In view of difficulties being faced by exporters in getting payments from crisis-hit Sri Lanka, the Reserve Bank of India (RBI) has allowed settlement of trade transactions in Indian rupee outside the Asian Clearing Union (ACU) mechanism. In March, the government had guaranteed a term loan of $ 1 billion extended by the State Bank of India (SBI) to Sri Lanka […]
World trade in cereals in the 2021/22 marketing year is likely to witness a 1.2 percent decline compared to the previous year, the FAO said in its latest Cereal Supply and Demand Brief The decline is associated with maize and other coarse grains, while trade volumes for rice are predicted to grow by 3.8 percent and […]
India and Australia on Saturday signed a landmark economic cooperation deal that will help the two countries boost bilateral trade at a time when they are looking at an alternative to China. The deal will allow India access to natural resources-rich nation, as New Delhi works to expand its manufacturing base. It is the first […]
The Russian Federation and Ukraine are among the most important producers of agricultural commodities in the world. Both countries are net exporters of agricultural products, and they both play leading supply roles in global markets of foodstuffs and fertilisers, where exportable supplies are often concentrated in a handful of countries. This concentration, says the UN […]
The UN’s trade and development body has downgraded its global economic growth projection for 2022 to 2.6% from 3.6% due to the Ukraine war and to changes in macroeconomic policies made by countries in recent months. In an update to its Trade and Development report, UNCTAD says that while Russia will experience a deep recession this […]
The outlook for global GDP growth has deteriorated significantly as inflation challenges intensify and Russia’s invasion of Ukraine threatens global energy supplies. Fitch Ratings’ March 2022 Global Economic Outlook sees world GDP growth reduced by 0.7pp in 2022 and sharp upward revisions to inflation forecasts. “Global inflation is back with a vengeance after an absence […]
The conflict between Russia and Ukraine is a major blow to the global economy that will hurt growth and raise prices, the International Monetary Fund analysts said in a blog. They said impacts will flow through three main channels. One, higher prices for commodities like food and energy will push up inflation further, in turn […]
The trade between India and Israel has been strong and is likely to reach $ 4 billion in 2021, Sagi Itcher Economic Consul, Head of Economic and Trade Mission, Israel, said. “For 2020, it (bilateral trade between the two countries) was almost $ 3.4 billion. In 2021, I am assuming it will be around $ […]
A new Asia-Pacific free trade agreement set to enter into force on 1 January 2022 will create the world’s largest trading bloc by economic size, according to an UNCTAD study published this week. The Regional Comprehensive Economic Partnership (RCEP) includes 15 East Asian and Pacific nations of different economic sizes and stages of development. They are Australia, […]
A second consecutive record wheat crop, strong global demand, and reduced competition are set to propel Australia’s wheat exports to record volumes, the USDA said in its latest report of world agriculture, making it the third-largest exporter, eclipsing the United States and Canada, which both have smaller crops, tighter stocks, and high prices. After three […]
