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Triveni Labour Cooperative to export turmeric to Germany

Rukum- Triveni Labour Cooperative located at Triveni rural municipality in Rukum West has made preparation to export turmeric produced in the district to Germany. The Cooperative, which has established a processing centre, has made a plan to export turmeric produced in the district to abroad. “We had sent dried ginger slice to Germany for trial. […]

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Triveni Labor Cooperative Rukum to export turmeric to Germany

RUKUM: Triveni Labor Cooperative located at Triveni rural municipality in Rukum West has made preparations to export turmeric produced in the district to Germany. The Cooperative, which has established a processing center, has made a plan to export turmeric produced in the district to abroad. “We had sent dried turmeric rhizome slices to Germany for […]

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Triveni Labour Cooperative to export turmeric to Germany

RUKUM WEST, Sep 12: Triveni Labour Cooperative located at Triveni rural municipality in Rukum West has made preparations to export turmeric produced in the district to Germany.  The Cooperative, which has established a processing centre, has made a plan to export turmeric p

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Triveni Labor Cooperative to export turmeric to Germany

RUKUM, Sept 12: Triveni Labor Cooperative located at Triveni Rural Municipality in Rukum (West) has made preparations to export turmeric produced in the district to Germany.

Republica श्रावण २०८०

Triveni Labor Cooperative to export turmeric to Germany

RUKUM, Sept 12: Triveni Labor Cooperative located at Triveni Rural Municipality in Rukum (West) has made preparations to export turmeric produced in the district to Germany.

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Triveni Labor Cooperative to Export Turmeric

Triveni Labour Cooperative has made preparations to export turmeric produced in the district to Germany.

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Triveni Labor Cooperative to Export Turmeric

Triveni Labour Cooperative has made preparations to export turmeric produced in the district to Germany.

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What sanctions are being imposed on Russia over Ukraine invasion?

MAY 5: These are the latest in a series of financial measures by Western countries in response to the invasion of Ukraine. They are designed to damage Russia's economy and penalise President Putin, high-ranking officials and those who have benefited from his regime. What are sanctions? Sanctions are penalties imposed by one country on another, to stop it acting aggressively, or breaking international law. They are among the toughest actions nations can take, short of going to war. What is the EU proposing? The planned sanctions, which have yet to be approved by EU members, include: -Phasing out EU imports of Russian oil crude oil in six months and refined products by the end of 2022 -Disconnecting Russia's largest bank, Sberbank, and the Credit Bank of Moscow and the Russian Agricultural Bank from the international payments system Swift, used to transfer money across borders -Cutting off three of Russia's state-owned broadcasters from the EU on cable, satellite and the internet -Sanctioning 58 Russians, including those involved in war crimes in Bucha and the siege of Mariupol What sanctions are already in place? Western countries have introduced increasingly widespread sanctions - targeting individuals, banks, businesses and major