Market and Business News

Weekly gold futures Rs.601 while silver has a gap of Rs.4230 A total turnover of Rs 4,50,458.4 crore was recorded in 57,73,222 trades in various commodity futures, options and index futures on the country's leading commodity derivatives exchange during the week from May 5 to 11, with commodity futures accounting for Rs 1 ,09,095.94 crores and the share of options was Rs.340974.97 crores. In precious metals futures, 10,44,616 deals worth Rs.70,486.17 crore were transacted in gold and silver. Among gold futures, gold June futures opened at Rs.61,566 per 10 grams at the beginning of the week, touched an intra-day high of Rs.61,651 and a low of Rs.60,250 during the week, falling by Rs.601 at the end of the week at Rs.60,892. had arrived Against this, Gold-Guinea May Contract 8 per gram decreased by Rs.294 to Rs.48,865 and Gold-Petal May contract decreased by Rs.43 per gram to Rs.6,118. Gold-mini June futures fell by Rs.561 to Rs.60,886 per 10 grams. In silver futures, silver July o

Talk about the market AI effect, BT company will release 55 thousand Another company is set for massive layoffs due to Artificial Intelligence (AI). This is the company, UK telecom giant BT, which will cut 55,000 jobs by 2030. The company has officially announced this. The company currently has approximately 1.3 million employees worldwide, including approximately 30,000 under third party contracts and 80,000 of the company's own employees who work in the UK. BT will adopt digitization and use artificial intelligence technology for call handling and network diagnostics. Due to this less man will be required. The company will launch next-generation full-fibre and 5G networks across the UK. After this network is ready, the company will need less engineers. What did Devolina write while watching 'The Kerala Story' with her Muslim husband? TV actress Devolina Bhattacharjee's tweet has gone viral while Sudipto Sen's film 'The Kerala Story' is doing well at

- Opinion - P. Chidambaram - Blockade by Karnataka election results against attempt to centralize power - Both the judgments of the Supreme interpreted the important provisions of the Constitution It is said that the surname does not come alone. The week starting from 7th May was disastrous for BJP. On May 11, the Supreme Court delivered two judgments. Both the judgments were given by a five-judge constitution bench. Both the judgments interpreted important provisions of the Constitution. Both these judgments are being considered as a slap on the government. The result of the Karnataka assembly election was on 13th May. In case of defeat, the government defends itself by remaining silent. Neither the Home Minister nor the former Law Minister gave any reaction to the Supreme Court verdict and Karnataka results. Violation of the Constitution Delhi's case was quite simple. In 2018, the Supreme Court interpreted Article 239AA of the Constitution and said that administrative pow

- The Conundrum of Economics - Dhawal Mehta - Right-wing thinking that increases the number of billionaires in that country The recession of 1930 created by America destroyed the world economy. After the Second World War, in 1933, the OPEC countries tripled the prices of fuel oil by gradually increasing the price of fuel oil, and the countries of the world were caught in an economic crisis with a mixture of stagnation and inflation. The combination of high prices and economic depression was a completely new and impossible thing for the economy as a whole. In theory it was not possible but it happened. The economic crisis of 1973 brought Margaret Thatcher to power in Britain in 1979 and Ronald Reagan in America in the early 1980s, and right-wing economics (commonly known as neoliberalism, market fundamentalism, or laissez-faire) around the world. This type of right-wing economic growth rates are fast but it And the inequality of wealth increases and that increases the number of billi

Around the Market 70 percent of young startups away from jobs There was a time when the youth of today preferred to get a job in a startup but recently the way the layoffs are going on in the startup sector has made the youth disillusioned with the startup sector. According to a job placement report, seven out of 10 candidates are ignoring startup jobs and preferring the corporate sector. However, after the corona epidemic, there have been big changes in the choice of jobs among the youth. Increase the attractiveness of gold ETFs The rise in gold and silver prices due to global factors also affects the mind of investors. Due to the wide volatility seen in gold prices last April, investors preferring to invest in gold ETFs during the proposed time, gold ETFs have invested Rs. 124 crore new investment was seen. It is worth mentioning that during the previous month of March, Rs. 266 crore funds were withdrawn. Char Dham Yatra... Hackers active Currently, Chardham Yatra is going on

