In a surprising move aimed at safeguarding its national security, China has announced new export permits for certain graphite products. As the world's leading graphite producer and exporter, china refines over 90% of the global graphite supply, a critical material used in electric vehicle battery anodes.

China tightens its policy graphite exports citing national security

After terrorism & donkeys, Pakistan is now exporting beggars to the world. A Pak Senate committee has admitted that 90% of beggars arrested abroad are of Pakistani origin. Priyanka Sharma brings you a report.

Gravitas: 90% of arrested beggars abroad are Pakistanis

Russia has restricted exports of the diesel, which us used for transportation, heating, and industrial activities, as the northern hemisphere winter approaches and global diesel markets become tight. As Moscow's invasion of Ukraine approaches the 20th month, many observers believe the stop to be temporary. However, some view it as another example of Moscow weaponising energy exports.

Russia restricts diesel exports

China's arms exports have declined due to poor quality and also weak performance. This is all according to reports in the last decade China's Weaponry exports dropped by nearly a quarter.

Report: China's armaments fail to perform as promised

After media reports showed that the United States has expanded exports restrictions on artificial intelligence chips to West Asia, the US Department of commerce clarified that the US "has not blocked chip sales to the middle East." The clarification came after artificial intelligence chip firms Nvidia and Advanced Micro Devices (AMD) received notices about export licensing requirements to ship chips to some West Asian countries.

Clarification after chip firms receive notices on export curbs

The US Commerce Department has unveiled a pivotal initiative aimed at addressing the strained economic relations between the two global powers. This new development includes the launch of export control enforcement information talks and the establishment of a formal working group focused on resolving commercial issues.

US & China launch export talks amid trade tensions

The Kashmiri saffron is famous across the world and Jammu and Kashmir is the second largest producer. Now, the state government aims to further boost saffron production with its new export policy.

The government has shortlisted 60 countries where the demand for Kashmiri saffron is huge.

Saffron, also known as red gold, is one of the most expensive spices in the world. Currently, saffron is cultivated on only 4,000 hectares of land. Experts say that Kashmiri saffron is one of the best in quality and with the implementation of the new export policy, it has the potential to beat the Iranian saffron.

The Department of Agriculture says that within the next two months, the new export policy would be implemented and will provide a big boost for the saffron growers of the valley.&nbsp;

''The saffron from Kashmir Valley is famous. One of the reasons why is it considered the best in quality is because of the favourable climatic conditions it is grown in. While we have been working on increasing the production of saffron, we are also focussing on the export policy, wherein&nbsp;we shortlisted countries where we can sell our produce. Dubai, America and Israel are one of the largest buyers of Kashmir saffron,'' said Chowdhary Mohammad Iqbal, Director, the Department of Agriculture, Kashmir.&nbsp;

Saffron is used in cosmetics, food, and medicines, and is also used for rituals. After the Geographical Indication (GI) tag, symbolising its exclusivity in the international market, the prices for Kashmiri saffron have grown tremendously. Earlier, it used to sell for 60,000 rupees, whereas now it fetches around Rs 2,50,000.

Since the last decade, the area under the saffron cultivation has shrunk from 5,000 hectares to 4000. And around 90 per cent of the cultivation comes from the Pampore area of Pulwama district.&nbsp;Under the new export policy, the government has identified other districts where the land is suitable for saffron farming.

''The data does show that the saffron cultivation area has shrunk, but what we are doing is slowly expanding in the other areas. We want to secure the heritage crop and make sure to increase the space and identify those areas which have the best climatic conditions for the cultivation of saffron,'' Iqbal said.&nbsp;

The government hopes that with the new export policy, more people take up saffron cultivation.&nbsp;

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The Kashmiri saffron is famous across the world and Jammu and Kashmir is the second largest producer. Now, the state government aims to further boost saffron production with its new export policy.

The Kashmiri saffron is famous across the world and Jammu and Kashmir is the second largest producer. Now, the state government aims to further boost saffron production with its new export policy. The government has shortlisted 60 countries where the demand for Kashmiri saffron is huge. Saffron, also known as red gold, is one of the most expensive spices in the world. Currently, saffron is cultivated on only 4,000 hectares of land. Experts say that Kashmiri saffron is one of the best in quality and with the implementation of the new export policy, it has the potential to beat the Iranian saffron. The Department of Agriculture says that within the next two months, the new export policy would be implemented and will provide a big boost for the saffron growers of the valley. ''The saffron from Kashmir Valley is famous. One of the reasons why is it considered the best in quality is because of the favourable climatic conditions it is grown in. While we have been working on increasing the production of saffron, we are also focussing on the export policy, wherein we shortlisted countries where we can sell our produce. Dubai, America and Israel are one of the largest buyers of Kashmir saffron,'' said Chowdhary Mohammad Iqbal, Director, the Department of Agriculture, Kashmir. Saffron is used in cosmetics, food, and medicines, and is also used for rituals. After the Geographical Indication (GI) tag, symbolising its exclusivity in the international market, the prices for Kashmiri saffron have grown tremendously. Earlier, it used to sell for 60,000 rupees, whereas now it fetches around Rs 2,50,000. Since the last decade, the area under the saffron cultivation has shrunk from 5,000 hectares to 4000. And around 90 per cent of the cultivation comes from the Pampore area of Pulwama district. Under the new export policy, the government has identified other districts where the land is suitable for saffron farming. ''The data does show that the saffron cultivation area has shrunk, but what we are doing is slowly expanding in the other areas. We want to secure the heritage crop and make sure to increase the space and identify those areas which have the best climatic conditions for the cultivation of saffron,'' Iqbal said. The government hopes that with the new export policy, more people take up saffron cultivation. WATCH WION LIVE HERE

Under new export policy, Kashmiri saffron to be exported to over 60 countries

Rice prices soared to the highest in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports.

