Category Archives: economy

Wheat Posts Thursday Gains

Posted on by
Reply

The wheat complex saw some slight strength across the three markets into Thursday’s close. Chicago SRW futures were fractionally to 3 cents higher on the day in most contracts, with a few deferred contracts down 14 cents. KC HRW contracts were up 12 to 1 ½ cents in the nearbys and steady to 14 cents lower in the back months. MPLS spring wheat posted gains of 1 to 2 ½ cents.

Weekly Export Sales data was released this morning, showing export bookings for wheat at 532,885 MT, up 5.71% from last week and on the higher side of trade estimates, which ranged from 350,000 to 650,000 MT. The top buyer was Mexico with 169,600 MT, followed by South Korea purchasing 86,000 MT, and unknown destinations accounting for 80,500 MT.

In international developments, Russia is proposing a new international grain exchange among the BRICS countries. The plan, unveiled at this week’s summit, is expected to take several years to implement.

On the futures board for December 2024 contracts:
– CBOT Wheat closed at $5.81 ½, up 3 cents
– KCBT Wheat closed at $5.87, up 1 ½ cents
– MGEX Wheat closed at $6.18, up 2 ½ cents

For March 2025 contracts:
– CBOT Wheat closed at $6.00 ¾, up 2 ½ cents
– KCBT Wheat closed at $6.01 ¼, up 1 cent
– MGEX Wheat closed at $6.39 ¾, up 2 ¼ cents

*Disclaimer:* On the date of publication, Austin Schroeder did not hold positions, either directly or indirectly, in any of the securities mentioned in this article. All information and data provided herein are for informational purposes only.

For more information, please view the Barchart Disclosure Policy [here](https://www.barchart.com/disclaimer).

The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
https://www.nasdaq.com/articles/wheat-posts-thursday-gains

PM Modi : AK-203 rifles production starts soon in UP, strengthens Make In India

Posted on by
Reply

“Our armed forces aspire to achieve self-reliance and minimise dependence on external sources. To this end, we are dedicated to developing a robust defence infrastructure within India, with a strong emphasis on ensuring that every component is proudly ‘Made in India’,” said Prime Minister Narendra Modi.

He added that to support this vision, a thriving ecosystem is being fostered, with Uttar Pradesh playing a pivotal role in this initiative. In line with these efforts, the production of AK-203 rifles will soon commence in a factory established with assistance from Russia.

A Defence Corridor is also being developed in Uttar Pradesh, where manufacturing of BrahMos missiles and other weapon systems has already begun, the Prime Minister noted.

The trade show, held under the theme “Ultimate Sourcing Begins Here,” is scheduled from September 25 to 29. It has three core objectives: innovation, integration, and internationalisation. A three-pronged buyer strategy is targeting international buyers, domestic Business-to-Business (B2B) buyers, and domestic Business-to-Consumer (B2C) buyers, providing opportunities for exporters, small businesses, and consumers alike.

UPITS-2025 highlights the state’s diverse craft traditions, modern industries, robust MSMEs, and emerging entrepreneurs, all showcased on a single platform.

PM Modi also highlighted the benefits of the GST reforms, stating that ordinary families will see significant monthly savings. He criticised Congress over its criticism of the GST reform campaign, saying, “To hide their pre-2014 failures, Congress and its allies are lying to the people. We have increased the income and savings of the people of India. We are not going to stop here. As we continue to strengthen our economy, we will continue to reduce taxes. The process of GST reforms will go on continuously.”

In response, Congress pointed out that Narendra Modi had opposed the GST taxation model when he was Chief Minister of Gujarat. Congress leader Jairam Ramesh remarked, “From 2006-2014, for eight years, only one CM opposed the GST, and that CM became the Prime Minister in 2014 and took a U-turn and emerged as a messiah of GST in 2017.”

The BJP responded by saying that the Congress-led government’s rule was marked by “only talks and no work,” accusing the party of resorting to “lies.”

