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Parallel imports


The Nigerian currency is overvalued by 200% and the Investors and Exporters Window (I&E) exchange rate could be devalued next month, Bismarck Rewane, managing director of Financial Derivatives Company Limited (FDC). The naira has depreciated against the dollar in the Nigerian foreign exchange market in recent weeks. It fell to N431 per dollar, its lowest …

Oil Updates – Oil at Multi-Month Low; The number of US oil rigs is falling; US to discuss Russian oil price cap with Indonesia RIYADH: Oil prices stabilized on Friday, recouping some of this week’s losses on strong U.S. job growth, but closed the week at their lowest levels since February, rocked by fears that …

Ukraine has demanded that the deal that eases Russia’s blockade on its Black Sea grain exports be extended to other products such as metals after the first successful use of the route. Taras Kachka, trade negotiator and Ukrainian deputy economy minister, said he hoped the agreement between Ukraine and Russia allowing grain traffic to resume …

For many Nigerian citizens, a disturbing spike in violent crime has become the stark reality oflife. From north to south, east to west, the country, once a sanctuary of peaceful coexistence, has rapidly metamorphosed into territory of annihilation. In the first 10 weeks of 2018, there were 591 violent deaths in the North East, 270 …

— Eurasia Review WHEN Russia bombed the port of Odessa, it was not a good start for the new grain export deal. If anyone believed that this agreement between Moscow and Kyiv would have a positive ripple effect on the war raging elsewhere in Ukraine, surely the Russian military has destroyed that wishful thinking. The …

Kazakhstan has dramatically increased its defense spending while seeking to strengthen its ties with China and NATO countries amid fears that Moscow could expand its geopolitical ambitions beyond Ukraine, The Wall Street Journal (WSJ) reported, citing a Kazakh official. The former Soviet state commits an additional 441 billion Kazakh tenge (KZT) ($918 million) to its …

Kazakhstan’s president invites Saudi investors as the two countries plan to strengthen economic ties RIYADH: The President of Kazakhstan, Kassym-Jomart Tokayev, has invited Saudi companies to invest in this Central Asian country, as it offers many opportunities in the fields of energy, space, recycling, food and agriculture, and construction. While speaking at the Saudi-Kazakh investment …

Turkey’s white goods sector domestic sales fell 8%, while exports edged up year-on-year in the first six months of the year. The Association of Household Appliance Manufacturers of Turkey (TÜRKBESD) said on Thursday. The sector’s domestic sales fell 2% in the association said in June while exports fell 6% in the same period, reflecting demand …

The substitution has the potential to attract foreign investors who may show a greater willingness to be paid in INR rather than LKR, who could suffer losses in the foreign exchange markets Representative image. AFP New Delhi: On July 11, the Reserve Bank of India requested banks to put in place additional provisions for export …

The risk of a total shutdown of Russian gas supplies is now well understood. Not a single molecule of Gazprom has been transported to Europe via the Yamal pipeline via Poland for six weeks. Streams via Nord Stream 1 via the Baltic have been operating at 40% capacity since mid-June. They went down to zero …

By: Pairman Bazai According to the unfolding cases, the hegemonic status of the United States seems to be weakened. The influence of the USA is no longer the same as in the 1990s and the beginning of the 2000s. After the withdrawal from Vietnam (1973), Iraq (2011), Syria (2019) and the Afghanistan (2021), the United …

BUENOS AIRES, Argentina — Argentina’s economy minister unexpectedly resigned on Saturday, dealing another blow to President Alberto Ferandez’s government as the country grapples with economic problems. Martin Guzman has quit after a week in which Argentina’s currency hit a historic low against the dollar amid soaring inflation and truck drivers staging protests over diesel fuel …

The price elasticity of demand is assumed (0.4). When the price increases by 10%, consumption decreases by 4%. As a result, production decreases by 4%. The current price is LKR 5 per stick. **One sheet of tendu is enough to wrap 10 beedis. When beedi production drops, a proportional drop in tendu leaf is expected. …

Mr. Mele Kolo Kyari, GMD, NNPC. The federal government has said it is regrettable that Nigeria’s oil refineries are not functioning and the possibility of introducing subsidies on automotive gas oil, also known as diesel, is unlikely. The Managing Director (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, who made it known …

Chairman of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe called for improving local production and diversifying the oil economy to keep the Nigerian economy in high Naira volatility. Gwadabe decried that despite foreign exchange interventions by the Central Bank of Nigeria (CBN), the volatility of the naira is compounded by …

Roadmap to economic recovery [Part – IV]

The latest news has kept us on our toes with the ups and downs of our agreement with the IMF. We are at a stage where going into debt, not for a project but to make ends meet, is cause for celebration. It’s easy to borrow, very difficult to repay. There is now a serious …

