Sri Lanka shines at World Travel Market 2025: Showcasing island’s tourism excellence to world

In collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB), the High Commission of Sri Lanka in London has marked a remarkable level of participation by the nation’s tourism industry at World Travel Market (WTM) 2025, held from 4–6 November 2025 at the ExCel London. A delegation of 92 leading travel and tourism partners represented the island, highlighting its vibrant and rapidly growing tourism sector to an international audience. The Sri Lanka Pavilion provided a dynamic platform for B2B meetings, networking, and collaboration between global travel and hospitality professionals.

During his welcome remarks at the opening of the Sri Lanka Pavilion, High Commissioner Nimal Senadheera expressed his appreciation to all partners and participants, noting that their collective effort created a powerful platform to showcase the island as a premier global destination. He highlighted that over 1.8 million visitors had already been welcomed by Sri Lanka in 2025, with the United Kingdom remaining the second-largest source market, contributing more than 170,000 arrivals by October. The Pavilion was also graced by The Lord Hannett of Everton OBE, the United Kingdom’s Trade Envoy to Sri Lanka, who praised the strong partnership between the two nations and emphasised the importance of continued collaboration in trade, tourism, and culture. SLTPB Chairman Buddhika Hewawasam noted that Sri Lanka’s renewed focus on sustainable tourism, wellness, and wildlife reflected its commitment to responsible, high-quality growth and meaningful travel experiences.

Parallel to the Sri Lanka Pavilion, a press conference was held on 5 November at WTM, bringing together a significant gathering of UK travel and tourism media, journalists, and PR representatives. The event provided a high-profile platform to share the latest developments in the sector, including government priorities, enhanced air connectivity through Sri Lankan Airlines, and sustainable tourism initiatives. Speakers included High Commissioner Senadheera, SLTPB Chairman, SLTPB Director of Marketing Dushan Wickramasuriya, Regional Manager Europe and Americas at Sri Lankan Airlines Chinthaka Weerasinghe, and, BGTW Chair Chris Coe. Also present at the head table were SLAITO President Nalin Jayasundera and, THASL President M. Shanthikumar representing the country’s travel and hospitality sectors.

Visitors to the Sri Lanka Pavilion were treated to a vibrant celebration of the island’s culture and heritage, featuring traditional dance performances and the serving of renowned Ceylon Tea, offering guests an authentic taste of the island’s warmth and hospitality. The Pavilion at WTM 2025 once again reaffirmed the country’s position as a resilient, innovative, and welcoming destination, ready to inspire travellers and strengthen global tourism partnerships. Sri Lanka shines at World Travel Market 2025: Showcasing island’s tourism excellence to world | Daily FT

Read More........ → December 23, 2025

Bajaj Finance loses over Rs 19,000 crore in market valuation this week

IANS Photo

Mumbai, December 14 (IANS): Bajaj Finance emerged as the biggest loser among India’s most valued companies last week, as its market capitalisation fell sharply by Rs 19,289.7 crore amid a largely bearish trend in the stock market.

Overall, eight of the top-10 most valued domestic firms together saw their market valuation erode by Rs 79,129.21 crore during the week.

The weak performance came as the BSE benchmark index slipped by 444.71 points, or 0.51 per cent -- reflecting cautious investor sentiment in equities.

Bajaj Finance’s market capitalisation declined to Rs 6,33,106.69 crore, making it the worst-hit stock among the top companies.

ICICI Bank followed closely, with its valuation tumbling by Rs 18,516.31 crore to Rs 9,76,668.15 crore.

Bharti Airtel also faced heavy losses, as its market value dropped by Rs 13,884.63 crore to Rs 11,87,948.11 crore.

State Bank of India saw its valuation fall by Rs 7,846.02 crore, taking its market capitalisation to Rs 8,88,816.17 crore.

IT major Infosys lost Rs 7,145.95 crore from its valuation, which stood at Rs 6,64,220.58 crore at the end of the week.

Tata Consultancy Services saw its market capitalisation decline by Rs 6,783.92 crore to Rs 11,65,078.45 crore, while HDFC Bank’s valuation dipped by Rs 4,460.93 crore to Rs 15,38,558.71 crore.

Life Insurance Corporation of India was the least impacted among the losers, with its market value eroding by Rs 1,201.75 crore to Rs 5,48,820.05 crore.

In contrast, Reliance Industries and Larsen & Toubro were the only two gainers in the top-10 list. Reliance Industries added Rs 20,434.03 crore to its market capitalisation, which rose to Rs 21,05,652.74 crore.Larsen & Toubro’s valuation increased by Rs 4,910.82 crore to Rs 5,60,370.38 crore. Despite the mixed performance, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC remained among the most valued company in the country. Bajaj Finance loses over Rs 19,000 crore in market valuation this week | MorungExpress | morungexpress.com

Read More........ → December 13, 2025

India's tyre industry projected to see robust growth in current fiscal

New Delhi, (IANS): Driven by consistent investments in capacity expansion, improved manufacturing efficiency and a stronger focus on R&D capabilities, India's tyre industry is projected to see a robust growth in the current fiscal (FY26).

According to sector leaders, citing industry data, the domestic tyre industry is expected to achieve strong growth on the back of the strong domestic replacement demand despite muted OE (original equipment) offtakes.

The replacement demand will likely be supported by factors like favourable rural sentiments, festive demand, and expected rate cut effect on consumption, even as urban demand is soft, according to analysts.

The festive season, recent repo rate cuts, and favourable monsoon conditions are expected to boost consumer sentiment.

A recent Crisil Ratings report mentioned that India’s tyre sector will see steady revenue growth of 7-8 per cent during the current financial year, driven by replacement demand that accounts for half of annual sales.

Rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges, the report states.

Operating profitability is likely to remain steady at 13-13.5 per cent, supported by stable input costs and healthy capacity utilisation.

“This, along with strong accruals, lean balance sheets and calibrated capital spending, should help sustain the sector’s stable credit outlook,” according to the report.

The report was based on an analysis of India’s top six tyre makers, catering to all vehicle segments and accounting for 85 per cent of the sector’s approximately Rs one lakh crore revenue. Domestic demand remains the mainstay, propelling around 75 per cent of total volume, with exports making up the rest.According to Crisil Ratings senior director Anuj Sethi. volume growth is seen at 5-6 per cent this fiscal, mirroring last fiscal. The replacement segment, accounting for around 50 per cent of volume, is set to grow 6-7 per cent on the back of a large vehicle base, strong freight movement and rural recovery. India's tyre industry projected to see robust growth in current fiscal | MorungExpress | morungexpress.com

Read More........ → September 05, 2025

India likely to be Apple's 3rd largest market in next 2 to 3 years: Experts

New Delhi, May 3 (IANS) As Apple registered strong double-digit growth in India in the March quarter this year, experts on Friday said that the country will likely become the tech giant's third-largest market in the next two to three years.

According to Tarun Pathak, Research Director at Counterpoint Research, Apple will continue to grow faster than the market and might grow more than 20 per cent this year in the country.

"In India, revenues grew to record levels due to better product mix and channel expansion. We believe Apple will continue to grow faster than the market and might grow over 20 per cent in 2024," Pathak told IANS.

