qotd


Don’t struggle about the struggle. In other words, life’s full of ups and downs. So if you’re struggling, don’t worry, everyone else has or will at some point. ~ Sean Covey

Advertisements

An exclusive daily alert – IACC


An exclusive daily alert
Ø  Withdrawal of GSP has not overtly impacted the engineering exports from India so far, according to Engineering Export Promotion Council (EEPC), though the organization feels the real impact will be felt over a period of time.  Though the engineering exports to the US went up to US$990.5 million in June, 2019 from US$913 million in the same month of 2018, registering a growth of 8.5 per cent,  one has to be watchful whether and how the withdrawal of the GSP by the US is panning out,  said  EEPC. It may be noted that the GSP withdrawal impact is more felt in sectors like gem and jewelry, apparel etc.

Ø  It is reported that a revenue threshold of Rs 20 crore and a limit of 500 000 users may be set for a non-resident technology firm to pay tax on profits earned locally. This benchmark, if implemented, will affect technology companies like Google, Facebook and Twitter.

Ø  As reported in these columns earlier, Blackstone has acquired 6% in Future Life Style owned by Kishore Biyani.

Ø  The Tesla cars will soon be able to stream video content from Netflix and YouTube on the in-car displays, Tesla founder Elon Musk said in a recent tweet. However, the feature will work only when the car is stationary. The Netflix and YouTube support for Tesla cars will be rolled out in a few months, Musk said. Tesla car is likely to be launched in India by 2020.

 

Ø  Over a day after he went missing under suspicious circumstances, VG Siddhartha, the owner and founder of the largest coffee chain in India, Cafe Coffee Day (CCD), has been found dead and his body has been recovered.

Ø  The Appointments Committee of the Cabinet has approved the appointment of Rajiv Kumar as the new Secretary of the Ministry of Finance yesterday.  Kumar, a 1984 batch IAS officer from the Jharkhand cadre, was working as the Secretary, Department of Financial Services (DFS) at Ministry of Finance.

Ø  Parliament  yesterday cleared amendments to the companies law that will tighten norms pertaining to CSR spending for corporates, strengthen enforcement provisions and help de-clog National Company Law Tribunal. Rajya Sabha passed the Companies (Amendment) Bill, 2019 was passed by voice vote on Tuesday and the legislation would replace ordinance issued by the corporate affairs ministry.

Ø  As the battle for subscriptions gathers pace among streaming platforms in India, language is the access-key that everyone is reaching for. Much like what their peers in television did a few years ago, the OTT (over-the-top) platforms are adopting a mix of strategies—from commissioning original shows and films to repurposing old programmes from TV and dubbing—to strengthen their grip in the entertainment market.

 

Ø  Apple disclosed its cash on hand in its fiscal third-quarter earnings report on Tuesday. The company reported it has $210.6 billion in cash on hand compared with $225.4 billion the previous quarter. The company has been aggressively spending on original content, U.S. job creation and other investments. Apple started disclosing costs related to its services business for the first time in January. The category includes AppleCare, Apple Music and Apple Pay. Apple is focusing on bolstering its software and services offerings as the smartphone market saturates.

Ø  President Donald Trump kept up the pressure on the Federal Reserve, calling Tuesday for the central bank to enact a substantial interest rate cut. The call, made during an exchange with reporters, comes as the policymaking Federal Open Market Committee convenes for its two-day meeting, during which it is widely expected to approve a 25 basis point cut in the central bank’s benchmark overnight funds rate.

Ø  The Trump administration is proposing a rule that would require hospitals to publish the prices that are negotiated with insurers or risk being fined. The proposed rule, announced Monday, would apply to the roughly 6,000 hospitals that accept Medicare. Hospitals could be fined up to $300 a day if the standard and negotiated prices for services are not posted online.  The proposed rule would go a step further and require hospitals to also post the prices various insurance plans pay. President said   lowering health-care costs is one of his key priorities. About 30 million U.S. adults are estimated to have chronic kidney disease and most are not diagnosed, according to the Centers for Disease Control and Prevention. Treating the disease costs entails more than $110 billion a year, according to government data.

Ø  Beyond Meat says existing investors will be selling 3 million shares in a secondary offering even though the IPO was less than three months ago. Venture-backed companies often hold secondary offerings, but not this soon after an IPO. Beyond Meat will sell an additional 250,000 shares to raise cash for investing in its operations.