state-owned enterprises, and exports, among others. Financial measures Russia's central bank assets have been frozen, to stop it using its $630bn (£470bn) of foreign currency reserves. This caused the rouble to fall 22% in value, pushing up the price of imported goods and leading to a 14% rise in Russia's inflation rate. The rouble has since recovered, but mainly due to measures by Moscow to prop it up. The United States has barred Russia from making debt payments using the $600m it holds in US banks, making it harder for Russia to repay its international loans. Major Russian banks have been removed from the international financial messaging system Swift,. This will delay payments to Russia for energy exports. The UK has excluded key Russian banks from the UK financial system, frozen the assets of all Russian banks, barred Russian firms from borrowing money, and placed limits on deposits Russians can make at UK banks, Russian energy In addition to the new EU measures, the US is banning all Russian oil and gas imports and the UK will phase out Russian oil imports by the end of 2022. Germany has frozen plans for the opening of the Nord Stream 2 gas pipeline from Russia. The EU has also said it will halt Russian coal imports by this August. Could the world survive without Russian oil and gas? Targeting individuals The US, EU, UK and other countries have together already sanctioned more than 1,000 Russian individuals and businesses, including: -Wealthy business leaders, so-called oligarchs, who are considered close to the Kremlin, including Chelsea FC owner Roman Abramovich. -Russian government officials and family members - including President Vladimir Putin's adult children and relatives of Foreign Minister Sergei Lavrov -Assets belonging to President Putin and Foreign Minister Sergei Lavrov are being frozen in the US, EU, UK and Canada -The UK has also stopped the sale of "golden visas", which allowed wealthy Russians to get British residency rights. What are companies doing? More than 1,000 international companies have either suspended trading in Russia, or withdrawn altogether - including McDonald's, Coca-Cola and Starbucks. Food giant Nestle has withdrawn some of its brands including KitKat and Nesquik, but says it will still sell "essential foods". However, some brands including Marks and Spencer, Burger King, and hotel groups Marriott and Accor say they can't pull out because their businesses in Russia operate under complex franchise deals. Military goods and mercenaries A ban on the export of dual-use goods - items with both a civilian and military purpose, such as vehicle parts - has been imposed by the UK, EU and US. The UK is also imposing sanctions on Russia's Wagner Group - a private military firm thought to function as an arms-length unit of the Russian military. Flights All Russian flights have been banned from US, UK, EU and Canadian airspace. The UK has also banned private jets chartered by Russians. Luxury goods The UK and the EU have banned the export of luxury goods to Russia - including vehicles, high-end fashion and art. The UK has also imposed a 35% tax on some imports from Russia, including vodka. How has Russia reacted? Russia has banned exports of more than 200 products until the end of 2022, including telecoms, medical, vehicle, agricultural, electrical equipment and timber. In addition it is blocking interest payments to foreign investors who hold government bonds, and banning Russian firms from paying overseas shareholders. It has stopped foreign investors who hold billions of dollars worth of Russian stocks and bonds from selling them. With inputs from BBC

