The following sentence might make a globalist cry out for joy: A toy that is manufactured by a Chinese company in Vietnamese factories, designed by a Dutch artist in Belgium, inspired by indie toy culture in Hong Kong, and made viral thanks to a Thai K-pop star, has turned into the biggest Gen-Z cultural trend of 2025.
That abomination of a sentence is the story of Labubu, the creepy-cute stuffed monster that swept the world this summer. You must have seen the trend by now, but most people are still unaware of the global, decade-long story that led up to it. Last week, I published a feature story about my journey into the heart of Labubu, how this cultural mania moment was created, and where it may go from here.
It’s an inherently international story, but it’s not the first time we’ve seen it. Think about how the world fell for Pokemon Go or Kpop bands like BTS and Blackpink. These are all examples of regional cultural powerhouse industries successfully finding global audiences for their work. What’s new about Labubu, however, is that it’s the first time a Chinese company was able to engineer this level of success and cultural impact.
Sure, there are always coincidences at work for a success of this scale, but the more I reported on this story, the more I also realized the historical and economic reasons why Labubu, and the toy company behind it, Pop Mart, ended up in this place. In many ways, it resembles other Chinese tech companies that went from counterfeit producers to international name brands, moving up the value chain as they transformed manufacturing experience into valuable technological knowhow.
The story of Labubu begins in Hong Kong in the 1970s and early ‘80s, when the city became a manufacturing hub for toys. From Mattel and Disney to Japan’s Bandai, almost every major toy company was outsourcing production to factories in Hong Kong, due to the low labor costs there.
Howard Lee, the founder of a Hong Kong toy studio called How2Work, told me how that period of history shaped his childhood. “Many parents would go to factories and come home with outsourced gig work like hand painting toys at home,” he says. It was also easy for people to buy toys with cosmetic or functional imperfections from the factories directly, so a generation of children like Lee grew up with relatively easy access to flawed dolls and other toys, which made them yearn more for the better ones they couldn’t afford.
Almost 75,000 farmed salmon have escaped into open water in Loch Linnhe in the Highlands after a fish farm was damaged by Storm Amy.
Operator Mowi said a net on a pen at its Gorsten farm was torn during the severe weather.
The fish farm company said it was investigating the incident.
Scottish Greens MSP Ariane Burgess and charity WildFish Scotland said the escaped fish could pose a risk to wild salmon.
High winds during last weekend’s storm caused power cuts and also damaged sub-sea cables that bring internet services to Shetland and Tiree.
Mowi said it regretted the escape of fish into Loch Linnhe, a sea loch in Lochaber.
A spokesperson said: “Initial investigations indicate that the intense weather conditions caused mooring anchors to drag, and this brought the pen net into contact with a flotation pipe subsequently causing a tear.
“Despite challenging conditions, Mowi swiftly informed the relevant authorities, including local fisheries stakeholders and is now undertaking a full investigation.”
Ms Burgess said: “The escaped fish pose a serious threat to Scotland’s wild salmon.
“When farmed salmon breed with wild fish, it weakens the wild population and reduces their chances of survival.
“Every escape adds to the pressure on our already depleted wild salmon populations.”
WildFish Scotland has also raised concerns around farmed and wild salmon breeding.
It described the incident as one of the biggest in recent years.
The Scottish government said it was committed to working with industry, conservation groups and communities to ensure fish farming had a “sustainable and prosperous” future.
Work has restarted in the Jaguar Land Rover Wolverhampton, Solihull and Halewood factories after the cyber attack
Range Rover production lines in Solihull have resumed, according to car maker Jaguar Land Rover (JLR).
About 6,500 employees were back working at the site, it said, following the phased restart of operations after a major cyber-attack.
About 1,000 employees also started work in the car maker’s Wolverhampton engine plant on Wednesday, it said, marking a “significant moment” on its journey back to full vehicle production.
The company said it planned for all its manufacturing sites to be back up and running by the end of next week as it recovered from the incident.
JLR revealed on Monday it had suffered a sharp drop in sales following the incident, adding it had been a “challenging quarter” as it also dealt with the impact of higher US tariffs.
There was a “strong sense of unity and momentum” as the company welcomed back staff, said global manufacturing director Luis Vara.
The company was back to doing “what we do best”, he added, “building quality luxury vehicles for our customers”.
Jaguar Land Rover
The company has revealed a sharp drop in sales over recent months
Stamping operations in Castle Bromwich, West Midlands, and Halewood, in Merseyside, have also resumed, the company said.
It said the remaining production lines in Solihull, which make the Range Rover Velar SUV and Jaguar F Pace models, would come back on stream next Monday, alongside vehicle manufacturing operations in Halewood.
Overseas factories in Pune, India, and Brazil are set to follow suit later next week, marking the final sites to resume operations.
“Wolverhampton is one of the first sites to restart production because it’s where we build all of the engines for JLR vehicles ahead of vehicle production taking place,” the company added.
The attack came at a crucial time for the company with the release of new 75-series number plates expected to trigger a surge in demand.
Between July and September, sales fell by 17.1% compared with the same period a year ago.
UK sales had dropped by a third, the company said.
JLR said this partly reflected the production freeze since the start of September.
Jaguar Land Rover
About 1,000 workers returned to the company’s Wolverhampton factory on Wednesday
JLR has announced a programme to fast-track payments to its direct suppliers, some of which have laid off workers after their revenues dried up following the hack.
The company also vowed to pay back financing costs for those JLR suppliers who use the scheme during the restart phase.
Industry insiders have warned the resumption of production, while welcome, does not end the crisis being experienced by many smaller suppliers.
