Search Result for : Services

The Dollar Business Bureau  The growth of China’s services sector was marginally low in the month of July as the expansion of new businesses eased, said a private business survey on Thursday.  The latest findings were in sync with an official estimate of non-manufacturing sector released on Monday that showed cooling down of growth in services sector, adding to the speculations that the world’s second largest economy could grow slightly slower in upcoming months.  The Caixin/Markit services purchasing managers' index (PMI) declined a little to 51.5 in July compared to 51.6 in the previous month.  Though the decline was marginal, the figures matched with the level of reading in April this year that was lowest since May last year.  New businesses continued to grow at ...

The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau  The Nikkei India Services Purchasing Managers’ Index (PMI) which tracks the services sector output monthly, said that India’s services sector activity increased at the fastest pace in May 2017. This is because of the increased work orders that prompted companies to employ more workforce to handle the workloads. PMI said the Index rose to 52.2 in May compared to 50.2 in April. Although the job growth rate was moderate, it was fastest in almost 4 years. The author of the report, Pollyana De Lima commenting on it said, “The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though ...

The Dollar Business Bureau  The Nikkei India Services Purchasing Managers’ Index (PMI) which tracks the services sector output monthly, said that India’s services sector activity increased at the fastest pace in May 2017. This is because of the increased work orders that prompted companies to employ more workforce to handle the workloads. PMI said the Index rose to 52.2 in May compared to 50.2 in April. Although the job growth rate was moderate, it was fastest in almost 4 years. The author of the report, Pollyana De Lima commenting on it said, “The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though ...

The Dollar Business Bureau Terming the rollout of GST as an important achievement, Asian Development Bank President, Takehiko Nakao, who was on a 3-day visit to India termed the roll-out of the GST as an important achievement for this government. But added that this achievement is not without its flaws. He was appreciative of the government’s determination to push forward with reforms, but wanted the government to put more energy into ‘labour’, ‘land acquisition laws’ and FDI so that Indian economy can grow faster than that of China’s.  Speaking to the media about his views on the rollout of the GST he said, ‘it is difficult to gauge the impact of GST on the economy until it is implemented but the best thing ...

The Dollar Business Bureau Terming the rollout of GST as an important achievement, Asian Development Bank President, Takehiko Nakao, who was on a 3-day visit to India termed the roll-out of the GST as an important achievement for this government. But added that this achievement is not without its flaws. He was appreciative of the government’s determination to push forward with reforms, but wanted the government to put more energy into ‘labour’, ‘land acquisition laws’ and FDI so that Indian economy can grow faster than that of China’s.  Speaking to the media about his views on the rollout of the GST he said, ‘it is difficult to gauge the impact of GST on the economy until it is implemented but the best thing ...

The Dollar Business Bureau The US President urged the Indian Prime Minister to relax the trade barriers in order to reduce their trade deficit. Speaking to the media at the historic Rose Gardens in the White House both the leaders appeared to be at ease with one another and read out statements that portrayed the importance of a  strong US-India relationship. Watched by the world media, both the leaders stressed the strong commitment being made towards bilateral relations.  Prime Minister Modi said, “I deeply appreciate your strong commitment to the enhancement of our bilateral relations. I am sure that under your leadership a mutually beneficial strategic partnership will gain new strength, new positivity, and will reach new heights."  President Trump during his address made it ...

The Dollar Business Bureau The Goods and Services Tax (GST) will have adverse impact on the oil and gas sector as it will have to conform to the current tax regime as well as to GST, the ICRA-ASSOCHAM report said. The GST regime is expected to be rolled out from July 1, 2017. The next meet of GST Council is to be held on June 18, in which it will decide upon the lottery tax and e-way bill. “The oil and gas industry would have to comply with both the current tax regime as well as the GST regime leading to double compliance cost because five petroleum products viz crude oil, natural gas, motor spirit, high-speed diesel and aviation turbine fuel have been excluded from the GST, while other ...