It was only many years later that we learnt about the atrocities and the inhuman ways the natives of the Amazon Valley were subjected to by the white barons to develop exporting of natural rubber to Europe to provide the main raw material for the automotive tyre industry which was gradually evolving in to a flourishing industry. The inventing of synthetic rubber in the late 1940s and the development of SBR  due to the short supply of natural rubber from the colonies  in the East to cater for the growing demand for tyres used in the military vehicles during the Second World War and the Korean War is another episode of beyond the border commercial endeavours.

Although the word ‘globalisation’ was coined by Theodore Levitt in 1983 through an article ‘Globalisation of Markets’ which appeared in the Harvard Business Review  (May-June 1983), I feel that we should go way back in the annals of history to get an understanding of the term. This knowledge may not look attractive to the modern business world. Nevertheless, the sociologists and others of similar disciplines will certainly find such knowledge useful in comprehending the modern day socio-economic woes.

Origins of globalisation may possibly be traced back to early human migrations, presumably from the Olduvai George Gorge, a site in Tanzania that holds the earliest evidence of human ancestors. Human migration is the movement of people from one place to another, particularly different countries, with the intent of settling temporarily or permanently in the new location. It typically involves movement over long distances. The driving motive, namely seeking dominance over fellow men and exploiting the natural environment to achieve success, does not seem to have changed over the millions of years.

The emergence of the great civilisations, e.g. Indus Valley, Mesopotamia, and their subsequent decline can be attributed to globalisation. Similarly, the invasions and cross-border military conquests of historical fame (or notoriety) such as that of Alexander the Great and colonisation by the West for the exploitation of natural wealth in Asia, Africa and South America reveals an ugly facet of globalisation.

The Silk Route interlinking East Asia and Southeast Asia with South Asia, Persia, the Arabian Peninsula, East Africa and Southern Europe, on the other hand, was central to the economic, political, cultural and religious interactions between these regions form 2nd century BCE to the 18th century.

The industrialisation and expansion of business and commerce across countries during the past 300-plus years was fuelled by the four industrial revolutions, or waves as some prefer to identify them, namely steam power, conveyor system, computers and digitalisation. The process is continuing to the unforeseeable future with new knowledge and innovations fuelling the globalisation.

The multifaceted nature of globalisation has commonly been identified into eight types as shown below:

•           Political Globalisation

•           Social Globalisation

•           Economic Globalisation

•           Technological Globalisation

•           Financial Globalisation

•           Cultural Globalisation

•           Economic Globalisation

•           Geographical Globalisation

My intention is not to delve in to a discussion about the pros and cons of globalisation, which has been comprehensively documented, but to highlight on some key aspects from this part of the world, especially of the Asian subcontinent.

Knowledge dissemination across border, in my view, is the single most important factor associated with globalisation. This appears common to all the above types of globalisation. The dissemination of the Buddhist doctrine by the great Emperor Asoka to countries spreading from the far East to the Central Asia and Middle East including the present Sri Lanka during 3rd century BCE is one of the earliest recorded instances of globalisation.

Countries with long histories going back to 3,000 to 4,000-plus years, such as India, China and Sri Lanka, possessed a vast knowledge base ingrained in the social consciousness. This appears to have significantly influenced the philosophical and intellectual thought of the Greek and Persian periods. Unfortunately, a major part of this knowledge has been eroded through the influence of the West, which started around the 16th century. One good example of this knowledge found in the ancient irrigation knowledge of Sri Lanka is the engineering  marvel of a gradient of 1 inch per mile in an ancient canal about 87 km long,  built to connect two man-made reservoirs in the 5th century AD. Similarly, India and Sri Lanka possessed a vast indigenous knowledge base in medicine, astrology, architecture, agriculture, irrigation and astrology, and it is somewhat unfortunate that this knowledge has not been adequately globalised. The only significant inroads are seen in tourism. But that too are based on the western norms.

On the other hand, we have acquired a vast knowledge from the industrialised countries on modern management thoughts and technologies which have enabled industrialisation and improvement in living conditions of the populace. In this era of interdependency, a country cannot afford to ignore the technologies which are necessary to maintain a suitable level of competitiveness internationally. However, if this is accomplished at the expense of ignoring the inherent social and cultural foundations, the long-term adverse consequences would be disastrous and unimaginable.

