Your Crocs won't be made in
China anymore! As more and more US firms prune outsourcing from China to dodge high tariffs, Vietnam, India, Taiwan and Malaysia are seen as clear beneficiaries. US imports from Vietnam rose 36 per cent on year in the five months till May. But Indian exports are shrinking, in clear signs we may have let that opportunity go abegging.
STREET PULSE: Where we stand  | Nifty futures on Singapore Exchange traded 12 points down at 7 am (IST), signalling a tepid start for Dalal Street. Asian shares inched up as traders awaited US retail sales data and corporate earnings to gauge the health of the economy. Australian shares rose 0.1 per cent but Japan's Nikkei dipped 0.36 per cent. US stocks closed at fresh all-time highs overnight. The Dow rose 0.1 per cent while the Nasdaq climbed 0.2 per cent for new all-time highs. The S&P500 finished little changed in the positive territory. Read More |
| Crude oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry, while Chinese economic data dimmed outlook for crude demand. Brent crude futures slipped 10 cents to $66.38 a barrel while WTI crude fell by 10 cents to $59.48. Read More |
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Where is the Money, Honey!... Investors seeking higher returns than bank fixed deposits can consider investing in Shriram Transport Finance's new NCD. The Tranche 1 of the issue is offering up to 9.7 per cent, with senior citizens getting an additional 25 basis points more. Investment tenures are of 30 months with annual interest payment, and 42, 60 and 84 months, with monthly, annual and cumulative interest payment choices. The issue opens for sale on July 17.
Read More My Tax is Your Tax... Super-rich salary earners may get the burden of extra income-tax surcharge passed on to their companies. A diseuqiet in C-suites over the increase in effective tax rate to 43% for those earning Rs 5 crore and more has raised the possibility of salary reviews for some offset. Some 144 executives of BSE500 companies earning on an average Rs 11.4 crore annually may see salaries go up by one-fourth to ensure that their take-home pay remains intact.
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Global slowdown comes home to hurt
India's exports shrank for the first time in nine months in June as global trade tension hit shipments and the country braced for the impact of the US withdrawing some benefits. Exports shrank 9.71% to $25.01 billion while imports declined 9.06%, narrowing trade deficit to $15.28 billion from $16.6 billion a year ago, government data showed. Exports to China fell by a sharp 14.1%.
Read More The Big Hit... China's economic growth slowed to 6.2% in June quarter, its weakest pace in at least 27 years, as demand faltered in face of US pressure. Analysts expect Beijing to roll out more support measures for the economy in the weeks ahead.
Read More Meanwhile... Suzlon Energy is staring at a default on redemption of its foreign currency convertible bonds worth $172 million, or Rs 1,200 crore, due on Tuesday and has told bondholders they will have to wait until banks accept its proposed one-time settlement plan.
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