Dhaka: Day-long clashes between shopkeepers in Dhaka’s New Market area, students of the adjacent Dhaka College and the local police left one person dead and over 50 injured.Nahid Hasan, 23, who worked as a deliveryman for a courier service in the Elephant Road area, succumbed to his injuries in the hospital on Tuesday.Among the injured were eight reporters who were attacked during the clashes. Four of them are receiving treatment at Dhaka Medical College Hospital.Highlighting the government’s concern, Education Minister Dipu Moni said that Prime Minister Sheikh Hasina has directed the state to treat the injured, especially the students. All necessary steps have been taken to ensure the advanced treatment of Mosharraf Hossain, a critically injured student of Dhaka College, at a specialised hospital, she added. The Prime Minister also questioned the police’s firing on students, she added.Dhaka Metropolitan police authority on Tuesday said: “Legal action will be taken if the traders file any complaints.”According to witnesses, several cocktail explosions and attacks on the public continued daylong on Tuesday. The students also burnt wood on the roads during the clashes. A number of police personnel had rushed to the spot in a riot van, around three hours after the violence broke out.As per officials, the clash began around Monday midnight. They rushed to the spot and lobbed tear gas shells to bring the situation under control. However, some of the officials suffered injuries in the process, as the students began hurling brickbats at them.Traffic movement on Mirpur Road remained suspended, due the clashes, for over two hours till 2.15 p.m. on Tuesday.Speaking to IANS, the police said that a dispute between two eateries in the New Market area led to the clashes A group of Dhaka College students then got involved in the argument which finally resulted in a deadly clash.The workers and the students clashed for nearly two and a half hours during the wee hours of Tuesday before the police dispersed them using tear gas and rubber bullets. However, the fight resumed in the morning, further crippling Dhaka’s slow Ramadan traffic.Different journalist organisations, including the Bangladesh Federal Union of Journalists (BFUJ), Dhaka Union of Journalists (DUJ), Dhaka Reporters Unity (DRU) condemned the attack on journalists and demanded the immediate arrest of the attackers. They also demanded compensation and necessary treatment of the victims.Nazrul Islam Mithu, President of DRU, and Nurul Islam Hasib, General Secretary, DRU opined that attacking journalists is not acceptable, especially while they are on duty.BFUJ President Omar Faruk, Secretary General Dip Azad, and DUJ president Sohel Haider Chowdhury said those who attack journalists on duty are “nothing short of terrorists”.Assistant Commissioner Sharif Mohammad Faruquzzaman said that the violence eased in the afternoon and stopped for a while in the evening, during Iftar. However, the traders started demonstrating again around 7.45 p.m. while the students had gathered outside the Dhaka College campus. The police had to resort to a baton charge to disperse the storekeepers.According to the injured journalists, both parties involved in the clashes assaulted them whenever they tried to take photographs or video footage of the violence.A photojournalist, who was attacked by the students, said: “They pushed me to the ground and beat me up with sticks and iron rods while I was taking photos. When I told them I was a college alumnus, they let me go. But then I saw, they began thrashing another journalist, Hasan Reza. I, somehow, managed to save him and get ourselves out of there.”Shaheen Ahmed, president of the New Market Shop Owners’ Association, said that the workers of the two eateries, Capital Hostel and Welcome, fought over the ownership of a place to sell Iftar items on Monday evening.“They scuffled at one stage. An employee of Welcome then called some Dhaka College students he was acquainted with. Now things have gone this far,” Shaheen told IANS.A group of 10-12 students were assaulted by the workers of Capital Hostel when they came to support workers of Welcome which finally led to the daylong violent clash, he added.Meanwhile, Chairman of the Opposition Jatiya Party, GM Quader, has condemned the attack on media personnel. Calling upon the law enforcers, he demanded strict action against those who are violating the sanctity of Ramadan and committing acts of terrorism and anarchy. —IANS

Day-long clashes between shopkeepers in Dhaka’s New Market area, students of the adjacent Dhaka College and the local police left one person dead and over 50 injured. Nahid Hasan, 23, who worked as a deliveryman for a courier service in the Elephant Road area, succumbed to his injuries in the hospital on Tuesday.

One Killed, 50 Injured In Clashes Between Dhaka Traders And Students

Day-long clashes between shopkeepers in Dhaka’s New Market area, students of the adjacent Dhaka College and the local police left one person dead and over 50 injured.
Nahid Hasan, 23, who worked as a deliveryman for a courier service in the Elephant Road area, succumbed to his injuries in the hospital on Tuesday.




New Delhi (The Hawk): Union Minister for Power and New and Renewable Energy Shri R.K Singh and German Minister for Economic Affairs and Climate Change HE Dr. Robert Habeck signed a Joint declaration of Intent on Indo- German Hydrogen Task Force virtually today.&nbsp; Shri Singh informed that India has emerged as one of the world leaders in energy transition with the fastest rate of growth of renewable energy capacities in the world.&nbsp;He told his German Counterpart that in India we have a transparent bidding system, an open market, an expeditious dispute resolution system, and we are globally acknowledged as one of the most attractive destinations for investment in RE. Shri Singh informed that India has emerged as one of the world leaders in energy transition with the fastest rate of growth of renewable energy capacities in the world.&nbsp;He told his German Counterpart that in India we have a transparent bidding system, an open market, an expeditious dispute resolution system, and we are globally acknowledged as one of the most attractive destinations for investment in RE.<img src="https://static.pib.gov.in/WriteReadData/userfiles/image/IMG-20220502-WA0027MU5Q.jpg">Shri Singh emphasized that India has huge ambitions in energy transition.&nbsp;It will add 500GW of non fossil fuel capacity by 2030. India is coming out with bids for green hydrogen. The Minister further stressed on the need for developing storage for balancing RE such as pumped hydro and battery storage.&nbsp;It will also need large capacities of electrolysers manufacturing for Green Hydrogen for which India is already planning bids. He invited German industry to come and compete for developing this ecosystem in India.<img src="https://static.pib.gov.in/WriteReadData/userfiles/image/IMG-20220502-WA00280JDQ.jpg">The German Minister appreciated India's ambitious plans for RE expansion and expressed his interest in opportunities for investment in offshore wind farms in India given German expertise in the same.Under the agreement which was signed today both countries&nbsp;will establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilization, storage and distribution of Green Hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&amp;D) projects.&nbsp;India has launched the National Green Hydrogen Mission with the goal to make India the global hub of Green Hydrogen production and export. Germany also has developed an ambitious National Hydrogen Strategy with the aim to assume global leadership in hydrogen technologies. Blessed with abundant renewable energy potential and experience of implementing renewable energy projects, India can produce low-cost Green Hydrogen to progressively decarbonize a range of industry sectors, and also export it to meet global demand. With strengths in innovation and manufacturing, Germany is already implementing numerous hydrogen projects.Trade of Green Hydrogen and/or its derivatives such as Green Ammonia / Green Methanol would form the cornerstone of the collaboration. Institutional collaboration in joint research, light house projects, innovation clusters and hydrogen hubs would catalyse the synergistic efforts of the two countries. The ambitious deployment targets would also create attractive investment and business opportunities for industries from both countries.India and Germany share the common goal to decarbonize their economies. Both nations are committed to develop a national green hydrogen economy. The common long-term goal is to reduce emissions and protect the environment. This requires a global upscale of green hydrogen production and offtake. India and Germany therefore support the establishment of a global green hydrogen economy, to facilitate the achievement of the goals under the Paris Agreement. Both sides are convinced that common goals can be achieved better in close cooperation, building on individual strengths and capacities.

