Search Result for : Saudi Arabia

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 ...

The Dollar Business Bureau Due to adverse weather conditions, the production of mangoes declined around 70% and mango cultivators have suffered huge losses in Uttar Pradesh this year. Therefore, the exports of ‘king of fruits’ would likely to go down from the state. “This year mango production will be between 10 lakh tonnes to 15 lakh tonnes only. There is 70% drop in mango production as compared to previous year,” Insram Ali, President of All India Mango Growers Association (AIMGA) told PTI. Due to low output, the exports of mango from Uttar Pradesh are also negligible as the growers are unable to export it, Ali said. “Though some growers are exporting it, but overall exports of the fruit will be quite less, he added. “There ...

The Dollar Business Bureau Saudi Arabia has banned the imports of strawberries from Egypt due to pesticide residues found in the consignments. The ban may hit Egypt as the country is still struggling to revive its economy. “The temporary ban on Egyptian strawberries comes into effect on July 11,” Abdel Hamid al-Demerdash, Head of Agriculture Export Council of Egypt told a leading international news agency. It is not specified in the memo received from Saudi Arabia, the residue levels detected or the name of the firms that have committed the violations, he said. “Egypt will not have to face huge losses because of the ban as season for exporting strawberries concluded on April 10,” said Demerdash, while adding that strawberries make up only 5-10% of the total agriculture exports in the country. Last ...

The Dollar Business Bureau  The Customs is intending to impose anti-dumping duty on the imports of clear float glass of nominal thickness ranging from 4mm to 12 mm (both inclusive), from Pakistan (producer M/s Tariq Glass Industries), UAE and Saudi Arabia. The countries have been put under review by the Ministry of Finance as they have been dumping the clear float glass at cheaper rates causing injury to the domestic players. The DGAD  has recommended the imposition of anti-dumping duty of $23.54 per metric tonne, on the clear float glass exports, produced by M/s Tariq Glass Industries of Pakistan.  Recently, the DGAD had imposed a definitive anti-dumping duty on clear glass imports from Iran, ranging from nil to $55.59 per tonne for five ...

The Dollar Business Bureau Saudi’s Aramco plans to deepen the cuts in oil to US, reduce the limit in supplies to some of its Asian client countries in July according to Reuters. Aramco has decided to supply full contracted crude volumes to buyers in North Asian countries, while countries like China, South Korea and India will get lower volumes. The reduction in barrels in July will be deeper than seen in June, which is 300,000 bpd. An unofficial release by a spokesperson of Aramco told a media house that the decision to reduce oil supplies to Asia by about 7 million bpd was conveyed in May. This was the first cuts that the region would experience since the ‘OPEC-led output reductions’ took effect ...

The Dollar Business Bureau The political rift between Qatar and four Arab nations - Saudi Arabia, UAE, Bahrain, and Egypt, has resulted into a full-blown regional crisis, with the severing of air links. The events resulted in the cancellation of dozens of flights daily by state-owned Qatar Airways and other airlines from those nations. This also means that Qatari aircrafts have to take long routes, to avoid the vast airspace of Saudi Arabia and Bahrain. Qatar Airways has turned Doha into an international hub. However the political rift has jeopardised its position as a key transcontinental airlines, according to experts. “The impact is already bad because it has driven up flight times and therefore costs. As the airspace tightens, the problem grows much worse,” said Addison Schonland, an aviation analyst from US-based AirInsight. “This is a ...

The Dollar Business Bureau Credit rating agency S&P Global Ratings on Wednesday lowered the credit rating of Qatar by one level to AA- and put the country on a watch on concerns of further downgrading after four Gulf Arab nations severed ties with Doha.   “We believe this will exacerbate Qatar's external vulnerabilities and could put pressure on economic growth and fiscal metrics,” S&P Global said.  Saudi Arabia, Bahrain, Egypt and the UAE on Monday announced that they were severing diplomatic relations and closing air, land and sea links with Doha.   Saudi Arabia and its allies alleged that Qatar is providing support to extremist groups and serving the interests of Riyadh’s regional rival Iran, claims which Doha has strongly declined.   “At this ...

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...