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Saudi Arabia's oil minister on Sunday defended OPEC's decision to keep output steady despite the biggest market slump in years, saying current prices would help global economic growth and petroleum demand, while Arab states would escape major damage.Ali al-Naimi blamed a price slide to levels half of those six months earlier on speculators and what he called a lack of cooperation by major producers ...
The Department of Telecom is expected to notify new penalty norms within a month that may end the practice of levying maximum penalty of Rs 50 crore for even minor mistakes."We are trying to get it notified soon...May be within a month," a senior DoT official told PTI when asked about the status of the proposed norms.Inter-ministerial panel Telecom Commission in March had approved a new penalty scheme, ...

Gold imports crawl in Dec

2014-12-21 00:45:00

Despite the government removing restrictions on gold imports late past month, imports of the precious metal have not picked up because of a supply glut. Industry sources say hardly 15 tonne of gold has been imported in December so far on consignment basis. For two weeks after government lifted the 80:20 scheme, there were absolutely no imports, they added. Under the consignment route, importers ...
Gold prices recovered by Rs 85 to Rs 27,310 per ten grams at the bullion market in the national capital on emergence of buying by jewellers and retailers at prevailing levels even as the precious metal weakened overseas. However, silver remained under pressure on sluggish demand from consuming industries and fell by Rs 460 to Rs 36,140 per kg. Traders said emergence of buying by jewellers and retailers ...
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