- Sales Tax - Soham Mashruwala Under the GST law, the problem of taxation is much greater. The prohibitions which have been placed in Section 17 (5) of the GST Act. Besides, under the previous law, the tax liability was increased by taking gross profit and making an outrageous addition. Today's article discusses two important issues related to taxation. In which the goods are destroyed. What is the impact on taxation if for any reason and if the supply is lower than the purchase price? Goods destroyed A very noble judgment has been given by the Gujarat Value Added Tax Tribunal in the case of Himani Distributors (SA No. 364/2010) under the earlier Gujarat VAT Act, where there is no refund of VAT if the goods are destroyed due to an accident. Annoyed by this, Hon. A petition was filed in Gujarat High Court. (Tax Appeal No. 1112/2013) whichever is greater. was rejected by the court. Section 17 (5) of the CGST Act falls under Section 17 (5) of the CGST Act to take advantage of such

- Antenna - Vivek Mehta - A seemingly straightforward carbon tax could destroy an entire country's economy and deindustrialization The Carbon Border Adjustment Mechanism will break the bandwagon of industries in the world's smaller countries, including India. In December 2022, European Union countries finalized restrictions on carbon emissions controls. Its implementation will start from October 1, 2023. These restrictions are being tightened as industries move to areas with less stringent environmental protection restrictions. From October 1, every industry will have to provide their carbon emission data. In this way, carbon emission data of industries around the world will be collected. Its strict implementation will be started from 2026. The largest trade with India in the world is with European Union countries. In the year 2021, India did 88 billion dollars of trade with these countries. 10.8% of India's total world trade is with European countries. So the carbon ta

Bhoo Bazar - Dilip Shah Instant Coffee Exports Boost: Global Coffee Prices Point to Higher Amid Production Recession in Brazil In the coffee market and industry in the country, trends have been seen to reverse rapidly recently. Although there is a special demand for tea compared to coffee in India, but now the consumption of coffee has also been seen increasing rapidly among the new generation. This year, the demand for coffee in India was mainly in various states of South India, but now in most of the states of the country, especially in the big cities, the demand for coffee among the youth is increasing from the market. While the domestic demand for coffee in India is increasing, on the other hand coffee is also being exported from India. Meanwhile, there are two main types of coffee. Among these varieties, robusta coffee and arabica coffee have recently experienced global shortages in supply. Due to this the prices have also increased. Robusta type of coffee is mainly used in the

Chart Indication - Ashok Trivedi The BSE index (close 6172968.19-05-23) is soft from a top of 62562.66. Currently, the 12 day average is 61565.4 60516.26 and the 200 day average is 59510.15. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, overbought on weekly basis and neutral position on monthly basis. Above 61785 61877, 62230, 62400 resistance levels are considered. 61251 down to 61190, 60850, 60500, 60470, 60160, 59820 possible. Britinnia (closing price Rs.4494.00 on 19-05-23) is in favor of softness from the top of 4700. Currently, the 12-day average is 4575.63, the 48-day average is 4023.70, and the 200-day average is 4128.00. Daily and weekly MACD are bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 4563 above 4660 resistance level is considered. A low of 4484 is possible down to 4468, 4430, 4390. ICICI Bank (closing price Rs.954.30 on 19-05-23) is bullish from the bottom of 796. Current

Investments coming from Mauritius, Singapore and Netherlands will be taxed : CBDT AHMEDABAD: As investment in Indian startups slows down, the government has changed the tax levied on investment to exclude certain countries. In a notification issued by the Finance Ministry, investment in Indian startups from 21 countries, including the US, England and France, will no longer be subject to angel tax. However, this list does not include investments from countries like Singapore, Netherlands and Mauritius. In the budget of February 2023, the central government made a provision to levy angel tax on investment coming from abroad in unlisted startups. However, startups recognized by the Department for Promotion of Industry and Internal Trade were exempted from this tax. Following this provision, the startup and venture capital industry requested exemption of certain categories of foreign investors. The Central Board of Direct Taxes on May 24 released a list of categories of investors not co

