5 Biggest Disruptions of the Year
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Business disruptions happen regardless of if your organization is small or a multinational brand, disruptions can have a trinkle effect impacting supply chains, inability for clients to interact with your business, and/or potentially cause downtime.
Being in business is not easy. You are always on the move to protect your business and its processes against surging crises, risks, and disruptions. Ergo, it’s more crucial for you than anyone to gain insights into the latest business disruptions. Here are 5 crises that caused a disturbance in the business realm recently.
China Taiwan Conflict Can Impede Economies and Supply Chain
Rising tension between China and Taiwan threatens the global supply chain and ultimately economic growth as nearly half the world's container ships passed through the narrow Taiwan Strait. Taiwan accounts for over 63% of semiconductor production globally and if the tension aggregates it would further affect the supply of semiconductors for data centres. Further consequences of the war as per some analysts is that the U.S. could go to war over Taiwan resulting in major supply chain and trade disruptions.
UAE Records its Highest Amount of Rainfall in 27 Years
According to the National Centre of Meteorology, the United Arab Emirates (UAE) recorded its highest amount of rainfall in 27 years after two days of nonstop rains. The United Arab Emirate's northern emirates, mainly Fujairah in Emirate of Fujairah, Kalba in Emirate of Sharjah, and different areas of Emirate of Ras Al Khaimah were majorly affected by heavy rains, after which floods occurred. Traders in the Emirate of Fujairah lost over AED 1 million worth of goods during the crisis.
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Monkeypox Outbreak on the Move
As if the COVID-19 pandemic wasn’t enough, Monkeypox is on the horizon, if strict measures aren’t taken in time. As per WHO, from Jan to June 3413 laboratory-confirmed cases and one death were reported to WHO from 50 countries/territories in five WHO Regions. Thankfully, the stats aren’t as terrifying as it was for the COVID pandemic. And even if the monkeypox aggravates at least we know how to tackle such situations as learned from the past.
Europe Heat Wave is Worst than 2021
Parts of Europe, the Middle East, and North Africa were affected by wildfires. The Mediterranean Countries mainly France, Greece, Portugal, and Spain are affected by the rage of the fires. The countries witnessed 40 C for the first time on record. The European Forest Fire Information System (EFFIS) said that for Europe 2022 could become the year with the most land burned by area than in 2017 with over 1,000,000 hectares (10,000 km2) lost - the worst recorded year for wildfires. To give more informed insights, here is a graph taken from The Guardian.
Source: The Guardian
Sri Lanka Economic Crises Hits the Rock Bottom
From being the fastest growing economy in Asia to the worst economic crisis, Sri Lanka’s inflation has risen to 60.8% as Dollar Crunch Persists as per Bloomberg — making it difficult for citizens to survive. Many experts indicate that Sri Lanka’s story is a warning sign for emerging markets. People are struggling with daily power cuts and shortages of basics including food, fuel, and medicines.
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