India is home to more than 850 million mobile phone users and has the potential to have over a billion smartphone users in the next five years.

According to experts, this gives a significant opportunity for Apple in terms of the huge potential market outside China and the US in the coming years as most of these users are upgrading to their second or third smartphones right now and being 'mobile first', consumers are spending and upgrading to better and more expensive smartphones.

Apple shipped approximately 10 million iPhones in India last year, accounting for 7 per cent of the market share, as per Counterpoint report.

Moreover, Prabhu Ram, Head, Industry Intelligence Group at market intelligence firm CMR, said that given the headwinds Apple faces in the European Union (EU) and China, India will be a key growth engine over the next decade.

Apple's continuing brand strength, combined with its ramped-up 'Make-in-India' production and strong online and offline retail presence, makes the brand accessible to more young Indian consumers, Ram said.

During the company’s earnings calls on Friday, Apple CEO Tim Cook said that India is a major focus for the company.

“We are very, very pleased about it. It was a new March quarter revenue record for us. As you know, as I've said before, I see it as an incredibly exciting market and it's a major focus for us,” the Apple CEO told analysts.

The tech giant is geared up to manufacture over 50 million iPhones in India annually, as it aims to shift some of the production out from China.. India likely to be Apple's 3rd largest market in next 2 to 3 years: Experts | MorungExpress | morungexpress.com:

Read More........ → May 27, 2024

European Council agrees stance on electricity market reform : Nuclear Policies

The Europa Building in Brussels (Image: European Council)

Following months of negotiations, the European Council has reached an agreement on a proposal to amend the EU's electricity market design, agreeing to include existing nuclear plants in the reform. The agreement could result in France dropping a scheme forcing state-controlled utility EDF to sell a portion of its nuclear energy production to competitors below market-level prices.

The European Council said the reform aims to "make electricity prices less dependent on volatile fossil fuel prices, shield consumers from price spikes, accelerate the deployment of renewable energies and improve consumer protection". The proposal is part of a wider reform of the EU's electricity market design which also includes a regulation focused on improving the EU's protection against market manipulation through better monitoring and transparency.

"The reform aims to steady long-term electricity markets by boosting the market for power purchase agreements (PPAs) generalising two-way contracts for difference (CfDs) and improving the liquidity of the forward market," the European Council said. "The Council agreed that member states would promote uptake of power purchase agreements by removing unjustified barriers and disproportionate or discriminatory procedures or charges. Measures may include among other things, state-backed guarantee schemes at market prices, private guarantees, or facilities pooling demand for PPAs."

The European Council - which is made up of representatives of the governments of EU member states - agreed that two-way CfDs would be the mandatory model used when public funding is involved in long-term contracts, with some exceptions. They would apply to investments in new power-generating facilities based on wind energy, solar energy, geothermal energy, hydropower without reservoir and nuclear energy.

The Council also agreed to remove the temporary nature of capacity mechanisms, support measures that member states can introduce to remunerate power plants in order to guarantee medium and long-term security of electricity supply.

The European Commission adopted the proposals on the reform of the EU's electricity market design on 14 March. However, a dispute between France and Germany over the role of nuclear power in European climate action has dominated negotiations for months.

Under the terms of the agreement, France will now be able to finance the extension of the operation of its existing fleet of reactors with two-way CFDs, in line with the Commission's initial proposal.

Currently, under the so-called Regulated Access to Incumbent Nuclear Electricity (Accès Régulé à l’Electricité Nucléaire Historique, ARENH) mechanism set up to foster competition, rival energy suppliers can buy electricity produced by EDF's nuclear power plants located in France that were commissioned before 8 December 2010. Under such contracts, between July 2011 and December 2025, suppliers can buy up to 100 TWh - or about 25% of EDF's annual nuclear output - at a fixed price of EUR42 (USD47) per MWh. EDF operates 57 reactors in France, with a total capacity of 62.3 GWe, which together provide about 75% of the country's electricity.

Under the agreement reached by the European Council, the ARENH mechanism - which has attributed to lost earnings for EDF - could be replaced by CfDs when it expires at the end of 2025.

The Council's agreement will serve now as a mandate for negotiations with the European Parliament on the final shape of the legislation. The outcome of the negotiations will have to be formally adopted by the Council and the Parliament.Researched and written by World Nuclear News. European Council agrees stance on electricity market reform : Nuclear Policies - World Nuclear News:

Read More........ → October 20, 2023

How loyalty programs encourage repeat customers

by Len Covello — CTO, Engage People, Research shows consumers are increasingly leaning on loyalty programs as the cost of everything from gas to groceries continues to rise. Here are four ways effective loyalty programs stand out from competitors and keep customers coming back time and again.

As competition in the QSR and fast casual space continues to heat up – and consumers look for ways to cut back on their daily spending – marketing teams need to take a fresh look at their loyalty program offerings for 2023.

New loyalty solutions allow restaurant chains to better target their communications, create personal interactions and ultimately foster greater engagement with the brand. While the quality of menu items will always be a leading driver of customer satisfaction, a positive experience before, during and after the visit can boost brand affinity and increase the chances of repeat business, something everyone wants.

Here are four ways effective loyalty programs can help your QSR or fast casual restaurant stand out from competitors and keep your customers coming back time and again.

Personalize the rewards

Personalization is the foundation of the most successful loyalty programs. QSRs that integrate personalized messaging and brand communications, along with customized rewards and perks, deliver a more engaging experience than their competitors.

McDonald's, for example, recently invited its followers across Facebook, Instagram and TikTok to sign up for an SMS marketing campaign that promised "a life-changing opportunity" through a personalized messaging approach. KBP Brands, a major KFC franchisee, began testing an SMS and mobile wallet program at more than 160 restaurants in five states in December with the goal of reaching customers instantly where they are: on their phones.

Providing a phone number, email or other personal information is a trade-off between the consumer and the brand. When the consumer believes he or she will receive value from membership in a rewards program, he or she will opt in and provide their information. Those details are useful for your marketing efforts and allow you to reach them in a personalized way. By properly tracking and securely maintaining customer data, you can tailor your program to meet your customers' shopping expectations, and offer perks that reward loyalty membership.

Offer rewards that are truly rewarding

Unique program benefits like special promotions, discounts and early access are among the most highly desired loyalty perks for customers. Canadian coffeehouse Tim Hortons offers its members a variety of perks in addition to rewards points, including exclusive offers, skip-the-line access, surprises on your birthday and more.

QSRs can offer their program members exclusive promotions, opportunities to try new menu items early, or even free items or free delivery. The list goes on. These perks help foster exclusivity and a deeper connection with your customers, both of which help win loyalty.

The most successful loyalty programs are centered around customer engagement, as an engaged customer is more actively involved in the program from the time they earn rewards to the time they redeem them. This means that customers who are offered rewards they actually want are much more likely to participate in special events and promotions.

Freedom of choice goes beyond the menu

QSRs are discovering that giving consumers as much choice as possible leads to greater retention and engagement, and that includes the payment process. Restaurant chains that offer a range of payment options at checkout increase the likelihood of conversion and encourage repeat business.