Ø  While corporate earnings so far have been a bit better than feared, that’s not been the case for companies that do the majority of their business overseas and are more susceptible to the tariff battle between the U.S. and China. Those companies have seen a stunning 13.6% drop in profits, compared with the 3.2% growth seen for companies that generate more than 50% of their sales inside the U.S., according to FactSet.

Ø  Procter & Gamble Chairman and CEO David Taylor tells CNBC on Tuesday that the U.S. consumer “remains strong” amid the U.S. trade war with China. The company reports fiscal fourth-quarter earnings and revenue on Tuesday that beat Wall Street expectations. Despite the company reporting an $8 billion write-down of its shaving business, shares hit an all-time high on Tuesday

 

 

INDO-AMERICAN CHAMBER OF COMMERCE

****************************************************
REGISTERED OFFICE: 1-C, VULCAN INSURANCE BUILDING | VEER NARIMAN ROAD | CHURCHGATE | MUMBAI – 400020

Tel: +91-022-22821413 (B) / +91-7045691088 /89 /90 /91

REGIONS: NEW DELHI | KOLKATA | MUMBAI | CHENNAI

BRANCHES: VARANASI | ODISHA | PUNE | GUJARAT |TAMILNADU | AP & TS | KARNATAKA | KERALA

WEB: WWW.IACCINDIA.COM

Did you know…


… that today is National Father-in-Law Day? Whether grumpy and gruff, quiet and sweet, or the handiest man around, remind him how much he is loved and appreciated this Father-in-Law Day!

~~~

Today’s Inspirational Quote:

“Rest and self-care are so important. When you take time to replenish your spirit it allows you to serve others from the overflow. You cannot serve from an empty vessel.”

— Eleanor Brownn

Quote of the day


A person of good intelligence and of sensitivity cannot exist in this society very long without having some anger about the inequality – and it’s not just a bleeding-heart, knee-jerk, liberal kind of a thing – it is just a normal human reaction to a nonsensical set of values where we have cinnamon flavored dental floss and there are people sleeping in the street. ~ George Carlin

Supplychain log Newsletter


march
Untitled

Gobind Ram Choudhary, MD, Anmol Biscuits

Special Interview:
Gobind Ram Choudhary, MD, Anmol Biscuits

Link: https://www.youtube.com/watch?v=4neglXN_OJM
(Courtesy: www.indoasiancommodities.com)

Top headlines

Major capacity expansion underway at Mumbai Port, JNPT

There would be a significant addition in the traffic …

UPS next day service triggers surge in financial numbers in Q2

Global logistics giant UPS has delivered a sterling performance …

IFC to pump in $200 million into Shriram Transport Finance
IFC, a member of the World Bank Group, will pump in …

SBI signs up SLCM for collateral management, warehousing services

India’s leading agri logistics solution provider, Sohan Lal Commodity Management …

TVS Capital leads fresh funding round for Leap India
Logistics start-up Leap India which specializes in providing packaging …

Tata Steel to deploy rail rakes to cut logistics cost

According to a recently published report in leading financial daily Business …

MoU signed for cargo services between Kochi and Male

India and Maldives recently signed a Memorandum of Understanding…

Shoppers Stop to set up a big unit at Urban Square, Udaipur

Bhumika Group has signed an agreement with Shoppers Stop …

Indian shrimp exports to EU shrink

European Union (EU) importers of Indian shrimp feel the number …

BUSINESS INFORMATION

Report

Cold chain logistics market to reach close to $600 billion

According to a recent report published by Allied Market Research …

Award

Honda receives ‘CII GreenCo Star Performer Award’

India’s leading two wheeler manufacturer, Honda …

OBOPAY CEO receives “Entrepreneur of the year” award

Shailendra Naidu, CEO of global financial technology company …

Event

Imports & Exports Documentation: Recent Updates & Blockchain

CII Institute of Logistics is organizing Training Workshop …

ASDC Annual Conclave

Automotive Skills Development Council (ASDC), the first Sector Skill Council of India …

Guest Column
What drives the management of your supply chain?
Logistics has by far been one of the most crucial and yet one of the least …

Jobs
Vacancy for procurement professional with IndianOil LNG 
IndianOil LNG for its re-gassification terminal at Kamarajar Port is inviting…

DGM level opening at Cochin Shipyard
Cochin Shipyard Ltd. invites applications from experienced…

SGDM (Purchase) vacancy at Electronics Corporation
Electronics Corporation of India (ECIL) is inviting application for…

Mineral Exploration Corporation to engage experts
Mineral Exploration Corporation invites applications for engagement…