*This story has been sourced from a third-party syndicated feed/ agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.*
https://www.mid-day.com/news/india-news/article/pm-modi–ak203-rifles-production-to-start-in-uttar-pradesh-boosting-make-in-india-defence-drive-23595747

Gold & Silver Retreat from Peaks Amid Federal Reserve’s Rate Cut Uncertainty

Posted on by
Reply

New Delhi: Gold and silver prices pulled back from their record highs in futures trading on Wednesday as traders booked profits at elevated levels, dragging the precious metals lower. Markets were also digesting cautious remarks from US Federal Reserve Chair Jerome Powell regarding the outlook for potential interest rate cuts.

On the Multi Commodity Exchange (MCX), gold futures for October delivery dropped Rs 408, or 0.36%, to Rs 1,13,428 per 10 grams. This came after the metal hit an all-time high of Rs 1,14,179 per 10 grams on Tuesday. Similarly, the December contract for gold fell Rs 353, or 0.31%, to Rs 1,14,486 per 10 grams following a lifetime peak of Rs 1,15,139 per 10 grams.

Silver futures also eased, retreating from their recent highs amid profit-taking. The white metal futures for December delivery slipped Rs 221, or 0.16%, to Rs 1,34,841 per kilogram. The March contract for next year shed Rs 121, or 0.09%, to Rs 1,36,271 per kilogram.

Globally, bullion prices retreated from historic peaks. Gold futures for December delivery traded 0.44% lower at USD 3,799.07 per ounce, after touching a record high of USD 3,824.60 per ounce on Tuesday. Silver futures for December delivery also slipped 0.44%, settling at USD 44.41 per ounce.

Commodities market experts attributed the decline primarily to profit-taking and caution following Federal Reserve Chair Jerome Powell’s remarks. Powell emphasized that there is no “risk-free path” for monetary policy. He warned that cutting rates too aggressively could force the Fed to reverse course if inflation continues, while holding policy restrictive for too long could harm the labor market.

On Tuesday, Powell reiterated a balanced approach to monetary easing, cautioning that cutting rates too quickly might risk leaving “the inflation job unfinished,” whereas delaying easing for too long could unnecessarily weaken the labor market. He added that current policy remains “modestly restrictive,” allowing the Fed some room to respond to changing economic conditions.

Last week, the US central bank lowered its benchmark rate by 25 basis points. Market participants are currently pricing in the likelihood of two additional reductions before the end of the year, a factor that helped cap losses for bullion.

Meanwhile, heightened geopolitical tensions in Eastern Europe and the Middle East supported safe-haven demand, limiting the downside for gold and silver prices, analysts noted.

*Disclaimer: This story is from a syndicated feed. No changes have been made except to the headline.*
https://www.freepressjournal.in/business/gold-silver-retreat-from-peaks-amid-federal-reserves-rate-cut-uncertainty

Rising Rents in Tokyo Drive More Young People Back Home

Posted on by
Reply

According to a 2024 household survey conducted by the Ministry of Internal Affairs and Communications, monthly living expenses excluding rent for single households under 35 were estimated at 136,542 yen. Breaking down these expenses, food costs averaged 40,305 yen, utilities 9,005 yen, medical expenses 8,252 yen, and communication fees 5,730 yen.

When rent is added on top of these expenses, many young people say that living alone has become increasingly difficult. Compared with ten years ago, the survey revealed that the average monthly rent for single households under 35 has risen by about 6,600 yen, while other living expenses have increased by approximately 3,800 yen. Together, these changes have added roughly 10,000 yen to the monthly financial burden.

Real estate appraiser Masanori Taito highlighted that the surge in condominium prices has pushed up rental costs as well, with rents expected to continue rising gradually.

A separate survey by the real estate information service LIFULL HOMES, which polled 1,693 men and women in their 20s from the Tokyo metropolitan area, found that 37.7% live with their parents, 27.7% live alone, and 17.0% live with a partner or children. Smaller shares live with relatives (7.3%), with a partner (7.4%), or with friends (1.1%).

