Tag: USA

Fiberweb India wins export orders worth Rs 121 mn from USA

09/05/2017 16:03

Textile maker Fiberweb India Ltd on Tuesday said it has bagged export orders worth Rs 121 million from USA.

In a filing to the Bombay Stock Exchange, the company said, “Company bags very prestigious export orders for INRs 121 millions.”

The company has been able to procure these order for converted products with good profitability.

The company produce spun bond non woven fabric (technical textile) and its various converted products.

Meanwhile, shares of the company closed at Rs 339.30 apiece, down 1.29 per cent, from previous close on BSE.

Yellow metal in reverse gear

18/04/2017 13:03

Gold futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as investors braced for riskier assets after dollar bounced back from a 5-month low after the US Treasury Secretary’s comments supported a stronger currency.

Although, escalating tensions over North Korea, restricted further fall in prices of yellow metal.

At the MCX, gold futures for June 2017 contract is trading at Rs 29315 per 10 grams, down by 0.39 per cent, after opening at Rs 29401, against a previous close of Rs 29430. It touched the intra-day low of Rs 29278 (at 12:53 hours).

Glemark Pharma bags approval for Tretinoin Capsules

27/12/2016 09:57

Glenmark Pharmaceuticals Inc.,USA has been granted final approval by the United States Food & Drug Administration(U.S.FDA) for Tretinoin Capsules,10mg,the generic version of Vesanoid Capsules,10mg,of Hoffmann La Roche,Inc.(which is no longer being marketed in United States).

According to IMS Health sales data for the 12 month period ending October 2016,the Vesanoid Capsules,10 mg market achieved annual sales of approximately USD 22.0 million.

Glenmark’s current portfolio consists of 112 products authorized for distribution in the U.S.marktplace and 63 pending approval with the U.S.FDA.

Meanwhile, shares of the company were trading at Rs 893 apiece, up 0.44 per cent from the previous close at 10:00 hours on BSE.

Ramco Systems USA arm bags order for Ramco ERP

28/11/2016 13:43

Software products & services provider Ramco Systems Ltd on Monday said that it’s US-based subsidiary, Ramco Systems Corporation, has bagged an order for its Ramco ERP from G&D Integrated Administration LLC.

“The company’s subsidiary, Ramco Systems Corporation., USA, has secured an order from G&D Integrated Administration LLC, Morton IL, USA for Ramco ERP,” Ramco Systems Ltd said in a filing to the Bombay Stock Exchange on November 28, 2016.

However, the company did not disclose the transaction amount.

Meanwhile, shares of the company were trading at Rs 318 apiece, up 1.16 per cent, from previous close on BSE at 13:46 hours.

Natural Gas rises on improved US demand outlook

Natural Gas rises on improved US demand outlook

08/06/2016 13:53

Natural Gas futures advanced during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity amid speculation that above-normal temperatures across most parts of the US in the next two weeks may boost gas-fired cooling demand as air conditioning use arises.

About 50 per cent of US households use natural gas for cooling purposes.

At the MCX, Natural gas futures, for the June 2016 contract, is trading at Rs 166.5 per kg, up by 0.85 per cent, after opening at Rs 166, against a previous close of Rs 165.1. It touched an intra-day high of Rs 167.3. (At 13:42 PM).

Maize ends higher by 0.09% as demand picks up

Maize ends higher by 0.09% as demand picks up

03/06/2016 09:46

Maize prices closed higher by 0.88 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for June 2016 contract closed at Rs. 1,375 per quintal, up by 0.88 per cent, after opening at Rs. 1,374 against the previous closing price of Rs. 1,363. It touched the intra-day high of Rs. 1,376.

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

India in 6th place among top 10 global manufacturers

India in 6th place among top 10 global manufacturers

04/04/2016 00:54

According to a report by United Nations Industrial Development Organization (UNIDO), India has occupied sixth place in a ranking of the world’s top ten manufacturing economics which is topped by Asian powerhouse China.

Previously, India was ranked as the ninth largest manufacturer in the world.

Data from UNIDO’s Yearbook shows that the Manufacturing Value Added (MVA) in India climbed by 7.6 per cent in 2015, compared to the previous year.

“India is now the sixth largest manufacturer in the world”, the UNIDO report said.

The quarterly index of industrial production (IIP) for Asia’s third biggest economy showed that manufacturing output climbed by 1 per cent in the fourth quarter of 2015 compared to the same period a year ago.

Meanwhile, global manufacturing growth slowed to 2.8 per cent in 2015 reflective of a weakening world economy.

“This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies”, the report added.

