Ban on LoUs hit exports, MSMEs: Parliamentary panel

Terming the banning of Letter of Understanding (LoU)/Letter of Comfort (LoC) post Punjab National Bank (PNB) scam a “knee-jerk reaction by the RBI”, a Parliamentary panel recently said the adversely impacted exports and the  MSME sector. After the ban, e Export credit too declined 24.4 percent in the 2017-18 financial year and was down 29.6
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Nippon Yusen Kabushiki Kaisha (hereafter, “NYK Line”) announces that it has revised its forecast for the interim and full year consolidated financial results for the fiscal year ending March 31, 2019. The previous forecast was released on April 27, 2018. Revision of Forecasts for Interim and Full-Year Consolidated Financial Results Disparities between the revised forecast
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MUMBAI: The hike in anti-dumping duty on Indian shrimp exports to US in the final review by the US Department of Commerce (USDoC) is unlikely to have a material impact on Indian exports, says rating agency ICRA. India was the largest exporter of frozen shrimp to the US in 2017 with 32% share after some
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BEIJING: China, which challenged the US-dominated world order with a prodigious 15% GDP growth rate at one point in 1993 and by posting an average of over 9% for almost three decades, is slowing down. China’s Gross Domestic Product (GDP) grew at 6.8% in the first half of the calendar year 2018, to about $6.27
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China imported 146 million mt of coal and lignite in the first half of 2018, up 9.9% from the previous year and a three-year high, according to preliminary data released Friday by the General Administration of Customs. In June China imported 25.5 million mt of coal, up 17.9% on the year and 14% on the
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Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war. The detailing overnight of U.S. President Donald Trump’s already-threatened 10 percent tariffs on an
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Taiwan’s LNG terminals continue to operate normally, a source with operator CPC said Tuesday after the company issued alerts earlier in the day that it had stopped bunker operations at the ports of Keelung, Taichung, Suao and Hualien because of Typhoon Maria. LNG trading routes to northeast Asia could be affected and LNG deliveries delayed,
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Prices of steelmaking raw materials dropped to multi-week lows on Thursday as a festering trade row between China and the United States kept risk appetite low. Steel prices were steady, drawing some support from the news that China’s top steelmaking city of Tangshan ordered steel companies to meet ultra-low emissions targets, its latest effort to
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Donald Trump’s threat to impose tariffs on another $200 billion of Chinese imports could cut as much as half a percentage point from the nation’s economic growth, according to economists. The warning comes amid signs that the world’s second biggest economy — and biggest contributor to global growth — is already slowing down as a
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Large crude carriers have been hit the hardest by the perfect storm in the tanker shipping sector especially on the heels of the recent geopolitical tensions involving the U.S. and Iran. Tonnage overcapacity coupled with weak trading demand and weak OPEC output have seen tanker earnings dwindle over the recent period. Moving into the first months of 2018,
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