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[ad_1] Gold rate today: Gold prices for June futures on the Multi Commodity Exchange (MCX) witnessed a significant rally on Monday, soaring by Rs 1,500 or 1.4 per cent to reach an all-time high of Rs 96,747 per 10 grams.Silver May futures also followed suit, rising by Rs 693 or 0.73 per cent to settle at Rs 95,730 per kilogram.The surge comes after a muted performance last Thursday when the domestic market closed. On that day, gold June futures had settled at Rs 95,254 per 10 grams, marking a decline of 0.43 per cent, while silver May futures ended at Rs 95,037 per kilogram, down 1.26 per cent.Meanwhile, in the international commodity markets, gold prices soared to an unprecedented high of over $3,385 per ounce. This spike was fueled by a confluence of factors including a weakening US dollar, escalating […]

[ad_1] Photo: Ministry of Finance Nirmala Sitharaman, the Union minister for finance and corporate affairs has emphasized that India’s growth potential is recognised by institutions like World Bank and International Monetary Fund. India’s importance in supporting global trade was also highlighted by Sitharaman.FM Sitharaman is on a visit to US and Peru, where she would have a series of talks with CEOs from leading fund management firms and IT firms. While addressing the Indian diaspora at the Indian community centre in San Francisco, she said, ”When we say India is the fastest growing economy, and when the IMF or the World Bank recognizes that India, because of the growth potential, can be India, China, many other such countries, can be the engine to pull the world trade, which is in the negative or just about positive zone, they recognize the […]

[ad_1] International courier giant DHL has announced a temporary suspension of package deliveries exceeding $800 in value from companies to individual recipients in the United States, citing delays triggered by recent changes to US customs regulations.In a statement, DHL said, "As a result of recent US Customs regulatory updates, we are experiencing multi-day transit delays to the US from any origin for shipments with a declared customs value exceeding $800."The regulatory change, implemented on April 5, lowered the threshold for mandatory formal customs processing from $2,500 to $800. This has led to a surge in clearance requirements and delays in international shipments to the U.S.Shipments under the $800 threshold remain unaffected, regardless of whether they are destined for businesses or consumers. Business-to-business (B2B) shipments over the new threshold will also continue but may also experience processing delays.DHL emphasized that the […]

[ad_1] MUMBAI: Sebi has received suggestions from industry experts that the markets regulator introduce tests for investors before being allowed to trade in risky derivative products to safeguard them.Similar systems are in practice in Singapore, Hong Kong, the EU.The proposals were sent to Sebi after the regulator last month published a consultation paper on proposed changes to rules for trading in the equity F&O segment of the market. April 17 was the last day to send comments on those proposals.The reasoning here is that, rather than targeting the whole industry with stricter rules to protect retail investors, Sebi could, with the right training, make it safer for them to get into risky futures & options (F&O) products, sources said.One of the main concerns of the commentators on the paper was that while the proposals could protect retail investors, they could […]

[ad_1] BELAGAVI/BENGALURU: Intel has promoted its networking chip head Sachin Katti to be its chief technology officer and AI chief, Reuters reported citing an internal memo. The elevation comes at a time when Intel's new CEO Lip-Bu Tan is flattening the firm's leadership team.Before joining Intel, Katti founded Uhana, a startup working on bringing real-time AI to mobile networks, which was acquired by VMware.At Intel, Katti served as the SVP and general manager of network and edge group. In this role, he led initiatives to advance product excellence across network infrastructure and intelligent edge solutions.The Belagavi boy, who was born in a family of doctors, is based in the US with his wife, Seema, and their two children. After graduating from IIT-Bombay in 2003, Katti went on to Massachusetts Institute of Technology (MIT), where he obtained his MS and PhD […]

[ad_1] Chinese President Xi Jinping with US counterpart Donald Trump China on Monday said that they firmly opposes any nations reaching a deal with the United States at the expense of Chinese interests and vowed to take "countermeasures" if interests are compromised. The statement came on Monday after reports that Donald Trump may offer tariff exemptions to other nations in return for limiting their trade with China."China firmly opposes any party reaching a deal at the expense of China's interests," a spokesperson for Beijing's commerce ministry said in a statement."If such a situation occurs, China will never accept it and will resolutely take reciprocal countermeasures," they added.While global markets face a general 10 percent tariff, Chinese products are subject to duties reaching 145 percent. In response, Beijing has imposed 125 percent tariffs on American goods.Several nations are currently in discussions […]

[ad_1] NEW DELHI: Markets regulator Sebi has said it found "no manufacturing activity" at Gensol Engineering's electric vehicle plant in Pune, when an NSE official visited the site.These revelations were part of markets regulator Sebi's interim order issued on April 15 following a complaint received in June 2024 alleging manipulation of Gensol's share price and misappropriation of funds.In its order, Sebi found discrepancies as well as misleading disclosures to investors by Gensol Engineering, a company promoted by brothers Anmol Singh Jaggi and Puneet Singh Jaggi."It was found that there was no manufacturing activity at the plant with only two-three labourers present there. The NSE official called for details of electricity bills of the unit and it was observed that the maximum amount billed by Mahavitaran during the last 12 months was Rs 1,57,037 for Dec 2024. "Hence, it can be […]

[ad_1] MUMBAI/NEW DELHI: Predictions of a healthy monsoon and easing retail inflation will spur demand in consumer segments, such as FMCG, two-wheelers, cars and tractors as the crucial rural economy will gain strength, while positivity spills over to the broader economy and urban centres, company executives and experts say.The upbeat mood builds up even as the industry remains cautious of the outcome of India's trade talks with the Trump administration, which - if successful - will be an added impetus to growth.Sluggish spending over past few quarters has weighed in on consumer businesses. Even as rural purchases have stayed steady, consumer goods companies and retailers struggled with slow demand in urban areas, where lower middle-class cut discretionary spends over inflationary concerns."The last two quarters have seen significant slowdown, impacting consumption, owing to overall inflation as well as other macro-economic factors. […]

[ad_1] The trade war is providing a boon for Asian consumer stocks, as investors take shelter in companies that cater to local buyers' essential needs.Strategists at Goldman Sachs recommended Asian consumer staples in reports released after the April 2 tariff barrage, urging investors to turn defensive. [ad_2] Source link

[ad_1] BENGALURU: India's deeptech ecosystem - comprising startups in AI, spacetech, advanced manufacturing, and semiconductor design - added over 480 new ventures in 2023, up two times the previous year. The cumulative base now stands close to 4,000.In 2024, the sector experienced a remarkable surge in funding, with investments rising by 78% compared to the previous year. The sector's expansion was fuelled by supportive govt policies, rapid advancements in generative AI and breakthrough innovations from emerging companies, says a report by Nasscom and Zinnov.The report says top 10 deeptech startup funding rounds in 2024 accounted for about $600 million of total deeptech funding, which stood at $1.6 billion. Of these top 10, all but one were AI-powered software platforms solving for different use cases.These deeptech startups not only attracted more funding but also commanded higher investor confidence, with median ticket […]