22ND January 2017
The Weekly Business Digest
Markets Weekly
EQUITIES NIFTY 8,349 -0.6 % SENSEX 27,035 -0.8 % S & P 500 2,271 -0.2 % NASDAQ 5,063 + 0.1 % FTSE 7,198 -1.9 % DAX 11,630 + 0.0 % NIKKEI 225 19,138 -0.8 % HANG SENG 22,886 -0.2 % KOSPI 200 266.5 -0.5 %
FX USD 68.18 + 0.0 % EUR 72.50 -0.15 % GBP 83.64 + 0.5 % JPY 0.59 -0.62 % COMMODITIES
BRENT CRUDE ($)
55.49 + 0.1 %
GOLD MCX 29,024 + 0.8 % SILVER MCX 40,983 + 0.7 %
INTEREST RATES
INDIA 10-YR BOND
US 10-YR BOND
6.19 % + 1 bps
2.36 % + 4 bps
STORY OF THE WEEK
Theresa May opts for a hard ( clean ) Brexit Theresa May , the PM of UK , acknowledged that leaving EU would involve trade-offs and that she will pursue “ hard Brexit ”. This would mean Britain would be taken out of EU ’ s single market to allow it to supposedly take control of immigration and escape the shackles imposed by EU . Her promise was directed towards making of a “ Truly Global Britain ”. To read more , click here : Economist
GST rollout deferred to July 1 , 2017 India are likely to roll out Goods and Services Tax ( GST ) from July 1 as the centre and the states reached a consensus over dual control . The consensus was reached after the centre agreed to the demand of states to go in for horizontal split with regard to tax payers based on annual turnover . Tax experts said that the latest developments will help industry prepare for the new regime . To read more , click here : Economic Times
EC yet to decide on Feb 1 as the budget date It is still not confirmed that the Union Budget 2017 will be presented on February 1 , 2017 . Due to the concerns raised by the opposition parties about the conflict of interest with the assembly elections scheduled till March 11 . EC has asked the government to give details of the procedure followed by UPA government to delay the presentation of Union Budget in 2012 . To read more , click here : Livemint
Donald Trump sworn-in as the 45th President of the United States On January 20th , Donald Trump was sworn-in as the 45th President of United States taking over the reins from Barack Obama . In his 16-minute inaugural speech , Trump talked about stopping “ American Carnage ” and obliterating “ radical Islamic terrorism ”. He also mentioned depletion of American military during his predecessor ’ s regime . The US Markets gave a muted response to the speech inaugural address by Trump . To read more , click here : Indian Express | Financial Times
FUN FACTS about Union Budget : Did you know ?
1 1
Independent India ’ s first budget was presented by India ’ s first Finance Minister R . K . Shanmukham , 5pm on Nov 26th , 1947 . The peculiar timing of 5pm was decided as it corresponds to 11:30am as per London , UK time .