Ezollution

Ezollution EDI in India : filing FHL, CGM, IGM, EGM, BE, SB to ICEGATE

By The Help Of Ezollution Enterprise Suit Software You Can Fulfill All Challenges Like MBL/HBL Filing,Documentation, Consolidation, Customer Relations And Shipment Tracking In A Cohesive And Integrated Manner. Ezollution Provides Automated Management Of Sea Freight, And Also Ensures A Better Control On Profitability And Revenues. Sea Freight Forwarders Are Able To Provide Automated Status Updates

To Clients/Agents About Their Shipments And Enhance The Level Of Service As Well As Customer Satisfaction. Key Concepts

• Complete Automation Solution Which Manages The Core Business Of Sea Freight Forwarders With Simplicity.

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It seems such a great day to say - we feel so lucky that you came our way! Happy Birthday to you. Make it grand.Wish you...
26/09/2014

It seems such a great day to say - we feel so lucky that you came our way! Happy Birthday to you. Make it grand.

Wish you a very Happy Birthday Er. Ashish Tiwari & congratulations on completing successful year !!!!

We are glad that you are a part of our team & hope that you achieve many more success to come...

Er. Ashish Tiwari : 26-09-2014

25/09/2014

Export-Import Bank of India's Chairman and Managing Director Mr. Yaduvendra Mathur declared the Bank's results, for the financial year 2013-14, in Mumbai on Wednesday, APRIL 30, 2014. Also seen in the picture is the Bank's Executive Director Mr. David Rasquinha.

Lines of Credit aggregating US$ 1,771.75 million (24 new LOCs during the year) were extended to support export of projects, goods and services from India. 189 LOCs, covering 75 countries in Africa, Asia, CIS, Europe and Latin America, with credit commitments aggregating US$ 10.33 billion are currently available for utilisation, while a number of prospective LOCs are at various stages of negotiation.
Project Export Contracts supported by Exim Bank in 2013-14, amounted to ` 34,131 crore, which were secured by 40 companies in 35 countries. As on March 31, 2014, 319 project export contracts valued at ` 1,40,326 crore (approx. US$ 23.42 billion) supported by the Bank, were under ex*****on, in 74 countries across Asia, Africa and CIS by 99 Indian companies.
Buyer’s Credit – National Export Insurance Account (BC-NEIA): The Bank has till date sanctioned an aggregate amount of US$ 444 million for 5 projects valued US$ 520 million under Buyer’s Credit – National Export Insurance Account (BC-NEIA). The Bank has also given in-principle commitments for supporting several projects and the current active pipeline includes 54 projects aggregating US$ 7.43 billion under BC-NEIA.
Overseas Investment assistance was sanctioned to 42 corporates aggregating ` 6,456 crore for financing their overseas investments in 37 countries. So far, Exim Bank has provided finance to 494 ventures set up by 391 companies in 80 countries
Profit before tax (PBT) and profit after tax (PAT) of the Bank were at ` 1,020 crore and ` 710 crore respectively during the year 2013-14.

RESOURCES/TREASURY



During the year, the Bank raised borrowings of varying maturities comprising rupee resources of ` 22,654 crore and foreign currency resources of ` 19,238 crore equivalent.
The Bank is rated investment grade, on par with the country’s Sovereign rating. As on March 31, 2014, the Bank was rated Baa3 (Stable) by Moody's, BBB-(Negative) by Standard & Poor’s, BBB- (Stable) by Fitch Ratings and BBB+(Negative) by Japan Credit Rating Agency (JCRA). The Bank's Rupee debt instruments continued to enjoy the highest rating viz. AAA rating from the rating agencies, CRISIL and ICRA.

NEW BENCHMARKS IN THE INTERNATIONAL CAPITAL MARKETS

The Bank issued US$ 500 million RegS Eurodollar bonds for a tenor of 5.5 years in March 2014. These bonds are included in the Emerging Market Bond Index (EMBI).
The Bank raised US$ 320 million equivalent by way of issue of Uridashi Bonds (a bond denominated in a foreign currency and sold directly to Japanese household investors) in three different currencies viz., Turkish Lira, Japanese Yen and Mexican Peso thereby achieving diversification of investor base. The Bank has now tapped the Uridashi Bond market on three occasions and continues to be the only Indian entity in this market.

