Reliance donates Rs 5 crore for Telangana CM Relief Fund | WeForNews | Latest News, Blogs Reliance donates Rs 5 crore for Telangana CM Relief Fund – WeForNews | Latest News, Blogs
Connect with us

Business

Reliance donates Rs 5 crore for Telangana CM Relief Fund

Office bearers of the Federation of Telangana Chambers of Commerce and Industry (FTCCI) also met the minister and handed over a cheque of Rs 42.3 lakh towards CMRF.

Published

on

Mukesh Ambani Picture

Hyderabad, April 10 : Reliance Industries Limited and Reliance Foundation led by Mukesh Ambani and Nita Ambani respectively have contributed Rs 5 crore to Telangana Chief Minister’s Relief Fund for COVID-19 relief efforts.

Reliance Jio CEO K.C. Reddy handed over the cheque to state industry minister K.T. Rama Rao here on Friday.

Office bearers of the Federation of Telangana Chambers of Commerce and Industry (FTCCI) also met the minister and handed over a cheque of Rs 42.3 lakh towards CMRF.

Various industries and prominent persons also made their contributions for the relief works.

Meanwhile, My Home Group’s owner Jupally Rameshwar Rao called on Chief Minister K. Chandrashekhar Rao and presented Rs 3 crore cheque towards the CMRF.

Gangavaram Port Limited also donated Rs 1 crore. Gangavaram Port Chairman DVS Raju handed over the cheque to the chief minister.

Business

Gold futures surge as international prices hit new high

The October contract is currently trading at Rs 53,637, higher by Rs 192 or 0.36 per cent from its previous close.

Published

on

By

Mumbai, Aug 3 : Bull run in domestic gold futures continued on Monday as prices in the international market surged to new highs.

The active October contract on the Multi-Commodity Exchange (MCX) touched a high of Rs 53,670 per 10 gram, while the August contract, which is due to end on Wednesday, touched a high of Rs 54,199 per 10 gram.

The October contract is currently trading at Rs 53,637, higher by Rs 192 or 0.36 per cent from its previous close.

Spot gold in the international market touched an all-time high of $1,987.95 per ounce earlier in the day.

The safe haven demand for gold refuses to die down as uncertainty over the global economic situation and the ongoing pandemic continues.

Anuj Gupta, DVP, Commodities and Currencies Research, Angel Broking, said that it is more of an impact of the international trend which has been witnessed on the Indian futures market on Monday.

A recent report by the World Gold Council (WGC) showed that it is the record inflow into gold-backed ETFs (Exchange Traded Funds) which has caused the rally in the prices of the yellow metal. The consumer demand, however, has hit rock-bottom amid the pandemic.

Inflows into gold-backed ETFs (gold ETFs) accelerated in Q2, taking H1 inflows to a record-breaking 734 tonne. First half inflows surpassed the previous annual record from 2009 of 646 tonne and lifted global holdings to 3,621 tonne, the report said.

In line with the trend in gold futures, the September contract of silver on the MCX also touched a high of Rs 65,951 per kilogram. Currently, its trading at Rs 65,820 per kg, higher by Rs 836.

Apart from the investment and industrial demand, the supply concerns for silver have lifted its prices. Peru, the world’s second-largest silver producer, saw its mine supply fall by one-third due to the Covid-induced lockdowns.

Continue Reading

Business

Microsoft says to keep exploring TikTok purchase after talks with Trump

Published

on

Tik Tok

Microsoft Corp said on Sunday that it would continue discussions to acquire popular short-video app TikTok from Chinese internet giant ByteDance and that it was aiming to conclude the negotiations by September 15.

The company made the statement following a conversation between its CEO Satya Nadella and U.S. President Donald Trump. It said it would ensure that all of the private data of TikTok’s American users is transferred to and remains in the United States.

“Microsoft fully appreciates the importance of addressing the president’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” Microsoft said in a statement.

The company added that there was no certainty a deal would be reached.

Source(s): Reuters

Continue Reading

Business

CAPSI seeks service tax exemption for private security services

Published

on

By

modi in office

New Delhi, Aug 2 : The Central Association of Private Security Industry (CAPSI) has written to Prime Minister Narendra Modi, seeking exemption of the sector from the payment of service tax.

In its letter, the industry body has sought a meeting with the Prime Minister to discuss the issue at length.

“It is strongly recommended that in order to create goodwill among the citizens post Covid, the private security services should be declared tax free as the majority of such are being availed by lakhs of RWAs and SMEs. Consumers of the private security services will be hugely benefited as such services will become more affordable,” the letter signed by CAPSI Chairman Kunwar Vikram Singh said.

Singh contended that the private security industry, which is to a large extent filling up the void existing in the internal security environment due to lack of government forces, is actually saving the government exchequer huge amounts.

“This reality needs to be accepted by the government and hence in return, the government should compensate the industry by exempting paying of service tax by the private security agencies,” he said in the letter.

Such a move will act as a source of encouragement to the private security agencies to be more vigilant and efficient in discharging their duties, Singh added.

Continue Reading
Advertisement

Most Popular

Corona Virus (COVID-19) Live Data

COVID-19 affects different people in different ways. Most infected people will develop mild to moderate illness and recover without hospitalization.