﻿Union Minister for Power and New and Renewable Energy Shri R.K Singh and German Minister for Economic Affairs and Climate Change HE Dr. Robert Habeck signed a Joint declaration of Intent on Indo- German Hydrogen Task Force virtually today. 

Joint declaration of Intent on Indo–German Green Hydrogen Task Force signed

﻿Union Minister for Power and New and Renewable Energy Shri R.K Singh and German Minister for Economic Affairs and Climate Change HE Dr. Robert Habeck signed a Joint declaration of Intent on Indo- German Hydrogen Task Force virtually today. 



New Delhi (The Hawk): The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said India looks forward to&nbsp;significant transformational and exponential growth in its trade with Italy. Co-chairing the India-Italy Business Roundtable with Mr. Luigi Di Maio, Minister of Foreign Affairs &amp; International Cooperation, Republic of Italy, here today, Shri Goyal said there are several opportunities in sectors ranging from tourism, services, merchandise, goods to digital world, education and design.“Today's engagement is only the first in a series that we are planning between India and Italy. A world of 1.35 billion Indians awaits, aspires for a better future. India offers the largest business opportunity anywhere in the world as we progress from a $3 Trillion economy today to a $10 Trillion economy in ten years to a $30 Trillion economy in 20 odd years and to a $50 Trillion economy, which I believe we all are committed to, particularly when we see that we still are at very, very initial stages of development in the country, - the large size of the market, the deep aspirations of the people of India and the talent and the world of opportunity that India provides, I hope, will businesses on both sides to strengthen their partnerships,” said Shri Goyal, in his opening remarks at the meeting.Speaking on the occasion, Mr. Luigi Di Maio said Italy and India are experiencing a dynamic economic cooperation. The Italian Government is eager to reinforce cooperation between the two countries at the industry level as well as between entrepreneurs, he said.“Today’s meeting is an important step forward in shaping our strategic partnership,” said Mr. Luigi Di Maio, adding, “Many Italian companies, in their long term strategy, consider India as a key country whose market will drive growth on a global scale.”Mr. Luigi Di Maio said bilateral trade between India and Italy reached a record Euro 10 Billion in 2020-21.“Over 600 Italian companies, mainly concentrated around Delhi and Mumbai, employ about 50,000 local staff with a global turnover of Euro 5 Billion,” he said.&nbsp;Earlier, Shri Goyal had a very constructive discussion with Mr. Luigi Di Maio during their one-to-one meeting on multiple issues of bilateral interests such as enhancing trade and investment opportunities, India-EU FTA negotiations, cooperation in the framework of the WTO, Tech Summit on energy transition, resumption of direct commercial flights and promotion of SMEs’ partnerships etc.Due to the active relationship between India and Italy and the regular resolution of issues, Shri Goyal suggested evolving and expanding the fast track mechanism established between India and Italy to focus on enhancing economic cooperation and harnessing bilateral trade and investment potential to establish complementarities across focus sectors.Both ministries reiterated the need and potential for closer industrial collaborations and further expand partnerships and establish trade and investment linkages across priority areas such as railways, defence and aviation, automotives &amp; electric mobility, food processing, leather, textiles and fashion, infrastructure financing, fintech, green energy, telecom, energy transition, and space and technology cooperation.

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said India looks forward to significant transformational and exponential growth in its trade with Italy.

India looks forward to significant transformational and exponential growth in its trade with Italy: Piyush 

New Delhi (The Hawk): Ministry of Road Transport &amp; Highways&nbsp;has published a draft notification dated 5.5.2022 regarding amendments in certain provisions of the Central Motor Vehicles Rules 1989&nbsp;pertaining to the Trade Certificate.A Trade Certificate is required only in case of vehicles which are neither registered nor temporarily registered. Such vehicles can only be in the possession of a dealer/ manufacturer/importer of motor vehicles, or a test agency specified in rule 126 or any entity specified by the Central Government.In an endeavour to promote “Ease of doing business”, it is proposed that such agency&nbsp;can&nbsp;apply for a Trade Certificate and Trade Registration Marks electronically for multiple types of vehicles in a single application on the Vahan portal, without the need to visit the RTO. Streamlining of fees&nbsp;is also proposed, on the basis of the&nbsp;number of trade registration marks being applied for. Further, as the Trade certificate and registration marks are proposed to be allotted online i.e. electronically on the portal, therefore compliance burden regarding Intimation of loss or destruction of a trade certificate and application for duplicate has been removed. The validity of the Trade Certificate has been increased from 12 months to 5 years.

Ministry of Road Transport & Highways has published a draft notification dated 5.5.2022 regarding amendments in certain provisions of the Central Motor Vehicles Rules 1989 pertaining to the Trade Certificate.

