Friday, December 3

Stock Broker

Commodity Broker, International, Political News, Stock Broker

India’s rice exports fall sharply as sanctions delay payments from Iran

By Administrator_India, Capital Sands Reluctance among Indian traders to ship premium basmati rice to Iran as U.S. sanctions hobble its ability to pay has contributed to a sharp drop in overall exports from the world’s biggest supplier of the grain, trade and government sources said. Rice shipments from India slipped by more than a quarter to 5.5 million tonnes between April and November 2019 — the first eight months of the fiscal year — from 7.5 million tonnes in the year-ago period, the sources said. In terms of value, exports dropped 19% to $3.8 billion from $4.7 billion. The grain is India’s biggest foreign exchange earning farm commodity, with shipments worth $7.75 billion in the 2018/19 fiscal year. Basmati rice exports to Iran, New Delhi’s top buyer of the aromatic g...
Commodity Broker, International, Political News, Stock Broker

Deutsche Bank puts prominent German politician on the board

By Administrator_India, Capital Sands Deutsche Bank on Friday appointed  former German government minister Sigmar Gabriel, regarded as a proponent of strong European and transatlantic ties, to its supervisory board. Deutsche Bank is trying to repair its relations with Berlin after the damaging impact of the global financial crisis that called into question the bank's health, creating pressure to merge and restructure, amid fines for money laundering and other scandals. Gabriel has served as foreign minister, economy minister and environment minister. The Social Democratic Party (SPD) politician replaces Juerg Zeltner, who has stepped down after regulators rejected his appointment because of a conflict of interest. Deutsche Bank's chairman Paul Achleitner proposed Ga...
Commodity Broker, International, Political News, Stock Broker

India likely to fund some $28 billion of 2020/21 expenditure via off-budget borrowings: sources

By Administrator_India, Capital Sands India is likely to fund roughly $28 billion of its expenditure outlay in its budget for fiscal 2020/21 via off-budget borrowings, three government sources said, as it seeks to revive a sagging economy while keeping its fiscal deficit in check. Prime Minister Narendra Modi’s government is under pressure to increase spending on rural welfare schemes and infrastructure to boost growth that has fallen for six straight quarters. Off-budget borrowings are a means by which the government keeps its fiscal deficit in check by making quasi-government entities borrow on its behalf, to partly fund its expenditure plan for the year. This would mark a roughly 13.8% increase in so-called off-budget borrowings from an estimated 1.75 trillion rupees ($2...
Commodity Broker, International, Political News, Stock Broker

India stocks higher at close of trade; Nifty 50 up 0.61%

By Administrator_India, Capital Sands India stocks were higher after the close on Thursday, as gains in the Capital Goods, Real Estate and Oil & Gas sectors led shares higher. At the close in NSE, the Nifty 50 gained 0.61%, while the BSE Sensex 30 index climbed 0.66%. The best performers of the session on the Nifty 50 were Yes Bank Ltd , which rose 6.63% or 2.55 points to trade at 41.00 at the close. Meanwhile, Indian Oil Corporation Ltd added 5.85% or 6.65 points to end at 120.30 and GAIL Ltd  was up 2.82% or 3.55 points to 129.45 in late trade. The worst performers of the session were Zee Entertainment Enterprises Ltd. , which fell 7.21% or 21.65 points to trade at 278.70 at the close. UPL Ltd decli...
Commodity Broker, International, Political News, Stock Broker

Exclusive: Malaysia to buy more sugar from India to help resolve palm oil spat – sources

By Administrator_India, Capital Sands Malaysia’s top sugar refiner said it will increase purchases of the commodity from India, which according to two sources is part of efforts to placate New Delhi amid an ongoing spat over palm oil. MSM Malaysia Holdings Berhad will buy 130,000 tonnes of raw sugar from India in the first quarter, the company told Reuters. The company bought around 88,000 tonnes of raw sugar from India in 2019. The company did not cite the palm oil dispute as a reason for the increase in purchases. India, the world’s largest edible oil buyer, this month halted Malaysian palm oil imports in a move seen as retaliation to Malaysian prime minister’s comments criticizing New Delhi over its policy on Kashmir.
Commodity Broker, International, Political News, Stock Broker

Budget 2020: FM Nirmala Sitharaman may propose 5% tax on income up to Rs 7 lakh

By  Administrator_India, Capital Sands With expectations of a significant income relief for the middle class rising, it appears Finance Minister Nirmala Sitharaman could meet them when she presents Union Budget 2020. Sources have told  that the 5 percent income tax slab may be relaxed from Rs 2.5 lakh-Rs 5 lakh currently to Rs 2.5 lakh to Rs 7 lakh. For income bracket from Rs 7 lakh to Rs 10 lakh, the tax proposed is 10  percent. For Rs 10 lakh to Rs 20 lakh bracket, 20 percent is proposed. For Rs 20 lakh to Rs 10 crore, the bracket may attract see 30 percent tax and for income of Rs 10 crore and above, the rate is likely to be 35 percent. If the above announcement comes through, it could result in large savings for the salaried. ...
Commodity Broker, International, Political News, Stock Broker

Budget 2020: All eyes on tax receipts as mop-up dips by Rs 1.91 trillion

By Administrator_India, Capital Sands With just days to go before the Union Budget 2020-21 is presented, all eyes are on tax receipts for the current fiscal year (April 2019-March 2020, or FY20), which would be revised in the Budget. The numbers become all the more important because actual tax collections fell short by Rs 1.91 trillion compared to what was projected in 2018-19. Besides, the Budget for FY20 did not give actual figures for 2018-19, but the revised numbers given in the interim Budget. The actual numbers missed the revised estimates figures by Rs 1.68 trillion in 2018-19. The growth projected in revenue collections was just 9.47 per cent for FY20 compared to the revised estimates of 2018-19. However, it meant a growth of 18.31 per cent compared to the actual numbers ...
Commodity Broker, International, Political News, Stock Broker

Euro zone companies cut loan applications for first time in six years: ECB

By Administrator_India, Capital Sands Credit applications by euro zone companies unexpectedly fell last quarter for the first time in six years, despite a further reduction in the European Central Bank's main interest rate, an ECB survey showed on Tuesday. The euro zone has been struggling with sluggish growth for two years as a global trade war and a slowdown in China hurt its exports, offsetting stronger domestic demand in some countries. This is now starting to show in companies' decisions to cut down on investment and credit - a trend that banks now expect to continue, the ECB said in its quarterly Bank Lending Survey. "Net demand for loans to enterprises declined in the fourth quarter of 2019 ... the first time this had been seen since the fourth quarter of 2013, where...