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FIFA WC 2018 - ESP vs. RUS – for Deaf and Hard of Hearing - International Sign
International Sign Language - FIFA World Cup Russia 2018 1st July 2018 - Spain vs. Russia FIFA will publish short summaries of all 64 World Cup matches in sign language. This is a service especially for the deaf and hard of hearing. This gives some 70 million people who are deaf or hard of hearing around the world the opportunity to see a short summary of the matches in sign language after the final whistle. #WorldCup


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NEW DELHI: Fuel prices are set to rise sharply again after falling or staying stable for a month as international rates have jumped and the rupee weakened. State-owned oil companies have kept rates of petrol and diesel unchanged for six days although global crude oil prices have increased about $3 a barrel during this period.Since June 21, crude oil has gained more than $6 to reach $79.5 a barrel as the United States is seeking stronger compliance of its sanctions against Iran that traders fear could substantially reduce oil supply from the market.The decision of a cartel of key oil-producing countries to raise output by a million barrels per day is seen as insufficient to meet the rising demand, and has aided the recent surge in prices.Crude oil prices have stayed high this year owing to factors such as robust demand, an artificial supply restriction by key oil-producing countries led by Saudi Arabia and Russia, and a sharp drop in Venezuela’s output.A weaker rupee, along with zooming oil prices, has begun to hurt Indian economy and consumers. The rupee last week fell to a record low of more than 69 to a dollar. India’s import bill is set to balloon as the country imports nearly 83% of its crude oil requirement.Since June 26, the price of petrol has been constant at Rs 75.55 and that of diesel at Rs 67.38 a litre in Delhi. Similarly, in Mumbai, the petrol price has been unchanged at Rs 82.94 and that of diesel at Rs 71.49 per litre.State-owned oil companies determine local prices of petrol and diesel using international fuel rates and the currency movements. International prices of petrol and diesel follow the crude oil trajectory, albeit with some lag.The price of petrol in Delhi has fallen Rs 2.88 per litre since May 29. The price of diesel is down Rs 1.93 per litre since May 29, after which prices started declining.Indian Oil Corporation’s website, a key source of pricing information for petrol and diesel prices, has changed the way it publishes fuel prices, making it slightly difficult for people to know fuel rates. It has also stopped publishing historical price data for all previous years.

from The Economic Times https://ift.tt/2tW3p7U

A ‘good and simple tax’ is how Prime Minister Narendra Modi described the goods and services tax (GST). Finance minister Arun Jaitley went one better in his speech when launching it at a specially convened midnight session of Parliament on June 30, 2017: “There will be a check on inflation, tax avoidance will be difficult, rates will be lower compared to earlier, the country’s GDP will benefit, and the extra resources the states and the Centre will get will be used to serve the poor.”In theory, GST was win-win. It subsumed 17 taxes and 23 cesses, ending the cascading of taxes (paying tax on tax) that reduced efficiency and pushed up prices. But none of its proclaimed benefits was expected to flow overnight. Indeed, given the compromises inevitable in pushing through such a landmark reform—especially its ramifications for sub-national tax autonomy in a federal democracy—the benefits could only be expected by and by. Even so, one year down the line, where are we vis-a-vis GST’s promised benefits?But first, a couple of caveats. To begin with, it is impossible to establish a one-to-one relationship between a tax and macro-economic fundamentals like inflation or GDP that are influenced by a host of domestic and global factors.Second, the GST we have today is a patchwork, stitched together by the compulsions of fiscal federalism. It is very much a work-in-progress, and is likely to remain so for some more years before we get to the desired goal of a simpler, more broad-based tax structure. Third, the full impact of the change is likely to be felt over a much longer term.So, how has GST delivered on the promised benefits? Take inflation. Have prices come down? Yes and no. While prices of many goods, especially essentials, have come down post-GST, services are more expensive.However, given the relatively lower weight of services in the consumer price index (CPI), inflation has declined in July 2017-April 2018 relative to the comparable period last year. Though the actual impact will vary across households depending on the share of services in their consumption baskets—since services have a lower share in consumption baskets at lower income levels— GST can be regarded as broadly beneficial on the price front.Improved Tax ComplianceHas tax avoidance decreased? It’s early days yet, but there is reason to believe that, at the very least, tax avoidance has become more difficult. According to the finance ministry, compliance levels have steadily increased and are expected to improve further once the e-way Bill system (introduced from April 1, 2018) stabilises and invoicematching (to be introduced from September 2018) becomes a reality.Increasing formalisation of the economy and linkage between direct and indirect tax return filings (small businesses are required to quote their GST identification numbers in their tax return forms for 2018-19) are also expected to check evasion.Are tax rates lower? Not really. Indeed, the rate on many services has increased compared to the period prior to GST. But as revenues pick up, it should be possible to reduce rates.Remember the initial attempt was to arrive at revenue-neutral rates. But once revenues rise and sectors at present excluded from GST—electricity, real estate, alcohol and petroleum products—are brought into the tax ambit, it should be possible to reduce both tax rates and the number of slabs from the six—0%, 5%, 12%, 18%, 28% and 28% + cess—we have at present.CollectionsHas GST added the promised 2% of GDP? On the contrary. Growth fell in the first year of GST’s implementation. From 7.1% in 2016-17, GDP growth rate fell to 6.7% in 2017-18. However, if one looks at sequential growth, the picture is quite different.Quarter-on-quarter growth picked up to 7.7% in Q4 2017-18. And for the year as a whole, it’s likely to touch 7.4% in 2018-19, though how much of this is attributable to GST is debatable.Has GoI collected more revenue? According to the finance ministry, the total revenue collected under GST between July 2017 and March 2018 was `7.41lakh crore. Collections surpassed the `1 lakh crore mark for the first time in April 2018. And though they declined to `94.02 crore in May 2018, all available indications suggest collections will grow in FY19. Against a monthly average collection of `89, 885 crore in the last fiscal, GoI expects to mop up an average of `1lakh crore this fiscal.Sure, glitches remain. But these are largely in the operational domain and relate to issues such as return filing, invoice matching, reverse charge mechanism and technology. What is clear is that positives outweigh the negatives. So, unlike Malaysia, there is no turning the clock back on GST.True, a year is much too short a period to judge a watershed event like GST’s implementation, much like former Chinese premier Zhou Enlai’s wry comment, “It’s too early to say,” when asked about the impact of the French Revolution.

