Traders

Hit by absence of B'desh tourists, Kolkata traders think of wooing locals

The ongoing crisis in Bangladesh and subsequent non-arrival of travellers from there has led to a blow to the traders of a particular area in central Kolkata, which is popular among tourists from the neighbouring country for shopping and staying. A section of those perplexed traders are staring at a void, while others are either looking at new avenues or decided to woo back the Indian customers they have lost in the past. An estimated 15,000 families are now affected by the situation. According to a trader, in the past, local customers and tourists from other states in India used to visit these areas for various purposes. They were more or less ignored by the traders and their population gradually dwindled over the years. "Now there is a big question mark. They don't know what to do they don't know in which direction their business will go since they are dependent only on the Bangladeshis," the National Committee Member of Travel Agents Federation of India (East India), Anil Punjab

Cheap Venezuelan oil to India turns costlier as traders eat into margins

Early this year, when sanctions were briefly lifted, state-run Venezuelan oil company PDVSA sold Venezuelan export benchmark Merey grade at a $20 per barrel discount to European benchmark Brent

Delhi's traders face 20% loss as pollution, curbs deter consumers: Cait

Cait Secretary General Khandelwal urges govt to involve trade associations in policy-making, adopt electric trucks for logistics, and offer financial support to businesses

India equity option traders hunt for new playgrounds as tighter rules loom

However, traders are not expected to have a smooth transition from options trading to other segments

Rupee hovers near 84 against dollar on dip in peers, tepid local equities

Meanwhile, inflows related to Hyundai Motor India's IPO undershot market expectations, with traders pointing to muted overnight dollar-rupee swap rates that signalled muted inflows

Rajasthan traders flag land, transportation issues ahead of investor summit

The state government said it had, till October 1, received memoranda of understanding (MoUs) committing investments worth around Rs 12.55 trillion

'Conflict escalation in West Asia likely to push logistics cost up'

The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters' working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon. The Federation of Indian Export Organisations (FIEO) said the Iran-Israel conflict has the potential to significantly impact world trade and the global economy in several ways. "Iran is a key player in the oil market. Any escalation in conflict could disrupt oil supplies, leading to higher prices, which would impact global economies, especially those reliant on oil imports. Oil prices have already moved up by USD 4 per barrel," FIEO DG Ajay Sahai said. Expressing concerns,

Centre lifts ban on export of non-basmati white rice, traders hail move

The Centre lifted the ban on the export of non-basmati white rice on Friday with immediate effect, according to a notification. In July 2023, the government imposed the ban to ensure the domestic supply of rice and keep prices under control. Exporters hailed the decision, dubbing it a "game-changer" for the sector. "India's bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector," said Rice Villa CEO Suraj Agarwal. "This strategic move will not only boost the income of exporters but also empower farmers, who can expect higher returns with the impending arrival of the new kharif crop," he said. The government has also reduced the export duty on parboiled rice to 10 per cent from 20 per cent, the notification said. Another rice exporter, Keshab Kr Halder of Halder Group who was seeking immediate removal of the ban lauded the government's move.

Committed to engaging constructively with workers union: Starbucks CEO

In his Tuesday letter, Niccol also reiterated his commitment to creating a "great work environment" at the stores, and added that the company "values" direct relations with workers

Pakistan finance minister urges traders to pay taxes to stabilise economy

Pakistan Finance Minister Muhammad Aurangzeb on Tuesday requested traders to pay their share of taxes to increase revenue collection and stabilise the cash-strapped country's economy on a long-term basis. Aurangzeb was addressing a press conference in Islamabad, days after the traders held a countrywide strike against the new tax scheme to bring over 3.5 million retailers into the tax net. The traders have refused to accept the Tajir Dost Scheme introduced by the Federal Board of Revenue (FBR), which imposes a fixed tax on traders and wholesalers. Aurangzeb said Pakistan increased its tax revenue by 29 per cent last year, but it was still at 8.8 per cent tax-to-GDP. This is not sustainable at all. No country is sustainable at this level, so we need to increase it to 15 per cent, he said. He said there was no room left to avoid taxes as the current situation, where the salaried class and the manufacturing industry were already contributing more than their fair share, cannot ...