Draft notification issued  pertaining to ease of doing business - Trade Certificate

New Delhi: India and Uzbekistan on Wednesday held the 15th round of India-Uzbekistan Foreign Office Consultations (FoC) where both sides agreed to exploit the full potential of Chabahar port for trade.The Chabahar Port is India's much-needed gateway to landlocked Afghanistan. The port has also emerged as a commercial transit hub for the region.It is a more economical and stable route for landlocked countries of the region to reach India and the global market."The talks particularly focused on greater economic cooperation and steps to enhance connectivity between India and Uzbekistan. Both sides agreed to exploit the full potential of Chabahar port for trade between the two countries," the Ministry of External Affairs (MEA) statement said after the India-Uzbekistan FOC. During the consultations, both sides undertook a comprehensive review of the state and prospects of bilateral cooperation including political, security, trade-economic, connectivity, development partnership, humanitarian and cultural spheres.The two sides exchanged views on regional and international issues of mutual interest, including Afghanistan.Uzbekistan's Deputy Minister of Foreign Affairs Furkat Sidikov on Tuesday said that his country can be a gateway for Indian businessmen to get access to the Eurasian market.The Uzbek minister also expressed his country's interest in accessing the Chabahar port, being developed by India in Iran for improving logistics."You know that now traditional supply chains are not working well. So in this case, I see that Uzbekistan can be a getaway for Indian businessmen to get access to Eurasian markets. India is one of the biggest investors in Uzbekistan," Sidikov said.He further added there is one issue of logistics and now they will work with the government of India and would like to use Chabahar.Uzbek Deputy Foreign Minister said that India is a tested and reliable partner for Uzbekistan. —ANI

India and Uzbekistan on Wednesday held the 15th round of India-Uzbekistan Foreign Office Consultations (FoC) where both sides agreed to exploit the full potential of Chabahar port for trade.

India, Uzbekistan Agree To Exploit Potential Of Chabahar Port For Trade

Washington: US-China Commission (USCC) criticized China for using promises of economic assistance investment to help secure its strategic interests in countries and noted that there is a growing awareness that trade and investment with Beijing are not only economic issues but also national security issues.At a hearing on "China's Activities and Influence in South and Central Asia" on Thursday (Local time), Commissioner Carolyn Bartholomew in her opening statement said, "Beijing has used the promise of economic assistance, development aid, and investment to help secure its strategic interests in these countries. China's economic diplomacy, however, carries considerable risk."Bartholomew said, we will hear from witnesses, that China has diverse interests in South and Central Asia regions, including economic interests, by gaining access to natural resources and developing new export markets, and geopolitical interests, by aligning or attempting to align other countries with its vision of a Sino-centric international order."As we have seen elsewhere in the world, Chinese investment in and lending to South and Central Asian countries can bring crony capitalism and corruption, unsustainable debt loads, dependence on Chinese trade, and reliance on polluting extractive industries. Belt and Road projects often benefit Chinese companies more than local economies. Moreover, by capturing the interests of local elites, China's presence in the region can undermine the ability of governments and private business to engage effectively," she noted.The commissioner mentioned that some countries are reconsidering the wisdom of pursuing ever-closer economic ties with China.Bartholomew pointed out that China's increasing presence in Central Asia raises possible challenges to Russia's presence, even as Beijing and Moscow publicly declare their "friendship without limits."Moreover, Commissioner Randall Schriver said that during the last hearing on China's activities in Central Asia in 2015, we asked whether China would cooperate with the United States to stabilize Afghanistan and join coalition counterterror efforts. He said, "Needless to say, our hopes for Chinese cooperation in Afghanistan have not materialized. Today, China is actively working to shape the regional security architecture to its benefit through joint military exercises, multilateral organizations like the Shanghai Cooperation Organization, and even the direct presence of armed forces in Tajikistan."The U.S. and Indian defense establishments maintain close engagements that help ensure security with other partners in the region, for example through information sharing and cooperation between our two militaries, he continued.Schriver added, "The United States, India, and other countries in South Asia face a growing military challenge as PLA soldiers encroach on China's borders with Bhutan, Nepal, and India. At the same time, the PLA Navy is expanding its presence and improving its capabilities to deploy and conduct major operations in the Indian Ocean."&nbsp;—ANI

US-China Commission (USCC) criticized China for using promises of economic assistance investment to help secure its strategic interests in countries and noted that there is a growing awareness that trade and investment with Beijing are not only economic issues but also national security issues.

Trade, Investment With China Poses National Security Threat: US-China Commission

Raipur:&nbsp;Ten persons, including two minors, have been nabbed in connection with loot of Rs 50 lakh from a food grains trader in Raipur in Chhattisgarh, a police official said on Sunday.These persons were arrested by a joint team of the Anti Crime and Cyber Unit and Mana police, while three accused are on the run, Additional Superintendent of Police (Rural) Kirtan Rathore said.A group of masked men had attacked businessman Narendra Khetrapal near Dunmartarai Wholesale Market in Mana on May 16 and robbed him of Rs 50 lakh cash, after which a case was registered under IPC section 395 (dacoity). The arrested persons are Shiv Kumar Kosle (21), Manish Yadav (18), Tikesh Chaturvedi (22), Suraj Maheshwar (18), Narendra Banjare alias Babloo (19), Agam Das Kosle (24), Shashikant Chaturvedi alias Golu (29), Banwari Yadav (35), all residents of Raipur, said the officer."We have recovered Rs 7,95,400 cash, five mobile handsets, five motorcycles used in the crime as well as looted ATM card and passbook of the victim," said the additioal SP.—PTI

Ten persons, including two minors, have been nabbed in connection with loot of Rs 50 lakh from a food grains trader in Raipur in Chhattisgarh, a police official said on Sunday.

Chhattisgarh: 10 held for looting Rs 50 lakh from trader

New Delhi: Equity indices failed to hold on to morning gains on Tuesday, with the Sensex falling 236 points amid a sell-off in IT stocks and weak trends from global markets. The 30-share BSE benchmark opened higher but could not carry forward the momentum and declined 236 points or 0.43 per cent to settle at 54,052.61. During the day, it hit a low of 53,886.28 and a high of 54,524.37. The broader NSE Nifty dropped 89.55 points or 0.55 per cent to end at 16,125.15.In the Sensex pack, Tech Mahindra, Hindustan Unilever, HCL Technologies,&nbsp;Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank and Bajaj Finserv were among the biggest laggards.In contrast, Dr Reddy's, HDFC, PowerGrid, Kotak Mahindra Bank, HDFC Bank&nbsp;and Nestle were among the major gainers."Nifty faced selling pressure in the post noon session once again today."It opened flat and rose in the morning."It later came under selling pressure and closed lower for the second consecutive session," said Deepak Jasani, head of Retail Research, HDFC Securities.Asian markets in Hong Kong, Shanghai, Seoul and Tokyo ended lower.Exchanges in Europe were also trading lower in the afternoon trade.Stock markets in the US had ended higher on Monday.International oil benchmark Brent crude dipped 0.46 per cent to $112.9 per barrel. Continuing their selling spree, foreign institutional investors offloaded shares worth a net Rs 1,951.17 crore on Monday, as per stock exchange data."There is no distinct trend in this whipsaw market. Daily trading for the near-term is fraught with high risk," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.—PTI

Equity indices failed to hold on to morning gains on Tuesday, with the Sensex falling 236 points amid a sell-off in IT stocks and weak trends from global markets.

