Royal Enfield to bid nearly $2bn for Ducati India
The Dollar Business Bureau The Royal Enfield’s maker in India, Eicher Motors is bidding $1.8 billion-$2 billion for the Italian motorcycle manufacturer Ducati, according to a Reuters India news on Thursday. This led to the shares of Eicher Motors spiraling to a record high. Eicher Motors is the only Asian company in the auction, finalising the terms with advisers before the bidding deadline at the end of September, the media agency reported. German carmaker Volkswagen(VW) is also considering options for Ducati, including a sale of the brand, wholly controlled by VW's Audi division. But internal rifts and resistance from the German trade unions, have put the company’s plans on hold. It should be recalled that Reuters had reported earlier that Hero Motor Corp ...
Trump administration to launch anti-dumping probe against steel flanges on India and China
The Dollar Business Bureau The US Ministry of Commerce has said it is likely to launch anti-dumping and countervailing duty probe of steel flanges being dumped by India and China into its markets. The Commerce ministry has been petitioned by the Coalition of American Flange Producers and members in its group like Core Pipe Products Inc of Illinois and Maas Flange Corporation of Texas, to consider their petitions filed on August 16 and begin the investigation. The domestic producers allege that the estimated dumping margins ranged between 99.23% to 257.11% for China and 78.49% to 145.25% for Indian steel products and also estimated that products from both the sides were subsidized at undetermined rates. Reiterating his government’s support to defend American businesses and ...
US durable goods shipments increased in June suggesting increase in business spending
The Dollar Business Bureau Key US-made consumer durable goods shipments showed an increase in June for the 5th consecutive month indicating that business spending on equipment has increased boosting the economic growth in the second quarter. That the US economy is bettering gained weight as data gathered showed a sharp narrowing of the trade deficit in goods while there has been an increase in retail and wholesale inventories. Government reports on the second quarter GDP estimates on Friday prompted economists to raise growth forecasts to 3.5% annual rate. Voicing cautioned optimism, Chris Rupkey, the Chief economist at Mitsubishi UFJ Financial Group (MUFG), New York told reporters that, ‘the economy still has legs in this long expansion from the end of the recession. The ...
Lack of progress in US, China trade talks, 100-day action plan nears
The Dollar Business Bureau US and China failed to agree on major new steps to reduce US's trade deficit with China, leading to doubts over the economic and security relationship between the two countries. The annual economic session in Washington dubbed by the Trump administration as US-China Comprehensive Economic Dialogue (CED) ended with both the sides refusing to hold news briefs or joint statements with no news announcements on US market access to China. Though both the sides had open and frank talks, they failed to come to a consensus on major bilateral and economic issues that were important for the US. According to Reuters, US had asked for- major access to China's financial services markets, reduction in China's steel capacity, reduction in auto tarriffs, ...
Trump urges India to reduce obstacles to trade
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 ...
After 100 day mark, Indian envoy sees promise in India-US relations under Trump
The Dollar Business Bureau Former Indian Ambassador to the US, Arun Singh, spoke at length about the progression of India-US ties in the first 100 days of Trump's presidency. With the end of April 2017 marking the 100-day milestone of Trump's reign as the leader of the free world, many have expressed dissatisfaction with his rather capricious style of ruling. Be it Trump reneging on his own words or him lacking the wherewithal to get Congress to pass his reforms, his performance so far has been the subject of much public derision. On the other hand, Indian diplomat Arun Singh, who has seen India-US relations enhance during most of Bush's and Obama's tenure, backs the new US administration and sees much promise in its attitude towards India. “As the engagement of the past hundred days ...
US puts 6 nations on monitoring list for currency practices
PTI The Trump administration has placed six of its major trading partners including China and Japan on a "monitoring list" to keep a close watch on their currency practices. It has placed China, Germany, Japan, Korea, Switzerland and Taiwan in the monitoring list in its six-monthly report to the Congress. "Treasury finds that six major trading partners warrant being placed on the monitoring list for special attention: China, Germany, Japan, Korea, Switzerland and Taiwan," the report said. The US Department of Treasury yesterday concluded that no major trading partner of the US met the Congressional standards for currency manipulation in the second half of 2016. Additionally, US Department of the Treasury established a "monitoring list" of major ...
Will Trump engage in 'tough talk' to extract trade favours from Xi?
The Dollar Business Bureau Even as the world awaits the outcome of the upcoming Trump-Xi meet with much apprehension, Trump's tweets have fanned the flames by giving the whole US-China affair a war-like aura. "The meeting next week with China will be a very difficult one in that we can no longer have massive trade deficits and job losses. American companies must be prepared to look at other alternatives," one of his recent tweets said. In a recent update, US businesses have asked for meaningful action instead of disruptive trade negotiations which may lead to a trade war. Nevertheless, the general sentiment is in favour of a 'tough talk' which will coerce China into giving market access and opening up its economy to ...
