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[ad_1] In view of the growing threat of the Omicron variant of coronavirus in the country, Goa’s COVID-19 task force will hold a meeting on Friday to discuss guidelines for Christmas and New Year celebrations, state Chief Minister Pramod Sawant has said. Talking to reporters late night on Thursday, he also appealed to the tourism industry to abide by all the coronavirus-related protocols, especially during the festive season. The tourism industry stakeholders should take all the precautionary measures to ensure that the virus does not spread in the state, he said. “Although no case of Omicron infection has been detected in Goa so far, all necessary steps need to be taken during the festive season. A few states have imposed night curfew in view of the virus variant. But we need to make sure that we don’t have to go undertake such measures,” Sawant said. The tourism industry should ensure adherence to COVID-19 norms, like social distancing and sanitisation, to prevent the spread of the virus.The state has been testing international passengers arriving at the airport, he said, adding, “Those who test positive are isolated and other passengers who arrive with them are also monitored.” [ad_2] Source link

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[ad_1] Japan's record $940 billion budget to help recovery as fiscal reform in back seat [ad_2] Source link

[ad_1] Export and import of finished steel in November 2021 declined by 31.6% and 17.5%, respectively, over October 2021. At 8.47 mt, consumption in November also fell by 8% over the same month last year and 1.5% over October 2021. A price decline followed. In an interview, JSPL managing director VR Sharma tells Surya Sarathi Ray that domestic steel prices will remain stable at least till the next quarter. Edited excerpts: Why are prices coming down?Prices are coming down as cost of inputs like coking coal, iron ore and scrap have fallen. We have passed it on to the consumers. How much has been the price reduction in December?There has been no price reduction in December. The total decline in the prices in the last three months is about Rs 2,500 per tonne. Now, prices are stable. The HRC price is now Rs 66,500 in the Mumbai market and Rs 66,000 in Delhi. What is the outlook?The price is stable now. In recent times, iron ore price has moved up. Earlier, it fell to $110/tonne in the international market, now it has again gone up to $130/tonne. Similarly, scrap prices have firmed up by $20-25 a tonne. Coking coal price came down for a while for 2-3 weeks, but again has gone up by $20 a tonne to $340-350/tonne. So, these developments will hold the price at the moment. There will be no reduction further. It will sustain. How long will it sustain?It will sustain at least for the next quarter. There will be no increase in the prices either. But input prices are moving up.We are following a pattern. So, even if the iron ore prices go up, we are not going to increase the price immediately. We will wait for 15-20 days to see the impact. Similarly, if there is a decline in the input cost, we will see the impact on cost of production before taking any call. Exports are declining, so is domestic consumption…Prices can’t perpetually go up and up for any item. There has to be some pause. And it has already taken place. There is some ambiguity in the international market as well. During Christmas time, this thing happens every year as customers go on holiday and then they come back after the first week of January. So, these 15 days is always a less business time. Most of the steel mills are already booked and as the world opens, the business will restart. Are we losing in the export market because of China again?No, China is a net importer now. They are not posing any threat. In order to achieve their carbon emission rate, they are importing semi-finished products, so that they don’t have to melt iron ore to make steel. Maximum emission takes place in the blast furnace. They are trying to reduce their blast furnace production and to compensate, they are importing semi-finished products. What about the domestic demand?The domestic demand was down due to two reasons — there was a construction ban in the NCR and then there was heavy rain and flood-like situation in the South, especially in Tamil Nadu and Karnataka. The rain disrupted construction and manufacturing activity. But, as the rains have gone, the construction in NCR has started. However, it will take at least 10-15 days for the labour to come back. How serious is the Omicron threat?We don’t see Omicron as a threat as most of the people are already vaccinated. Business will be as usual. The situation now is different from April-May. In April-May, we were not ready and people were not vaccinated. Now, more than 60 crore people are vaccinated with both the doses. What is your Budget wish list?The finance minister has already said that the government will be working to improve upon infrastructure. So, when the infrastructure growth is to be given an impetus, it will augur well for the steel industry. We are not expecting any duty change or fiscal incentive from the Budget. Will JSPL opt for the PLI scheme?The government has already taken a declaration from all of us as to what new products we are going to produce. Under the scheme, JSPL intends to produce speciality rails, coated products, high-strength steel, high-strength alloy steel, forging grade of steel and rounds, speciality auto-grade rounds. What is the total capacity that JSPL is looking at by 2030?Our wish is to reach to 50 million tonne per annum (mtpa) by 2030. By 2026, we want to be somewhere around 23-24 mtpa. We have nine mtpa capacity now. We are adding 6 mtpa capacity by end of 2023 both in Angul and in Raigarh with an investment of Rs 18,000 crore. While all expansions will mainly be brownfield, one greenfield, 6-mtpa plant may come up in Krishnapattanam. We have got the 800 acres of land from the Andhra Pradesh government. After the expansion of the Angul plant, we will look into it. The investment in the proposed plant will depend upon its configuration. [ad_2] Source link

