
(*)By R. Viswanathan - For those who think that Latin America is too far and cost of freight is too high and therefore the region should be less important for India’s trade, here is the eye opener from the 2016-17 (April-March) statistics of the Commerce Ministry of India.

Chancellor of the Exchequer Philip Hammond reportedly told the board of U.S. investment bank Goldman Sachs that he was pushing for a lengthy transition period after Britain leaves the European Union, a source familiar with the talks said. The source said Hammond made a presentation to the Goldman Sachs board on June 29 when CEO Lloyd Blankfein was in London for the annual board meeting.

Sir Vince Cable has become the new leader of the Liberal Democrats with a promise to offer voters the possibility of an “exit from Brexit” through a second referendum on EU membership. The former business secretary took up the role after nominations for the post closed without him facing any challengers, becoming, at 74, the oldest leader in the party’s history.

Spanish Minister for Foreign Affairs, Alfonso Dastis, will visit the Campo de Gibraltar in September to discuss the impact of Brexit on cross-border workers and the wider region. The forthcoming visit was announced late Thursday night following a meeting in Madrid between the minister and officials from the Campo.

The United States Supreme Court dealt a blow to President Donald Trump's travel ban this week, rejecting his bid to bar entry by some people with family members already in the country. The three-sentence order by the Justices — who last month let president Trump start restricting entry by people from six mostly Muslim countries — means the government must accept people with grandparents, cousins and other relatives in the U.S.

The first of eight new Type 26 frigates being built for the Royal Navy has been named HMS Glasgow. The name was revealed by Defense Secretary Sir Michael Fallon as he cut the first steel on the ship at BAE System's Govan shipyard. The last HMS Glasgow, a Type 42 Destroyer, was awarded the Falkland Islands 1982 battle honor. The new anti-submarine warfare frigates will be known as the City Class.

The Scottish and Welsh governments have begun a formal dispute with Westminster over the Tories’ £1 billion deal with the Democratic Unionist Party. The devolved administrations have invoked formal dispute resolution procedures over the coalition agreement of PM Theresa May's government, which includes £1 billion in new funding for Northern Ireland.

The Organization of American States (OAS) and the Government of Peru signed the agreement on preparations for the Eighth Summit of the Americas, which will bring together all heads of state and government of the Hemisphere in April 2018, in Lima.

Theresa May has issued a warning to her Cabinet ministers that none of them is “un-sackable”. The Prime Minister’s comment comes after she was forced to upbraid senior colleagues after an outbreak of vicious briefing against Chancellor Philip Hammond.

The second round of Brexit talks has ended with “fundamental” disagreements remaining between Britain and the European Union on citizens’ rights and a stand-off over the so-called “divorce bill”.