Moderate demand for gold

Mumbai/Bengaluru: Physical gold demand was moderate this week amid an improvement in retail purchases before the festival season despite an increase in domestic prices, while top consumer China saw a slight uptick in activity.

Gold futures were trading around 30,272 rupees per 10 grams on Friday, up about 3.7 percent from a more than seven-month low touched on 17 August.

The price gains came amid a plunge in the rupee, which fell to a record low against the dollar on Friday.

“Retail buying has read more

Use India Post Payments

Chennai: Defence Minister Nirmala Sitharaman on Saturday appealed to people to make use of the India Post Payments Bank (IPPB) to reap the benefits offered by the Centre and state governments.

After formally launching the scheme in Tamil Nadu, Sitharaman said the Opposition was saying that the prime minister was going on launching various schemes like the Pradhan Mantri Jan Dhan Yojana and Mudhra Loans. “All these (schemes) are linked together. He wants the benefits also to reach the poor read more

what’s going on in the economy

India’s economy grew at 2-year high of 8.2 percent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world’s fastest-growing major economy.

The Gross Domestic Product (GDP) at constant prices (2011-12) had grown at 5.6 percent in the April-June quarter of last fiscal, according to government data released on Friday.

Representational image. Reuters.Representational image. Reuters.
The read more

HPCL to finalise 10 licensors

Mumbai: ONGC-owned state-run oil marketer Hindustan Petroleum (HPCL) will award the licensor agreements this week to 10 of the 12 vendors it needs for the upcoming Rs 43,130-crore project Barmer refinery in Rajasthan.

Prime Minister Narendra Modi had laid the foundation stone for the 9-million tonne or 1.8 lakh bpd greenfield refinery at Pachpadra village in Barmer district of Rajasthan being set up in a 75:25 joint venture with the state administration. It is slated to be completed by end-2020.

The read more

On Engineer’s Day

When Sir M Visvesvaraya (or Sir MV as he’s widely known in Karnataka) took over as the Diwan of Mysore on 10 November, 1912, from his predecessor T Ananda Rao, there was widespread joy and celebration in the then Mysore State (now Karnataka). Here’s how the legendary DV Gundappa, for many years a close confidante of Sir MV, describes the event in his profile of Sir MV:

The common people who were far removed from political aims and aspirations greeted the new Diwan with enthusiasm. Their joy read more

Argentina IMF deal coul

By Luc Cohen

BUENOS AIRES (Reuters) – As Argentina drafts plans to cut its budget deficit to convince nervous investors it can pay its debts, President Mauricio Macri is under increasing pressure to reverse one of his signature policies, cutting farm export taxes.

Treasury Minister Nicolas Dujovne promised to announce measures on Monday to reduce the South American country’s 2019 primary deficit – its borrowing needs before debt servicing – in an effort to stem the slide read more