Tag Archives: Business & Trade Questions for Students

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. This sub-regional organization came into being on 6 June 1997 through the Bangkok Declaration. It constitutes seven Member States: five deriving from South …

In 1907, car salesman John Hertz looked at his surplus of traded-in cars and decided to start a taxi business. Since taxis needed to stand out, the colour yellow was chosen. That was the result of a survey by the University of Chicago which concluded yellow was the easiest colour to spot. Hertz’s Chicago Yellow Cab Company was the first …

A major economic evil related to financial sector is the practice of money laundering. Money laundering involves keeping financial assets from illegal activity in a disguised manner. This money is kept without detection of the illegal activity for future use. Through money laundering, the launderer transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source. …

The US has withdrawn the Generalized System of Preferences (GSP) benefits provided to India and few other developing countries. GSP withdrawal will be enforced from 5th of June 2019. GSP is an arrangement that allows concessional or zero tariff imports from developing couturiers into the US. Withdrawal of the GSP benefit is expected to adversely affect exports from India. What …