The story so far: The World Gold Council accorded India as the fourth largest recycler of gold, having recycled 75 tonnes of the valuable yellow metal in the previous year. As per the report titled ‘Gold refining and recycling’, India’s gold refining landscape has changed ‘notably’ in the past decade with formal operations increasing from less than 5 in 2013 to 33 in 2021. The import duty differential that gold doré has enjoyed over refined bullion has particularly accelerated the growth of organised refining in India. Helped by these tax incentives, about half of India’s new refining capacity opened up in Excise Free Zones (EFZs) in Uttarakhand since 2014. China topped the list having recycled about 168 million tonnes of gold in 2021. Italy stood second having recycled 80 million tonnes of gold in 2021, followed by the United States (78 million tonnes). For perspective, gold dorés are metal bars with high gold content. They are composed of a mixture of precious metals but … [Read more...] about Explained | What is gold recycling?
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This is a carousel. Use Next and Previous buttons to navigate 3 SLOVIANSK, Ukraine (AP) — Russia was mounting an all-out assault on the last Ukrainian stronghold in the eastern Luhansk region, “pouring fire" on the city of Lysychansk from the ground and air, the local governor said Monday, as Western leaders met to discuss ways of bolstering support for Kyiv. Luhansk Gov. Serhiy Haidai said Russian forces were pummeling Lysychansk after capturing the neighboring city of Sievierodonetsk in recent days. It's part of a stepped-up Russian offensive to wrest the broader Donbas region from Ukrainian government control in what Western experts say has become the new main goal of President Vladimir Putin's war in Ukraine, now in its fifth month. “They’re pouring fire on the city both from the air and from the ground. After the takeover of Sievierodonetsk, the enemy army has concentrated all its forces on capturing (our) last stronghold in the Luhansk … [Read more...] about Russia ‘pouring fire’ on Ukrainian city as offensive mounts
An international soccer match in Chile took an unexpected turn over the weekend after a pitch invading dog halted play. On Saturday, the Chile women's national soccer team played host to South American rivals Venezuela at the Estadio La Granja, Curicó. A friendly match serving as a warm-up for the Copa América Femenina, the game wasn't exactly action-packed with Chile mustering just one shot on target and Venezuela ultimately triumphing 1-0 thanks to a brilliant Mariana Speckmaier goal eight minutes from time. However, by then, the match's main highlight had already been and gone. That came in the 37th minute when, for reasons still unknown, a dog decided to run onto the pitch. Pitch invaders are nothing new in the world of soccer, but dog interlopers are a little less common. There are myriad reasons why someone may want to enter the field of play. Some do it for attention , others to protest a particular issue. Then are those who simply get carried away by the … [Read more...] about Playful dog halts soccer game after invading pitch for strokes—”Red card”
Preparations for the annual Amarnath yatra , being held after a gap of three years, have seen a massive scaling up, with officials comparing the arrangements to that of the Kumbh Mela. Compared to 2.85 lakh pilgrims who visited in 2018, the Jammu & Kashmir administration is expecting eight lakh footfalls this year. The annual pilgrimage, conducted via the twin routes of the famous tourist destinations of Pahalgam and Sonamarg in south and central Kashmir, respectively, was cut short in 2019, ahead of the Centre’s move to abrogate the erstwhile State’s special constitutional position. The highest ever number of pilgrims 6.35 lakh pilgrims visited the cave shrine in 2011. “We are expecting a high number of devotees for the annual pilgrimage this year,” Manoj Sinha, Lieutenant-Governor of the Union Territory of J&K, who is also Chairman of the Shri Amarnath Shrine Board (SASB), said. To meet the demand, the capacity of tents set up en route to the holy cave has been … [Read more...] about Amarnath
Punjab Finance Minister Harpal Singh Cheema on Monday said budgetary provisions have been made for giving 300 units of free electricity to the households from July 1, as the AAP government presented its first budget for FY23 in the State Assembly in Chandigarh . Presenting the Bhagwant Mann government's first budget after AAP came to power in March this year, Mr. Cheema said the budgetary provisions have been made for giving 300 units of free electricity each month for every household in the State from July 1. Mr. Cheema also said the AAP government will set up a model of good governance. Also read | Punjab in economic morass, debt trap: White Paper "Our government has zero-tolerance towards corruption...Our party's birth started from the anti-corruption movement," he said, adding the government is acting against those who indulge in corrupt practices. The Finance Minister said that the Janta budget (people's budget), which has been prepared after receiving 20,384 … [Read more...] about Punjab FM presents AAP govt’s first budget
Price rise is bad. It pinches you where it hurts the most. You have to rethink and regroup your life and plans. However, when premium rates are raised, as in many things in insurance, it is not exactly what it seems to be. An increase in premium is an indication of something good because it is still a promise that your increasing losses will be reimbursed. Increasing claims When insurance companies increase premium rates, they are catching up with increasing claims. The way it works in the real world, they rarely are ahead of that race. There may be a higher number of claims (as during COVID-19 or a natural disaster), claims of higher value (due to rising cost of healthcare or car repairs or whatever) or a combination of both. Price rises as well as unforeseen events can through the economics of insurance into disarray. Add to this the complications of investment returns with interest rate drops and tanking stock markets. Higher claims logically lead to less profits or … [Read more...] about An insurance premium rate increase isn’t always bad!
