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Wim’s News – UK companies benefit from post-Brexit pound slump through online exports

Since the UK voted to leave the EU in June, British companies have seen a surge in international sales. In response to the post-Brexit slump in the value of the pound, PayPal reported that small and medium-sized businesses (SMEs) in the UK saw international PayPal sales more than triple. Foreign shoppers spent 10 percent more …

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Wim’s News – Over 300 items are being suspended by Sri Lanka due to a soft-peg crisis

Since Wednesday, Sri Lanka has temporarily suspended the import of over 300 ‘non-essential’ items amid the soft-peg crisis. Under the Import and Export Control Act, the gazette was signed by President Ranil Wickremesinghe as Finance Minister. Cosmetics, electrical goods, watercraft, ships, aircraft, electrical and electronic goods, and building materials were among the items on the …

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Wim’s News – A hydrogen deal has been signed between Germany and Canada

A deal was signed on Tuesday between German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau for Germany to import Canadian green hydrogen. In Stephenville, Newfoundland, the two leaders signed the deal. Delivery is expected within three years. The two heads of government attended an economic conference in Toronto on Tuesday. As Germany seeks …

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Wim’s News – US trade representative team visits India to advance talks for bilateral Trade Policy Forum

The United States Trade Representative (USTR) is visiting India this week to discuss the bilateral Trade Policy Forum (TPF). Christopher Wilson, Assistant USTR for Central and South Asian Affairs, and Julie Callahan, Assistant USTR for Agricultural Affairs, will be in New Delhi this week. After a two-year hiatus due to the pandemic, Washington resumed mango …

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Wim’s News – US demand to lift India’s lab-made diamond exports to $8 billion

Laboratory-made gems are becoming increasingly accepted in other markets as demand from the US surges and India cuts or polishes 90% of the diamonds sold in the world. Exports of polished lab-grown diamonds may double in the current financial year from $1.3 billion in the previous year, according to Vipul Shah, vice chairman of the …

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Wim’s News – Conflict in South China Sea would threaten 90% of Australia’s fuel imports

In the event of a major disruption, the country would run out within two months. Five ways to reduce vulnerability In light of China’s saber-rattling about Taiwan, Australia should be prepared for conflict in the South China Sea. China is increasingly capable of disrupting Australia’s exports and imports because of its growing navy and air …

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Wim’s News – Algeria Bans Food Exports

The state-run news agency APS recently reported that Algeria has banned the export of food items such as sugar, vegetable oil, pasta, semolina, and wheat derivatives. A meeting of the Council of Ministers led to the declaration. A presidential decree prohibits Algerian commercial operators from exporting food products made with imported raw materials and imposes …

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Wim’s News – Gold imports up 6.4 pc to USD 13 billion in April-July this fiscal

According to government data, India’s gold imports rose by 6.4 percent to USD 12.9 billion during April-July this fiscal due to healthy demand. A year ago, the country imported USD 12 billion. According to the latest data released by the commerce ministry, imports of precious metals dropped by 44.6% to USD 2.4 billion in July …

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Wim’s News – Despite 80% inflation, Turkey lowers interest rates

The Turkish central bank lowered its key interest rate despite inflation surging to nearly 80% and making it difficult for people to buy necessities.Turkey’s central bank lowered its key interest rate on Thursday despite inflation surging to nearly 80% and making it difficult for people to buy what they need. The bank announced that it …

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