Equity Insider News Commentary Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER, BC, Oct. 9, 2025 /PRNewswire/ — Equity InsiderNews Commentary — Gold’s historic breach of $4,000 per ounce Tuesday marked the culmination of a remarkable year that has seen the precious metal gain approximately 50%—the strongest annual performance in more than four decades[1]. The rally has triggered a powerful rotation into gold mining equities, with funds focused on miners delivering 114% returns year-to-date and drawing $5.4 billion in third-quarter inflows alone, the largest quarterly influx since the depths of the 2009 financial crisis[2]. Despite the stunning rally, technical analysts note that the sector remains widely under-owned, with gold mining stocks still trading at valuations that imply bullion prices near $2,500[3], creating what many see as a disconnect that could drive further gains across producers and developers, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), TRX Gold Corporation (NYSE-American: TRX) (TSX: TRX), Arras Minerals Corp. (TSXV: ARK) (OTCQB: ARRKF), Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF), and Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI).
Goldman Sachs added fuel to the bullish sentiment Monday by raising its forecast to $4,900 per ounce by mid-2026[4], with other analysts now describing $5,000 gold as a “certainty” rather than a speculative target, driven by concerns over Federal Reserve independence, geopolitical instability, and accelerating central bank purchases[5]. With gold companies generating record free cash flow at current prices—yet trading at forward earnings multiples below their ten-year averages—the mining sector appears positioned to benefit from both continued metal price appreciation and long-overdue valuation expansion.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has commenced drilling at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in Tanzania, marking a critical inflection point in the company’s path toward near-term production.
The first of approximately 24 planned holes is now drilling as part of a 4,000-metre program designed to finalize pit design, upgrade resource confidence, and test extensions at the priority starter pit. The company is using a cost-efficient drilling approach that captures the technical data required for final mine scheduling while keeping cycle times short.
“Kicking off drilling at Area C is a tangible step toward first production at Imwelo,” said Marc Cernovitch, President and CEO of Lake Victoria Gold. “This program is designed to tighten our final pit design, convert ounces where appropriate, and set up for grade-control drilling so that once construction begins we can move quickly into pre-strip and stockpiling.”
The drilling targets several key goals: finalizing pit design with detailed engineering data, upgrading the confidence level of existing historical gold resources, testing for additional gold beyond currently defined zones, preparing operational mining plans, and optimizing gold recovery rates.
The first hole is testing Area C mineralization at approximately 120 metres depth near the western end of the zone, going deeper than previous drilling. Historical results from this area returned 6.8 metres at 14.6 g/t gold at 32 m and and 2.0 metres at 7.5 g/t from 22m.demonstrating high potential production-grade mineralization.
“We’ve engineered this campaign to answer the last technical questions: slope angles, ramp geometry, and continuity down-dip and to the west,” said Seth Dickinson, Chief Operating Officer of Lake Victoria Gold. “By combining RC with diamond tails we are keeping costs down without compromising core data quality.”
The drilling launch follows LVG having recently reached a pivotal agreement in principle with the Government of Tanzania on the government’s statutory minimum 16% free carried interest, satisfying a principal regulatory requirement. Combined with environmental approval of the Updated Environmental and Social Management Plan, the regulatory framework is now effectively in place to advance toward construction.
Located just 12 kilometers from AngloGold Ashanti’s flagship Geita mine, Imwelo holds a 10-year renewable mining license with metallurgical recoveries exceeding 90%—meaning 90 cents of every dollar of gold in the rock can in principle be extracted and sold. Perhaps more importantly, Lake Victoria Gold targets first gold within 12 months of breaking ground.
Financial momentum continued building in September, after LVGofficially closed an oversubscribed $6 million financing and an about to close $2 million concurrent private placement. Proceeds support work programs satisfying conditions for a pre-paid forward purchase facility with Monetary Metals funding mine construction capital.
Beyond Imwelo, the Tembo Project offers additional optionality through a planned 3,000m drilling program at Ngula 1, where historic intercepts of 28.57 g/t gold over 3 metres demonstrate toll milling potential. The company also maintains exposure to up to US$45 million in contingent milestone payments from the 2021 asset sale to Barrick’s Bulyanhulu operation.
The timing of drilling commencement could hardly be more strategic. With gold breaking through $4,000 per ounce for the first time in history, Lake Victoria Gold is mobilizing equipment at a fully permitted project in one of Africa’s premier gold districts at precisely the moment when high-grade ounces command maximum value. As regulatory clearances align with exceptional metal prices and active field programs across two projects, LVG has positioned itself at the intersection of technical de-risking and unprecedented market opportunity.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
CONTINUED… Read this and more news for Lake Victoria Gold at: https://equity-insider.com/2025/04/14/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/
In other industry developments and happenings in the market include:
TRX Gold Corporation (NYSE-American: TRX) (TSX: TRX) achieved record quarterly results at its Buckreef Gold project in Tanzania, with production and sales of 6,404 and 6,977 ounces of gold respectively in Q4 2025, representing a 37% production increase over Q3 2025. The company benefited from an average gold price of approximately $3,350 per ounce during the quarter, with its working capital ratio improving from 0.8 to 1.2 and cash balance reaching $7.8 million by August 31, 2025.
“We’re very pleased with the positive trajectory and record gold production achieved at Buckreef Gold this quarter as the Company benefited from access to higher grade ore following successful completion of our scheduled strip campaign earlier in the year,” said Stephen Mullowney, CEO of TRX Gold. “Our short-to-medium term priorities remain the same – continue to expand and upgrade processing capacity in line with our PEA, continue advancing exploration in key areas, and strengthen our liquidity.”
TRX Gold has commenced procurement of near-term plant enhancements including a thickener, elution plant upgrades, and additional slurry oxidation capacity to improve gold recoveries. The company’s run-of-mine stockpile has grown to an estimated 15,162 ounces of contained gold as of August 31, 2025, while it fully repaid approximately $3.0 million in short-term borrowings during the quarter.
