Indian government takes steps to regulate sugar and jute markets
November 2, 2023
The Indian government has recently taken a series of measures in the sugar and jute markets to stabilize market supply and prices. The Directorate General of Foreign Trade under the Ministry of Commerce and Industry of India issued an announcement on October 18, stating that the export restrictions on sugar (including raw sugar, white sugar, refined sugar, and organic sugar) will continue to be extended. This export restriction order will be extended beyond October 31 this year until...
The United States updated its policy on South Korean companies’ factories in China and adjusted sanctions on Venezuela
1 November 2023
Recently, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce issued a new regulation updating the policies for the Chinese factories of two South Korean companies—Samsung and SK Hynix. According to this new regulation, the Chinese factories of these two companies have been included in the Validated End-User (VEU) list, which means that these companies will no longer need to...
Italys clothing industry hit by climate change, inflation
October 31, 2023
The summer of 2023, recorded as the hottest season ever, not only poses unprecedented challenges to humankind, but also has a serious impact on the Italian clothing industry.The Italian Clothing Federation Fismo reports that the abnormally high temperatures have led to a sharp decline in the purchase of winter clothing, while the impact of inflation has forced families in Italy and Europe to rethink the...
US Customs rejects food list: India and Mexico are most affected
26 October 2023
Recently, The Indian Express reported a concerning issue, which is the rejection of Indian food products by the United States. In global trade, food safety has always been a core issue. When food is rejected, it indicates that there may be serious quality and safety issues, which is a significant blow to any exporting country. According to the U.S. Food and Drug Administration (FDA)...
Sri Lanka and Bangladesh prepare to join RCEP
October 24, 2023
Four years after India withdrew from the Regional Comprehensive Economic Partnership Agreement (RCEP), its neighbors Sri Lanka and Bangladesh are now actively considering joining this large trade alliance to open up broader markets for their economies.RCEP is the largest trade agreement in Asia, which includes China, Japan, South Korea, ASEAN countries, Australia and New Zealand, and collectively accounts for the world’s largest trade agreement.
The Palestinian-Israeli conflict escalates, and operations of many ports are hampered
16 October 2023
Recently, the conflict between Palestine and Israel has escalated again, with both sides using a large number of heavy weapons in the confrontation. The range of this conflict has covered 80 nautical miles along the coast, posing a serious threat to the safety of surrounding ports. When Hamas launched an attack last Saturday, the cargo ship Oceania Nautica was docked at Haifa Port. Fortunately, due to the ports...
How India promotes the transformation of domestic manufacturing through IT hardware import policy
12 October 2023
India, as a growing economy and a huge market entity, has had a profound impact on the development trajectory of the global IT hardware industry. With the Indian government’s determination to drive the development of domestic manufacturing, its recent series of measures on IT hardware import policy has attracted widespread attention in the industry. These policies attempt to protect the domestic industry, reduce import dependence...
Regulations on the revision of Regulations on the Use of Food Additives in the European Union
10 October 2023
In the ongoing regulation and evaluation of food additive usage, the European Union has always placed the utmost importance on the food safety of its citizens. After careful consideration and evaluation, based on food safety considerations, Regulation (EU) 2023/2379 was officially issued on October 3, 2023, and will amend the food additive usage regulations (i.e., Regulation (EC) No 1333/2008)...
Ups and downs: layoffs at the British port of Liverpool caused waves
9 October 2023
On the global economic chessboard, every change in the container shipping market symbolizes countless business opportunities and challenges. Recently, Liverpool Port, long regarded as a major port in western England, decided to lay off employees due to the continuous deterioration of the global container shipping market. This unusual move undoubtedly caused ripples worldwide. I. Liverpool Port...
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