Street interviews suggest that many people in their twenties identify with the nearly 40% who remain living at home. For example, a 23-year-old from Gunma who recently started living alone said most of his peers still live with their parents. Likewise, a 22-year-old woman in Saitama who continues to live at home shared that while she plans to buy a car this year, she has yet to contribute financially to the household but intends to do so in the future. She also acknowledged that sharing a room with her younger brother may reduce her privacy, which could become a disadvantage.

The same LIFULL HOMES survey uncovered the top reasons why young adults choose to stay with their parents. These include the desire to save money, inability to pay rent or living expenses, proximity to the workplace, wanting to spend on hobbies or oshi-katsu (fan activities), the burden of household chores, and parental requests not to move out.

One 24-year-old respondent, Ranmaru Kishitani, said nearly all these reasons applied to him except for parental requests. He spends most weekdays at a shared office but returns home about twice a week for meals and family comfort. He estimates that about 80% of his peers also live with their parents.

The benefits of staying at home include help with chores, reliable meals, lower living costs, and a sense of security. However, drawbacks range from family rules and interference in daily life to difficulties inviting friends or partners over, as well as inconvenient commuting arrangements.

Kishitani added that more young people now view living with their parents not as a failure of independence but rather as a form of cooperation—especially if there is no pressing need to move out.
https://newsonjapan.com/article/146992.php

This week’s round up of telecommunication-related funding calls

Posted on by
Reply

During her annual State of the European Union address on September 10, European Commission President Ursula von der Leyen announced that the Commission will present a Single Market roadmap extending to 2028. This roadmap aims to tackle long-standing barriers in various fields, including telecommunications.

Telecommunications is a strategic sector for Europe’s digital sovereignty, economic competitiveness, and societal resilience. Recognizing this, the EU has already allocated considerable resources to advance research and innovation in this area.

The European Union funds projects related to 5G and 6G networks, AI-driven networks, and quantum communications through programs such as Horizon Europe, Digital Europe, and Eureka clusters.

Here is a list of some current grant opportunities in these fields.
https://sciencebusiness.net/news/r-d-funding/weeks-round-telecommunication-related-funding-calls

India`s GST reforms ignite clash between PM Modi and Congress

Posted on by
Reply

Congress Rajya Sabha MP Pramod Tiwari on Monday took a swipe at Prime Minister Narendra Modi over the latter’s speech on Goods and Services Tax (GST) reforms implementation, suggesting that the PM should have issued an apology to the nation.

Accusing the Narendra Modi government at the centre of “looting” poor and middle-class citizens, Tiwari said that Congress and the opposition had been demanding only a single slab for GST, based on the idea of ‘One Nation, One Tax’.

“The question that needs to be asked is who increased the GST? Who put a burden on the country by increasing it for eight years? You (PM Modi) should have apologised to the nation yesterday. Congress and the Opposition had been demanding only one slab on the basis of ‘one nation, one tax’. However, you looted the poor and middle-class citizens,” Tiwari told ANI.

The Congress MP further attacked PM Modi for asking people to celebrate the GST rate rationalisation as a “festival”, saying that he was the one who imposed GST at midnight.

“Yesterday, the Prime Minister said that this is a festival. He said that we should celebrate because GST has been reduced. You imposed GST at 12:00 in the night in Parliament. You also talked similarly then. The people of this country have paid over Rs 50 lakh crore in GST. The MSMEs have almost shut down,” Tiwari said.

“Now, you (PM Modi) have the courage to ask people to celebrate the ‘Utsav’. Only you could have shown this courage. Your face was telling that your words lacked self-confidence and courage,” he added.

Meanwhile, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said that GST reforms have brought a wave of happiness and celebration among people and can boost the Gross Domestic Product (GDP) of the country by 0.8 per cent. The new GST reforms have come into force from today.

The minister said that the country’s path towards a Viksit Bharat goes through self-reliance.