NEW INITIATIVES

Exim Bank’s Project Development Company: The Bank will set up a Project Development Company (PDC) in Africa, which will essentially look to bring infrastructure projects in Africa to a bankable stage and facilitate exports from India to Africa. This is the first time Exim Bank is looking to set up a PDC and also the first time in Africa.
Exim Bank’s presence in Myanmar: To bolster bilateral trade and investment between India and Myanmar, the Bank opened its eighth Representative Office in Yangon, Myanmar, becoming the first Government-owned Exim Bank in the World to set up its operations in Myanmar.
• Seminars with AfDB for Indian companies: Given increased interest of Indian consultants, contractors and suppliers in many developing countries, the Bank has organized a series of interactive seminars on business opportunities in projects funded by the World Bank Group and the African Development Bank Group (AfDB) at New Delhi, Mumbai and Hyderabad.

25/09/2014

Export-Import Bank of India organized a roundtable with Select USA, on September 23, 2014, to promote Indian investments in the US.

Export-Import Bank of India organized a roundtable with SelectUSA, on September 23, 2014, to promote Indian investments in the US. A team of senior officials from SelectUSA led by Ambassador Vinai Thummalapally, Executive Director, SelectUSA, as well as dignitaries from the US Embassy, New Delhi and US Consular General, Mumbai were present at the event.

During the visit of US Secretary of Commerce Ms. Penny Pritzker on July 30, 2014, Exim Bank had signed a Memorandum of Intent (MOI) with SelectUSA to encourage collaboration to promote Indian investment to the US. The MOI reinforces the strong commercial relationship between the two countries. Under the terms of the MOI, both parties will seek to act as central points of contact for existing and potential investors who seek investment opportunities and information on bilateral investment flows. The Roundtable is a part of this joint effort to enhance trade and investment relations between India and the US.

In his keynote address, Amb. Thummalapally encouraged collaboration between the two countries and urged for higher Indian investments in the US. A presentation by SelectUSA revealed India as one of the fastest growing sources of FDI in the US, growing at a CAGR of 29.3 percent between 2009-2013.

Speaking on the occasion, Mr. Yaduvendra Mathur, CMD, Exim Bank, spoke about India’s robust trade ties with the US, as well as growing Indian investments into the US in recent years, which has been a novel feature of bilateral ties. He briefed on the various programmes supported by Exim Bank in the US, and reaffirmed Exim Bank’s support to partner Indian companies in their endeavours to enhance their operations in the US.

The event was largely attended by potential Indian companies who are looking at the US for investments, as also those who would like to enhance their presence in the US market as part of their global end eavour.

25/09/2014

JNPT bags first prize under ‘Indira Gandhi Rajbhasha Puraskar’

Jawaharlal Nehru Port Trust (JNPT) was recently awarded the ‘Indira Gandhi Rajbhasha Puraskar’ (1st Prize) for 2012-13, for the excellent work done in promoting Hindi in the category of Boards/Autonomous Bodies in region ‘B’.

The award was received by Mr N. N. Kumar, IRS, Chairman of JNPT, from Mr Pranab Mukherjee, President of India, in the presence of Mr Rajnath Singh, Union Minister of Home Affairs, and Ms Neeta Chaudhary, Secretary (O.L.), government of India.

25/09/2014

Apollo LogiSolutions acquires controlling stake in UAE-based Clarion Shipping Services LLC

Apollo LogiSolutions Ltd (ALS), promoted by Mr Raaja Kanwar, has acquired controlling stake in the UAE-based Clarion Shipping Services LLC valued at Rs 400 crore. ALS is a logistics arm of Apollo International Ltd (AIL), a diversification initiative of the Apollo Group promoted by Mr Onkar Kanwar. This acquisition will not only help ALS leverage Clarion’s global footprint in the Middle East, Africa and South-East Asia, but also provide access to global clients across segments.