More than half of QSR customers have paid with digital wallets during a recent transaction, according to recent data, which should come as welcome news to restaurant owners. Digital wallets provide fast, contactless payment functionality for the customer, keep lines moving and serve as a tool for driving loyalty.

Utilizing stored payment methods, coupons, currencies or other alternative payment options help increase customer interaction and create a positive experience beyond a simple transaction. By making payment more convenient, you are removing friction and providing another opportunity to create a positive interaction with your brand.

Provide your customers with more purchasing power

In the current economic climate in which inflation rates continue to hover at levels we haven't seen in decades, QSRs should be thinking of ways to help customers unlock access to additional spending options.

Research shows consumers are increasingly leaning on loyalty programs as the cost of everything from gas to groceries continues to rise. A recent survey conducted by Dig Insights found that more than 60% of consumers surveyed are tapping into their rewards points to help manage rising costs. It makes sense: loyalty points are something consumers have readily available, making them an easy way to save some money.

Restaurants can harness technology within existing or newer loyalty programs to help customers easily redeem points, which can help mitigate ongoing price increases. The restaurant, in turn, can boost conversion rates and offset some of declining sales that come with prolonged periods of inflation.

As food prices continue to climb and more customers are rethinking how often they visit their favorite restaurants, QSR chains must think about the customer experience now more than ever.Loyalty programs will help restaurants offer a more personalized dining experience, which leads to better customer engagement, more conversion opportunities and greater purchase volume — all of which support the bottom line. With the right programs in place, you can surprise and delight your customers in ways that will keep them coming back for more. Source: https://www.qsrweb.com/

Read More........ → February 22, 2023

Most Asian markets end higher, but Trump throws stimulus grenade

Sculptures stand outside the Hong Kong Stock Exchange. The Hang Seng closed up 0.9% to 26,343.10 points yesterday.

AFP /Hong Kong: Asian markets mostly rose on Wednesday following two days of selling, while investors appeared initially unfussed after US President Donald Trump called a new stimulus package “a disgrace” and told lawmakers to amend it.

Equities and oil prices took a hit as virus cases surged across the planet and a new more transmissible strain was reported in the UK, forcing governments to impose tight restrictions and lockdowns to contain the disease over the festive period.

The worrying spike in infections has overshadowed the rollout of vaccines and news at the start of the week that Congress had finally hammered out an economic rescue package worth around $900bn.

“So much of the good news of the vaccine had been already digested and even the stimulus bill that people had largely anticipated,” Joanne Feeney of Advisors Capital Management said on Bloomberg TV.

“So some of the flattening of the market just reflects how much has already been built into the market from those two good sources of news.”

However, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Singapore, Mumbai, Taipei and Manila were all in positive territory after recent losses, while Wellington put on more than 1%. Jakarta and Bangkok fell.

London opened with losses, though Paris and Frankfurt both rose.

But Trump’s outburst against this week’s stimulus agreement raised eyebrows. The outgoing president slammed the package as not having enough for American families and told Congress to rethink it, raising the possibility of it being held up until after Christmas.

“It really is a disgrace,” he said in a video message posted on Twitter.

“I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple,” he added, referring to relief cheques being prepared. “I’m also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation, and just send me a suitable bill.”

OANDA’s Jeffrey Halley said: “Asia’s first reaction appears to be that President Trump is bluffing, or that even if Trump vetoes the fiscal stimulus, Congress will act quickly with the necessary votes” to override his veto.

“Given that many Congressional representatives have probably already left Washington DC for the holidays, that could be complacent.

For now, markets appear to be holding off pressing the sell button until the situation clarifies.” DailyFX strategist Ilya Spivak warned: “This is yet another catalyst to inspire people to cash out.”

And Axi analyst Stephen Innes warned the first quarter of 2021 could be a struggle for markets. “Besides the obvious market sentiment shifts on the most worrying virus mutation, some dim-lit economic worries could still hurt the reflation trade” in the first three months of the year, he said.

“Even with the vaccine rollout getting underway, people had become polarised into one of two groups — those ready to travel now and those who are not prepared for six months or more.

“With the new variant of the virus unleashing its wrath on the UK, it is not a stretch to assume that the percentage of those ready to travel anytime soon will drop.” Worries about the impact of new lockdowns on travel have hit oil prices badly, with both main contracts down more than 1% on Wednesday and around 6% lower since hitting 10-month highs last week.

Investors are keeping a wary eye on post-Brexit trade talks as British and European Union negotiators struggle to find common ground with just over a week to go until a deadline for a deal passes.

The EU has rejected the latest UK offer on the crucial sticking point of fishing but is ready to pursue an agreement even beyond the end of the year cut-off, diplomats said.

According to sources in a meeting of ambassadors, EU negotiator Michel Barnier said he could not guarantee there would be a deal but that the bloc’s “door will remain open”, although Britain has rejected the idea of continuing talks into the new year.

Still, traders remain hopeful a last-minute deal will be hatched, which was providing a little support for sterling. In Tokyo, the Nikkei 225 closed up 0.3% to 26,524.79 points; Hong Kong — Hang Seng ended up 0.9% to 26,343.10 points and Shanghai — Composite closed up 0.8% to 3,382.32 points on Wednesday.Source: https://www.gulf-times.com/

Read More........ → December 24, 2020

Most Asian markets end higher, but Trump throws stimulus grenade

Sculptures stand outside the Hong Kong Stock Exchange. The Hang Seng closed up 0.9% to 26,343.10 points yesterday. 

AFP /Hong Kong: Asian markets mostly rose on Wednesday following two days of selling, while investors appeared initially unfussed after US President Donald Trump called a new stimulus package “a disgrace” and told lawmakers to amend it.

Equities and oil prices took a hit as virus cases surged across the planet and a new more transmissible strain was reported in the UK, forcing governments to impose tight restrictions and lockdowns to contain the disease over the festive period.

The worrying spike in infections has overshadowed the rollout of vaccines and news at the start of the week that Congress had finally hammered out an economic rescue package worth around $900bn.

“So much of the good news of the vaccine had been already digested and even the stimulus bill that people had largely anticipated,” Joanne Feeney of Advisors Capital Management said on Bloomberg TV.

“So some of the flattening of the market just reflects how much has already been built into the market from those two good sources of news.”

However, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Singapore, Mumbai, Taipei and Manila were all in positive territory after recent losses, while Wellington put on more than 1%. Jakarta and Bangkok fell.

London opened with losses, though Paris and Frankfurt both rose.

But Trump’s outburst against this week’s stimulus agreement raised eyebrows. The outgoing president slammed the package as not having enough for American families and told Congress to rethink it, raising the possibility of it being held up until after Christmas.

“It really is a disgrace,” he said in a video message posted on Twitter.

“I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple,” he added, referring to relief cheques being prepared. “I’m also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation, and just send me a suitable bill.”

OANDA’s Jeffrey Halley said: “Asia’s first reaction appears to be that President Trump is bluffing, or that even if Trump vetoes the fiscal stimulus, Congress will act quickly with the necessary votes” to override his veto.

“Given that many Congressional representatives have probably already left Washington DC for the holidays, that could be complacent.