Rice crisis: Prices shoot to 15-year high as threat to supply persists in Asia

The world’s largest rice exporter surprised global market. India imposed a ban on exports of non-basmati white rice. The move came after the retail prices climbed 3% in a month. This was due to damaged crops caused by heavy monsoon rains.

Should India exclude premium rice variety from the export ban?

China&nbsp;on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology.

The restrictions on equipment including some drone engines, lasers, communication equipment and anti-drone systems would take effect on Sept. 1, the commerce ministry said.

The controls would also affect some consumer drones, and no civilian drones could be exported for military purposes, a ministry spokesperson said in a statement.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-detains-singer-for-pulling-down-his-pants-on-stage-at-festival-in-city-of-rock-620760">China detains singer for pulling down his pants on stage at festival in ‘City of Rock’</a>

"China's modest expansion of the scope of its drone control this time is an important measure to demonstrate our stance as a responsible major country, to implement global security initiatives, and maintain world peace," the unidentified spokesperson said.

Authorities had notified relevant countries and regions, the spokesperson said.

China&nbsp;has a big drone manufacturing industry and exports to several markets including the U.S.

U.S. lawmakers have said that more than 50% of drones sold in the U.S. are made by Chinese-based company DJI, and they are the most popular drone used by public safety agencies.

DJI said on Monday it always strictly complied with and enforced laws and regulations of the countries or regions in which it operates, including&nbsp;China's export control regulatory requirements.

"We have never designed and manufactured products and equipment for military use, nor have we ever marketed or sold our products for use in military conflicts or wars in any country," the drone maker added.

Also read |<a href="https://www.wionews.com/world/police-station-struck-in-overnight-strikes-as-ukraine-continues-drone-attacks-on-russia-620958">&nbsp;Police station struck in overnight strikes as Ukraine continues drone attacks on Russia</a>

A German retailer in March 2022 accused DJI of leaking data on Ukrainian military positions to Russia, which the company rejected as "utterly false".

China's commerce ministry said in April this year that U.S. and Western media were spreading "unfounded accusations" that it was exporting drones to the battlefield in Ukraine, adding the reports were an attempt to "smear" Chinese firms and it would continue to strengthen export controls on drones.

The drone export&nbsp;curbs&nbsp;come after&nbsp;China&nbsp;announced export controls of some metals widely used in chipmaking last month, following moves by the United States to restrict&nbsp;China's access to key technologies, such as chipmaking equipment.

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China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology.

China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology. The restrictions on equipment including some drone engines, lasers, communication equipment and anti-drone systems would take effect on Sept. 1, the commerce ministry said. The controls would also affect some consumer drones, and no civilian drones could be exported for military purposes, a ministry spokesperson said in a statement. Also read | China detains singer for pulling down his pants on stage at festival in ‘City of Rock’ "China's modest expansion of the scope of its drone control this time is an important measure to demonstrate our stance as a responsible major country, to implement global security initiatives, and maintain world peace," the unidentified spokesperson said. Authorities had notified relevant countries and regions, the spokesperson said. China has a big drone manufacturing industry and exports to several markets including the U.S. U.S. lawmakers have said that more than 50% of drones sold in the U.S. are made by Chinese-based company DJI, and they are the most popular drone used by public safety agencies. DJI said on Monday it always strictly complied with and enforced laws and regulations of the countries or regions in which it operates, including China's export control regulatory requirements. "We have never designed and manufactured products and equipment for military use, nor have we ever marketed or sold our products for use in military conflicts or wars in any country," the drone maker added. Also read | Police station struck in overnight strikes as Ukraine continues drone attacks on Russia A German retailer in March 2022 accused DJI of leaking data on Ukrainian military positions to Russia, which the company rejected as "utterly false". China's commerce ministry said in April this year that U.S. and Western media were spreading "unfounded accusations" that it was exporting drones to the battlefield in Ukraine, adding the reports were an attempt to "smear" Chinese firms and it would continue to strengthen export controls on drones. The drone export curbs come after China announced export controls of some metals widely used in chipmaking last month, following moves by the United States to restrict China's access to key technologies, such as chipmaking equipment. WATCH WION LIVE HERE:

China increases national security by imposing controls on drone exports

In response to India's announcement of a ban on the export of non-basmati rice, a surge in panic buying of rice has been witnessed in departmental stores across the United States. Watch this to know more.

Here's why India's rice export ban has prompted panic buying in the US

The Indian government has prohibited export of non-basmati white rice, a Directorate General of Foreign Trade notification said on Thursday.

India: Govt bans export of non-basmati rice to keep domestic prices in check

India bans export of non-basmati white rice

India, the world’s biggest rice exporter, banned shipments of non-basmati white rice to maintain domestic prices at comfortable levels ahead of the general election due in early 2024.