Markets reverse early gains in volatile trade; Sensex falls 236 pts

Karachi: Trade and industry leaders of Pakistan have slammed the Shehbaz Sharif government for increasing the petrol and diesel prices by PKR 30 per litre causing a surge in the cost of production in the country. Zubair Motiwalla, from the Chairman Businessmen Group of Pakistan (BMG), has anticipated a surge in production cost by 5-7 per cent due to the increase in petroleum price, reported Dawn newspaper. He added that the rise in petroleum rates will heavily impact the retail prices of goods, making the lives of the common man more miserable owing to the rising cost of living. "The jump of Rs 30 per litre in petrol and diesel will be difficult for the people and the industry to absorb," Dawn newspaper quoted Motiwalla saying.In addition, he mentioned that the Pakistan government should have increased the rates of petroleum in phases. "The government should have increased the petroleum prices in phases rather than giving a straight jerk to the consumers as well as to the industrial sector... I predict more tough days when the government will meet the other IMF conditions like increasing power and gas tariff, reducing circular debt and removing subsidies," he said. However, the government's decision to raise fuel prices will remove a major obstacle in the way of concluding a staff-level agreement with the International Monetary Fund, reported Dawn newspaper. This price hike came after talks between the Pakistan government and IMF in Doha. These discussions were aimed at reaching an agreement on policies at the conclusion of the IMF's seventh review of its USD 6 billion programmes for Pakistan, which has been stalled since early April.The IMF had refused to revive the USD 6 billion programme if Pakistan fails to remove the fiscally unsustainable fuel and electricity subsidies. It had given Islamabad two days to lift the cap for the continuation of talks Although the increase in fuel prices would cause a surge in inflation, it will pave the way for Pakistan to achieve an IMF loan tranche of about USD 1 billion. It would further unblock assistance from other multilateral and bilateral lenders, shore up foreign exchange reserves, improve the exchange rate and energise the stock market, reported Dawn newspaper. Meanwhile, former Prime Minister Imran Khan has also slammed Shehbaz Sharif for his decision of the petroleum price hike. Pakistan on Thursday raised the prices of petroleum products by PKR 30 per litre, stating that the decision was taken to ensure the revival of the International Monetary Fund (IMF) programme.—ANI

Trade and industry leaders of Pakistan have slammed the Shehbaz Sharif government for increasing the petrol and diesel prices by PKR 30 per litre causing a surge in the cost of production in the country.

Traders, industry leaders slam Pak govt for fuel prices hike

New Delhi: The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices. At the interbank foreign exchange, the rupee opened at 77.65 against the American dollar, then lost ground to quote at 77.67, registering a fall of 13 paise from the last close. On Monday, the rupee settled at 77.54 against the US dollar. The rupee opened weaker against the dollar this Tuesday, tracking a surge in crude oil prices, said Sriram Iyer, Senior Research Analyst at Reliance Securities.Global oil benchmark Brent crude futures rose 0.91 per cent to $122.78 per barrel.Moreover, Asian and emerging market peers were trading weaker this morning and could weigh on sentiments, he noted.Investors will await the Q4 GDP and monthly fiscal deficit data for further cues, Iyer said.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 101.64.On the domestic equity market front, the 30-share Sensex was trading 366.85 points or 0.66 per cent lower at 55,558.89, while the broader NSE Nifty declined 98.90 points or 0.59 per cent to 16,562.50.Foreign institutional investors purchased shares worth Rs 502.08 crore on Monday, as per stock exchange data.—PTI

The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices.

Rupee slips 13 paise to 77.67/USD in early trade

Dubai: Israel signed a free trade deal with the United Arab Emirates on Tuesday, its first with an Arab country, building on their US-brokered normalisation of relations in 2020. Israel's ambassador to the oil-rich UAE, Amir Hayek, tweeted "mabruk" -- congratulations in Arabic -- with a photo of Emirati and Israeli officials holding documents at a signing ceremony in Dubai. The Emirati envoy to Israel, Mohamed Al Khaja, hailed as an "unprecedented achievement" the deal that, according to the Israeli side, scraps customs duties on 96 percent of all products traded. "Businesses in both countries will benefit from faster access to markets and lower tariffs as our nations work together to increase trade, create jobs, promote new skills and deepen cooperation," Khaja tweeted.The 2020 normalisation deal was part of the US-brokered Abraham Accords that also saw Israel establish diplomatic ties with Bahrain and Morocco. Two-way trade between Israel and the UAE last year totalled some $900 million dollars, according to Israeli figures. UAE-Israel Business Council president Dorian Barak predicted that trade would soon multiply between the regional powerhouse economies. "UAE-Israel trade will exceed $2 billion in 2022, rising to around $5 billion in five years, bolstered by collaboration in renewables, consumer goods, tourism and the life sciences sectors," he said in a statement. "Dubai is fast becoming a hub for Israeli companies that look to South Asia, the Middle East and the Far East as markets for their goods and services." Nearly 1,000 Israeli companies will be working in and through the UAE by year's end, he said.Trade diplomacyThe UAE was the first Gulf country to normalise ties with Israel and only the third Arab nation to do so after Egypt and Jordan. Talks for a free trade agreement began in November and concluded after four rounds of negotiations. The latest was held in March in Egypt between Israeli Prime Minister Naftali Bennett and Sheikh Mohammed bin Zayed Al-Nahyan, UAE's long-time de facto ruler who became president this month after the death of his ailing half-brother Sheikh Khalifa. Israel had in March hosted a meeting of the top diplomats from the United States, UAE, Bahrain and Morocco. Sudan in 2020 also agreed to normalise ties with Israel, but the strife-torn northeast African country has yet to finalise a deal. Israel has already struck free trade agreements with other countries and blocs, including the United States, European Union, Canada and Mexico. In February, Israel signed a trade deal with Rabat to designate special industrial zones in Morocco.Palestinian issueThe Abraham Accords broke with long-standing pan-Arab policy to isolate Israel until it withdraws from the occupied territories and accepts Palestinian statehood. Palestinians condemned the agreements struck under then US president Donald Trump, and the conflict continues to inflame tensions, including between Israel and the UAE. Tuesday's signing came two days after thousands of flag-waving Israelis marched through Jerusalem's Old City during a nationalist procession marking Israel's 1967 capture of east Jerusalem. Israel annexed east Jerusalem in 1980, a move never recognised by the international community. The UAE on Monday "strongly condemned" what it called Israel's "storming" of Jerusalem's Al Aqsa mosque compound, one of Islam's holiest sites. The UAE "reiterated its firm position on the need to provide full protection for Al Aqsa Mosque and halt serious and provocative violations taking place there", reported the official WAM news agency.—AFP

Israel signed a free trade deal with the United Arab Emirates on Tuesday, its first with an Arab country, building on their US-brokered normalisation of relations in 2020.

