Posts in category

Parallel imports


Freshly re-elected French President Emmanuel Macron was quick to call for a big reflection on the future of Europe this week, arguing that the Russia-Ukraine crisis had shown the need for a “process of historical reflection”. In a speech to the European Parliament in Strasbourg two days after being sworn in for a second term …

Oil Updates — Crude Climbs; US drillers add oil and gas rigs; EU proposes changes to planned Russian embargo RIYADH: Oil prices rose nearly 1.5% on Friday, posting a second straight weekly increase as looming EU sanctions on Russian oil raised fears of a supply crunch and prompted traders ignore concerns about global economic growth. …

To print this article, all you need to do is be registered or log in to Mondaq.com. Recently, Vietnam decided to impose anti-dumping duties on monosodium glutamate (MSG) products originating from Indonesia and China. Decision to impose anti-dumping duties on MSG products classified under HS code 2922.42.20 originating in Indonesia and China, based on the …

The Central Bank of Nigeria (CBN) has blamed Nigerians’ reliance on imports as the cause of the country’s naira devaluation.The apex bank is therefore urging Nigerians to adopt homemade products to boost the Nigerian economy and prevent the naira from further depreciating in the parallel market.CBN’s Director of Corporate Communications, Mr. Osita Nwanisiobi, recently revealed …

German Economy and Climate Minister Robert Habeck said on Sunday he expected his country to be fully independent of Russian crude oil imports by the end of the summer. The Economy and Climate Ministry said the goal was “realistic” in a tweet. In a statement, Habeck said Germany, Europe’s largest economy, had already reduced its …

As rebels in Myanmar and Balochistan target Chinese projects, Beijing faces a dual problem in implementing China-Pakistan Economic Corridor and China-Myanmar Economic Corridor A 6-lane highway built as part of the China-Pakistan Economic Corridor project, along the Gwadar coast in Pakistan Less than a day after the deadly suicide bombing in Karachi by a Baloch …

DUBAI: The UAE is not looking for financial advantages as it strives to become a leader in the field of artificial intelligence, according to Omar bin Sultan Al-Olama, the country’s prime minister in charge of the AI. His appointment came a year after the UAE appointed a minister for happiness to develop a more tolerant …

New Delhi, April 25 (IANS) India has struck a series of free trade agreements (FTAs) with major world economies this year and is negotiating another with the UK, Israel and Canada that would open up a plethora of economic opportunities and would create jobs not only in India but also around the world. FTAs will …

NO DRESS ADVICE Once the deadline to restore the Judicial Council to its original 1998 format expired on Monday, there were continued twists and turns throughout the week. First, the Supreme Court dismissed the challenge to its authority by Federal Judge of Paraná Daniel Alonso, who ruled against the admission of parliamentary representatives, Chief Justice …

Galleria department store in Seoul. (123rf) Major retailers including Hanwha and Shinsegae are keen to jump into the e-commerce market for designer brands as existing online platforms struggle to beat a counterfeit luxury goods scandal. Online outlets for designer brands such as Mustit, Balaan and Trenbe have seen a boom in Korea by offering amenities …

ISTANBUL, April 16 (Reuters) – A yacht linked to Russian aluminum tycoon Oleg Deripaska arrived in a bay near the southwestern Turkish resort of Gocek on Saturday, as other Russian billionaires are heading to Turkey to escape Western sanctions following the Russian invasion of Ukraine. Deripaska, founder of Russian aluminum giant Rusal (RUAL.MM), has been …

In the days following the Russian withdrawal from the outskirts of kyiv, a driver named Oleg Naumenko opened the trunk of an abandoned car and it exploded, killing him instantly. The car had been booby-trapped, and his family and local authorities blamed the Russian soldiers. “I died with him then,” Mr. Naumenko’s wife, Valeria, said …

British growth falters in February; Malaysia’s industrial production up in February — Macro Snapshot RIYADH: Britain’s economy slowed more sharply than expected in February, reflecting a hit to car production due to component shortages, disruption from the storm and reduced healthcare spending as households prepared to a stricter cut in the cost of living. Monthly …

