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Date: August 5, 2017

Mahindra and Mahindra standalone net profit declines 20% at Rs 776 crore

Mahindra and Mahindra standalone net profit declines 20% at Rs 776 crore

The impact of the BS-III standard and the transition to the goods and services tax, Mahindra and Mahindra Friday reached analysts’ estimates to show a 20% drop in their autonomous net benefits to Rs 766 crore in the month of Between April and June.

The net profit impacted the amount of Rs 91 million rupees during the quarter due to a provision of Rs 144 million rupees made by the company to support the distributor in relation to the assets of the grantees financed.

“The lack of input credit for certain taxes paid, and the fact that tractors were exempt from excise duty under the previous scheme, the company should ensure minimal impact to customers,” the company said in a statement. Net sales during the period increased slightly by approximately 5% to 11,575.71 crore, while operating margins remained under pressure.
Said EBITDA (earnings before interest, depreciation and tax amortization) of Rs 266.56 crore, almost 2%, while the EBITDA margin contracted 78 basis points to 10.94%.

Speaking to reporters on the conference results, Pawan Goenka, CEO of M & M said: “It was a full quarter of events.

It began with the ban on BS III dropped as a bomb for the automotive industry and was followed by the transition to the GST. However, the industry has achieved these disturbances. ”

The company has a moderate increase in volume of domestic vehicles which has increased by 1.2% for a total of 1.12 lakh, which was made by a product segment increase smart CVL to 43,009 vehicles.

VS Parathasarathy, CFO, M & M said: “The LCV segment of the company grew 20.7% in the first quarter, but it was detrimental in most other segments, particularly in the commercial vehicle (UV) sector. Volumes in the space of agricultural equipment increased by 13.5%, better than the industry.

This has allowed us to reach a market share of 45.8% in the segment, which is the highest proportion of H & M in a single quarter. “With the exception of LCV, all other categories of vehicles experienced a decrease in volume in the quarter.

The biggest drop was recorded in vans and passenger vehicle volumes, which fell by almost 22% to 2,703 units, while commercial vehicle (UV) was reduced by more than 5% to 53 082 units.

However, Goenka said the company is striving to transform its UV activity. “We strive to transform our UV business. Expect a series of new and renewed launches in UV space in the next 6-9 months,” he said.

To recover market share in the UV segment, the company plans to launch an SUV, the coded U321 in the current fiscal year.

Apart from this, the company will also launch a compact SUV (codenamed S201) next year, which will compete with segment favorites, the Maruti Vitara Brezza and Ford Ecosport.

In the future, Goenka said there was no sign of moderate demand. “With more stability, we expect robust growth, especially in the tractor segment, which can grow to about 10 to 12% with an upward bias.

GST impact on food grains: It is win-win-win situation for traders, FCI and Centre

GST impact on food grains: It is win-win-win situation for traders, FCI and Centre

The tax on goods and services (GST) has significantly reduced the country’s grain purchase tax rate, as well as correcting the huge disparity in fiscal consequences among the major grain-producing countries.

The development would reduce the tax burden on Food Food Corporation of India, whose operations are funded by the Center’s grant budget.

In addition, buyers, including private traders now have easier trade with surplus states because of fiscal responsibility is no longer a determining factor in their market decisions. Previously, taxes have played a significant role and have affected the buying preferences of traders.

For example, even if the Punjab was one of the largest producers of wheat and cereals often produced in excess of the amount, private traders procure grain from Uttar Pradesh, where taxes were much lower. These market-distorting fiscal disparities no longer exist in the GST regime.

Although VAT boxes and assortments are integrated with the GST (which is taken to zero in grain purchases), only small samples, such as market, rural development rates and arthia commissions or businesses, are now paid by buyers Of grains.

In Andhra Pradesh, for example, the impact of taxes and other taxes on rice supply is now 3.12%, compared with pre-GST 13.12%.

The southern state, which makes the rice for the stock exchange basins, which is used to impose value added tax (VAT) and the rural development quota of 5% each in the purchase price of grain , Which had been abandoned under the GST.