For now, markets appear to be holding off pressing the sell button until the situation clarifies.” DailyFX strategist Ilya Spivak warned: “This is yet another catalyst to inspire people to cash out.”

And Axi analyst Stephen Innes warned the first quarter of 2021 could be a struggle for markets. “Besides the obvious market sentiment shifts on the most worrying virus mutation, some dim-lit economic worries could still hurt the reflation trade” in the first three months of the year, he said.

“Even with the vaccine rollout getting underway, people had become polarised into one of two groups — those ready to travel now and those who are not prepared for six months or more.

“With the new variant of the virus unleashing its wrath on the UK, it is not a stretch to assume that the percentage of those ready to travel anytime soon will drop.” Worries about the impact of new lockdowns on travel have hit oil prices badly, with both main contracts down more than 1% on Wednesday and around 6% lower since hitting 10-month highs last week.

Investors are keeping a wary eye on post-Brexit trade talks as British and European Union negotiators struggle to find common ground with just over a week to go until a deadline for a deal passes.

The EU has rejected the latest UK offer on the crucial sticking point of fishing but is ready to pursue an agreement even beyond the end of the year cut-off, diplomats said.

According to sources in a meeting of ambassadors, EU negotiator Michel Barnier said he could not guarantee there would be a deal but that the bloc’s “door will remain open”, although Britain has rejected the idea of continuing talks into the new year.

Still, traders remain hopeful a last-minute deal will be hatched, which was providing a little support for sterling. In Tokyo, the Nikkei 225 closed up 0.3% to 26,524.79 points; Hong Kong — Hang Seng ended up 0.9% to 26,343.10 points and Shanghai — Composite closed up 0.8% to 3,382.32 points on Wednesday. Source: https://www.gulf-times.com/

Read More........ → December 24, 2020

Rupee gains 40 paise; touches 73.90 against dollar after RBI Guv comments

AUG 27, 2020 MUMBAI: The rupee gained sharply in afternoon trade and touched 73.90 against the US dollar on Thursday after RBI Governor Shaktikanta Das said the central bank has not exhausted its ammunition to deal with the current situation due to the coronavirus pandemic. The rupee rose 40 paise from its closing level of 74.30 on Wednesday. In morning trade on Thursday, it had touched 74.36 against the American currency. Speaking at a webinar organised by financial daily Business Standard, Das said that rather than becoming averse to lending, banks have to improve their risk management and governance frameworks, and also build sufficient resilience. "Extreme risk aversion can be self-defeating, banks will not be able to win their bread," Das said, amid reports of a slowdown in credit growth in the system. He also said the central bank has not exhausted its ammunition, whether on rate cuts or other policy actions, to deal with the current situation due to the pandemic. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.08 per cent to 92.93. On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 173.06 points higher at 39,246.98 and broader NSE Nifty rose 46.85 points to 11,596.45. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,581.31 crore on Wednesday, according to provisional exchange data. Brent crude futures, the global oil benchmark, rose 0.18 per cent to USD 45.72 per barrel. Copyright © Jammu Links News, Source:  Jammu Links News

Read More........ → December 13, 2020

Rural Inda grows at 3X of urban India in FMCG

Rural India is outpacing India in FMCG growth trends with demand in the rural areas at three times the national average in June. Nielsen has revised the forecast for the FMCG sector for the financial year 2020 to flat compared to its earlier forecast of a growth of 5-6 percent.

As per Nielsen Q2 2020 FMCG growth snapshot data for the FMCG sector, rural areas grew three times of the all India numbers in June. While the national growth numbers were at 4.5 percent, rural India grew at 12.5 percent with urban areas at a minuscule .04 percent. For the quarter, April-June, growth was in negative territory at 17.1 percent for the national average while rural fell much less at 11.2 percent while the decline was more pronounced in urban areas at 20.4 percent.

According to Nielsen, lower COVID incidence, government stimulus and agricultural impetus have boosted rural sentiments. Some of the measures include Rs 40,000 crore increase in allocation of MGNREGA, 116 districts of UP, Jharkhand, Odisha, MP, Rajasthan & Jharkhand, included in the 'Garib Kalyan Rojgar Abhiyan' - to ensure opportunities to the migrant-laborers as per their skill set, upskilling of three lakh migrant workers with short-term programmes and Rs 1 lakh crore agri infrastructure Fund for farm gate infrastructure for farmers. A good monsoon and higher sowing of crops have aided the rural sector.

The strong rural growth has also been led by reverse migration hotspots as workers moved back from the cities to their homes in the villages due to the lockdown and Covid worries.

On the future outlook, Nielsen says that festivities will be an important factor. The second half of the year has some of the big festivals across India. Spends are expected to revive during this time to compensate for the loss of dine-out and entertainment. Food categories are expected to see a higher growth because of this.

It estimates that loss of employment will hurt consumption. Though unemployment has come down post hitting a 24 percent peak in April/May it still continues at 11 percent level. Loss of jobs across different sectors is expected to hit consumption demand, it said.

The scenario remains robust for the rural sector. There are lower COVID cases in rural areas and reverse migration expected to give a positive uptick. In addition, MNREGA wages are at an all-time high, rural disbursement is more than two times of same period last year, the progress of the southwest monsoon so far has been bountiful and flood impact very low compared to last year, restricted to 2-3 states.

There is a positive boost for agriculture with 40-60 percent higher water availability in reservoirs, increased sowing area coverage. The Rabi harvest in April was good and with a good monsoon Kharif harvest is expected to augurs well too and to the MSP prices for crops have also seen a significant increase.

For the urban areas, with continued relaxation of lockdown businesses, offices, malls and entertainment centres opening up and expected to play a major role in creating positive sentiments in urban areas. (IANS) Source: https://southasiamonitor.org

Read More........ → August 11, 2020

India to export ventilators

The Group of Ministers (GoM) on COVID-19 have agreed to the proposal of the Ministry of Health and Family Welfare to allow the export of Made-in-India ventilators.

The export prohibition on ventilators was imposed in March to ensure domestic availability to effectively fight COVID-19. Now, with this decision, the ministry hopes that the manufacturers of domestic ventilators would be in a position to find new markets in foreign countries.

Currently, only 0.22 percent of the active cases are on ventilators across the country.

"Additionally, there has been substantial growth in the domestic manufacturing capacity of ventilators. Compared to January, there are presently more than 20 domestic manufacturers for ventilators," said ministry officials.

This significant decision comes on the heels of India continuing to maintain a progressively declining low rate of case fatality of patients, which currently stands at 2.15%, and means that fewer numbers of active cases are on ventilators.

