India moots 3-pt plan to fully revive dispute settlement body
India emphasizes restoring the appellate body as the top priority in the WTO dispute settlement system reform. New Delhi proposes a three-point action plan, opposes the EU's MPIA proposal, and calls for formalizing ongoing informal discussions. Disputes can be settled through adjudication or a mutually agreed solution. Key Points
Economic TimesIndia, EU seek to resolve dispute at WTO bilaterally
The dispute Settlement Body (DSB) has called a special meeting on June 15 to decide on the joint request. If this is agreed to by DSB, it would facilitate the resolution of the dispute, the joint communication by India and EU to the body has said. Key Points
FinancialexpressIndia, EU ask WTO dispute settlement body not to adopt ruling on ICT import duties till September 19
India and the European Union (EU) have requested the WTO's dispute settlement body (DSB) not to adopt its April 17 ruling against India's import duties on certain information and technology products. A communication to the WTO calls for a special meeting of the DSB on June 15, with the two sides asking for the panel's ruling to be postponed until September 19 as talks continue between the two regions in a bid to resolve the matter. The ruling was made following a case brought by the EU, Japan and Taiwan, and found that India was in violation of WTO trading norms by imposing the import duties. Key Points
Economic TimesUS Supreme Court takes up Coinbase arbitration dispute
The U.S. Supreme Court on Friday agreed to hear a dispute over Coinbase's (COIN.O) effort to move a dispute with users of the cryptocurrency exchange out of courts and into private arbitration, which businesses often prefer over litigation. Key Points
ReutersMan, 45, immolates self inside SP office, critical; SSP orders probe
A man immolated himself inside the SP office in Shahjahanpur due to a dispute with a local villager. He suffered 40% burns. An investigation has been Key Points
Times Of India
India calls for initiating formal talks on WTO's dispute settlement body reforms
India has called for the start of formal negotiations by WTO members to reform the dispute settlement body of the World Trade Organisation (WTO). These negotiations are essential as informal deliberations are preventing several nations from participating in the talks. The formal talks aim to arrive at a consensus by the 13th ministerial conference of the WTO in Abu Dhabi in February 2023. Key Points
Economic TimesMan lures over estranged wife, slits her throat in Uttar Pradesh's Shahjahanpur
A man in Uttar Pradesh’s Shahjahanpur killed his wife by slitting her throat over a family dispute. The accused is still at large. Key Points
India TodayIndia, Taiwan get time to resolve ICT dispute
If the talks fail, Taiwan could adopt WTO panel filings and India could take the case to the Appellate Body of WTO, which hasn't been functional for nearly two years due to the US blocking the appointment of judges. India has appealed against the ruling in its dispute with Japan and the EU. The dispute was filed in 2019 when the three members had challenged the import duty of 7.5%-later increased to 15%-levied by India in 2017. India further raised the duty to 20%. The duties were to boost local manufacturing. Key Points
Economic TimesHope that countries will come to WTO meet with positive attitude like India: Piyush Goyal
India hopes for a positive outcome at the upcoming WTO meeting in Abu Dhabi, urging other countries to listen to the concerns of developing nations. Commerce Minister Piyush Goyal highlighted the WTO's role in setting trade rules but also acknowledged significant problems within the organization. The meeting will discuss various issues including agriculture, fisheries subsidies, and e-commerce trade duties. Goyal emphasized the need to conclude ongoing WTO issues like dispute resolution and reforms. Key Points
Economic TimesIndia in bilateral talks with Brazil to resolve sugar dispute at WTO
India is in negotiations with Brazil to resolve a sugar dispute at the World Trade Organisation (WTO) and the commerce ministry is coordinating with concerned departments for the same. In 2019, Brazil, Australia and Guatemala dragged India into the WTO's dispute settlement mechanism alleging that New Delhi's sugar subsidies to farmers are inconsistent with global trade rules. Key Points
Economic Times
India challenges WTO panel ruling on ICT import duties at appellate body