Traders observe daylong strike across Pak to protest rising costs, taxes

Traders in Pakistan went on strike on Wednesday, shutting down their businesses in all major cities and urban areas to protest a rise in electricity costs and new taxes imposed on shop owners. The government of Prime Minister Shehbaz Sharif has steadily raised electricity prices since Pakistan last month struck a deal with the International Monetary Fund for a new USD 7 billion loan. The higher cost of living and price hikes have triggered widespread discontent and drawn protests. Most of the public markets across Pakistan were closed on Wednesday, though pharmacies and grocery stores selling basic food items remained open. Kashif Chaudhry, a strike leader, said those were not closed so as not to inconvenience the general public. Stores were shuttered in the Pakistani capital of Islamabad, the nearby garrison city of Rawalpindi, as well as in the city of Lahore, the country's culture capital, and the main economic hub of Karachi. The strike was called by Naeem-ur-Rehman who heads t

7 in 10 intraday traders in equity cash suffered losses in FY23: Sebi study

A study by market regulator Sebi showed that 7 out of 10 individual intra-day traders in the equity cash segment made losses in the financial year 2022-23. At the same time, the study highlighted a sharp surge of over 300 per cent in the number of individuals participating in intraday trading in the equity cash segment in 2022-23 compared to 2018-19. Interestingly, the average number of trades by loss-makers was higher than the profit-makers. Further, the share of young intra-day traders, with less than 30 years of age, has risen significantly over the period, according to the study released by Sebi on Wednesday. The markets regulator has conducted a study to analyse the trends in participation and profits and losses in intraday trading by individuals in the equity cash segment. It covered the periods of FY2018-19, FY2021-22 and FY2022-23 to comparatively analyse the trends before and after the pandemic. The study, based on a sample of individual clients of the top-10 stock brokers

Pre-budget meet: Trade bodies call for tax deduction, investment on R&D

They also sought simplification of transfer pricing regime and tweaking of Customs duty on certain products

Ocean freight rates in rough waters on congestion, Red Sea crisis

The Drewry World Container Index (WCI) increased 2 per cent to $4,801 per 40ft container this week and increased 202 per cent when compared with the same week last year

RBI likely intervened in NDF to stop rupee from hitting record low: Traders

The rupee was at 83.5525 to the US dollar, only marginally away from the 83.5750 all-time low it hit in April

Traders demand resumption of border trade with China through Lipulekh pass

Indian traders involved in border trade with China through the Lipulekh pass in Pithoragarh district since 1992, have requested the central government to take up the issue of resumption of border trade through this route with Beijing. The trade route was closed rather suddenly after the outbreak of the Covid-19 pandemic in 2019, forcing Indian traders to return from the Taklakot mart in Tibet leaving behind their woollen products. Five years have passed but the route has not been opened, an organisation of border traders in Dharchula said. The traders who belong to the Bhotia tribe started to raise their demand for reopening of the trade route through Lipulekh after China recently began the process of implementing a pact, in which it had agreed to open all 14 trade passes with Nepal. The implementation of the agreement inked by China and Nepal in December, 2022 began on May 25 this year, when China opened Piangi pass situated in Dolpa district of eastern Nepal, president of Bharat

Brokers impose higher trading margins to withstand election volatility

India's benchmark equity indexes hit record highs on Monday after exit polls over the weekend predicted a landslide victory for PM Modi

Indian bond yields flat as traders eye next move to infuse cash in system

The government has bought back securities aggregating to only around Rs 17,900 crore ($2.15 billion), against notified quantum of Rs 1.60 trillion in May

Rupee stable; oil firms' dollar buys, 'nervous' equities cap upside

Traders expect the central bank's interventions will keep sharp declines in the rupee at bay

Traders complain of glitch in NSE system; Mkts gain for 5th session

IPO of heating equ­ip­ment maker JNK India received 28.07 times subscription on the closing day of bidding