Page 2 - Traders

Committed to engaging constructively with workers union: Starbucks CEO

In his Tuesday letter, Niccol also reiterated his commitment to creating a "great work environment" at the stores, and added that the company "values" direct relations with workers

Pakistan finance minister urges traders to pay taxes to stabilise economy

Pakistan Finance Minister Muhammad Aurangzeb on Tuesday requested traders to pay their share of taxes to increase revenue collection and stabilise the cash-strapped country's economy on a long-term basis. Aurangzeb was addressing a press conference in Islamabad, days after the traders held a countrywide strike against the new tax scheme to bring over 3.5 million retailers into the tax net. The traders have refused to accept the Tajir Dost Scheme introduced by the Federal Board of Revenue (FBR), which imposes a fixed tax on traders and wholesalers. Aurangzeb said Pakistan increased its tax revenue by 29 per cent last year, but it was still at 8.8 per cent tax-to-GDP. This is not sustainable at all. No country is sustainable at this level, so we need to increase it to 15 per cent, he said. He said there was no room left to avoid taxes as the current situation, where the salaried class and the manufacturing industry were already contributing more than their fair share, cannot ...

Traders observe daylong strike across Pak to protest rising costs, taxes

Traders in Pakistan went on strike on Wednesday, shutting down their businesses in all major cities and urban areas to protest a rise in electricity costs and new taxes imposed on shop owners. The government of Prime Minister Shehbaz Sharif has steadily raised electricity prices since Pakistan last month struck a deal with the International Monetary Fund for a new USD 7 billion loan. The higher cost of living and price hikes have triggered widespread discontent and drawn protests. Most of the public markets across Pakistan were closed on Wednesday, though pharmacies and grocery stores selling basic food items remained open. Kashif Chaudhry, a strike leader, said those were not closed so as not to inconvenience the general public. Stores were shuttered in the Pakistani capital of Islamabad, the nearby garrison city of Rawalpindi, as well as in the city of Lahore, the country's culture capital, and the main economic hub of Karachi. The strike was called by Naeem-ur-Rehman who heads t

7 in 10 intraday traders in equity cash suffered losses in FY23: Sebi study

A study by market regulator Sebi showed that 7 out of 10 individual intra-day traders in the equity cash segment made losses in the financial year 2022-23. At the same time, the study highlighted a sharp surge of over 300 per cent in the number of individuals participating in intraday trading in the equity cash segment in 2022-23 compared to 2018-19. Interestingly, the average number of trades by loss-makers was higher than the profit-makers. Further, the share of young intra-day traders, with less than 30 years of age, has risen significantly over the period, according to the study released by Sebi on Wednesday. The markets regulator has conducted a study to analyse the trends in participation and profits and losses in intraday trading by individuals in the equity cash segment. It covered the periods of FY2018-19, FY2021-22 and FY2022-23 to comparatively analyse the trends before and after the pandemic. The study, based on a sample of individual clients of the top-10 stock brokers

Pre-budget meet: Trade bodies call for tax deduction, investment on R&D

They also sought simplification of transfer pricing regime and tweaking of Customs duty on certain products

Ocean freight rates in rough waters on congestion, Red Sea crisis

The Drewry World Container Index (WCI) increased 2 per cent to $4,801 per 40ft container this week and increased 202 per cent when compared with the same week last year

RBI likely intervened in NDF to stop rupee from hitting record low: Traders

The rupee was at 83.5525 to the US dollar, only marginally away from the 83.5750 all-time low it hit in April

Traders demand resumption of border trade with China through Lipulekh pass

Indian traders involved in border trade with China through the Lipulekh pass in Pithoragarh district since 1992, have requested the central government to take up the issue of resumption of border trade through this route with Beijing. The trade route was closed rather suddenly after the outbreak of the Covid-19 pandemic in 2019, forcing Indian traders to return from the Taklakot mart in Tibet leaving behind their woollen products. Five years have passed but the route has not been opened, an organisation of border traders in Dharchula said. The traders who belong to the Bhotia tribe started to raise their demand for reopening of the trade route through Lipulekh after China recently began the process of implementing a pact, in which it had agreed to open all 14 trade passes with Nepal. The implementation of the agreement inked by China and Nepal in December, 2022 began on May 25 this year, when China opened Piangi pass situated in Dolpa district of eastern Nepal, president of Bharat

