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India’s manufacturing conditions improves for Fourth Straight Month In April : PMI

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Mumbai, May 2 : According to a key macro-economic data,  manufacturing conditions of India  improved for the fourth straight month in April due to good domestic demand conditions and increase in new export orders.

The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), which is a composite indicator of manufacturing performance during April 2017, matched the index reading of 52.5 reported in March 2017.

An index reading of above 50 indicates an overall increase in economic activity, and below 50 an overall decrease.

“Buoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total new business received by Indian manufacturers in April,” said Pollyanna De Lima, economist at IHS Markit and author of the report.

“Having recovered at the beginning of the year from December’s demonetisation-related contraction, growth of order books has gathered pace in each month since.”

The report pointed out the “upturn in order books” was the most pronounced since last October.

“New export orders rose for the third month in a row, but the rate of expansion eased from March and was slight overall,” the report read.

“Concurrently, output grew solidly, though growth softened slightly since the preceding survey period.”

The report highlighted that the quantity of raw materials and semi-finished goods purchased by Indian manufacturers rose in April, in line with the trend recorded throughout the past four months.

“Purchasing costs increased for the nineteenth consecutive month in April, with panellists reporting higher prices paid for metals, chemicals and plastics,” the report said.

“The rate of cost inflation gathered pace since March and was above the average recorded over the current sequence of rises.”

In contrast, less than 5 per cent of manufacturers raised their output prices in April, while almost 93 per cent signalled no change.

“Where selling prices were raised, there were reports of the passing on of higher cost burdens to clients. Firms that reduced charges mentioned attempts to win new customers,” the statement said.

Besides, the report revealed that goods producers were “most optimistic” since last November, with capacity expansion plans, new product developments, greater advertising and favourable market conditions expected to underpin output growth in the year ahead.

“The outlook appears encouraging too, with output expected to remain on an upward trajectory amid reports of planned capacity expansions, new product launches, aggressive marketing campaigns and an improving economic scenario,” De Lima said.

In addition, the report disclosed that manufacturing jobs rose for the second consecutive month in April, which panellists related to a combination of greater production needs and expectations of a pick up in demand.

IANS

 

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UK bans installation of Huawei 5G telecom gear from Sep 2021

The US Federal Communications Commission (FCC) designated Chinese telecom companies, Huawei and ZTE, as national security risks to America’s communications networks.

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Huawei Technologies

London: The UK government announced on Monday that the Chinese telecom giant Huawei will not be able to install its 5G equipments in the country from September 2021.

The Department for Digital, Culture, Media and Sport said that as per its earlier decision, the UK carriers will no longer be able to install Huawei equipment beginning September 2021.

The UK government has laid out a roadmap for removing all telecoms equipment made by “high risk vendors,” including Huawei, from the country’s 5G network by 2027, reports CNET.

In July this year, the UK government had announced a ban on the purchase of new Huawei kits for 5G from next year and said that the Chinese telecom giant’s equipment will be completely removed from 5G networks by the end of 2027.

The telecoms operators have seven years to remove its existing technology from their 5G infrastructure at an expected cost of 2 billion pounds.

The decision came following new advice produced by the National Cyber Security Centre (NCSC) on the impact of US sanctions against the telecommunications vendor.

The US Federal Communications Commission (FCC) designated Chinese telecom companies, Huawei and ZTE, as national security risks to America’s communications networks.

In a U-turn, the UK government that earlier allowed Huawei to sell its 5G technology in the country, signalled a tougher stand against the Chinese telecom giant.

Huawei called the decision “bad news for anyone in the UK with a mobile phone”.

Struggling to keep its consumer business afloat in the wake of the US sanctions, Huawei this month announced to sell off its Honor smartphone business assets to China-based Shenzhen Zhixin New Information Technology Co Ltd.

The company said that the sale — which could be around $15 billion according to multiple reports — will help Honor’s channel sellers and suppliers make it through this difficult time.

Honor smartphones have been hit by US sanctions that prevent Huawei from doing business with the US companies.

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Amazon Quiz Answers, November 30 2020: Answer and win Rs 15,000 Amazon Pay Balance

Check out the questions and answers for today’s Amazon quiz to bag the Rs 15,000 Amazon Pay Balance.