Arras Minerals Corp. (TSXV: ARK) (OTCQB: ARRKF) has delivered exceptional results from its Berezski East Target at the Elemes Project in Kazakhstan, with hole EL25019 intersecting 457.5 meters grading 0.63 g/t gold-equivalent starting at surface, including 231.0 meters grading 0.98 g/t gold-equivalent and 91 meters grading 1.77 g/t gold-equivalent. The discovery of copper sulfides and broad zones of potassic alteration indicates the target may be situated on the margin of a larger porphyry copper-gold system.
“Drillhole EL25019 has delivered an exceptional high-grade gold-copper intercept from surface, confirming Berezski East’s strong potential to host broad zones of high-grade mineralization,” said Tim Barry, CEO of Arras Minerals. “When we look at the area between Berezski Central and Berezski East, we continue to see the potential for continuity and scale.”
The company has completed detailed magnetotellurics and gravity surveys and will commence a high-density top-of-bedrock drill program in the coming weeks. Preliminary gravity survey results reveal a pronounced gravity low coincident with copper-gold mineralization at Berezski Central, with a second gravity low identified immediately northeast of the latest high-grade intercept, supporting the interpretation of a mineralized porphyry system.
Red Pine Exploration Inc. (TSXV: RPX) (OTCQB: RDEXF) has announced high-grade drilling results from its near-surface program at the Wawa Gold Project in Ontario, with hole SD-25-573 returning 7.76 g/t gold over 15.49 meters including 84.20 g/t gold over 1.00 meter. The company has completed 69 drill holes totaling 24,531.19 meters and has received all gold assay results needed for an updated independent mineral resource estimate currently underway by WSP Canada Inc. for disclosure in a pending preliminary economic assessment.
“We are excited by these near surface drill results that continue to identify higher grades within the Jubilee Shear Zone,” said Michael Michaud, President and CEO of Red Pine. “With the drilling for the updated mineral resource estimate now completed, we are moving forward to completing a preliminary economic assessment in the first half of 2026.”
Metallurgical, geotechnical, and baseline work is underway to support permitting, while the company’s next drill phase to further expand near-surface gold mineralization is set to begin shortly. With funding in place to complete the preliminary economic assessment, Red Pine is advancing toward production in what management describes as a strong gold price environment.
Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) delivered production of 72,462 gold equivalent ounces for the third quarter of 2025 from its three operating mines in West Africa and Latin America, maintaining consistent performance with 71,229 gold equivalent ounces in Q2 2025. The Séguéla Mine in Côte d’Ivoire produced 38,799 ounces of gold during the quarter at an average head grade of 3.01 g/t gold with 91.4% recovery, representing a 1% increase over the previous quarter.
The company’s Lindero Mine in Argentina delivered its highest quarterly production of the year with 24,417 ounces of gold, benefiting from a 5% higher gold grade and improved recovery from the leach pad. Fortuna has successfully completed its tailings storage facility expansion at Séguéla, providing capacity at current throughput rates until August 2029, while optimization of the crushing circuit at Lindero achieved average throughput of 1,061 tonnes per hour, 8% above the 2024 average.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). This article is being distributed for Baystreet.ca media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. (“BAY”) There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Ijara Capital Partners Ltd., a leading private equity and venture capital firm in Pakistan, has acquired Sindlab Pvt. Ltd., according to Bloomberg.
Sindlab is recognized for its competitive pricing and wide network across the city, according to Ijara Capital CEO Farrukh Ansari.
The acquisition follows Ijara Capital’s earlier purchase of Searle Pakistan Co. this year, signaling the firm’s growing interest in healthcare investments.
Sindlab, founded 47 years ago, is recognized for its affordable testing services in clinical laboratory, radiology, and ultrasound diagnostics.
Ijara Capital CEO Farrukh Ansari confirmed the acquisition, noting that Sindlab’s extensive retail footprint and brand trust make it a strong strategic fit for Ijara’s expanding health portfolio.
The firm said it plans to continue exploring new healthcare acquisition opportunities to strengthen its position in the sector.
Ijara said in its statement that it views healthcare as a “critical national growth pillar” and remains committed to expanding access through investment, innovation, and operational efficiency.
MTN Group has once again been recognised as one of the Forbes World’s Best Employers, marking its fifth consecutive year on the list. MTN now ranks 3rd globally in the Telecommunications Services, Cable Supplier category – showcasing leadership in the sector. In a remarkable leap, MTN has also climbed 101 places in the overall global ranking to 166th, up from 267th in 2024.
This recognition, based on feedback from over 300,000 employees in over 50 countries worldwide, is a testament to MTN’s unwavering commitment to fostering a workplace culture rooted in care, integrity, agility, respect, and inclusion which aligns to the pillars of its “Live Y’ello” values.
“This achievement is a reflection of the incredible people who make MTN what it is. Our people are the driving force behind the group’s mission to enable digital and financial inclusion across the continent, and it is through their dedication that we continue to lead in delivering digital solutions for Africa’s growth,” said Ralph Mupita, MTN Group President and CEO.
“We are honoured to be recognised, and even more committed to the culture we’ve built – a culture that emphasises empowerment and inclusivity.”
At the heart of MTN’s success is its Live Inspired Employee Value Promise, which ensures every team member is supported to grow, innovate, and thrive. This promise is not just a statement but a lived experience across MTN’s markets, where every individual’s voice is valued, and where passion, dedication, and collaboration drive our shared success.
“This recognition from Forbes is a powerful testament to the value our 17,500+ people place in being part of the MTN journey,” said Paul Norman, MTN Group Chief Human Resources Officer.
“It affirms the importance of creating a workplace built on inclusivity, support, and personal growth – an environment where everyone can thrive. It is through the passion and commitment of our people that MTN continues to lead.”
The organisation’s continued investment in employee well-being, diversity, and growth reinforces its belief that empowered people build empowered communities.