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NEW DELHI: As India and the US try to find ways to revive the 2+2 dialogue that got delayed due to scheduling issues from Washington, defence deals worth billions are in the pipeline. At least two deals at an advanced stage could see a formal signing in the coming months.The US has been emerged as a major defence supplier to India in the past decade with deals worth over $12 billion already inked, which includes a $ 4.7-billion transactionfor C 17 transport aircraft.Discussions will be taken forward on the estimated $2-billion deal for armed Predator drones in the coming months. The contract is fraught with controversy though given the US insistance on signing foundation agreements on advance and reservations it has on the S 400 air defence system purchase from Russia.Experts are cynical about the future of the deal, given the current US stance on sanctions and sharing of cutting-edge technology with nations like India that are heavily invested in Russian arms.Talks are also to be taken forward on the purchase of Apache attack helicopters for the Indian Army.64819472 The fleet of six attack choppers to augment an earlier purchase for the air force is likely to cost over $ 900 million. However, the complicated process of getting Congressional clearances for the proposal is still pending.Another chopper deal on the anvil is the estimated $ 2-billion contract for 24 new naval multirole helicopters for the Indian Navy under the Foreign Military Sales pact. These desperately needed choppers are to be cleared by the defence ministry shortly.The largest deal that could take place between the two nations is to meet India's need for new generation fighter jets. Taken up under the strategic partnership model, the contract to build 116 new fighters in India has two US contenders - Boeing with the F/A 18 and Lockheed Martin with the F 16. This deal is expected to be upwards of $ 15 billion but will see tough competition from European contenders.The Boeing fighter jet is also one of the two in competition for a naval requirement of carrier borne combat aircraft. The Navy needs 57 of these fighters, with the only competition being from the French Rafale.

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MUMBAI:The signing of the long-due joint venture deal between Tata Steel Europe and Germany’s Thyssenkrupp will spell relief for Tata Steel in India, with debt close to Rs20,000 crore offloaded to the JV from its books, however, the impending Bhushan Power deal still looms large on its financials.According to definitive agreements signed by the two European steel companies on Saturday, Tata Steel Europe will transfer ¤2.5 billion of its debt to the JV while thyssenkrupp will transfer ¤4 billion, which includes ¤400 million of debt and the remaining unfunded pension liabilities.“The Rs 20,000-crore debt of the JV has no recourse to Tata Steel,” said Koushik Chatterjee, chief financial officer, Tata Steel. This disintegration of debt comes at a time when Tata Steel is undergoing a growth phase and has multiple inorganic expansions lined up apart from its organic expansion at its 3MT plant in Kalinganagar, Odisha. “A major overhang is past, though a bloated balance sheet remains a concern with the impending Bhushan Power and Steel deal,” said Ritesh Shah, lead analyst for materials at Investec Capital Services.64819344 It has recently acquired Bhushan Steel for Rs 35,200 crore and is one of the final two bidders for Bhushan Power & Steel for which it has reportedly bid Rs 17,000 crore. It is also eyeing the speciality steel business of Usha Martin. Tata Steel raised Rs 12,800 crore in March through a rights issue that was one of the largest in the country, for the expansion at Kalinganagar plant from 3 MT to 8 MT. More recently, it had announced in its annual report that it would seek shareholders’ approval to raise Rs 12,000 crore through non-convertible debentures. It’s net debt at the end of March, 2018 stood at Rs 69,215 crore. This has increased 1.6 times after it acquired Bhushan Steel for Rs 35,200 crore.

