Latest News Today – Yellow Metal Shows Nominal Rise, Silver Moves Up


Gold Price Today: Yellow metal prices showed a nominal rise

Yellow metal prices witnessed a nominal rise on Monday as on the Multi-Commodity Exchange (MCX), August gold contracts jumped 0.25 per cent to Rs 47,653 for 10 grams. Silver also moved upwards as September futures climbed 0.04 per cent to reach Rs 67,194 per kilogram.

Meanwhile in the international market, gold prices witnessed a fall as spot gold dropped by 0.1 per cent to $1,799.89 per ounce. US gold futures fell by a meagre margin of 0.2 per cent to $1,798.90 per ounce.

Globally, investors are keeping a close watch on the Federal Open Market Committee’s meeting this week. It is generally being speculated that the US central bank will keep the policy rates and stance unchanged during the meeting. 

“COMEX gold trades marginally higher near $1,807 per ounce after a 0.2 per cent decline in previous session. Gold inched up amid choppiness in US dollar, increasing virus concerns, US-China tensions and China’s crackdown on technology firms. However, weighing on price is continuing ETF outflows, weaker consumer demand and uncertainty ahead of the Fed meeting this week. Gold may remain supported near $1,800 per ounce until dollar is steady,” said Ravindra Rao, Head Commodity Research at Kotak Securities.



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Latest News Today – On CCTV, Couple Moves Bags With Delhi Woman’s Chopped


CCTV visuals from their neighbourhood show two persons carrying bags.

New Delhi:

A couple who was arrested in Delhi for allegedly killing an elderly woman, their neighbour, and throwing her chopped body into a drain, spent the entire night in her home cleaning the blood after chopping her body, the police said.

CCTV visuals from their neighbourhood show two persons carrying bags, which allegedly contained the chopped body, outside a building.

Anil Arya had borrowed Rs. 1.5 lakh from Kavita, his 72-year-old neighbour in outer Delhi’s Najafgarh. The event management professional and his wife allegedly killed her on the night on June 30 as Kavita had been asking them to return her money. The elderly woman was punched and strangled.

The chilling crime took place when she was alone at home.

The couple then cut her body into three pieces, filled them in three bags and threw them in a drain in Najafgarh, senior police officer Santosh Kumar Meena told NDTV.

The couple was at their neighbour’s home between 9 pm on June 30 to 5 am the next day.

Before dumping the body in the drain, they removed jewellery from the woman’s body. They pawned the jewellery at a popular finance company and took Rs. 70,000 in return, the police said.

“The woman’s daughter-in-law came to us with a complaint on July 3 saying she is missing and that her home is locked. On July 7, she came back to us saying the woman’s neighbour too is missing. We immediately filed a case of abduction and sent a team to track the neighbour,” Mr Meena said.

The couple was tracked down to Uttar Pradesh’s Bareilly and arrested on Monday. Police retrieved the woman’s body from the drain on the same day.



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Latest News Today – Government Moves Cabinet Note To Seek 100% Foreign


Government has moved a cabinet note to seek views on foreign investment in state-owned oil companies

The Commerce and Industry Ministry has floated a draft cabinet note seeking inter-ministerial views on a proposal to allow up to 100 per cent foreign investment under automatic route in oil and gas public sector undertakings (PSUs), which have an ‘in-principle’ approval for disinvestment, sources said.

The move, if approved by the union cabinet, would facilitate privatisation of India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL).

The Government is privatising BPCL and is selling its entire 52.98 per cent stake in the company.

Sources said that as per the draft note, a new clause would be added in the FDI policy under the petroleum and natural gas sector.

According to the proposal, foreign investment up to 100 per cent under the automatic route would be allowed in cases where an ‘in-principle’ approval for disinvestment of a PSU has been granted by the government.

For BPCL privatisation, mining-to-oil conglomerate Vedanta had put in an expression of interest (EoI) for buying the government’s 52.98 per cent stake in the PSU. The other two bidders are said to be global funds, one of them being Apollo Global Management.

After collating the views, the commerce and industry ministry would seek approval of the union cabinet on the proposal.

At present, only 49 per cent FDI is permitted through automatic route in petroleum refining by the public sector undertakings (PSU), without any disinvestment or dilution of domestic equity in the existing PSUs.



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Latest News Today – WTC Final: Virat Kohli Shows Off His Dance Moves As Fans


Virat Kohli appeared to be in a jolly mood in early on in New Zealand’s first innings.© AFP




Virat Kohli enjoyed himself on the field as he grooved to some old-school Bhangra on Day 3 of the World Test Championship final against New Zealand at The Ageas Bowl in Southampton. Shortly after New Zealand came out to bat in the second session of the day, Kohli, who was fielding in the slips during the ninth over of the innings was seen dancing to the sound of dhols being played by the fans at the stadium. Kohli, who is known for his crowd-pleasing antics when on the field, tried to get the fans behind the team as India attempt to win the first-ever WTC final.

Kohli was one of India’s top scorers in their first innings even as India were bowled out for 217, courtesy of a menacing spell of 5 for 31 by Kyle Jamieson.

Kohli made 44 while his deputy Ajinkya Rahane top-scored for India with 49 runs as India could add only 71 runs to their overnight total of 146 for 3.

His antics aside, Kohli’s tactics in the field finally bore fruit for India in the third session when Ravichandran Ashwin dismissed New Zealand opener Tom Latham for 30 to give India their first wicket after an opening stand of 70 runs.