Debt ceiling in US signaled to rise soon, break recession MUMBAI: While the deadline for raising the debt ceiling to save the US from default is nearing, the Indian economy is expected to outpace global economic growth with recovery in global markets indicating that a decision may be taken soon as negotiations continue. Today there was an all-round boom in the stocks. Stocks continued to rally on sustained buying by Foreign Portfolio Investors (FPIs) as well as local funds and encouraging results from Corporate India. Sensex touched 62500 level and Nifty touched 18500 level as funds bought. Finally, the Sensex rose 629.07 points to 62501.69 and the Nifty spot jumped 178.20 points to close at 18499.35. Out of the total 3630 scrips traded in BSE, the number of gainers was 1907 and the number of decliners was 1600. Funds boom in Reliance Industries The fund rallied by Rs 66.55 to Rs 2,506.50 amid reports of Reliance Industries adopting a fast-track growth strategy in the retail sector

- Effect of recession on placement of students now - Reported that the company has avoided offer letters given to freshers for a year in America too New Delhi: Leading technology and e-commerce company Amazon has postponed its plan to give offer letters to freshers in institutes like IIT (Indian Institute of Technology) and NIT (National Institute of Technology) for campus hiring after massive retrenchment. The fear of recession in America is believed to be the reason behind this. A graduate student from IIT Bombay said he was hired as a software engineer by Amazon. Now this offer has been postponed till January 2024. He was recruited at Amazon at SDE-Level One with an annual salary of Rs 30 lakh. He was supposed to join in June. But got an email from HR that your offer is currently on hold. My joining is now in January 2024. He said the experience of students who had done internships with the company was similar. The placement cell of NIT has also confirmed that the offer letter

Currently 'snowball effect' in Indian economy Very firm and optimistic about India's growth path but not so optimistic about global growth AHMEDABAD: Due to the corrective measures taken for the Indian economy and the necessary policy changes, the economy is standing strong even in tough times like Brexit or Corona epidemic and the current inflationary pressure and the situation is improving rapidly. Expressing optimism about India's economic growth, World Economic Forum President Borg Brenden said that India will witness the fastest growth among the world's major economies this year and that the country's economy is currently going through the famous 'snowball effect'. This process will ultimately lead to more investment and more jobs in the country. The snowball gets bigger and bigger when it starts rolling and re-inflates and that is what is happening with the Indian economy. Brand emphasized, 'I am very bullish and optimistic about India'

Image Envato Dt. 26 May 2023, Friday If you want to start a new business then this story is for you today. People call this business magic business and there is no chance of loss in this business. Actually this business is cultivation of flowers. Ayurvedic and homeopathic medicines are made from this flower. Let us tell you that the farmers of Bundelkhand in Hamirpur district of Uttar Pradesh have made their fortune by cultivating flowers. After starting the cultivation once, the farmers are getting abundant harvest from it. And these flowers are known as Chamomile Flower. And Ayurvedic and homeopathic medicines are made from this flower. That is why there is a huge demand for it in private companies. This type of cultivation is done in barren land Giving some information about this agriculture, let us tell you that this agriculture is done in barren land. A farmer can improve his economic condition by cultivating these flowers. 5 quintals of magic flower can be grown in one acr

image : Twitter Mukesh Ambani, the richest man in Asia, is constantly expanding his business. Meanwhile, Reliance Retail is establishing its dominance in this sector by making one deal after another. Now another big company has been added to Ambani's portfolio. We are talking about the chocolate maker Lotus Chocolate. Reliance Consumer Products Limited (RCPL) has bought 51 percent stake in this company and the company has shared the information that its acquisition has been completed. The deal was completed for 74 crores According to the report, Reliance Consumer Products Limited has completed the deal by buying a major stake in Lotus Chocolate Company Limited for Rs 74 crore. Under this deal, RCPL will pay for non-cumulative redeemable preference shares of Lotus Chocolate at Rs. 25 crores and got control of the company. It has been said from Reliance that the command of the company has been taken over from May 24. Acquisition of shares under open offer has also been completed.

