint in China with two grand opening events

May 16, 2019 by Anna

Magna held two grand opening ceremonies last month in China, for new factories in Changsha and Shanghai.

The new plant in Changsha, a joint venture with GAC subsidiary GAC Component Co., Ltd. (GAC Component), began production of composite liftgates for a global automaker’s crossover vehicle in late 2018.

Last month, Magna’s plant in Shanghai started production on active aerodynamic grille shutters for an American brand producing multiple vehicle platforms for the China market.

[Read more…]

US manufacturing faces possible pitfalls and severe declines, says report

June 30, 2017 by Sam Francis

U.S.-manufacturing flags — Picture credit: LeHighValley.com via GlobalTradeMag.com

The US manufacturing sector faces numerous possible pitfalls and some risk of severe declines, according to a new report by Creditsafe USA.

The in-depth analysis of the US manufacturing industry says that, despite recent overall consistent performance, there are “several areas of concern” across the entire sector. In particular, the rate of bankruptcy signaling the possibility of an industry slowdown.

With the manufacturing industry being the largest area of employment in the US, any decline could have a “catastrophic effect” on the overall US economy, says Creditsafe. [Read more…] about US manufacturing faces possible pitfalls and severe declines, says report

Finding a third way forward for China’s economy

June 1, 2017 by David Edwards

By Edward Tse, CEO of Gao Feng

China’s fast economic growth, its gradual but consistent transition from a planned economy toward a market economy, the emergence of highly intensive competition in the open sectors, the increasing prevalence of technology and the availability of angel investing and venture capital funds all contributed to the emergence of waves of entrepreneurship and innovation in China that the country had not seen before.

In their search for growth strategies, these Chinese entrepreneurs were typically fast and agile. Some of them developed diversified conglomerates, and there were others that decided on a narrow focus, taking the core competence approach.

The results have been mixed. Interestingly, some of them, through trial and error, discovered a third way of strategy development. We call it “multiple jumping”. [Read more…] about Finding a third way forward for China’s economy

Siemens to invest $133 million in Canadian operations

January 20, 2017 by Mark Allinson

siemens and seneca college canada — Last year, Seneca College and Siemens Canada opened what they said was Ontario’s first Mechatronics Simulation and Demonstration Centre

Siemens plans to invest $110.6 million in research and development activities at its plant in Dorval, Canada to design and make improvements to aero-derivative gas turbines.

These turbines are used for, among other things, the production of electricity, and serve as a backup source in the event that the existing network is unable to meet the demand.

The engineering company also plans to invest $22 million to launch a platform of expertise related to Industry 4.0 and the implementation of a training system integrated into the workplace. [Read more…] about Siemens to invest $133 million in Canadian operations