After China, which is the world’s biggest manufacturer, the US, Japan, Germany and Korea are ranked second, third, fourth and fifth on the list of the largest global manufacturing countries, with Indonesia in tenth place.

In a bid to bolster India’s manufacturing prowess, the NDA government in 2014 unveiled its flagship ‘Make in India’ program to help make India a global manufacturing and investment hub by easing rules of doing business in the country including accelerating key structural reforms.

TCS recognized as top employer in US for 2nd consecutive yr

TCS recognized as top employer in US for 2nd consecutive yr

11/03/2016 12:57

Tata Consultancy Services (TCS), a leading global IT services firm has said that it has been recognized as a Top Employer in the United States for the second consecutive year by the Top Employers Institute, an independent organization that certifies employers around the world for excellence in creating a total work environment for their employees.

“The Top Employers certification is awarded to a select group of employers who demonstrate forward-thinking HR practices, exceptional employee offerings and an employee environment that promotes personal and professional development,” the company said in a filing to the Bombay Stock Exchange.

TCS was recognized as an exceptional performer across nine categories — Talent Strategy, Workforce Planning, On-Boarding, Learning & Development, Performance Management, Leadership Development, Career and Succession Management, Compensation and Benefits, and Culture.

This accolade in the United States represents one of 24 countries across the world – and in four continents – where TCS has earned a Top Employer certification in 2016. One in only eight global organizations has earned such global recognition.

Meanwhile, shares of the company were trading at Rs 2379.15 apiece, up 1.33 per cent from the previous close at 12:55 hours on BSE.

Indian registers 252.3 pct growth in tourists arrival on E-Tourist Visa

Indian registers 252.3 pct growth in tourists arrival on E-Tourist Visa

15/02/2016 16:56

A total of 88,162 tourists arrived in January 2016 on e-Tourist Visa as compared to 25,023 during the month of January, 2015, registering a growth of 252.3 per cent, a government data showed on Monday.

Commencing from 27th November 2014, e-Tourist Visa facility is presently available for citizens of 113 countries arriving at 16 Airports in India.

“This high growth may be attributed to introduction of e-Tourist Visa for 113 countries as against the earlier coverage of 43 countries,” ministry of tourism said in a statement.

UK (25.37%) continues to occupy top slot followed by USA (15.17%) and Russian (9.58%) amongst the countries availing E-Tourist visa facility.

What Lies In Store for the Global Economy In 2016

What Lies In Store for the Global Economy In 2016

Every New Year brings with it various economic events which tend to catch people by surprise. No matter how carefully you consider the data presented, it is not always possible to make an accurate prediction. For example, there weren’t many people who foresaw the slump in oil prices that began in the 2014 summer. Neither were they able to predict the sharp fall of the Chinese economic growth.


However, there are still other events that you can make a reasonable prediction based on careful consideration of economic data. As such, here are a few economic trends that might come to the fore in 2016 and thereby shape global economy.


The State of the Chinese Economy

For the last few years, China kept stunning the world with its economic growth rates. Sometimes, they were three times more than what the United States enjoyed. Of course, the capital investment directed by the government had a major role to play in this matter. When the global financial crisis stuck, China remained more or less unfazed thanks to the huge boost provided by the government

Unfortunately, most of this investment was made possible by growing the debt instead of profits. Now, China will have to shift the wealth from the powerful to the common Chinese household. Suffice to say, that will neither be politically easy nor fast. This trend is likely to be a recurring theme in 2016 and more.


The American Economy will affect the Global Economy

It may come as a surprise to many but it is a fact that the performance of the US economy is currently the best in its class. After all, the rest of the developed world is experiencing a slower growth compared to America, especially with the decline that China is experiencing.

More importantly, the largest trade deficit in the world currently belongs to the United States. In other words, the other major economies in the world such as China, Japan and Germany are depending on the demand in the United States in order for their economies to experience growth. This situation is likely to continue through 2016 where the global economy leans on the consumer in America.


The Indian Economy Can Experience Major Growth

The International Monetary Fund believes that the Indian economy is poised to grow at a rate of 7.3% in 2016. That will be faster than even what the Chinese can muster up with the inflated numbers produced by its government. It is likely that 2016 will become a turning point. India may not be as technologically advanced as China but it may turn out to become the fastest growing economic in the large sector.

India has also been affected by the same issues that have slowed down economies in other emerging markets. However, demographics have proven to be India’s advantage. In the coming decade, the Indian workforce may grow up to be bigger than even the Chinese.


Of course, nothing can be said to be certain about the future of the global economy. Europe might end up on the edge of an economic crisis, for example. One can only hope for the best.