Shery President Trumps impeachment moves forward. The house formally notifies the senate but a trial could begin tuesday. Lots of headlines to digest today. Australian markets have just opened. How are they reacting . Sophie investors probably liking to play defensive today. Nudging slightly higher belittle change as it is looking to crack the 7000 level. Futures looking elsewhere just nudged slightly higher at the start of cash trade. Youre keeping an eye on resource stocks. We had would side an update. The Energy Player expecting growth on energy and liquid production and aluminum minors in view as well. Deal isng the new trade the best catalyst for demand. Lets address the board to check in on currencies. We are seeing steady currency markets just below 110. Trading near a july high. Dollar not budging much. Bond moves to the upside. 10 year yield on the upside. Back to the aussie dollar, i just want to highlight the snapshot. It is unlikely that they will be shifting their position
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The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet s nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet s approval remains pending.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said.
The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval.
This represents a departure from the department s earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.