India bans non-basmati white rice exports to check local prices

As clouds loom over global food grain supplies after Russia’s withdrawal from the black sea grain deal, India has banned the export of rice with immediate effect. But the ban is limited to varieties of non-basmati white rice.

India's ban jolts food grain supply

Brazilian authorities announced on Monday (June 19) the seizure of 28.7 metric tonnes of illegally acquired shark fins set to be&nbsp;exported to Asia. This confiscation is deemed the largest of its kind at the source, according to officials, as reported by Reuters.

Ibama, the environmental protection agency, estimated that this shipment resulted in the death&nbsp;of around 10,000 sharks, including the blue shark and the shortfin mako shark. Notably, the shortfin mako shark recently entered Brazil's list of endangered species. The interception underscores the ongoing concern over the illegal trade of shark fins and the need for robust conservation efforts to protect these vulnerable marine species.

"These apprehensions on an integrated basis represent the&nbsp;largest&nbsp;recorded in the world, especially considering it is a seizure at the source where the sharks are caught," Ibama said in a statement.

Jair Schmitt, the head of environmental protection at Ibama who spoke to Reuters, revealed that the agency's operation specifically targeted two companies while emphasising that investigations into other entities are still underway.

"This practice is already recurrent in&nbsp;Brazil. We had some years ago the finding of about seven or eight metric tons of shark, seized in Para state, with a similar method of finning," he said, referring to a method of slicing fins off sharks and dumping the rest of the animal into the sea.

Also read |&nbsp;<a href="https://www.wionews.com/world/brazil-battered-by-tropical-cyclone-13-dead-thousands-displaced-605894">Brazil battered by tropical cyclone, 13 dead, thousands displaced</a>

<h2>Brazil's environmental protection efforts intensify&nbsp;</h2>

President Luiz Inacio Lula da Silva's administration has placed the preservation of Brazil's fauna and flora at the forefront, aiming to counter the detrimental effects of weakened environmental agencies and oversight powers under the previous administration led by Jair Bolsonaro.

As a symbol of the restoration of Ibama's commitment to safeguarding marine environments, the recent operation to seize a substantial amount of shark fins assumes great significance.

Jair Schmitt, emphasising the significance of the action, expressed that it represents Ibama's resurgence in combating the illegal fish trade and protecting the marine environment. Although the names of the companies involved were not disclosed, Ibama revealed that a single exporting company in Santa Catarina was responsible for 27.6 metric tons of fins, while the rest were confiscated at Sao Paulo International Airport from the second company.

In response to the seizure, Sea Shepherd Brazil, a nonprofit organisation dedicated to marine conservation, called for a complete ban on the shark fin trade and shark meat imports in Brazil, emphasising the critical role such measures would play in safeguarding these species.

Also watch |&nbsp;At least one dead, one critically injured after school shooting in southern Brazil

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/at-least-one-dead-one-critically-injured-after-school-shooting-in-southern-brazil-606392/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<div class="videoWrapper trancodeVideo">While shark fishing is prohibited in Brazil, Ibama discovered that the boats involved in the illegal trade were exploiting permits granted for the capture of other fish species. Tragically, this illicit activity has led to the death of numerous seabirds, including those belonging to endangered species.</div>

<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">The confiscation of a substantial quantity of shark fins highlights the pressing need for intensified efforts to combat the illegal trade, enforce stricter regulations, and protect endangered marine species. The Brazilian government's commitment to preserving the country's marine ecosystems remains crucial in tackling environmental challenges and fostering long-term sustainability.</div>

(With inputs from agencies)

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Brazilian authorities announced on Monday (June 19) the seizure of 28.7 metric tonnes of illegally acquired shark fins set to be exported to Asia. This confiscation is deemed the largest of its kind at the source, according to officials, as reported by Reuters.

Brazilian authorities announced on Monday (June 19) the seizure of 28.7 metric tonnes of illegally acquired shark fins set to be exported to Asia. This confiscation is deemed the largest of its kind at the source, according to officials, as reported by Reuters. Ibama, the environmental protection agency, estimated that this shipment resulted in the death of around 10,000 sharks, including the blue shark and the shortfin mako shark. Notably, the shortfin mako shark recently entered Brazil's list of endangered species. The interception underscores the ongoing concern over the illegal trade of shark fins and the need for robust conservation efforts to protect these vulnerable marine species. "These apprehensions on an integrated basis represent the largest recorded in the world, especially considering it is a seizure at the source where the sharks are caught," Ibama said in a statement. Jair Schmitt, the head of environmental protection at Ibama who spoke to Reuters, revealed that the agency's operation specifically targeted two companies while emphasising that investigations into other entities are still underway. "This practice is already recurrent in Brazil. We had some years ago the finding of about seven or eight metric tons of shark, seized in Para state, with a similar method of finning," he said, referring to a method of slicing fins off sharks and dumping the rest of the animal into the sea. Also read | Brazil battered by tropical cyclone, 13 dead, thousands displaced Brazil's environmental protection efforts intensify President Luiz Inacio Lula da Silva's administration has placed the preservation of Brazil's fauna and flora at the forefront, aiming to counter the detrimental effects of weakened environmental agencies and oversight powers under the previous administration led by Jair Bolsonaro. As a symbol of the restoration of Ibama's commitment to safeguarding marine environments, the recent operation to seize a substantial amount of shark fins assumes great significance. Jair Schmitt, emphasising the significance of the action, expressed that it represents Ibama's resurgence in combating the illegal fish trade and protecting the marine environment. Although the names of the companies involved were not disclosed, Ibama revealed that a single exporting company in Santa Catarina was responsible for 27.6 metric tons of fins, while the rest were confiscated at Sao Paulo International Airport from the second company. In response to the seizure, Sea Shepherd Brazil, a nonprofit organisation dedicated to marine conservation, called for a complete ban on the shark fin trade and shark meat imports in Brazil, emphasising the critical role such measures would play in safeguarding these species. Also watch | At least one dead, one critically injured after school shooting in southern Brazil While shark fishing is prohibited in Brazil, Ibama discovered that the boats involved in the illegal trade were exploiting permits granted for the capture of other fish species. Tragically, this illicit activity has led to the death of numerous seabirds, including those belonging to endangered species. The confiscation of a substantial quantity of shark fins highlights the pressing need for intensified efforts to combat the illegal trade, enforce stricter regulations, and protect endangered marine species. The Brazilian government's commitment to preserving the country's marine ecosystems remains crucial in tackling environmental challenges and fostering long-term sustainability. (With inputs from agencies) WATCH WION LIVE HERE:

Brazil's epic bust: Country seizes record-breaking illegal shark fin shipment

The latest United Nations report on trade and development shed light on the UK's exports, revealing that, aside from Japan, the UK has had the worst export track record among the G7 countries. According to the UNCTAD, UK goods and service exports were worth 813 billion pounds in 2012. and it only increased by 6% to $862 billion in 2021.

Export growth remains sluggish in UK

India is on its way to cement stronger ties with foreign nations around the world. It is trying to prove its mettle in the global arms trade. For this, India plans to carry out a major change in the deployment of defence attaches overseas. The move is seen as a bid to boost exports of made in India weapons.

What is India's new plan to boost exports of MADE IN INDIA weapons to Africa, West Asia?

US President Joe Biden on Wednesday nominated two prominent Indian American corporate leaders Punit Renjen and Rajesh Subramaniam to his Export Council, the principal national advisory committee on international trade.&nbsp;

White House made the announcement in a statement where it listed all the individuals Biden has nominated to his Export Council. The Council serves as the principal national advisory committee on international trade.&nbsp;This comes after Biden recently nominated another Indian-American Ajay Banga&nbsp;to be the head of the World Bank.

Also Read | <a href="https://www.wionews.com/world/hello-hong-kong-mission-kicks-off-with-half-a-million-free-air-tickets-on-offer-567200">'Hello Hong Kong' mission kicks off with half a million free air tickets on offer</a>

The council advises the president on government policies and programmes that affect US trade performance, promotes export expansion and provides a forum for discussing and resolving trade-related problems among the business, industrial, agricultural, labour, and government sectors.

Rajesh Subramaniam is currently the president and Chief Executive Officer and a member of the Board of Directors of FedEx Corporation, one of the world’s largest transportation companies.&nbsp;

Meanwhile, Punit Renjen retired as Deloitte Global CEO on December 31, 2022 after having served in the role since June 2015. He now serves as Deloitte Global CEO Emeritus. Deloitte operates in 150 countries, with 415,000 professionals, and 2022 revenues of $59.3 billion.&nbsp;

Also Read | <a href="https://www.wionews.com/technology/zero-to-100-in-under-5-minutes-redmi-unveils-300w-fastest-charger-567172">Zero to 100 in under 5 minutes: Redmi unveils 300W fastest charger</a>

Subramaniam is responsible for providing strategic direction for all FedEx operating companies. Subramaniam is chair of the five-person executive committee, which plans and executes the corporation’s strategic business activities.&nbsp;

He is also chair of the FedEx Strategic Management Committee, a select group of the company’s top leadership, which sets the strategic direction for the enterprise.&nbsp;

Before being named President and CEO-elect in March 2022, he was President and Chief Operating Officer of FedEx Corporation. Previously, Subramaniam held various leadership roles in operations and marketing across the FedEx portfolio of operating companies.

Subramaniam also serves on the board of directors of FedEx Corporation, the Procter &amp; Gamble Company, the US Chamber of Commerce’s China Center Advisory Board, FIRST, the US-India Strategic Partnership Forum, and the US-China Business Council, and a member of the US-India CEO Forum.&nbsp;

The corporate leader is also a proud 2023 recipient of the Pravasi Bharatiya Samman Award, the highest civilian award presented by the President of India to the Indian diaspora in recognition of outstanding achievements in India and abroad.&nbsp;

Watch | <a href="https://www.wionews.com/videos/brexit-dup-under-pressure-over-new-ni-deal-567216">Brexit: DUP under pressure over new NI deal</a>

Meanwhile, Punit Renjen during his tenure as CEO developed and executed a global strategy that resulted in Deloitte becoming the leading professional services organisation in the world and recognised as the strongest and most valuable commercial services brand.&nbsp;

Under Renjen’s leadership, Deloitte launched WorldClass—a global effort to prepare 100 million underprivileged people for a world of opportunity—based on the belief that when society thrives, business thrives.&nbsp;

Recently, Deloitte made a commitment to be net zero by 2030 under its WorldClimate initiative and joined the First Movers Coalition. Renjen is deeply committed to advancing diversity and inclusion at Deloitte through measurable actions towards gender balance.&nbsp;

Over his career, Renjen has been recognised by numerous organisations for his leadership, business acumen and commitment to societal impact.&nbsp;

In 2022, Renjen was recognised by the Economic Times as “Global Indian of the Year” and the Carnegie Corporation of America as one of 34 “Great Immigrants. Great Americans.” In 2021, the US-India Strategic Partnership Forum recognised Renjen with its Global Achievement Award. In 2020, Renjen was awarded the Oregon History Makers Medal.