from The Economic Times https://ift.tt/2MGp77B

MUMBAI:The signing of the long-due joint venture deal between Tata Steel Europe and Germany’s Thyssenkrupp will spell relief for Tata Steel in India, with debt close to Rs20,000 crore offloaded to the JV from its books, however, the impending Bhushan Power deal still looms large on its financials.According to definitive agreements signed by the two European steel companies on Saturday, Tata Steel Europe will transfer ¤2.5 billion of its debt to the JV while thyssenkrupp will transfer ¤4 billion, which includes ¤400 million of debt and the remaining unfunded pension liabilities.“The Rs 20,000-crore debt of the JV has no recourse to Tata Steel,” said Koushik Chatterjee, chief financial officer, Tata Steel. This disintegration of debt comes at a time when Tata Steel is undergoing a growth phase and has multiple inorganic expansions lined up apart from its organic expansion at its 3MT plant in Kalinganagar, Odisha. “A major overhang is past, though a bloated balance sheet remains a concern with the impending Bhushan Power and Steel deal,” said Ritesh Shah, lead analyst for materials at Investec Capital Services.64819344 It has recently acquired Bhushan Steel for Rs 35,200 crore and is one of the final two bidders for Bhushan Power & Steel for which it has reportedly bid Rs 17,000 crore. It is also eyeing the speciality steel business of Usha Martin. Tata Steel raised Rs 12,800 crore in March through a rights issue that was one of the largest in the country, for the expansion at Kalinganagar plant from 3 MT to 8 MT. More recently, it had announced in its annual report that it would seek shareholders’ approval to raise Rs 12,000 crore through non-convertible debentures. It’s net debt at the end of March, 2018 stood at Rs 69,215 crore. This has increased 1.6 times after it acquired Bhushan Steel for Rs 35,200 crore.

from The Economic Times https://ift.tt/2MGp77B

NEW DELHI: Fuel prices are set to rise sharply again after falling or staying stable for a month as international rates have jumped and the rupee weakened. State-owned oil companies have kept rates of petrol and diesel unchanged for six days although global crude oil prices have increased about $3 a barrel during this period.Since June 21, crude oil has gained more than $6 to reach $79.5 a barrel as the United States is seeking stronger compliance of its sanctions against Iran that traders fear could substantially reduce oil supply from the market.The decision of a cartel of key oil-producing countries to raise output by a million barrels per day is seen as insufficient to meet the rising demand, and has aided the recent surge in prices.Crude oil prices have stayed high this year owing to factors such as robust demand, an artificial supply restriction by key oil-producing countries led by Saudi Arabia and Russia, and a sharp drop in Venezuela’s output.A weaker rupee, along with zooming oil prices, has begun to hurt Indian economy and consumers. The rupee last week fell to a record low of more than 69 to a dollar. India’s import bill is set to balloon as the country imports nearly 83% of its crude oil requirement.Since June 26, the price of petrol has been constant at Rs 75.55 and that of diesel at Rs 67.38 a litre in Delhi. Similarly, in Mumbai, the petrol price has been unchanged at Rs 82.94 and that of diesel at Rs 71.49 per litre.State-owned oil companies determine local prices of petrol and diesel using international fuel rates and the currency movements. International prices of petrol and diesel follow the crude oil trajectory, albeit with some lag.The price of petrol in Delhi has fallen Rs 2.88 per litre since May 29. The price of diesel is down Rs 1.93 per litre since May 29, after which prices started declining.Indian Oil Corporation’s website, a key source of pricing information for petrol and diesel prices, has changed the way it publishes fuel prices, making it slightly difficult for people to know fuel rates. It has also stopped publishing historical price data for all previous years.

from The Economic Times https://ift.tt/2tW3p7U