The adverse long-term consequences of the use of chemical fertilisers and pesticides and the global addiction to pharmaceuticals are already seen physically and socially in practically all the countries, especially the so called underdeveloped or developing countries.

The aftermath of the Covid-19 pandemic and the irreversible effects of global warming are two examples of globalisation which are affecting the mere sustenance  of mankind.

A country can immensely benefit by striving for stars through adopting modern technologies. However, the absolute importance of a strong base cannot be ignored or taken lightly. Back to a strong base and reinforcing the base lies at the core of sustainable development.

The words of Mahatma Gandhi echoing from the past reaffirm this plain truth in no uncertain terms.

“I do not want my house to be walled in on all sides and my windows to be stuffed. I want the cultures of all lands to be blown about my house as freely as possible. But I refuse to be blown off my feet by any.”

“What's past is prologue," a quote from William Shakespeare's ‘The Tempest’ presumes that though history is written, the future is anyone's to decide – with the knowledge gleaned from the past. (TT)

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The Goodyear Tire & Rubber Company reported a net loss of USD 249 million for the first quarter of 2026, as weaker consumer demand and higher raw material costs weighed on performance across key markets.

The US tyre manufacturer posted net sales of USD 3.9 billion for the quarter, down from USD 4.3 billion a year earlier, while tyre unit volumes fell to 34 million from 38.5 million.

Goodyear reported a loss of USD 0.86 per share, compared with net income of USD 115 million, or USD 0.40 per share, in the same period last year. Adjusted net loss widened to USD 112 million from USD 11 million a year earlier.

“The first quarter reflected a challenging environment, marked by weak consumer industry demand in both OE and replacement across the majority of our key geographies,” said Mark Stewart, Chief Executive and President of Goodyear.

“Despite a weak environment, our first quarter results were in line with our expectations and reflect our commitment to drive value for our brands in the marketplace, where we offer world-class differentiated products and services.”

Stewart said rising raw material costs linked to the conflict in the Middle East and continued pressure on industry demand would require further action to strengthen the company’s cost structure.

Segment operating income fell to USD 95 million from USD 195 million a year earlier. The decline reflected lower volumes and inflationary pressures, partly offset by benefits from the company’s Goodyear Forward restructuring programme, favourable price and raw material mix, and a tariff-related adjustment.

The Americas business reported first-quarter sales of USD 2.1 billion, down 17.5 percent from the previous year. Replacement tyre volumes declined 23.2 percent amid weak market conditions in North America, increased promotional activity and the planned rationalisation of lower-tier products.

Segment operating income in the Americas fell to USD 37 million from USD 155 million a year earlier.

In Europe, the Middle East and Africa, net sales rose 6.7 percent to USD 1.4 billion, supported by currency movements and price mix, despite lower tyre volumes and the sale of the Dunlop brand. Segment operating income improved to USD 1 million from a loss of USD 5 million in the prior year.

Asia Pacific reported sales of USD 455 million, down 4 percent from a year earlier due to weaker original equipment demand in China. However, segment operating income rose to USD 57 million from USD 45 million, supported by pricing and restructuring benefits.

Goodyear said its Goodyear Forward transformation programme delivered USD 107 million in benefits during the quarter.

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Continental has released a new White Paper titled ‘Enhancing Fleet Reliability Through Digital Tire Management – Safety by Continental’, which addresses how logistics companies across the European Union can reduce operational risks amid persistently high fuel costs and ongoing geopolitical uncertainty. For fleets operating cross-border and long-haul routes, volatile energy prices and tight delivery schedules leave little room for unexpected disruptions, prompting a closer look at tyre safety as a critical but often overlooked factor.

Under growing cost pressure, many logistics operators are reassessing areas where risks can still be actively managed. Vehicle safety, particularly the condition of tyres, is no longer seen solely as a compliance issue but as a direct influence on efficiency, uptime and cost control. Tyres affect stability, braking and fuel consumption, yet issues like pressure deviations and heat buildup can go unnoticed between manual inspections. When tyre problems arise on the road, they often result in breakdowns, delivery delays and expensive roadside repairs, which are especially damaging to EU-wide logistics operations.

