Where Dreams Come True.....
After almost 11 months of parleys, the World Trade Organization (WTO) on Thursday signed the trade facilitation agreement (TFA) and agreed to India’s demand for a perpetual ‘peace clause’ till a final solution to the issue of food stockholding is found. The decisions were taken at a ‘special’ meeting of the WTO General Council (GC), the highest decision-making body after ministerial conferences.
Following tense negotiations and last-minute hiccups due to oppositions from Argentina and Pakistan, the GC adopted three main decisions — signing of the TFA protocol, extension of the ‘peace clause’ for an indefinite period and setting a deadline for the remaining Bali package commitments for poorer countries. “With Thursday’s decision, our chances of getting a permanent solution to the food stockholding issue gets a massive boost. Now we do not have to beg for it. We are now in a position to negotiate an optimum solution,” an official involved in the talks told Business Standard.
WTO had not issued an official statement till the time of going to press.
The breakthrough came after India and the US earlier this month reached an understating where the Americans assured support to India’s demand for a permanent ‘peace clause’ and, in turn, India agreed to sign the TFA, which it had vetoed in July
The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut oil production, despite sliding oil prices.
Brent crude oil fell more than $3 to under $75 a barrel—a fresh four-year low—on the news while West Texas Intermediate (WTI)—dropped below $70. Global oil prices have plunged since peaking in June, and Brent crude has lost around a third of its price from $115 a barrel.
Yessss Some One predicting
Oil could plummet to $35 a barrel next year if OPEC doesn't reach an agreement by the spring, oil price tracker Tom Kloza said Wednesday.
The founder of Oil Price Information Services that he expects at least a "lip service agreement" from OPEC members Thursday, when they meet to discuss output, but the members will largely ignore it, creating a bigger crisis in about six months.
"When you look at the second half of 2015, that's when you see oil beginning to dwarf demand by about a million, a million and a half barrels a day," he said. "Thirty-five dollars is a possibility if they don't get an agreement next spring because that's when the oil really starts to build and you can have a billion barrels of oil with really no place to put it."
Kloza said OPEC ministers may agree this week to cut production by 750,000 to 1 million barrels per day, but members will likely produce all they can, and there will be no compliance with the accord, except from the Saudis, Kuwaitis and the United Emirates.
Opininon for Today's Market......
1.All Eye's On GDP Data....
2.Market Looks Good...
Nifty Close 8494.20
Market Pattern ---- Buy On Dips
Up Side Entry Point 8511 Trade Above 8511 & Stay
( 10 -15Minutes)
Next Level 8524-----8535------8554------SL 8490
Down Side Entry Point 8478Trade Below 8478 & Stay
( 10 -15Minutes)
Next Level 84465---84443----8434----SL 8498