Month: February 2023

Feb 27

Kenya Ports Authority digitalises cargo processing services

KENYA : To meet the administration’s goal of turning paperless in its operations, the Kenya Ports Authority (KPA) has moved its cargo handling services to the government site e-Citizen. “The move will increase efficiency as we can track our transactions and identify whenever there’s a delay. We are asking the government to move to other state agencies to make our ports efficient to reduce the cost of handling cargo,” stated Shippers Council of Eastern Africa (SCEA) Chief Executive, Gilbert Lagat. Read Full Details…

Feb 27

Adani Ports cross 300 million tonnes Cargo volumes to beat its own milestone

AHMEDABAD : Adani Ports and Special Economic Zone, a part of the diversified Adani Group, crossed 300 million tonne of cargo handling, thereby beating its own milestone. It took 329 days to reach the milestone, as compared to last year’s 354 days. The ports business of Adani Goup has registered growth since it started operations over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly. “The improvement in cargo volumes is Read Full Details…

Feb 27

USD 523.8 million worth of onions exported from April to December 2022

NEW DELHI : USD 523.8 million worth of onions was exported from April to December 2022. Government has not restricted or prohibited the export of onion. The extant export policy of onions is ‘Free’. Only the export of onion seed is ‘Restricted’ and that too is permitted under Authorisation from DGFT. DGFT vide Notification No. 50 dt. 28.12.2020 amended export policy of Onion (of all varieties) in cut, sliced or broken in powder form and Bangalore Rose onions and Krishnapuram Read Full Details…

Feb 26

Pressure on Kishida to boost economy after nominating new BOJ chief

TOKYO – After naming his choice for the Bank of Japan’s next governor, who is expected to pave the way for an eventual normalization of monetary policy, Prime Minister Fumio Kishida is likely to be urged to take steps to boost the flagging economy to prepare for such a transition. Should the central bank try to taper its purchases of government bonds, long-term interest rates would rise and debt prices fall. That would discourage companies and households from borrowing and Read Full Details…

Feb 26

The Richest Countries In Europe

Financial dominance is rare in isolated kingdoms spread to the corners of the Earth; instead, nations that network together – thrive together. These 15 richest European countries, as demonstrated by their high GDP per capita (PPP), showcase a unique range of interconnected cultures, industries, and lifestyles. To accurately evaluate the regional standing of these countries, two metrics are essential: Purchasing power parity (PPP) and gross domestic product (GDP). PPP is measurable by the price of certain goods in each country, Read Full Details…

Feb 26

Niger is Africa’s fastest growing country – how to feed 25 million more people in 30 years

Niger, a landlocked country in the dry Sahel region of Africa, struggles to feed its 25 million people. It currently ranks 115th out of 121 countries on the Global Hunger Index, and the number of people not getting enough to eat has increased from about 13% of the population in 2014 to 20% in 2022. Things could deteriorate even further as Niger confronts a “perfect storm”. The country has one of the highest population growth rates in the world, with Read Full Details…

Feb 26

Germany’s Scholz committed for Free Trade deal between India, EU

German Chancellor Olaf Scholz said on Saturday that he and India’s Prime Minister Narendra Modi were committed to sealing a free trade deal between India and the European Union (EU). “It’s an important topic and I’ll get personally involved,” Scholz said after his meeting with Modi in New Delhi. The EU and India revived negotiations to forge a free trade agreement last year with the aim of completing talks by the end of 2023. For the EU, a free trade Read Full Details…

Feb 26

DGFT Exempts Cashew EoUs & SEZ Units from Minimum Import Price Requirement, Upsets Industry

Government has amended the raw cashew nut import policy to exempt export-oriented units and processing units operating from Special Economic Zones (SEZ) from the minimum import price (MIP) requirement. In response, the industry stated that the policy change would be detrimental to domestic players because it would allow cheaper imports. In a notification issued on few days ago, the Director-General of Foreign Trade (DGFT) stated that the MIP on cashew kernel brokens and whole nuts will not be applicable for Read Full Details…

Feb 21

Global slowdown may derail momentum

KUALA LUMPUR: Malaysia kicks off 2023 with another commendable trade performance but economists warn that the momentum may not last for long given the looming global slowdown. They said the country’s total trade, which grew nearly two per cent year-on-year (y-o-y) to over RM207 billion in January, remained robust although export growth was moderated sharply to a 27-month low. “Malaysia’s export performance has been commendable especially on the back of high base last year as well as uncertainties over global Read Full Details…

Feb 21

Why cross-border e-commerce is good news for Chinese brands

Cross-border e-commerce is playing an increasingly vital role in stabilizing China’s foreign trade and economic growth amid the recovery from the COVID-19 pandemic’s impacts, even as the external environment continues to present headwinds. Market observers attribute this trend to more and more Chinese vendors selling their products globally through cross-border e-commerce platforms. As a new form of foreign trade, cross-border e-commerce has emerged as a key pathway to mitigate the impact of the pandemic on foreign trade. It is also Read Full Details…