Market and Business News

The US Federal Reserve has been aggressively raising interest rates to curb inflation. In response, other countries are adopting similar policies to protect their currencies. A one percent increase in interest rates in the US reduces GDP by 0.5 percent in developed countries and 0.8 percent in emerging economies three years later. In this context, if interest rates in the US increase by 3 percent after the Ukraine war, it could reduce the GDP of emerging economies by up to 2.4 percent. Rising interest rates in the US are doing more than derailing global growth. This poses a threat to macroeconomic stability in developing countries. Because these economies are heavily burdened with foreign debt. The ratio of exports to external debt in developing economies averaged 127 percent, an 18 percent increase from the turbulent period of 2013. This was the period when central banks were struggling to buy bonds. This is especially important for low-income and lower-middle-income countries. Ea

The central government should review its stance on disinvestment. Over the years it was used as a measure to reduce the fiscal deficit. However, the government often failed to achieve the targets set out in the budget. Even during the current financial year, the government has so far not been able to collect even half of the target amount. However, the government is confident that it will be able to meet its fiscal deficit target of 6.4 percent of GDP as it is well positioned on the tax revenue front. Expected marginal growth due to higher inflation will help control the deficit due to higher spending on the other hand. This is a good time to focus on the disinvestment process as budget pressures are relatively low this year. Reliance on disinvestment has to be removed to limit the fiscal deficit. The government should use the disinvestment program to achieve broader goals for example there is no reason for the government to retain its investment in so many companies and that too wh

Mumbai: The central government has decided to extend the limit on the export of sugar from the country by one more year. Controls are placed on the export of sugar with the aim of maintaining domestic availability of sugar and keeping prices under control. A total of 1.12 crore tonnes of sugar was allowed to be exported for the sugar season which ended in September. As per the earlier decision, this restriction was till 31st October which has now been extended till 31st October 2023. However, these restrictions will not apply to the export of sugar to Europe and America under the specific scheme, according to a statement issued by the Directorate General of Foreign Trade. India is the largest producer of sugar in the world and the second largest exporter. For the sugar season of 2021-22, the government had permitted the export of a total of 1.12 crore tonnes of sugar. In May this year, the government had announced the export quota for sugar. Under which the export of one crore tonn

New delhi date. 31 October 2022, Monday After the purchase of Twitter by Elon Musk, the users of this social media platform can see many changes in the coming days. Under this, Twitter will also change the verification process of its users. Elon Musk himself gave this information in a tweet on Sunday. Musk has not yet given detailed information about the verification process but wrote on Twitter that the entire verification process is still being improved. Twitter is now considering charging a fee for Blue Tick. The platformer made the claim citing two people familiar with the matter. Blue Tick confirms the identity of any person's real account. According to the report, if Twitter goes ahead with the plan to charge for Blue Tick, users will have to subscribe to it at $4.99 per month (around Rs 410) per month. If they don't, their blue tick will be removed. It is being told that Tesla CEO Musk has not yet taken a final decision in this matter. It is also possible that the

- Antenna : Vivek Mehta The Gujarat government announced the new MSME policy on October 5. However, the biggest issue is the withdrawal of capital subsidy for those who invest more than 1 crore and up to 50 crore. As of today, Rs. Even a small industry cannot be set up in 1 crore. In this situation Rs. Announced to give benefits to industries up to 1 crore, so that benefit will only reach the cottage industries.' Employment Link Incentive Scheme has been provided in the new industrial policy. It will also create a new manufacturing sector in Gujarat. The major drawback of the Dhanvi scheme is that the capital subsidy will now be available only to the industries falling under the category of micro. Small category is excluded from subsidy. In fact, the number of industries falling under the category of small in the country is also very large which will not get the benefit of subsidy from now on.' Small units will not get much benefit from the new MSME policy. On the other hand

