Author: Trial Content

The Central Bank of Armenia has released a report on the latest exchange rates and prices of precious metals. According to the report, the exchange rate of the Armenian dram against the US dollar has remained stable over the past week, with a slight increase of 0.1%. The report also stated that the prices of precious metals, including gold, silver, and platinum, have seen a decrease in the past week. The price of gold has decreased by 1.1%, while silver and platinum prices have decreased by 2.2% and 2.1%, respectively. The Central Bank of Armenia has been closely monitoring the…

Austria and Turkey are looking to strengthen their economic, trade, and cultural ties, according to a meeting between the two countries’ foreign ministers in Vienna on Friday. Mevlüt Çavuşoğlu expressed his gratitude to Austria for its support following the devastating earthquakes that struck Turkey in February, which killed more than 50,000 people across 11 provinces. The quakes also affected around 14 million people in Turkey and thousands in northern Syria. The two foreign ministers also discussed developments related to Ukraine, Syria, and the South Caucasus. Relations between the two countries have been strained in recent years due to the right-wing…

The Indian government is set to cancel licenses of 18 pharma firms involved in spurious trade as part of an effort to curb the sale of fake medicines. According to a report by NDTV, all 18 listed companies have been instructed to stop manufacturing medicines, with show cause notices issued to an additional 26 firms. The government’s crackdown is aimed at addressing the growing menace of spurious medicines in India and abroad The Drugs Controller General of India reportedly conducted inspections on 76 pharmaceutical companies, with action taken across 20 states in the country. The campaign has been ongoing for…

India’s efforts to promote the internationalization of trade in rupees is creating new opportunities for the country’s foreign trade, even amidst global economic uncertainties. The Foreign Trade Policy 2023 seeks to increase India’s exports to USD 2 trillion by 2030, which is nearly a three-fold jump from expected exports of $770 billion in the financial year 2022/23. The policy is focused on increasing exports on the basis of rupee invoicing and proposes that both trading partners raise their invoicing and settle their transactions on a bilateral basis in rupees. This framework will facilitate the invoicing of exports and imports in…

The United States has officially accepted the Agreement on Fisheries Subsidies for Ocean Sustainability, marking a significant milestone towards the agreement’s entry into force. The US became the fourth member of the World Trade Organization (WTO) to deposit its instrument of acceptance for the landmark agreement, which aims to promote ocean sustainability by setting new multilateral rules to curb harmful subsidies. The Director-General of the WTO, Ngozi Okonjo-Iweala, received the instrument of acceptance from US Trade Representative Ambassador Katherine Tai during a ceremony in Washington, D.C. The acceptance of the agreement by the US, a large fishing nation, is considered…

After fifty-six months of trade war with China, the United States is still maintaining its tariffs on billions of dollars of U.S. imports from China. President Joe Biden’s administration has continued the tariffs, but it has initiated a review to evaluate their effectiveness. Domestic industries and trade associations have been given the opportunity to request the continuation of the tariffs, with U.S. Trade Representative Katherine Tai determining that all Section 301 tariffs would continue to be applied without any changes, subject to a more comprehensive review. The review received over 1,400 submissions from various industries and experts, with only 22%…

India has reported a record-high export of goods worth $447 billion in FY23, an increase of about 6% from the previous year, according to data from the commerce ministry. However, the country’s goods exports in March 2023 slipped to $38.38 billion, registering a 13% fall compared to the previous year. Meanwhile, goods imports rose by over 16% to $714 billion, widening the goods trade deficit to a record-high of $267 billion against the previous year’s $191 billion. The overall trade deficit, including goods and services, touched a record-high of $122 billion during the year, as imports outmatched exports. Energy-related imports,…

Sarah Brisson, a Ph.D. student at the University of Connecticut’s Department of Earth Sciences, is investigating how ecosystems and communities of organisms respond during mass extinction events. These events occur when there are significant environmental changes, and Brisson is focusing on a mass extinction event that occurred about 370 million years ago in the Late Devonian period. The study uses fossils of small, shelled, ocean-dwelling creatures called brachiopods, which were abundant in the sample set from the Appalachian Basin in New York and Pennsylvania. By examining the response of surviving species after the extinction of other species, Brisson hopes to…

India’s Finance Minister, Nirmala Sitharaman, recently highlighted India’s potential to become a significant player in the global supply chain, as companies increasingly shift their operations away from China. During an industry event, Sitharaman pointed out that India’s large-scale production capabilities and competitive pricing make it a highly attractive destination for companies looking to diversify their supply chains. In line with this vision, India has been taking strategic steps to enhance its infrastructure, simplify regulatory processes, and encourage foreign investment. The country has been actively pursuing policies to support its goal of becoming a global manufacturing hub, including the ‘Make in…

According to a recent survey by Anvyl, a supply chain visibility platform, 60% of small and mid-sized businesses (SMBs) experienced up to 15% or more revenue losses in 2022 due to supply chain delays. The study shows that supply chain issues have become a significant concern for businesses, with 56% of SMBs forced to change suppliers over the past year because of costs and delays. Additionally, a quarter of SMB owners and C-suite executives expressed concerns about their supply chain strategies for the year ahead. The situation is a cause for worry for companies, as any disruption in the supply…