Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
The petition has prayed to the court to order the Authority not to remove unauthorised constructions in the city as large scale sealing and demolition shall cause hardships to people.
To cut transaction costs for traders, the government has launched an online facility for issuing Importer-Exporter Code Number.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
The government on Thursday said the two Indian traders, who were mistreated in the Yiwu city of China, are now safe in Shanghai but their return to the country will have to wait till the litigation against them is completed.
Banerjee said that traders would be hard hit by the Centre's decision on allowing FDI entry in retail.
A Chinese court has extended by two months the detention of 21 Indians, who were captured from the southern city of Shenzhen in January this year on charges of smuggling diamonds worth $7.3 million.
Addressing an election meeting on what once was the home turf of slain gangster-politician Atiq Ahmed, Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday appeared to invoke nature as a great leveller -- a force that delivers justice.
The banking system liquidity bounced back to surplus mode after three weeks, the Reserve Bank of India (RBI) data showed. This was due to government spending, according to dealers. The liquidity situation could further ease with the disbursement of the last tranche of incremental cash reserve ratio (I-CRR) worth Rs 50,000 crore on Saturday.
The police seized a huge quantity of explosives and banned firecrackers during raids in different locations in rural West Bengal and arrested at least 100 people for their alleged involvement in running illegal manufacturing factories, a senior state police official said on Tuesday.
Retail traders oppose ban on plastic bags
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
With export orders going down, the textile industry in Surat has been feeling the heat of the global financial crunch.
As raw sugar futures jumped 3 per cent on Monday to 21.55 cents a British pound, traders expect further increases in sugar prices in the coming days, until a clear picture emerges about the magnitude of the shortfall in the Indian sugar crop and production. When India, which is the largest sugar consumer, enters the market, there is bound to be considerable volatility in prices, analysts said, suggesting that the situation is akin to what India had experienced in early 90s.
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
Heightened volatility and lacklustre returns continue to make a dent in retail participation in the equities cash market segment. The percentage of retail participation in the average daily turnover in the National Stock Exchange's (NSE's) cash segment has come down to 40.8 per cent in February 2023, from 52 per cent a year ago. At the peak, retail investors accounted for nearly two-thirds of cash market volumes in July 2020.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
Wouldn't it be better to join the celebrations with the vast Hindu majority while at the same time criticising Mr Modi/BJP/RSS for politicising it? notes Shekhar Gupta.
All India Motor Transport Congress had given a call to boycott supplies to Goa from Thursday onwards.
Three Hindi-speaking traders were shot dead by suspected KLNLF militants in Central Assam's Nagaon district early Monday morning, police said.
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Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation. RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender.
All business establishments in Guwahati on Tuesday downed their shutters for the day to express solidarity with Team Anna's agitation against corruption and to demand the adoption of the Jan Lokpal Bill.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
The Centre has asked traders and resellers of medical devices to register in an attempt to expand the ambit of regulating the medical devices industry in the country. The move can have far-reaching consequences for both consumers and traders alike as products like face masks or prophylactics - now sold through grocers and other channels - may face issues of availability. In a notification dated September 30, the union ministry of health and family welfare said anyone wanting to sell, stock, exhibit or offer for sale or distribute a medical device, including in-vitro diagnostic medical device, will need a certificate of registration.
The party also promised reservation to minorities on basis of their population after the caste census.
Local station house officer Ashok Chakravarty said the decision to not offer namaz in public place was taken by the community itself after a meeting was held on Wednesday to maintain peace.
India's decision to ban the export of non-basmati white rice has pushed up global prices, prompting multilateral lending agencies, such as the International Monetary Fund (IMF), to call for a reconsideration of the move. Though nothing has been spelled out yet officially, sources said, the government might consider requests for government-to-government sale of non-basmati white rice, especially to West African nations where India is a major supplier. Also, traders and exporters of specialty regional rice varieties like sona masuri or gobindo bhog feel that they have been short-changed.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
Mishra was accused of sharing Pal's location from a Prayagraj court before the latter along with two policemen was shot dead on February 24.
The benefits are common in many cases, but are also different in some other respects.
Only the top 5 per cent profit makers account for 75 per cent of profits.
All major markets, daily haats, shopping malls and roadside shops were closed in response to the call given by Rajdhani Byabasai Jibika Bancho Samiti, police said. Even fish and vegetable markets were closed in protest against the government's permission to Reliance Retail Limited for opening its outlets, they said.
Onion traders in Azadpur mandi, Asia's largest wholesale fruit and vegetable market had gone on an indefinite strike to protest the Income Tax Department's raids on them.
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