Marginal decline in exports in October

After staying in the positive growth territory for nearly a year, Indian exports during October registered a marginal decline. According to a government press note, in October exports from the country were valued at US$ 23098.18 million as compared to US$ 23360.61million in the same month last year – a decline of 1.12 percent in dollar terms. In Rupee terms, during October 2017 exports were valued at Rs.150325.95 crore as compared to Rs.155926.73 crore during October,2016, registering a decline of 3.59per cent.  However, during April-October 2017-18 exports have exhibited a positive…

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CEVA reports positive momentum in Q3

Global logistics major CEVA has reported positive growth momentum in Q3 of the current financial year. The company has reported revenue growth of 5.4 percent in the third quarter and an operating cash flow of $81 million as against $68 million in the corresponding quarter last year. Xavier Urbain, CEO of CEVA said while announcing the company result early this wee. “We have been able to offset ongoing market volatility in air and ocean freight. Our procurement and pricing strategy has enabled us to protect yields sequentially. Contract logistics continues…

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5 percent half-yearly cargo growth for Emirates

Global aviation major Emirates has reported a commendable 5 percent growth in its cargo operations during the first half of the current year. The airline recently released its half yearly results for 2017-18 and it strongly underlines its cargo operations showing modest growth signs. “The volume of cargo uplifted at 1.3 million tonnes is up 5% while yield improved by 8%. This solid performance speaks to Emirates SkyCargo’s recent investments in products and services tailored to key sectors, and is also a positive sign of a gradual recovery in the global air…

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Alibaba creates history with $25 billion Singles’ Day sales

Chinese e-commerce giant Alibaba created history when it crossed $25 billion sales mark during its Singles’ Day sales event recently. According to an estimate, its total sales stood at $25.3 billion this time which is a significant jump over the last year’s figure of a little less than $18 billion. The company had indulged in aggressive pre-sales day promotion drive this time. There was a glittering launch event with global stars like Nicole Kidman, Pharrell Williams supported by Chinese celebrities like actress Zhang Ziyi. According to a report, the company had…

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DB Schenker opens largest logistics center in Madrid

Global logistics major DB Schenker has opened a mega-scale logistics center in Spain. The size of Madrid’s new logistics center, located in the Vicálvaro district, is equivalent to that of eight football fields. Two warehouses and an office building are distributed across the space. The first warehouse has been enabled as a cross-docking area and occupies 10,170 square meter with the option to expand the space to 12,200 square meter. This area has 112 hydraulic bays for loading and unloading, as well as an area dedicated to the movement of…

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Cash logistics market to register 13.80% CAGR

According to a recently published report by a leading research agency, global cash logistics market is projected to display a robust growth represented by a CAGR of 13.80% during 2017 – 2022.The segment of Cash in Transit has witnessed growth at a noteworthy rate over the past few years and is expected to grow at a higher pace in the forecast period. On the heels of rising cash prevalence particularly in developing countries including China, India,  CIC-GDP ratio and installations of ATMs has been on the rise. Among the regions, North America accounts…

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Government appoints first logistics secretary

In a move that is probably reflective of union government’s serious intent to significantly improve logistics regime in the country, it has appointed a special secretary level official to deal with logistics related issues. According to a report by news agency PTI, senior IAS officer Binoy Kumar took charge as Special Secretary (logistics) in the commerce ministry early this week. This post has been recently created to fill the gap of no single government department being in place to deal with logistics related issues. “Logistics is a key component for…

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Indian logistics sector to grow by 9-10%, says ICRA

With a gradual improvement in most of economic indicators over the past couple of months, the outlook for the logistics companies is positive in the medium term. According to an ICRA note, the Indian logistics industry is expected to grow by 9-10% p.a. over the medium term. While there have been fluctuations in the economy and freight demand due to GST implementation, the impact of the same would be temporary and would be corrected over the near term. Says Shamsher Dewan, Vice President and Sector Head, Corporate Ratings, ICRA, “Our analysis of…

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Dedicated app launched for improvement in coal logistics planning

Piyush Goyal, Union Minister of Railways & Coal recently launched ‘Grahak Sadak Koyla Vitaran App’benefitting customers of Coal India Limited (CIL) lifting coal through road mode. The customer friendly app, launched recently in Kolkata on CIL’s Foundation Day, helps achieve transparency in despatch operations, as a tool to monitor, whether the despatches are made on the fair principle of ‘First in First Out’ and keeps track of all the activities from issuance of Sale Order to physical delivery of coal by road. The main benefits of the App for the…

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Direct tax collections grow by 15.2% up to October

The provisional figures of Direct Tax collections up to October, 2017 show that net collections are at Rs. 4.39 lakh crore which is 15.2% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 44.8% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore).  Gross collections (before adjusting for refunds) have increased by 10.7% to Rs.5.28 lakh crore during April-October, 2017. Refunds amounting to Rs. 89,507 crore have been issued during April, 2017 to October, 2017. Please follow and like us:

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