This September, Foley Hoag team members from across the United States participated in dozens of events at ClimateWeekNYC, Colorado Climate Week, and Houston Energy + Climate Startup Week. Our team left buzzing with energy and optimism. In New York, the momentum, collaboration, and shared purpose at the world’s largest annual climate gathering were truly inspiring. In Colorado and Texas, we saw the forefront of new technologies and new ideas about energy and climate that are impacting consumers, developers and policymakers across the country.
New York was rainy and humid, but our team trekked hundreds of miles across the city to engage in discussions across a wide range of topics. Gone is the frothiness of post-Inflation Reduction Act initiatives and we saw fewer pledges of ambitious decarbonization goals. Instead, many of the conversations focused on real-world immediate issues like load growth from data centers, strained grid systems, critical minerals supply, adaptation and resiliency, affordability of energy, and navigating a world with less federal support (or downright opposition).
In Colorado, our team facilitated discussions on the role of government relations and legal strategy in climatetech.
In Houston, we joined our friends at Greentown Labs and Activate in multiple days of demos and workshops focusing on new technologies for the energy transition.
Attorneys at Foley Hoag have been at the forefront of navigating the new climate landscape. As we head into another week of a government shut down, we’re working with private and public companies, nonprofits, and state and local agencies to work through new solutions to the problems of the day.
At this year’s New York Climate Week, our conversations focused on bringing people together to brainstorm practical solutions, and to connect the founders and funders that will build the energy infrastructure of the next several decades. Together with our colleagues and partners at Planeteer Capital, Earthshot Ventures, Activate, Molecule Group, Node Climate, Impact Capital Managers, Tailwind Futures, Resilience Company, Resilience Investments, Cleantech Leaders Climate Forum and the Sustainable Energy and Environment Coalition Institute, we dove into meaningful conversations on adaptation and resilience, clean fuels and corporate sustainability, FOAK technologies, and climate finance and investing—and even got an exciting preview of breakthrough green technologies poised to shape what’s next.
Thank you to everyone who joined us at our events. We’re energized by the engagement with so many partners and can’t wait to keep the momentum going.
More than 100 countries have cut their dependence on fossil-fuel imports and saved hundreds of billions of dollars by continuing to invest in renewables, according to the International Energy Agency (IEA).
It says nations such as the UK, Germany and Chile have reduced their need for imported coal and gas by around a third since 2010, mainly by building wind and solar power.
Denmark has cut its reliance on fossil-fuel imports by nearly half over the same period.
Renewable expansion allowed these nations to collectively avoid importing 700m tonnes of coal and 400bn cubic metres of gas in 2023, equivalent to around 10% of global consumption.
In doing so, the fuel-importing countries saved more than $1.3tn between 2010 and 2023 that would otherwise have been spent on fossil fuels from overseas.
Reduced reliance
The IEA’s Renewables 2025 report quantifies the benefits of renewable-energy deployment for electricity systems in fossil fuel-importing nations.
It compares recent trends in renewable expansion to an alternative “low renewable-energy source” scenario, in which this growth did not take place.
In this counterfactual, fuel-importing countries stopped building wind, solar and other non-hydropower renewable-energy projects after 2010.
In reality, the world added around 2,500 gigawatts (GW) of such projects between 2010 and 2023, according to the IEA, more than the combined electricity generating capacity of the EU and US in 2023, from all sources. Roughly 80% of this new renewable capacity was built in nations that rely on coal and gas imports to generate electricity.
The chart below shows how 31 of these countries have substantially cut their dependence on imported fossil fuels over the 13-year period, as a result of expanding their wind, solar and other renewable energy supplies. All of these countries are net importers of coal and gas.
Share of national electricity supplies that depend on imported fossil fuels in 2023, actual (left) and in the IEA’s “low renewable-energy source” scenario (right), in 31 countries that are net importers of coal and gas. Source: IEA.
In total, the IEA identified 107 countries that had reduced their dependence on fossil fuel imports for electricity generation, to some extent due to the deployment of renewables other than hydropower.
Of these, 38 had cut their reliance on electricity from imported coal and gas by more than 10 percentage points and eight had seen that share drop by more than 30 percentage points.
Security and resilience
The IEA stresses that renewables “inherently strengthen energy supply security”, because they generate electricity domestically, while also “improving…economic resilience” in fossil-fuel importer countries.
This is particularly true for countries with low or dwindling domestic energy resources.
The agency cites the energy crisis exacerbated by Russia’s invasion of Ukraine, which exposed EU importers to spiralling fossil-fuel prices.
Bulgaria, Romania and Finland – which have historically depended on Russian gas for electricity generation – have all brought their import reliance close to zero in recent years by building renewables.
In the UK, where there has been mounting opposition to renewables from right-wing political parties, the IEA says reliance on electricity generated with imported fossil fuels has dropped from 45% to under 25% in a decade, thanks primarily to the growth of wind and solar power.
Without these technologies, the UK would now be needing to import fossil fuels to supply nearly 60% of its electricity, the IEA says.
Other major economies, notably China and the EU, would also have had to rely on a growing share of coal and gas from overseas, if they had not expanded renewables.
As well as increasing the need for fossil-fuel imports from other countries, switching renewables for fossil fuels would require significantly higher energy usage “due to [fossil fuels’] lower conversion efficiencies”, the IEA notes. Each gigawatt-hour (GWh) of renewable power produced has avoided the need for 2-3GWh of fossil fuels, it explains.
Finally, the IEA points out that spending on renewables rather than imported fossil fuels keeps more investment in domestic economies and supports local jobs.
Resilient growth continues despite policy uncertainty and geopolitical tensions. Barring major shocks in the final months of the year, global trade is on track to surpass its 2024 record.