&nbsp;

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US President Joe Biden on Wednesday nominated two prominent Indian American corporate leaders Punit Renjen and Rajesh Subramaniam to his Export Council, the principal national advisory committee on international trade.

US President Joe Biden on Wednesday nominated two prominent Indian American corporate leaders Punit Renjen and Rajesh Subramaniam to his Export Council, the principal national advisory committee on international trade. White House made the announcement in a statement where it listed all the individuals Biden has nominated to his Export Council. The Council serves as the principal national advisory committee on international trade. This comes after Biden recently nominated another Indian-American Ajay Banga to be the head of the World Bank. Also Read | 'Hello Hong Kong' mission kicks off with half a million free air tickets on offer The council advises the president on government policies and programmes that affect US trade performance, promotes export expansion and provides a forum for discussing and resolving trade-related problems among the business, industrial, agricultural, labour, and government sectors. Rajesh Subramaniam is currently the president and Chief Executive Officer and a member of the Board of Directors of FedEx Corporation, one of the world’s largest transportation companies. Meanwhile, Punit Renjen retired as Deloitte Global CEO on December 31, 2022 after having served in the role since June 2015. He now serves as Deloitte Global CEO Emeritus. Deloitte operates in 150 countries, with 415,000 professionals, and 2022 revenues of $59.3 billion. Also Read | Zero to 100 in under 5 minutes: Redmi unveils 300W fastest charger Subramaniam is responsible for providing strategic direction for all FedEx operating companies. Subramaniam is chair of the five-person executive committee, which plans and executes the corporation’s strategic business activities. He is also chair of the FedEx Strategic Management Committee, a select group of the company’s top leadership, which sets the strategic direction for the enterprise. Before being named President and CEO-elect in March 2022, he was President and Chief Operating Officer of FedEx Corporation. Previously, Subramaniam held various leadership roles in operations and marketing across the FedEx portfolio of operating companies. Subramaniam also serves on the board of directors of FedEx Corporation, the Procter & Gamble Company, the US Chamber of Commerce’s China Center Advisory Board, FIRST, the US-India Strategic Partnership Forum, and the US-China Business Council, and a member of the US-India CEO Forum. The corporate leader is also a proud 2023 recipient of the Pravasi Bharatiya Samman Award, the highest civilian award presented by the President of India to the Indian diaspora in recognition of outstanding achievements in India and abroad. Watch | Brexit: DUP under pressure over new NI deal Meanwhile, Punit Renjen during his tenure as CEO developed and executed a global strategy that resulted in Deloitte becoming the leading professional services organisation in the world and recognised as the strongest and most valuable commercial services brand. Under Renjen’s leadership, Deloitte launched WorldClass—a global effort to prepare 100 million underprivileged people for a world of opportunity—based on the belief that when society thrives, business thrives. Recently, Deloitte made a commitment to be net zero by 2030 under its WorldClimate initiative and joined the First Movers Coalition. Renjen is deeply committed to advancing diversity and inclusion at Deloitte through measurable actions towards gender balance. Over his career, Renjen has been recognised by numerous organisations for his leadership, business acumen and commitment to societal impact. In 2022, Renjen was recognised by the Economic Times as “Global Indian of the Year” and the Carnegie Corporation of America as one of 34 “Great Immigrants. Great Americans.” In 2021, the US-India Strategic Partnership Forum recognised Renjen with its Global Achievement Award. In 2020, Renjen was awarded the Oregon History Makers Medal. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Biden appoints two prominent Indian American corporate leaders to his Export Council

China's exports in December fell at their fastest pace since 2020, while imports sharply slowed, signalling risks to the recovery of the world’s second-largest economy.

China's imports, exports plunge in warning sign for economy

President Vladimir Putin has delivered Russia’s long-awaited response to a western price cap, signing a decree that bans the supply of crude oil and oil products to nations that impose the cap. The ban will come into effect on 1 February and last for five months.

WION Fineprint: Putin bans Russian oil exports to countries that imposed price cap

Kenya's old baobab trees being uprooted and prepared for export. This has caused a public outcry. Scientists believe the ancient species plays a role in fighting climate change.

WION Climate Tracker: Kenya's Baobab tree faces new challenge

A media report on Thursday stated that a Pakistani delegation failed to get its demand of a 30-40% discount on crude oil sanctioned from their Russian counterpart, as the latter refused any help and said that all volumes were committed.&nbsp;The delegation, consisting of State Minister for Petroleum Musadik Malik, Secretary Petroleum Capt (retd) Muhammad Mahmood, joint secretary and Pakistan Embassy officials, had requested for a discount on crude oil during their meeting in Moscow on Wednesday.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-eases-covid-restrictions-in-beijing-hints-at-possible-change-in-stance-report-539115">China eases Covid restrictions in Beijing, hints at possible change in stance</a> 
 
The reports stated that the talks failed to reach a conclusion but the Russian delegation said that it will consider the demands of Pakistan in future and relay its decision through diplomatic channels. 
 
