FCS Global

11/04/2013

FCS Global now Exporting to Europe.
1st Container of Indian Grapes exported on 6th April

02/01/2013

Wish You All A Very Happy & Prosperous New Year 2013...!

28/08/2012

http://www.smetimes.in/smetimes/news/global-business/2012/Aug/25/apple-awarded-usd-1-bn-in-patent-fight-with-samsung890998.html

Apple scored a huge victory as a federal jury in California found rival Samsung guilty of

21/08/2012

Apple becomes most valuable company in history:

US technology giant Apple has become the most valuable public company in history with its market value hitting USD 623 billion in intraday trading eclipsing Microsoft's record of USD 618.9 billion.

Apple's market value Monday topped the record set by Microsoft Dec 30, 1999, at the height of the dotcom bubble, as its stock rose to new high of USD 664.74 per share, CNNMoney reported citing S&P's senior index analyst Howard Silverblatt.

The anticipated September launch of the new iPhone, coupled with rumours of a smaller iPad and a more feature-rich Apple TV have lifted the stock in recent weeks.

It is a stunning achievement for a company that was a struggling also-ran when Microsoft was setting records in the late 1990s, CNNMoney said, noting Apple was valued at less than USD 10 billion as recently as 2004, and at USD 100 billion just three years ago.

Since 2007, however, Apple has been an unstoppable force.

Its iPhone business alone now brings in more money than Microsoft and the iPad has become a multi-billion dollar product for Apple.

Apple is on pace to be the world's largest technology company in terms of sales by the end of the year, and it is among the most profitable companies in the world, CNNMoney said.

In the last three months of 2011, Apple made USD 13 billion -- second only to ExxonMobil's record-setting USD 14.8 billion quarter from the fall of 2008, when oil prices were at an all-time high. Its growth continues unabated with Apple stock soaring 64 percent in 2012.

However, Microsoft still holds the record for most valuable company on the stock market if inflation is taken into account.

In 2012 dollars, Microsoft's all-time high would have amounted to USD 851 billion.

To hit that mark, Apple's stock would have to reach USD 908 per share, CNNMoney said.

18/08/2012

Britain's auto manufacturing posts growth of 20% :

Britain manufactured 129,000 vehicles in July, posting a growth of 20.2 percent year-on-year, according to figures released by the Society of Motor Manufacturers and Traders.

While car manufacturing has increased for 13 consecutive months, engine production dropped 1.9 percent compared to a year ago, down to 180,000 units in July, reported Xinhua.

Some 99,000 vehicles were exported in July, up 13.5 percent year-on-year, including 94,500 cars, up 15.3 percent.

Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, said the latest figures show auto products have enormous global appeal, despite the current uncertainty in Europe.

18/08/2012

China has economically peaked: US expert:

Observing that the Chinese economy had reached its peak, US foreign policy expert Walter Russell Mead Thursday said that the country was on the "brink of a major economic crisis".

"Economically, China has already peaked. It is an economy driven by the manufacturing sector and the country already has a huge margin of over production. Add to it, the lack of internal demand, I think China is on the brink of a major economic crisis," said Mead in Kolkata.

Speaking at an interactive session entitled "Does the future belong to America", Mead said that the US was keen on developing its relationship with China.

He also painted a rosy picture of the American economy saying that the country was sitting on vast reserves of oil and natural gas which will further bolster the country's growth and development.

Talking about his country's policy towards India and China, Mead said: "The United States of America's approach to India and China will be same what was with Japan and Germany post World War II - get rich, succeed and grow. The entire world is open to you including the US markets."

In the city on a two-day visit, he said West Bengal could be the centre of huge economic expansion.

"Looking at the potential of trade with Bangladesh and the northeast states coupled with the opening up of Myanmar, I think (West) Bengal may be on the brink of a new economic transformation. It can be a centre of huge economic transformation," said Mead.

18/08/2012

Singapore's export growth slows in July:

Singapore's non-oil domestic exports (NODX) grew by 5.8 percent year on year in July, following the 6.6 percent increase in the previous month, trade promotion agency International Enterprise Singapore said Friday.

The electronic exports increased by 2 percent, largely due to the rise in exports of telecommunications equipment, integrated circuits and parts of integrated circuits. The non-electronic domestic exports grew by 7.9 percent, thanks to strong growths in exports of specialized machinery, petrochemicals and printed matter, reported Xinhua.