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Ukraine war: What support is China offering Russia?

APRIL 15: President Putin has said that Moscow will "redirect" its energy exports to "rapidly growing markets" elsewhere. China has sought to remain neutral on the conflict, calling for a peaceful solution. But it has yet to condemn the Russian invasion and has criticised western sanctions. China's trade with Russia has been growing Bilateral trade with Russia surged in the first quarter of the year, rising by 28% from the previous year, according to Chinese customs data. In March, after Russia launched its invasion, overall trade between the two countries rose over 12% from a year earlier. China accounted for around 18% of Russia's overall trade in 2021 - almost $147bn (£110bn) last year . During President Putin's visit to Beijing in February for the Winter Olympics, the two countries said they would boost trade to $250bn by 2024. However, as a bloc, the EU remains by far the biggest overall trading partner with Russia. In 2021, total trade between the two was worth almost twice as much as China's trade with Russia. That could now be changing. "It is inevitable that EU-Russia trade diminishes in the light of sanctions," says trade economist Dr Rebecca Harding. "The current crisis has just sharpened a focus within the EU on the need to diversify supply". Could China buy more Russian energy? China is one of the biggest markets for Russian oil, gas and coal. Just a week before the Ukraine invasion, the two countries agreed on a new Russian coal deal worth more than $20bn. Mr Putin also unveiled new Russian oil and gas deals with China worth an estimated $117.5bn. The two countries aim to build a new gas pipeline (the Power of Siberia 2). The existing one began operation in 2019, under a 30-year contract worth more than $400bn. However, Russia's biggest energy market by far has been the EU, and it supplies 40% of the bloc's gas and about 26% of its oil. "Russian exports of oil and gas [to China] have been increasing at a rate of over 9% annually for the last five years". says Dr Harding. "This is rapid growth but even so, China is half as big as the EU market for Russian oil." The EU is reducing its reliance on Russian energy by cutting its gas imports by two-thirds in the wake of the Ukraine war. Germany, Russia's main export destination for natural gas, has announced that it would suspend the new Nord Stream 2 gas pipeline. Supplies via a new pipeline agreed between Russia and China would have only a fifth of the capacity of the Nord Stream 2 pipeline, according to one analysis. Also, it's not clear when the new gas pipeline from Siberia will come on stream. Over the longer term, China may want to boost imports of Russian gas to try to reduce its dependence on coal in order to meet targets for cutting greenhouse gases. But data shows that China's crude imports from Russia dropped 9% in the first two months of 2022. Its state-owned refiners are also reported to be cautious and not currently signing new Russian oil contracts. Could China support Russia militarily? Moscow has asked China for military equipment in support of its invasion of Ukraine, according to US official quoted in media reports. China says this is untrue and has called the reports "disinformation". In recent years, most of the movement in arms has been the other way. China has relied heavily on Russian military hardware to modernise its armed forces, made increasingly necessary by the imposition of US and European arms embargoes in the wake of the 1989 Tiananmen Square crackdown. About 80% of China's total arms imports were from Russia between 2017 and 2021, according to Stockholm International Peace Research Institute (SIPRI). These Chinese purchases make up 21% of Russia's total arms exports - its second largest global customer. But China has been gradually expanding its own military production capabilities. It's now the world's fourth largest arms exporter. "China's weapons are getting more advanced now. Its drones, for example, are one area that Russia would be very interested in," says Siemon Wezeman at SIPRI. But, he says, "so far we haven't seen any evidence" that Russia has bought Chinese drones. Could China help Russia financially? Some Russian banks have been banned from the Swift international payment system. This has forced companies in China, as elsewhere, to cut back purchases from Russia as traders struggle to arrange financing. Both China and Russia have encouraged moves towards alternative payment methods in recent years. Russia has its System for Transfer of Financial Messages (STFM) while China has the Cross-Border Interbank Payment System (CIPS), both of which operate in their own currencies. But Swift has continued to dominate the financial transactions in the global trading network. Currently only about 17% of trade between Russia and China uses the Chinese yuan (up from 3.1% in 2014), according to media reports citing official Russian statistics. Energy trading between the two countries is still mostly done in US dollars. But report suggests that several Chinese firms used yuan to purchase Russian coal and oil in March. Could China expand food trade with Russia? China is a major importers of grains such as wheat and barley and one of its most important sources is Russia - one of the world's largest producers. Until very recently, China had placed restrictions on the importing of wheat and barley from Russia because of disease concerns. But these were all lifted on the day the Russian assault on Ukraine began. With inputs from BBC

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What sanctions are being imposed on Russia?