Similarly, Punjab, taxes on purchases of rice and wheat fell by 14.5% to 6.5%, while for Haryana, taxes decreased by 6.5% compared with 11.5%.

And in Madhya Pradesh, one of the major contributors to wheat stocks in the center, government and private grain purchases increased from 4.32% to 9.32%.

“In addition to VAT, various provisions such as infrastructure and rural development imposed by the state in the purchase of grain governments have been integrated with the GST,” said an official of the FA. The Board decided GST to fully compensate the states for any loss of revenue under the GST in the first five years of operation.

Reducing grain supply taxes would help FCI, which buys about 50-55 million tonnes of wheat and rice per year from major producing countries.

TPI had paid taxes of about Rs.10 trillion annually in recent years and the savings of the GST could be about 7,000 CRORE annually.

A recent publication titled “Obtaining Punjab agriculture, on the path of great growth” by Ashok Gulati, Ranjana Roy and Siraj Hussain noted that the Punjab government was accused of heavy commissions / taxes on the purchase of wheat and rice, or 14.5%, which is much higher than 2% in Gujarat and West Bengal.

“This makes the food industry extremely reluctant to buy their raw materials from Punjab,” the report said.

Trump’s attack on Chinese trade gets sidelined over North Korea

Trump’s attack on Chinese trade gets sidelined over North Korea

The opportunity to strike North Korea with new UN sanctions put in the order of President Donald Trump to punish China for alleged unfair trade practice.

The White House has prepared an announcement on Friday in which Trump planned to urge his government to investigate alleged violations of China’s intellectual property rights and forced technology transfers, said three officials of the administration.

But Thursday afternoon, administration officials have postponed the announcement at the request of the United Nations and the State Department, who are in the final stages sensitive to persuading China to sign a UN resolution imposing new sanctions on North Korea.

Those responsible for U.N. And the State Department warned that the commercial could kill its chances of winning Beijing’s buy-in, authorities said.

“There is a broader discussion of diplomatic considerations,” said an administration official. The official added that the threat of US action in trade has led to a series of separate talks between the United States and the United States. And China on the issue at “high levels” The president was not directly involved.

Another US official said POLITICO that the talks have advanced with the Chinese and the Russians in a resolution on North Korea with the potential for a vote in the Security Council on Saturday.

“The United States circulated a draft resolution among the members of the Security Council,” the US official said. This indicates that China – and Russia – are similar to the agreement with the US. And their allies in the drafting.

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When asked Friday whether the Russians and Chinese are willing, a Security Council diplomat, said: “We have great confidence that they will aboard the present resolution.”

Two administration officials said they still had hopes. Trump will announce commercial action against China, but said the exact time is not clear.


North Korea’s ICBM tests may be a deception tactic to hide a much more capable threat

North Korea’s ICBM tests may be a deception tactic to hide a much more capable threat

North Korea surprised the world by making huge strides in missile technology since launching an intercontinental ballistic missile on July 4, but according to James Kiessling, the mobile road missile can be a deception.

Kiessling, who works in the Office of the Secretary of Defense, gave personal views of Business Insider in North Korea, which does not represent the official position of the Pentagon.

“If you are really concerned about an ICBM to anyone, go back and look at history for what everyone has done for intercontinental ballistic missiles,” said Kiessling. “Every first ICBM liquid is purified.”

Through careful analysis of North Korea’s images and missile launching program statistics, Kiessling found that path and mobile-based missiles showing trucks may not work as expected and may be deliberate distractions from a draft More capable missiles.

In a document for Breaking Defense, Kiessling and his colleague Ralph Savelsberg showed a model of North Korean ballistic missiles and concluded that their small size made it basically useless to reach the United States with a significant load.

History suggests that building a true ICBM liquid fuel that can be transported in a truck has huge, if not insurmountable, problems, designers.

“The United States and the Soviets tried very hard and were never able to achieve a level of miniaturization and robustness that would support a mobile ICBM path,” Kiessling said, referring to the mineralization of warheads needed to integrate missile.