Global trade is set to reach new record levels in 2025 as resilient growth continues despite policy uncertainty and geopolitical tensions, according to a new report from UN Trade and Development (UNCTAD).
The value of global trade rose by about $500 billion in the first half of 2025. In the second quarter alone, it grew by 2.5% quarter over quarter, with momentum expected to persist through the third. Goods and services both expanded strongly, with services rebounding after a first-quarter contraction.
Developing economies led the expansion, supported by rising South–South trade – trade between developing countries – while weaker United States imports weighed on the global average.
Barring major shocks in the final months of the year, the total value of global trade is projected to surpass its 2024 record.
Manufacturing drives growth
Manufacturing remained the main engine of trade growth in the second quarter of the year, led by the electronics sector and strong demand for hybrid and electric vehicles. This reinforces manufacturing’s central role in the current phase of trade expansion.
Prices set to rise and fuel growth
Prices for traded goods began to climb in the second quarter, with a sharper rise expected in the third, suggesting that price increases could play a bigger role than higher volumes in fuelling growth in the coming months.
Trade imbalances narrow
Global imbalances in trade in goods, which had widened in previous quarters, narrowed in the second quarter of 2025 following shifts in US trade policy.
China’s trade surplus edged lower, and the European Union’s surplus also declined, while deficits widened in Japan, India and the United Kingdom.
Outlook remains positive despite risks
UNCTAD’s nowcast points to continued growth in the third quarter, with the trade in goods expected to expand by about 2.5% and services by roughly 4%. On a rolling annual basis, growth remains robust – around 5% for goods and 6% for services.
Risks to the outlook include persistent uncertainty over US trade policy, escalating geopolitical tensions and renewed protectionist measures in response to global overcapacity. Still, stronger economic growth, possible monetary easing and resilient services trade are expected to support continued expansion.
Figure 4(a) illustrates the mesh domain of the present CFD model. This system uses an unstructured mesh due to the existence of KSM in the RO. For mesh independence analysis, Fig. 4(b) illustrates the mass transfer coefficient as a function of the number of elements. According to the results, after 300,000 elements, the variation in the mass transfer coefficient is not significant; thus, this mesh is used for calculations.
For validation of mass transfer in the RO, Fig. 4(c) presents a comparison of mass transfer from this study and the study by Li et al.26 as a function of inlet velocity. The inlet concentration of salt in the RO is 13 mol/m2, and the feed pressure is 13.6 bar. According to the results, the average relative error between the present model and the data from Li et al. is less than 5%, indicating good agreement.
To the best of our knowledge, no previous study has investigated RO with KSM. Therefore, to validate the flow characteristics of an RO system with a spacer, the present study utilizes the data from Kavianipour et al.19, who examined a submerged spacer in an RO system. Figure 4(d) presents a comparison of the pressure drop between the current study and the data reported by Kavianipour et al. across different Reynolds numbers. The results indicate that the average relative error between the present model and the data from Kavianipour et al. is less than 2%, demonstrating strong agreement.
Fig. 4
Mesh analyzing: (a) The mesh domain of the present CFD model, (b) Mass transfer coefficient, (c) A comparison of mass transfer from this study and the study by Li et al.26, (d) A comparison of the pressure drops between the current study and the data reported by Kavianipour et al.19.
Concentration and velocity distribution of RO and kenics static mixers (ROKSM)
Figure 5 illustrates the velocity and concentration distributions in the RO feed channel at Re = 300. The subfigures are: (a) velocity distribution in ROKSM, showing enhanced mixing due to helical elements; (b) velocity distribution in standard RO, with more laminar flow and boundary layer buildup; (c) concentration distribution in ROKSM, demonstrating reduced wall concentration (indicating lower CP); and (d) concentration distribution in standard RO, with higher wall concentration and pronounced CP layer. These profiles confirm that KSM disrupts the boundary layer, reducing CP factor (CPF) from 1.038 in standard RO to 1.015 in ROKSM, leading to improved mass transfer.
In the velocity distributions (Fig. 3a and b), the ROKSM process (Fig. 5a) exhibits a more complex and varied color pattern, indicating enhanced mixing induced by the KSM elements. The static mixers disrupt the laminar flow, creating regions of higher velocity and turbulence, which are absent in the standard RO process (Fig. 5(b)). In Fig. 5(b), the standard RO shows a predominantly uniform blue-green pattern, suggesting a more consistent but lower velocity profile, typical of laminar flow without mixing elements. This contrast highlights KSM’s role in promoting a more dynamic flow, which can reduce stagnant zones and enhance mass transfer.
The concentration distributions (Figs. 5(c) and 5(d)) further elucidate the effect of KSM on solute behavior. In the ROKSM process (Fig. 5(c)), the concentration varies between 13 and 16 mol/m³, with a more uniform distribution across the channel, indicating effective mixing that mitigates solute accumulation near the membrane surface. The presence of KSM elements disrupts the concentration boundary layer, preventing the pronounced red zones (higher concentrations) seen in the standard RO process (Fig. 5(d)), where concentrations reach up to 16 mol/m³ near the outlet. The standard RO shows a clear gradient, with increasing concentration along the flow path, reflecting severe concentration polarization due to the lack of mixing. This qualitative difference supports of reduction in concentration polarization with ROKSM, as the uniform concentration profile reduces the risk of fouling and enhances membrane performance.
Fig. 5
(a) Velocity distribution in ROKSM; (b) Velocity in standard RO; (c) Concentration distribution in ROKSM (lower wall CP); (d) Concentration in standard RO (higher wall CP).
As mentioned, Fig. 5 shows velocity distributions in (a) ROKSM and (b) standard RO, and concentration distributions in (c) ROKSM and (d) standard RO, confirming reduced CP in ROKSM.