Israel signs UAE free trade deal, its first with an Arab state

New Delhi: Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain. The prime minister also exhorted financial institutions to continuously encourage good financial and corporate governance practices. Inaugurating the iconic week celebrations by the Ministry of Finance and Corporate Affairs as part of the Azadi ka Amrit Mahotsav, Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilisation. "There should be an effort to extend these financial inclusion solutions globally."Modi also launched the 'Jan Samarth portal', a credit-linked portal of 12 government schemes, to ensure ease in credit availability to youth, entrepreneurs and farmers.The Jan Samarth portal will be an 'end-to-end delivery platform', and more people will come forward to avail loans, he said. In his address, the prime minister said: "It is necessary to focus on how to make our domestic banks, currency an important part of international supply chain and trade".Modi said people-centric governance and continuous effort toward good governance have been the hallmark of the government in the past 8 years.He also said that permanent dwelling, electricity, gas, water and free treatment have given poor respect they deserve.—PTI

Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain.

Need to make Indian banks, currency important part of trade: Modi

Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain.



Mumbai: Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points.Continuous foreign fund outflows and surging crude oil prices also weighed on markets.The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.During the day, the benchmark hit a high of 55,423.97 and a low of 54,683.30. The broader NSE Nifty declined 60.10 points or 0.37 per cent to finish at 16,356.25.Home, auto and other loan EMIs will rise after the Reserve Bank of India&nbsp;(RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in rise in prices that it saw continuing to hurt consumers in the near term. With inflation persistently hovering above the upper tolerance limit of 6 per cent, the RBI's six-member rate-setting panel voted unanimously to raise the lending rate of the repurchase (repo) rate by 50 basis points to 4.90 per cent, Governor Shaktikanta Das said.From the Sensex pack, Bharti Airtel, ITC, Reliance Industries, Asian Paints, IndusInd Bank, ICICI Bank and Kotak Mahindra Bank were the major laggards.In contrast, Tata Steel, State Bank of India, Dr Reddy's, Bajaj Finance, TCS and Titan emerged as the gainers."RBI's projections of GDP growth rate of 7.2 per cent and inflation of 6.7 per cent for FY23 reflect a realistic monetary policy."The higher inflation projection indicates that the central bank recognises the seriousness of inflation and the 50 bps repo rate hike is a message that they are determined to anchor inflation expectations."The Governor's remark that the economy remains resilient and recovery has gathered momentum, is bullish from the market perspective," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.The increase follows a 40 bps rise in early May at an unscheduled meeting that kicked off the central bank's tightening cycle.To balance the inflation-growth dynamics, Das said RBI will remain focused on the withdrawal of accommodation as system liquidity continues to be high.Withdrawal of accommodation will be done in a way that growth will continue to get adequate support, he added.The Monetary Policy Committee (MPC) raised its inflation forecast for the current fiscal (April 2022 to March 2023) to 6.7 per cent from April prediction of 5.7 per cent but retained its economic growth projection at 7.2 per cent.Elsewhere in Asia, markets in Shanghai, Tokyo and Hong Kong ended higher, while Seoul settled lower.Stock markets in the US had ended with gains on Tuesday."Quite contrary to outcomes of the previous MPC meets, the rate hike and the subsequent steps announced this time have been fairly in line with the consensus estimates."While RBI's stance has not changed to neutral, the subtle shift from the words 'remaining accommodative' to 'withdrawal of accommodation' is an important take-away."The MPC also increased its CPI estimates to 6.7 per cent from 5.7 per cent for FY23, which now appears to be a more realistic level. "This contributes to enhanced creditability and confidence in RBI's policy decisions," said Yesha Shah, Head of Equity Research, Samco Securities.Meanwhile, international oil benchmark Brent crude jumped 0.93 per cent to $121.69 per barrel.Foreign institutional investors offloaded shares worth Rs 2,293.98 crore on Tuesday, according to stock exchange data.—PTI

Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points.

Sensex falls 215 points in volatile trade post RBI policy

Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points.



Mumbai: The rupee slipped 13 paise to hit its intra-day record low of 77.81 against the US dollar on Thursday, weighed down by elevated crude oil prices and persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 77.74 against the American dollar, then fell further and touched its intra-day record low of 77.81, registering a fall of 13 paise from the last close.On Wednesday, the rupee recovered from its record low to close 10 paise higher at 77.68 against the American currency.The Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in the rise in prices that it saw continuing to hurt consumers in the near term. The rate hike comes on the back of a 40 bps increase by the RBI at an unscheduled meeting on May 4. Global oil benchmark Brent crude futures fell 0.12 percent to USD 123.43 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 percent higher at 102.55.On the domestic equity market front, the 30-share Sensex was trading 10.05 points or 0.02 percent higher at 54,902.54, while the broader NSE Nifty advanced 5.65 points or 0.03 percent to 16,361.90. Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,484.25 crore, as per stock exchange data.—PTI

The rupee slipped 13 paise to hit its intra-day record low of 77.81 against the US dollar on Thursday, weighed down by elevated crude oil prices and persistent foreign capital outflows.

