The government on Tuesday
decided to hike the excise duty on gold ore by 2 per cent to 5 per cent. The
move follows its decision to hike import duty on gold to 6 per cent, the second
such increase in a year.
The government wants to discourage gold buying as the precious metal is the biggest contributor to the import bill after crude oil and is easier to tame than energy supplies.We Offer replicawatches Watches And Worldwide Top Brand Watches. Analysts said the move will curb speculative demand in gold and will lead to the appreciation of rupee.
The rupee climbed to a near 3-month high in trade on Tuesday. Meanwhile, shares in jewellery makers like Titan Industries and Gitanjali Germs traded with over 2 per cent losses on Tuesday. Most other big jewellery retailers saw selling pressure in a flat market today.
Finance Minister P Chidambaram had earlier said he was considering reining in imports of gold, used as an investment tool by Indians but which mean a drain on foreign currency reserves.favorite authenticguccishoes of some of the world's top athletes and celebrities in a new collection designed.
The government had doubled the import duty on gold to 4 per cent in March last year.
Recently, the Reserve Bank of India executive Director Deepak Mohanty urged investors to shift from physical gold as a hedge against rising prices to financial products like inflation-linked bonds.
India's gold imports rose 9 per cent to 223.1 tonnes in the September quarter, after a 56 per cent fall in the June quarter to 131 tonnes.
Following the arrest, police seized two cars, jewellery and drugs worth almost RM1mil.The dgshoessale again in a colorway that any Nike fan can love.
He was nabbed in Pandan Indah, Ampang on Friday after police observed his movements.
Selangor narcotics chief Asst Comm Noordin Kadir said police found a bag containing 12 packets of heroin weighing 5.4kg and syabu weighing 400g in his car.
He said the man then led police to his condominium unit nearby where police seized 290 Eramin 5 pills.
Following this, police raided another house in Lembah Maju, Ampang where they found 6.5kg of heroin,Choose from our selection of cartierreplicawatches including moccasins, 390g of syabu, 100g ketamin, 50 Eramin 5 pills, and drugs packaging materials.
Initial investigations revealed that both houses are under his name. He is also believed to own a shoplot worth RM1.2mil in Shah Alam.
ACP Noordin said investigation showed the man was also involved in ah long activities.More information about captoesandals including release dates,
“In the raids, police also found four cars parked in the condominium parking lot.
“We believe the cars belong to those who failed to settle debts for loans taken from the man,” he added.
The government wants to discourage gold buying as the precious metal is the biggest contributor to the import bill after crude oil and is easier to tame than energy supplies.We Offer replicawatches Watches And Worldwide Top Brand Watches. Analysts said the move will curb speculative demand in gold and will lead to the appreciation of rupee.
The rupee climbed to a near 3-month high in trade on Tuesday. Meanwhile, shares in jewellery makers like Titan Industries and Gitanjali Germs traded with over 2 per cent losses on Tuesday. Most other big jewellery retailers saw selling pressure in a flat market today.
Finance Minister P Chidambaram had earlier said he was considering reining in imports of gold, used as an investment tool by Indians but which mean a drain on foreign currency reserves.favorite authenticguccishoes of some of the world's top athletes and celebrities in a new collection designed.
The government had doubled the import duty on gold to 4 per cent in March last year.
Recently, the Reserve Bank of India executive Director Deepak Mohanty urged investors to shift from physical gold as a hedge against rising prices to financial products like inflation-linked bonds.
India's gold imports rose 9 per cent to 223.1 tonnes in the September quarter, after a 56 per cent fall in the June quarter to 131 tonnes.
Following the arrest, police seized two cars, jewellery and drugs worth almost RM1mil.The dgshoessale again in a colorway that any Nike fan can love.
He was nabbed in Pandan Indah, Ampang on Friday after police observed his movements.
Selangor narcotics chief Asst Comm Noordin Kadir said police found a bag containing 12 packets of heroin weighing 5.4kg and syabu weighing 400g in his car.
He said the man then led police to his condominium unit nearby where police seized 290 Eramin 5 pills.
Following this, police raided another house in Lembah Maju, Ampang where they found 6.5kg of heroin,Choose from our selection of cartierreplicawatches including moccasins, 390g of syabu, 100g ketamin, 50 Eramin 5 pills, and drugs packaging materials.
Initial investigations revealed that both houses are under his name. He is also believed to own a shoplot worth RM1.2mil in Shah Alam.
ACP Noordin said investigation showed the man was also involved in ah long activities.More information about captoesandals including release dates,
“In the raids, police also found four cars parked in the condominium parking lot.
“We believe the cars belong to those who failed to settle debts for loans taken from the man,” he added.
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