Pakistan was further asked by the Russian delegation to first fulfil its commitment towards the Russian proposed Pakistan Stream Gas Pipeline (PSGP), which will be constructed from Karachi to Lahore.

Also read |&nbsp;<a href="https://www.wionews.com/world/eurozone-unemployment-drops-to-all-time-low-post-pandemic-recovery-slowed-by-global-headwinds-539136">Eurozone unemployment drops to record low as global headwinds slacken economy</a> 
 
On November 29, the official delegation of Pakistan left for a three-day visit to Moscow to hold talks with Russian authorities and discuss the import of crude oil at a discount, shipment cost and mode of payment. 
 
The US had clearly stated that it has no objection if Pakistan imports Russian crude oil as currently, Washington has not issued any sanctions against Russian energy exports to other nations. 
 
Before holding talks with Russia, Finance Minister Ishaq Dar had stated that the delegation would try to reach a potential import deal with the Russian oil authorities.

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A media report on Thursday stated that a Pakistani delegation failed to get its demand of a 30-40% discount on crude oil sanctioned from their Russian counterpart, as the latter refused any help and said that all volumes were committed.

A media report on Thursday stated that a Pakistani delegation failed to get its demand of a 30-40% discount on crude oil sanctioned from their Russian counterpart, as the latter refused any help and said that all volumes were committed. The delegation, consisting of State Minister for Petroleum Musadik Malik, Secretary Petroleum Capt (retd) Muhammad Mahmood, joint secretary and Pakistan Embassy officials, had requested for a discount on crude oil during their meeting in Moscow on Wednesday. Also read | China eases Covid restrictions in Beijing, hints at possible change in stance The reports stated that the talks failed to reach a conclusion but the Russian delegation said that it will consider the demands of Pakistan in future and relay its decision through diplomatic channels. Pakistan was further asked by the Russian delegation to first fulfil its commitment towards the Russian proposed Pakistan Stream Gas Pipeline (PSGP), which will be constructed from Karachi to Lahore. Also read | Eurozone unemployment drops to record low as global headwinds slacken economy On November 29, the official delegation of Pakistan left for a three-day visit to Moscow to hold talks with Russian authorities and discuss the import of crude oil at a discount, shipment cost and mode of payment. The US had clearly stated that it has no objection if Pakistan imports Russian crude oil as currently, Washington has not issued any sanctions against Russian energy exports to other nations. Before holding talks with Russia, Finance Minister Ishaq Dar had stated that the delegation would try to reach a potential import deal with the Russian oil authorities.

Pakistan’s hopes dashed, delegation fails to get crude oil on discount from Moscow

Amid the ongoing war in Ukraine, South Korea has become one of the world's biggest exporters of arms with its arms sales increasing to a record high. Yoon is eyeing arms exports as 'future growth engine'.

South Korea: Yoon eyes arms exports as 'future growth engine'

South Korea: Yoon eyes arms exports

China is now offering a boost to economy bruised by covid-led lockdowns. China's export growth unexpectedly picked up speed last month, this come as a relief for the world's second largest economy that is trying to gain some momentum.

China: Export growth picks up

China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-19-induced slump, but weakening global demand could start to drag on shipments in coming months.

Exports rose 18% in July from a year earlier, the fastest pace this year, official customs data showed on Sunday, August 7, compared with a 17.9% increase in June and beating analysts’ expectations for a 15% gain.

Outbound shipments have been one of the few bright spots for the Chinese economy in 2022, as widespread lockdowns hit businesses and consumers hard and the once mighty property market lurches from crisis to crisis.

“China’s export growth surprised again on the upside. [It] continues to help China’s economy in a difficult year as domestic demand remains sluggish,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management.

However, many analysts have expected exports to fade as the global economy looks increasingly likely to be heading into a serious slowdown, weighed down by soaring prices and rising interest rates.

A global factory survey released last week showed demand weakened in July, with orders and output indexes falling to their weakest levels since the onset of the COVID-19 pandemic in early 2020.

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China’s official manufacturing survey indicated activity contracted last month, raising fears that the economy’s recovery from lockdowns in spring will be slower and bumpier than expected.

But there were signs that transport and supply chain disruptions caused by COVID-19 restrictions were continuing to ease, just in time for shippers preparing for peak year-end shopping demand.

Foreign trade container throughput at eight major Chinese ports rose 14.5% in July, speeding up from the 8.4% gain in June, according to data released by the domestic port association.

Container throughput at the COVID-19-hit Shanghai port hit a record high last month.

July exports may also have been buoyed by pent-up demand from Southeast Asia as supply snarls eased and factories there ramped up production, Bruce Pang, chief economist and head of research at Jones Lang Lasalle, said in a research note.

Moreover, amid negative real interest rate and surging inflation, some European and US customers may have front-loaded orders to ensure they had goods on hand with lower costs, he added.

Still, while export growth remained high, mainly backed by price factors, the volume of exported goods dropped in July, said Chang Ran, a senior analyst at Zhixin Investment Research Institute.

