Around the Globe

Around the Globe

Rural economy, monsoon to boost FMCG

In the next 12 months, consumer goods companies would see a revival, both in volume and margin terms, with an anticipated revival in the rural sector, said a report.

With a few state elections and expected populist budget, the rural sector is anticipated to be prime beneficiary. This, coupled with improving macros and good monsoon after two consecutive droughts, also augur well, said the report on the consumer good sector brought by Edelweiss.

Apple yet to submit a concrete proposal: Prabhu

The commerce and industry ministry is awaiting a concrete proposal from iPhone maker Apple to set up manufacturing unit in India, Union minister Suresh Prabhu said on Monday. “We are waiting for a good proposal from Apple. Please give us a concrete proposal. If the proposal comes, we will examine it. We are always open for that,” Prabhu told reporters here.

Trump Says US Open to North Korea Talks at the Right Time

President Donald Trump said the U.S. was open to joining discussions with South Korea and North Korea at “the appropriate time,” and that he would be willing to speak directly with Kim Jong Un under the right conditions.

“Right now, they’re talking Olympics. It’s a start. It’s a big start,” Trump said at a news conference at Camp David about talks expected Tuesday between South Korea and North Korea. It would be “great for humanity” if something beyond cooperation in next month’s Winter Olympic Games resulted, he said.

Trump’s break with Bannon over book forces GOP to choose sides

US President Donald Trump’s forceful denunciation of his former chief strategist Steve Bannon finalised a divorce that was months in the making and will force a reckoning within the Republican Party.

Candidates, donors and party leaders must now choose sides – between Bannon, the blustery face of far-right populist nationalism, and the president who elevated that ideology to the Oval Office.

Pak replaces dollar with yuan for bilateral trade with China

Strengthening its strategic and now financial relationship with China, Pakistan’s external relations department has taken a monumental decision.

Pakistan’s central bank has allowed the Chinese yuan to be used for bilateral trade and investment activities, a move which could replace the US dollar for transactions in the strategic China Pakistan Economic Corridor (CPEC) projects.

Merkel resumes coalition talks with SPD

German Chancellor Angela Merkel will put her reputation as Europe’s consummate consensus-builder on the line on Wednesday, when she launches a second bid to form a coalition government after weeks of sniping between its would-be partners. Seeking a fourth term in office, Merkel saw her authority weakened in a national election in September, when support for her conservatives was eroded by the far right.

North Korea’s Kim says ‘open to dialogue’ with South Korea, will only use nukes if threatened

Kim Jong Un on Monday warned the United States that he has a “nuclear button” on his desk ready for use if North Korea is threatened, but offered an olive branch to South Korea, saying he was “open to dialogue” with Seoul.

After a year dominated by fiery rhetoric and escalating tensions over North Korea’s nuclear weapons programme, Kim used his televised New Year’s Day speech to declare North Korea “a peace-loving and responsible nuclear power” and call for lower military tensions on the Korean peninsula and improved ties with the South.

35.03 million tonnes rice procured

The government has procured 350.28 lakh tonnes of rice in the current marketing season so far, according to official data.

The rice procurement target for the current season (October-September) has been fixed at 375 lakh tonnes. In the previous year, total rice procurement had surpassed the target at 381.06 lakh tonnes.

Procurement is undertaken by state-run Food Corporation of India (FCI) and state agencies for the central pool to meet the requirement of food security law. Rice is purchased at the minimum support price (MSP).

Job landscape looks lacklustre

The year 2017 was a year of disruption for Indian job landscape, but hiring scenario looks glossy in the new year with likely addition of 2 lakh jobs in the IT (information technology) industry, experts say.

The Indian job market is in a state of flux, thanks to rising adoption of artificial intelligence (AI), and according to experts, upskilling is the only way employees will be able to survive this transitory phase.

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