BY TANYARADZWA NHARITHE government must work with business to improve the operating environment, according to Confederation of Zimbabwe Retailers (CZR) President Denford Mutashu. Mutashu, whose organization represents supermarkets, wholesalers and related businesses, was speaking during a stakeholder interface called to discuss issues faced by retailers and consumers as a result of the scourge of COVID-19 …

the herald Patrick Chitumba Head of Midlands Office Many Zimbabweans are having to shop around for the best prices and likely cut back on luxury goods, as the Consumers Council of Zimbabwe (CCZ) says a family of six now needs $120,000 a month for food. Commodity prices have increased across the world, mainly due to …

The US Fed’s hawkish stance to stamp out rising inflation is likely to cause problems for emerging markets like Nigeria. The US Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point this week. The rate hikes mean a stronger dollar against most world currencies, including Nigeria. As a result, a stronger …

This article first appeared on Foreign Policy In Focus. The media, politicians and policy makers tend to focus on the most visible issues. The attention paid to the war in Ukraine during the first half of 2022for example, is unmatched in the United States at least since the shock of 9/11 in 2001. The war …

RIYADH: Saudi Arabia’s gross domestic product is expected to grow at more than double the rate of other G20 economies, according to a forecast by the Organization for Economic Co-operation and Development. The Saudi economy is expected to grow by 7.8% in 2022, while G20 economies are expected to grow by 2.9%, the OECD reported …

Officially: Apple won’t leave Russians without an iPhone. Unofficially: the same smartphones, although “grey”, had been sold long before the sanctions. On March 2, 2022, Apple, among others, officially announced the suspension of sales in Russia. Since then, the official online Apple Store has been unavailable in the country, all device shipments have been stopped, …

Focus on China — Yuan calms down; resumption of exports and imports of the Asian giant in May; US-listed Chinese tech stocks rise BEIJING (Reuters) – The Chinese yuan eased from a month-long high against the dollar on Tuesday, under pressure from strong greenback strength, as some investors gauged the pace of the economic recovery …

Saudi-US trade rises in 2021 to $24.7 billion as non-oil exports hit record high, report says RIYADH: Trade volume between Saudi Arabia and the United States reached SR 92.5 billion ($24.7 billion) in 2021, a 22% increase from 2020, non-oil exports from the Kingdom to the United States having reached an all-time high, according to …

Economy CBK Governor responds to requests for parallel exchange rates Tuesday, May 31, 2022 Patrick Njoroge, Governor of the Central Bank of Kenya. PICTURES | NJAU SALATON | NMG The Central Bank of Kenya (CBK) has dismissed concerns that continued dollar shortages are triggering the emergence of a parallel exchange rate where lenders buy and …

Oil Updates – Crude Up; Sri Lanka will pay $72.6 million to buy Russian oil; US renews Chevron license in Venezuela RIYADH: Oil prices rose on Friday, ending the week with gains ahead of the US Memorial Day holiday weekend, the start of peak US demand season and as European nations trade on whether to …

Tribune press service Sandeep Dikshit New Delhi, May 26 Immediately after the curtain fell on the Quad Summit in Tokyo, two senior US officials arrived in India to discuss Russia and Afghanistan. Meanwhile, National Security Advisor Ajit Doval is in Tajikistan to discuss Afghanistan with NSAs from eight regional countries, including Russia, China …

Reading time:1 minute, 40 seconds Official Apple retailers in Russia – re:Store and iPort – have begun closing stores, redirecting rare gear to high-traffic spots. br> About this writes Kommersant. The retail chain re:Store (part of Inventive Retail Group, IRG) began to close stores in Moscow and in the regions, iPort – in St. Petersburg. …

Focus on India — Government cuts fuel taxes; Jet Airways to fly again; Apple eyes India as manufacturing hub MUMBAI: India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to protect consumers from rising prices amid high inflation. Finance Minister Nirmala Sitharaman announced a cut …

In addition to energy savings, diversification of imports and renewable energies, Europe must also look inwards to secure its energy supply. Our continent still holds vast reserves of gas that can help replace Russian imports and help contain our import bill in the process. Curiously, the political decision makers in Brussels are aware of this, …

The Metropolitan Police said the fatal collision took place on Cheyne Walk, a historic street that runs parallel to Chelsea Embankment and the River Thames. An Audi driver was arrested at the scene on suspicion of causing death by dangerous driving. Police were called to the road at 6.21am this morning following reports of a …

PARIS, 12th May, 2022 (WAM) — New power generation capacity from solar, wind and other renewables hit a record high worldwide in 2021 and will increase further this year as Governments are increasingly looking to leverage the energy security of renewables and climate benefits, according to the International Energy Agency. The world added a record …

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 …