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www.thedollarbusiness.com Vol.2 Issue 14 Friday, January 20, 2017 For subscribers only

9.2 (Rs. Lakh CR) New currency has been introduced into the system as told by RBI governor, according to sources.
81.19% Decline in silver imports in December 2016, compared to the same month in 2015, as per Ministry of Commerce, GoI

News update

Deutsche Bank agree to $7.2 bn settlement with US over risky mortgages

Deutsche Bank reached the settlement with the US authorities on Dec 23.

The Dollar Business Bureau

Deutsche's nod represents the largest such resolution for its conduct in misleading investors in residential mortgage-backed securities. This settlement is also higher than the Citigroup’s $7 billion paid to federal and state authorities in 2014.

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Jinping stands against protectionism at World Economic Forum

China does not plan to devalue its currency in order to boost trade

The Dollar Business Bureau

While delivering a speech at the World Economic Forum in Davos, Chinese President Xi Jinping expressed discontent over protectionism followed by other economies and highlighted China’s intention to have a greater global role amidst US trying to become a closed economy.

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Moody's keeps stable outlook for global airline industry

According to IATA, capacity growth will vary across the geographic regions

The Dollar Business Bureau

Moody’s on Tuesday kept its stable outlook on the world’s airline industry, as the credit rating agency expects the decline but still-robust operating margins likely to continue. However, it warned that increasing fuel prices poses headwinds.

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Rolls-Royce let off the hook with heavy penalty of $800 million

The corruption scandal involved dealings in 7countries over three decades.

The Dollar Business Bureau

To avoid further criminal prosecution and settle the enormous corruption scandal, investigation into which has been on for five years now, Rolls-Royce has agreed to pay a penalty of a little over $800 million.

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Zydus Cadila gets USFDA nod for chemotherapy drug

The Gujarat-based company now has over 105 approvals.

The Dollar Business Bureau

Drug making company Zydus Cadila said on Wednesday that it has got approval from the United States health regulator to sell methotrexate tablets, a drug used in chemotherapy, in the US market. “The company has received final approval from the US Food and Drug Administration (USFDA) to market the drug,” Zydus Cadila said.

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India to showcase its economic strength and growth potential at WEF

The WEF, held at Davos annually is the most sought-after gathering of elite

The Dollar Business Bureau

Union Ministers Nitin Gadkari, Nirmala Sitharaman and other government officials including DIPP Secretary Ramesh Abhishek and NITI Aayog CEO Amitabh Kant, and corporate leaders including Mukesh Ambani, Tata Sons Chairman N Chandrasekaran and SBI Chairperson Arundhati Bhattacharya, IT major Infosys' CEO Vishal Sikka, and IT Industry Leader C P Gurnani joined the World Economic Forum in Davos to display India’s economic strength and growth potential

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General Motors, Walmart invest in the new American Dream

Hyundai, General Motors, Walmart to invest. The Trump effect?

The Dollar Business Bureau

Walmart and General Motors, in tandem with the new stance adopted by US Presidency on aggressive job creation in the manufacturing sector, have both announced robust investments and job creation in the USA in 2017.

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Toshiba to sell ‘minority stake’ in chip business to Western Digital

Toshiba is still coping from the $1.3 billion accounting scandal.

The Dollar Business Bureau

“It is correct that we are talking a spin-off of our flash memory business, however, nothing concrete has been decided,” Toshiba said in a statement when the Nikkei business daily reported the company was considering a take sale earlier on Wednesday. The chips business of the company generates most of its operating profit.

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China targets double-digit growth in software, IT service industry

China's information industry reached 17.1 trillion yuan in 2015.

The Dollar Business Bureau

The Ministry of Industry and Information Technology (MIIT) established a goal for 2020, that industry business revenue should exceed 8 trillion yuan (about $1.2 trillion) with average annual growth of more than 13% from 2016 to 2020.

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Circulars & Notifications

Import Policy appended to Notification No.36/2015-2020 Dated 17th January, 2017 | Copy of | Notification No.36/2015-2020 | Read more

pipes & hollow profiles of iron, alloy steel from China PR Notification Sl.5 Dated 12th January, 2017 | Copy of | Notification | Having regard to the Customs Tariff Act 1975, as amended from time to time (hereinafter also referred to as the Act) ... Read more

Import of Point of sale terminal devices Circular No.03/2017 Dated 16th January, 2017 | Copy of | Circular No.03/2017 | The government has vide notification No.35/2016-Central Excise, dated 28.11.2016 exempted excise duty on Point of Sale (PoS) devices and also ... Read more

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