Effect of Reynold number and row of KSM
Figure 6 compares the Sherwood number, pressure drop, and concentration distribution for different Reynolds numbers (Re) and the number of rows of the KSM. Figure 6(a) shows that the Sherwood number increases with an increase in the Reynolds number. The condition with three rows of KSM showed the highest Sherwood number, indicating better mass transfer performance compared to one row of KSM and without KSM. According to Fig. 6(a), the Sherwood number (Sh) is significantly higher in the ROKSM system compared to the standard RO process, especially with three rows of KSM. At Re = 300, the Sherwood number for ROKSM with three rows is approximately 1.6 times of the standard RO process. Even with one row of KSM, the Sherwood number is 1.3 times of the standard RO process. Figure 6(a) shows that the ROKSM system enhances mass transfer efficiency by up to significantly compared to the standard RO process, with three rows of KSM providing the best performance. Figure 6(b) represents that the pressure drop increased with an increase in the Reynolds number. The condition with three rows of KSM showed the highest pressure drop, indicating higher resistance to flow compared to one row of KSM and without KSM. At Re = 300, the pressure drop for ROKSM with three rows is approximately 4.7 times of the standard RO process. With one row of KSM, the pressure drop is 1.5 times of the standard RO process. While ROKSM improves mass transfer, it increases the pressure drop which is a trade-off that must be managed. Figure 6(c) depicts the concentration profile along the RO system enhanced with KSM (ROKSM) at Re of 100, 200, and 300, while Fig. 6(d) shows the same for a standard RO system without KSM.
The main findings underscore the effectiveness of KSM in improving RO performance. ROKSM reduces concentration polarization as evidenced by the lower outlet concentration. Higher Re values improve mixing in ROKSM, smoothing the concentration profile and reducing peaks, while in standard RO, they exacerbate polarization due to the lack of mixing. However, this comes with a higher pressure drop, a trade-off that requires further optimization. The lower osmotic pressure in ROKSM enhances the net driving force for water flux.
Fig. 6
Representing the relationship between: (a) the Sh number and the Reynolds number, (b) the pressure drops and the Reynolds number, and (c) and (d) the concentration along the length of the system with different Reynolds numbers.
The incorporation of KSM in the ROKSM configuration enhances mass transfer by disrupting the laminar flow typical of standard RO systems, as evidenced by the complex velocity patterns in Fig. 5(a). This disruption creates localized turbulence, which reduces the concentration boundary layer near the membrane surface, lowering concentration polarization and increasing the Sherwood number to (Fig. 6(a)). However, the KSM’s twisted geometry increases flow resistance, leading to a pressure drop approximately 4.7 times higher than that of standard RO at Re = 300 (Fig. 6(b)). This trade-off arises because the enhanced mixing requires additional energy to overcome the increased frictional losses within the feed channel. The 30-degree twist angle optimizes mixing by maximizing flow disruption, but it also results in the highest pressure drop, necessitating a careful balance between mass transfer gains and energy costs.
The ROKSM system increases water flux by 23%, from 13 L/m2 h for standard RO to 16 L/m²h at Re = 300, driven by reduced concentration polarization due to enhanced mixing by Kenics static mixers. The CFD model (Sect. 4) shows this through concentration profiles, with ROKSM exhibiting a uniform distribution ranging from 13 to 16 mol/m³, compared to standard RO’s pronounced gradient reaching 22 mol/m2 at the outlet wall. The outlet wall concentration is 13.5 mol/m³ for ROKSM and 16 mol/m2 for standard RO, with a bulk concentration of 13 mol/m2 (Table 3).
This reduction in wall concentration lowers the osmotic pressure, which, per Eq. (1), increases water flux. The hydraulic permeability is 2.74 m/h/bar, and the feed pressure is assumed at 60 bar, with a permeate pressure of 1 bar. The salt diffusion coefficient is 1.6 × 10–3m²/s, and the channel height is 1 mm (Table 3). The Sherwood number for ROKSM is 13.6, compared to 8.5 for standard RO, indicating enhanced mass transfer that reduces solute buildup at the membrane surface. The CFD model, validated with less than 5% error, confirms that ROKSM’s higher Sherwood number and lower wall concentration directly contribute to the 23% flux increase, as visualized in Fig. 5(c) compared to Fig. 5(d).
Investigating the impact of the angle of KSM
Sherwood number is an indicator of mass transfer performance. Higher Sherwood numbers represent better mass transfer efficiency. According to Fig. 7(a), the Sherwood number increased with the Reynolds number for all conditions. The KSM at a 30-degree angle showed the highest Sherwood number, indicating the best mass transfer efficiency. The KSM at a 90-degree angle showed a lower Sherwood number compared to the 30-degree angle but still higher than without KSM.
Figure 7(b) shows that the pressure drop increased with the Reynolds number for all conditions. The KSM at a 30-degree angle showed the highest pressure drop, indicating the greatest resistance to flow. The KSM at a 90-degree angle represented a lower pressure drop compared to the 30-degree angle but higher than without KSM.
Figure 7 shows that the KSM at a 30-degree angle provides the best mass transfer efficiency, as indicated by the highest Sherwood number. This suggests that the 30-degree angle is more effective at promoting mixing and enhancing mass transfer. In terms of flow resistance, the KSM at a 30-degree angle also results in the highest pressure drop, indicating increased resistance to flow. This is a trade-off that must be considered when optimizing the process.
The angle of the KSM has a significant impact on both mass transfer efficiency and flow resistance. While a 30-degree angle provides the best mass transfer, it also increases the pressure drop. Therefore, the angle should be optimized based on the specific requirements of the process, balancing mass transfer efficiency and flow resistance. Overall, the analysis highlights the importance of the angle of the KSM in optimizing the RO process. Adjusting the angle can significantly impact the performance, and careful consideration is needed to achieve the desired balance between efficiency and resistance. Figure 8 represents the velocity and concentration distribution for different 30- and 90-degrees positions of the mixers.
