Qatar crisis not to affect LNG exports to India, China
The Dollar Business Bureau With the recent crisis in Qatar of boycotting Doha by four Arab nations, liquefied natural gas (LNG) exports from the country to the Asian countries including India, China, Japan and South Korea, have not to be impacted, said a Qatari official. “Exports of liquefied natural gas (LNG) to India, Japan, China and South Korea have not been affected by the boycott of Qatar by four Arab states, said Qatar’s Energy Minister Mohammed al-Sada on Monday. The Minister said that the exports from Qatar to the four Asian nations make up for around three-fourth of the country's overall exports. Qatar’s exports to the Bahrain, Saudi Arabia and the United Arab Emirates account for only 8%, al-Sada said in a statement. “Qatar remains committed to all its agreements with its partners and is determined to ...
Government raises import duty on aluminium and steel
Source: PTI Government has raised basic customs duty on base metals such as iron, steel, copper, nickel and aluminium by 2.5%. Finance Minister Arun Jaitley on Wednesday approached Parliament seeking to increase the basic customs duty by 2.5 per cent on specified goods falling under Chapter 72. Under the Central Board of Excise and Customs (CBEC), this pertains to base metals, which includes commodities such as iron and steel, copper, nickel, aluminium, lead, zinc, tin, tungsten (wolfram), molybdenum, among others. Domestic steel producers are demanding increase in import duty to check cheap imports from China, Korea and Japan. In June, the government raised basic customs duty (BCD) on some long and flat steel products by 2.5%. Import duty on flat ...
No further change to import duty on steel, Finance Ministry
The Dollar Business Bureau Increasing import duty on steel products may increase the raw material cost for other industries using the metal, the Finance Ministry said and decided to keep the existing import duty on steel unchanged. “Further increase in import duty will affect downstream industry. It will raise the price, which in turn will have impact on inflation,” a report quoted a senior Finance Ministry official as saying. The remarks came days after the engineering export promotion council (EEPC) had expressed concern over the import duty on steel. At present, the government levies 10% import duty on flat products of steel and 7.5% on bars. But domestic steel producers have been demanding a hike in the import duty, saying that ...
