Silver ETFs experienced a significant sell-off, plunging 15-20% on Thursday, far exceeding the modest decline in spot silver prices. This sharp divergence was attributed to the unwinding of speculative positions and potential forced selling due to margin calls, surprising investors after a recent record rally.
Nora Leerhsens speech at a City Club of Chicago luncheon comes at a critical juncture for the CTA. Until state lawmakers passed a landmark transit funding bill by the skin of their teeth last fall, the agency had spent months planning to make drastic service cuts and layoffs this year.
Exporters are urging the government to implement tax incentives and rationalize import duties in the upcoming Budget. Key demands include reduced income tax for MSMEs, reinstatement of customs duty exemptions on certain leathers, and correction of inverted duty structures in sectors like synthetic yarns and electronics to boost domestic manufacturing and export competitiveness.