KYIV – British Prime Minister Boris Johnson has arrived in Kyiv to meet Ukrainian President Volodymyr Zelenskiy in what Downing Street calls a “show of solidarity” as fears grow over a possible renewed Russian offensive in eastern Ukraine. Johnson’s office said April 9 that the prime minister was meeting with Zelenskiy “as a sign of …

Using np.random.seed(number) has been a best practice when using Numpy to create reproducible work. Setting random seed means your work is reproducible to othersoh use your code. But now when you look at the docs for np.random.seedthe description reads as follows: This is a handy legacy feature. The best practice is to do not reboot …

WASHINGTON, DC (IANS) – Given the outcry in some US media and among politicians criticizing India for buying oil from Russia, President Joe Biden’s spokeswoman Jen Psaki clarified that its imports were tiny and that the energy payments were not subject to US sanctions. “At the moment, just to give everyone a complete idea, India’s …

Published on: 04/01/2022 – 14:50Amended: 04/01/2022 – 14:48 New Delhi (AFP) – Russia’s foreign minister on Friday hailed India’s refusal to condemn the invasion of Ukraine, saying Moscow and Delhi would find ways around “illegal” Western sanctions and continue to trade. India has refrained from several United Nations resolutions censuring Moscow, calling only for an …

The Reserve Bank of Zimbabwe (RBZ) has released $100 million to clear the backlog of foreign exchange allocations at the weekly RBZ auctions, Governor Dr John Mangudya has said. The central bank introduced weekly foreign exchange auctions in 2020 to improve access to foreign currency by major importers, but some of the winning bids could …

International Energy Agency Executive Director Fatih Birol speaks during a news conference, in a file photo. [AP] Europe could adopt a three-point plan to cut dependence on Russian natural gas by a third by the end of 2022, International Energy Agency Executive Director Fatih Birol said in a statement. interview with Kathimerini, pointing out that …

March 23, 2022 (KHARTOUM) – The Sudanese pound has continued to fall against major currencies to unprecedented lows amid growing questions over the government’s plans to rein in the economy. A parallel foreign exchange market trader told {Sudan Tribune} on Wednesday that the US dollar is now selling at 750 pounds against 635 at major …

RIYADH: The world’s first integrated family wellness destination along Saudi Arabia’s northwest Red Sea coast had cause for celebration as environmentalists marked the United Nations’ World Water Day, which this year is themed “Groundwater – Making the Invisible Visible” on Tuesday. AMAALA, as the project is known, is set to complete its initial phase of …

As some refugees head to Poland for safety, others cannot ignore the call of ‘home’ by Mark Stone, in Przemysl, Poland At the Polish border with Ukraine, we found strong emotions among refugees fleeing their country. But to our surprise, we found many, including women and children, returning to Ukraine. Przemysl is a Polish town …

Nigeria imported agricultural products worth 1.97 trillion naira in 2021, up 42% year-on-year from the 1.19 trillion naira recorded the previous year. It also represents the highest amount on record spent on agricultural imports in a year. This is despite concerted efforts by the Central Bank to develop the Nigerian agricultural sector by intervening and …

Energy and Power Development Minister Zhemu Soda says Zimbabwe’s power situation remains “fragile” in the absence of an economic tariff regime, which continues to drive up “unproductive” demand and reckless use of electricity. “The tariff has been severely eroded and what we are seeing now is growing demand for unproductive electricity, especially from domestic customers,” …

Parallel Trade 2022 16th Edition Navigating Parallel Trade Challenges and Legal Landscapes The conference is now in its 16th year and as the only event of its kind in Europe it is established, but we have taken into account all the suggestions from last year to make it better than ever! ” — Richard Jones, …

