Turkey Current Affairs - 2020

Turkey discovers Natural Gas reserves in Black Sea

On August 21, 2020, the Turkish President Recep Tayyip Erdogan announced the discovery of large natural gas reserves in the Black Sea coast. According to the announcement made by the President, 320 billion cubic metres of natural gas has been discovered. Highlights Turkey is to start using the discovered natural gas by 2023. Though the Read More…

US to End Sanctions Waivers to India

Reports suggest that the US could terminate the sanctions waivers it granted to some importers of Iranian oil after it re-imposed sanctions on Iran last year. Ending of Sanction Waiver Reports indicate that the US has already communicated to seven countries viz. Japan, South Korea, Turkey, Italy, Greece, China and India- that they will no longer Read More…

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World Economic Outlook April 2019

The International Monetary Fund (IMF) in the World Economic Outlook 2019 April report has made the following forecasts: The global growth will be 3.3% in 2019, down from 3.6% in 2018 and 4% in 2017. The reduced growth rates are attributed to lower global expansion in the second half of 2018 caused by U.S.-China trade Read More…

Counterfeit, Pirated Goods and Global Trade

The assessment  by EU Intellectual Property Office (EUIPO) and the Organisation for Economic Co-operation and Development (OECD) carried out based on data from almost half a million customs seizures by international enforcement agencies highlights the following: Global sales of counterfeit and pirated goods have increased to USD 522 billion a year, amounting to a whopping 3.3 per Read More…

India, a Key Hub for Illicit Drug Trade: UNODC

The latest report released by the United Nations Office of Drugs and Crime (UNODC) has referred to India as a Key Hub for Illicit Drug Trade. Findings of the UNODC Report India is one of the major hubs of illicit drug trade ranging from age-old cannabis to newer prescription drugs like tramadol, and designer drugs like Read More…