On Saturday, India reported a new record surge of 57,118 fresh infections, taking the total number of cases to 16,95,988. The country also witnessed 764 COVID-19 related deaths in the last 24 hours. The total fatalities due to the virus now stand at 36,511. (IANS) Source: https://southasiamonitor.org

Read More........ → August 06, 2020

Moody's slashes India GDP growth in 2020 to 2.5 pc

MAR 27, 2020 NEW DELHI: Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy. The estimate for 2020 compares to 5 per cent economic growth in 2019. In its Global Macro Outlook 2020-21, Moody''s said India is likely to see a sharp fall in incomes at the estimated 2.5 per cent growth rate, further weighing on domestic demand and the pace of recovery in 2021. "In India, credit flow to the economy already remains severely hampered because of severe liquidity constraints in the bank and non-bank financial sectors," it said. Earlier this week, India imposed a three-week long nationwide lockdown, the most far-reaching measure undertaken by any government to curb the spread of the coronavirus pandemic that has killed at least 17 people in the country so far. The lockdown has resulted in closure of businesses as well as factories and temporary unemployment for thousands of workers. The lockdown followed suspension of train, flight and long distance bus services last week. The number of deaths around the world linked to the new coronavirus has crossed over 24,000. In India, over 700 coronavirus cases have been reported so far. Moody''s said the global economy will contract in 2020, followed by a pickup in 2021. "We have revised our global growth forecasts downward for 2020 as the rising economic costs of the coronavirus shock, particularly in advanced economies, and the policy responses to combat the downturn are becoming clearer," it said. Moody''s now expects real GDP in the global economy to contract by 0.5 per cent in 2020, followed by a pickup to 3.2 per cent in 2021. In November last year, before the emergence of the coronavirus, the rating agency was expecting the global economy to grow by 2.6 per cent this year. "Our forecasts reflect the severe curtailment of economic activity in recent days as the coronavirus has spread throughout the world," it said. "Lockdowns and other social distancing measures have expanded throughout advanced and emerging market countries." "Financial sector volatility has exploded to levels last seen during the 2008 global financial stress, despite the expectation of rapid policy response from major central banks and governments," it said. The financial market stress is a reflection of deep anxiety and uncertainty around the real economic costs that households and businesses around the world will bear. The severe compression in demand over the next two to four months will likely be unprecedented. Moreover, the widespread loss of income for businesses and individuals across countries will have a multiplier effect throughout the global economy. "Over the next few months, job losses will likely rise across countries," Moody''s said adding "the speed of the recovery will depend on to what extent job losses and loss of revenue to businesses is permanent or temporary." Even in countries where governments are in a position to provide support through large and targeted measures, some small businesses and vulnerable individuals in less-stable jobs will likely experience severe financial distress, it said adding fiscal and monetary authorities are increasingly stepping up the level of support to their respective economies. Fiscal measures include immediate support to households in the form of tax relief and transfers, credit lines and subsidies to businesses, and explicit government guarantees on bank loans. Indian government too on Thursday announced a Rs 1.7 lakh crore package including free foodgrains and cash to poor, for the next three months. Moody''s said central banks are taking actions aimed at ensuring ample liquidity in the financial system, that credit conditions do not overly tighten, credit continues to flow smoothly to households and businesses, and the banking system remains robust. "For central banks, limiting the duration of the shock to one or two quarters is also imperative to prevent it from manifesting into a banking or broader financial sector crisis," it said. Stating that it expects policy measures to continue to grow and deepen, as the consequences of the shock in terms of depth and duration become clearer, the rating agency said it is impossible to accurately estimate the economic toll of this crisis. "There are significant unknowns, such as how long the virus will take to be fully contained and, by extension, how long economic activity will remain disrupted," it said. Copyright © Jammu Links News, Source: Jammu Links News

Read More........ → July 20, 2020

Sensex off highs, 450 points up post RBI's fresh measures

APR 17, 2020 MUMBAI: The Indian stock market lost most of its initial gains despite the announcement of fresh liquidity measures by the Reserve Bank of India (RBI). The BSE Sensex, although trading in the green, is currently down over 650 points from the intra-day high of 31,711.70 points. At 12.10 p.m., it was trading at 31,055.05, higher by 452.44 points or 1.48 per cent from its previous close of 30,602.61 It had opened at 31,656.68 and has so far touched an intra-day low of 30,960.94 points, The NSE Nifty50 was trading at 9,107.40, higher by 114.60 points or 1.27 per cent from its previous close. The Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced a slew of fresh liquidity measures. To mitigate any economic fallout on financial liquidity due to COVID-19 pandemic, the RBI has announced a reduction in reverse repo rate by 25 basis points to 3.75 per cent, among other measures. Copyright © Jammu Links News, Source: Jammu Links News

Read More........ → July 19, 2020

Korea's real estate policy fiasco

Seoul tops list of apartment price growth among major cities

By Lee Min-hyung

Since his inauguration in May, 2017, President Moon Jae-in and his administration have been waging a war against real estate speculation by employing all possible measures focused on punitive taxation and lending regulations.

With the lofty goal of offering homes to more people at affordable prices, their policy initiatives have been considered to have had good intentions but the attempts have not come to fruition as they defy the basic market principle of supply and demand.

Experts said that if the government continues to focus on suppressing demand without supplying more homes in the capital where most Koreans want to live, it will freeze trading and distort the market, eventually fueling pent-up demand and a further hike in home prices over the long term.

The side effects of the government's ineffective real estate policies are manifested in the latest data comparing apartment prices in major cities around the world.

Apartment prices in Seoul have posted the largest growth for the past three years among those from other mega-cities; a result of the government's "reckless" regulations that have distorted the market.

According to Numbeo, the world's largest cost of living database, apartment prices in downtown Seoul have skyrocketed 56.6 percent over the three-and-a-half years since the end of 2016.

This was the biggest increase, surpassing that from the so-called "superstar" cities ― such as New York, Paris, London, Munich and Tokyo.

As of July 1, the average apartment prices per 3.3 square meters in downtown Seoul came in at 65.5 million won ($54,800), the third largest after city-states, Hong Kong and Singapore, according to the data.

The steep rise in prices here is one of the biggest headaches for the government, as the authorities have failed to stabilize the soaring costs of apartments even after imposing 22 sets of strong real estate regulations over the past three years.

Economists argue that the Moon administration should let go of its "regulation-driven" real estate policies, and stop introducing additional ones focusing on "restraining" demand.

"The key lies in controlling the supply and demand in a more market-friendly manner," Yonsei University economist Sung Tae-yoon said. "Current real estate policies are going against market principles, so the government should change its years-long approach toward this issue."

The remarks reflect on the government's distorted sets of regulations with the focus on controlling demand by de facto disallowing ordinary citizens to get mortgages. The government has argued such steps were aimed at stabilizing the market against real estate speculators.

But the economist refuted this claim, saying the move has ended up bringing about a boomerang effect on non-homeowners, including those in their 30s and younger.

"The regulations blocked young people with small seed money and those living in a rented apartments from purchasing their own homes," he said. "They fell victim to the real estate policies, and this is not a move in the right direction. The authorities need to consider shifting their approach."

With the apartment prices rising steeply, regulations only amplify the sense of crisis among non-homeowners that they need to purchase apartments before prices go up even further.

The atmosphere has in recent years surfaced across the nation because Seoul apartment prices have jumped every time the government announced new regulations. To make matters worse, the authorities are showing no sign of changing their botched approaches to real estate policy, and only hint at introducing "unceasing" regulations with the blind belief that regulatory measures are the "cure-all" to stabilize the market.

Myongji University professor of real estate Kwon Dae-jung urged the government to follow market logic, and stop seeking to suppress it with regulations.

