Europe, Japan to insist on ‘sea turtle-friendly’ tag

Even as export of shrimps to the US has registered a steep decline in the aftermath of Washington’s decision to ban import of shrimps harvested with technology that may affect turtles, buyers from Europe and Japan — key markets for this product — are veering towards similar action. Importers from Europe and Japan are stipulating that Indian exporters should produce a certificate to show that their shipments are ‘sea turtle-friendly’ and the Earth Island Institute, which played an instrumental role in the US ban, is working at extension of the embargo. Alarmed by the drastic nature of the situation, the Government is preparing an action plan to contain the damage.

Primary dealers to set up self-regulatory body

To ensure the orderly growth of the Government securities market, the six primary dealers (PDs) operating in the market have decided to set up a self-regulatory organisation (SRO). The SRO, to be called the Indian Primary Dealers’ Association (IPDA), is to be headquartered in Bombay. The body is expected to be operational by the beginning of October this year, according to a top official working with a PD.

MSE to guarantee members’ transactions

The Madras Stock Exchange is set to guarantee transactions conducted between members soon after the trading goes on-line next month and the setting up of the clearing corporation. Sources say a couple of insurance companies have already approached the exchange in this regard, and, discussions with them are in an advanced stage. A deal is likely to be worked out once the package proposed by the insurance companies are accepted.

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