Companies are increasingly hiring forensic and employment verification firms to detect moonlighters and review their compliance. Companies also aim to control regulations because the problem is out of bounds. Although moonlighting has affected almost all industries, IT services, media and consulting have been the most affected. During the Covid-19 pandemic, people chose to work as freelancers or, in some cases, for competitors of their current employers. This, along with the work from home policy, has increased the attrition rate in the industry. In their financial results for the third quarter, all of India's top four IT majors, HCL, Wipro, Infosys and TCS, reported an attrition rate of over 20 percent. Sources in the forensic practice said, "We are getting more calls from concerned clients and orders from pre-screening to investigation." We have signed at least 15 new large clients, including top-tier IT-related companies. To track moonlighters, forensic experts ar

- Commodity Current : Jayavadan Gandhi The new year of Vikram Samvat 2079 is full of many challenges for the commodity sector. There has been a significant increase in business after coming out of Corona in the last year, but after the Russia-Ukraine war, there was a boom in the supply of grains, edible oils and metals. Is going. While China is mostly engulfed in the corona epidemic, the import-export has also been affected. The increase in interest rates in America and European countries last year has also affected the global business of gold and silver as the rise in inflation and dollar strength. Globally, gold and silver have become cheaper on average, but as the rupee has depreciated in India, the volume of smuggling has increased as gold and silver become more expensive locally. At the time of Diwali, gold was around fifty thousand and silver was in the range of 56 to 57 thousand in the last few days. However, this time the jewelers business is in a long-term condition. Busine

- Confusion of economics: Dhawal Mehta - Sri Lankan economy crippled by lack of foreign exchange... The year 2023 is bad The events that are happening in the economic field of India and the world are not good only for India but also for the world's largest economic power, America. Recently, there has been a huge depreciation in the Indian rupee. In English, this is called depreciation of an Indian rupee. The price (value) of one dollar jumped the level of 82 rupees. On January 3, 2022, the price of one dollar was 74.26 rupees. Copenses says that the price of one dollar increased from 74.26 rupees to around 82 rupees, so we should be happy. But the logic is upside down. When India imports one dollar worth of goods, on January 3, 2022, it had to pay 74.26 rupees, but on September 26, 2022, it has to pay about 82 rupees for the same goods. side effects Indian manufacturing companies will also find it expensive to import their requirements. They will charge higher prices from us.

- Smile Index : Vanity - It is like trying to draw from Aadhaar to find a lucky citizen for a picture on it to strengthen the rupee It is said to describe a very clever or often an unintelligent person, that is a very big note, similarly there are many false coin-like people floating around us. Although many people have become persona mati institutions or brands, the persona mati has not actually become a note. Gandhibapu is an exception to this. He has become a person, an organization, a brand as well as a photograph on the note. The funny thing is that no one ever asked Gandhiji, who fought to rule the country according to his will, whether you want to be called Bapu or Father of the Nation or printed on banknotes. Had Gandhiji known that many fake notes were going to be issued in his name, he would have expressed his desire to remove his photos on the notes. It remains to ask Gandhiji's wish that many great personalities like Gandhiji have received many honors only after t

Mumbai: As a result of the Reserve Bank of India's intervention in the money market to prevent the rupee from falling against the dollar, the forex reserves of the country are continuously decreasing. In the week ended October 21, the country's forex reserves further decreased by $3.85 billion to reach $524.52 billion. The RBI is being forced to sell dollars to prevent the rupee from depreciating. It is seen from the Reserve Bank data that the reserves have decreased by 118 billion dollars from the all-time high level of 642.45 billion dollars in September last year. Forex reserves have declined in 11 of the last 12 weeks. The week of October 7 saw an increase in overall forex reserves as gold reserves rose. The rupee has depreciated by more than ten percent against the dollar in the current year, at one point falling below Rs 83 per dollar, hitting an all-time low.