Saint Alban les Eaux nuclear power plant, commissioned in 1985, exterior view, town of Saint Maurice l’Exil, department of Isère, France Eric Bascol | Istock Editorial | Getty Images For Europe, the war in Ukraine has created an urgent priority to stop being dependent on Russian gas. The International Energy Agency, a political organization made …

Monday. Evening. You know, we used to say: Monday is a hard day. There is a war in the country. So every day is Monday. And now we are used to the fact that every day and every night is like this. Today is the 12. 12th night of our fight. Our defense. We are …

ECONOMYNEXT – Sri Lanka’s central bank may make changes to the exchange rate in the future if necessary, but the current level is appropriate, Central Bank Governor Nivard Cabraal said amid calls to float the currency and to stop reserve sales for imports. The Sri Lankan rupee is pegged to the US dollar at 200 …

PLATTSBURGH — U.S. Representative Elise Stefanik (R-Schuylerville) was happy to see Democrats and Republicans show solidarity with Ukraine and Ukrainian Ambassador to the United States Oksana Markarova during the president’s first State of the Union Joe Biden Tuesday night. Like other officials who wore paraphernalia or clothing in the same colors as the …

The crisis around Ukraine had been looming for some time, with efforts to prevent further escalation. President Putin’s recognition of the self-proclaimed Donetsk People’s Republic and the Luhansk People’s Republic took the crisis to the next stage. A day later, Putin took another step and announced the start of “special military operations” in Ukraine. Ukrainian …

VIETNAM, February 23 – Production of workwear for export. With the establishment of RCEP, Việt Nam’s export market will expand, particularly to China, where Việt Nam currently has no trade agreement. VNA/VNS Photo Trần Việ HÀ NỘI — Việt Nam is expected to register the highest trade and income gains among RCEP (Regional Comprehensive Economic) …

TAURAI MANGUDHLAThe Reserve Bank of Zimbabwe (RBZ) and the Treasury have gone to town on the stability achieved on the local currency against the greenback, but the economic problems facing Zimbabweans tell a different story. While the official auction rate closed last week below ZW$120 against the dollar, parallel market rates on the other hand …

Southeast Asia’s Largest Bank, DBS, Launches Crypto Trading for Retail Investors: Crypto Moves RIYADH: DBS, Southeast Asia’s largest bank by assets, plans to launch cryptocurrency trading services for retail investors this year. “What we’ll be focusing on in the first half, the first two quarters of this year, is making access to digital assets much …

Market competition is weakening in Israel, and it is the country’s consumers who are paying the price It is undeniable that Israel is expensive. Tel Aviv, the country’s biggest tech hub, was named the world’s most expensive city by the Economist Intelligence Unit (EIU) for the first time in 2021, beating notoriously expensive destinations like …

Enforcement Complaints procedure for individuals Is there a procedure for private parties to complain to the antitrust enforcement authority about alleged illegal vertical restraints? The Cartel Law explicitly provides for the possibility for the Secretariat to conduct preliminary investigations at the request of an involved company or in response to a complaint from third parties …

‘End of the road’ for London euro clearing after June 2025, says EU official The European Union agreed on Tuesday to extend until June 30, 2025 the permission for UK clearing houses to continue serving clients in the bloc, with officials saying it would be the last extension. Clearing has become a Brexit battleground between …

Australian group Avass signs memorandum of understanding with Saudi prince to manufacture electric vehicles and lithium batteries The Australian group Avass recently announced that it has signed an agreement with Saudi Arabia to jointly manufacture electric vehicles and lithium batteries. The Group approved a memorandum of understanding with Prince Abdulaziz Bin Abdullah Bin Saud in …

The UK’s current position on the exhaustion of intellectual property (IP) rights – an asymmetrical situation which allows parallel imports into the UK from the EEA but not parallel exports from the UK to the ‘EEA – should continue indefinitely. On January 18, 2022, the UK government announced its response to the consultation process launched …

