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After the Union government increased import duties on gold and silver on Tuesday, the prices of the precious metals surged sharply in the domestic markets on Wednesday. Gold futures on the Multi Commodity Exchange rose by nearly 6% to reach Rs 1.62 lakh per 10 grams and silver futures jumped by more than 6% to Rs 2.96 lakh per kg.
Meanwhile, the rupee closed at a record low of 95.7 against the dollar. The currency touched its lowest-ever intraday level of 95.8, weakening for the fourth consecutive session.
On the other hand, the Indian stock market rose marginally, with the benchmark Sensex increasing by 0.07% to 74,608.9 at closing. The NSE Nifty50 rose by 0.14% to 23,412.6. Read on.
Modi’s austerity appeals are a misplaced solution for India’s economic woes, writes Freddy Thomas
Air India will temporarily suspend its services on certain international routes from June to August. This decision was taken against the backdrop of airspace restrictions over some regions and record-high prices of jet fuel, stated the airline.
Among the routes that will be disrupted are Delhi-Chicago and Mumbai-New York. Flights on the Delhi-Shanghai, Chennai-Singapore, Mumbai-Dhaka and Delhi-Malé routes will be suspended throughout August.
The airline will reduce the frequency of its flights to San Francisco, Toronto, Vancouver, Paris, Copenhagen, Melbourne, Sydney, Singapore and Bangkok. Read on.
The Bharatiya Janata Party government in Assam will introduce the Uniform Civil Code bill in the Assembly on May 26, said Chief Minister Himanta Biswa Sarma. He added that the state Cabinet had approved the draft legislation.
The chief minister said that the tribal population in the state would be kept outside the purview of the legislation. “We have also kept all rituals, traditions and customs practised by the people of Assam outside the scope of the Uniform Civil Code,” he said.
Implementing the UCC was one of the BJP’s election promises in Assam. Read on.
Tamil Nadu Chief Minister Vijay removed astrologer Rickey Rathan Pandit Vettrivel as an officer on special duty. This came hours after a plea had been filed in the Madras High Court challenging Vettrivel’s appointment.
Vettrivel had reportedly predicted that the Tamilaga Vettri Kazhagam would emerge as a major political force, and that Vijay would win the Assembly elections and become the chief minister.
Meanwhile, the party won the floor test in the Assembly as 144 MLAs in the 234-member House voted in favour of the confidence motion moved by the Vijay-led government. Read on.
Watch: Do these Assembly election results signal the end game for opposition?
Two structures linked to All India Majlis-e-Ittehadul Muslimeen corporator Matin Patel were demolished by the Chhatrapati Sambhajinagar Municipal Corporation. Among them was the house where suspended Tata Consultancy Services employee Nida Khan was allegedly sheltered.
The civic body said it had issued notices to Patel on Saturday regarding alleged unauthorised constructions at his residence and an office in the same locality. Patel later approached the court seeking a stay on the matter, but it was not granted. Read on.
Three church leaders were killed in Manipur after the vehicles in which they were travelling were ambushed as they returned to Kangpokpi from a meeting in Churachandpur. Five others were injured.
While the apex body of the Kuki tribes, Kuki Inpi Manipur, alleged that the armed Naga group Zeliangrong United Front-Kamson faction was behind the attack, an unidentified security official said that the involvement of any militant outfit was being investigated. Read on.
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