Business Point Today

Any agreements by Egypt's government to purchase Indian wheat will not be affected by an export ban announced by New Delhi, Egypt's supply minister said on Sunday. "For India, we are talking with them on the basis of a government agreement. The ban exempts governments including the government of Egypt," minister Ali Moselhy said at a news conference. Egypt, the world's largest wheat importer, faces a challenge securing wheat after Russia's invasion of Ukraine further inflated high global prices and disrupted relatively cheap Black Sea supplies that Egypt had increasingly relied on. It approved the import of Indian wheat, only for India to ban wheat exports on Saturday as a scorching heatwave curtailed output and domestic prices hit a record high. However, India said it would still allow exports backed by letters of credit that were already issued, and sales to countries that request supplies "to meet their food security needs". Egypt's government...

  Authorities arrested former Honduran President Juan Orlando Hernández following a request from U.S. officials, The Associated Press reported.  Police arrested Hernández at his residence on Tuesday, with shackles placed on his wrists and ankles, and he escorted out while wearing a bulletproof vest.   Hernández then got into a police vehicle as a police helicopter waiting nearby took flight and escorted the caravan, according to the AP.  In a statement, Supreme Court of Justice spokesperson Melvin Duarte said the court has assigned a judge to handle Hernández’s case with the appointed judge signing an order for his arrest.  This comes as Hernández is expected to face charges of drug trafficking, using weapons for drug trafficking, and conspiracy to use weapons in drug trafficking in the case.  Honduran Security Minister Ramón Sabillón alleged that the former president had conspired “with cartels to traffic (drugs) and corrupt many public institutions, ...