Editor’s Note: Mexico Gas Price Index from NGI, a leader in tracking natural gas market reform in Mexico, offers the following column by Eduardo Prud’homme as part of a regular series on understanding this process. The opinions and positions expressed by Prud’homme do not necessarily reflect the views of NGI’s Mexico Gas Price Index. The …

The EU has filed a complaint against China at the World Trade Organization over its de facto ban on exports from Lithuania in a dispute over Taiwan. The move heightens tensions between two of the world’s largest economies, which are embroiled in disputes over steel and the treatment of China’s Uyghur Muslim minority. Brussels said …

By DAWN CECILIA PEÑAMarket watchBulatlat.com MANILA – A group of fishermen have called for government intervention to control the price of round scad or galunggong and lift the closure of the fishing season to address the alleged shortage of fish in the market. “With a retail price of P250/kilogram ($5), galunggong is no longer a …

from Federico Fubini The Russian president is trying to build a fortress country. Europeans are increasingly dependent on Moscow for energy. A year after Moscow’s 2014 attack on Ukraine, the European Union cut Russian gas imports to 37% of the total. It was an act of homeopathic caution, but the lesson was soon forgotten: last …

After eagerly awaiting the outcome of the UK government’s recent 12-week consultation on the future of the exhaustion of intellectual property rights, the outcome released this week is something of an anticlimax. After completing an initial analysis of the responses to the consultation, the government has concluded that there is “not enough data available to …

ECONOMYNEXT – Sri Lanka spent US$664 million to provide “import reserves” in November and December 2021 as the central bank tried to implement a 200 peg to the US dollar while printing oil money to sterilize the same dollar sales at a fixed interest rate of 6.0%. The central bank bought US$61.7 million in foreign …

We enter 2022 with anxiety. The COVID-19 pandemic is experiencing a new surge, thanks to the omicron variant, setting record infection rates. Civil wars and conflicts have erupted in the Horn of Africa, in addition to long-running wars in the Middle East and North Africa. Economies face supply chain bottlenecks, nascent inflation and, in some …

Thank you, Madam President. Allow me first of all to welcome the newly elected members to this Council and I look forward to cooperating closely with them as with all Council members. Madam President, 2022 is starting on an uplifting note. The military escalation that I described to this Council last month has accelerated as …

Parallel trade 2022 Navigating the challenges and legal landscapes of parallel trade The conference will also provide global information on parallel trade in pharmaceuticals and reflect on key takeaways for other member states. “ – Richard Jones, Director of Events, SMI Group LONDON, LONDON, UK, January 7, 2022 /EINPresswire.com/ – SMi presents its 16th Annual …

Strawberries are tastier when eaten as soon as possible after being harvested. Unfortunately, many markets are prevented from accessing red gold. From inappropriate local growing climates to seasonal differences or even lack of space to grow them, strawberries are not always easy to find. “At Urban Harvest, we offer solutions for urban growers to grow …

Russian inflation keeps pace in November, private sector rebounds slightly: macro snapshot The annual inflation rate in Russia reached 8.39% in November, virtually unchanged from 8.4% the previous month, according to data from the country’s Federal State Statistics Service. The rise in prices was in part due to rising food costs, which rose 10.6 percent. …

International business transactions are fairly straightforward. For everything you import or export, payments are made through banking channels. However, that has changed since the Taliban returned to power in Afghanistan. The US authorities have frozen the foreign accounts of the Afghan government and the Afghan banking network is not functioning properly. So if the banking …

RIYAD: The Saudi capital has long been viewed by bankers and international leaders as a place to visit for work, before spending the weekend elsewhere in the region. However, that is about to change as the Saudi capital is not only rapidly transforming into a global and regional hub of business activities, it is also …

In this world of big data, satellite imagery, data analytics and predictive analytics, it is a shame that policymakers have to make decisions based on estimates or incomplete information, because timely, reliable and updates on key economic variables are not readily available. The exceptions are the Pakistan Bureau of Statistics Population Census (although it took …

