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When India imports goods (such as gold), it pays for it in dollars. The more a product is imported (both in value and quantity), the more the requirement for dollars. (AI image) Gold may be a safe haven asset but India’s love for the yellow metal is adding pressure to its foreign exchange reserves buffer…
As rupee continues to breach multiple record lows, pressure on India’s balance of payments is growing. To protect foreign exchange reserves and help stabilise trade balance, Prime Minister Narendra Modi has urged people to cut down on gold purchases.But if not buying new gold, could household gold be turned into working capital instead?PM Modi’s call…
A day after Prime Minister Narendra Modi urged Indians to stop buying gold for a year in the national interest, GTRI backed the appeal, saying surging gold imports are straining India’s foreign exchange reserves and widening its trade imbalance. In its report, the think tank said, “GTRI has supported Prime Minister Narendra Modi’s appeal asking…
HYDERABAD/NEW DELHI Amid global energy supply disruption, PM Narendra Modi on Sunday urged people to use public transport and revive work from home to reduce dependence on petrol and diesel – which largely come from imported crude – and conserve foreign exchange by avoiding overseas weddings and vacations as well as unnecessary gold purchases.The suggestions,…
US President Donald Trump’s “Gold Card” visa scheme is struggling to win over the wealthy foreigners it was designed to attract, with several immigration lawyers warning clients to stay away from the programme over legal and financial concerns.According to a Washington Post report, attorneys who advise ultra-wealthy clients say ongoing litigation, tax complications and uncertainty…
Mark Zuckerberg, CEO, Meta The US-China trade war is back, and in full steam. There have been two parallel moves in the recent weeks, marking a significant escalation of the US-China AI war. In the latest move, China’s industry regulator has asked Facebook-parent Meta to withdraw a $2 billion acquisition transaction of Singapore-based AI company…
Millions of graphene-based toothbrushes have already reached consumers, long before scientists fully understood how the material actually works. Now, new research from the Korea Advanced Institute of Science and Technology (KAIST) has clarified the mechanism behind graphene oxide’s antibacterial properties. Led by Sang Ouk Kim and Hyun Jung Chung, the study shows that graphene oxide…
If you are planning to buy gold jewellery worth more than Rs 2 lakh or open a demat account without a PAN, the new income tax framework has an important update for you. From April 1, old Form 60 has been replaced by Form 97, but PAN remains compulsory for several high-value purchases and financial…
The Centre on Tuesday said it has ensured 100 per cent supply for domestic LPG consumers, Piped Natural Gas (PNG) users and Compressed Natural Gas (CNG) transport services despite the ongoing Middle East crisis, while urging people not to indulge in panic buying.Addressing an inter-ministerial briefing, Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) in…
NEW DELHI: With energy supplies still tight amid the West Asia conflict, India is securing LPG cargo through spot purchases to meet demand for cooking gas cylinders among households as well as commercial establishments.People aware of the development said state-run oil marketing companies (OMCs) have tied up with the US to bridge the supply shortfall….