Brokers impose higher trading margins to withstand election volatility

India's benchmark equity indexes hit record highs on Monday after exit polls over the weekend predicted a landslide victory for PM Modi

Indian bond yields flat as traders eye next move to infuse cash in system

The government has bought back securities aggregating to only around Rs 17,900 crore ($2.15 billion), against notified quantum of Rs 1.60 trillion in May

Rupee stable; oil firms' dollar buys, 'nervous' equities cap upside

Traders expect the central bank's interventions will keep sharp declines in the rupee at bay

Traders complain of glitch in NSE system; Mkts gain for 5th session

IPO of heating equ­ip­ment maker JNK India received 28.07 times subscription on the closing day of bidding

Iran-Israel flare-up: Traders, shippers brace for fresh price shocks

Freight costs, war risk premia on marine insurance rise

Fada commences dealer satisfaction study with finance, insurance firms

Automotive dealers' body FADA on Monday said it has commenced a dealer satisfaction study with a focus on finance and insurance firms. The Federation of Automobile Dealers Associations (FADA) will undertake the study at dealerships in association with Singapore-based PremonAsia. The study will look at key factors and attributes impacting the business relationship of dealerships with finance and insurance organisations, FADA said in a statement. It is expected that the results of the study will help finance and insurance companies to design newer products, services and processes to help dealers and end-consumers, it added. "The study will focus on key aspects of the relationship between dealers and finance and insurance companies and therefore, provide a platform to understand the nuances of this relationship," FADA President Manish Raj Singhania said.

Trade bodies urge Rajasthan govt to make changes in investment policies

The MLUPY scheme provides concessional bank loans to facilitate establishment of enterprises in the state and create employment opportunities

AISTA urges govt to extend sugar sale of February quota by two weeks

Trade body AISTA on Tuesday urged the government to extend the deadline of selling sugar of February quota by two weeks in March as millers were not able to sell their monthly allocated quota in the domestic market. At present, the government fixes a monthly quota for the sale of sugar in the domestic market. On average, about 21 lakh tonne quota is fixed for a monthly sale for mills. For the current month, the nodal food ministry has fixed 22 lakh tonnes for the sale of sugar for mills. Mills are required to sell at least 90 per cent of the monthly quota as per the stock holding limit order of the ministry. Speaking to PTI, All India Sugar Trade Association (AISTA) Chairman Praful Vithalani said the association has written a letter to Union Food Secretary Sanjeev Chopra sharing constraints faced by mills in selling the February quota of sugar. He said most sugar mills have not been able to complete their sales quota during the current month and "we have requested the Secretary to

CAIT urge govt to include traders, other stakeholders in talks with farmers

They stressed that any proposed measures would have far-reaching implications, affecting every stakeholder involved in the agricultural supply chain

CAIT members meet FM, demand deferment of I-T Act clause related to MSMEs

Representatives of traders' body CAIT on Wednesday met Finance Minister Nirmala Sitharaman and demanded that implementation of a clause in Income Tax Act related to MSMEs payment rule be deferred by a year to April 2025. In a release, Confederation of All India Traders (CAIT) said a delegation led by its Secretary General Praveen Khandelwal conveyed the traders' concerns to the finance minister and suggested a solution during the meeting. In its memorandum, CAIT welcomed the government's decision, highlighting the significance of ensuring timely payments to the MSME sector within 45 days to maintain uninterrupted cash flow for traders. However, given the "lack of clarity" surrounding the applicability of the law to traders and other related provisions, CAIT called for suspension of implementation of Section 43 (b)h of the Income Tax Act until sufficient clarification and information dissemination are achieved nationwide. "CAIT further appealed to the government to postpone the ...

Overnight index swap rates hint at late start to rate cuts: Traders

India's OIS market has seen 'paying pressure', with the impact being amplified amid unwinding of an earlier 'received position' by a large private bank, according to traders

Brokers, traders differ on proposal to extend derivatives trading: Sebi

Brokers will firm up their opinion on the matter in a couple of months, after which investors will be consulted, Madhabi Puri Buch said at a brokers' forum in Mumbai