The White Paper notes a significant shift among European fleets towards continuous, data-driven tyre safety strategies instead of reactive fixes. Digital monitoring systems are being adopted to detect risks early and integrate tyre condition into planned maintenance. Continental’s ContiConnect system is highlighted as a practical example, using in-tyre sensors to continuously track pressure and temperature. The system provides fleet-wide visibility and automated alerts when values exceed set thresholds, enabling timely intervention before tyre issues cause route incidents.

Real-world fleet experience cited in the White Paper shows that continuous tyre monitoring delivers measurable gains, including fewer tyre-related breakdowns, better fuel efficiency from optimised pressure and longer tyre life. For logistics operators working across multiple EU countries, these improvements lead to more predictable routes, fewer unplanned stops and greater delivery reliability. While fleets cannot control fuel prices or geopolitical events, the paper emphasises that safety-critical asset management remains within their control, making tyre safety a core part of operational risk management in a challenging environment.

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Service Long March Tyres has received approval from the Pakistan Stock Exchange for an initial public offering of 389.7 million shares as the Pakistan-China joint venture seeks to raise USD 28.6 million to expand into passenger car tyre production, as per a media report.

SLM Tyres, as per Arab News, said the proceeds would be used to establish a Passenger Car Radial manufacturing facility, with commercial production expected to begin in January 2028.

The company said the plant would initially produce 2m tires annually, with capacity expected to rise to 2.5 million units in the 2029 financial year and 3m units by FY2030.

Founded in 2020, SLM Tyres is a joint venture between Service Industries Limited, Chaoyang Long March Tyre Company Limited and Myco Corporation. The company manufactures truck and bus radial tires for heavy commercial vehicles using Chinese technology and local production facilities in Pakistan.

“SLM has successfully established itself as a credible local manufacturer in the commercial tyre segment,” said Arab News quoting Chief Executive Officer Omar Saeed.

“With this IPO, we are entering a new phase of growth, expanding into passenger car tires and contributing to Pakistan’s industrial development through localization and export expansion.”

The shares on offer will represent 5 percent of the company’s post-IPO paid-up capital and will be issued at a floor price of PKR 14.25 per share, the company said. The offer price could rise by as much as 40 per cent to PKR 19.95 per share depending on investor demand.

SLM Tyres said 75 percent of the offering would be allocated to institutional investors through book-building, with the remaining 25 percent offered to retail investors at the strike price.

The book-building process is scheduled to take place in May.

The company said the expansion would help reduce Pakistan’s reliance on imported tires and strengthen domestic manufacturing capacity.

“This offering provides investors access to a high-growth manufacturing platform that is already demonstrating strong scale-up and export capability,” the statement quoted Arif Habib Limited Chief Executive Shahid Ali Habib.

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The Bridgestone Americas Trust Fund has announced over USD 1.13 million in grant funding for the first half of 2026, with more than USD 575,000 directly supporting nonprofit organisations across Middle Tennessee. These community impact grants underscore the company’s enduring dedication to the regions where it operates, fosters innovation and employs thousands of team members.

In Nashville, priority area grants included USD 100,000 for road safety initiatives alongside the Civic Design Center and another USD 100,000 for the capital-building campaign of Second Harvest Food Bank. On a national level, the Trust Fund sustained multi-year partnerships by awarding USD 130,000 to Truckers Against Trafficking and USD 150,000 to Techforce Foundation, efforts that uphold human dignity, combat human trafficking and expand automotive workforce access through scholarships and development programmes.

Established in 1952, the Bridgestone Americas Trust Fund draws on over seven decades of charitable giving, evolving with the company’s business while remaining grounded in the belief that strong communities drive long-term success. Earlier in 2026, Bridgestone Corporation was named the highest-ranked tire manufacturer on the Forbes Best Brands for Social Impact list, securing the 20th spot among the nation’s top 300 brands.

Wade Munday, Director – Corporate Philanthropy and Social Impact, Bridgestone Americas, said, “Community investment is not separate from our business – it’s part of how we operate as one of the world's largest tyre manufacturers. Through these grants, we’re helping support organisations that understand their communities deeply and are delivering real, measurable impact. That’s true whether the work is happening in our hometown of Nashville or in communities across the country where our teammates move, live, work and play.”

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