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[ad_1] The Food Corporation of India (FCI) on Thursday floated a tender to build 2.47 million tonne (MT) capacity silos across 66 locations by the private sector under the design, build, finance, own and operate model. Sources told FE that estimated private investment in building these silos over the next two years will be around Rs 2,500 crore. Silos with 1.8 MT capacity for 20 locations in Punjab; 720,000 tonne for 24 locations in Bihar, Uttar Pradesh and West Bengal; and 660,000 tonne capacity for 18 locations in Gujarat, Haryana, Jammu and Madhya Pradesh are being planned by the FCI. The FCI will use the silos for storage of wheat through a lease of thirty years with private entities. Fixed storage charges to be paid by the FCI to private entities based on a per tonne per year basis are the bidding parameters. This fixed charge escalates by 70% of the wholesale price index and 30% of the consumer price index. Currently, around 2.8 MT capacity silos are under various stages of construction through private sector investment and the corporation aims to build close to 11 MT of silos capacity for storing wheat in the next four to five years. Earlier this year, the food ministry has approved a policy which encourages the private players to bid for construction of 249 state-of-art silos with close to 11 MT wheat storage capacity for the FCI. The silos are being built across 12 states, including Punjab, Haryana, Madhya Pradesh, Maharashtra, Haryana and Kerala, through the public-private partnership (PPP) model with a total estimated investment of Rs 9,200 crore. Sources said that ‘through bundling of projects’, the food ministry has removed an earlier clause which used to restrict large private players or consortium from participating in bidding for a number of projects for construction of silos. As part of a pilot initiative, two rice silos with a combined storage capacity of 25,000 tonne are currently being built at Buxar and Kaimur in Bihar by private entities for FCI. Food ministry officials say that if food grains are stored in silos and transported in bulk, losses due to theft, pilferage and transportation would be negligible compared to the food grains stored in warehouses. Meanwhile, in a major initiative to eliminate storage losses of foodgrains, FCI will discontinue the practice of storing wheat in uncovered facilities from September this year to augment covered storage facilities and ensure direct transfer of grains from procurement centres to the states for public distribution.FCI stores around 50 MT to 60 MT of rice and wheat at any given point of time. Silos ensure better preservation of foodgrains and enhances the shelf life. [ad_2] Source link

[ad_1] Passive income. It’s not an exaggeration to say it’s probably the best kind of income you can earn. Simply put, it’s income you earn with little or no effort on your part. And that means you’ll be free to earn even more money doing other things – or just enjoying your life. Jeff Rose is a big advocate of passive income, and he even wrote an article outlining 28 ways to make it a reality. But like all forms of income, passive income is generally subject to income tax. How is passive income taxed? Much of it will depend on the source, as well as the type of income it is. As we’re about to see, not all passive income taxed the same way. #ap50064-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap50064-ww #ap50064-ww-indicator{text-align:right;color:#4a4a4a}#ap50064-ww #ap50064-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap50064-ww #ap50064-ww-indicator-wrapper:hover #ap50064-ww-text{display:block}#ap50064-ww #ap50064-ww-indicator-wrapper:hover #ap50064-ww-label{display:none}#ap50064-ww #ap50064-ww-text{margin:auto 3px auto auto}#ap50064-ww #ap50064-ww-label{margin-left:4px;margin-right:3px}#ap50064-ww #ap50064-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap50064-ww #ap50064-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap50064-ww #ap50064-ww-text-bottom{margin:5px}#ap50064-ww #ap50064-ww-text{display:none}#ap50064-ww #ap50064-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap50064-w-map{max-width:600px;padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap50064-w-map #ap50064-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap50064-w-map #ap50064-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap50064-w-map #ap50064-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap50064-w-map #ap50064-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap50064-w-map #ap50064-w-map-map svg{position:absolute;left:0;top:0}#ap50064-w-map #ap50064-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap50064-w-map #ap50064-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap50064-w-map #ap50064-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap50064-w-map #ap50064-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap50064-w-map #ap50064-w-map-map svg g .ap00646-w-map-state{display:none}#ap50064-w-map #ap50064-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap50064-w-map #ap50064-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap50064-w-map #ap50064-w-map-map svg g:hover{cursor:pointer}#ap50064-w-map #ap50064-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap50064-w-map #ap50064-w-map-map svg g:hover text{fill:#fff}#ap50064-w-map #ap50064-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap50064-w-map #ap50064-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap50064-w-map #ap50064-w-map-btn:hover{color:#fff;background-color:#508fc9} Build a portfolio through a unique investing experience. Public.com lets you invest in stocks, ETFs, and crypto with any amount of money. Share insights in a community and access a wealth of educational content. HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas Join