ECB’s Draghi Sees ‘Muted’ Impact To Euro zone From Brexit

The European Central Bank sees a muted impact from Brexit on the euro zone’s economy and financial markets, with the clearing of financial contracts the biggest area of concern, the ECB’s President Mario Draghi said on Monday. “By and large, our estimates show that, on the real side of the negotiation, the impact should be,
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The Arab Petroleum Investments Corporation (APICORP), the multilateral development bank focused on the energy sector, published its latest research report today, which this month analyses the impact on the Gulf’s oil dynamics of new fuel oil regulations for the shipping industry set by the International Maritime Organisation. The International Maritime Organisation (IMO) – a specialised
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The United States has tightened two norms related to its shrimp imports that could hurt India’s shipments even as New Delhi and Washington try to iron out their trade issues. The US wants all fishing nets and vessels to have turtle excluding device (TED) so as to conserve turtles and also wants traceability information on
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When U.S. President Donald Trump fired the first salvos in his trade war with China, the market for hauling bulk commodities that power the Asian country’s economy responded with a surprising surge. Now shipowners are losing their swagger. Rates to haul iron ore and coal on 1,000-foot Capesize ships plunged by 39 percent since reaching
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The recent government decision to relax cabotage for transhipment of ex-im containers at Indian ports seems to be having the desired effect. According to analysts, transhipment of Indian cargo at ports in neighbouring countries has come down and the said volumes at Indian ports have increased. In fact, as per an estimate, there has been
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With the new US sanctions against Iran set to that came into effect from 7th August, the fate of India’s rice and tea exports may now depend on the possible exemption of food and medicines from the sanctions and the agreement on oil imports reached between New Delhi and Tehran. “We are keen to study
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The Union Minister of Petroleum & Natural Gas, Mr Dharmendra Pradhan, has said that India has taken note of the re-imposition of US sanctions on Iran in wake of the US pullout from the Joint Comprehensive Plan of Action on May 8, 2018. Crude oil price fluctuation is a frequent market phenomenon and the price
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GENEVA: Blockchain technology is expected to have a profound impact on trade and transport, according to UNCTAD and the UNECE’s United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT). The technology aims to simplify and streamline trade processes through digitization offering greater transparency, cutting time and costs. In its current form, trade processes require
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US President Donald Trump signed an executive order on May 8, 2018 that will withdraw the US from the Iran nuclear deal and start a 180-day countdown for the Trump administration to re-impose all of the sanctions that were relaxed during the Obama presidency. The Trump administration has given businesses until early November 2018 to
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There is not any evidence yet showing that the shipping sector has been significantly impacted by the escalating U.S.-China trade war, according to the shipping association of one of the world’s most crucial port cities. “In the container segment there is no clear evidence as yet, of any major impact,” Esben Poulsson, president of the
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