Our daily gastro-trip around the world

🫒 The global olive oil industry is experiencing one of its toughest moments, per a top executive. Spain, Greece, and Italy – which collectively produce ~80% of the world’s olive oil – have experienced a series of droughts and wildfires in recent years, leading to current olive oil shortages and record-high global prices. Experts say the industry’s 2024-25 outlook is still uncertain, meaning global prices will continue to be volatile for several months. The recent issues have contributed to making olive oil the most stolen item from supermarkets in Spain.

🇹🇷🇮🇱 Turkey suspended all trade ties with Israel. The Turkish trade ministry cited the "worsening humanitarian tragedy" in the Palestinian territories as its reason for pausing trade between the two nations, who had a trade volume of $6.8 billion in 2023. Israeli officials accused Turkish President Tayyip Erdogan of breaking trade agreements, and said Israel will ramp up local production and other imports in response.

🇲🇾🇮🇩 Microsoft announced new AI projects in Malaysia and Indonesia. Microsoft unveiled plans to establish a national AI center in Malaysia, which is aimed at improving data center infrastructure and AI skills across the country as part of a $2.2 billion investment over the next four years. The US tech giant also agreed to invest $1.7 billion in Indonesia over the same period, as part of its overall goal of upskilling 2.5 million people in Southeast Asia by 2025.