LIBOR to be phased out by 2021!
By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...
Anti-dumping duty to continue on Pentaerythritol imports from China
The Dollar Business Bureau Directorate General of Anti-Dumping & Allied Duties (DGAD), in its sunset review, has recommended the continuation of imposition of anti-dumping duty on pentaerythritol imports from China. “The Authority recommends that the revised and continuation of anti-dumping duties be imposed from the date of issue of notification by the Central Government on all imports of Pentaerythritol falling under chapter 29 of Custom Tariff Classification Act 1975, originating in or exported from China PR,” the DGAD said in a notification (F.No.15/01/2016-DGAD) on Friday. “After examining and analysing the facts and figures concerning injury to the domestic industry, the Authority concludes that despite the presence of anti-dumping duties, imports from China are entering at dumped prices,” the notification added. Pentaerythritol is an organic ...
Areca nuts: Hike in minimum import price to raise domestic demand
Sai Nikesh | The Dollar Business In a move to contain inbound shipments of Arecanuts, the Department of Commerce, Government of India, has decided to increase the Minimum Import Price (MIP) on import of Areca nuts from existing Rs 110/- per kg to Rs 162/- per kg with immediate effect. The government’s decision was taken on account of unabated imports of Areca nuts from countries such as Indonesia and Myanmar that are taking advantage of low import duty provided to them under South Asian Free Trade Area (SAFTA). Further to prevent entry of inferior quality of the commodity into Indian market that would de-stabilize the domestic prices, the Food Safety and Standards Authority of India (FSSAI) has also directed its officials to ...