With much pomp and pageantry, China launched its third aircraft carrier this month. The Type 003, now named Fujian, is China’s biggest, most modern and most powerful aircraft carrier. At 80,000 tons and 318 meters, the Fujian outstrips all but America’s supercarriers, the new USS Gerald R. Ford-class. The vessel is named Fujian, after the Chinese province that sits across from Taiwan. This is China’s third aircraft carrier and second indigenously produced carrier after Liaoning and Shandong. The prior was purchased from Ukraine and commissioned in 2012, while the latter was manufactured in Dalian Shipyard and commissioned with the People’s Liberation Army Navy (PLAN) in 2019. Besides power projections in the near seas (Yellow Sea, East China Sea and the South China Sea), both Liaoning and Shandong are essentially classified as training ships and are intended to allow the Chinese Navy to experiment, train and gain familiarity with aircraft carrier operations — a relatively new domain … [Read more...] about What Does China’s New Aircraft Carrier Say About Its Technology and Strategy
New Delhi: India’s gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled ‘India’s Booming Gig and Platform Economy’ further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers. Platform workers are those whose work is based on online software apps or digital platforms while non-platform gig workers are generally casual wage workers, working part-time or full- time. Gig workers prefer a flexible work schedule, typically with low to middle level of education. Income through gig work is not their primary source of income and they are often holding another regular job. According to the … [Read more...] about India’s Gig Workforce to Stand at 2.35 Crore by FY30, Says NITI Aayog Report
In view of the lockdown, the government on Friday released only a part of the retail inflation data, which indicates that food prices have gone up by 9.28 per cent in May. "All India year-on-year inflation rates for Consumer Food Price Index (CFPI) for the month of May 2020 for Rural, Urban and Combined sector are 9.69 per cent, 8.36 per cent and 9.28 per cent respectively," said an official press release. In May 2019, the food inflation was 1.83 per cent as per the full CPI data released for that period. The government for the second month in a row released the truncated data on retail inflation in the backdrop of the lockdown following COVID-19 pandemic. For April also, Ministry of Statistics and Programme Implementation had released a truncated CPI data. The government had imposed the lockdown from March 25, 2020 to curb the spread of coronavirus. The lockdown adversely affected economic activities in the country. In a statement, the National Statistical Office (NSO) in … [Read more...] about Govt Releases Part of Retail Inflation Data, Food Inflation up 9.28% in May
Wearing masks was made mandatory for devotees coming to see the annual Ratha Jatra festival in Puri on July 1 amid rising COVID-19 cases in Odisha, a senior official said on Monday. Around 10 lakh people are expected to gather for the festival in the temple town from across the country, and some foreign nations, Director of Health Service Bijay Mohapatra said. The festival of Lord Jagannath this time will see the participation of devotees after two years. In 2020 and 2021, only servitors took part in rituals due to the pandemic. ”We are expecting a large congregation during the festival this year. Mask is mandatory in Puri during the festival. Health camps will be set up at the railway station, bus stand and Grand Road (Bada Danda),” Mohapatra said. Asking people with symptoms to avoid visiting the town, he said caution should be maintained to check the spread of the virus. The state government has set up Covid Care Centres in Puri, and arranged for oxygen and ICU beds to meet with … [Read more...] about Puri Prepares for Lord Jagannath’s Ratha Yatra Amid Fresh Covid Alarm