The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
Lakshya Sen went down fighting against reigning All England champion Li Shi Feng of China in the men's singles semi-finals.
After a year's delay due to COVID-19, the 19th Asian Games officially opens in Hangzhou on Saturday with hosts China eager to lift a country mired in economic gloom.
Those selling ornaments with lower purity might now offer hefty discounts in order to get rid of non-hallmarked stocks
Many offer personalised ornaments with 3D printed images and engraved names to lure customers in a scenario of high gold prices.
At present, it is trading at around $1,004 an ounce in the international market, about $150 cheaper than gold
'That's great for our team and in a way Ashes are bloody hard to win. It's not going to be easy but if we were to win it, that is legacy defining stuff.'
Going forward, Vinita Bali, outgoing MD, Britannia wants to do other things in life which she was unable to pursue.
A three-way voting process will determine the finalists.
Indicating that things were far from ideal in the ad-hoc panel, Singh said Bajwa wants to take all the decisions by himself, giving a feeling that the previous WFI setup was still in place.
Jamaican sprinter Usain Bolt, who is set to retire after the World Championships in London next year, has been shortlisted for the 2016 IAAF World Athletes of the Year award.
India's exports contracted by 22 per cent, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. According to the data of the commerce ministry, the trade deficit in June stood at $20.3 billion against $22.07 billion in the same month last year due to a fall in exports and imports. The inbound shipments during the month under review declined by a steep 17.48 per cent to $53.10 billion.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
In three of the past four years, 10-year returns have been 10 per cent or lower, making equity unattractive, compared to other asset classes.
The British government launched the 'India-UK Week of Sport' on Monday to celebrate the incredible "living bridge" between both nations to mark India's 75th year of Independence.
The 30-year-old's decision means that she will miss the upcoming edition of The Hundred, where she was due to represent the Trent Rockets.
In keeping with the main theme of 'Tides Surging in Asia', the ceremony was about the intermingling of China, Asia and the world in the new era
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
Orders for the festive season abroad begin from next month.
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
In other India-related news, Manish Kaurav (KL3 men 200m) and Manjeet Singh (VL2 men 200m) made it to the finals of their respective events for the first time in the history of the tournament.
Two treasure hunters claim to have found a mysterious Nazi train which disappeared on its way to Germany from Hungary in 1945 carrying guns, gems and other valuable items, including paintings estimated to be worth $200 million (about Rs 1,300 crore).
The trials to short-list the wrestlers for the Asian Games will likely take place around July 20.
Hockey greats Vasudevan Baskaran, M M Somaya and Mervyn Fernandis relive India's gold medal-winning campaign at the Moscow Olympics in 1980.
Esports to breakdancing, Hangzhou will set the trend for future of sport
There was a huge uproar in the Commonwealth Games gold medal match after Australia cricketer Tahlia McGrath was allowed to play the T20 final against India on Sunday despite testing positive for COVID-19.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Sri Lanka crushed Afghanistan by 68 runs to win the gold medal in the men's Twenty20 cricket event at the Asian Games on Friday.
Summary of sports events and persons who made news on Wednesday
Ukraine on mission to ban Russia from Paris Olympics
Cricket last featured in the 1900 Olympics in Paris and the ICC has been pushing for the inclusion of the sport's Twenty20 format in the 2028 Games in Los Angeles.
A relay gold medallist at the 2014 Commonwealths in Glasgow, the Jamaican said he was busier than ever after last year's retirement and focused, in the sporting arena at least, entirely on his nascent career as a footballer.
Cricket has been shortlisted for potential inclusion at the 2028 Los Angeles Games along with baseball-softball, flag football, lacrosse, breakdancing, karate, kickboxing, squash and motorsport.
Cricket will mark its return to the Commonwealth Games after a gap of 24 years with India taking on Australia on July 29 in the 2022 Birmingham edition.
He also said that Chhatrapati Shivaji's life was all about revolting against the atrocities, and the fight for 'swaraj' (self-rule) started by him continues still today.
Ms Usha may soon discover that winning four gold medals at the Asian Games and qualifying for the Los Angeles Olympics is a walk in the park compared with the challenges of stabilising governance at the IOA, observes Kanika Datta.
India's hopes of a medal in the women's 3000m steeplechase were dashed on Sunday after Bahrain's Ruth Jebet was reinstated as the gold medal-winner following a review, a decision which the Indian contingent plans to challenge in front of "higher authorities".
'There's no going back in time, but I hope those who ignored, downplayed, and appeased Putin for so long feel some shame today. Enough at least to do everything possible to stop him now.'
Cricket Australia have targeted the inclusion of the sport at the 2032 Brisbane Olympics as part of a strategic plan to expand participation and maintain the game's position at the heart of the country's sporting culture.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