“Apart from Navratri, the budget utsav has begun. There is a wave of happiness and celebration among people wherever you see. GST rates have been reduced, which will benefit all sections of society. But we are celebrating something else. These reforms can boost the GDP by 0.8%. Our path towards a Viksit Bharat goes through self-reliance. It has been welcomed by all sections of the society,” Puri told ANI.

He said all sections, particularly the lower middle class and economically weaker sections, will benefit because GST rates on various consumption items have been reduced.

He remarked that from the very first day of Navratri, the nation is taking a significant step forward in the Aatmanirbhar Bharat campaign.

The Prime Minister said that implementation of Next Generation GST reforms marks the beginning of a GST Bachat Utsav (Savings Festival) across India. He emphasised that this festival will enhance savings and make it easier for people to purchase their preferred items.

PM Modi noted that the benefits of this savings festival will reach the poor, middle class, neo middle class, youth, farmers, women, shopkeepers, traders, and entrepreneurs alike.

—

*This story has been sourced from a third-party syndicated feed. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.*
https://www.mid-day.com/news/india-news/article/indias-gst-sparks-political-row-as-congress-pramod-tiwari-says-pm-modi-should-have-apologised-23595243

Congress questions on whether GST reduction benefits will be passed to consumers

Posted on by
Reply

He also claimed that “procedural complexities” have not been eased in the reforms despite the fact that it was much needed. Ramesh pointed out that at the very launch of GST in 2017, Rahul Gandhi and the Congress had highlighted the problems and asserted that what was introduced was the “Gabbar Singh Tax.”

The Modi government mocked him and the Congress, ignored the concerns, and brought about no changes. Now, following US President Donald Trump’s imposition of tariffs, they have been forced to improve the tax structure and are celebrating it like a festival. “This government makes an event of everything as their focus is on diverting attention from real issues,” he told PTI.

Taking a swipe at Prime Minister Narendra Modi, Ramesh said that when Modi was the chief minister of Gujarat, he opposed the GST proposal of the then UPA for eight years from 2006 to 2014. “We have been demanding reform of the GST regime since 2017, but the reform that has been carried out eight years too late is limited. The procedural complexities have not been eased, which was much needed. There is also a big question mark on whether the benefits of tax reduction will be passed on to the consumers or not,” Ramesh said.

He asserted that this reform is not the “GST 2.0” that the Congress has been demanding, but at best can be termed “GST 1.5.” The Congress on Sunday accused Modi of taking “sole ownership” of the amendments made to the GST regime and said the current reforms were inadequate, with outstanding issues— including states’ demand for an extension of compensation for another five years—remaining unaddressed.

The opposition party slammed the reforms as “applying a band-aid after inflicting deep wounds” and said the government should apologise to the public for its GST on essential items.

In his address to the nation on Sunday, Modi said a “GST bachat utsav (savings festival)” will begin from the first day of Navratri, and, coupled with the income tax exemption, it will be a “double bonanza” for most people.

Responding to the address, Ramesh said Modi addressed the nation to “claim sole ownership of the amendments made to the GST regime by the GST Council, a constitutional body.”

The Indian National Congress has long argued that the Goods and Services Tax has been a “growth-suppressing tax,” Ramesh said on Sunday.

“It is plagued with a high number of tax brackets, punitive tax rates for items of mass consumption, large-scale evasion and misclassification, costly compliance burdens, and an inverted duty structure (lower tax on output as compared to inputs),” Ramesh stated in a post on X.

“We have been demanding a GST 2.0 since July 2017 itself. This was a key pledge made in our Nyay Patra for the 2024 Lok Sabha Elections,” he added.

Ramesh said the current GST reforms were inadequate, with outstanding issues including widespread concerns of MSMEs, who are major employment generators in the economy. “Apart from major procedural changes, this involves further increasing the thresholds that apply to interstate supplies,” he explained.

