WPI inflation drops to 0.90%, an 8-month low in June
The Dollar Business Bureau Inflation based on Wholesale price index (WPI) fell to 0.90% in June, lowest in eight months as the prices of food commodities and manufactured goods declined. Inflation was 2.17% in May 2017 and (-) 0.09% in June last year, according to the official data released by the Commerce Ministry on Friday. “Build up inflation rate in the financial year so far was -0.44% compared to 3.71% in the corresponding period of the previous year, it said. The prices of major food items such as vegetables, potatoes and pulses witnessed a sharp decline in the month. The prices of potato, pulses and vegetables dropped by 47.32%, 25.47% and 21.16%, respectively. The sharp decline in food items prices last month could be due to the agitation by ...
FICCI hails governments move to give preference to local goods and services
The Dollar Business Bureau The government is seeking to approve a policy that would give preference to local goods and services in public procurement. This move by the government has been hailed by the Industry body FICCI which expressed that domestic manufacturing would get a shot in the arm and at the same time promote the ‘Make in India’ initiative. Speaking to the media, FICCI Secretary General A. Didar Singh said, "This was the long-standing demand of Indian industry and is essential to promote domestic manufacturing growth. This is a legitimate tool under our multilateral commitments and with number of major government initiatives this can be leveraged to promote value addition, create employment and give a much-needed boost to the manufacturing.” The policy ...
Malaysias exports grew 13.6% to $15.76 bn in Jan
The Dollar Business Bureau Malaysia’s exports witnessed a double-digit growth of 13.6% to RM70.24 billion (around $15.76 billion) in the month of January 2017, the highest ever export value in a month ever achieved, Ministry of International Trade and Industry said on Friday. The exports figures surpassed the last high of RM64.05 billion recorded in January 2014. The exports in January grew consecutively for the third month, increasing by its fastest rate in over a year on account of strong demand for manufactured goods and commodities, the government data said. The country’s imports have increased by 16.1% to RM65.53 billion. In January, the country registered a trade balance of RM4.71 billion ($1.05 billion). This is consecutively for the last 231 months that the country had a trade surplus. It ...
S.A minister says India is its gateway to Asian Markets
South Africa is keen to increase its exports of value-added products to India, at the same time explore joint venture deals in investment with Indian IT companies The Dollar Business Bureau Trade between South Africa and India increased from Rand40 billion to 42 billion in 2010-14 India and South Africas history dates back to many generations. The two countries resumed their business ties with the resumption of diplomatic relations in 1993. Since then the two countries have agreed to be associated closely in areas ranging from economic to health, human settlements to education, science and technology. Commercial relations between the two countries have since then flourished. Once the gates of trade resumed, the pace in bilateral trade between the two countries increased ...