"Increasing the housing supply in Seoul is the only step the government can take to stabilize the market," he said. "The number of homes to be supplied in the capital will decline to 20,000 in 2021, compared to this year's 41,000."

"If the supply declines and the economy bounces back next year, housing prices will definitely go up," he said. On top of that, massive market liquidity is flowing into the real estate market, raising the possibility over the housing market bubble, Kwon added.

He also said the nation's prolonged low interest rate continues to act as a negative factor in stabilizing the market. The government needs to come up with measures to redirect the liquidity into areas other than real estate.

But the key should lie in expanding the supply of apartments in Seoul, he said. Toward this end, he advised the government to consider easing regulations on the upper story limit for apartment blocks. This does not allow any new apartments to exceed 35 floors.

Despite the previous botched real estate regulations, the land ministry introduced its 22nd set of regulations Friday with the focus on imposing more taxes on owners of multiple homes. But the government did not get down to brass tacks this time ― again ― as the measures have nothing to do with increasing the housing supply and helping non-homeowners.

Gyeonggi Province Governor Lee Jae-myung also criticized the Moon administration for its failure in real estate policies.

"Regulations on loans and housing transactions cannot be a fundamental solution from a longer-term perspective and can only introduce balloon effects," Lee said.

He claimed the government needs to collect more real estate taxes from homeowners' unearned income when making apartment transactions. Source: https://www.koreatimes.co.kr

Read More........ → July 13, 2020

Face Reality When Trading the Financial Markets

By Paul Ebeling Face Reality When Trading the Financial Markets  You may have seen the articles about how trading the financial markets is a very hard to succeed in. How every day, hundreds of fledgling traders try their hand at the stock market for the 1st time, and in a couple of weeks they recede with their tails between their legs.

It is common that new traders see this content and think to themselves “Hey, I know what to do now. I can succeed where they have failed.”

This is a good mentality to have in the long run, as facing adversity can drive you to do better and exceed your own expectations.

However, there is a reality to face.

Even if you read all the trading book adnblogs in the world, there are Key reasons why people end up failing.

The Big Q: What are The Reasons?

One fatal flaw that most traders fall victim to is perceiving the stock market as a standalone entity. They look at it as game of Me Vs. It, That the financial markets are things to be conquered.

The market is actually something much bigger and allegorical than that.

The stock market is affected by the action of others around the world. It is operating on the actions that all make, and traders affect it in a grander way than most.

When looking at the stock market, it is a look at a litmus test for the culture of finance and social moods of society. In this same vein, the market is largely movable because of thousands of traders making similar decisions, thus creating a pattern. This speaks to how the market is more so a collective than it is a commodity item.

So, it is imperative to consider this carefully: the stock market can only operate when someone is losing money.

When everyone who plays the game of trading makes money, there’s no one on the losing end of things. In stock trading, there has to be a gain and there has to be a loss, there is a Winner and a Loser on the side of each trade.

If you want to try out stock trading then this all may sound disheartening, what is the point in trying if there’s a 90% chance that you will fail?

Stock trading success depends on Optimism.

While the odds are stacked against you, you will fail for sure if you do not try. As trying at least gives you that 10% chance of making a profit.

The simplest solution is to stay realistic but hopeful, and not pessimistic.

When you know going in that there is a very large learning curve and the possibility to fail, you do not give yourself too high of expectations. This, then, is a integral part of trading psychology.

Psychology has a lot to do with the success of stock trading, whether in terms of market projections or individual mentality.

One demographic of traders that fail are those who were not mentally prepared for trading, and this can apply to the pressure required of trading stocks or the failures they go through that ultimately push them out of the market altogether.

Psychology and trading are also impacted by concepts like culture and sociology.

There is an ebb and flow to the stock market, and it is usually dictated by social circumstances. This can include a grand scale social incident, like a newly diffused war that helps to reignite a country’s economy, or more simply social ideas, like trader mentality and crowd-think concepts.

Remember, there are some obvious mistakes that many fledgling traders make that cause them failure.

Understand that trading is not a Game of being psychic or perfect. It is a game of experience, patience and paying attention.

Below is a list of some Key reasons people fail as new traders, as follows:

1. You do not consider practice Vs. the real thing: One method of trading practice is to use a trading simulator, and this is definitely not a bad idea. Trading simulators help you get acclimated to the intricacies of trading, but they don’t prepare you for the psychological aspects. When you’re playing around with fake money, losing big might make you feel bad because of the implication you failed at trading, but it does not compare to the emotional turmoil of losing all of your real cash.
2. You focus too heavily on finding the perfect strategy: There is no perfection in stock trading, ask seasoned traders and they will tell you that even they fail at times using tried and true strategies they craft after years of experience. New traders tend to always push for that “Holy Grail” trading strategy. It’s important to continuously look for ways to improve the strategies you have in place, but trying and failing to find the perfect strategy is a waste of time.
3. You deviate from the strategy at hand: Instead of flip-flopping on the strategy you already have in place, follow it through. If it fails, you know it won’t work the next time and can adjust it accordingly. Apply scientific method-like analysis to your trading strategies. Develop hypotheses, and then see how your experiment pans out. When you do not stick to your plan, your methodology can’t be analyzed as well as it could have been otherwise.
4. You react to the market on a whim: Good traders establish a decent risk-to-reward ratio. When you do not have a plan in place, or you do not stick to the plan you already prepared, you risk simply going off of the market itself. Sometimes this can do you some favors, but realize that any earnings you make based on a half-cocked strategy will be pure luck. Only reacting to the market and not creating a plan can negatively affect your win/loss ratio in a big way.
5. You trade too much: Many new traders assume that the more they trade, the bigger their chances of success are. This is false. You should be trading because you have found a good opportunity to trade, not just because you feel like you need to trade for a daily quota.

Failure does not have to be inevitable in the world of trading. If you put in the effort it takes to succeed and commit to practicing good trading habits, you will likely prevail. Source: http://www.livetradingnews.com/

Read More........ → October 15, 2016

Hillary Clinton’s Tax Plan Will Destroy US Jobs Market

Hillary Clinton’s Tax Plan Will Destroy US Jobs Market

Hillary Clinton’s proposed tax increases on people with high incomes and on businesses would constrain economic growth, leading to lower wages and about 697,000 fewer jobs, according to a right-leaning policy group’s analysis.

The Democratic presidential nominee’s tax plan, which includes proposals to raise taxes on multimillionaires and impose a “financial risk fee” on banks, would change economic behavior enough to reduce US GDP (gross domestic product) by 2.6% over the long run, according to a study prepared by the Washington-based Tax Foundation. In that slightly smaller economy, wages would be 2.1% lower, the report said.

By itself, “the plan would reduce the after-tax incomes of the top 1% of taxpayers by 6.6% but increase the after-tax income of all other income groups by at least 0.1%,” the analysis said. Still, after accounting for smaller economic growth that would result, “all after-tax incomes would fall by at least 0.1%t in the long run,” it said.

After accounting for that reduced tax base, Mrs. Clinton’s plan would increase federal revenue by $663-B over 10 years, the Tax Foundation determined, a number that’s less than 50% of some previous estimates.