Mumbai: A special meeting of the Reserve Bank of India's Monetary Policy Committee (MPC) has been convened on November 3, according to a list by the Reserve Bank. The meeting is believed to have been convened to discuss a report to be submitted to the government on inflation in the country remaining above the fixed ceiling for nine consecutive months. In its report, the RBI will have to state the reasons why it has failed to control inflation and what remedial measures it intends to take to curb the rise in prices. If the inflation target is not achieved for three consecutive quarters, as per the RBI Act, the Reserve Bank has to submit a detailed report to the government stating the reasons for not achieving the target. This is the first time since the formation of the MPC in 2016 that the Reserve Bank has made such a clarification. According to the responsibility assigned by the government, the Reserve Bank has to maintain the retail inflation above 2 percent and below 4 perc

- Lokabhimukha Guidance : H.S. Patel IAS (Retd.) - The Act also has provisions to prevent 'monopoly' being created by the developer In the previous article we have described what are the duties of the real estate promoter/developer, similarly the provisions regarding the rights and duties of the allottee of the house/apartment/plot are stated in clause-19 of chapter-4 and accordingly the allottee The project is entitled to get a Memorandum of Understanding (MOU - Agreement) signed by the promoter with complete details map, layout and information as prescribed by these Acts / Rules approved by the Regular Authority and provision of water, sanitation and other facilities as mentioned in the Sale Agreement. Entitled to schedule for phased completion. Likewise, the promoter shall be entitled to claim possession of the house/apartment as per the agreement and likewise the allottees' association shall be entitled to jointly claim the common facility. Further to protect the rig

- Chart Indication : Ashok Trivedi The BSE index (close 59959.85 on 28-10-22) is bullish from a low of 56147.23. Currently, the 12-day average is 59756.83, 48-day average is 58312.82, and 200-day average is 56898.18. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 60134 above 60400, 60676 possible. 59739 below 59489 is considered support. ACC (closing price Rs.2324.45 on 28-10-22) is in favor of correction from the bottom of 205.30. Currently 12 day average is 2286.58 and 48 day average is 2332.24 and 200 day average is 2236.05. Daily and weekly MACD are bearish. It shows neutral position on daily basis, oversold on weekly basis and neutral position on monthly basis. 2330 above and 2350 above 2386, 2427, 2458 possible. 2250 below 2292 is considered as support. Adani Port (closing price Rs.820.30 on 28-10-22) is bullish from a low of 771.65. Currently, the 12 day average is 809.81, the 48 day average is 826.16 and the 200 day

- Industrial Guidance : Dhiru Parekh We have a wealth of knowledge for the herbal sector in India. It is also in a position to compete in the global market very systematically. Herbal products can be developed as good quality substitutes against synthetic drugs, side-effect chemicals in the world. According to the rules and regulations of the World Health Organization, it is necessary to have the certification of WHO to go to the global market. Which covers food, pharma and cosmetic. Product standardization certificate, human health protection, R&D, technology, establishment are very necessary before going to global market. Our country has extra ordinary knowledge of herbal and herbal products. But that is not the fact. Almost every country in the world has a long history and knowledge of herbalism, its traditional societies emphatically claim. Among them are China, Japan and Africa. Traditional competition may also become possible when India wins a significant share for herba

- Google, which used its dominance in the Internet world to squeeze Indian IT companies, took it for granted by the Indian authorities. - In fact, giant corporate companies like India's Reliance should allocate money to create a search engine like Google. No concrete thoughts have been made in this direction yet - Competition Commission of India (CCI) has fined Google a total of Rs 2,274 crore in the last one month: Indian developers welcome the verdict Even though the Competition Commission of India (CCI) has not hit a big tiger by imposing a penalty of lakhs of rupees on Google, which earns billions of dollars, the internet giant's ears have become so loud that it has screamed. Google has already hinted that locking horns with the Indian authorities could be very difficult. Google, which used its dominance in the Internet world to squeeze the nose of Indian IT companies, was taken for granted by the Indian authorities. But India's authorities have turned a blind eye t

- Higher tax collection should also be assessed on the basis of how much revenue has increased in line with the expansion of the economy to a random size. The tax collection figures for the first half of the current financial year have been released recently. The data indicates that the collection has increased significantly. Direct taxes, which mainly include corporation tax and personal income tax, have increased by 24 percent, while goods and services tax (GST) has seen a 31 percent increase. Excise and Customs figures are only five months old and have declined by 17 percent and 14 percent respectively. However, the trends emerging from these figures are indicative of tax collection. From a general budget perspective and a fiscal deficit target of less than 6.4 percent of GDP, the tax collection figures are arguably better. Gross revenue collection for 2022-23 is projected to grow at a rate of less than two per cent, well above the target of 19 per cent growth recorded in the firs

