Transfin.
HomeNewsGuidesReadsPodcastsTRANSFIN. EOD

    Trump Pushes For "Reciprocal Tax" et al

    Professor of Financial Economics and Part-time Value Investor, Transfin.
    Feb 14, 2018 12:34 PM 1 min read

    End of Day Wrap-up (Wednesday / February 14, 2018) #US #Trump #tax #HarleyDavidson #imports #PNB #WorldBank #cement #Transfin

    Editor's comment: US President Trump pushes for "reciprocal tax", cites the 50% custom duty levied by India on Harley Davidson imports as unfair.

     

    PNB discloses fraud transactions amounting to INR11,000cr in Mumbai branch allegedly by diamond merchant Nirav Modi. 2 employees found complicit. Share price tanks by 10% EOD.

     

    CCI finds 6 cement cos to have formed a cartel in North Eastern India. CCI earlier imposed fines on cement cos and the Cement Industry Body amounting to INR6.7Kcr in 2016 and INR200cr in 2017.

     

    DLF net debt drops to INR5,513cr as it targets to become debt-free by end of FY18-19. Promoters inject upto INR7,100cr.

     

    World Bank says lack of regular salaries jobs (not entrepreneurs) is of 'urgent priority' for India. Says public sector only hires 5% of jobforce. According to data between 2005-2012, over 13m population entered working age while only 3m jobs were created.

     

    Germany questions India's decision to raise customs duty on auto parts (incl. completely knocked down kits which are assembled in India), citing retaliatory action and arguing in favour of negotiating a free trade agreement with the EU instead.