Gold could rally 10% from Wednesday record high of Rs 50,000 plus: Kotak Bank official

Gold could rally 10% from Wednesday record high of Rs 50,000 plus: Kotak Bank official

Gold of 995 purity (24 carat), which hit a record high of Rs 50,392.75 per 10 gm on Wednesday including taxes, could rally another 10% in the next six-nine months, said Shekhar Bhandari, global transaction banking head, Kotak Mahindra Bank. “Rising US-China trade tensions, negative real rates by central bankers and fallout from Covid would … Read more

PM Modi to deliver inaugural address at India Global Week 2020 on Thursday

PM Modi to deliver inaugural address at India Global Week 2020 on Thursday

NEW DELHI: Prime Minister Narendra Modi will deliver on Thursday the inaugural address at the India Global Week 2020, a virtual conference being organised in the UK, which will also feature a “never-seen-before” performance on the Aatma Nirbhar Bharat campaign, the Prime Minister’s Office said. Themed ‘Be The Revival: India and a Better New World‘, … Read more

Nasscom launches platform to promote partnerships between India and US

Nasscom launches platform to promote partnerships between India and US

BENGALURU: The National Association of Software and Services Companies (Nasscom) has launched Nasscom Launchpad in New Jersey, to promote cross border trade through partnerships. Through this platform, jointly with VentureLink@NJIT and Choose New Jersey, Nasscom aims to facilitate partnerships between New Jersey and India and promote technology-based foreign direct investment between the two regions. So … Read more

ICICI Bank to raise Rs 15,000 crore through share sale

ICICI Bank to raise Rs 15,000 crore through share sale

Mumbai: Private lender ICICI Bank said its board has approved plans to raise Rs 15,000 crore through a share sale. The lender said that its board has approved such fundraising in one or more tranches, through means such as private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof. Over the … Read more

Sebi, CBDT ink MoU for data exchange

Sebi, CBDT ink MoU for data exchange

Mumbai: The Securities and Exchange Board of India (Sebi) said on Wednesday it has signed a memorandum of understanding (MoU) with the Central Board of Direct Taxes (CBDT) for data exchange between the two organizations. The MoU, which comes into force immediately, will facilitate the sharing of data and information between CBDT and Sebi on … Read more

Cabinet approves distribution of free foodgrain till November

Cabinet approves distribution of free foodgrain till November

NEW DELHI: The Union Cabinet on Wednesday approved extending the scheme for distribution of free food grains to the country’s poorest until the end of November to help them cope with the economic pain of the coronavirus-induced lockdown. Briefing reporters about the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Information … Read more

China out of India’s proposal to protect small fishermen at WTO talks

China out of India’s proposal to protect small fishermen at WTO talks

NEW DELHI: India’s latest proposal on capping fisheries subsidies at the World Trade Organisation (WTO) keeps China out of the list of developing countries which are exempt from the prohibition of subsidies to large fishing vessels. As per the proposal, a developing country is not eligible for the exemption if its GNI per capita crosses … Read more

Rupee slips 9 paise to close at 75.02 against US dollar

Rupee slips 9 paise to close at 75.02 against US dollar

Mumbai: The rupee depreciated 9 paise to settle at 75.02 (provisional) against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency. While foreign fund inflows supported the rupee, factors like strong dollar, volatile domestic equities and rising COVID-19 cases dragged the local unit down, Forex traders said. … Read more

Gold one of the safest bets for next 5 years: Julius Baer

Gold one of the safest bets for next 5 years: Julius Baer

Absence of new economy stocks a big hindrance for Asia markets outside of China, says Mark Matthews, Head of Research, Asia. I am literally pinching myself. Look at what we were reporting in the month of March versus what we are staring at right now. In March, it was panic and it was fear and … Read more

Entire police station under scanner over Kanpur ambush; 68 personnel shunted out

Entire police station under scanner over Kanpur ambush; 68 personnel shunted out

KANPUR | LUCKNOW (UP): All 68 police personnel at Chaubeypur police station near here were shunted to the reserve police lines on Tuesday with the top brass saying they suspected their integrity after last week’s ambush which killed eight policemen. A spokesperson said an inquiry is already on and action will be taken against the … Read more