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Strategic Alliances in a Shifting Global Landscape

In a world marked by geopolitical tensions and shifting alliances, Russian President Vladimir Putin and Chinese President Xi Jinping have positioned themselves as defenders of a new world order. Their recent meeting in Moscow, coinciding with the 80th anniversary of the end of World War II, underscored their commitment to countering Western influence and promoting a multipolar global system. During the talks, Putin and Xi emphasized their shared vision of international stability, rejecting what they described as "unilateralism and bullying"—a veiled reference to the United States. Xi reaffirmed China's support for Russia, highlighting their strategic partnership and mutual interests in shaping global governance. The leaders also pledged to safeguard the authority of the United Nations and advocate for the rights of developing nations. This alliance comes at a critical time, as both nations face economic and political challenges. Russia continues to navigate Western sancti...
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IKEA lowers prices in several countries to attract more customers

 

The price cuts, which will take effect from February 1, are part of IKEA’s strategy to boost sales volumes and market share in the wake of the pandemic, which disrupted global supply chains and increased shipping costs. IKEA said it aims to bring prices back to pre-pandemic levels by the end of next year.

Some of the products that will see lower prices are KALLAX storage cubes, BILLY bookcases, and MALM bed frames. IKEA is already selling more of these products in some countries, according to Tolga Oncu, Ingka Retail Manager at Ingka Group, the biggest owner of IKEA stores.

“When you lower the price you also need to see a volume increase,” Oncu said. “Every country is sitting and looking at where are the opportunities for us to, by lowering the prices, sell more pieces.”

IKEA is not the only retailer that is adjusting its prices in response to changing market conditions. Other companies, such as Walmart and Target, have also lowered or raised prices on certain items to cope with inflation and supply chain issues.

IKEA, which operates in 52 markets, said it has invested more than 1 billion euros ($1.08 billion) in price reductions across its markets from September to November. The company also said it is not expecting any major impact from the recent disruptions in the Red Sea, which have affected global freight movements.

IKEA is owned by a separate company, Inter IKEA, which manufactures all IKEA products. Ingka Group is the main global franchisee of IKEA. 

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