Fig. 7
Relationships between: (a) Sh number and Reynolds number, and (b) pressure drop and Reynolds number, in a standard RO system and ROKSM with different angles.
Fig. 8
Representing the velocity and concentration for two different 30- and 90-degree positions of the mixer.
Integration of tidal energy with ROKSM desalination
In this section, the effect of integrating ROKSM with tidal energy is investigated (ROTE-KSM). First, the range of power that can be harnessed from tidal energy is determined. This power is then utilized to drive a feed pump. The outlet pressure of the pump is considered the feed flow pressure, which is then supplied to the ROTE-KSM system. Table 4 represents the several tidal stream generator sites according to their capacity and scale. Figure 6 illustrates the outlet pressure of the pump as a function of different tidal power sites, considering a flow rate range between 300 and 1000 m³/h. This figure is generated using Aspen Plus V12.
As expected, an increase in flow rate results in a decrease in outlet pressure. For a power input of 600 kW, the outlet pressure ranges between 55 and 17 bar. At 1000 kW, the pressure varies from 91 to 28 bar, while for 1700 kPa, it ranges between 153 and 46 bar. In all three cases, the generated pressure is sufficient for RO applications. However, it is important to note that RO membranes have an upper-pressure limit due to structural constraints. With this renewable energy source, the primary concern is the minimum pressure required to effectively utilize tidal energy for pressure generation and overcome the osmotic pressure of the feed flow. Some studies consider the maximum feed pressure to be below 80 bar. Therefore, in this study, we investigate feed pressures ranging between 17 and 80 bar, which falls within the pressure range available from tidal power. The minimum and maximum pressures within this range are presented in Fig. 9.
Table 4 Different worldwide tidal stream generator sites.
Fig. 9
(a) Effect of feed pressure on Sherwood number for both RO and ROKSM systems, (b) effect of feed pressure on pressure drop for RO and ROKSM systems, and (c) effect of feed flow rate on outlet pressure at different pump powers.
To clarify the integration of tidal energy with the ROKSM system, we define an operating condition for the primary CFD analysis at Re = 300, where key results are reported (Sherwood number of 13.6, 23% flux increase from 13 to 16 m/h). For a 10,000 m2/day (3.65 million m³/year) desalination plant, we select a feed flow rate of 500 m2/h (within 300–1000 m2/h, Sect. 5.4) and a feed pressure of 60 bar (within 17–80 bar, Table 3), typical for seawater RO with an inlet salinity of 13 mol/m2 (Table 3). The ROKSM system’s 4.7-fold higher pressure drop (Fig. 4b) requires a total pressure of ~ 63.5 bar (60 bar feed + 3.5 bar drop), compared to ~ 61 bar for standard RO (60 bar + 1 bar drop). The pump power (P), calculated as:
$$:P=frac{Q.varDelta:P}{eta:}$$
(12)
With flow of Q = 500 m3/h (0.1389 m2/s) and efficiency of η = 0.85, is ~ 1000 kW for ROKSM and ~ 990 kW for standard RO, well within the 600–1700 kW provided by tidal power sites (Table 4), as shown in Fig. 6c.
The table below summarizes operational process parameters for the feed, permeate, and brine streams in both systems at Re = 300, providing insight into the desalination process. Inlet and outlet pressures, temperatures, and flow rates are based on the CFD model, with permeate pressure assumed at 1 bar (ambient) and temperature at 25 °C (isothermal model). The brine flow rate is estimated assuming a 40% recovery ratio (typical for seawater RO), where permeate flow is 40% of the feed flow, and brine flow is the remainder.
Table 6 Operational information of the plant.
The ROTE-KSM system integrates tidal energy with the KSM-enhanced RO process to achieve a sustainable and efficient desalination solution. The CFD-based analysis evaluates the mass transfer performance of the ROKSM system across a range of feed pressures (17–80 bar), which aligns with the pressure output from tidal stream generators (Table 4; Fig. 6). This range accounts for the time-dependent nature of tidal energy, which varies with tidal cycles approximately every 12 h22,23. To address the reviewer’s concern about the unrealistic operation of RO at varying pressures, we incorporate energy storage and pressure regulation mechanisms to ensure stable RO operation.
Tidal stream generators harness kinetic energy from tidal currents, producing power outputs ranging from 600 to 1700 kW at sites such as Bluemull Sound (Scotland), Uldolmok (South Korea), and Zhejiang (China) (Table 4). Using Aspen Plus V12, we modeled the outlet pressure of the feed pump as a function of flow rate (300–1000 m³/h), yielding pressures of 17–153 bar (Fig. 6). To mitigate the variability in tidal energy output, the system employs energy storage solutions, such as batteries or pumped storage hydropower, to store excess energy during peak tidal flows and release it during low tides. Additionally, variable frequency drives (VFDs) on high-pressure pumps regulate feed pressure to maintain optimal RO performance, ensuring that pressures remain within the operational range of 50–80 bar required for seawater desalination. This approach ensures consistent operation despite tidal fluctuations.
The CFD model evaluates the ROKSM system’s performance across a range of feed pressures (17–80 bar) to account for potential variations in tidal energy supply. The model assumes a feed pressure of 60 bar as a baseline (Sect. 5.3), with a hydraulic permeability of 2.74 L/m²h/bar and a salt diffusion coefficient of 1.6 × 10⁻⁹ m²/s (Table 3). The results show that the ROKSM configuration with three rows of KSM at a 30° twist angle achieves a Sherwood number of 13.6 and a 23% increase in water flux (from 13 to 16 L/m²h) at Re = 300, even under varying feed pressures (Fig. 6). The model’s robustness across this pressure range demonstrates the system’s adaptability to tidal energy fluctuations, ensuring reliable performance.
