Topic: Gold
Former Bengaluru techie arrested for chain-snatching has more than 70 cases against him
The Peenya Police have recovered Rs 3.7 lakh worth of gold chains and 15 SIM cards from the accused, Jayakumar, who used to work with a multinational software company.
Don’t worry, the world is a long, long way from running out of gold
While issues of mine depletion are real, high gold prices like those we’re seeing today will encourage more exploration and development activity to make up the shortfall.
Why Titan is beginning to shine again after lockdown woes while other jewellers struggle
Titan is set to post best quarter in nearly 3 years as investors bet on recovery in demand ahead of festive season & economic slump weakens its competitors.
How India’s strict lockdown choked gold smuggling routes to country
Illegal shipments of gold are estimated to have slowed to a trickle of about 2 tons a month, and may total about 25 tons this year, compared with an estimate of 120 tons last year.
These are top 5 Indian airports where the most amount of smuggled gold was seized in 2019-20
According to government data, gold smuggling fell marginally in 2019-20 compared to the previous fiscal.
India’s gold imports rebound in July after 79% fall in first half of 2020
The rise showed the first year-on-year increase in first half of the year. However, gold demand is forecast to slide to record low as virus-related restrictions left million jobless.
Govt plans amnesty scheme for illegal gold holdings to curb tax evasion and cut imports
Finance ministry plans to ask people with unaccounted holdings of gold to declare it to tax authorities and pay levies and penalty.
Gold demand in India seen plunging to lowest on record as prices hit an all-time high
The consumption of gold fell 56% from a year earlier to 165.6 tons in the first half of 2020. The drop is unlikely to be made up during the rest of the year.
As gold price soars, so does India’s demand for loans against gold in pandemic season
India’s demand for gold-backed loans has risen as its price crosses Rs 50,000 per 10 gm, allowing families to borrow larger amounts against holdings.
This is the message behind the stunning rally in gold prices – world economy is in trouble
Coronavirus has unleashed a torrent of forces that are conspiring to fuel relentless demand for the perceived safety from turmoil that gold provides.
How France-Turkey’s probable but unlikely conflict has been shaped by Erdogan’s politics
In episode 604 of #CutTheClutter, Shekhar Gupta explains the recent France-Turkey conflict and the deeper implications of this row.
Banks have not a signed a single agreement for RBI’s debt recast scheme for high value loans
Tepid response to the debt recast scheme is being seen because there is lack of awareness and reluctance by banks, say bankers.
Defence
Army develops WhatsApp-like app for personnel to dodge risk of communication leaks
The Secure Application for Internet supports secure voice, text and video-calling services for Android platforms over the internet. It is end-to-end encrypted.
Trump or Biden? Doesn’t matter to India-US ties as they’re in a full, strategic embrace
Pompeo & Esper’s visit to India for the 2+2 talks is proof that old hypocrisies are history, and supreme national interest has again driven a strategic choice.