Rupee hits intra-day record low of 77.81 against US dollar

New Delhi (The Hawk): The 12th&nbsp;BRICS Trade Ministers Meeting was held in virtual format on yesterday. Smt. Anupriya Patel, MoS for Commerce and Industry represented India. Intervention of the MoS mainly touched upon certain burning and relevant issues requiring attention. During&nbsp;COVID-19 pandemic, digitalization has emerged as the key driver for global economic growth. Recognizing that Digital Economy is central to the promotion of innovation, pursuing entrepreneurial ventures, creation of jobs, efficiency in services and importantly a marketplace for high value technology based products and solutions and the fact that almost half the world’s population does not have access to high-speed broadband and is hence deprived of the access to virtual platforms, tele-medicine, distance education and e-payments the MoS stressed upon making the digital revolution inclusive by creating an environment where nobody is left behind.On supply chains MoS mentioned that the supply chain disruptions,&nbsp;as a result of&nbsp;lockdowns, limited economic activities and economic slowdown has forced manufacturers everywhere to reassess their supply chains. The main point of supply chain resilience is minimizing negative impacts on people's lives and the economy even in the event of supply chain disruptions caused by pandemics, natural disasters, or regional conflicts. In this context, the MOS highlighted the statement made by Prime Minister Shri Narendra Modi that Transparent, Trusted Sources and Timeframe is critical for improving global supply chain resilience which is imperative for trade revival.While we are conscious of the climate change and the responsibility we have taken on ourselves through reduction of carbon footprint and preventing further degradation of the environment, we should be mindful that any measure taken to implement these should not be trade restrictive, arbitrary and discriminatory. While acknowledging that trade should become the engine for reviving global growth, the MoS stated that there is no alternative to the rules based multilateral trading system and that strong commitment to the WTO rules is the only way forward. The WTO reforms must strengthen the fundamental principles of the WTO including consensus-based decision making, inclusivity, equitable, non-discrimination, special and differential treatment. For MC12 to be successful, the WTO members need to build trust among each other and repose confidence in the multilateral trading system. The decision on the matter of public stockholding for food security needs to be delivered in order to honor the mandate decided by the Ministers. The MoS emphasized that while we look forward for a fair, balanced and equitable outcome in the Fisheries Subsidy Negotiationsin MC12, the principle of ‘Polluter Pays’ and ‘Common but Differentiated Responsibility’ should be applied. Moreover, it is imperative that the S&amp;DT provisions continue to be relevant for the developing countries. The MoS also emphasized upon the need for flexibility in order to make available vaccines, medicines, therapeutics etc. to world citizens in a timely manner and at affordable cost. In conclusion, the MoS stated that as a human society, today, we occupy a very unique position in history. Our immediate actions will decide the future course of life on our planet, Mother Earth.

The 12th BRICS Trade Ministers Meeting was held in virtual format on yesterday. Smt. Anupriya Patel, MoS for Commerce and Industry represented India. Intervention of the MoS mainly touched upon certain burning and relevant issues requiring attention.

There is no alternative to the rules based multilateral trading system

New Delhi: India made a strong pitch for protecting the interests of the developing and under-developed countries at the World Trade Organization (WTO).Union Minister of Commerce and Industry, Consumer Affairs, Food &amp; Public Distribution and Textiles, Piyush Goyal on Monday did some plain speaking at the 12th Ministerial Conference of the WTO in Geneva.He raised concerns about the “skewed” WTO reforms proposal, the imperative need to retain the Special and Differential Treatment (S&amp;DT) provisions for the developing world, global inequities in COVID vaccination and Public Stockholding of food grains, read Ministry of Commerce &amp; Industry press statement.“Current proposals for WTO Reform could fundamentally change its institutional architecture, skewing the system against the interests of developing countries,” said Goyal.“We need to move ahead preserving the core principles of consensus and ensuring S&amp;DT, with people and development being at the core of WTO’s future agenda,” he added.“Friends, those who question the need for S&amp;DT provisions are aware that the per capita GDP of the developed countries is 20 to 50 times that of the developing countries. Even India is at the lower end of the per capita GDP supporting 1.4 billion people. I believe the developing world aspires to work for a better future. Is it humane, fair or even equitable that the developing world takes the same obligations as the developed nations?” he added.He also highlighted the COVID-19 pandemic that exposed the inability of the world to promptly respond to any crisis, whether on food security or health, economic well-being or open supply chains.“When the world was desperately looking for relief, the WTO was found wanting. As an example, vaccine inequity persists even two years after COVID. When people in LDCs and several developing countries are yet to be vaccinated, there are some countries who have already administered the 3rd or 4th dose,” he said, adding, “This is a collective failure of global governance and we need to introspect. Those responsible need to seriously reflect deep within their hearts, it will help us craft a more equitable, fair and prosperous future for every citizen of the world and finally achieve the Sustainable Development Goals we had all collectively agreed upon,” said the release.To rebuild trust and credibility, Goyal said, we must first address mandated issues, like the permanent solution to public stockholding agreed nearly a decade ago, the release added.“The current global food crisis is a reminder to us that we act now! Can we risk the lives of millions of people dependent on food stocks maintained for the poor and vulnerable?” asked Goyal.“During the pandemic, India alone distributed 100 million tonnes of food grain-free of charge to 800 million Indians at a cost of nearly USD 50 billion. This was over and above the food grain distributed as a part of our National Food Security Programme thus ensuring that nobody ever slept hungry,” he said.Goyal argued that while negotiating the fisheries subsidies, the livelihood of traditional fishermen cannot be compromised, said the release. “We cannot institutionalize the privileges of a few countries and take away the right to progress for those who are working for the vulnerable marginalized sections of society. Particularly for those countries, that are not engaged in harmful deep sea fishing, we need to have different views. Otherwise, we may have a similar situation like the Agreement on Agriculture, where inequities &amp; asymmetries persist, causing several countries to still depend on food aid,” he said.Goyal also proposed adopting environmentally-conscious lifestyles, more sustainable lifestyles, based on the 3Ps of “Pro Planet People” to tackle climate change, said the release.“The WTO needs to rebuild trust. It is time to demonstrate goodness, concern for people, more sensitivity to the poor and vulnerable sections of society in the spirit of “Vasudhaiva Kutumbakam”, which we believe in India as “The World is one Family”,” he said.&nbsp;This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.—ANI

India made a strong pitch for protecting the interests of the developing and under-developed countries at the World Trade Organization (WTO).

India Makes A Strong Pitch For Protecting The Interests Of Developing & Under-developed Countries At WTO