FEB 23: However, Russian president Vladimir Putin's move has not triggered the full range of sanctions Western nations have prepared. What is a sanction? A sanction is a penalty imposed by one country against another, often in order to stop it acting aggressively or breaking international law. Sanctions are often designed to hurt a country's economy, or the finances of individual citizens such as leading politicians. They can include travel bans and arms embargoes. They are among the toughest measures nations can use, short of going to war. What sanctions have been imposed on Russia? The EU is sanctioning 27 Russian individuals and organisations, including banks. It is also limiting access to European capital markets — cutting off the ability to access funds from EU banks —and banning trade between the EU and the two rebel-held regions. Some 351 members of Russia's Duma, parliament's lower house, are also being targeted with sanctions. US sanctions announced on Tuesday are intended to hurt Russia's ability to finance its military efforts. They target two state-owned banks the US has said are key to Russia's defence sector. They will no longer be able to do business in the US or access the American financial system. The US said it was also sanctioning five key Russian elites and adding restrictions on US deals involving Russia's national debt. Americans are now banned from doing business in the rebel-held areas of Luhansk and Donetsk, after Russia recognised them. It has ordered troops there, but says they have not yet been deployed. Few US firms are active in the regions involved. But the White House said it could impose wider sanctions "should Russia further invade Ukraine". UK Prime Minister Boris Johnson announced sanctions against five Russian banks and three wealthy Russian businessmen. "This the first tranche... and we hold further sanctions at readiness to be deployed," the PM said. However, some MPs said the government should have been tougher - targeting more banks and oligarchs. German chancellor Olaf Scholz has put on hold permission for the Nord Stream 2 gas pipeline from Russia to Germany to open. What other sanctions could Russia face? Western nations have threatened Russia with harsh sanctions if it invades Ukraine. Excluding Russia from Swift One measure would be to exclude Russia from the global financial messaging service Swift, which is used by thousands of financial institutions worldwide. This would make it very hard for Russian banks to do business overseas. However, this would have an economic cost for countries like the US and Germany, whose banks have close links with Russia. The White House says it is unlikely to be unleashed as an immediate response to an invasion. Banning Russia from using the US dollar The US could ban Russia from financial transactions involving US dollars. Any Western firm that allowed a Russian institution to deal in dollars would face penalties. This could have a huge impact on Russia's economy as most of its oil and gas sales are settled in dollars. It could cripple Russia's foreign trade in other sectors. However, it would mean Russia's oil and gas exports would slump, and that would affect European countries which are dependent on Russian gas. Block the banks The US could blacklist Russian banks, making it almost impossible for it to conduct international transactions. Moscow would have to bail out the banks and do what it could to avoid inflation rising and incomes falling. However, this would hurt western investors with money in those banks. Besides, Russia has reserves of over $630bn (£464bn) in its central bank to guard against such economic shocks. Blocking the export of hi-tech to Russia The West could restrict the export of key hi-tech commodities to Russia. The US, for example, could stop companies selling goods such as semiconductor microchips. These are used in everything from cars to smart phones. This would affect not just Russia's defence and aerospace sectors, but whole swathes of its economy. However, it could hurt the business of companies which export the technology. Energy restrictions Russia's economy is hugely dependent on selling gas and oil overseas and Western nations could refuse to buy oil and gas from the big Russian energy giants such as Gazprom or Rosneft. Again, however, this could bring higher gas prices and fuel shortages to Europe. Germany, for example, relies on Russia for one-third of its gas supplies. Limiting Russian access to London's financial institutions Such is the scale of Russian money in banks and property in the UK that the capital has been dubbed "Londongrad". The UK government claims it is tackling this problem with "unexplained wealth orders", which require people to say where their cash has come from. But only a handful of these orders have ever been used. Difficulties for the West Western countries have coordinated plans for severe sanctions if Russia launches an all-out invasion of Ukraine. But what if it only takes action in small steps? US and European diplomats say Western countries are less united in how to respond to these scenarios. Some countries which have closer relations with Russia - such as Hungary, Italy, and Austria - may be unwilling to trigger major sanctions. BBC

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German exports rise past pre-pandemic levels in June

BERLIN, August 9: German exports soared past pre-pandemic levels in June for the first time since the coronavirus crisis wreaked havoc on trade, official data showed Monday, as the industry shrugged off supply chain shortages. The pandemic has severely disrupted global supply chains, leading to shortage in raw materials or components including timber, plastics and steel. Germany's crucial car industry has also been hit by a global computer chip crunch caused by a surge in demand for home electronics as employees are asked to work from home to cut infection risks. But Europe's biggest economy exported 118.7 billion euros ($140 billion) of goods in June, 1.1 percent more than in February 2020 -- before the health emergency snared Germany. The indicator rose for the 14th month in a row, and was 1.3 percent higher compared to May, after seasonal variations and calendar effects were taken into account. "Today's strong data illustrates that supply chain frictions have not yet affected German exports," said analyst Carsten Brzeski of ING. But he warned that this could change in coming months. "While order books are still richly filled, supply chain frictions, particularly the lack of microchips, could lead to more delivery problems in key sectors like the automotive industry and therefore to some distortions of export data in the coming months," he said. Imports also saw a slight gain of 0.6 percent compared to a month ago to 102.4 billion euros. Demand from the European Union for German goods was up 26.1 percent compared to a year ago, while that from other countries rose 20.7 percent. China, a key market for Germany, imported 16 percent more than a year ago.

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