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Click your state to get matched to a top ranked car insurance provider in your area. HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas Get a Free Quote What is the Average Cost of Car Insurance? Still, it’s good to have an idea of the average cost of car insurance per month. With this information readily at hand, you can have an idea if you’re being asked to pay more or less than the average consumer. Unfortunately, there are a significant number of factors that go into average car insurance rates — including the type of coverage you buy. For example, the average cost of full coverage car insurance is much higher than the average cost of state minimum coverage.  The cost of auto insurance premiums also varies based on the company you buy from. For example, an internal study we did on car insurance rates led to getting quotes for a 23-year-old male, a 23-year-old female, a 53-year-old male, and a 53-year-old female in Houston, Texas. All of our sample quotes were for a 2018 Toyota Camry, and for around 12,000 in driving miles per year. You can see below how the average cost for car insurance for six months of premiums varied based on the provider. State Minimum – 30/60/25 – Liability Only With Un/Under-insured Motorist and Collision & Comprehensive Progressive Auto Insurance $364 to $552 $838 to $1,356 State Farm Auto Insurance $273 to $434 $685 to $1,083 Esurance Auto Insurance $142 to $186 $283 to $485 Geico Auto Insurance $278 to $456 $714 to $1,113 Allstate Auto Insurance $372 to $462 $858 to $1,632 Note that the car insurance quotes above are only estimates, and that they don’t take additional factors like the insured’s driving history into account. They also do not take credit scores or any auto insurance discounts the driver could be eligible for into consideration. Either way, estimates from The Zebra show that the average cost of car insurance for all drivers works out to $1,483 per year, or $124 per month. However, some states tend to charge considerably higher auto insurance premiums due to various local factors including state-mandated coverage requirements. For example, a study from Insure.com shows that the average cost (per year) of car insurance premiums worked out to $2,839 in Louisiana and $2,112 in Michigan. However, average rates in the two least expensive states (Maine and New Hampshire) worked out to $858 and $885 per year, respectively. Factors that Impact Car Insurance Rates As you can probably surmise based on the car insurance estimates above, car insurance rates really can be all over the place. This is mostly because rates are based on an array of factors that can also vary widely, such as: State of residence: The state you live in plays a significant role in the average cost of auto insurance rates. For example, some states have significantly higher rates due to having a higher state minimum coverage requirement. Other states have more accidents and more uninsured and underinsured drivers in general, so rates climb higher as a result. Neighborhood factors: According to the Insurance Information Institute (III), your local area could also play a role in how much you pay for coverage. Specifically, they say consumers in urban areas tend to pay higher premiums due to higher rates of vandalism and theft. Your age: Because mature drivers tend to have fewer accidents and moving violations, older individuals get to pay less for their car insurance premiums.  Your gender: The Insurance Information Institute (III) reports that women tend to pay lower auto insurance rates since they have fewer accidents and a lower overall incidence of driving under the influence (DUI). Your car: More expensive cars are pricier to repair and replace, so car insurance rates for new vehicles are higher as a result. Driving history: Consumers with accidents or moving violations on their driving record will inevitably be asked to pay higher auto insurance rates. How often you drive: You may qualify for lower auto insurance rates if you drive your car infrequently. The cut-off for savings in this category is usually between 5,000 to 7,000 in driving miles per year. Your credit score: Auto insurance companies use your credit score to gauge your overall reliability. If your credit is poor, this could have a devastating impact on your car insurance rates. Coverage limits you select: Keep in mind that you’ll pay more for robust coverage with higher limits than you will for state minimum coverage based on where you live.  Coverage extras: There are a broad range of upgraded

