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The Dollar Business Under a bilateral trade deal between US and China, cooked chicken will be reaching the US shores soon. The deal inked in May, was in exchange of US beef being exported to China and getting cooked chicken in return. This development came after China decided to lift its ban (imposed in 2003) on US beef, after US beef producers were locked out from accessing the huge beef loving Chinese market, due to the spreading of mad cow disease in the bovines, spurring Japan, Mexico and South Korea halting the product from entering their shores. The lifting of the beef ban was big news for US beef exporters as the greater Chinese region (included Hong Kong and Vietnam) is a $7 ...

The Dollar Business Bureau  John Chambers, the Executive Chairman of Cisco Systems Inc was in India during the creation of the US-India Strategic Partnership Forum (USISPF). An ardent admirer of India, its culture and its government’s strategy and vision, John Chambers is confident that India will figure among the top three economic powers in the next 10 to 15 years. He believes that the country’s strength lies in the democracy and the partnerships it has with other countries.  Chambers who is now the Chairman of USISPF declared that, ‘if he were to bet on one nation for future outside the US, it would be India.’ He predicted that India would turn out to be a role model for the world economies.  "You will ...

The Dollar Business Bureau Indian Pharma exports to the US may increase in 2017-18 despite pricing pressure and stiff competition. A report released by Care Ratings said that $50 billion worth of drugs are expected to become 'off-patent' in the current year giving hope to the Indian Pharma export market. "The pharma export volumes from India to US, however, are expected to rise. This will be backed by about $55 billion expected sales gain to generics drugs on account of branded drugs going off patent during 2017-19 which will create an opportunity for CRAMS segment. We expect growth rate for CRAMS (Contract Research and Manufacturing Services) to be higher compared to average growth rate of the industry. These factors are likely to support pharma exports from India," ...

The Dollar Business Bureau The livestock farmers in India have prodded the Government to initiate measures in order to resume the exports of eggs to Qatar, which is now buying the commodity from EU and US at higher prices after the Gulf nation was isolated by its neighbours.  Before 2008, India was meeting 80% of Qatar’s requirements for table eggs. However, after the outbreak of bird flu (avian influenza) in 2006 and 2008 in the northern region of the country, Qatar banned poultry products from India including eggs, according to the Livestock & Agri Farmers Trade Association. Despite norms set by the World Organisation of Animal Health (OIE) to remove the ban after a surveillance of 90 days and to allow imports from ...

The Dollar Business Bureau  India’s widely appreciated basmati rice may face the closed doors of the EU due to the new regulations that EU has imposed on chemical residues, The All India Rice Exporters Association (AIREA) said on Wednesday. A fungicide named tricyclazole which many farmers use to prevent leaf and neck blast in basmati paddy varieties was banned by EU. For sometime EU had allowed a maximum residue limit (MRL) of 1ppm (parts per million) on the basmati rice that was exported to EU. However, it has issued a notification that residues above 0.01 ppm will not be allowed in the basmati imports after Dec 31, 2017.  Speaking to the media, AIREA President, Vijay Setia said it would not only impact their ...

The Dollar Business Bureau  The US administration under President Donald Trump has issued new guidelines for the visa applications from six Muslim-majority nations and all refugees. Visa applicants from these countries now require a ‘close’ family/business relation to become eligible for entering the US. This move came after the US Supreme Court partly restored the executive order issued by the Trump administration barring citizens from the six countries for 90 days to travel to US that was extensively criticised as it targeted only Muslims. Visas, which have been approved already, will not be cancelled. However, the new guidelines issued by the US State Department mentions that the applicants from six Muslim-majority countries of Iran, Sudan, Syria, Somalia, Libya, and Yemen must now have to prove relationship with a parent, ...

The Dollar Business Bureau China-backed buyout fund, Canyon Bridge Capital Partners LLC , which agreed to buy American manufacturing firm Lattice Semiconductor Corp for $1.3 billion in November, will submit the pact for review with the US for the third time, reported a leading international news agency on Sunday, citing sources familiar with the matter. The step comes as Canyon Bridge is seeking to get the approval for the deal from the Committee on Foreign Investment in the US (CFIUS), a government board that assess corporate acquisitions for possible national security risks. The standard review by CFIUS takes around 75 days. The deal was submitted by Canyon Bridge for review in January and again in March. The refilling for CFIUS review resets the ...

The Dollar Business Bureau The EU was the largest destination of exports for Philippines in March this year. The latest statistics by Philippine Statistics Authority (PSA) revealed that exports to European Union member countries, with 16.2% share to total merchandise exports amounted to $901.24 million.  It rose by 56.2% from $577.04 million recorded in March 2016. What was even more interesting was that the export numbers of Philippines to EU for that month overtook those of US which was $809.93 million and Japan $762.43 million. Several factors contributed to the increase in trade numbers. A strong EU economy and its rising demand saw an increase of 1.9%, a rise in the agri-food sector exports backed by the EU’s Generalised Scheme of Preferences (GSP) that allows ...