ICBMs using liquid fuel, like North Korea are “very likely to offend or damage the tankage” while being transported in a truck bumpy.

ICBM North Korea intercontinental ballistic missile Hwasong 14 AP_17185312955179
“Although not impossible, it is very difficult and extremely dangerous” to put an ICBM liquid fuel in a truck, according to Kiessling.

Instead, the United States, the Soviets and the Chinese have all created Silo-based missiles because static missiles are more stable and less prone to damage.

But there is no evidence that North Korea built a silo for missile launch, and Kiessling said that this could be due to a massive cheating campaign that could have fooled some of the world’s best missile experts.

Kiessling thinks that North Korea is preparing for a silo-based missile that combines parts of Hwasong-14, the ICBM, with its space launch vehicle, the Fingernail. The Unha and the Hwasong-14 were tested separately and Kiessling said they could be easily combined.

This analysis corresponds to comments by Mike Elleman, a senior missile defense student at the International Institute for Strategic Studies, who told Business Insider that he saw Hwasong-14 as a “tentative capability” that North Korea used to demonstrate an ICBM As fast as possible.

Containing North Korea with sticks and carrots

Containing North Korea with sticks and carrots

seventy and six percent of Americans are seriously concerned about a major military conflict with North Korea, and well it should be (“sea conflict, North Korea, Muslim militants ahead of ASEAN meetings,” August 4 ).

There are more good solutions in North Korea of the United States or its allies. North Korea has more than 100 nuclear ICBM capable of targeting our allies and US forces in South Korea, Japan, the Philippines and probably in the continental United States. This existential threat and blackmail are intolerable required if the United States should remain a free country.

There are three options: negotiations (which have failed for more than 20 years and three presidencies due to lies and bad faith in North Korea despite the incentives of US $ 1 billion); (Although the murderous dictator of North Korea is very different from the Soviet dictators of the Cold War who responded to this strategy); And the military action of our very superior army (but no longer capable of a knockout attack that prevents revenge on an unimaginable scale).

Of course, there are combinations of these three. To make a difficult situation even worse, we need a strategic and credible world leader in the State Department and the White House, where we now have another way.

China and North Korea should be persuaded by garrote and carrot that their interests can be served by the uninstallation of the Korean peninsula.

This means, for example, that China’s fears about North Korea’s impact of regime change (and the possible flow of refugees across the border) and fears of a US (and nuclear) military presence in Their border will be reduced if they cooperate with a strict strictly economic North Korea until there are negotiations in good faith.

The stick is the alternative reality that China is surrounded by nuclear countries (South Korea, Japan and the United States) with high probability of being dragged into a nuclear war at its gate that can not be used for North Korea and create massive instability in china .

New Zealand denies visas to North Korean academics to attend conference

New Zealand denies visas to North Korean academics to attend conference

TOKYO – The effort on the part of the US To isolate North Korea from every aspect of the international community is apparently widespread in New Zealand, where a group of North Korean researchers – including a historian, philosopher and linguist – were denied visas for a conference. week.

The delegation of 10 members of the Social Sciences Academy of Pyongyang was not allowed to attend the conference of the International Society for Korean Studies in Auckland this week.

His specialties include Korean folklore, philosophy, classical literature, history and education. They were to be accompanied by two “guardians”, as is the case of North Korean groups traveling abroad.

A university was traveling with Jo Hui Sung, who has a reputation in his field: the history of the Koguryo period of the three kingdoms of the Korean peninsula up to the seventh century.

However, the New Zealand government today rejected the visa application to comply with sanctions against North Korea, according to people familiar with the process. “I was told it was due to UN sanctions,” said one, who spoke anonymously to provide details of the decision.

[State Department: United States to prevent Americans from traveling to North Korea]

While the Kim Jong Un regime has continued to challenge the international community with the launching of missiles, the United Nations has imposed sanctions in an attempt to reduce North Korea’s ability to buy parts for its weapons program through logistical reduction and financing.
Meanwhile, the United States imposed much more aggressive unilateral sanctions against North Korea, the black list of individuals and companies that the Treasury Department says are involved in implementing or financing the weapons program.