Brussels (Belgium): Experts, politicians and victims have jointly raised concerns over the Chinese Communist Party (CCP)'s alleged involvement in the forced Organ Harvesting Trade.They were sharing their experiences at a conference on "Forced Organ Harvesting Trade: the scandal of CCP that continues to Shock the World" in Brussels held on Wednesday.Various journalists and human rights activists heard the recounts of victims and first-hand evidence from one former "prisoner" with personal experience of the organ trade.The meeting was opened by Member of the European Parliament (MEP) Tomas Zdechovsky and others dignitaries present during the conference.They include -- Nico Bijnens, President of Falun Gong Belgium, Carlos Iglesias, Head of the legal team of NGO Doctors against Forced Organ Harvesting (DAFOH), Jiang Yan Hua, A Falun Gong practitioner who was imprisoned for seven years in China and Willy Fautre, Founder and Director of Brussels-based Human Rights Without Frontiers (HRWF).MEP Tomas Zdechovsky stated that China's state supported organ harvesting and trade policy is totally unacceptable. He stated that during his visit to Taiwan, he personally met the victims of forced organ harvesting, whose organs were extracted forcibly and who had gone through this harrowing experience.Zdechovsky stated that it is absolutely clear that China targets Falun Gong practitioners, Tibetans and Christians for organ harvesting."The EU member states will never accept this kind of behaviour by China", he said while dismissing Chinese claims of propaganda as the European External Action Service (EEAS), UN Special Reporters and China Tribunal have the evidence of forced organ trade against Chinese authorities.He warned China that it has to put an end to this practice if it has to do business with Europe.Nico Bijnens from Falun Gong stated that by the end of 1990's more than 100 million Chinese had become Falun Gong practitioners.The Chinese Communist Party (CCP) conceived it as a threat to their own ideology of communism as their cult believed in compassion, tolerance and truthfulness which are in the teaching of Buddhism and Confucius which are part of 5000-year-old Chinese ancient history.He further stated how Falun Gong practitioners were used as living data bank organ donors because of their better health in the multi-million-dollar industry of transplants. He introduced chilling video evidence of the targeting of young Falun Gong practitioners, whose healthy lifestyle makes them targets for the organ harvesting industry while showing a video clip of 10 minutes duration where the "World Organization to Investigate Persecution of Falun Gong (WOIPFG)" conducted an investigation on Li Guowei, a kidney transplant surgeon at Xi Jing Hospital affiliated to Air Force Medical University.The video contained phone recordings from January 10, 2020, to January 12, 2020, to the Kidney transplant department. The phone calls revealed how young prisoners with healthy bodies were used for organ harvesting.These surgeries had started in 1990's and millions of Falun Gong practitioners and others have been persecuted for organ trade. Nico also told that this conference will spread awareness about this evil practice that is happening with full state support in China.Jiang Yan Hua told how practicing Falun Gong immensely benefited her body but when Chinese authorities imposed a crackdown on Falun Gong practitioners in late 1990's, she was illegally kidnapped and jailed for seven years where she was subjected to inhuman torture by the Chinese Authorities like stripping her naked in cold winters of -20 degrees celsius temperature, co-prisoners were asked to beat her senseless and was threatened that her organs will be extracted for organ harvesting.Carlos Iglesias discussed a draft legal text (not complete yet and has been kept under wraps) that could be used as a template for governments to combat organ harvesting.He said that he has been working as a human rights defender against human rights violations in China for the last 20 years. He thanked the European Parliament for passing resolutions against organ harvesting since 2013 but he admitted that these have not had any positive impact on the human rights situation in China and had no effect on organ harvesting and organ trafficking from China.He stated that killing people and extracting their organs on a massive scale has been happening in China for the last 20 years. But the International Community is neither preventing nor punishing these crimes.The Chinese Communist Party (CCP) is running this organised inhuman crime as a criminal organization.The Chinese regime is a serial killer on a big scale. He appealed to the international community to stop and put an end to this practice in China by putting pressure.Willy Fautre discussed the current situation regarding human rights in general in China at present and stated that Xi Jinping is acting like a dictator as he is the General Secretary of CCP, Chairman of Central Military Commission and Chinese President.He has been supporting this inhuman practice that has been going on in China for more than 20 years now.&nbsp;—ANI

Experts, politicians and victims have jointly raised concerns over the Chinese Communist Party (CCP)'s alleged involvement in the forced Organ Harvesting Trade.

China's CCP Accused Of Forced Organ Harvesting Trade

Ayodhya: The Ayodhya administration has issued an ultimatum to traders on the Hanuman Garhi road in here, asking them to vacate their establishments within three days or else be prepared for forced eviction.The eviction is for road widening in the area.A large number of shops on both sides of the Hanuman Garhi Road will have to be demolished to enable widening of road. The Ayodhya administration made announcements on Hanuman Garhi Road through public address system, issuing the ultimatum to shopkeepers to vacate shops.The traders have accused the state government and the Ayodhya administration of backtracking on their promises to rehabilitate them first before demolishing their shops.Moreover, the month-long annual Sawan Mela begins on July 16 and traders want the decision to be postponed till the fair is over. The fair is being held after two years. Nand Kumar Gupta, trader leader, said on Wednesday, "The district administration had assured the traders to allot land behind the existing shops or in the same area before demolishing their shops. This assurance was given in every meeting by the district administration."He said, "Till date, no land has been made available to shopkeepers and no construction of shops has begun. Despite this, the local administration is issuing ultimatum to vacate shops in three days."Around 500 shopkeepers from Shringar Hat barrier up to Ram Janmabhoomi would be affected by the road widening project.The traders' lobby of Ayodhya, associated with the BJP, is also opposing the move but no one is willing to come on record to register their protest."We will try to meet the Chief Minister and apprise him of the issue," a leader said. —IANS

The Ayodhya administration has issued an ultimatum to traders on the Hanuman Garhi road in here, asking them to vacate their establishments within three days or else be prepared for forced eviction.