The NODX exports to the US fell by 15.6 percent, while exports to the European Union and Japan fell by 1.5 percent and 7 percent, respectively.

The NODX exports to China expanded by 8.3 percent, compared with a contraction of 3.4 percent in June.

On a month-on-month basis, the NODX fell by 3.6 percent in the month, compared with the expansion of 6.7 percent in June, largely due to the decline in non-electronic NODX outweighing growth in electronic NODX.

Total exports grew by a marginal 0.3 percent in July, compared to a 0.5 percent decline in the previous month. Total trade grew by 2.9 percent in July year on year, following an increase of 2.7 percent in June.

18/08/2012

China expects S100 bn trade volume with India by 2015:

Despite a fall in the volume of India-China bilateral trade for the first half of the current year, China remained upbeat over trade prospects with India with a Chinese diplomat confident of volume expected to clock USD 100 billion by 2015.

"Our trade with India should become worth USD 100 billon by 2015, with growing investment opportunities in both the countries," Consul General in Kolkata Zhang Lizhong said at an interactive session, organised by MCC Chamber of Commerce and Industry in Kolkata on Friday.

The volume of trade between the two countries was USD 73.9 billion in 2011.

India-China trade volume, however, witnessed a four percent slide for the first half of the current year compared with last year, on the back of overall economic slowdown.

"As on June 30, the bilateral trade with India stood at USD 34 billion, which is 4 percent down," said Zhang.

He said there has been a trade imbalance between the two countries in some sectors.

16/08/2012

'Inflation, high interest rates eating into exports'

As Inflation and high interest rates have eaten into the advantage that may have accrued to exporters due to depreciation of rupee, the government needs to press the emergency button for saving Indian exports in a highly depressed European markets and slowing US economy, an ASSOCHAM study said.

"While rupee depreciated by about 25 percent in the last one year, the inflation based on the wholesale price index remained around eight percent. In real terms, the impact of rising price was much more. The situation got further compounded with the export credit staying expensive as the RBI refused to lower the interest rates," the study said.

It is in this context that the government needs to do a reality check along with the exporters and set realistic targets. According to an assessment done by ASSOCHAM, the export target of USD 360 billion for the fiscal 2012-13 is not achievable given the present global economic situation.

"We would be lucky if we are able to reach the level of the previous year at USD 304 billion ," the study pointed out.

It might even decelerate well below USD 300 billion, the study cautioned adding a new realistic target should be set.

For the long term, the strategy earlier devised by the Commerce Ministry to achieve exports of USD 500 billion by the end of 2013-14 should certainly be changed. ASSOCHAM suggested that the exports sector be given maximum incentives if we want to sustain jobs in several labour-oriented sectors like gems and jewellery and handicrafts.

The government should immediately announce incentives for the exports sector. The duty drawback rates should be revised upward and the rate of export credit should be significantly reduced, if we have to even sustain the exports achieved last year, the study said.

Moreover, the government should speed up talks on the Free Trade Agreement with the European Union so that the Indian exporters get duty-free or concessional access to the vast European market, ASSOCHAM President Rajkumar N Dhoot said.

Exports registered a small growth of 3.2 percent in April this fiscal and the situation worsened in May and June. The shipments decelerated by 4.16 percent in May to USD 25.68 billion and by 5.45 percent in June to USD 25 billion.

For the first quarter of April-June, the exports were down by 1.7 percent to USD 75.2 billion dollar, from 76.5 billion dollar in the same period last fiscal.

15/08/2012

Wishing All Indians across the Globe, A Very Happy Independence Day... Jai Hind...!

14/08/2012

http://www.smetimes.in/smetimes/news/global-business/2012/Aug/13/south-korea-trade-terms-worsen890933.html

South Korea's terms of trade worsened in the second quarter due to a drop in export prices stemming from weaker global demand, the central bank said Monday.

14/08/2012

http://www.smetimes.in/smetimes/news/top-stories/2012/Aug/14/india-israel-to-hold-fta-talks-from-tuesday627737.html

In an important step that will scale up their economic ties, India and Israel will hold the fifth round of negotiations over a free trade area (FTA) agreement in New Delhi from Tuesday.