Around the Globe

Around the Globe

Gold jewellery demand to fall 2-4% this year

Higher gold prices and lesser availability of finance for jewellers will see jewellery demand growth weakening in 2018. Regulatory risks too will continue to dampen the demand.

In calendar year (CY) 2017, gold jewellery demand grew by 12 per cent in volume terms and 9 per cent in value. According to rating agency Icra, jewellery demand is expected to grow slower by 2-4 per cent this year. However, it has estimated growth in value terms during the year will be around at 5-7 per cent due to higher gold prices.

India all set to gain from global talent deficit

India is projected to have a skilled labour surplus of 245 million workers by 2030, mainly on the back of “vast supply of working age citizens”, even as most of developed and developing economies are expected to grapple with talent crunch at that time, says a study.

Organisational consulting firm Korn Ferry on Monday said there is likely to be a “talent deficit of 85.2 million workers” by 2030 across the 20 major developed and developing economies that were covered in the study.

N. Korea Denies US Pressure Is Behind Denuclearization

North Korea said US sanctions aren’t the reason behind its willingness to remove nuclear weapons from peninsula, accusing its adversary of trying to ramp up tensions ahead of a summit between leaders of the countries.

The US is misleading the public by saying its sanctions are working, KCNA said on Sunday. America isn’t being helpful if it continues to characterize North Korea’s steps as a sign of weakness, while pressuring and making military threats, the North’s state-run news agency said.

Support seen at 10,640

The market ended in the red, dragged by IT stocks on negative global cues amidst caution about the China-US trade talks. The Sensex fell 73.28 points, or 0.21 per cent, to settle at 35,103.14 while the Nifty fell 38.40 points, or 0.36 per cent, to settle at 10,679.65. The Federal Reserve on Wednesday kept the key US interest rate steady, saying that while inflation has moved higher, it's likely to run near the central bank's 2 per cent target in the coming months. The central bank maintained its fed funds at a range of 1.5-1.75 per cent.

US-China trade talks centre on rivalry over technology

A high-powered US delegation arrived in Beijing on Thursday for talks with Chinese officials on defusing tensions that are propelling the world's two largest economies toward a trade war. Treasury Secretary Steven Mnuchin is leading the group, which includes Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer. Liu He, President Xi Jinping's top economic adviser, was heading the Chinese side in the talks, which analysts say appear unlikely to yield a breakthrough given the two sides' intensifying rivalry in strategic technologies.

Trump Lawyers Said to Lack Security Clearance

Donald Trump’s current team of lawyers lacks the security clearances needed to discuss sensitive issues related to a possible presidential interview with Special Counsel Robert Mueller, according to two people familiar with the matter.

Trump’s former lead lawyer John Dowd had been the only member of the president’s personal legal team with a security clearance, the people said. When Dowd quit in March over disagreements with Trump on legal strategy, Jay Sekulow became the lead lawyer on the investigation and is still waiting for his clearance.

89% of organisations plan to implement AI technologies in the next 12 months

According to new research from global data and storage leader Seagate Technology, 96 percent of senior IT professionals believe AI applications will drive productivity and business performance. However, an almost equal number of respondents (95%) believe further investments in their IT infrastructure are required to enable them to support their use of AI.

Special counsel team has floated idea of subpoena for Trump

The special counsel leading the Russia investigation raised the prospect in March of issuing a grand jury subpoena for President Donald Trump, his former attorney said, confirming that investigators have floated the extraordinary idea of forcing a sitting president to testify under oath.

Attorney John Dowd told The Associated Press yesterday that special counsel Robert Mueller's team broached the subject during a meeting with Trump's legal team while they were negotiating the terms of a possible interview with the president.

Koreas dismantle propaganda loudspeakers at tense border

The rival Koreas dismantled huge Cold War-era loudspeakers used to blare propaganda across their tense border on Tuesday, as South Korea’s president asked the United Nations to observe the North's planned closing of its nuclear test site.

The dismantling of dozens of loudspeakers was in line with an agreement on reconciliation by the leaders of the Koreas at their historic summit last Friday. It is still unclear if such measures can bring permanent peace because no major breakthrough in the North Korean nuclear standoff was produced at the summit.

May names new minister to try to end immigration scandal

British Prime Minister Theresa May appointed a former banker of South Asian origin as interior minister on Monday, trying to draw a line under an immigration scandal threatening her authority as she negotiates Brexit. Sajid Javid, the son of immigrants from

Pakistan, replaces Amber Rudd, who quit as Home Secretary after acknowledging she had “inadvertently misled” parliament by denying the government had targets for the number of illegal migrants Britain deports.