Australia’s share market had its best week since April, albeit with a flat today, after investors smiled at the federal budget and regained hope for US economic stimulus.…
Several trade bodies have urged
the Centre to set up a regulator to deal with the rising freight charges, amid the problem of container shortages that exporters are facing.
Engineering Export Promotion Council of India (EEPC) claimed that shipping lines are demanding high freight charges as inward traffic from different countries, particularly from China, has declined for which the exporters are required to pay a higher amount for outbound consignments.
“Imports from China have fallen and the liners have increased freight rates. No shipping company likes to sail empty after delivery of export consignments,” Sanjay Budhia, chairman of CII national committee on exports and imports, told PTI.
He said all the exporters across the country are facing this problem.
“This is leading to a situation where cargo is lying at ports. We urged the government to set up a shipping regulator to control the freight rates,” Budhia said, adding that exports have started to pick up despite the coronavirus crisis.
After contracting for six months in a row, the country’s exports grew by 5.27 per cent to USD 27.4 billion in September.
: Home-grown short video-sharing
platform – Chingari – on Saturday announced collaboration with NH Studioz, a film production company.
With this collaboration, Chingari enters the forte of movies and announces the launch of its own movies.
The movies would be launched on October 11 as a special tribute to Hindi film actor Amitabh Bachchan by screening his blockbuster movies.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
A Colombian judge on Saturday ordered an end to house arrest for former president Alvaro Uribe, who is under investigation for alleged witness tampering and fraud.
The conservative Uribe, 68, is considered the most influential politician in Colombia of this century, and is currently its most popular one and the political mentor of the current president, Ivan Duque.
Uribe served from 2002 to 2010 and was known for his tough approach to fighting leftist FARC guerrillas and later for opposing an historic 2016 peace accord with them that ended a half century of war.
The Supreme Court had placed him under house arrest in August in a case involving a leftist senator, Ivan Cepeda, who Uribe said hatched a plot to falsely link him to right wing paramilitary groups — one of the players that fought in Colombia’s long, complex war. Uribe was accused of manipulating a witness against Cepeda.
On Saturday a lower court judge accepted a defense motion for Uribe to be released from house arrest while the probe continues.