BEACON

FICCI president Harsh Pati Singhania while concluding his week-long trip to the US stated that instead of waiting for long, it was in the interest of both the countries to move forward with an Indo-US FTA excluding agriculture. FICCI, the Federation of Indian Chambers of Commerce and Industry represents over 1500 corporates and over 500 [...]

Until Business to Business (B2B) portals came into existence there was not any viable tool to connect the internet and international trade. That was a time when internet penetrated into all the areas except international trade. During that time, in the absence of B2Bs a trader to go beyond one’s domestic trade was very expensive, [...]

Guenter Gloser, deputy foreign minister of Germany in an interview to Reuters said the world’s largest solar project, the German-led consortium Desertec would create win-win environment for both Africa and Europe particularly to the Mediterranean Union states. The $554bn project is expected to transmit power from the Northern African Sahara region to Europe but will [...]

A three-day meet by the Kimberley Process member states is in progress since Tuesday to review and fix illegal trade practices involved in the diamond mining and trade globally. The Kimberley Process Certification Scheme (KPCS) is a rough diamond certification created by more than 75 diamond producing nations to arrest and prevent the trade in [...]

Kroll Global Fraud Report warned that if preventive measures were not taken, a portion of the global economic stimulus package would end up in the hands of fraudsters waiting in wings. The report has come out with a four-pronged formula for governments to tackle this likely scenario of corruption including transparency in the whole process [...]

According to Associated Press analysis, Iran has showed more interest for US goods during the first four months of Obama Administration by doubling its imports from the same period of the previous year. The analysis of US government trade data compiled by the World Institute for Strategic Economic Research indicated US exports to Iran reached [...]

The latest release of Dubai Multi Commodities Centre (DMCC) stated that the International Pulses Trade and Industry Confederation (IPTIC) had decided to relocate its headquarters from Europe to Dubai. President of the IPTIC, Dr. Jose Maria Lazara is learned to have said that the decision to shift their base to Dubai is particularly because of [...]

The first BRIC (Brazil, Russia, India and China) Summit is underway in Russia which has been conducted parallel to the Shanghai Cooperation Organization (SCO) to address the issues of global financial system. The coincidence of the summits reasserts the fact that the participating nations would be playing a larger role in maintaining regional security and [...]

Pakistani exporters besides the political instability sparked off by several terror attacks across the country will have to survive another scare of a new bill which has been proposed to end the presumptive tax structure on its exports. Currently, under the presumptive tax regime the exporters have to pay just the bank deduction of one [...]

In spite of claims of second place in the world on defense equipment export for 2008 and a 17 percent share of the global market, Britain’s defense exports fell marginally over the last five years’ average of 21 percent. According to the UK Trade & Investment’s Defence and Security Organisation (DSO), their firms have recorded [...]