“Looking ahead in the second half of the year, exports are expected to be resilient in the short run, but weakening external demand may pressure them in the fourth quarter,” Chang said.

Chinese exporters are facing mounting headwinds, one company executive told Reuters.

“I am very worried about the impacts of soaring US inflation and rising China-US tensions on our export orders,” Jin Chaofeng, general manager at Nicesoul, one of Amazon’s top rattan outdoor furniture sellers, told Reuters.

“If retaliatory tariffs like those in the Trump era happened again, it would deal a blow to our businesses,” Jin said, adding the exports value of his company jumped 70% to 80% in July year-on-year.

Imports still tepid

After a shaky second quarter, most analysts had expected China’s import momentum to pick up modestly in the latter half of the year, supported by construction-related equipment and commodities as the government ramps up infrastructure spending.

But imports last month were again weaker than expected, suggesting domestic demand remains soft.

Imports rose 2.3% from a year earlier, compared with June’s 1% gain and missing a forecast for a 3.7% rise.

“Despite an uptick in domestic demand amid loosening COVID control measures, the weak performance of the production side dragged on imports,” said Xu Shuzheng, a researcher at CITIC Securities, adding that COVID-19 flare-ups may hinder the economy’s recovery.

Crude oil imports in July fell 9.5% from a year earlier as fuel demand recovered more slowly than expected due to fresh virus outbreaks.

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The volume of imported integrated circuits – a major Chinese import – dropped 19.6% in July from a year earlier, according to Reuters’ calculations.

 
That may be an additional red flag for exports, as a significant amount of the country’s imports are components for goods that are then re-exported.

China posted a record $101.26-billion trade surplus last month, well above the $90-billion surplus analysts had expected.

The country’s top economic planner said last week that the economy is in the “critical window” of stabilization and recovery, and the third quarter is “vital.”

Top leaders recently signaled they were prepared to miss the government growth target of around 5.5% for 2022, which analysts said had been looking increasingly unattainable after the economy narrowly avoided contracting in the second quarter.

The International Monetary Fund in late July sharply cut its 2022 growth forecast for China to 3.3% from 4.4% in April, citing COVID-19 lockdowns and the worsening crisis in the country’s property sector.

China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-19-induced slump, but weakening global demand could start to drag on shipments in coming months.

China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-19-induced slump, but weakening global demand could start to drag on shipments in coming months. Exports rose 18% in July from a year earlier, the fastest pace this year, official customs data showed on Sunday, August 7, compared with a 17.9% increase in June and beating analysts’ expectations for a 15% gain. Outbound shipments have been one of the few bright spots for the Chinese economy in 2022, as widespread lockdowns hit businesses and consumers hard and the once mighty property market lurches from crisis to crisis. “China’s export growth surprised again on the upside. [It] continues to help China’s economy in a difficult year as domestic demand remains sluggish,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management. However, many analysts have expected exports to fade as the global economy looks increasingly likely to be heading into a serious slowdown, weighed down by soaring prices and rising interest rates. A global factory survey released last week showed demand weakened in July, with orders and output indexes falling to their weakest levels since the onset of the COVID-19 pandemic in early 2020. Also read | Russia has wired nuclear power plant with explosives: Ukraine China’s official manufacturing survey indicated activity contracted last month, raising fears that the economy’s recovery from lockdowns in spring will be slower and bumpier than expected. But there were signs that transport and supply chain disruptions caused by COVID-19 restrictions were continuing to ease, just in time for shippers preparing for peak year-end shopping demand. Foreign trade container throughput at eight major Chinese ports rose 14.5% in July, speeding up from the 8.4% gain in June, according to data released by the domestic port association. Container throughput at the COVID-19-hit Shanghai port hit a record high last month. July exports may also have been buoyed by pent-up demand from Southeast Asia as supply snarls eased and factories there ramped up production, Bruce Pang, chief economist and head of research at Jones Lang Lasalle, said in a research note. Moreover, amid negative real interest rate and surging inflation, some European and US customers may have front-loaded orders to ensure they had goods on hand with lower costs, he added. Still, while export growth remained high, mainly backed by price factors, the volume of exported goods dropped in July, said Chang Ran, a senior analyst at Zhixin Investment Research Institute. “Looking ahead in the second half of the year, exports are expected to be resilient in the short run, but weakening external demand may pressure them in the fourth quarter,” Chang said. Chinese exporters are facing mounting headwinds, one company executive told Reuters. “I am very worried about the impacts of soaring US inflation and rising China-US tensions on our export orders,” Jin Chaofeng, general manager at Nicesoul, one of Amazon’s top rattan outdoor furniture sellers, told Reuters. “If retaliatory tariffs like those in the Trump era happened again, it would deal a blow to our businesses,” Jin said, adding the exports value of his company jumped 70% to 80% in July year-on-year. Imports still tepid After a shaky second quarter, most analysts had expected China’s import momentum to pick up modestly in the latter half of the year, supported by construction-related equipment and commodities as the government ramps up infrastructure spending. But imports last month were again weaker than expected, suggesting domestic demand remains soft. Imports rose 2.3% from a year earlier, compared with June’s 1% gain and missing a forecast for a 3.7% rise. “Despite an uptick in domestic demand amid loosening COVID control measures, the weak performance of the production side dragged on imports,” said Xu Shuzheng, a researcher at CITIC Securities, adding that COVID-19 flare-ups may hinder the economy’s recovery. Crude oil imports in July fell 9.5% from a year earlier as fuel demand recovered more slowly than expected due to fresh virus outbreaks. Also read | India to block sale of Chinese phones priced below $150: Report The volume of imported integrated circuits – a major Chinese import – dropped 19.6% in July from a year earlier, according to Reuters’ calculations. That may be an additional red flag for exports, as a significant amount of the country’s imports are components for goods that are then re-exported. China posted a record $101.26-billion trade surplus last month, well above the $90-billion surplus analysts had expected. The country’s top economic planner said last week that the economy is in the “critical window” of stabilization and recovery, and the third quarter is “vital.” Top leaders recently signaled they were prepared to miss the government growth target of around 5.5% for 2022, which analysts said had been looking increasingly unattainable after the economy narrowly avoided contracting in the second quarter. The International Monetary Fund in late July sharply cut its 2022 growth forecast for China to 3.3% from 4.4% in April, citing COVID-19 lockdowns and the worsening crisis in the country’s property sector.