The lower number stems from the group’s use of a method called “dynamic scoring,” which seeks to account for changes in economic behavior that would result from changes to the tax code.

In the case of Mrs.Clinton’s plan, higher marginal rates on both capital and labor income would mean that the economy wouldn’t grow as much as it would without the effects of those changes, according to the analysis. Dynamic scoring can be controversial among economists, who disagree on the best way to construct the models they use.

Because dynamic-scoring models anticipate that people will work, buy and invest more when their taxes are lower — generating economic growth, the models typically find that tax cuts cost less than other models predict.

On a “static” basis Mrs. Clinton’s plan would raise $1.4-T in new federal revenue over a decade, the study found. That amount matches the overall estimate for Mrs. Clinton’s plan that another group, the Tax Policy Center, released this week.

Analysts have moved quickly to reassess the tax plans of both Mrs. Clinton and Donald Trump, the GOP nominee, over the past 6 weeks as both candidates announced major revisions to their plans.

Economists at the Tax Foundation have previously worked with Donald Trump’s campaign to help evaluate his tax plan. The campaign has yet to publish full details of how that plan would work.

The Tax Foundation published an analysis of Trump’s latest plans that provided a range of amounts for its effects. On a static basis, Trump’s proposals would reduce federal revenue by $4.4-T to $5.9-T over 10 years, the group found, while on a dynamic basis, the reduction would range from $2.6-T to $3.9-T.

The group’s analysis of Donald Trump’s plan also found that it would increase economic growth by at least 6.9%, increase wages by at least 5.4% and result in at least 1.8-M more jobs.

One of Mrs. Clinton’s most recent proposals ie overhauling the estate tax to require much higher payments from the largest estates would raise $309-B over 10 years on a static basis, but just $7-B under dynamic scoring, according to the analysis.

“Clinton’s new estate tax proposal has the single largest economic impact of all her policies,” the Tax Foundation’s director of federal projects and the study’s author wrote Tuesday. Its effect alone accounts for about 40%of the economic impact of Mrs.Clinton’s plan, he wrote.

“This is because the much higher marginal estate tax rates would greatly reduce the incentive to save and invest,” he wrote. As a consequence, collections of individual and payroll taxes would decrease, he said, and that is what explains the decline from $309-B to $7-B.

Under current tax law, the estate tax applies a 40% rate to estates worth more than $5.45-M.

Mrs.Clinton wants to raise that rate to 45% and apply it to estates worth more than $3.5-M. Then, she wants progressive rates on higher-value estates: 50% on those worth more than $10-M; 55% for those worth more than $50-M and 65-M for those worth more than $500-M. Note: Those dollar values are 2X’s for married couples.

Mrs. Clinton’s plan to overhaul the taxation of capital gains by creating a 6-year scale of graduated tax rates would raise $35-B over 10 years on a static basis, but would actually reduce revenue by $47-B under the Tax Foundation’s scoring.

Her plan for capital-gains taxes, which is designed to reward long-term investors, would apply a 20% rate to gains on assets held more than 6 years. The rate would gradually increase for gains on assets held for shorter time periods, topping out at 39.6% for assets held less than 2 years.

Another new Clinton tax plan proposal would double to $2,000 per child the amount of the child tax credit that’s available to families with children under the age of 4.

She wants to also increase the amount of that credit that can be paid as a refund to families who owe no federal income tax. That boon for middle-class taxpayers would cost about $199-B over 10 years on a static basis, and $220-B under dynamic scoring, the report said.

Overall the Trump tax plan is more conducive to economic and jobs growth than is the Clinton tax plan, which would include massive social spending if she were to be elected President of the United States.

Stay tuned…Source: http://www.livetradingnews.com/

Read More........ → October 14, 2016

IAF WFC: Indian denim sector to become 8-billion-dollar industry

Simone Preuss: At the just concluded 32nd IAF World Fashion Convention 2016, which took place on September 27-28 at the Trident Nariman Point hotel in Mumbai, India, particular emphasis was placed on the denim market, as it underwent a revolution in the country from the '80s and '90s onwards and has not looked back since: It currently is a 4.5-billion-dollar industry, which has been growing at 15 percent annually for the last five years. Now, experts are predicting that it will grow to more than 8.1 billion US dollars by 2023. "The denim revolution started in India in the '80s and '90s, which gradually shifted to lifestyle and more so fashion of late. With 7.4 percent of India's GDP growth and a per capita income of 1,362 US dollars, India continues to be one of the largest producers of denim in the world," said Deval Shah, Reliance Brands' business head - Diesel & GAS, at Thursday's session on "New Opportunities in Denim". India is benefiting from cheap prices and high denim demand: He pointed to Bangladesh as a key partner for denim: "With the emergence of denim demand from Bangladesh to which India exports a huge quantity, Indian businesses have doubled their installed capacity of denim to 1.3 billion meters per annum over the last five years, with an estimated investment of 60 crore rupees [9 million US dollars] per million meters," added Shah. But while the number of denim manufacturers has almost doubled from 25 five years ago to currently 42, excess production capacity leads to 30 percent of this capacity remaining idle. For some, decreasing the already cheap price of jeans further would be a solution. "India is selling the cheapest pair of jeans, which is available nowhere in the world. If we bring down the price of jeans to 10 US dollar a piece as is currently prevailing in the US, India's denim demand would increase, resulting in an increase of this sector's growth at 20 percent per annum," pointed out Subir Mukherjee, business head for denim at Bhaskar Industries. Manjula Tiwari, CEO of Future Style Lab, added that "brands are getting disturbed due to a rapid change in fashion and technology". This was the outcome of Thursday's session on "New Opportunies in Denim", a panel discussion moderated by Harminder Sahni, managing director at Wazir Advisors. Other speakers included GAS Jeans founder Claudio Grotto; Anurag Asthana, vice president (PD & sourcing) Myntra Designs and Sanjay Vakharia, director at Spykar. World Fashion Convention focused on sourcing, retail, technology and branding: The two-day International Apparel Fashion (IAF) event was organised jointly by the Clothing Manufacturers' Association of India (CMAI) and the Union Ministry of Textiles and the Union Ministry of Commerce. It attracted more than 500 participants, among them 250 Indian apparel and denim brands and manufacturers and industry representatives from about 20 countries across the world. Other sessions discussed new opportunities in sourcing, retailing, technology and branding. "E-retailing is going to be the next growth opportunity in the Indian textiles and apparel sector in the next few years", stated Aniruddha Deshmukh, managing director and CEO of Mafatlal Industries Ltd when speaking on the significance of online retail for the apparel market. In terms of trade, Francesco Marchi, director general of EURATEX, highlighted the need to initiate a dialogue on the free trade agreement (FTA) between India and the European Union and the United States, especially in view of the UK pulling out of the EU: "The Indian government should start negotiations for the FTA with the EU and the UK for the benefit of the Indian apparel sector. It is hard to imagine the success of the FTA without the UK, post Brexit. UK continues to be a textiles manufacturing hub, contributing 29 percent of the entire apparel trade in the EU. Twenty-two percent of India's exports to the EU goes through UK," he advised. The Clothing Manufacturers' Association of India (CMAI) also signed a memorandum of understanding with the China Chamber of Commerce for the Import and Export of Textiles (CCCT) to explore potential areas of mutual cooperation for increasing apparel exports from India and to make use of any market share not utilised by Chinese apparel manufacturers. The 33rd IAF World Fashion Convention will take place in Rio De Janeiro, Brazil, on October 17th and 18th, 2017. Photo: Jörg Brinckheger / pixelio.de. Source: https://fashionunited.in/