Today Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures. What Makes Passive Income Passive? The definition of passive income I’ve given in the introduction (and italicized) is very general. It may even be a bit misleading. We can take it a step further and say that it’s also often subjective. Let’s start with this: getting an income source to the point where becomes passive is often anything but passive! For example, let’s say you sell your business and receive monthly installment payments from the new owner for a large part of the purchase price. The installment payments are definitely a source of passive income. But if it took you 20 years to build the business, that part of the activity was anything but passive. Still another gray zone in the definition is in the amount of effort put into the activity. This is also where the definition can become subjective. For example, you might build a successful blog that earns you $10,000 per month. But you’ve moved it to a point where the blog earns that income with no more than about 50 hours of work per month on your part. The income is earned primarily because you’ve managed to automate the site to the point where it practically runs itself. This is an example of what would best be considered a semi-passive income source. And let’s not forget the years you spent building up the blog, when you may have been working 60 to 70 hours per week to make it happen. Semi-passive income sources are often lumped in with true passive income sources, which is where the passive income gray zone lies. As we’ll see in a moment, the IRS has very specific guidelines on passive income. That’s why it’s important to understand the often subtle difference between a truly passive income source, and a semi-passive one. Examples of Passive Income Sources Let’s start with a list of truly passive income sources, the kind that requires no effort on your part whatsoever. (But we’ll ignore the reality that real effort went into creating or building these sources.) True passive income sources include: Interest-earning investments, like bonds and certificates of deposit. Stock investments, either earning dividends or producing capital gains. Direct real estate investing for rental income and long-term capital gains, or both. Most types of real estate crowdfunding, like Fundrise, or income generated from real estate investment trusts (REITs). Participating in pass-through business entities, in which you earn income, but have limited liability and are not involved in management. These typically include partnerships, S corporations, and limited liability companies. Semi-passive income sources (those requiring little effort on your part): Buying or building a business that requires only minimal work from you to earn an income. Renting out part of your home. Selling products through affiliate marketing. Creating a digital product, like an e-book or instructional course, that’s sold through affiliate marketing arrangements. Buying and selling websites, domain names, and other digital property. Each of these ventures will require some effort on your part, even if it’s only a few hours a month. But that participation, small that it may seem, is critical to the success of the venture. #ap82255-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap82255-ww #ap82255-ww-indicator{text-align:right;color:#4a4a4a}#ap82255-ww #ap82255-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap82255-ww #ap82255-ww-indicator-wrapper:hover #ap82255-ww-text{display:block}#ap82255-ww #ap82255-ww-indicator-wrapper:hover #ap82255-ww-label{display:none}#ap82255-ww #ap82255-ww-text{margin:auto 3px auto auto}#ap82255-ww #ap82255-ww-label{margin-left:4px;margin-right:3px}#ap82255-ww #ap82255-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap82255-ww #ap82255-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap82255-ww #ap82255-ww-text-bottom{margin:5px}#ap82255-ww #ap82255-ww-text{display:none}#ap82255-ww #ap82255-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap82255-w-text{padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap82255-w-text #ap82255-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap82255-w-text #ap82255-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap82255-w-text #ap82255-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap82255-w-text #ap82255-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap82255-w-text #ap82255-w-text-btn:hover{color:#fff;background-color:#508fc9} Want to grow as an investor, no matter your level? Public.com is the investing platform that helps people become better investors. Build your portfolio alongside over a million other community members. Download Now Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures. Passive Income for Income Tax Purposes For income tax purposes, the IRS has very specific guidelines as to what constitutes a passive income activity. It centers around the question of material participation. The amount of activity you put into an income generating venture represents material participation. It’s the deciding factor in passive versus non-passive income sources, at least according to the IRS. The IRS defines material participation as follows: You materially participated in a trade or