By combining tidal energy with KSM, the ROTE-KSM system achieves a 1.6-fold increase in the Sherwood number (from 8.5 to 13.6) and a 23% increase in water flux, reducing concentration polarization (Sect. 5.6). The use of renewable tidal energy eliminates reliance on grid electricity, lowering carbon emissions to 2.4 kg/m³ (Sect. 5.6). The higher pressure drop in ROKSM (4.7 times that of standard RO at Re = 300, Fig. 4b) is mitigated by Energy Recovery Devices (ERDs), which recover up to 95% of the energy from the high-pressure brine stream (Sect. 2.2), resulting in a net specific energy consumption (SEC) of 2.2–2.5 kWh/m³, comparable to or lower than standard RO (2.5–3 kWh/m³). The integration of energy storage and pressure regulation ensures that the system maintains optimal performance, making tidal energy a practical and sustainable power source for RO desalination.
Energy trade-off analysis for ROKSM system
The integration of KSM in the ROKSM configuration enhances mass transfer, achieving a 1.6-fold increase in the Sherwood number and a 23% increase in water flux (from 13 to 16 m/h), as shown in Fig. 6(a). However, this improvement incurs a higher pressure drop, with ROKSM with three rows exhibiting a pressure drop 4.7 times that of standard RO at Re = 300 (Fig. 6b). To evaluate the sustainability of the ROKSM system, the energy penalty of the increased pressure drop against the energy savings from improved water flux was analyzed.
The energy required by the feed pumps is proportional to the pressure drop and flow rate. For ROKSM with three rows, the 4.7-fold increase in pressure drop translates to an estimated additional energy demand of around 0.5–1 kWh/m³ compared to standard RO (according to try and error experience of real plants), assuming a baseline specific energy consumption (SEC) of 2.5 kWh/m³ for seawater RO. However, the 23% increase in water flux reduces the volume of water that must be processed to achieve the same freshwater output, lowering the effective SEC by approximately 0.4–0.6 kWh/m³. Additionally, the use of Energy Recovery Devices (ERDs), which recover up to 95% of the energy from the high-pressure brine stream, further mitigates the energy penalty30.
When powered by tidal energy (600–1700 kW, Table 4), the ROKSM system leverages a renewable energy source with a low operational cost and reduced carbon emissions (2.49 kg/m³)31. Preliminary calculations indicate that the net SEC for ROKSM remains comparable to or lower than that of standard RO (2–2.5 kWh/m³ vs. 2.5–3 kWh/m³), ensuring net energy savings. The integration with tidal energy eliminates reliance on grid electricity, enhancing the system’s sustainability. To optimize this trade-off, future work will explore intermediate KSM configurations (two rows or adjusted twist angles) to balance mass transfer efficiency and pressure drop, ensuring maximum energy efficiency for scalable applications.
While Sh increases 1.6-fold, the 4.7-fold ΔP imposes a significant energy penalty. Frictional losses in the feed channel (~ 20% of ΔP) are unrecoverable by ERDs, which only reclaim brine energy (efficiency 95%32. Net SEC rises by ~ 1.2 kWh/m2, tempering flux gains to 15% effective according to Eq. (13):
This highlights the need for optimized KSM designs to balance benefits.
Economic assessment of ROKSM system
To evaluate the economic viability of the ROKSM system, we estimate the Levelized Cost of Water (LCOW), calculated by Eq. 4, for a 10,000 m³/day plant and compare it to a conventional RO system33. The ROKSM system achieves a 23% higher water flux (16 m/h vs. 13 m/h), reducing the required membrane area by 18.75% (from 32,051 m² to 26,042 m²). This lowers capital costs for membrane modules, despite higher costs for tidal energy infrastructure and pumps to handle the 4.7-fold pressure drop increase (Fig. 6b).
where Total Annualized Cost includes annualized capital expenditure (CapEx) and operational expenditure (OpEx).
ROKSM achieves 16 m/h vs. 13 m/h for standard RO (23% increase). Additionally, a specific energy consumption (SEC) of 2–3 kWh/m³ for standard RO was estimated in the previous section. For ROKSM, the 4.7-fold pressure drop increase (Fig. 6b) adds ~ 0.5–1 kWh/m³, but the 23% flux increase and ERDs (95% recovery) yield an estimated SEC of 2–2.5 kWh/m³. for operational cost, ROKSM’s cost is around 0.5582 $/m³, likely including tidal energy’s lower cost compared to grid electricity (~ 0.1–0.15 $/kWh for grid vs. ~0.05 $/kWh for tidal, assumed based on renewable energy trends).
In terms of plant capacity, a medium-scale RO plant producing 10,000 m³/day (3.65 million m³/year) was assumed, typical for seawater desalination (aligned with flow rates of 300–1000 m³/h)34. For membrane Area, the 23% flux increase reduces the required membrane area for ROKSM. For standard RO at 13 m/h, producing 10,000 m³/day requires an area of:
Through carry over a comparison, ROKSM’s LCOW (0.403 $/m³) is ~ 29% lower than standard RO’s (0.568 $/m³), driven by lower energy costs (tidal vs. grid) and reduced membrane area, despite higher CapEx from tidal infrastructure and pressure drop. Table 5 represents the above results.
Table 5 Economic analysis between standard RO and the proposed ROKSM model.
According to the costs sourced from IRENA36, Tidal CapEx $3-5 M/MW, OpEx 2–3% annually and Battery storage $250–350/kWh24. In terms of sensitivity analysis (Monte Carlo, 1000 runs), LCOW varies 0.45–0.65 $/m2 with ± 20% on energy/storage costs and tidal variability (sinusoidal cycles). Base LCOW 0.52 $/m2 18% lower than standard RO (0.63 $/m³), but rises to 0.65 $/m2 with high intermittency.
