Spot gold was down 0.3 per cent at $1,263.96 an ounce at 1244 GMT but off a low of $1,261.36, its weakest level since December 20. It has lost more than 7 per cent since an April high above $1,365 an ounce. Higher interest rates would typically see investors divest gold, which earns nothing and costs money to store and insure. A rising US currency makes dollar-denominated commodities more expensive for holders of other currencies, potentially subduing demand for metals.
In the presence of visitors and families, the couples exchanged garlands and performed wedding rituals. Out of the 42 couples, four were Muslim and the remaining 38 belonged to Hindu religion. Spreading a message of diversity, all the couple's exchanged the vows under the same roof. The event has been organised with great pomp and show here under the Chief Minister's mass marriage scheme. I have met all the 42 couples and wish them a happy married life ahead, Rana said.
The Reserve Bank on Thursday indicated to the finance ministry that its February 12 circular on new framework for stressed assets provides enough space for resolution of bad loans in the power sector, according to a senior official. The RBI made its stand clear at a stakeholders' meeting, called by the ministry to discuss the circular, the implementation of which was stayed for the power sector by Allahabad High Court.
ICICI Bank may adopt a system of having a rotating chairman to head board meetings until a full-time chairman is in place. Current chairman MK Sharma will retire this month-end. According to sources, the board will nominate an independent director as chairman for its next meeting after Sharma's term comes to an end. The final report could take months rather than days considering that allegations pertain to transactions more than a decade old.
There have been several cases of gangs looting money from ATMs after they manage to gain access to ATM pins or OTPs of victims. This time the property cell of Mumbai crime branch arrested a gang who stole crores of rupees from bank accounts without PIN numbers or OTPs. The gang managed to steal money from ATMs by cloning cards. They managed to steal over Rs 40 crore since 2013.
The Centre plans to scrap cash incentives currently offered to buyers of electric cars despite having incentivised these clean fuel technologies till just a few months back. The move, experts said, will further dampen sales of private electric cars. Official sources said the government seeks to withdraw the cash incentives for private electric cars because it neither makes a substantial difference in promoting sales nor serves the purpose of a clean environment.
With ICICI Bank chairman M K Sharma set to retire at the end of this month, the bank is considering asking independent directors to chair board meetings till a new chairman is appointed. Sources say each of the six independent directors will take turns in chairing the meetings. The bank has government nomineeLok Ranjanon the board, who has not attended a single meeting since his appointment in April.
Public Works Minister HD Revanna assured here on Thursday that potholes on roads caused by the heavy downpour across the state would be filled in the next fortnight. The Public Works Department would wait for a while in areas with high rainfall. Speaking to reporters here, Mr Revanna said the government would fill the potholes at a cost of around Rs 25,000 per km and other road repair would be taken up after the monsoon.
Vishal Sikka has been invoked again, but not in connection with Infosys or Panaya this time. Teradata alleged that SAP quickly developed and released HANA, SAP's flagship database offering, by misappropriating Teradata's Intellectual Property. HANA helped SAP to revive its product offerings in the market and Sikka was considered the brand behind the analytics platform. The lawsuit said that key SAP employees including Sikka were aware of and supported SAP's misappropriation of Teradata's trade secrets during the development of HANA.
Sources say some residents of Sindagi recall Parashuram downloading 'anti-Hindu' speeches of leaders like Gauri Lankesh from Youtube and posting hardcore pro-Hindu views on his Facebook wall but they don't believe he could have killed her. He is certainly not someone who would take such an extreme step, although he did believe in hardcore Hindutva ideology.
The passport official who humiliated an inter-faith couple who had applied for a passport in lucknow has been transferred on the directives of the ministry of external affairs and has also been served a show cause notice. The couple was called to the passport office on Thursday and handed over their passports. The couple on Wednesday tweeted their ordeal and tagged external affairs minister Sushma Swaraj. Regional passport officer Piyush Verma said a show cause notice has been issued to the officer.
Setting a record in wildlife conservation history, forest officers have successfully trans-located a tiger from Kanha National Park in Madhya Pradesh to Satkosia reserve forest in Odisha. The male tiger weighing 195 kg was captured in the National Park and then tranquilised before being transported to Satkosia tiger reserve in a specially designed cage. This was the first time in the history of wildlife conservation a big cat from a tiger reserve was successfully translocated to another state for reintroduction.
When bank technicians in India were finally summoned to investigate why an ATM had not been working for days, they began to smell a rat. We have started an investigation into this rare incident and will take measures to prevent a recurrence. Most ATMs in India have a closed-circuit camera installed for enhanced security. An inspection of the camera footage at the ATM in Tinsukia turned up no rat entering it, Sharma said.
The latest Panama data does not contain details of any such account. Instead, the new documents show that Kejriwal was introduced to Mossack Fonseca by officers in the trade finance department of BNP Paribas (Suisse) SA. Fresh email exchanges between Mossack employees reveal how Kejriwal's societies were named in the Panama Papers. Mossack records show that Kejriwal and his wife set up their first company in the BVI in 2007.
Lionel Messi and his Argentina teammates are on the verge of World Cup elimination. Argentina was handily beaten by Croatia 3-0, a loss that makes advancement very difficult with only one group match remaining. Croatia frustrated Argentina throughout the match and never gave Messi space to operate. Argentina has won two World Cups - the last in 1986 - but has not won any major title in 25 years. Croatia, a 1998 World Cup semifinalist, reached the knockout stage for only the second time.
THE REGULATORY heat generated by the Panama Papers leak prompted law firm Mossack Fonseca to resign from various offshore firms it helped set up, but one Indian client continued to urge the law firm to stay on, new records show. On April 4, 2016, when The Indian Express reported on Moonglow during the Panama Papers leak, Sorabjee said he had complied with all disclosure norms as required by Indian tax authorities.
The revenue department, which notified the rate changes, however, spared high-end motorcycles from a duty increase, a move that will benefit Harley-Davidson. A team from the US is expected to hold deliberations with Indian authorities next week to sort out niggling trade issues. In a notification in May, the government had said that the additional levy would be effective Thursday. On Thursday, the revenue department notified the new tariffs on 30 products, effective August 4, for goods originating from the US.
The meeting with dissident leaders with Congress chief Rahul Gandhi also came up for discussion. AICC secretary V Hanumantha Rao asked how the dissidents had gone to Delhi without informing TPCC president Uttam Kumar Reddy. Reacting to this, Telangana CLP deputy leader Ponguleti Sudhakar Reddy said anyone can go to Delhi to meet high command and said this was a mark of Congress democracy. She said without informing her, the TPCC had admitted Mahb-ubnagar leaders Nagam Janardhan Reddy and A Revanth Reddy in the party.
The meeting of the drone task force was chaired by MoS Civil Aviation Jayant Sinha (File) New Delhi: The government today announced the formation of three committees to help a task force set up in April to prepare a road map for implementing the drone technology in the country. Members of the task force such as Civil Aviation Secretary R N Choubey, Director General of Civil Aviation BS Bhullar, Airports Authority of India Chairman Guruprasad Mohapatra among others attended the meeting.