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15-December-2017
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 Indian Economy
 
Greenshoots for economic recovery to start cropping up in 2018, says Credit Suisse
While the growth prospects for the economy are likely to remain weaker than currently expected, visibility on various macroeconomic parameters should improve during 2018, expects Credit Suisse. Neelkanth Mishra, India equity strategist at Credit Suisse, in an interview with ET Now said, “Structural ...

Economic growth in India: 2018 to be weaker than expected, says Credit Suisse
Credit Suisse said it believes that India’s macroeconomic parameters should improve during 2018. However, economic growth is likely to be weaker than currently expected. “Structural reforms have weakened visibility on most macroeconomic parameters. We have long considered India as being a ‘house un...

India growth to normalise in next four to six quarters, says Standard Chartered
Indian government has implemented bold reforms in recent years, including the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC). While these reforms have brought short-term economic pain, they have boosted India’s medium-term outlook, Standard Chartered said. In a research re...

Nov WPI inflation touches 8-month high on onion, veggie prices
Inflation based on wholesale prices accelerated to 8-month high of 3.93 per cent in November due to a sharp rise in onion prices and costlier seasonal vegetables, government data showed today.Calculated on Wholesale Price Index (WPI), the inflation was 3.59 per cent in October this year, and 1.82 pe...

 
 Global Economy
 
Bank of England holds rates after first hike in decade
The Bank of England kept its main interest rate unchanged at 0.50 percent on Thursday, a month after increasing borrowing costs for the first time in a decade to contain a rise inflation stoked by last year's Brexit vote. The decision was widely anticipated even though official figures this week sho...

US Fed ups rates, eyes three hikes in 2018
Federal Reserve officials followed through on an expected interest-rate increase and raised their forecast for economic growth in 2018, even as they stuck with a projection for three hikes in the coming year. “This change highlights that the committee expects the labour market to remain strong, with...

Saudi king approves $19 billion of economic stimulus steps
Saudi Arabia's King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year, state news agency SPA reported on Thursday. The measures include residential loans worth 21.3 billion riyals, a 10 billion riyal fund to...

Japan's ruling bloc approves big corporate tax cut to encourage wage hikes
Japan's ruling bloc approved a plan on Thursday to slash the corporate tax rate to around 20 per cent from 30 per cent - but only for companies that raise wages aggressively and boost domestic capital spending. The carrot-and-stick approach is Prime Minister Shinzo Abe's most aggressive step yet to ...

ECB keeps policy, guidance unchanged
The European Central Bank reaffirmed its ultra-easy policy stance on Thursday, promising to keep rates steady until after the end of bond buys and maintaining a pledge to increase the purchases, if necessary. The ECB kept rates at record lows, confirmed that monthly bond purchases would be reduced t...

 
 Market & Finance
 
Bitcoin Points Way to ‘Massive Change’ for Commodity Businesses
Blockchain is upending the world’s financial markets with the rise of bitcoin, and now the digital-ledger system is poised to do the same next year for raw materials like food and energy.Companies including BP Plc, ABN Amro Group NV and Mercuria Energy Group Ltd. said last month they will adapt bloc...

IPOs so high but fresh capital so low
We simply won’t stop gushing about how fantastic 2017 has been as far as initial public offerings (IPOs) are concerned. Take a look at the chart alongside. Money raised through IPOs till November this year is the highest in at least the last 10 years. This, of course, reflects the general buoyant m...

Singapore to start futures trading in Indian stocks
In what could be a major blow to the domestic derivatives market, the Singapore Stock Exchange (SGX) will soon launch trading in Indian single-stock futures on its platform. The Singapore bourse currently offers trading in Nifty index contracts, which are very popular among overseas investors.The la...

Jan-Nov PE investment deal tally at $19 bn
Private equity investments saw a significant uptrend in November with deals worth $3 billion, taking the year-to-date (YTD) deal tally to $19.42 billion, says a report.According to assurance, tax and advisory firm Grant Thornton, there were 63 private equity deals worth $3.019 billion in November th...

 
 Commercial Laws
 
FRDI contemplating increase in deposit insurance cover
Amid concerns being raised on bank deposits under the draft FRDI Bill, an SBI research report today said the proposed law is contemplating an increase in deposit insurance coverage from the current Rs 1 lakh. The proposed 'bail-in' clause in the draft Financial Resolution and Deposit Insurance (FRDI...

