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 Indian Economy
Delhi Economic Survey: City’s per capita income almost three times of national average
The Delhi government today pegged the size of the Gross State Domestic Product (GSDP) at Rs 6.86 lakh crore for 2017-18, which is at a growth rate of 11.22 per cent over the last fiscal. Ahead of the Delhi budget, the latest economic survey of the national capital was tabled in the Assembly, which h...

Higher trade deficit pushes up Q3 CAD to 2% of GDP at $13.5 billion
The current account deficit rose to 2 per cent of the GDP at $13.5 billion in the December quarter, up from $8 billion or 1.4 per cent in the year-ago period, on the back of higher trade deficit, shows the Reserve Bank data. The CAD, which shows the difference between foreign exchange earned and sp...

India's external vulnerability indicators remain stretched: UBS
India remains vulnerable in its external position, but this does not pose any concern about the country's macro stability and is quite manageable, says a report by UBS. According to the global financial services major, although improving, India's external vulnerability indicators remain "stretched"....

India's CAD likely at 1.7 pc this fiscal
India's current account deficit is expected to be around 1.7 per cent of GDP in this financial year, largely owing to higher oil prices, says a report. With the December quarter current account deficit worsening to 2 per cent of GDP, Bank of America Merrill Lynch (BofAML) raised its current account ...

 Global Economy
Signs that the economy's potential has strengthened might mean rates rising higher than earlier thought
Jerome Powell heads for his first interest rate increase as Federal Reserve chairman this week with an unanswered question looming above others: could his optimism about the U.S. economy lead to more hikes than markets have prepared for? Powell's public comments and Reuters conversations with his Fe...

UK inflation in focus as trade concerns spread to China
That additional catalyst came yesterday as a result of a draft proposal by the European Commission to tax revenues on US tech giants in order to address the problem of the low levels of tax on profits these companies pay. With a storm already raging around Facebook and its relationship with Cambridg...

EU firms scale back presence in UK as Brexit nears
One in seven businesses from European Union countries with a presence in Britain have moved parts of their business out of the country because of concerns about disruption after Brexit, according to a survey published on Tuesday. Fourteen percent of EU firms with assets in Britain, such as offices, ...

Singapore's CPI seen up 0.5 percent year-on-year in February
Singapore’s annual headline and core inflation rates likely accelerated in February from the previous month, a Reuters poll showed on Tuesday. The consumer price index probably rose 0.5 percent in February, the poll of 10 economists showed, up from January when the city-state reported no change in c...

A stronger yen is bad news for Japan's inflation target: Credit Suisse
Japan's central bank wants the country's inflation rate to hit 2 percent by fiscal year 2019, but it is less likely to happen if the yen continues to strengthen, said Credit Suisse's chief economist for Japan. Hiro Shirakawa, speaking to CNBC at the bank's Asian Investment Conference in Hong Kong, s...

 Market & Finance
India’s bond market to remain under pressure after temporary relief: DBS
After riding on a wave of unprecedented liquidity through the first half of the year 2017, India’s bond market has been grappling fiscal slippages and faster-than-expected rise in UST yields, which Singapore-based DBS Bank said will continue to remain challenging. However, some value might emerge af...

Rupee falls to 4-month low of 65.18 on high dollar demand
Rupee fell to a four-month low on Monday having ended the session at 65.18 against the dollar with the majority of the fall seen during the last half hour of the session. The currency closed 24 paise down and ended the session very close to the intraday low of 65.1825. Most of the fall was recorded ...

Government bonds, call rates decline
Government bonds (G-Secs) declined on selling pressure from banks and corporates and the overnight call money rates eased due to lack of demand from borrowing banks amid comfortable liquidity in the banking sytem. The 7.17 per cent 10-year benchmark bond maturing in 2028 slipped to Rs 97.00 from Rs ...

MSME credit to grow at 12-14% over next 5 years: Icra
The credit to micro, small and medium enterprises (MSMEs) is expected to grow at 12-14 per cent over the next five years, helped by higher lending by non banking finance companies (NBFC) to the segment, says a report. As on March 2017, credit to MSMEs stood at Rs 16 trillion. NBFC and housing financ...

 Commercial Laws
Alibaba invests additional $2 billion in Southeast Asian e-commerce firm Lazada
Chinese tech giant Alibaba said Monday it would invest an additional $2 billion in Southeast Asian online retailer Lazada as part of its continued push into the region. Last year, Alibaba increased its stake in the Singapore-based firm from 51 percent to 83 percent with an additional billion-dollar ...

 Direct Tax
India, Hong Kong sign double taxation avoidance pact
India and Hong Kong on Monday entered into a double taxation avoidance agreement, aiming to facilitate investment flow between both countries and prevent tax evasion. “The agreement will stimulate flow of investment, technology and personnel from India to HKSAR (Hong Kong Special Administrative Regi...

