# Turkiye

• Turkiye President Recep Tayyip Erdogan won re election on Sunday.
• This victory has extended his extending authoritarian rule into a third decade as the country reels from high inflation and the aftermath of a earthquake that levelled entire cities.
• A third term gives Erdogan an even stronger hand domestically and internationally and the election results will have implication far beyond.
• Turkiye stands at the crossroads of Europe and Asia, and it plays a key role in NATO.

# China

• China’s first domestically made passenger jet flew its maiden commercial flight on Sunday.
• China looks to compete with Industry giants such as Boeing and Airbus in the global aircraft market.
• The C919 plane, built by the commercial aviation corporation of China, carried about 130 passengers on the flight according to Chinese state media.
• The company plans to build 150 C919 planes each year for the next five years.

# Supply chain

• In a breakthrough for the block that came up to reduce dependence on China, 14 countries including the US, India, Australia, Japan, Indonesia and Malaysia have on Saturday announced “substantial conclusion of negotiations” on supply chains agreement on the Indo Pacific Economic framework (IPEF).
• The supply chain pillar is aimed at ensuring that the countries, which are part of IPEF, co operate to deal with situations, such as shortage of raw materials and others.
• A crucial element will be the labour rights in the supply chains, which may raise some tensions in the coming years.

# Container prices

• Container prices which have been on the boil for the last three years have crashed nearly 40% year on year, giving a much needed breather to India Inc on freight costs.
• Average container prices in the country dropped to $2088 to $3288 in March.