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Amazon

Amazon India is back with the daily Amazon Quiz where users can answer questions and stand a chance to win exciting prizes. The Amazon Quiz for November 30, 2020 is live now, and the winner will be eligible to win Rs 15,000 Amazon Pay Balance.

Amazon quizzes focus on product trivia and provide the opportunity for customers to win exciting prizes. The prizes for these quizzes range from free products (including mobile phones and other gadgets) and goodies to Amazon Pay balance.

Check out the questions and answers for today’s Amazon quiz to bag the Rs 15,000 Amazon Pay Balance.

Q1: India’s first roll-on roll-off passenger ferry (Ro Pax) service was launched between Hazira and Ghogha in which state?

Answer 1: Gujarat

Q2: Whose record of becoming the year-end World No. 1 for six years, did Novak Djokovic equal in 2020?

Answer 2: Pete Sampras

Q3: King Rama X is the reigning monarch of which country?

Answer 3: Thailand

Q4: Which of these royal titles features in a popular item sold by this company in India?

Answer 4: Maharaja

Q5: Which company gets its name from this great scientist?

Answer 5: Tesla

How to Play the Amazon Quiz?

  • Step 1: This is an Amazon App only offer, so we suggest you download & install the Amazon Android or iOS app from Google Play Store or Apple’s App Store.
  • Step 2: Now open the Amazon App & Sign in into your Amazon Account (Create an account if you do not have an existing Amazon account)
  • Step 3: How to go to the Amazon Quiz? Go to the homepage and scroll down in the Amazon app > Offers > click on Amazon Quiz 8 AM to 12 PM. Another way to go to the Amazon Quiz page is by clicking on the Menu > Programs and Features > FunZone
  • Step 4: Now just click the Amazon Quiz Banner & start the quiz by tapping the “Start” Button
  • Step 5: You have to answer the five questions correctly in the Daily Amazon Quiz in order to be eligible to win exciting prizes
  • Step 6: After answering all of today’s Amazon Quiz questions correctly, you will then be eligible for the Amazon Quiz winners’ lucky draw
  • Step 7: The Amazon Quiz lucky draw winners are announced on the winners list declaration date
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French Amundi threatens to sell-off SBI bonds over proposed Rs 5,000 cr Adani coal mine loan

Protesters were wearing a t-shirt which read slogans such as “#StopAdani”, “Stop Coal” and “#StopAdani”. Several anti-Adani protesters also gathered outside the Sydney Cricket Ground.

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Ind Aus SBI Adani protest

New Delhi: France-based Amundi, which is one of the largest investors in India’s State Bank of India (SBI), threatened to sell off SBI green bonds held by it unless it stops its scheduled Rs 5,000 crore loan to Adani’s Carmichael coal mine in Australia.

“We consider SBI should not finance this project. Ultimately it’s their decision but we’ve been extremely clear on the fact that if they decide to do it, we would immediately disinvest,” Director of the Institutional Corporate Clients Division & ESG, Jean Jacques Barberis, was quoted as saying by a global wire service.

“Financing the mine would be in “total contradiction” to the SBI activities financed through its green bond, he added.

“We have engaged SBI asking them not to participate (in the loan) and now we are waiting for their answer”, he was quoted as saying.

Amundi, which holds the SBI green bonds as part of its Amundi Planet Green Emerging Fund, said it learnt recently that the public lender is slated to fund the controversial coal mine project in Australia.

Adani’s billion-dollar Carmichael coal mine project in Queensland, Australia, has been the centre of many controversies ever since its inception as activists owing to environmental problems posed by it.

The development comes within days of Samsung Securities, the investment arm of South Korean conglomerate, announcement that it won’t back the project after it was targetted by protesters for having links to the coal miner.
Earlier this week, the first One-Day International (ODI) match between India and Australia in Sydney was halted briefly after two protesters appeared on the field holding placards against SBI and Adani Carmichael coal mine project.

Six overs into Australia’s innings, protestors walked to the center of the ground holding placards which read ‘No $1b Adani loan’ signs.

Protesters were wearing a t-shirt which read slogans such as “#StopAdani”, “Stop Coal” and “#StopAdani”. Several anti-Adani protesters also gathered outside the Sydney Cricket Ground.



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