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The COVID-19 pandemic is causing Japanese companies to temporarily close offices or suspend production, disrupting businesses in a country that has so far managed to weather the pandemic better than most advanced nations.  A number of production line shifts were halted by Toyota Motor Corp and Daihatsu Motor Co last week due to employee infections. …

Wim’s News – Putting an end to lunch chats and work shutdowns: Japan Inc fights COVID Read More »

Uganda will buy power from neighboring Kenya to stabilize the supply after floods shut down the 183-megawatt Isimba plant last week. In a statement, Energy Minister Ruth Nankabirwa Ssentamu said the East African country will purchase 60 megawatts from Kenya and restart an idled 50-megawatt thermal plant in Kampala. Kakira sugar plant will provide an …

Wim’s News – Uganda to Import Power From Kenya After Floods Shut Key Plant Read More »

To boost trade links, the UK is cutting import taxes on hundreds more products from poor countries. The Developing Countries Trading Scheme enters into force in January and builds on a scheme the UK participated in while still a member of the EU. Tariffs will be reduced or eliminated on goods such as clothes, shoes, …

Wim’s News – UK to cut import taxes from some of the world’s poorest countries Read More »

As refiners ramped up purchases of rival soy oil to take advantage of New Delhi’s move to allow duty-free imports of the vegetable oil to calm all-time high prices, India’s palm oil imports fell 10% in July. As the world’s largest edible oil importer increases purchases of U.S. soyoil, palm oil’s share of Indian purchasing …

Wim’s News – India’s palm oil imports fall in July as soy oil jumps to record high Read More »

Small and medium-sized businesses (SMEs) in the UK are experiencing unprecedented energy bill increases, according to new reports. There has been an increase of more than 250% in gas prices over the past year on average. The combination of rising overheads and a difficult economic environment created by the pandemic and Brexit will make it …

Wim’s News – Rising Energy Prices: Will British SMEs Survive? Read More »

India has expressed concern to the United States that it is being used to export fuel made from Russian crude to New York through high-seas transfers to hide its origin, a top Indian central banker said on Saturday. Deputy Governor Michael Patra of the Reserve Bank of India said an Indian ship picked up oil …

Wim’s News – U.S. expressed concern India was being used to export fuel of Russian origin, Indian central banker says Read More »

Currently, Nigeria’s petroleum imports exceed its petroleum exports by $43 billion, according to a report. According to the Budget Office, Nigeria’s debt in the first four months of the year exceeded its revenue despite high oil prices. Unlike other oil producers, Nigeria has not been able to benefit from high oil prices, with oil revenues …

Wim’s News – The disparity between Nigeria’s imports and exports of petroleum totals $43 billion Read More »

Due to a spike in oil and gold imports, India’s trade gap with the United Arab Emirates quadrupled in May-June, the first two months following the India-UAE free trade agreement. In the two-month period, the country’s trade deficit with the UAE increased to $3.92 billion from $980 million. India, too, made gains, with exports to …

Wims News – As oil imports rise, the trade gap between India and the UAE widens Read More »

Mexico, which imports nearly all of its natural gas, has a somewhat surprising mission: to become the world’s largest exporter of the fuel. In spite of Mexico’s inability to export natural gas, since it produces too little of the fuel to meet its own domestic needs, its proximity to booming US reserves allows it to …

Wims News – Using US-drilled natural gas, Mexico plans to become an export hub Read More »

The United Nations expects an increase in the number of ships seeking to export Ukrainian grain through the Black Sea after transit procedures are agreed upon and a goal of two to five million tonnes a month is “achievable.” On Monday, Russia, Ukraine, Turkey and the UN agreed on transit procedures for resuming Ukraine’s Black …

Wims News – UN expects ‘big uptick’ in ships wanting to export Ukraine grain Read More »