As part of boosting services sector exports from the country, the Ministry of Commerce is undertaking a comprehensive overhaul of the Services Exports from India Scheme (SEIS). The Ministry of Commerce intends to provide support to the service sector affected by the pandemic, especially the export operations of education, hospitality, tourism and healthcare. The scheme is expected to be a part of the foreign trade policy which is currently extended for 6 months. The new scheme will exclude the Information Technology (IT) sector from any incentives. The IT sector accounts for the largest share of the country's total service sector exports and is not covered under the purview of SEIS. No incentives have been announced for service sector exports during the last two financial years. SEIS was part of the Foreign Trade Policy of 2015. Although the Foreign Trade Policy has been extended beyond the financial year 2019-20 but the Sadar scheme has not been notified. Under this scheme, the

- Boolean Bits : Dinesh Parekh - If the interest rate increase in the US is less than expected, the gold prices in the world market are likely to rise rapidly The Fed's monetary policy in the global market continued to increase the interest rate, slowing the rate of inflation, the dollar weakened, and the decrease in the return of Treasury bills increased the price of gold by 1 percent, and the price of gold started to hit around 1664 dollars per ounce from 1670 dollars per ounce, showing the gold trend. But at the end of the week it is 1647 dollars. The Fed will raise interest rates again in November by 0.75%. UBS analyst Gwalani Stronevo said the Fed may slow its pace of interest rate hikes with falling stock prices and a weaker dollar, benefitting gold - leading to a rally. At present two categories of novelties are added to the market. One section believes that the Fed will control inflation by raising interest rates and this will have an adverse effect on gold prices, wit

- New crop expected to increase by 12 percent: Experts believe that if production per hectare increases, the production in the country can be recorded. In the cotton market and the industry in the country, the equations have been seen to change rapidly recently. With the beginning of October, the new season of 2022-23 has started in the country. In the new season, the domestic production of wool is estimated to be more than the previous season. In the previous season, the market price saw record highs amid short supply and good demand in Rs. But now with the arrival of Shri Ganesh of the new season and the new crop being expected to be good, the market prices have been seen falling rapidly in a short period of time from the high record prices in the rupee market. According to the Cotton Association of India which has been representing the rupee market and the industry for ten decades In the new ru season, the ru crop is likely to be around 344 lakh bales. Sources said that the new ru

Mumbai: Central banks around the world have become increasingly worried about high inflation. The central banks of the countries of the world have been increasing the interest rates for some time now to control the high inflation in their respective countries. Another round of aggressive interest rate hikes has now begun. The entire world is worried about inflation today. The European Central Bank (ECB) on Thursday raised the interest rate by 75 basis points to one and a half percent. ECB's interest rate has reached the highest level since 2009. There is a strong possibility of an increase in the interest rate in the meeting of the American Federal Reserve next week. Inflation in America is running at a forty-year high. Due to high inflation, the American Federal Reserve has also undertaken a continuous hike exercise. The Bank of Canada also announced an interest rate hike of half a percentage point on Wednesday. At home, the Reserve Bank's Monetary Policy Committee (MPC) h

AHMEDABAD: During the last Diwali week, the main indices of the market registered a one percent improvement amid the volatile environment in the Indian stock markets amid the holiday mood. On the other hand, there was an increase of up to 31 percent in selected 30 small cap stocks. According to the informed circles of the market, on the day of Muhurta last Monday, after the last 14 years' biggest rise in the market, volatility was seen in the market due to various factors in the rest of the days. Various factors mainly include global reports including F&O expiry, company results and FII performance. Thus, at the end of last week's volatility, the Sensex recorded a jump of 653 points and remained strong at 59960 and Nifty 210 points higher at 17787. Among the sectoral indices, Bank, Auto, Oil-Gas indices rose. While a retreat was seen in the FMCG index. The BSE smallcap index gained a meager 0.4 percent and the midcap and largecap indices gained one percent each. In the

