Latest news with #LetterofCredit
Time of India
11-05-2025
- Business
- Time of India
Global traders track Indo-Pakistan tensions amid delays at ports
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Foreign importers are seeking updates from their Indian suppliers on the elevated geopolitical tensions with Pakistan amid slow cargo movement in certain ports, while some banks are taking longer to check documents related to shipments bound for Turkiye, exporters said, though ruling out any major concern in trade."There were alerts for ports such as Chennai due to which cargo movement slowed a bit but there were no major issues," said Rafeeque Ahmed, chairman of Farida Group, one of India's largest shoe manufacturers and said American clients are worried because Chinese goods are not going there due to higher tariffs and they had pegged their hopes on Indian exports . The US government had raised tariffs on Chinese goods to a combined 145%, making imports from India more attractive.A Gujarat-based exporter of readymade garments said it had inquiries and visits from buyers to place new orders of products which they used to source from China earlier as higher American tariffs on Chinese goods made Indian products more attractive."As soon as the escalations started, they got worried. Buyers who were in India left immediately and those who planned to come, cancelled their trips at the last moment," the exporter said, adding overseas clients are regularly taking updates regarding the situation."Banks are taking more time to clear the Letter of Credit (LoC) for goods bound to Turkiye. They are checking and verifying such documents more," said a Delhi-based exporter of apparel. Turkiye has been actively supporting Pakistan, especially in the latest border escalation. It has supplied drones and other military equipment to to a Kolkata-based yarn and fabric exporter, there were small concerns on outward export traffic due to restrictions on ports. "No one expects the tensions to go on for long but local markets are feeling the pinch," he said."It is too early to say but if the tensions continue then freight rates and insurance costs may go up," said Sanjay K Jain, managing director, TT Ltd, a textile maker.
Hans India
10-05-2025
- Business
- Hans India
MLA Vijayudu Hands Over Rs. 5 Lakh LOC to Beneficiary in Aiza Town
Gadwal: In a significant move to support local development and welfare, Alampur Constituency MLA Sri Vijayudu handed over a Letter of Credit (LOC) worth Rs. 5 lakhs to Mr. Vijay Reddy, a resident of Aiza town, on Saturday. The LOC was granted as part of ongoing initiatives aimed at extending financial assistance and encouraging local infrastructure or welfare-based projects within the constituency. Speaking at the event, MLA Vijayudu reaffirmed his commitment to ensuring that government benefits and schemes reach deserving individuals and communities in every corner of the Alampur constituency. The event witnessed the participation of BRS party leaders, local functionaries, and party workers, who extended their support and congratulated the beneficiary. The gathering appreciated the MLA's proactive approach and his continued efforts toward the betterment of the people in his constituency.
Associated Press
30-04-2025
- Business
- Associated Press
ODAS Global Consulting LTD Launches New Associate Program Amid Rising Industry Trend in Network-Based Financial Services
ODAS Global Consulting LTD officially launches its new Associate Program, aligning with the growing global trend of network-based business models in the financial consulting sector. The program offers business professionals an opportunity to partner with a leading international consulting firm, benefiting from strategic resources. London, United Kingdom, April 30, 2025 -- In an era where financial services and consulting firms are increasingly embracing network-driven business models, ODAS Global Consulting LTD proudly announces the launch of its new Associate Program. This move positions ODAS among a growing number of companies adapting to modern trends in business development and strategic partnerships within the financial consulting sector. The launch aligns with a broader shift in the financial and consulting industries, where associate and partnership programs have become key strategies for global expansion and personalized client service. According to a recent report by Global Business Insight, over 40% of consulting and investment firms are leveraging associate-driven models to access new markets, increase operational flexibility, and foster deeper client relationships. ODAS Global Consulting LTD, an international leader in business consulting, financial advisory, investment structuring, and project development, recognizes that the landscape for professional services is evolving rapidly. The company specialises in business consultancy, financial structuring, Standby Letter of Credit (SBLC) and Letter of Credit (LC) issuance, investment advisory, project development, and strategic innovation services. ODAS is dedicated to empowering businesses with sustainable, client-focused solutions that drive growth and long-term success. Their Associate Program offers selected professionals the opportunity to collaborate within a dynamic, globally recognized platform, providing them access to a wide range of resources, strategic support, and innovative financial solutions. 'In today's interconnected global economy, building strong networks and partnerships is essential,' said Ionut Dragos Onescu, CEO of ODAS Global Consulting LTD. 'Our Associate Program is designed not just to extend our global footprint but to empower independent consultants, introducers, and business professionals with the tools they need to thrive in a competitive environment.' The initiative focuses on forging long-term, mutually beneficial partnerships, offering flexibility, autonomy, and the opportunity to represent a respected global brand. ODAS Global Consulting LTD remains committed to maintaining high ethical standards, offering personalized client solutions, and driving sustainable growth both for its associates and its clientele. This strategic development reflects how firms are responding to increased globalization, the demand for customized financial services, and the acceleration of digital transformation in the consulting and finance industries. To learn more about ODAS Global Consulting LTD's Associate Program and its impact on global consulting trends, visit our Associate Program website. Contact Info: Name: IONUT DRAGOS ONESCU Email: Send Email Organization: ODAS GLOBAL CONSULTING LTD Address: Dept 5667a 126 East Ferry Road, Canary Wharf, London, E14 9FP Phone: +447514013350 Website: Release ID: 89158750 In case of encountering any inaccuracies, problems, or queries arising from the content shared in this press release that necessitate action, or if you require assistance with a press release takedown, we urge you to notify us at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team will be readily available to promptly address your concerns within 8 hours, resolving any identified issues diligently or guiding you through the necessary steps for removal. The provision of accurate and dependable information is our primary focus.
Hans India
23-04-2025
- Health
- Hans India
CM Relief Fund a boon for the poor: Minister BC Janardhan Reddy
Banaganapalle: The Chief Minister's Relief Fund (CMRF) has become a beacon of hope for the underprivileged suffering from serious health issues, said BC Janardhan Reddy, Minister for Roads & Buildings, Investments, and Infrastructure of Andhra Pradesh. At his camp office in Banaganapalle on Tuesday, the Minister distributed cheques worth Rs34 lakh to 21 beneficiaries under the CMRF. The assistance aims to reduce the medical burden on families from economically weaker sections. One such beneficiary, Karnati Venkata Sushanth Reddy from Banaganapalle, is battling a severe illness. After the case was brought to the Minister's attention, he sanctioned Rs10 lakh under the Letter of Credit (LOC) scheme for advance medical treatment. The cheque was formally handed over during the event. During the ceremony, the Minister personally enquired about the health of all recipients, expressing genuine concern for their recovery. Speaking on the occasion, he stressed that the coalition government led by Chief Minister N. Chandrababu Naidu is firmly committed to public health. 'The government stands by the people, especially in times of crisis. The CMRF has played a vital role in saving lives across the state,' he said.e added that when the head of a family falls ill, the entire household suffers financially. The relief fund, he said, prevents families from falling into debt by providing timely beneficiaries conveyed heartfelt thanks to the Minister and the government for their compassionate assistance.