image : Wikipedia If you are also fond of collecting old coins, notes then this news is very important for you. Nowadays old notes and coins are being auctioned in the market. These notes are being auctioned daily in the online market. Gradually the craze of auctioning these notes is increasing. Seeing this craze, the Reserve Bank of India (RBI) has warned people. Let's know what RBI has warned? What is RBI's warning? RBI has already said that news related to old coins or notes comes only from the central bank. While RBI has no role in any such auction or sale. If you want to sell old notes or coins then you should also read the RBI guidelines. RBI said that people are being cheated in buying or selling such coins online. This is a way to cheat people. This is how people are trying to cheat customers. You should always be wary of this type of fraud. How does this cheating system work? Many such cases have come to the notice of RBI, in which the name of RBI is being misuse

- Withdrawals made by customers from ATMs show that cash circulation in India has increased even after demonetisation - Karnataka, Chhattisgarh and Andhra have more cash withdrawals than the country: Five big states like Gujarat, Maharashtra account for 43 percent. AHMEDABAD: Days after reports that the growing prevalence of wallets, UPI and digital technology in India is driving digital payments over cash at the time of purchase, a new study proves that cash is king for the people of India. Between November 2016 and March 2023, cash withdrawals from ATMs have increased by 235 percent since demonetisation in November 2016. In December 2016, an amount of Rs.84,934 crore was withdrawn from ATMs per month, which increased to Rs.2.85 lakh crore in March 2023. According to the India Cash Vibrancy report by CMS Info System, a company that provides cash exchange services at ATMs, cash withdrawals in March 2023 are 121 percent higher than April 2020 and 41 percent higher than May 2021. The

Russian gold exports continue despite ban Russia sold 116 tonnes of gold to UAE, China and Turkey amid Western sanctions London: America, Europe and NATO countries have imposed many economic sanctions on Russia in connection with the war on Ukraine, and the export of gold production in Russia has also been restricted. However, the United Arab Emirates (UAE) has now become a hub for Russian gold, as Russian crude oil is processed in India and China into refined petrol and diesel and sold in the American and European markets. According to the data of the Russian customs department, 75.7 tons or 4.3 billion dollars of gold has been exported to the UAE in the Gulf through about 1000 shipments since the start of the war on Ukraine. In the entire year of 2021, Russia's export to UAE was only 1.3 tonnes. After this, China and Turkey have imported 20 tons of Russian gold. UAE, China and Turkey account for 99.8 percent of Russia's total gold exports. In March 2022, the London Bulli

Russian gold exports continue despite ban Russia sold 116 tonnes of gold to UAE, China and Turkey amid Western sanctions London: America, Europe and NATO countries have imposed many economic sanctions on Russia in connection with the war on Ukraine, and the export of gold production in Russia has also been restricted. However, the United Arab Emirates (UAE) has now become a hub for Russian gold, as Russian crude oil is processed in India and China into refined petrol and diesel and sold in the American and European markets. According to the data of the Russian customs department, 75.7 tons or 4.3 billion dollars of gold has been exported to the UAE in the Gulf through about 1000 shipments since the start of the war on Ukraine. In the entire year of 2021, Russia's export to UAE was only 1.3 tonnes. After this, China and Turkey have imported 20 tons of Russian gold. UAE, China and Turkey account for 99.8 percent of Russia's total gold exports. In March 2022, the London Bulli

Dollar index rises to two-month high: Crude pulls back from higher head Mumbai: Global investors have now adopted a wait-and-see policy due to the ongoing impasse on raising the debt ceiling in the US, a resurgence in corona cases in China and reports of Germany slipping into recession. In the minutes of the May meeting of the American Federal Reserve, there is no clear indication regarding the interest rate, even in the choice between gold and the dollar, investors are moving slowly. The dollar index rose to a two-month high. Global gold and silver declined significantly on higher-headline profit booking. Crude oil retreated while the rupee halted its appreciation against the dollar in local money markets. Gold and silver prices retreated again at home. In the Mumbai jewelery market, the price of gold at 99.90 per ten grams without GST fell to Rs 60361. The price of 99.50 per ten grams was Rs 60119. With GST, the prices were raised by three percent. The price of silver .999 per kg