Ayodhya Administration Asks Traders To Vacate Shops For Road Widening Work

New Delhi (The Hawk): India plans to strengthen its partnership with Africa in four areas to fulfil aspirations of both the countries. First area is solar power, this will help bring clean energy, energy security and will create jobs in Africa. Second is defence trade and military exchanges in Indian Ocean, manufacturing of armoured vehicles and UAVs. Third is physical &amp; digital infra, helping in IT/Consultancy &amp; Project Exports and the fourth one is healthcare &amp; pharma.&nbsp;&nbsp;Speaking at the inaugural session of CII-EXIM Bank Conclave on India-Africa Growth Partnership, the Union Minister of Commerce &amp; Industry, Consumer Affairs, Food &amp; Public Distribution and Textile Shri Piyush Goyal said that deep friendship between India and Africa countries, developing over the years is based on shared history, trade ties &amp; love for cinema. He said that Mahatma Gandhi first practised the principles of Satya &amp; Ahimsa in Africa. Similarity in our freedom struggles have solidified the foundation of our friendship.Shri Goyal said that our government accords highest priority to our Africa engagements. He said we would reassure that India’s ties with Africa are based on trust, friendship and deep understanding of each other’s requirements.He further added that India-Africa partnership will play an important role in our journey going forward as India and Africa are collectively constitutes 1/3 of the world’s population and both of us are very much aliened in several areas.Shri Goyal said that the engagement between CII and EXIM bank put together along with all African nations will play a very critical role in our shared future and prosperity of people of Africa and India.He said, we are working to lead the developing world out of food insecurity, efforts are being made to take quality life and prosperity to the people of India and Africa. Our deep friendship can be best demonstrated by our continuous engagement through Vaccine-Maitri during Covid period. He said that this conference is been held just before India completes 75th year of independence, when we are celebrating the Azadi ka Amrit Mahotsav.&nbsp;We are setting new goals and setting a new vision for India’s development. He further added that as the Prime Minister Shri Narendra Modi calls it Azadi ka Amrit Kaal, the golden era.&nbsp;He said that the mission before the country is to make India a prosperous nation, a nation that cares for both Indian citizen and every citizen of the world. A nation that gives leadership to economic development, growth and prosperity of the world, as we complete 100 years of independence in 2047 the next very important 25 years.He further talked about the support India receives from South Africa, as proposed TRIPS waiver (sponsored by SA &amp; India) and supported by all African countries, shows the prowess of our partnership and our efforts to work as a grouping of developing nations. He said this was evident at WTO Ministerial also, where India and Africa became the voice of developing &amp; less developed countries. He said we achieved the relevance of the multilateral trading systems and protected our future growth imperatives. Together India and Africa can solve several global issues.He said that there are four pillars of India-Africa engagement i.e. people, Business, Trade &amp; Government. There is an Indian diaspora presence in nearly 46 African Countries. India is among top 5 investors in Africa with investment at $71 bn over the last 25 years. He said, our companies are working to support local manufacturing in Africa and to hope to see deeper engagements between business of India and Africa. Further, he added that in terms of trade, Africa is India’s 4th largest trading partner of India. He said our merchandise trade grew by 34% from $67 bn in 2019-20 to $89 bn in 2021-22. India’s export $40 bn and Imports $ 49 bn from various African countries.Shri Goyal said that this is the time, India and Africa can lead global growth. We look at Africa as partners in progress. He said India gave 27 LDC African nations benefit of Duty Free Tariff Preference.Shri Goyal informed that in terms of our Government to Government engagement, we have e-VidyaBharat &amp; e-ArogyaBharati supporting education and healthcare in Africa. He said in the post-Covid world, Indian knowledge in healthcare and education will help deepen engagement with Africa. Further in his address, he said we can work together to bring cost effective solutions in several areas like drinking water logistics , healthcare education , Fintech and solar powers among others too.&nbsp;&nbsp;Shri Goyal said India has created the world's third largest startup ecosystem. India can help co-create similar system in various African nations and DPIIT can share experience &amp; expertise of Startup India for Startup Africa.

India plans to strengthen its partnership with Africa in four areas to fulfil aspirations of both the countries. 

India Plans To Strengthen Its Partnership With Africa In The Areas Of Solar Power, Defence Trade & Others 

Ibaraki (Japan): The Minamata Convention (MC) strives to prohibit and limit mercury commerce, a very dangerous contaminant. While the majority of nations participating in artisanal and small-scale gold mining (ASGM), the leading source of mercury contamination, are MC parties, the efficiency of the method has remained unknown.Researchers have recently created a novel way of assessing discrepancies in global mercury trade statistics by calculating and comparing the mercury intake of ASGM operations to the total mercury accessible domestically.The findings of the research were published in the journal 'Resources Conservation and Recycling'.Mercury (Hg) emissions are extremely toxic and can have broad and long-term effects on human health. Hg can accumulate in soil and water bodies and can enter the food web through staple crops such as rice and seafood.The biggest source of Hg emissions is the artisanal and small-scale gold mining (ASGM) industry, which involves gold mining conducted by miners or enterprises with limited investment and production, and uses Hg to amalgamate gold ores.In light of this, the Minamata Convention (MC) on Hg control came into effect in 2017 with the aim to put a stop to the trade and domestic production of mercury. The MC requires its signatories to stop all trade in metallic Hg, restrict the opening of new primary Hg mines, stop domestic Hg production by 2032, and stop the production and trade of Hg-added products (such as thermometers and Hg-vapor lamps) by 2020.While 137 countries are currently parties to the MC, its efficacy has remained under question. Inconsistencies often exist in global trade data and lead to difficulties in Hg control and the evaluation of the MC. While the supply chains for the ASGM sector are heavily restricted and dried up, the demand for Hg may not have decreased. This gap in supply and demand could spawn informal or illegal Hg trading routes, such as mislabeling, smuggling, and black-market trade. (ANI)Against this backdrop, an international team of researchers from Japan, Chile, and Canada have now investigated this issue in depth. In their study, the team investigated the effect of the MC on the global Hg flow using a method to detect inconsistencies in mercury flow data. The study was led by Dr Yingchao Cheng from the National Institute for Environmental Studies (NIES) in Japan and involved contributions from Dr Kenichi Nakajima and Dr Keisuke Nansai from NIES, Prof. Jacopo Seccatore from Adolfo Ibanez University in Chile, Prof. Marcello M. Veiga from the University of British Columbia, Canada, and Prof. Masaki Takaoka from Kyoto University, Japan.Their method of examining global Hg trade data inconsistencies is based on estimating the Hg input (the Hg that enters the amalgamation process and is lost with tailings and amalgam burning) of countries with ASGM activities and comparing this input amount to the total Hg available domestically (apparent Hg consumption). "By searching for Hg flows that changed significantly after the MC came into force, we can screen out trade routes of interest. This not only helps us see which trade activities have stopped or decreased but also highlights potentially illegal and informal mercury use flows that have appeared post-MC," explains Dr Cheng.The study was performed in 39 countries across four regions. The team identified inconsistencies in Hg trade statistics in African, Central and South American, and some Asian countries (Fig.2). Countries that are parties to the MC showed reduced metallic Hg trade, and those with national action plans (NAP) demonstrated clear active steps towards controlling Hg flow."Our results highlight the importance of managing global Hg flows hidden beneath ASGM activities to enforce a sound Hg management. We believe that devising and implementing NAPs are an important step in this direction," notes Dr Nakajima.Asian countries, however, lagged behind other regions concerning the reduction in Hg trade. While some downturn in Hg export was observed, new import flows of commodities with high Hg content were found to have emerged since 2017.Controlling Hg flow for the ASGM industry is critical for safe Hg management. While inconstancies in trade data make it difficult, this new method helps alleviate most of these issues and ensures that nations spend their resources more effectively on targeting and exposing high-risk trade routes and practices. Such advances in Hg management will reduce human exposure to mercury, allowing people to not only obtain clean gold more easily but also lead better lives.&nbsp;—ANI

 The Minamata Convention (MC) strives to prohibit and limit mercury commerce, a very dangerous contaminant. While the majority of nations participating in artisanal and small-scale gold mining (ASGM), the leading source of mercury contamination, are MC parties, the efficiency of the method has remained unknown.

The Hawk

Tag : Trade

One Killed, 50 Injured In Clashes Between Dhaka Traders And Students

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One Killed, 50 Injured In Clashes Between Dhaka Traders And Students

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