Mr Raaja Kanwar, Managing Director and Vice-Chairman, AIL, outlined the acquisition as a significant milestone in the company’s growth strategy. "We are confident that Clarion’s strong footprint in the logistics domain will enhance our global network in the integrated logistics space. Currently, both Clarion and ALS are working towards identifying common lines of business. We hope that the resultant synergies and combined global network of this partnership will allow us to provide best in class service throughout the value chain of logistics business to our valued customers."


Mr Aniyan Kutty, Managing Director of Clarion Shipping Services LLC, said, "We are excited to work with the team at ALS. We at Clarion have a keen focus on accelerated growth. This investment by ALS will allow us to pursue a strategy of enhancing our capabilities and expanding our international presence, while simultaneously leveraging ALS’ customer base and process methodologies."

With this acquisition, ALS will get access to over 20 countries where Clarion has a strong presence and will also extend its footprint to nearly 100 countries across the globe. As a part of this acquisition, Clarion will create an integration of all the Clarion processes with Apollo.


The Clarion acquisition follows ALS’ acquisition, in 2013, of a Chennai-based logistics company located close to the Chennai and Ennore ports.

Renews Customs Cooperation Pact India and China have renewed the agreement for Mutual Administrative Assistance and Coop...
20/09/2014

Renews Customs Cooperation Pact

India and China have renewed the agreement for Mutual Administrative Assistance and Cooperation in Customs matters. A fresh agreement was signed by the Chairperson of Central Board of Excise and Custom (CBEC) JM Shanti Sundharam and the Chinese Ambassador to India.

The fresh agreement will help in timely availability of relevant information for prevention, investigation and combating Customs offenses. It will assist customs administrations in both the countries to exchange experiences in the techniques and methods of clearance of goods and passengers, exchanging information on new trends of smuggling and in simplification and harmonization of procedures.

India nearly doubles oil imports from Iran in Jan-AugFresh figures show that India’s crude oil imports from Iran have in...
20/09/2014

India nearly doubles oil imports from Iran in Jan-Aug

Fresh figures show that India’s crude oil imports from Iran have increased by nearly 50 percent in January-August compared with the same period in 2013.

According to data from trade sources, New Delhi imported 271,000 barrels per day (bpd) of Iranian crude in the first eight months of this year, which is nearly double the amount it had purchased during the corresponding time span last year.

Figures further indicate that India bought 273,500 bpd of Iranian oil in August, up 30 percent from the previous month and some 81 percent higher than a year ago.

The August rise in India’s oil imports from Iran came after the Indian Oil Corporation, the country’s biggest refiner, shipped in nearly two million barrels of Iranian crude following a two-month gap.

Last month, Reuters cited similar data showing that Indian crude imports from the Islamic Republic rose by around 46 percent in January-July compared with the same period in 2013.

India is the largest buyer of Iran’s crude after China.

Iran has seen a rise in its oil exports following the implementation of an interim nuclear deal between the Islamic Republic and the five permanent members of the UN Security Council - the United States, China, Russia, France and Britain - plus Germany.

The interim agreement has provided Iran with some sanctions relief in exchange for the country having agreed to limit certain aspects of its civilian nuclear work. Part of the sanctions targeted the Islamic Republic’s oil and financial sector.

20/09/2014

Exim Bank extends $62.95 million Line of Credit to Senegal

The Export Import Bank of India today said it has extended a $62.95 million Line of Credit (LOC) to Republic of Senegal for a rice self-sufficiency programme.

Under the LOC, which are generally aimed at pushing the country's exports, Exim Bank will reimburse 100 per cent of the contract value to the Indian exporter of the goods, upfront upon the shipment of the goods, it said.

20/09/2014

Exim Bank extends USD 100 million Line Of Credit to Vietnam

The Export-Import Bank of India (Exim) on Wednesday said it has extended an additional Line of Credit (LOC) of USD 100 million to Vietnam to finance the purchase of equipment and supplies. With the signing of the LOC agreement, Exim Bank has so far extended four LOCs to Vietnam taking the total value to USD 191.50 million, the bank said in a statement.

The LOCs have supported export of items like equipment for hydro power project, cold rolling steel, carding and spinning machines, hydraulic power equipment, tea processing machinery and the Nam Chien hydropower project in Vietnam.

