India meets nearly all of its gold demand through imports.
India’s foreign exchange (forex) reserves increased by $4.368 billion during the week ended April 26, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $418.515 billion from $414.147 billion reported for the week ended April 19.
Ace sprinter Hima Das bagged her third international gold in two weeks after she bagged the top spot in women's 200m event at the Kladno Memorial Athletics Meet here in Czech Republic.
Gold demand was robust in India and Singapore this week as a correction in prices ahead of a key gold-buying festival boosted purchases even as major centres like China and Japan were closed for most of the week due to holidays.
Gold prices have hit a record high amid a rush for safe haven assets owing to the fears of a recession. Goehring & Rozencwajg, a research firm which focuses on investments in natural resources, says the great gold bull market has begun.
Value of funds collected through the UAE Direct Debit system (UAEDDS) of the Central Bank of the UAE (CBUAE) rose by 7 per cent to Dhs61 billion in 2019 from Dhs57 billion in 2018, according to figures released by the Central Bank of the UAE.
Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises (SMEs) confirmed that supporting SMEs is a top priority in the Ministry’s agenda and in ensuring the growth of the national economy in the future.
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced that it is organising the first-ever Dubai Technology Tour, which aims to drive UAE-India collaboration in the areas of fintech and healthtech.