On Wednesday, the head sent the State Department for East Asian Affairs Susan Thornton, told reporters that the United States was looking for possible ways to suspend North Korea’s largest security group Asia, the 27-nation regional forum ASEAN. The group, which includes the United States and South Korea, should organize its annual meeting Monday in the Philippines.

There are no sanctions applied or planned – either unilateral or multilateral – have been addressed to humanities teachers.

The New Zealand Ministry of Foreign Affairs declined to comment, referring to inquiries from the immigration service.

“Immigration from New Zealand can confirm that these visa applications were rejected for failing to comply with immigration instructions,” said Marc Piercey, a spokesman for the Immigration Service. He declined to comment further for legal and confidentiality reasons.

The visa decision was made a few days after Recorded Future, an information office on threats, released a report indicating that North Koreans had access to the Internet through a handful of countries, including New Zealand. However, it was unclear whether the report had anything to do with the decision.

North Korea Trolls Trump With Open Invite To American Tourists

North Korea Trolls Trump With Open Invite To American Tourists

In response to a ban on traveling to the United States in North Korea, North Korean officials have extended an open invitation to American tourists seeking to “see the reality of their own eyes.”

According to Newsweek, a spokesman for the North Korean Foreign Ministry issued a statement in a local bulletin (also known as the only news source in the country, which is also overseen by the state) that Americans should not be afraid of Visit North Korea.

Apparently, the anonymous spokesman was quoted as saying: “There is no reason why foreigners feel a threat to their security in [Democratic People’s Republic of Korea] has the most stable and strongest state system and many foreigners, including The Americans who visited our country unanimously in this regard. ”

In June, US tourist Otto Warmbier, 22, returned to the United States after more than a year in a North Korean prison.

The New York Times, was arrested for trying to post a propaganda poster in the US. – considered a “hostile act” by North Korean officials – and received a 15-year ruling on labor force.

After being evacuated in June, aid workers realized that the University of Virginia student was in a coma and was a year earlier. He died shortly after his arrival in the United States. The incident caused a travel ban from the United States.

According to Newsweek, three Americans – Professor Tony Kim, Professor Kim Hak-Song and Entrepreneur Kim Dong-Chul – are still trapped in prison cells in North Korea.

There are also other reasons to think that North Korea is not the “stable and strongest state system,” but that it is neither here nor there.

In general, addressing a secret dictatorship Currently being armed with hydrogen bombs capable of reaching the western coast of the United States is probably not a brilliant idea.

And as this would not be the first time North Korea has tried Trump (with threats to test long range missiles, nothing less), it is best to go on that plane

North Korea’s ‘No. 2’ official on 10-day visit to Iran that may signal wider military ties

North Korea’s ‘No. 2’ official on 10-day visit to Iran that may signal wider military ties

As part of the new US sanctions, head “No. 2” in North Korea Thursday began a 10-day visit to Iran that could ensure that both sides broaden their ties.

The official IRNA news agency IRNA reported that Kim Yong Nam, the chairman of the Supreme Assembly of North Korea, arrived Thursday at the inauguration ceremony of Iranian President Hassan Rouhani.

But as the head of the North Korean parliament is expected to stay for 10 days in Iran, it is seen as a front for other purposes, including the expansion of military cooperation. At the same time, Pyongyang looks for ways to counter the sanctions and boost the strong currency of the Kim Jong Un regime.

“There could be a very problematic cooperation going on because of past history and because it has a strategic sense, especially for Iran now,” said Emily Landau, senior researcher at the Israeli Institute of Studies on National Security and Arms Control and Head of Regional security program. INSS is an independent expert group affiliated with the University of Tel Aviv.

The man Iran described as “# 2” from the North is supposed to travel with a delegation of other officials in Pyongyang, including economic and military leaders.

“In North Korea, it’s not a matter of ideology,” Landau said. “It’s not that it’s politically close and maybe religiously oriented.