Promoted

The World Test Championship final was scheduled to be played from June 18 to 22 with June 23 as a reserve day.

The first day was washed out due to rain and New Zealand chose to field after winning the toss on Day 2.

Topics mentioned in this article





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Latest News Today – Franklin Templeton Moves To Calm Investors After New


Franklin continues to manage more than Rs 61,000 crore for more than 20 lakh investors.

Franklin Templeton India told investors on Wednesday that the market regulator’s ban on its launching new debt funds would have no impact on existing funds that manage $8 billion in assets.

The Securities and Exchange Board of India (SEBI) on Monday barred Franklin from launching any new debt schemes for two years after a probe into its sudden closure of six credit funds last year found “serious lapses and violations.”

Franklin has said it strongly disagreed with SEBI’s order and planned to appeal it. In an e-mail to investors on Wednesday seen by Reuters, the fund house sought to reassure investors about any broader impact its other funds.

“I would like to clarify upfront, that the SEBI order has no impact on other schemes managed by Franklin,” India President Sanjay Sapre said in the email.

Franklin continues to manage more than Rs 61,000 crore ($8.36 billion) for more than 20 lakh investors in India, he added.

Franklin has faced regulatory probes and court battles since April 2020 when it unexpectedly wound up six credit funds in India with assets of close to $4 billion, citing a lack of liquidity amid the coronavirus pandemic. Those funds had large exposure to higher-yielding, lower-rated credit securities.

In the Monday order, SEBI also ordered the fund house to refund investment and advisory fees, along with interest, of more than Rs 500 crore ($68.51 million), and fined the global giant another Rs 5 crore.

One senior fund manager, who declined to be named, told Reuters that money managers grew more cautious about investment decisions after the SEBI order.

“SEBI now is not leaving any room for any deviation and it’s becoming very strict … there is a heightened level of alertness and attention that has come,” the manager said.



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Latest News Today – Visa Moves to Allow Payment Settlements Using


Visa said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.

The company told Reuters it had launched the pilot program with payment and crypto platform Crypto.com and plans to offer the option to more partners later this year.

Bitcoin, the most popular crypto coin, jumped to a one-week high on the news, rising as much as 4.5 percent to $58,300 (roughly Rs. 42.4 lakh) and heading back toward a record-high above $61,000 (roughly Rs. 44.4 lakh) hit earlier this month.

Visa subsequently confirmed the news in a statement.

The USD Coin (USDC) is a stablecoin cryptocurrency whose value is pegged directly to the US dollar.

Visa’s move comes as finance firms including BNY Mellon, BlackRock and Mastercard take steps to make more use of cryptocurrencies for investment and payment purposes.

Tesla boss Elon Musk, a major proponent of cryptocurrencies, said last week that customers can buy its electric vehicles with bitcoin, hoping to encourage more day-to- day use of the digital currency.

“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, head of crypto at Visa, said.

Traditionally, if a customer chooses to use a Crypto.com Visa card to pay for a coffee, the digital currency held in a cryptocurrency wallet needs to be converted into traditional money.

The cryptocurrency wallet will deposit traditional fiat currency in a bank account, to be wired to Visa at the end of the day to settle any transactions, adding cost and complexity for businesses.

Visa’s latest step, which will use the ethereum blockchain, strips out the need to convert digital coin into traditional money in order for the transaction to be settled.

Visa said it has partnered with digital asset bank Anchorage and completed the first transaction this month — with Crypto.com sending USDC to Visa’s Ethereum address at Anchorage.

© Thomson Reuters 2021


Orbital, the Gadgets 360 podcast, has a double bill this week: the OnePlus 9 series, and Justice League Snyder Cut (starting at 25:32). Orbital is available on Apple Podcasts, Google Podcasts, Spotify, and wherever you get your podcasts.



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India Protection Quotient Moves Up On Heightened | Sidnaz Blog


The COVID-19 pandemic created unique circumstances for individuals and households, but also steered most of us towards proactive financial planning and improved health protection. To assess the pulse of urban Indians and their attitude towards financial protection in the backdrop of the pandemic, Max Life Insurance in partnership with KANTAR unveiled findings of the third edition of its flagship survey in the form of ‘India Protection Quotient (IPQ) 3.0’. Traced from the beginning of the lockdown in March 2020, to the phased reopening of the sectors, up until the announcement of viable vaccines in December 2020, the survey discovered Urban India’s sentiment towards overall financial wellbeing.

On the back of increased awareness and ownership of life insurance, urban India’s protection quotient improved from 35 (during pre-Covid times in IPQ 2.0) to 39 now. The knowledge index of life insurance increased by 9 points, whereas life insurance ownership across the country increased from earlier 66% (IPQ 2.0) to 71%. Moreover, term insurance awareness too rose to 59% and consequently improved term ownership which stood at 28%.

Despite this progress, it was found that India continues to feel financially insecure. In particular, financial anxieties related to COVID-19 and ability of current earnings to cover expenses emerged as top concerns for Urban Indians. It is interesting to note that increasing worries and reducing security also pushed Urban Indians to become more proactive about financial planning. It wouldn’t be incorrect to conclude that while the country has definitely made strides when it comes to financially guarding oneself from future uncertainties, there is still a long way to go.

Max Life Insurance bears the responsibility of the accuracy and completeness of the above article.

Disclaimer: This is an advertorial and NDTV is not responsible for the accuracy of the content.



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