[ad_1] Looking for some last minute gift ideas on a budget? Check out this list! 1. Kid’s Magazine Subscriptions — These make great gifts that keep giving all year long! Kids will be SO excited to get mail of their own throughout the year. Print a photo of the magazine they’ll be receiving, roll it up, and stuff it in their stocking! 2. Kid’s Online Educational Programs — Gift a subscription to an online program that’s both fun and educational! Some of our favorites are ABCmouse, ReadingIQ, Adventure Academy, and CodeSpark! And they’re all running holiday deals right now! 3. Craftsy Membership — Gift someone an entire year of premium online crafting classes for just $2.49! For this low price, they’ll get unlimited access to over 1500 streaming crafting classes. This is even great for kids or teens who love crafting! 4. Sam’s Club Membership — If you know someone who has been wanting to get a wholesale club membership, you can grab a GREAT deal right now! It’s such a great gift idea for someone, and it only costs $20! 5. Homemade Christmas Gifts — Check out our huge list of homemade gifts for great last-minute ideas that are meaningful and budget-friendly! You can’t ever go wrong with an intentional homemade gift for someone you love!! Merry Christmas! [ad_2] Source link

[ad_1] Vaccines, pills and data offer some Christmas cheer in face of Omicron advance [ad_2] Source link

[ad_1] Kim Potter, ex-Minnesota officer, found guilty of manslaughter in death of Daunte Wright  NBC News Kim Potter trial: Minneapolis jury finds ex-police officer guilty in death of Daunte Wright  Fox News Jury Reaches An ‘Outcome’ In The Kim Potter Trial  MSNBC Kim Potter trial: Jury deliberations head to 4th day  FOX 9 Kim Potter jury returns for fourth day of deliberations  WHIO Radio View Full Coverage on Google News [ad_2]

[ad_1] Key takeaway: Our recent Morbi channel checks suggest volumes at ~ 6.5-7/5.7 mmscmd in Nov/Dec (Mar-21: 7.7-7.8). Volumes have been range-bound in order to mitigate the exposure to high Spot LNG prices but underlying demand seems to be robust at ~ 8-8.5 mmscmd while 75% of expected new plants have already come online. Medium-term volume outlook thus remains intact while lower spot exposure (due to dip in volumes) alleviates concern on near-term margins. Maintain Buy. Morbi volumes range-bound as per agreement between GUJGA and the ceramic customers in Morbi: GUJGA had taken a sharp price hike on Feb 1, taking cumulative price hike since Aug to 70%. With Spot LNG remaining elevated at > US$ 35/mmbtu, Morbi volumes have been kept range-bound at ~ 6.5-7 mmscmd in Nov (~ 85% of Mar-21 levels of ~ 7.7-7.8 mmscmd). Our channel checks for Morbi indicate further slowdown in Dec to ~ 5.7 mmscmd: Our conversation with Morbi Ceramic Association president indicates current gas consumption at ~ 75% of pre-second wave peaks and has been accommodated by lower production and a partial shift to propane. But underlying demand remains strong according to ceramic customers as well as GUJGA mgmt: Our recent conversation with GUJGA mgmt indicates that underlying demand could be strong at ~ 8 mmscmd while Morbi Ceramic Association President expects demand to be ideally ~ 8.5 mmscmd currently absent any constraints. Indeed, ~ 75% of the 50-60 plants which were expected to come online have already been commissioned. Amid rising input costs, ceramic producers in Morbi have hiked prices by a cumulative 25-30% in three tranches. However, this has not resulted in any decline in interest for Indian tiles given costs have risen globally as well for most exporters. The last hike though did receive some pushback from importers based on our channel checks. Industrial volumes outside Morbi ~ 25% higher than pre-COVID: Industrial volumes outside Morbi has been growing ahead of expectations at ~ 2.4-2.5 mmscmd (Pre- COVID ~ 2 mmscmd). NGT-driven policy tailwind catalyst remains a key trigger here which is yet to play out creating upside optionality. Non-Morbi industrial and CNG volume growth could outpace growth from Morbi: Mgmt expects growth from industrial areas outside Morbi to outpace Morbi and this is also visible in recent trends. While contribution to overall volumes (~ 25% of industrial) is lower than Morbi, a volume growth fo > 10% is targeted in this segment with risks skewed to the upside amid upside optionalities. CNG volumes were at ~2 mmsmcd in 2QFY22 (~ 35% higher than pre-COVID) and mgmt remains confident about maintaining double-digit volume growth in this segment too. Strong pricing power has resulted in improved margin outlook: Despite the current spike in Spot LNG costs, the sharp price hikes taken by GUJGA along with some moderation in volumes (implying lower Spot exposure) keeps us comfortable on margin outlook. Inadequate APM gas allocation could lead to moderation in CNG/ residential segments. But overall EBITDA could still remain healthy given the lower 20% contribution to volumes from these segments. [ad_2] Source link