[ad_1] The post HyreCar Review: Rent Out Your Car in the Sharing Economy appeared first on Millennial Money. When it comes to car habits, we millennials aren’t all that different from baby boomers. Research shows millennials own only slightly fewer cars per household than the average baby boomer at the same stage of life.  At the same time, millennials have an edge. You see, we’re digital natives and almost all of us have smartphones that make it possible to list cars online and rent them to strangers. We also tend to have a side hustle mindset.  By using apps to rent your car to folks who need it, you can significantly reduce the total cost of car ownership and offset the depreciation costs.  If this sounds appealing to you, one service to consider is HyreCar.com. Let’s take a closer look to see what this car rental company is all about.  What is HyreCar? HyreCar is a peer-to-peer car sharing marketplace that enables HyreCar drivers to rent vehicles so they can make money by choosing to drive for Uber and Lyft.  Unlike Turo, this rental service isn’t for personal use.  HyreCar was founded back in 2014 by Anshu Bansal and Abhishek Arora. It now operates out of Los Angeles and has secured $34.7 million in funding. Today, the service is active in all 50 states and Washington, D.C.  There are two ways you can make money through HyreCar: HyreCar for Owners and HyreCar for Business.  HyreCar for Owners HyreCar for Owners is a free marketplace that enables you to earn passive income when others rent your car.  Simply build a profile and add images of your car and a description. Customers can then find you in the online marketplace and reserve your vehicle. HyreCar advises keeping descriptions short, simple, and accurate. Ultimately, descriptions should tell drivers why they should rent from you instead of other vehicle owners.  For example, you might mention that your car is impeccably clean or has a built-in karaoke machine. If you’re located in an urban area, you could explain how its backup camera makes it easy to squeeze into tight parking spots.   Keep in mind that most drivers want a reliable car and will lean toward functionality and efficiency over flashiness.  HyreCar for Business  HyreCar for Business is a service designed to help you scale your operations and launch a fleet of vehicles. By signing up as a HyreCar for Business partner, you can receive support for building your brand and maximizing listings in your local area. The company also provides resources for scaling and managing a fleet and promoting your vehicles. This is an option if you have multiple cars you want to put to use. Assuming they’re clean and in good condition, you could use HyreCar for Business to start a mini fleet. With three cars in operation, you could potentially start raking in cash and make enough to expand to a fourth vehicle. This is where the costs come in. HyreCar for Business costs $12,049/ month (15 vehicles), $40,163/ month (50 vehicles), or $80,327/ month (100 vehicles). HyreCar’s vehicle buying program In addition to renting cars through HyreCar, you can also trade in your vehicle and connect with local dealerships through HyreCar’s auto buying tool.   That said, it’s always good to shop around and get multiple quotes when selling a car. Use this tool as part of a larger selling strategy and avoid taking the first offer. Get started with HyreCar FREE HyreCar is a peer-to-peer car sharing marketplace that enables HyreCar drivers to rent vehicles so they can make money by choosing to drive for Uber and Lyft. Just rent out your car to a rideshare or delivery service driver and the rest is easy! Rent your car out with HyreCar HyreCar for Owners Features Since you’re reading, you probably don’t need to manage a fleet — at least not yet. You probably want to make some extra cash by renting your car. So let’s take a closer look at HyreCar for Owners.  Passive income  The coolest aspect of HyreCar is the opportunity to bring in passive income, meaning you can earn money without really having to do anything. Of course, you have to maintain the vehicle and manage your account online, so this isn’t totally hands-off. However, earning money doesn’t require any work. It’s just a matter of letting other people borrow your car and collecting income whenever people choose to do so.  According to HyreCar, you can bring in up to $12,000 per year through its rental program. Not bad! Business-minded customers  The idea of letting someone else drive your car can be unsettling.  With HyreCar, renters must work for ridesharing companies like Uber or Lyft. So you’ll be working with professionals who need transportation to make money as opposed to roadtripping or joyriding around town. So you’re bound to attract a more responsible crowd.  Furthermore, HyreCar has a vetting process in place to filter out the riffraff and protect your investment.  Flexible listing Listing a car is easy and fast.  HyreCar gives you full control over what you can put in the description. Include the make, model, condition, and any features you want to highlight. You may also set a mileage limit and decide when your car is available. Remember, this description is like an advertisement. It’s worth putting in the extra effort of crafting the perfect listing.  Set your own price and commission HyreCar offers an open market. This means you can set your own pricing and optimize it depending on the time, demand, and local market conditions.  For example, you may want to lower the price of your car during off-peak times when there aren’t as many drivers on the road. At the same time, you could jack up the price during busier times. According to HyreCar, rental costs typically range from $30 to $45 per day, $200 to $300 per week, and $800 to $1,110 per month. Insurance policy  HyreCar offers a comprehensive protection plan for

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[ad_1] Mercedes denies report that is has discussed sale of van business [ad_2] Source link