European steelmakers have warned that the industry’s decarbonization efforts are threatened by prohibitive energy prices coupled with “skyrocketing” carbon prices. The warning from the European Steel Association (Eurofer) coincides with a meeting of the European Council and ahead of the Environment Council next week. “Key European industries such as steel cannot bear all of the …

CAIRO / MOSCOW: The UAE’s non-oil trade surplus with the Gulf Cooperation Council widened by an annual rate of 353% in the first nine months of 2021, according to data from the Federal Center for competitiveness and statistics of the country. The trade surplus reached 13.5 billion dirhams ($ 3.7 billion) during the period. Non-oil …

For much of the season, many clubs usually vie for the EPL, Serie A, Bundesliga, La Liga or Ligue 1 titles, as there were several buyers competing for the cargoes available until the fourth quarter. But as the latter part of the competition approaches, a list of title contenders is often reduced to just two …

This article is part of the series Comprehensive Energy Monitor: India and the World Fund On November 23, 2021, the US administration authorized the release of 50 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) operated by the US Department of Energy (DOE). 50 million barrels of oil is about half of …

1. US emerging tech companies cannot work with these Chinese entities On November 26, the Commerce Department’s Bureau of Industry and Security added 27 foreign organizations and individuals, including eight China-based technology entities, to its list of entities. The purpose of the additions is to prevent emerging US technologies from being used in “Beijing’s quantum …

ECONOMYNEXT – Sri Lankan migrant worker Sampath * is now determined to send his salary from Dubai to his family via hawala, a traditional net settlement system that has facilitated trade for centuries. “Last week I found out that my friends were getting an extra 10 rupees for every dirham and I lost almost 15,000 …

TC Energy Corp. sees “a wealth of untapped demand” for natural gas in Mexico to unlock over the next decade, Stanley Chapman III, company president for US and Mexican pipelines said Wednesday. “As demand on our backbone network in the heart of Mexico continues to emerge, future corridor expansions will be driven by the construction …

Sitharaman said the government has reduced the central excise tax on gasoline and diesel prices by Rs 5 and Rs 10, respectively with effect from November 4, 2021. Our special correspondent | New Delhi | Posted on 11.30.21, 03:16 AM The Modi government on Monday blamed external factors – rising international prices for crude and …

Hardeep Singh Puri India said on Friday that oil-producing countries could not demand a ransom from consumers, highlighting the country’s growing frustration with OPEC + for not increasing production to cool prices. India, the world’s third largest importer and consumer of oil, imports around 85% of its oil needs and has been hit hard by …

The Chronicle Harare officeFinance and Economic Development Minister Mthuli Ncube yesterday revised upward the year-end inflation target to 52 percent to 58 percent, citing recent inflationary pressures. The Treasury chief had previously forecast that inflation would end the year between 25% and 35% after the rate fell sharply this year to a two-year low of …

The government’s proposal to increase the GST on gold jewelry from three percent to five percent is expected to derail the rebounding industry after a series of disruptions, including Covid-induced closures shutting down retail stores and punching compulsory putting jewelers in awe. After being at its lowest for a long time, jewelry sales have picked …

ISince Azeem Rafiq testified about the racism he faced within Yorkshire County Cricket Club, people of color across Britain have been brought in to share their own accounts. But there is something distinct about Rafiq’s testimony, which reveals how Yorkshire fits into the national imagination and how South Asian Muslims in Yorkshire have historically been …

India and the UK are about to start negotiations on a trade deal. The two sides hope to finalize an interim trade deal followed by a full FTA next year. In 2020, bilateral trade between the UK and India was $ 25.3 billion, down 22% from 2019. India’s imports from the UK were 6 , …

Medicinal morphine, derived from the opium poppy, triggered the country’s first major opioid epidemic in the late 19th century, with imports and consumption of medical opiates tripling between 1870 and 1890. For doctors of the day, morphine administered with hypodermic needles was like a magic wand to quickly relieve pain in patients – but overprescribing …