He also claimed that there are sectoral issues—for instance, in textiles, tourism, exporters, handicrafts, and agricultural inputs—that must be tackled. States should be incentivised to move towards the introduction of state-level GST to cover electricity, alcohol, petroleum, and real estate as well, the Congress leader said.

“The key demand of the states made in the true spirit of cooperative federalism, namely, the extension of compensation for another five years to fully protect their revenues, remains unaddressed,” Ramesh added.

From kitchen staples to electronics, from medicines and equipment to automobiles, goods and services became cheaper from Monday as the reduced GST rates on several items came into effect from September 22—the first day of Navratri.

The tax regime now assumes a two-tier structure, with the majority of goods and services attracting tax of 5 and 18 per cent, and ultra-luxury items being levied a 40 per cent tax. Tobacco and related products will continue to be in the 28 per cent plus cess category.

Previously, GST was levied in four slabs of 5, 12, 18, and 28 per cent. Besides, a compensation cess is levied on luxury items and demerit or sin goods.

*This story has been sourced from a third-party syndicated feed/agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.*
https://www.mid-day.com/news/india-news/article/congress-questions-on-whether-gst-reduction-benefits-will-be-passed-on-to-consumers-23595236

‘GST Bachat Utsav’ from tomorrow: PM Modi announces price cuts

Posted on by
Reply

**‘GST Bachat Utsav’ from Tomorrow: PM Modi Announces Price Cuts**

*By Snehil Singh | September 21, 2025, 5:20 PM*

Prime Minister Narendra Modi has announced the launch of a “GST Bachat Utsav” starting September 22, describing it as a next-generation reform aimed at transforming the economy. The new Goods and Services Tax (GST) rates, effective from Monday, are designed to reduce the cost of daily essentials and stimulate consumption-driven growth across India.

“This reform is not only about reducing prices but about creating new opportunities,” PM Modi said during his nationwide address on Sunday.

**Economic Impact: GST Reforms to Benefit 99% of Goods**

According to the Prime Minister, the recent GST reforms will benefit 99% of goods, which will now fall under the 5% tax slab. Simplifying the tax structure to mainly two slabs—5% and 18%—will help make common goods more affordable for everyday consumers.

PM Modi emphasized that these changes will not only lower prices but also unlock new avenues for economic growth across multiple sectors, including industry, agriculture, and services.

**Public Focus: Double Bonanza for Poor and Neo-Middle Class**

Highlighting the social impact, the Prime Minister noted that the GST reforms prioritize public welfare, offering a “double bonanza” to the poor and the neo-middle class.

“When the purchasing power of people rises, it benefits every sector—from industry to agriculture to services. This is a reform that will touch every household,” he said.

**Political Response**

Earlier, the Congress party questioned whether PM Modi would address concerns related to former U.S. President Donald Trump’s remarks on India-Pakistan relations and issues concerning H-1B visa holders. However, PM Modi’s address primarily focused on outlining the benefits of the GST cuts and the government’s broader economic roadmap.

The GST rate reductions were initially announced by Finance Minister Nirmala Sitharaman earlier this month, marking the most significant indirect tax reform since July 2017.

—

With these reforms, the government aims to boost consumption, make essential goods more affordable, and spur inclusive economic growth across the country. The “GST Bachat Utsav” celebrations starting tomorrow are expected to bring immediate relief to consumers while supporting India’s growth trajectory in the coming years.
https://www.newsbytesapp.com/news/india/pm-modi-announces-gst-bachat-utsav-from-tomorrow/story

GST effect! TV prices drop up to ₹85,000

Posted on by
Reply

**GST Effect! TV Prices Drop by Up to ₹85,000**

*By Akash Pandey | Sep 21, 2025, 12:22 PM*

In a major development for consumers, television manufacturers have announced price cuts ranging from ₹2,500 to ₹85,000 across various models. This significant reduction comes in response to the recent Goods and Services Tax (GST) cut on TVs, effective from September 22, 2025.

### GST Rate Reduction on TVs

The GST Council recently slashed the tax rate on television sets with screen sizes over 32 inches from 28% to 18%. This move is part of the government’s broader initiative to boost consumption by making electronic goods more affordable.

