Amritsar: Punjab Deputy Chief Minister Sukhbir Singh Badal on Friday approved the revised City Master Plan that aims to transform Amritsar into a world class city. Badal made a detailed review of all projects after he was given presentations by PWD, Municipal Corporation, Water Supply and Sanitation, Tourism and other departments regarding the progress of their ongoing projects. He expressed displeasure when he learnt that two agencies have laid parallel...
02:08 AM, Jun 15, 2013
New Delhi: Finance Minister P Chidambaram announced on Thursday that the government plans to announce more economic reforms soon. He asked people to not panic saying the economy is recovering. "Economy is stronger than what it was this time last year. Inflation too is low," the Union Minister said. Chidambaram also said that the government was planning to announce a review of the foreign direct investment (FDI) limits as also...
11:12 AM, Jun 13, 2013
New Delhi: Both the precious metals, gold and silver, on Tuesday surged on stockists buying as weak rupee raised concerns of increase in import costs. While gold spurted by Rs 415 to Rs 28,515 per 10 grams, silver surged by Rs 905 to Rs 44,690 per kg on rising demand from industrial units and coin makers. Traders said a weak rupee would make the import of the precious metals in...
05:35 PM, Jun 11, 2013
New Delhi: Gold worth at least Rs 70 lakh was seized by customs officials in three separate incidents at Indira Gandhi International Airport here and two persons were arrested in this connection. Customs officials said they found gold bars weighing 448 gms outside a washroom at the airport, which may have been dumped following tightening of vigil. They said CCTV footage was being examined to find the culprits. In the...
08:10 PM, Jun 10, 2013
New Delhi: Tracking a weak trend overseas, both gold and silver prices today fell in the national capital on reduced offtake and decline in industrial demand. While gold prices tumbled by Rs 300 to Rs 28,000 per 10 grams, silver dropped by Rs 1,500 to Rs 43,600. Traders said fall in demand at prevailing higher levels and a steep fall in gold prices in the international markets mainly pulled down...
04:48 PM, Jun 08, 2013
Mumbai: Reserve Bank of India has extended the restriction on advance against gold on co-operative banks as well, a move aimed at curbing demand for gold. In a notification, the RBI said while granting advance against the security of specially minted gold coins sold by banks, state/central co-operative banks "should ensure that the weight of the coin(s) does not exceed 50 grams per customer'. Also the amount of loan to...
02:40 PM, Jun 07, 2013
Mumbai: The Reserve Bank of India has advised banks against selling gold coins to retail customers, Finance Minister P Chidambaram said on Thursday, a day after he raised gold import duty to try to ease pressure on India's bloated current account deficit. "I think the Reserve Bank has advised banks that they should not sell gold coins," said Chidambaram, while speaking at an event in Mumbai. He also urged banks...
05:10 PM, Jun 06, 2013
New Delhi: Gold futures prices on Thursday fell by 0.39 per cent to Rs 27,771 per 10 grams as participants indulged in reducing exposures, after the government raised import duty on the metal to 8 per cent amid a weak trend overseas. Analysts said sentiments turned weak after the government on Wednesday night hiked the import duty on the metal to 8 per cent, up by 2 per cent, in...
01:15 PM, Jun 06, 2013
New Delhi: With spiralling gold imports putting huge pressure on the Current Account Deficit, the government on Wednesday night hiked the import duty on the metal to 8 per cent, up by 2 per cent, in a bid to rein in demand. "The import duty on gold has been increased from 6 per cent to 8 per cent," Revenue Secretary Sumit Bose said. This is the second hike in the...
09:37 PM, Jun 05, 2013
Bangkok: Defending champion Saina Nehwal and rising star Arundhati Pantawane advanced to the pre-quarterfinals of Thailand Grand Prix Gold badminton tournament after notching up contrasting wins in women's singles competition here on Wednesday. World No 2 Saina didn't break much sweat as she prevailed over Shih Han Hung of Chinese Taipei 21-11, 21-16 in a 29-minute match here. The 23-year-old from Hyderabad will next take on Febby Angguni of Indonesia...
07:04 PM, Jun 05, 2013
Mumbai: The Reserve Bank of India on Tuesday extended the restrictions on gold import to other agencies in addition to banks, a moved aimed at curtailing demand for the precious metal for domestic use amid widening current account deficit. "It has now been decided to extend the provisions (of May 13 circular) to all nominated agencies/ premier/ star trading houses...accordingly, any import of gold on consignment basis by both nominated...
04:59 PM, Jun 04, 2013
Johannesburg: A South African academic of Gujarati-origin has been awarded a gold medal by a university in Johannesburg for his service to the institution and for contribution to the development of his hometown of Azaadville. Prof Kantilal Naik received the award from Wits University, where he is the Honorary Adjunct Professor in the School of Computational and Applied Mathematics. The university also hailed Naik's service to Azaadville community and surrounding...
03:18 AM, Jun 04, 2013
New Delhi: The Finance Ministry on Monday said the government could take more steps to reduce gold imports, which may include banning sale of the yellow metal by banks. "More steps will have to be taken to reduce gold imports. Export import policy on gold will have to be reviewed. May consider banning gold coin sale by banks," Department of Economic Affairs Secretary Arvind Mayaram said. He was talking to...
08:07 PM, Jun 03, 2013
Ahmedabad: Four persons were arrested on Friday for allegedly beating up a BJP councillor on suspicion that he was behind the demolition of an illegal construction, police said. Kaushik Jain, who represents Shahpur Ward, was allegedly attacked on Thursday by Chandresh Vyas (44), Sanjay Vyas (28), Nirav Joshi (28) and Hiren Patel (35) when he was on his way to attend a function, they said, adding the accused snatched Jain's...
12:20 AM, Jun 01, 2013
New Delhi: Achint Babbar swam against the odds to win the gold medal for India at the Special Olympics. He is an inspiration for every child with special needs. Agility, rigorous training and years of hard work - all are prerequisites to become a swimming champion, but for Achint Babbar, it also meant having lots of grit to overcome his disability. As the 23-year-old takes confident laps in the pool,...
09:39 AM, May 31, 2013
Mumbai: The Reserve Bank of India will take into account macro economic factors and "more importantly" the current account deficit for policy decisions, Governor Duvvuri Subbarao said on Thursday. He also said high current account deficit is leading to the rupee weakening. India's current account deficit widened to a record high 6.7 per cent of GDP in the December quarter, driven by heavy oil and gold imports and muted exports,...
06:15 PM, May 30, 2013
Pune: The Reserve Bank on Tuesday ruled out a ban on the sale of gold by banks but asked lenders to refrain from aggressively selling the precious metal. RBI Governor D Subbarao told reporters here that the RBI did not intend to ban sale of gold coins by banks. "We do not want banks to aggressively market gold. We do not want that to become a business. Gold loans are...
10:24 PM, May 28, 2013
Mumbai: In a bid to curb demand for gold, the Reserve Bank on Monday imposed restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs and mutual funds. "...it is advised that while granting advance against the security of specially minted gold coins sold by them, banks should ensure that the weight of the coin does not exceed 50 grams per customer,"...
10:40 PM, May 27, 2013
London: One needs to relax to look good, says actress Goldie Hawn, revealing her beauty secret. "A rested face is a beautiful face. However, you can find your place of rest and peace," contactmusic.com quoted the 67-year-old actress as saying. The actress is not against cosmetic surgery as she believes it is something very personal. "It's very, very personal. You just have to do what makes you feel good," she...
04:10 PM, May 26, 2013