It’s about who can pay in cash. This is what makes North Korea a very dangerous source of nuclear technology, components and know-how. ”

Last month, Central Intelligence Agency director Mike Pompeo said in a speech to the National Intelligence and Security Alliance that they had “created two new mission centers to put a dagger at the heart of the problem Korea and the problem Of Iran “.

“The North Koreans and Iranians feel a serious threat in the United States and the West and consider themselves to be very different countries, but they face a somewhat similar situation,” said Matthew Bunn, a nuclear proliferation expert and professor of the School’s practice John F. Kennedy of Harvard University.

The new North Korean embassy in Tehran opened on Wednesday, according to state news agency KCNA North. He said the new embassy was “built to stimulate exchanges, contacts and cooperation between the two countries for peace and global security and international justice.”

In July, North Korea’s nuclear weapons carried out two tests of an intercontinental ballistic missile. Iran could have an ICBM capability similar to North Korea in recent years because last week it has successfully launched a bearer of rocket satellites, which some see as a precursor to the ability of weapons to ballistic missiles Long reach.

“There was quite a lot of cooperation on missiles,” Bunn said. “And, in fact, the first generations of Iranian missiles were mostly moderately adequate North Korean missiles.”

For example, the Shahab-3 of Tehran’s ballistic missiles, capable of reaching Saudi Arabia from Iranian lands, is based on North Korea’s Nodong-1 rocket technology.

Diplomat: $1 billion in North Korea exports would be banned by U.N.

Diplomat: $1 billion in North Korea exports would be banned by U.N.

A proposal for a new UN sanctions resolution that would greatly increase the economic pressure on North Korea to return to negotiations on its nuclear and missile programs by banning exports of minerals and a value of more than Shellfish to a third of last year’s total exports 1 billion, a Security Council diplomat said on Friday.

The draft resolution, obtained by The Associated Press, also prohibits countries from providing an additional opportunity for North Korean workers from another source of money for the Kim Jong Un regime.

And it forbids all new joint ventures with North Korean companies and banned new foreign investments in existing joint ventures.

Egypt, which holds the presidency of the Security Council, said that the vote on the draft resolution was scheduled for 3 pm. EDT Saturday.

The proposed new sanctions follow the first tests of intercontinental ballistic missiles of North Korea that managed to arrive at the United States 3 of July and 27 of July.

The Security Council has already imposed six rounds of sanctions have not prevented North Korea’s willingness to improve its ballistic missile and nuclear weapons capabilities.

The draft resolution condemns the launches “in the strongest terms” and reiterates previous calls for North Korea to suspend all ballistic missile launches and abandon its nuclear weapons and nuclear program “in a complete, verifiable and irreversible manner.”

The United States spent weeks after the initial launch of the intercontinental ballistic missile in the negotiation of the text with China, the neighbor and ally of North Korea.

The diplomat, who spoke under the influence of anonymity because he was not authorized to speak publicly, called it “all the most pronounced and widespread sanctions to date,” and said that the resolution must be unanimously approved.

The agreement on the draft to vote followed remarks by the United States of America, Rex Tillerson, comforted Wednesday in North Korea that Washington does not seek regime or accelerated comments of change of reunification of the Korean peninsula received by the Chinese foreign minister .

Tillerson also said that the US Wants to discuss possibly with North Korea, but I do not think the debates are productive if the North intends to maintain its nuclear weapons.

North Korea has repeatedly said it will never give up its nuclear arsenal, which it sees as a security guarantee.

The draft resolution reiterates the wording in previous Security Council resolutions that support the return of six-party talks aimed at denuclearization of the Korean peninsula, which expresses the commitment of the Security Council “for a peaceful, diplomatic solution And political situation “and reiterating the importance of maintaining peace and stability in northeastern Asia.

He also expressed regret over the “massive diversion of limited resources for the development of nuclear weapons and many expensive North Korean ballistic missile programs,” noting that more than half of the population lacks adequate food and medical care and a fourth Part of the population suffers from chronic malnutrition.

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