Top headlines: New export clearence system, earthquake in Nepal, and more

Business Standard brings you the top headlines this hour

Single-window exports clearance system roll-out likely next year, in phases

A new web-based system for faster export consignment clearance is likely to be rolled out in a graded manner, starting early next financial year (2023-24), according to government officials.

This will permit exporters to lodge their export declaration documents online at a single point of clearance from authorities, obviating the need for a separate application required by different regulatory agencies. This will be in line with the existing clearance process for imports. At present, there is a physical process for registration on export consignments. Read more

India's gas reliance grows as Europe cuts down on energy consumption

GAIL (India), a torchbearer for India’s natural gas ambitions, stumbled into the second quarter of 2022-23 (FY23), weighed down by the turmoil in the global gas markets. It was forced to slash supplies to customers after a former Gazprom unit stopped liquefied natural gas (LNG) shipments.

Farther away, in Europe, member nations have introduced gas storage obligations, and agreed upon voluntary targets to cut gas and electricity demand by 15 per cent this winter. Read more

Measuring worth: Front-row seats to high return-on-equity stocks

The return-on-equity (RoE) is one of the best ways to screen high-performance companies in the stock market. Companies delivering high double-digit returns on their equity/networth (or shareholder funds) tend to grow faster than peers with a low RoE.

Higher RoE also empowers companies to invest in their growth and expansion without resorting to debt financing. This makes them less impervious to business cycles and volatility in the financial/bond markets. Read more

6.6 magnitude earthquake hits western Nepal; 6 dead, several injured

At least six people have died and scores injured when two back-to-back earthquakes hit western Nepal in Doti district, National Earthquake Monitoring Center said.

According to Kantipur, locals in Doti district have pulled out the dead bodies of three people when a strong earthquake hit the district on Wednesday at 2:12 a.m. Earthquake measuring 6.6-magnitude occurred in western Nepal whose centre was Doti district, according to the National Earthquake Monitoring Center. Another quake measuring 4.1 magnitude also occurred in the same district at 9:56 p.m on Tuesday. Read more

Embraer says talks for manufacturing aircraft in India progressing well

Embraer has said its discussions with Indian and global companies for building a new generation turboprop aircraft are progressing well. The Brazilian plane maker, which produces both civil and military jets, has been scouting for partners for its proposed aircraft programme, which could include the manufacture of planes as well.

“We are in discussions with potential partners in India and globally on a selection of partnering options for the next generation turboprop aircraft — including manufacturing. These discussions are ongoing and progressing well,” Embraer has said. Read more