G20 nations imposed 59 import-restrictive measures in 7 months: WTO

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The G20 countries imposed as many as 59 trade-restrictive measures such asimport bans and stricter customs procedures during mid-October 2019 and mid-May 2020, according to a WTO report.


G20 members include India, Argentina, Australia, Brazil, Canada, China, France, Germany, Japan, Russia, the UK, and the US, among others.



“During the mid-October 2019 to mid-May 2020 review period, G20 economies implemented 154 new trade and trade-related measures, 95 of them import-facilitating and 59 import-restrictive. Of these measures, 93 (about 60 per cent) were linked to the Covid-19 pandemic,” it said.


Tariff increases, import bans, stricter customs procedures, export duties and other such measures introduced during the review period affected 2.8 per cent of G20 trade, it said.


Commenting on the report, WTO Director-General Roberto Azevdo said: “Historically high levels of trade-restrictive measures remain a source of concern, all the more so at a time when international trade and investment will be critical to rebuild economies, businesses and livelihoods around the world”.


He said that there are signs that trade-restrictive measures adopted in the early stages of the pandemic are starting to be rolled back.

Spencer’s Retail posts Rs 49.45 crore pre-tax loss in March quarter

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Despite posting a 22.27 per cent rise in its revenue at Rs 640.05 crore during the March quarter, Spencer’s Retail posted a pre-tax loss of Rs 49.45 crore primarily owing to steep rise in finance costs, depreciation and amortization and purchase of stock-in-trade.


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It had earned a revenue of Rs 523.46 crore during the similar quarter of the 2018-19 financial year year with a of Rs 1.22 crore. The company posted a net loss of Rs 49.26 crore during the period under review as against a net profit of Rs 1.83 crore during the Q4 period of the 2018-19 financial year.


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Ex-officers Charged In George Floyd Killing Due In Court

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The former police officer charged with killing George Floyd and three others accused of abetting the African American’s murder were to appear in court Monday, in a case that has touched off a global reckoning over racial inequality.

Derek Chauvin, the 44-year-old white officer who was filmed pressing his knee into Floyd’s neck, was scheduled to be the first to appear at 1715 GMT by videolink from the high security prison where he is being held.

Chauvin, whose bail has been set at a million dollars, is charged with second degree murder for the death of 46-year-old Floyd, who was unarmed and handcuffed as Chauvin kneeled on his neck for almost nine minutes.

Alexander Kueng, Thomas Lane and Tou Thao are charged with aiding and abetting second-degree murder, and will appear in person in court.

The first two were released on a bail of $750,000.

The four former police officers, who face up to 40 years behind bars, will have the chance to plead guilty or not guilty at the hearing.

The court could also rule on whether they will stand trial separately or together.

The four men detained Floyd on May 25 in Minneapolis on suspicion of trying to

Mark my words podcast

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PODCAST: Mark Beyer and Sean Cowan discuss phase four COVID restrictions, aviation and tourism, Deloitte, retail property landlords, housing recovery, planning reform, some positive market news, Canva, and our special report on indigenous business.…

Govt order asks OMCs to stock up LPG supply in Kashmir, sparks speculations

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A government order asking to stock up two months’ supply of LPG cylinders in Valley has sparked speculations, especially in the wake of the LAC face-off, with NC leader questioning the need for such a move.


According to the June 27 order issued by the director of the Food, Civil Supplies and Consumer Affairs Department in Kashmir, an adviser to Jammu and Lt Governor G C Murmu has passed directions in a meeting on June 23 “to ensure sufficient stocks of LPG in the valley as the supply of the same gets affected due to closure of the National Highway on account of frequent landslides”.



Describing the order as a “matter most urgent”, the director asked the to make adequate stocks of LPG which can last up to two months both at bottling plants as well as godowns.


Though similar exercises are common in winter months in view of frequent disruptions on the Srinagar-Jammu National Highway, such huge stocking does not usually take place in summers.


Former Jammu and chief minister also cited another

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