Ram Vilas Paswan
Government's Ban on Onion Exports Extended Indefinitely
Citing the authority vested in it by the Foreign Trade (Development and Regulation) Act, 1992, along with relevant sections of the Foreign Trade Policy, 2023, the Central Government revised Notification No. 49 dated December 7, 2023, concerning the export policy of onions. The notification reaffirmed the continuation of the export ban on onions classified under HS Code 0703-10-19 beyond the previously stipulated deadline of March 31, 2024.
India's external position resilient despite pessimistic global trade outlook
The outlook for 2024 remains "highly uncertain and generally pessimistic", UNCTAD says in the Global Trade Update released on December 11, citing factors like ongoing geopolitical tensions, escalating debt, and widespread economic fragility.
US FTC to pay $100 mn in refunds to Vonage consumers who lost money
Vonage used dark patterns to make it difficult for consumers to cancel their service and often continued to illegally charge them even after they spoke to an agent directly and requested cancellation.
India’s trade deficit dips in Sep as imports decline
The country’s merchandise exports declined by 2.6 per cent to $34.47 billion compared to the same month last year, while the imports were valued at $53.84 billion in September.
India, Saudi Arabia agree to enhance bilateral trade
A joint statement issued during the state visit of Saudi Arabian Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud to India on September 11, said that while praising the growth achieved in trade between the two friendly countries, both sides stressed the importance of continuing joint work to enhance and diversify bilateral trade.
Expect sideways movement with focus on Smallcap and midcap space
BSESENSEX lost 58.15 points or 0.10 per cent to close at 61,054.29 points while NIFTY gained 4.00 points or 0.02 per cent to close at 18,069.00 points. The broader market saw BSE100, BSE200 and BSE500 gain 0.19 per cent, 0.30 per cent and 0.40 per cent respectively. BSEMIDCAP gained 1.41 per cent while.
US bank First Republic's shares crash more than 46%
As the growing banking crisis spread into a new week, the credit rating of the regional bank was downgraded deeper into junk status by S&P Global, the Guardian reported. The agency said that the bank, which caters to wealthy clients, probably faced "high liquidity stress with substantial outflows". US officials are studying how to temporarily expand the protection offered to banking customers by Federal Deposit Insurance Corp (FDIC) to include all deposits, going beyond the current $250,000 cap, Bloomberg reported.
Cement companies mull price hike of Rs 10-30/bag
Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said.
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