Business
Silver rate today: White metal hits lifetime high at Rs 1.85 lakh/kg; festive demand & weak rupee drive bullion rally – The Times of India
Silver prices soared Rs 6,000 on Tuesday to touch a lifetime high of Rs 1,85,000 per kilogram (inclusive of all taxes), extending their winning streak to the fifth straight session, according to trade data.The white metal had closed at Rs 1,79,000 per kg in the previous session. Traders attributed the sharp rally to strong festive and wedding season demand from jewellers and retailers, as well as a weaker rupee, which slipped 12 paise to revisit its all-time low of 88.80 against the US dollar, PTI reported.Bullion dealers said heightened retail buying ahead of Dhanteras and Diwali has lifted sentiment across precious metals, with both gold and silver hitting record highs in domestic markets.In global trade, spot silver retreated after briefly touching an all-time high of $53.54 per ounce, and was last quoting 1.92 per cent lower at $51.36 per ounce. Spot gold, too, eased from record levels but remained firm, trading 0.72 per cent higher at $4,140.34 per ounce after earlier scaling an all-time high of $4,179.71 per ounce.Meanwhile, On Tuesday, gold prices surged by Rs 2,850, crossing the Rs 1.3 lakh per 10 grams mark in the national capital for the first time, driven by robust festive buying by jewellers and retailers ahead of Dhanteras.As per the All India Sarafa Association, 99.9 per cent purity gold climbed to a record Rs 1,30,800 per 10 grams (inclusive of all taxes) from the previous close of Rs 1,27,950. Similarly, 99.5 per cent purity gold advanced to Rs 1,30,200 per 10 grams, up from Rs 1,27,350 per 10 grams.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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