Nigeria may lift import ban on certain goods
The Dollar Business Bureau Considering the demand from importers to ease the ban on goods, Nigeria is considering lifting the ban on certain products from accessing foreign exchange. Speaking to the media Yemi Osinbajo, Vice President of Nigeria said the country may end a ban that prohibits the importers of some specific goods to access foreign currency on Nigeria’s interbank market. The Nigerian government will be considering “policy-driven restrictions” in order to promote the domestic manufacturing of around 41 items like toothpicks and rice, the Vice President said in a speech on Tuesday. The easing of import ban could be the latest in the restrictions on foreign-currency trading to be eased by the Central Bank of Nigeria after it lifted a currency ceiling in June ...
Brazils meat exports hit by restrictions from 4 major meat importers
The Dollar Business Bureau Some of the world’s biggest meat consuming countries have slapped restrictions on meat being exported from Brazil’s food conglomerates JBS S.A. and ERF. China, EU, Chile, Hong Kong have temporarily suspended the meat shipments from the country as news reports from Brazil’s federal authorities revealed bribery investigations into the approval of spoiled meat. Other countries like Singapore, South Korea and Qatar were guarded and monitoring the meat shipments arriving from the South American country official news reports revealed. Brazil’s federal authorities revealed five days ago, that the investigations are continuing on the allegations that JBS S.A. and BRE S.A. had bribed government officials to endorse the sale and export of contaminated meat. Some of the meat including cold ...
India lifts ban on imports, exports from Iran
The Dollar Business Bureau Following the lifting of sanctions against Iran by the United States and others Western powers in January this year, India has also followed suit by lifting the ban on export and import of certain items from the Persian Gulf nation. “The prohibition on direct or indirect export to Iran or import from Iran of specified items is lifted,” the Directorate General of Foreign Trade (DGFT) in a notification said. “Direct or indirect exports to Iran or imports to Iran is now permitted subject to UN Security Council Resolution 2231 (2015) and IAEA specified documents,” the notification also added. Bilateral trade between India and Iran stood at $9 billion in 2015-16 as against $13.13 billion in 2014-15. After Iran signed the nuclear deal with the main ...