 
 
 Indirect Tax
 
May bring electricity, petroleum, realty under GST, target is to reduce tax slabs: Sushil Modi
The GST Council will consider bringing electricity, petroleum products and some other items under the ambit of GST in future, Bihar Finance Minister Sushil Modi said. While speaking at the annual meet of industry chamber FICCI, Sushil Modi said, “Electricity, real estate, stamp duty and petroleum pr...

Government raises basic customs duty on mobile phones to encourage Make In India
India has raised basic customs duty on mobile phones to 15 per cent from 10 per cent, imposed in July as it looks to encourage Make In India. Duty has also been raised on coloured television sets and microwave ovens to 20 per cent. "This to encourage industry to make in India....Those already manufa...

 
 
 
 
 
 
 
 Trade Notice
Trade Facilitation Notice No. 01/2017
 
IMC  Chamber of  Commerce and  Industry Events
 
 Other Events
 
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 Notifications
 
RBI
Notification No.RBI/2017-18/108
(Delhi) 15-12-2017
Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review...
Notification No.RBI/2017-18/109
(Delhi) 15-12-2017
Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions...
INCOME TAX
Notification No. 97/2017
(Delhi) 15-12-2017
[Notification No. 97 /2017/ F. No. 300196/8/2016-ITA-I] ...
CUSTOMS
Notification No. 91 /2017 Customs
(Delhi) 15-12-2017
seeks to increase import tariff rate on specified electronic goods under First Schedule to the Customs Tariff Act by invoking section 8A (1) of the Customs Tariff Act....
Notification No. 92 /2017 Customs
(Delhi) 15-12-2017
seeks to further amend notification No. 50/2017-Customs so as to prescribe effective rate of BCD on various goods....
Notification No.114/2017 Customs (N.T.)
(Delhi) 15-12-2017
Customs (Furnishing of Information) Rules, 2017...
Notification No.115/2017 Customs (N.T.)
(Delhi) 15-12-2017
Amendment to notification no 40/2012-Cus (N.T.) dt 02.05.2012...
Circular No.49/2017-Customs
(Delhi) 15-12-2017
Refund/Claim of Countervailing duty as Duty Drawback....
 
 
 Indian Corporate
 
Cairn rejigs leadership team to drive $1-bn investment plan
Cairn India on Thursday announced the strengthening of its leadership team to realise the company's vision to contribute 50% of country's crude oil and gas production and channelise investments of over $1 billion."Cairn is at an inflection point in its journey of growth with 5 fast-track projects an...

Tata, GE join hands to manufacture jet engine components
Industrial conglomerates GE and the Tata Group have entered into a pact to manufacture "CFM International LEAP" engine components in India, for the global supply chain, a company statement said here on Thursday. According to the statement, the two companies also evinced their intention to jointly p...

Essar Shipping to scale up third-party cargo
The Ruia-owned Essar Shipping is planning to increase volumes via third-party cargo, even as it services debt in a not so friendly freight market. “Current tanker freight levels are not as good as two years ago. But, by 2019, we expect freight rates to pick up in this segment as older tonnage is scr...

Natco Pharma raises Rs 915 cr via QIP
Natco Pharma has raised Rs 915 crore through issue of securities to qualified institutional investors, according to a regulatory filing.During its meeting today, the company's committee of directors decided to allocate 1 crore shares at issue price of Rs 915 apiece, Natco Pharma said.The shares were...

Flipkart’s wholesale unit sees?revenue growth slow
Flipkart India Pvt. Ltd, the wholesale unit of India’s largest online retailer, posted slower revenue growth in the year ended March, regulatory documents show. Flipkart India’s revenue rose 18% to Rs15,264 crore ($2.37 billion) for the year ended 31 March from Rs12,818 crore in the previous year, a...

 
 Global Corporate
 
Good times gone: Slower business awaits Chinese steel mills in 2018
China's steel demand will slow in 2018 as the world's second-largest economy reins in stimulus and tightens credit, ending a two-year bonanza for the world's biggest producers, analysts say. Along with a recovery in Chinese steel supply after this winter's production curbs are lifted, that could spe...

 

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