Gold prices surged to record highs on Monday, driven by a weaker US dollar and anticipation of US Federal Reserve interest rate cuts. Both domestic and international markets saw significant gains, with MCX gold futures hitting Rs 1,35,824 per 10 grams and Comex gold reaching USD 4,429.3 per ounce. Source link
Foxconn has rapidly scaled up its newest iPhone manufacturing facility near Bengaluru, hiring close to 30,000 workers within eight to nine months, marking the fastest workforce expansion by any factory in India to date. The swift ramp-up at the Devanahalli plant underscores Apple’s push to diversify its supply chain beyond China, according to people familiar…
Gold surged to record, bringing cheer to digital tokens backed by the metal traditionally seen as a haven investment. XAUT$4,417.98, the largest gold-backed token by market value, rose to an all-time high of $4,425 while PAXG (PAXG) and kineses gold (KAU) also rose, lifting the total market value of gold-backed tokens to $4.38 billion. “The…
With just days left before the year-end compliance window closes, the Income Tax department has begun reaching out directly to multinational companies, asking them to alert Indian employees about undisclosed foreign assets and income, according to multiple tax advisors.Several large multinationals — including a global consumer healthcare firm, a wireless technology major and a US-based…
Humayun Kabir (File photo) NEW DELHI: West Bengal MLA Humayun Kabir on Monday launched his new political party, the Janata Unnayan Party, days after the Trinamool Congress (TMC) suspended him over his decision to lay the foundation stone for a Babri-style mosque in Murshidabad district.Speaking at a public meeting in Beldanga, Kabir said his party…
Understanding the tax treatment of financial products is critical for investors looking to optimise post-tax returns, and mutual funds are no exception. While there is no tax liability at the time of investing in or holding mutual fund units, tax comes into play when an investor sells, switches between schemes or redeems units. The tax…
The crypto market is bracing for a massive structural reset on Friday, with billions of dollars worth of bitcoin BTC$89,816.59 and ether ETH$3,043.63 options set to expire on Deribit. This colossal “Boxing Day” event, named for the holiday observed in many countries on Dec. 26, will see $23.6 billion in bitcoin options and $3.8 billion…
Manikrao Kokate (File photo) NEW DELHI: The Supreme Court on Monday granted partial relief to Nationalist Congress Party (NCP) MLA and former minister Manikrao Kokate, staying his conviction in a cheating and fraud case though only to the extent that it will not lead to his disqualification from the Maharashtra legislative assembly.Also Read: Ex-mininster Manikrao…
NEW DELHI: Cairo will soon have a Taj hotel with an existing property there going to be run by the Tata Group company. The Indian Hotels Company Limited (IHCL, Taj parent) Monday signed a 300-key Taj Cairo. This will be the second Taj property in Africa, after a hotel in Cape Town. Among Indian hospitality…
China on Monday announced imposing provisional anti-subsidy duties on dairy products imported from the European Union, after concluding that the inflow of these goods has harmed its domestic dairy sector. The Chinese commerce ministry, cited by Reuters, said that the duties are set between 21.9% and 42.7% and will be effective from December 23. The…