 Indirect Tax
CBEC to verify GST transitional credit claims of 50,000 taxpayers
In order to check "frivolous and fraudulent" tax credit claims by businesses, the CBEC has decided to verify demands of top 50,000 tax payers claiming maximum GST transitional credit, starting with those where the quantum exceeds Rs 25 lakh. The verification of "unreasonable" transitional credit cl...

 Trade Notice
Trade Facilitation Notice No. 01/2017
IMC  Chamber of  Commerce and  Industry Events
 Other Events
Kuwait Investment Forum 2018 (KIF2018)
20 Mar 2018

One Day Conference on “International Tax - MLI / BEPS UPDATE FROM INDIAN PERSPECTIVE”
23 Mar 2018

 Live Market
Source - Yahoo India Finance @ 07:03
FTSE 100  
GOLD (10 GRMS)  
Notification No.RBI/2017-18/139
(Delhi) 19-03-2018
Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits...
Notification No.RBI/2017-18/140
(Delhi) 19-03-2018
Agency commission payable to banks for operating Special Deposit Scheme (SDS)...
Notification No.RBI/2017-18/141
(Delhi) 19-03-2018
Submission of returns by the Government-owned Non-Banking Financial Companies...
Notification No. 14/2018
(Delhi) 19-03-2018
[Notification No. 14/2018/F. No. 370142/32/2017-TPL] ...
Notification No.19/2018 Customs (N.T.)
(Delhi) 19-03-2018
Exchange Rates Notification No.19/2018-Custom(NT) dated 15.3.2018...
Notification No.20/2018 Customs (N.T.)
(Delhi) 19-03-2018
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg...
Notification No.07/2018-Customs (ADD)
(Delhi) 19-03-2018
seeks to impose definitive anti-dumping duty on the imports of " Sulphonated Naphthalene Formaldehyde" originating in or exported from China PR....
Notification No.08/2018-Customs (ADD)
(Delhi) 19-03-2018
Seeks to impose anti-dumping duty on imports of 'Ofloxacin' originating in or exported from China PR...
Circular No.06/2018-Customs
(Delhi) 19-03-2018
Refund of IGST on Export-EGM Error related cases....
 Indian Corporate
Amazon opens six more fulfilment centres for large appliances is expanding its fulfilment centres for large appliances and furniture to six more cities — Coimbatore, Pune, Lucknow, Gurugram, Mumbai and Bhopal — taking the number of fulfilment centres to 15 in this niche space. The firm has a network of 62 fulfilment centres, including 32 for core ret...

Walmart may face legal hurdles in Flipkart deal
US retail giant Walmart may face various legal hurdles before it can hope to pick up a stake in Indian e-commerce major Flipkart, while the Indian government might seek clarity on whether it will use this route to open offline stores. While Walmart can pick up as much as 100 per cent in Flipkart as ...

Paytm transactions reportedly grew four-fold to $20 billion in February
Digital payments major Paytm’s annualised gross transaction value (GTV) crossed $20 billion (about Rs 1.3 lakh crore) in February, a fourfold increase from March 2017 as it captured a bigger share of consumer spending across areas such as travel and movie ticketing. Paytm is also on track to registe...

MG Motor India to invest Rs 5,000 crore in two phases
MG Motor India, a wholly-owned arm of Chinese auto giant SAIC Motor, on Monday said it will invest close to Rs 5,000 crore in the next five years and ramp up its production capacity over 2,00,000 units per year in a phased manner. “In the first phase, we are investing Rs 2,000 crore in our Halol pla...

Manufacturing companies' sales improve in Q3, profit subdued: RBI
The country's manufacturing sector witnessed an improvement in sales growth in the third quarter this fiscal on annual basis, though net profit has remained subdued due to lack of support from other income, says a RBI data on performance of private corporate sector. The RBI data released on Monday s...

Schneider Electric pads up to enter electric charging business in India
French multinational company Schneider Electric is looking at expanding its footprint in micro grid and power solutions for electric transport in India, the largest market for decentralised power. The company has sold 3 million e-charging systems globally. “We are looking at the way we can connect p...

Binani gets ‘comfort’ letter from UltraTech
UltraTech Cement on Monday said its board had approved a comfort letter for an amount of Rs 7,266 crore to be given to promoters of Binani Cement signifying its intent to buy a 98.47% stake in the company. The purchase can go through either if insolvency proceedings, under the purview of the IBC (In...

 Global Corporate
Google makes push to turn product searches into cash
Alphabet Inc’s Google routinely fields product queries from millions of shoppers. Now it wants to take a cut of their purchases, too. The U.S. technology company is teaming up with retailers including Target Corp, Walmart Inc, Home Depot Inc, Costco Wholesale Corp and Ulta Beauty Inc. Under a new pr...


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