China posts record $101 billion trade surplus but export boom could fade

Germany recorded its first monthly trade deficit since 1991 in May as a result of higher import prices, show figures released. The Federal Statistical Office said exports reached $131.5 billion last month.

First export deficit for Germany in over 30 years

Australia's mining and energy export revenues are forecast to climb 3% to a record $286 billion in the year to June 2023, buoyed by surging coal and gas prices in the wake of Russia's invasion of Ukraine.

Australia energy exports expected to climb 3% to $286 billion

E-commerce startup Mixe is looking to source edible items worth USD 100 million from India in the next 18 months to sell it to South Asian expat communities across Europe, a top official said.

Venture capitalist firm Antler-backed startup's co-founder and CEO Jagan Vysyaraju at Vivatech 2022 said that the company has partnered with 12 brands, including MTR, India Gate, Bikaji, Britannia and 4700 BC, to source products and sell them to expats in European countries.

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"We started operations 14 months ago. At present we are sourcing edibles in single digit in USD millions from South Asian countries with most of it coming from India".

"We are looking to increase our partnership with more brands in India. In the next three month we are looking to partner with over 80 brands in the Indian subcontinent, out of which 50 will be from India", Vysyaraju said.

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He said that the startup is helping the brands reach the European market and reducing the burden of building export infrastructure.

"We are looking to source USD 125-130 million worth of edibles from the Indian subcontinent out of which about USD 100 million will come from India".

"We will enter into white labels soon which will provide us more scale and higher participation from firms from India in the European market",&nbsp;Vysyaraju said.

Mixe has also received funding support from Ventures Together and Kima Ventures.

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"We are closing our seed funding round by September to scale up our operations. We have received the funds from some other leading investors as well".

It is in single digit USD million but it can be disclosed only after due diligence is completed in September", he added.

He also said the company will foray into the B2B segment by September with products that are sourced from the Indian subcontinent.

"We have established a product market fit for the B2B segment which is untapped and has immense potential growth. We are running pilots in France and Belgium. We will start full fledged operation from September", Vysyaraju said. 
 
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E-commerce startup Mixe is looking to source edible items worth USD 100 million from India in the next 18 months to sell it to South Asian expat communities across Europe, a top official said.

E-commerce startup Mixe is looking to source edible items worth USD 100 million from India in the next 18 months to sell it to South Asian expat communities across Europe, a top official said. Venture capitalist firm Antler-backed startup's co-founder and CEO Jagan Vysyaraju at Vivatech 2022 said that the company has partnered with 12 brands, including MTR, India Gate, Bikaji, Britannia and 4700 BC, to source products and sell them to expats in European countries. Also read | Reliance Industries plans to buy American bankrupt company Revlon "We started operations 14 months ago. At present we are sourcing edibles in single digit in USD millions from South Asian countries with most of it coming from India". "We are looking to increase our partnership with more brands in India. In the next three month we are looking to partner with over 80 brands in the Indian subcontinent, out of which 50 will be from India", Vysyaraju said. Watch | Cryptocurrency market tumbles as fear of global recession grips investors He said that the startup is helping the brands reach the European market and reducing the burden of building export infrastructure. "We are looking to source USD 125-130 million worth of edibles from the Indian subcontinent out of which about USD 100 million will come from India". "We will enter into white labels soon which will provide us more scale and higher participation from firms from India in the European market", Vysyaraju said. Mixe has also received funding support from Ventures Together and Kima Ventures. Also read | Police recover gold worth Rs 500,000 from clutches of rats in Mumbai city "We are closing our seed funding round by September to scale up our operations. We have received the funds from some other leading investors as well". It is in single digit USD million but it can be disclosed only after due diligence is completed in September", he added. He also said the company will foray into the B2B segment by September with products that are sourced from the Indian subcontinent. "We have established a product market fit for the B2B segment which is untapped and has immense potential growth. We are running pilots in France and Belgium. We will start full fledged operation from September", Vysyaraju said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mixe looks to facilitate export of food items worth USD 100 mn from India in 18 months

Ukrainian President Volodymyr Zelensky warned over blockaded grain stock. Zelensky said the food grain in Ukraine could triple.

‘Volume of grains could triple’: Ukraine warns after Russian blockade of export

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