New promises on forests at COP26 will only make sense if they are accompanied by concrete actions. A key test will take place shortly after the end of the conference. Deforestation and associated human rights violations are driven by foreign demand for agricultural products like palm oil, soybeans and beef. They will not be stopped …

LUDHIANA: The recent searches of the income tax department in several premises of the two main dried fruit companies in the country engaged in the processing and trade of dried fruits have led to the detection of unrecorded income of more than Rs 200 crore. While one company has its main base in Amritsar and …

India has proposed regulatory reforms designed to encourage R&D and innovation in the pharmaceutical and medical industries. The proposals are part of a larger plan to make India a leader in the discovery of innovative drugs and medical devices by creating an entrepreneurial environment in the country. Working towards this goal, the Department of Pharmaceuticals …

Sakoatex Sweater Company in Rajshahi only entered the world market in four years with an investment of over Tk 150 crore. The factory, established in the BSCIC industrial zone in 2017 by Enamul Haque, legislator and chairman of the Ena group, has created employment opportunities for around 1,200 residents, 80% of whom are women. Currently, …

PITTSBURGH, October 30, 2021 / PRNewswire / – International President of the United Steelworkers (USW) Tom conway today issued the following statement in response to the announcement that United States and the European Union had reached an interim agreement on Article 232 relief measures for steel and aluminum: “Steel and aluminum are the backbone of …

I have been in Israel for 30 years. During this time, we have seen some metamorphosis in the spirits market.The 1990s were the decade of brandies, spirits and liqueurs produced in Israel. Israeli spirits were used in bars whenever a taste could be masked by a blender or cocktail. Unscrupulous bartenders undoubtedly filled the empty …

The lack of vaccine production capacity in African countries has been the subject of much concern and criticism in the wake of the COVID-19 pandemic. It has become a particularly hot topic due to the severely unequal access to COVID-19 vaccines between developed and developing countries. Africa has limited vaccine production capacity. Only Tunisia, Senegal, …

“Green hydrogen is better than gasoline and diesel. The transport sector is undergoing a big change. In favor of green hydrogen as a transport fuel, Union Minister Nitin Gadkari on Monday said it was necessary to make India a country that is not dependent on petrol and diesel imports . Speaking at an event, Gadkari …

Italy has “high expectations” for Saudi and Middle East green initiatives (Italian Deputy Foreign Minister) ROME: Italy had “high expectations” regarding the Saudi Green Initiative and Middle East Green Initiative events in Riyadh as well as the Kingdom’s commitment to green energy production, said a important Italian deputy. Manlio Di Stefano will represent his government …

The highlight reel of Friday’s SONAR reports. For more information on SONAR, the industry’s fastest freight forecasting platform, or to request a demo, Click here. Tracks to watch By Zach Strickland, Director, Freight Market Intelligence MEMPHIS in CHICAGO Overview: Brokers are expected to raise rates in light of the tightening Memphis market. Strong points Over …

Israel on Thursday approved plans to reform import regulations aimed at allowing more products to be sold in the country and lowering the cost of living. The part of the reform relating to food was voted on Wednesday by the Knesset’s economic committee. Other parts dealing with home appliances, electronics, children’s products, household products and …

Growth at any cost is not good for investor returns, growth at a reasonable price is good enough for investor returns, according to Nilesh shah, MD, Kotak AMC We have seen PSUs make a comeback. Air India returns to the Tatas. The finance minister has told the United States that she is trying to get …

Zainab Ahmed, Minister of Finance, Budget and National Planning, said the tax authority ministry is working with the Central Bank of Nigeria (CBN) to close the gap between official and unofficial exchange rates. The national currency changes to N411 / $ on the official market segment and N570 / $ on the parallel market. Many …

Sunday mail Victoria Ruzvidzo Zimbabwe has a legendary penchant for miscarrying or shooting themselves in the foot at the most inopportune moment. The current chaos in the foreign exchange market is of no use and threatens to reverse much of the economic gains recorded so far. But that shouldn’t be allowed to happen. We must …