### How Manufacturers Are Responding

Leading TV brands are promptly passing these savings on to customers by lowering the Maximum Retail Prices (MRP) of their products. Sony, LG, and Panasonic have all announced updated price lists reflecting these GST benefits.

– **LG Electronics India** has reduced prices by ₹2,500 to ₹85,800 on a range of models from 43 inches to 100 inches.

– **Panasonic** has cut prices between ₹3,000 and ₹32,000, with 43-inch TVs now cheaper by ₹3,000 to ₹4,700. Additionally, 55-inch Panasonic models have received price cuts of up to ₹7,000, priced between ₹65,990 and ₹76,990. Their premium 75-inch model now costs ₹3.68 lakh, down from ₹4 lakh.

### What This Means for Consumers

The reduction in GST and corresponding price cuts from manufacturers make now a great time to upgrade your television. With savings as high as ₹85,000 on select models, buyers can expect more affordable rates on a wide variety of TVs.

Stay tuned for more updates on price changes and new product launches from major electronics brands.
https://www.newsbytesapp.com/news/business/tv-manufacturers-slash-prices-on-lower-gst/story

How Trump’s H-1B fee hike could affect US healthcare system

Posted on by
Reply

**How Trump’s H-1B Fee Hike Could Affect the US Healthcare System**
*By Akash Pandey | Sep 20, 2025, 05:03 PM*

The Trump administration has announced a staggering increase in the annual fee for H-1B visas, raising it by $100,000. This move is poised to have severe implications for the US healthcare system, where over 30% of medical residents are international graduates.

Currently, approximately 10,000 out of 43,000 residency spots are occupied by H-1B visa holders. With the visa fee surge—from less than $5,000 to an eye-watering $100,000—many hospitals may find it economically unfeasible to sponsor these visas for medical residents, who earn an average annual salary of around $55,000. This could exacerbate existing staffing shortages and ultimately compromise patient care. As Commerce Secretary Howard Lutnick noted, “No longer will you put trainees on an H-1B visa—it’s just not economic anymore.”

### Visa Costs Surge, Risking Patient Care

The dramatic hike in fees significantly raises costs for employers. It is expected to make the H-1B program viable only for high-value roles, rather than entry-level or trainee positions. Officials have yet to clarify whether the $100,000 fee will be charged upfront or annually. Meanwhile, visa quotas remain unchanged at 65,000 for regular applicants and 20,000 for advanced degree holders. However, the soaring costs are anticipated to cause a sharp decline in applications.

### Impact on Businesses and IT Firms

India remains the largest beneficiary of H-1B visas, accounting for 71% of approvals last year. The fee increase will likely impact IT companies such as Infosys, TCS, and Wipro, which frequently send junior and mid-level engineers to the US for projects.

According to recent data, Amazon leads with 10,044 H-1B visa holders, followed by TCS (5,505), Microsoft (5,189), Meta (5,123), Apple (4,202), Google (4,181), Deloitte (2,353), Infosys (2,004), Wipro (1,523), and Tech Mahindra Americas (951).

### Opposition and Criticism

The policy has drawn sharp criticism from US lawmakers and immigration advocates. Congressman Raja Krishnamoorthi described the fee hike as “reckless,” warning that it risks cutting the US off from high-skilled talent essential for innovation and job creation.

Ajay Bhutoria, a former advisor to President Joe Biden, added that the increase could “crush small businesses and start-ups reliant on diverse talent.” He also cautioned that it might drive skilled workers to Canada or Europe, thereby weakening America’s competitive edge globally.

—

The Trump administration’s hefty H-1B fee increase could thus have far-reaching consequences—not only for the US healthcare system struggling with staff shortages but also for the broader economy and the country’s position as a hub for global talent.
https://www.newsbytesapp.com/news/world/us-healthcare-braces-for-impact-as-trump-hikes-h-1b-fee/story