[ad_1] Today the Census Bureau‘s new home sales report came in as a missed estimate at 744,000. In addition, revisions were all negative, and the monthly supply of new homes rose. This is in contrast to the existing home sales market, which I would say is outperforming. With the recent growth in sales, the new home sales market is just OK and has been for some time. Given that, why has the builder’s confidence index risen so much in recent months? Wait, doesn’t this sound almost exactly like what I wrote last month?  The builder’s confidence has picked up for months now, and housing permits have also done better. Much of housing data has gotten noticeably better: pending home sales, existing home sales and purchase application data have all had a nice run recently. What happened this year in housing is the noticeable difference between the monthly supply data from new homes versus existing homes. The existing home monthly supply has been lower and heading lower toward the end of the year. The new home sales marketplace has had a noticeable increase and has stayed higher. The gap between the monthly supply of existing vs new homes is extremely glaring this year. The monthly supply of existing homes at 2.1 months and total inventory are collapsing again and we might see new fresh all-time lows before the spring of 2022. Now the new home sales market had a monthly supply spike this year, but it stabilized.The headline number is at 6.5 months, the key level I have talked about for years, and the three-month average is at 6.63 months. This right here requires a red flag as the three-month average is above 6.5 months. My rule of thumb for anticipating builder behavior is based on the three-month average of supply: When supply is 4.3 months, and below, this is an excellent market for the builders. When supply is 4.4 to 6.4 months, this is an OK market for the builders. They will build as long as new home sales are growing. When supply is 6.5 months and above, the builders will pull back on construction. From Census: For Sale Inventory and Months’ Supply: The seasonally‐adjusted estimate of new houses for sale at the end of November was 402,000.  This represents a supply of 6.5 months at the current sales rate. However, the difference now than what we saw in 2018 was that in 2018, mortgage rates were at 5% and monthly supply was spiking higher as new home sales were falling. The builder’s stocks were in a bear market as they were down over 20%. The 10-year yield was at 3.25% back then. Today’s new home sales marketplace is a bit different, so let’s take a look at the report. From Census: New Home Sales Sales of new single‐family houses in November 2021 were at a seasonally adjusted annual rate of 744,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 12.4 percent (±17.2 percent)* above the revised October rate of 662,000, but is 14.0 percent (±20.5 percent)* below the November 2020 estimate of 865,000. New home sales have stabilized and are trending slightly higher now. It’s not as aggressive as the exiting home sales market, but still, that stabilization has given the builders the confidence to keep pushing permits. One of the key reasons why the housing crash addicts from 2012-2019 failed badly — and ended up falling even more in 2020 and 2021 — was that we were never working from an overheated short-term credit housing boom that would be hard to sustain. This is such a critical factor in talking about housing and it does explain why America has so many bad housing crash people. It’s really hard to have a major bust when you never had a boom. Also, note that demographics are solid in America and mortgage rates are near all-time lows. You can see why I have said for many years that these are not very talented individuals but awesome professional grifters. From Census:Sales Price The median sales price of new houses sold in November 2021 was $416,900.  The average sales price was $481,700 Another big reason why the builders are so happy is that they have pricing power, and as you can see below, the median sales price in years 2020 and 2021 looks a lot different than what we saw the past few years. Just like the concern I had with home prices acceleratingin the existing home sales marketplace in 2021, this is not a forbearance crash. This type of price growth might be great for shareholders but it’s not the best for consumers. The new home sales sector is really benefiting not only from good demographics but the fact that mortgage rates fell to all-time lows in 2020 and 2021. This and the shortages of homes in the existing home sales market brought a few buyers into this sector.  A lot of smart Americans bet on the builders’ stocks doing great, and kudos to them for understanding this dynamic. I can see why the builders’ confidence is rising. Their stocks are doing well, even with my red flag up due to monthly supply on the three-month average being above 6.5 months. My best advice is that the next few months of the new home sales report might have a bit more pick-up and a drawdown on inventory. Remember, this sector gets impacted by mortgage rates the most, so if the 10-year yield does rise above 1.94% and has duration, the conversation can be different. However, today the 10-year yield is at 1.49% currently, which looks perfectly right to me. As I wrote about on April 7, 2020: When the economy is in recovery, the 10-year yield should be a range between  1.33%-1.60%. We saw that action this year and all looks right in the world to me. Have a wonderful Merry Christmas, happy holidays and best wishes for