India appealed against WTO's ruling on import duties for information and tech products, contesting the decision following the EU-initiated dispute. The challenge highlights legal interpretations and seeks review by the non-functional appellate body due to member disputes. Despite bilateral talks, India's move signifies addressing the WTO's findings on its import duties. Key Points
Economic TimesVenezuela & Guyana leaders to meet over border row. All about oil-rich Essequibo region dispute
Venezuela’s Maduro govt has this month threatened to annex region controlled by Guyana, triggering fresh row. dispute dates back to 19th century when Guyana was a British colony. Key Points
ThePrintGangster Sharad Mohol shot dead by own gang members in Pune, 8 suspects caught
Gangster Sharad Mohol was shot dead by his own gang members over an alleged financial dispute in Pune. The police have arrested eight people in connection with the incident that took place on Friday afternoon. Key Points
India TodayCredit Suisse, Mozambique reach out-of-court 'tuna bond' settlement
Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus "tuna bond" scandal, the Swiss bank's new owner UBS (UBSG.S) said on Sunday, drawing a line under a damaging dispute it inherited. Key Points
ReutersChances to reach consensus on WTO dispute settlement body reforms 'low' in next meet: GTRI
WTO member countries are unlikely to reach a consensus on reforming the dispute settlement system at the upcoming ministerial conference (MC). The differences between developed and developing countries over the issue pose a challenge. Key Points
Economic Times
Krishna Janmabhoomi row: Allahabad HC allows appointment of advocate commissioner for survey in Mathura
The application was filed in the pending suit before the high court concerning Krishna Janmabhoomi-Shahi Idgah mosque dispute. The petition was filed by the deity (Bhagwan Sri Krishna Virajman) and seven others through advocates Hari Shankar Jain, Vishnu Shankar Jain, Prabhash Pandey and Devki Nandan, claiming that Lord Sri Krishna's birthplace lies beneath the mosque and that there are many signs which establish that the mosque was a Hindu temple. Key Points
Economic TimesJapan asks India to rescind plan to appeal ICT ruling at WTO
Japan has asked India to withdraw its appeal to the World Trade Organization's (WTO) ruling against New Delhi's tariff on technology goods. The WTO had found in favour of Japan, Taiwan and the European Union in April, stating that India had breached global trading rules. At a DSB meeting on Tuesday, the US supported Japans appeal, claiming that India's tariffs negatively affect foreign businesses and limit access to technology for Indian firms and consumers. The EU and Canada urged India to resolve this dispute via the MPIA alternative. Key Points
Economic TimesSpiceJet resolves Rs 413 cr dispute with Echelon Ireland Madison One
SpiceJet announced the resolution of its Rs 413 crore dispute with Echelon Ireland Madison One, resulting in savings of approximately Rs 398 crore. The agreement includes the acquisition of two airframes. Following the announcement, SpiceJet's shares surged around 4.62%. This comes after the airline recently settled disputes with Cross Ocean Partners and Celestial Aviation Key Points
Economic TimesGujarat man beaten to death after dispute over his daughter's Garba prize gift
A man in Gujarat's Porbandar was beaten to death by a group of people over a dispute regarding her daughter's prize gift, which she won at a Garba event. Seven people were arrested in connection with the incident. Key Points
India TodayIndia may defer ICT case appeal against EU in WTO
India is contemplating postponing its WTO appeal on the ruling that vindicates the EU against tariffs imposed on mobile phones, electronic components, and other ICT products amid heightened concerns that these levies violate global trading rules under the Information Technology Agreement. The international ruling has raised fears in the industry that these import levies might give rise to cheaper imports and hurt domestic production. This break will be a chance for the industry to bring back investors to India that will work hand in hand within the production-linked incentive programs. The appeal against Taiwan is also deferred for 90 days, scheduled in September. Key Points
Economic Times
Little evidence that China is seriously approaching its India talks with a sense of goodwill: US
