Mumbai: Physical buying of gold in India, the world's biggest buyer of the yellow metal, abated after a brief pick-up in the previous session, as prices recovered from their lows, dealers said. Gold in overseas markets traded at $1,657.89 an ounce, recovering 1.61 per cent from previous day's low of $1,631.70. Gold on the Multi Commodity Exchange traded at 28,605 rupees per 10 grams. "Yesterday evening there was some activity...
05:49 AM, Apr 12, 2012
Mumbai: Jewellers from Zaveri Bazaar, a major hub for jewellery industry, who opened their shops for the first time on Monday after a 21-day strike saw a muted response from buyers with footfalls nowhere near their expectations. "We expected the demand to be very high as the shops were closed due to the strike. However, the footfalls are much less than our expectations," Kumar Jain of Umedmal Tilokchand Zaveri told....
03:37 AM, Apr 10, 2012
New Delhi: Jewellers across India, except in Mumbai, have called of their strike after UPA Chief Sonia Gandhi and Finance Minister Pranab Mukherjee promised to look into their demands. The significant lobby includes 10,000 jewellers associations, Bullion Traders and Market Sarafa associations and diamond traders. The unions were on strike since March 17, demanding that the government roll back 1 per cent excise duty on unbranded jewellery, 4 per cent...
06:53 AM, Apr 07, 2012
Mumbai: Gold imports are unlikely to rise immediately as the spurt in demand on account of 21-day stir by bullion traders will be met by existing stocks, Bombay Bullion Association on Friday said. "Jewellery manufacturing was completely stopped during the 21-day strike. Therefore, there is an inventory of 5-10 tonnes of gold, which will be used to fulfill the demand. So, we feel import is not likely to rise," Bombay...
02:39 AM, Apr 07, 2012
Release seven Maoists within 96 hours or the Italian hostage will be killed, says Sabyasachi Panda. ...
10:18 PM, Apr 06, 2012
New Delhi: Jewellers called off their 21-day strike on Friday after meeting Congress President Sonia Gandhi and Finance Minister Pranab Mukherjee on Friday. The jewellers' strike has been called off till Parliament takes a final decision on the excise duty hike on non-branded jewellery and import duty hike on gold. Sources say the Centre is likely to drop one per cent excise duty on non-branded jewellery. An indication that some...
03:17 PM, Apr 06, 2012
New Delhi: Jewellers are likely to call off their 21-day strike, according to sources. The breakthrough came after the jewellers' meeting with Congress President Sonia Gandhi and Finance Minister Pranab Mukherjee on Friday. Sources say the Centre is likely to drop one per cent excise duty on non-branded jewellery. An indication that some of the demands may be met came as Congress President Sonia Gandhi assured jewellers their concerns will...
01:29 PM, Apr 06, 2012
New Delhi: Congress President Sonia Gandhi met protesting jewellers on Friday and assured them that the government would address their concerns. The community's nation-wide strike has entered its 21st day. Some of the jewellers who met Sonia, however, said that they were not satisfied with the meeting as they haven't been given a strong assurance. A meeting of jewellers is also scheduled with Finance Minister Pranab Mukherjee. They are demanding...
11:50 AM, Apr 06, 2012
New Delhi: Centre is likely to roll back excise duty hike on gold and non-branded jewellery, according to sources. This came after Congress President Sonia Gandhi stepped in as jewellers' protests against excise and import duty hikes spread. Congress President Sonia Gandhi met jewellers on Friday and has assured them of a relook into their demands regarding a rollback. The jewellers strike has entered the 21st day on Friday. Hoping...
10:05 AM, Apr 06, 2012
New Delhi: The jewellers' strike enters the 21st day on Friday and there's still no sign of a solution. However, hoping to find one soon, Finance Minister Pranab Mukherjee will be meeting with members of the jeweller community on Friday. Pranab met a few of them on Thursday as well, along with RJD Chief Lalu Prasad. The jewellers across the country are demanding a complete rollback of excise duty on...
06:42 AM, Apr 06, 2012
Mumbai: In an effort to break the deadlock over the recent hike in duties affecting the gems and jewelery industry, Union Finance Minister Pranab Mukherjee will meet industry representatives in New Delhi on Friday, an official said on Thursday. "The meeting has been called to discuss the issue of rollback of excise duties, TCS and customs duties levied in the latest union budget. We shall make all efforts to convince...
01:08 AM, Apr 06, 2012
New Delhi: Former Railway Minister and Rashtriya Janata Dal chief Lalu Prasad met Finance Minister Pranab Mukherjee on Thursday along with a group of jewellers in New Delhi to demand a roll back of excise duty on unbranded jewellery and hike in import duty on gold. After meeting Pranab Mukherjee, meet Lalu said that the Finance Minister assured the delegation that he would look into their concerns. "The Finance Minister...
04:00 PM, Apr 05, 2012
Mumbai: Amid widespread protests by bullion traders, Finance Minister Pranab Mukherjee has called a meeting with jewellers' associations on Friday to sort out the issue related to increase in taxes on gold and non-branded jewellery. Protests against the Budget proposal to impose excised duty on jewellery have turned violent in Mumbai, Ahmedabad, Punjab and Delhi. The jewellers' associations which includes the Bullion Traders Association, Market Sarafa Association and diamond traders...
06:06 AM, Apr 05, 2012
Ahmedabad: Anti-corruption activist Anna Hazare has backed jewellers in their fight against the government's decision to hike excise duty. "Whatever decision taken is not right, this decision is not in favour of the people. We are ready to give excise and VAT but the clause in excise duty is misleading. I will study and write to Pranab Mukherjee," Hazare said. Meanwhile, police lathicharged jewellers in Ahmedabad who were blocking National...
12:23 PM, Apr 03, 2012
Finance Minister Pranab Mukherjee had announced a two percentage point hike in the peak excise duty from 10 per cent to 12 per cent. ...
08:29 PM, Apr 02, 2012
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