The agreement was signed on September 15 by Exim Bank's General Manager (LOC and trade finance group) Geeta Poojary and Deputy Minister of Vietnamese Ministry of Finance Truong Chi Trung. Under the agreement, Exim Bank will reimburse 100 per cent of contract value to the Indian exporters, upfront upon shipment of goods.

The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 195 LOCs, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 10.71 billion, available for financing exports from the country.

20/09/2014

ICICI Bank signs $1-bn agreement with China Exim Bank

ICICI Bank Ltd, India's largest private sector bank, today signed a framework agreement with the Export-Import Bank of China (China Exim Bank) for $1 billion.

“Under this agreement, China Exim Bank will consider providing short-term and long-term credit lines to ICICI Bank for financing purchase and import by the latter’s clients of Chinese products and services. The credit lines may also be utilised to support cooperation between Chinese and Indian enterprises in natural resources, energy exploration and construction contracting projects,” ICICI Bank said in a statement.

The framework agreement would strengthen existing ties between the two banks. ICICI Bank and China Exim Bank had signed a $500-million framework agreement for cooperation in July 2009.

Subsequent to the agreement, long-term lines of credit were established in support of Chinese imports into India. ICICI Bank and China Exim Bank have successfully partnered in financing projects at multiple locations in India.

ICICI Bank also signed a memorandum of understanding (MoU) with China Development Bank Corporation for strengthening commercial and economic ties and setting up a mechanism to facilitate mutual trade and investment opportunities. The MoU seeks to reinforce the economic and trade relationship between China and India, and to promote the economic development of their respective countries.

ICICI Bank had earlier signed a $500-million MoU with China Development Bank in December 2010. Simultaneously, lines of credit were established between the two banks in support of Chinese equipment imports to projects in India as well as other linkages of interest to both countries. The two banks are further collaborating to jointly support and promote projects having significant scope for furthering economic development of the two countries.

The parties agreed to continue the long-term and strategic cooperation by leveraging their respective strengths with a view to providing possible support in promoting trade and investment projects in each other's country. They also agreed to work towards expanding bilateral economic and trade relationships between China and India through joint provision of financial and advisory support for identified opportunities.

Novel method of smuggling gold busted at Mangalore International AirportOfficials of customs at Mangalore International ...
19/09/2014

Novel method of smuggling gold busted at Mangalore International Airport

Officials of customs at Mangalore International Airport (MIA) on Wednesday busted a new modus operandi of smuggling gold and seized gold weighing 1,393.200 grams in separate cases valued at Rs 38.31 lakh. The modus operandi employed this time involved concealing gold in the form of foils in cardboards containing toys and stickers affixed to them and around the walls of potato wafer tins, which were kept in checked in baggage.

In the first instance, gold in the form of foil strips weighing 709.600 grams, valued at Rs 19.51 lakh was seized from the possession of Athiyalparambu Kunha Abdulla, 39, resident of Zeenath quarters, Kolavayal, post Kolavayal in Kasargod district of Kerala. Athiyalparambu arrived at MIA at Kenjar near here on a Jet Airways flight 9W531 around 7.45am, a communique from D Purushottam, commissioner of customs here stated.

Incidentally, Eachilingal Kunhamoo Moosa, 32, resident of Eachilingal House, Bare post, Udma in Kasargod district who arrived by the same flight at Athiyalparambu employing the same modus operandi failed to make it past the customs officials. He was found carrying 683.600 grams of gold in the form of foils valued at Rs 18.79 lakh. Krishna Kumar Prasad, deputy commissioner of customs carried out the operations, Purushottam added.

19/09/2014

ICEGATE (Indian Customs EDI Gateway) is an e-commerce portal of the Indian Customs which offers services such ase-filing of Bills of Entry (Import Goods Declaration);Shipping Bills (Export Goods Declaration); and EDI between Customs and its Trade Partners for IGM, EGM, Customs Duty Payment and Drawback Disbursal through electronic messages. Trade partners can use communication modes such as e-mail; Web-upload; FTP to transact business on ICEGATE. ICEGATE is also involved in Data exchange between Customs and various licensing and regulatory agencies. Services available on ICEGATE website include, e-payment, on-line registration for IPR, Tracking of Document Status, online verification of import licenses, Importer Exporter (IEC) code status etc.

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