“Our position on India's border dispute with China is long-standing. We support a resolution of that border dispute through a negotiated settlement and through direct conversations between the two countries,” Assistant Secretary of State for South and Central Asia Donald Lu told PTI in an interview. Key Points
FinancialexpressIn 2023 India Inc. learnt hard lessons on families, friends and partners
India Inc 2023: The year 2023 saw significant turmoil within several prominent Indian businesses, including Bharat Forge, Indigo, Raymond Group, and Religare Enterprises. These disputes among family members, friends, and stakeholders shed light on critical issues. It emphasized the necessity for clear succession plans, strategies to shield companies from relationship conflicts, and improved scrutiny of stakeholders. This upheaval serves as a crucial lesson for corporate India, urging the development of better approaches to confront future challenges in a maturing corporate landscape, especially as women in top roles assert their influence. Key Points
Economic TimesMan strangled over wage dispute in Jhansi district
Man strangled to death by two over wage dispute in rural SP. Accused arrested & booked under IPC section 302. Incident in village Panari, victim declared dead at Moth CHC. Key Points
Hindustan Times'US, not India, creating hurdles by blocking judges' appointment': Experts
The US blocks WTO appointments, hindering negotiations and voice of Least Developed Countries. India's Joint Statement Initiative on Services Domestic Regulations benefits developing countries. Key Points
Economic TimesAs a leader, India must ensure a successful meet: WTO DG Ngozi Okonjo-Iweala
India, Brazil and South Africa are the troika of the G20, the WTO DG said. “We hope they will work together to ensure MC13 is a success... the entire package… not one issue or the other… it is across the board,” she told ET. “Not just G20, they are also BRICS (members)… they should support the UAE to ensure the UAE is a successful host, like it was for COP28,” she said, referring to the climate summit held late last year in Dubai. Key Points
Economic Times
Man hacked to death by co-worker's brother in Kanpur market
Umashankar and Ramu engaged in an altercation, during which Ramu called his elder brother, Sonu. Sonu reached the spot with his three companions and attacked Umashankar with a knife. Key Points
India TodayRajasthan man runs tractor over brother many times over dispute, locals film it
A man was crushed under a tractor, allegedly driven by his brother, in Rajasthan's Bharatpur over a land dispute. The BJP slammed the Congress over the law-and-order situation in the poll-bound state and asked Priyanka Gandhi to visit Bharatpur. Key Points
India TodayMan kills uncle, grandmother over property dispute in U.P.’s Etawah
Man shoots uncle and hacks grandmother to death over property dispute in Uttar Pradesh. Accused unhappy with uncle leasing land to brick kiln owner. Key Points
Hindustan TimesIndia, US inform WTO of mutual resolution of all six disputes
India and the US have informed the World Trade Organization (WTO) on the mutual resolution all the six trade disputes, in line with the commitment they made last month. In five separate notifications to the WTO on Tuesday, they asked the multilateral trade watchdog to terminate these disputes. The US and India had initiated three disputes each. Key Points
Economic TimesIndia weighs options against EU law on retaliatory tariffs
Officials said the EU law violates global trade norms and can become another dispute at the organisation. While the EU has not invoked the law as yet, New Delhi is also examining if it can retaliate by imposing higher duties on products coming from the EU against the quota restrictions put in place by the bloc on steel imports from India in 2020. Key Points
Economic Times
India loses ICT levy dispute at WTO
A World Trade Organisation dispute panel has ruled against India's import duty on mobile phones and other electronics products. The panel agreed with a complaint lodged by the European Union, Japan and Taiwan that India had breached global trade rules with the tariff. India had been challenged over a 7.5% import duty on the products, which rose to 20% despite opposition from the trade organisation's members. Delhi is expected to appeal against the ruling, although WTO dispute panel decisions can be invalid if they are not heard by an appellate body, which does not currently have any judges due to US opposition. Key Points
Economic Times