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Uganda: Small Scale Exporters Get $10 Million
THE African Export-Import Bank Afreximbank has given $10m to Ugandan small scale exporters.
2008-11-07 14:21:27
Famed trade fair deals fall 16% as credit crisis deepens
China's largest and most famous trade fair closed here on Thursday with deals dropping for the first time in five years, leaving many exporters...
2008-11-07 05:26:31
Big fair survives turmoil
The global financial crisis does not seem to have seriously affected the 104th Chinese Import and Export...
2008-11-07 05:25:31
Lack of political will slowing Europe's renewables revolution, engineers say
The experts tasked with delivering Europe's green energy revolution have said that a lack of political leadership is their biggest single obstacle in meeting...
2008-11-06 01:36:21
Drug prices likely to rise
BY OUR CORRESPONDENTMumbaiNov. 5: The depreciating rupee has taken toll on import of bulk drugs which have become costlier by 25 to 30 per cent.The Indian...
2008-11-05 12:09:46
Concern over Israel settlement exports
British customs officials are "strongly concerned" that Israeli-produced goods made in settlements on the occupied West Bank may be circumventing import taxes...
2008-11-05 07:27:17
Demand slump taking shine off Gujarat diamond industry
BUS10Business/BusinessDemand slump taking shine off Gujarat diamond industryBy P.S. AnantharamanSurat, Nov 5 IANS The Rs.700-billion $14 billion diamond cutting and polishing industry here employing some 700,000 people is fast losing its glitter due to a sharp slump in demand following the global financial meltdown.With the US market, which accounts for 40 percent of the diamond trade's exports, shrinking by more than 20 percent following the meltdown, the 5,000-odd diamond units in the western Indian state of Gujarat are facing an uncertain future.This Diwali, the Indian festival of lights, proved to be rather dark for those involved in the diamond trade."The lack of demand has left us without any Diwali cheer," said C.P. Vanani, president of the Surat Diamond Association.Many diamond cutting and polishing units in the state, struggling to tide over the crisis, have given their workers 40 days' leave for this year's Diwali instead of the usual 20-day festival vacation."We are not sure whether the industry will be able to restart operations even in December. The environment is pretty gloomy really," Vanani added.He, however, said it was difficult to immediately quantify the fall in demand during the Dussehra-Diwali festival season this year, as most of the units are yet to restart operations after the annual vacation.Chetan Sangvi, Gujarat region chairman of the Gems and Jewellery Export Promotion Council GJEPC, estimated the gap between supply and demand of diamonds this year at 20 percent."This is not final as we still don't know about the overseas demand position in the Christmas and New Year season," he added.Diamond factory owners are now saddled with unsold polished and rough diamonds. Many have asked their suppliers of rough diamonds to cut supplies, Vanani said."I have been in the diamond business for more than 25 years now and I have never seen such a downturn in the past," he said.With both the major markets for the Indian diamond industry - the US and Europe - hit by the economic and financial downturn, industry leaders do not expect demand to pick up even during the Christmas season.Vanani said the diamond associations in Ahmedabad, Bhavnagar and Amreli have written several letters to GJEPC urging it to take steps to address the crisis that the industry is facing.The industry wants steps that would help them modernise by inducting new technologies so that they can cut costs and enhance productivity to maintain margins in this shrinking market scenario.The associations have asked the council to persuade the commerce and industry ministry to launch an upgradation fund on the lines of the one for the textiles industry so that diamond units can get soft loans for modernisation with a built-in subsidy of 20 percent.They also want import duty waiver for import of new technologies and modern machinery. Currently, diamond machinery imports attract 30 percent duty, Vanani said.--Indo-Asian News Servicepsa/sj/arj/dg525 Words**05111309
2008-11-05 03:00:00
Britain to crack down on exports from Israeli settlements
Britain is taking the lead in pressing the EU to curb imports from Israeli producers in the occupied West Bank as a practical step towards halting the steady increase in the construction...
2008-11-02 20:29:19
Sri Lanka lets more 'flexibility' in rupee-dollar exchange rate
INT67International/Economy Sri Lanka lets more 'flexibility' in rupee-dollar exchange rateBy P. KarunakharanColombo, Oct 30 IANS Sri Lanka’s Central Bank Thursday decided to allow the rupee exchange rate against the US dollar "to respond with greater flexibility” keeping in mind the recent sharp decline in export prices and prospects of lower export demand due to further slowing down in the global economy.The Central Bank in a statement said Thursday that the move was “particularly necessitated” as the currencies of some of the island’s major trading partners and competitors have since mid-September 2008 depreciated sharply against the US dollar “leading to some pressure on the competiveness of Sri Lanka’s exports”. “Therefore, as a measure of reducing pressure on the real sectors, the Central Bank would favour a limited depreciation of the Sri Lanka Rupee so as to enable the real sector to maintain Sri Lanka’s export competitiveness across all export and import competing industries,” the bank said. “As a result, the export sector could continue to perform well in the future while of course taking the necessary measures to improve their productivity and cost effectiveness in order to further enhance their competitiveness in global markets”. Claiming that the island’s export sector had been growing well above 12 percent during the first eight months of the year, and has shown commendable resilience in the light of the current unfavourable global conditions, the bank said that it was “now considered desirable that an added support be granted in order to provide the impetus for the exports to remain competitive in the months ahead”.“The envisaged limited depreciation is also ‘timely’ since it will not adversely affect the declining trend in Sri Lanka’s inflation as global prices of petroleum, gas, wheat, sugar, milk powder, etc are declining and this trend is expected to continue during the next few months as well,” it said, expressing hopes that the move would help to contain inflation in the medium term.Acknowledging that the vital importance of maintaining stability of the financial markets, in both the foreign exchange and rupee markets, even in the face of the current global financial crisis, the bank said it stood “ready to provide liquidity to maintain stability of the exchange rate if the rate tends to be more volatile than warranted”. --Indo-Asian News Servicepk/rn/vt394 Words30102235
2008-10-30 13:01:08
US Exports to Iran - IranVNC
US Exports to IranIranVNC&ampnbsp;- 42 minutes agoWill Iran import more consumer goods from the United States...
2008-10-30 11:00:00

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Uganda: Small Scale Exporters Get $10 Million

Famed trade fair deals fall 16% as credit crisis deepens

Big fair survives turmoil

Lack of political will slowing Europe's renewables revolution, engineers say

Drug prices likely to rise

Concern over Israel settlement exports

Demand slump taking shine off Gujarat diamond industry

Britain to crack down on exports from Israeli settlements

Sri Lanka lets more 'flexibility' in rupee-dollar exchange rate

US Exports to Iran - IranVNC