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Daily Republic News
- Business
- October 23, 2024
Gold, Silver Hit New All-Time Highs on Wedding Season Demand
New Delhi: Rallying for the sixth straight session, gold and silver prices breached fresh record high levels in the national capital on Wednesday mainly driven by festive and wedding season demand, according to the All India Sarafa Association. Gold prices jumped by Rs 500 to an all-time high of Rs 81,500 per 10 grams while silver surged Rs 1,000 to Rs 1.02 lakh…
- Business
- October 23, 2024
Iconic Food Container Brand Tupperware Sold For Rs 198 Crore in Cash
New York: Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million (approximately Rs 198 cr) in cash and over $63 million in debt relief, cancelling its plans for an open-market auction of its assets. The food storage and kitchen products company announced the deal at a bankruptcy court hearing in Wilmington, Delaware. U.S. Bankruptcy…
- Business
- October 23, 2024
India’s GDP Likely to Grow at 7.2% in FY25: RBI Deputy Governor
New York: India’s GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata Patra. He was speaking at the New York Fed Central Banking Seminar organised by…
- Business
- October 22, 2024
Exporters expect better trade ties after breakthrough in India-China border talks
India reaching an agreement with China on patrolling along the LAC in eastern Ladakh is a positive development as it would further create a friendly environment for trade ties between the two countries, say exporters. They added that the move would also provide comfort to Indian businessmen doing business with China. “Present disengagement will give mental comfort to Indian businessmen doing business with…
- Business
- October 22, 2024
Walt Disney to divest 7 channels; not to bundle ad slots for cricket events
Reliance Industries and Walt Disney will divest seven TV channels and ensure that the sale of advertisement slots for cricketing events are not bundled as part of the measures approved by the Competition Commission for the merger of the two groups’ media assets that will create a Rs 70,000 crore media behemoth. Nearly two months after announcing that the mega deal has been…
- Business
- October 22, 2024
Gold Jumps Rs 350 To Record High, Silver Zooms Past Rs 1 Lakh-Mark
New Delhi: Gold price rose by Rs 350 to hit a fresh all-time high of Rs 81,000 per 10 grams while silver soared Rs 1,500 to record the Rs 1 lakh mark in the national capital on Tuesday amid a surge in demand, according to the All India Sarafa Association. Continuing its upward movement for the fifth straight day, silver bounced Rs 1,500…
- Business
- October 22, 2024
IMF keeps India’s GDP growth forecast at 7% for FY25 and 6.5% for FY26
The International Monetary Fund (IMF) has confirmed its growth forecasts for India, projecting a GDP growth of 7 per cent for the financial year 2024 and 6.5 per cent for FY25. This assessment highlights that the pent-up demand accumulated during the pandemic has been largely exhausted as the economy “reconnects” with its potential. In its latest World Economic Outlook report, the IMF stated,…
- Business
- October 22, 2024
DGTR recommends anti-dumping duty on Chinese drawer sliders to protect MSMEs
The commerce ministry’s investigation arm DGTR has recommended an anti-dumping duty of USD 422 per tonne on Chinese drawer sliders to guard MSME units. In its findings, the Directorate General of Trade Remedies (DGTR) has concluded that ‘Telescopic Channel Drawer Slider’ has been exported to India at a price below the normal value, resulting in dumping. The imports are also undercutting the prices…
- Business
- October 22, 2024
Jewellers’ body pushes for uniform gold rates across India, hopes to convince retailers
The All India Gem and Jewellery Domestic Council (GJC) announced Tuesday it is working to implement ‘One Nation One Gold Rate’, aiming to standardize domestic gold prices that currently vary across different regions of the country. “We import gold at the same rate, but the domestic retail prices differ from one city to another. We want a single rate to prevail across the…
- Business
- October 22, 2024
Rakesh Jhunjhunwala’s key mantras for smart investing
Invest like Jhunjhunwala: Rakesh Jhunjhunwala, often hailed as India’s Warren Buffett, transformed the investment scene in India through his remarkable journey from trader to influential investor. With a portfolio valued at nearly Rs 32,000 crore, he popularised equity investment and inspired countless retail investors to embrace the stock market. Here are some of his powerful investment mantras that continue to guide investors today.…
