India, US talks ongoing to resolve trade issues : Suresh Prabhu

NEW DELHI: Commerce and Industry Minister Suresh Prabhu has said India and the US have exchanged offers for a possible trade deal with a view to resolving issues related to bilateral commerce. “The negotiations are ongoing. Of course, at this stage they have given an offer and we have also given a counter-offer and we
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India and the US have had series of talks for a possible trade deal to resolve issues related to bilateral commerce, said the Commerce and Industry Minister, Mr Suresh Prabhu. “The negotiations are ongoing,” he said. “Of course, at this stage they have given an offer and we have also given a counter-offer and we
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Falling spot LNG prices in Asia and record-high shipping rates could deter the movement of US cargoes to the region this winter as offtakers seek higher-value markets for export. On Wednesday, the prompt-month Platts JKM, the benchmark price for spot-traded LNG in northeast Asia, slumped to $10.20/MMBtu, S&P Global Platts data shows. After climbing to
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NEW DELHI: India’s exports of seafood to the European Union are getting impacted, in part due to tightened quality checks, but the impact of that on total shipments is offset by increased supplies to the US. Until a decade ago, the EU bloc was the main buyer of Indian marine products, primarily shrimps, accounting for
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The U.S. Department of Treasury has designated two Singapore-based companies and one individual for alleged money laundering in support of North Korea. The companies that are being sanctioned are WT Marine Pte, a marine fuels company, and commodities trading house Wee Tiong Pte. Furthermore, two of WT Marine’s vessels are said to have engaged in
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  US crude supply expanded for a fifth consecutive week last week as still-low crude runs at US Midwest and Gulf Coast refiners dented crude demand, US Energy Information Administration data showed Wednesday Total commercial crude inventories increased by 6.35 million barrels to 422.79 million barrels during the week ended October 19, the EIA data
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The Trump administration has approved the Port of Virginia’s Wider, Deeper, Safer project to deepen and widen the Norfolk Harbor’s commercial shipping channels paving the way for the port to become the deepest port on the U.S East Coast. Under the plan, included in the President of the America’s Water Infrastructure Act of 2018, the
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Indian exporters have an increased opening to tap the US market given the escalating trade war between the US and China, the Department of Commerce has surmised. It has reportedly identified close to 180 items where Indian players can take advantage of the opportunity that has opened up due to higher duties imposed by the
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Notwithstanding US sanctions against Tehran coming into force in the next ten days, India took steps to operationalize  Chabahar port  it was constructing in Iran to facilitate movement of cargo to war torn Afghanistan by passing Pakistan. At a trilateral meeting held in Tehran on October 23 between representatives of India, Iran and Afghanistan it
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Booming intra-Asia trades stand to benefit the most from a lengthy US-China trade war.  But low freight rates, overcapacity and poor schedule reliability is putting pressure on shipping lines operating in what is the world’s biggest container market. According to Philip Damas, head of Drewry Supply Chain Advisors, intra-Asia works “on different dynamics” to the
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