Search Result for : Foreign Trade Ft

Customs prohibits Red Sanders from being imported

The Dollar Business Bureau Red Sanders wood, an endangered species of flora protected under the Convention of International Trade in Endangered Species(CITES) of Flora and Fauna, has been prohibited from being imported by the Directorate General of Foreign Trade. Earlier this wood was free to be brought into the country, but the government has through a notification specified that it has shifted imports of this wood from free to the prohibited category. Red Sanders in India is found mainly in the Seshachalam hill ranges spread across the Rayalseema and Nellore regions of Andhra Pradesh. Possession or selling of this prized wood is considered to be illegal. This wood has a huge demand in the markets of Japan and China as it is valued for its ...

LIBOR to be phased out by 2021!

By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...

Number of issued O visas tripled in the past decade: US Senator

The Dollar Business Bureau A top US Senator on Tuesday alleged that the potential applicants for H-1B visa are being guided to apply for O visa programme instead of the H-1B, which is numerically restricted and meant for highly-skilled workers to avoid legal limitations on employment visas. H-1B visa is issued to international guest workers having high skilled capabilities, while O visas are intended for those having extraordinary capabilities or who have demonstrated extraordinary achievement record. Unlike most of the visa categories, O visa programme has no restriction on its numbers. Mentioning some media reports, Senate Judiciary Committee Chairman Senator Chuck Grassley, said that the number of visas issued under the O visa programme in the last decade has increased ...

Marginal growth in core sector industries; Cotton sowing pushes up Kharif sowing acreage; Forex reserves hit life-time highs

By Abin Daya Change is an unavoidable part of life - and of doing business. One of the biggest changes to the way we do business happened last Friday, with the rolling out of the GST. Yes, there will be disruptions in the short term and the cost of compliance will go up. Also, many small businesses will lose the tax arbitrage that enabled them to price below that of the larger companies. It will also increase the financing cost of business, particularly for those engaged in foreign trade. Speaking of financing, even that is not going to be easy. While credit growth is down because of low credit demand driven by the leveraged position of corporates combined with muted demand, even where businesses ...

Chinas exports, imports rise in April

The Dollar Business Bureau The exports and imports of China increased in the month of April, as foreign and domestic demand weakened and there was a decline in commodity prices. In April, China's exports surged 8% compared to the previous year, missing analysts' predictions, whereas imports expanded 11.9%, an official data revealed on Monday. This has left $38.05 billion of trade surplus for the country in the given month, China’s General Administration of Customs revealed. In March, the country’s exports grew 16.4% and imports rose 20.3%. China's trade surplus in the month of March stood at $23.93 billion. Last week, the Chinese Ministry of Commerce, in its quarterly report, said that the country’s exports and imports are likely to be stabilised and improved in near future. Foreign ...

Japan posts robust export-import growth in March 2017

The Dollar Business Bureau Overriding its tapering domestic economy, Japan's foreign trade in the month of March boosted the overall performance of the world's third largest economy. The Japanese administration announced that exports grew more than the expected 12% while imports jumped 16% year on year during March 2017. A revival of stability in Chinese economy supplemented by a gradually normalising global demand has given Japan much reason to cheer. A trade surplus of $5.6 billion was registered in the month of March as exports grossed $66 billion approximately while imports rose to about $60 billion. Japanese exports to China reached $11 billion, showing a whopping 16.4% growth from the same month in the previous year, although the double digit growth is mostly because of a one-month shift in the Lunar New ...

Growth in economic activity and trade overshadowed by rising deficit

Abin Daya the author of 'Basics of Trade: An India Perspective' is a FEMA expert, a career transaction banker, with close to 15 years of experience in corporate and transaction banking, in India. By Abin Daya Well, the effect of that abysmal performance of the core sector had to have some effect on the IIP. IIP numbers have come in at the lowest in 4 months with -1.2% growth. However, the coming months might give us some respite considering the improvement in economic activity during the month of March. And speaking of March, we have got a second consecutive month of double digit export growth during the month, and that has helped us pull off a positive growth in annual export figures after ...

Major Indian ports show 6.8% growth in cargo handled during 2016-17

The Dollar Business Bureau  According to information released by the Ministry of Shipping, the government-managed ports have outperformed the private ones with respect to growth in the volume of cargo handled during FY 2016-17. While the private ports registered a growth rate of 4%, the public ports grew by 6.79% annually, as against 4.32% in the previous year. Collectively, the twelve ports managed by the Ministry of Shipping handled 647.43 MT (million tonnes) of traffic during the year.  Individually, Kandla Port handled 105.44 Million Tonnes of cargo, securing the position of the largest volume handler and growing at 5.39%. Paradip Port stood second with 88.95 Million Tonnes of volume, registering a high growth rate of 16.45%. Growing at 3.17%, the Mumbai port bagged the third place with 63.05 Million Tonnes of cargo handled.  The Jawaharlal Nehru Port (JNPT), India's largest container port ...

Quiz Import and Export