Read More........ → October 04, 2016

Kids’ ethnic wear emerges a promising segment in India

Kids’ ethnic wear is still niche with not too many big players venturing into this space. However, it’s a growing market with many new brands and established one vying for space. Weddings drive up demand: For brands to carve out a niche takes constant innovation, with fabrics, pricing along with the right marketing avenues to attract customers. Since, these products are not about window shopping its more about aspirations. As Shashant Maru, Proprietor, Genuine says, “Ethnic wear is at the most 15 to 20 per cent of the junior wear market. In junior wear, its casual wear that dominates. Yet, the industry is growing at 10 per cent a year. The premium and super premium segment of ethnic wear is too well positioned.” In casual wear, western wear has taken over and ethnic now takes a backseat. But with indo western and fusion wear growing, people are ready to spend higher for the right kind of ethnic wear. So, there are *kurtis*, palazzos, *lehangas, ghargra cholis* and gowns with an ethnic touch which are in great demand. Though overall demand has fallen because of western wear but volumes are higher than before because of population growth. Since, it’s about a rare occasion, consumers are willing to spend more at one go if the product is good and presented properly. Nikhil Furiya, Partner, Era says, “Ethnic wear has been doing well for the last five or six years. This has prompted many brands to jump into this category. It continues to be a demanding segment where sustaining yourself in the long term is difficult. Brands like Era, Genuine, Popton, Doll, AMI, Disha and Pari amongst others have been around for more than 10 to 20 years. For older players it’s all about consolidating working with organized retail, systematic functioning and marketing. New brands find the going tough: As new brands enter the market experts opine girls’ ethnic is a challenging category. Market observers feel new brands have a tough time in establishing themselves, to attract retailers’ attention. You have to aggressively market your product and match it with a variety of trends and colors. Also, the fact that it’s a seasonal business also deters many from entering the market. “Though for a newcomer its is tough but for existing players kids ethnics is promising because there are diverse tastes across various states in India, each brand gets their own customers,” avers Minesh Shah, Director, AMI. He adds, “Right now the market is flat but still we hope to grow by 25 per cent.” Many brands have dedicated designing team doing research on what works in the market. Therefore, even if you are a 25-year-old brand but inconsistent with both elements, you can’t expect to grow well. Throwing light on the scope of mid segment category, Kaushik Mehta, Proprietor, Keel Beel, explains, “The industry is geared towards the mid segment and one can expect maximum growth there. People making premium products are just two per cent of the industry. So, their turnover and sales may not be significant even though their margins are higher. If you want turnover and sales you have to cater to the mid segment.”Source: https://fashionunited.in/

Read More........ → April 29, 2016

OVL takes 15% stake in Russia's 2nd biggest oil field for $1.3b

By Subhash Narayan Sep 04 2015 , New Delhi, Tags: ONGC Videsh (OVL), Companies, Tie-ups and Business deals,  ONGC Videsh, the overseas arm of the state explorer, will acquire 15 per cent stake in Russian oil producer Rosneft’s Vankor oil field in Siberia for close to $ 1.3 billion. This will be fourth biggest acquisition by OVL that will help the company get access to 3.3 million tonne per annum of oil production. OVL on Friday signed an agreement to buy 15 per cent interest in Vankorneft, the owner of Vankor oil and gas condensate field – Russia’s second biggest in terms of production – in the Turukhansky district of Krasnoyak territory. Rosneft holds 100 per cent shares in Vankorneft. The field has recoverable reserves of 2.5 billion barrels and will give OVL 3.3 million tonne per annum of oil production. “The acquisition is subject to relevant board, government and regulatory approvals and is expected to close by the middle of 2016,” OVL said in a statement. “The present transaction provides an opportunity to OVL to enhance its presence in Russia and is consistent with its stated strategic objective of adding high quality international assets to its existing E&P portfolio,” the statement added. While both OVL and Rosneft did not give value of the deal, a source privy to the development said the acquisition would require OVL to pay $1.3 billion. Citi worked as the sole exclusive financial advisor whereas Dentons worked as legal advisor to OVL on this transaction. For OVL, the Russia deal will be its fourth biggest acquisition. The company in 2013 paid $4.125 billion for a 16 per cent stake in Mozambique’s offshore Rovuma area 1, which holds as much as 75 trillion cubic feet of gas reserves. In 2009, OVL had bought Russia-focused Imperial Energy for $2.1 billion. Before that in 2001 it had paid $1.7 billion for a 20 per cent interest in the Sakhalin-1 oil and gas field off Russia’s far eastern coast. OVL currently has 36 projects in 17 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Kazakhstan, Libya, Mozambique, Myanmar, Russia, South Sudan, Sudan, Syria, Venezuela, Vietnam and New Zealand. Output from its fields is 167,000 barrels of oil and oil equivalent gas per day and has total oil and gas reserves of about 647 million tonne of oil equivalent. Upon completion of the Vankor field deal, OVL will have two seats in the board of directors of Vankorneft, Rosneft said in a statement. Rosneft, whose stake in the project will come down to 85 per cent, will, however, keep full control of the general infrastructure of Vankor cluster, including oil pipeline Vankor-Purpe.Vankorneft is Russia’s second-largest oil producing development. The Vankor field started production in 2009 and has recoverable reserves estimated at about 500 million tonne. Vankor pumped about 80.9 million barrels of oil in the first six months of the year. The field produces more than 60,000 tonne (442,000 barrels) a day and is one of the main sources of supply for the eastern Siberia-Pacific Ocean pipeline. Apart from OVL, the Russian entity is also expected to invite other companies for taking up stakes in Vankor fields. Source: mydigitalfc.com, Reference Image:flickr.com

Read More........ → September 05, 2015

India Emerges as New Battlefield between Samsung and Apple

By Chun Go-Eun (info@koreatimes.com): India is emerging as a new arena of competition between Samsung Electronics and Apple. Samsung is set to reveal its second Tizen operating system-mounted phone Samsung Z3 in India, while Apple also plans to release low-cost smartphones targeting the Indian market. The world’s No. 1 and No. 2 smartphone makers are fighting fiercely in the Indian smartphone market which has a great potential for growth. With a population of 1.2 billion, India has the smartphone uptake rate of about 30 percent. Samsung kept its top spot in India’s smartphone and mobile phone markets in the second quarter of this year thanks to the popularity of its low-cost phone Samsung Z1 and premium phone Galaxy S6 series. Samsung plans to maintain its leadership in India by promoting customer-friendly marketing strategy. Samsung is scheduled to hold the Tizen Developer Day event in Bangalore on July 30-31 and will make announcement of its second Tizen phone Samsung Z3. Source: Article

Read More........ → August 22, 2015