Search Result for : Republic Of China

By Abin Daya The first round of returns filing for GST has happened, and businesses are slowly getting a hang of the processes, and are also understanding the tax better. Much work still needs to be done, and it will take at least two quarters, if not more before we can say that we have become comfortable with it, and it is business as usual again! In the meantime, though, despite a good monsoon, aggregate acreage under cultivation is falling, particularly for food-grains. While the bumper harvest of last year should provide some relief, we will need to do much more to meet our ever-growing demand. The kharif acreage is one of the topics that we deal with this week. Under the same ...

The Dollar Business Bureau  Russia, the world’s largest exporter of wheat, is about to expand its market for grain in the fast-growing Asian economies, which normally import their grain requirements from other parts of the world. Russia is poised to grab more share in markets of Indonesia, China and Japan as drought conditions in countries like Australia, Canada and the US are eroding the wheat production. These countries are the dominant exporters of wheat to Asian countries, accounting for around one-third of the global imports. While wheat shipments from Russia were estimated to surpass those of any other nations, very little is usually shipped to Asia, where wheat imports have nearly doubled in last 10 years as rising incomes pushed up demand for ...

The Dollar Business Bureau  In order to safeguard the domestic industry, the Government has imposed anti-dumping duty on imports of castings for wind operated electricity generators from China.  “In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, after considering the aforesaid final findings of the designated authority, hereby imposes definitive anti-dumping duty on the subject goods,” Finance Ministry said in a notification (no.42/2017-customs - ADD) on Wednesday.  “The Authority has come to the conclusion that the subject goods have been exported to India from the ...

The Dollar Business Bureau On July 18, 2017, India and China jointly submitted a proposal to the World Trade Organisation (WTO) calling for the elimination - by developed countries - of the most trade-distorting form of farm subsidies, known in WTO parlance as Aggregate Measurement of Support (AMS) or ‘Amber Box’ support as a prerequisite   for consideration of other reforms in domestic support negotiations.  This is an important proposal by India and China in view of the ongoing negotiations for the upcoming 11th Ministerial Conference of the WTO to be held in Buenos Aires in December 2017. It counters the efforts by some countries to target the subsidies of the developing countries while letting the developed countries retain their huge farm subsidies.  The ...

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau India is likely to remain the favoured destination for foreign direct investment (FDI) inflows this year despite a stagnant inflow of $44 bn in 2016 the United Nations Conference on Trade and Development (UNCTAD) report detailed. India is favoured by the MNCs for its cross-border merger and acquisitions the report said. The report details that FDI inflows to developing Asia are expected to increase by 15% in 2017, to $515 billion, as an improved economic outlook in major Asian economies is likely to boost investor confidence. In major recipients such as China, India and Indonesia, renewed policy efforts to attract FDI could contribute to an increase of inflows in 2017. The report, however, cautioned that tax-related challenges may pose as ...

The Dollar Business Bureau  To reinforce its control on its currency, China is “considering” a modification in its procedures that would help in bringing more stability to the country’s financial system in near-term. “We were “considering” a change in procedures that would reinforce our control of the renminbi, said Chinese officials. This move by Beijing would probably bring more stability in short-term to the country’s financial system, which has already been the subject of new focus after the credit rating agency Moody’s Investors Service on Wednesday downgraded China’s credit rating on bonds, mentioning its rising debt.  Moody's downgraded the country’s sovereign ratings to A1, stating it believes that the financial strength of the second largest economy of the world would erode in the coming years due ...

The Dollar Business Bureau  To catch up rapidly in development, India is “thinking big and moving big” as the country lags behind its neighbour China, by providing huge opportunities to a nation like the US, a University of Maryland Professor told the American lawmakers.  “India is moving quite quickly in a number of areas as well, again, on renewable energy, which is a kind of golden thread running through this hearing. India is thinking big and moving big,” said Robert Orr, Professor and Dean, University of Maryland, School of Public Policy, at a Congressional hearing.  Replying to a question, he said that India has big goals on wind and solar. The country is not only meeting them but also surpassing them. These areas ...