Mumbai: The bullion market was officially closed today due to Saturday in Mumbai jewelery market. However, the decline in gold and silver prices continued in the closed market. World market news, however, showed a lopsided big bounce. In the world market, gold prices ranged from 1,642 to 1,643 highs of 1,667 to 1,668 to 1,644 to 1,645 dollars at the end of the week. Behind gold, global silver prices were trading higher at 19.24 to 19.25 to 19.63 to 19.25 to 19.26 dollars an ounce. At home, however, in the currency market today, the price of rupee rose against the dollar and the price of dollar retreated. At home, in the Mumbai market today, the price of gold and silver was soft in the closed market today. In the Mumbai market today, the price of gold without GST was Rs.50,175 at 99.50 per 10 grams at Rs.50,300 while the price of 99.90 was at Rs.50,375 at Rs.50,502 while Mumbai silver prices were at Rs.57,414 at Rs.57,200 per kg without GST. . In Mumbai gold and silver prices includ

Mumbai: Prices of various domestic and imported edible oils remained on the decline in the Mumbai oilseeds market today. Saurashtra and world market news were showing retreat. Meanwhile, as investigations and raids by the government department of food safety and standards on edible oil traders in Mumbai and Maharashtra increase, the New Year is likely to begin with violent agitation and calls for a bandh, sources in the All India Edible Oil Traders Association said. A zoom meeting will be held on this issue on Sunday (today) and then a meeting of all Maharashtra traders will be called on Friday, November 5. Traders are planning a counter-agitation strategy and there is a possibility that a strike may be called. In the present market of Mumbai today, the price of 10 kg of single oil fell to Rs.1610. The price of cotton oil was Rs.1380. Soybean oil prices fell to Rs.1260 digum and refined to Rs.1330, imported palm oil prices fell to Rs.980 and crude palm oil CPO kandla prices to Rs.88

MUMBAI: The results of global giants are showing turmoil amid renewed global inflation concerns and turmoil in the corporate world and corporate results season amid continued uncertainty in global markets. After sharp interest rate hikes by the European Central Bank (ECB) and central banks including Australia on inflation concerns, the US Along with the meeting of the Federal Reserve in the next week, the Reserve Bank of India has also suddenly decided to hold the monetary policy meeting on November 3 and has again worried the market regarding the interest rate. However, considering the good position of India against the global situation and the importance being given to India's role in the world economy, foreign funds are seeing the chance of reduced valuations after selling in the stocks. As a result, the Sensex has managed to cross the intra-day level of 60000 in the last week. In the string of corporate results, the results of Maruti Suzuki, ICICI Bank among others have increa

- Japan has had 34 Prime Ministers in 75 years, but its economy amazes the world, India was ruled by one party for three decades of independence, but the growth rate remained the lowest. Political stability leads to certain developments. It is often argued that it gives a definite direction to the society for a long time and benefits every section of the society. However, there is no sure measure of whether this stability guarantees growth or not. Yes, there are evidences that even in the midst of stability, the growth rate of the economy has been poor and even in the midst of instability, the growth has been plummeting! The discussion is going on that Prime Minister Shi Sunak has become the third Prime Minister in the calendar year 2022 in Britain. This is the fourth Prime Minister since David Cameron lost the November 2016 referendum on whether Britain should leave the European Union. Political instability has gripped Britain. In this period, Theresa May, Boris Johnson, Liz Tuss a

With the active implementation of various government policies and companies in the ecosystem, the performance of the credit market in India has improved. Retail credit portfolio balances in June, 2022 showed a good recovery across all products, with year-on-year growth of up to 15 per cent in home loan balances, up to 13 per cent in auto loans, up to 61 per cent in consumer durables loans, up to 32 per cent in credit cards and up to 29 per cent in personal loan balances. has happened The Indian credit market indicates a high recovery with improvement in credit performance and positive creditor sentiment. Lending performance has steadily increased year-on-year with generally low levels of delinquency. It is time for lenders to identify and reach out to the most qualified consumers across India and provide them with easy and quick credit along with a positive experience. The share of the Indian youth generation in new credit products has steadily increased over the past two years. In J