[ad_1] EQT‘s Galderma on Wednesday announced that its injectable drug nemolizumab helped patients suffering from the rare skin disease prurigo nodularis in a trial, potentially underpinning the owner’s ambitions to list the skincare firm. According to a report by news agency Reuters, in a late-stage trial, Galderma’s drug was shown to remove lesions and ease itch in some patients. Itch is a chronic symptom of a potentially debilitating skin disease. Sources told Reuters in May that EQT is delaying listing plans for Galderma as market volatility and recession fears in Europe cool investor appetite for what could be Switzerland’s biggest flotation in more than two decades. The listing could happen in the autumn or early next year depending on market conditions, the sources said at the time as quoted by Reuters. Japan’s Maruho Co. Ltd is also working on a prurigo nodularis treatment while French drugmaker Sanofi is running trials to get its bestselling eczema drug Dupixent also approved for the disease. (With inputs from Reuters) [ad_2] Source link

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[ad_1] Federal Reserve Chairman Jerome Powell while testifying before the Senate Banking Committee of congressional hearings acknowledged that inflation has surprised to the upside over the past year, and further surprises could be in store. Powell also said that the Fed is committed to bringing inflation back down and the American economy is very strong and well positioned to handle tighter monetary policy. Powell stated – At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so. We have both the tools we need and the resolve it will take to restore price stability on behalf of American families and businesses. It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all. Here are some excerpts from the Jerome Powell’s Testimony: On Inflation and Supply Constraints Inflation remains well above our longer-run goal of 2 percent. Over the 12 months ending in April, total PCE (personal consumption expenditures) prices rose 6.3 percent; excluding the volatile food and energy categories, core PCE prices rose 4.9 percent. The available data for May suggest the core measure likely held at that pace or eased slightly last month. Aggregate demand is strong, supply constraints have been larger and longer lasting than anticipated, and price pressures have spread to a broad range of goods and services. The surge in prices of crude oil and other commodities that resulted from Russia’s invasion of Ukraine is boosting prices for gasoline and fuel and is creating additional upward pressure on inflation. And COVID-19-related lockdowns in China are likely to exacerbate ongoing supply chain disruptions. Over the past year, inflation also increased rapidly in many foreign economies. On Economic Growth Overall economic activity edged down in the first quarter, as unusually sharp swings in inventories and net exports more than offset continued strong underlying demand. Recent indicators suggest that real gross domestic product growth has picked up this quarter, with consumption spending remaining strong. In contrast, growth in business fixed investment appears to be slowing, and activity in the housing sector looks to be softening, in part reflecting higher mortgage rates. The tightening in financial conditions that we have seen in recent months should continue to temper growth and help bring demand into better balance with supply. On Labor Market The labor market has remained extremely tight, with the unemployment rate near a 50-year low, job vacancies at historical highs, and wage growth elevated. Over the past three months, employment rose by an average of 408,000 jobs per month, down from the average pace seen earlier in the year but still robust. Labor demand is very strong, while labor supply remains subdued, with the labor force participation rate little changed since January. On Monetary Policy The Fed’s monetary policy actions are guided by our mandate to promote maximum employment and stable prices for the American people. My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing, and transportation. We are highly attentive to the risks high inflation poses to both sides of our mandate, and we are strongly committed to returning inflation to our 2 percent objective. Against the backdrop of the rapidly evolving economic environment, our policy has been adapting, and it will continue to do so. With inflation well above our longer-run goal of 2 percent and an extremely tight labor market, we raised the target range for the federal funds rate at each of our past three meetings, resulting in a 1-1/2 percentage point increase in the target range so far this year. In May, we announced plans for reducing the size of our balance sheet and, shortly thereafter, began the process of significantly reducing our securities holdings. Financial conditions have been tightening since last fall and have now tightened significantly, reflecting both policy actions that we have already taken and anticipated actions. Going forward Over coming months, we will be looking for compelling evidence that inflation is moving down, consistent with inflation returning to 2 percent. We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy. We will make our decisions meeting by meeting, and we will continue to communicate our thinking as clearly as possible. Our overarching focus is using our tools to bring inflation back down to our 2 percent goal and to keep longer-term inflation expectations well anchored. Making appropriate monetary policy in this uncertain environment requires a recognition that the economy often evolves in unexpected ways. Inflation has obviously surprised to the upside over the past year, and further surprises could be in store. We therefore will need to be nimble in responding to incoming data and the evolving outlook. And we will strive to avoid adding uncertainty in what is already an extraordinarily challenging and uncertain time. We are highly attentive to inflation risks and determined to take the measures necessary to restore price stability. The American economy is very strong and well positioned to handle tighter monetary policy. We at the Fed will do everything we can to achieve our maximum-employment and price-stability goals. [ad_2] Source link