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Jewellers want more hallmarking centres to be set up

Jewellers want more hallmarking centres to be set up

Finance
KOLKATA: With government deciding to make gold hallmarking mandatory from January 15, 2021, jewellers say that more hallmarking centres should come up to make the initiative a successful one. Vaibhav Saraf, director, Aisshpra Gems And Jewels said "Mandatory hallmarking will increase transparency and customer confidence in the industry. The key to successful implementation is going to be elimination of fake hallmarking centres and rapid expansion in number of centres.” There are 860 hallmarking centres in the country. Each of these centres can handle 2000 pieces of gold jewellery per day. In FY19, around 450 tonnes of gold were hallmarked. India annually consumes 1000 tonnes of gold. Added Tanya Rastogi,director, India Bullion & Jewellers Association (IBJA) and Lala Jugal Kishore Jewell
This is one retailer trick you don’t want to fall for this holiday season

This is one retailer trick you don’t want to fall for this holiday season

Finance
Holiday shoppers at the Time Warner Center in New York.Scott Mlyn | CNBCYou've likely heard the pitch, "Would you like to apply for a store card?" as you're making purchases.Many times, you should just say no to that offer, new research shows.That's because many stores will try to lure customers with terms like "0% interest" or "special financing." Once the initial time period ends, that low introductory deal turns into something much worse, including retroactive interest applied to the initial amount you charged.For example, if you buy an $ 800 TV and have a $ 20 balance when a six-month introductory offers runs out, you will be charged interest on the entire $ 800 purchase."That extends the timeline you had thought that you would be paid off by that much longer," said Jill Gonzalez, seni...
‘Why I want to sue Asda over new employment contract’

‘Why I want to sue Asda over new employment contract’

Business
Duncan Carson has just lost his job as a baker at an Asda store near Stoke, but he is preparing to put up a fight.He is among the Asda workers who have been sacked after refusing to sign up to new contracts, but he aims to take the supermarket to an employment tribunal."I think someone should stand up to them," he said. "What is the point in having a contract if they can unilaterally change it?"Asda gave its workers until midnight on Saturday to agree to new terms, which include unpaid breaks, changes to night shift payments and being called to work at shorter notice.The supermarket said 120,000 workers had agreed to the deal, and that fewer than 300 had yet to sign up to the new contract.But Mr Carson, who has worked for Asda fo...
China’s giant middle class is still growing and companies from Walmart to start-ups want to cash in

China’s giant middle class is still growing and companies from Walmart to start-ups want to cash in

Finance
Walmart has three Sam's Clubs in Beijing, including this one in Daxing District. The company plans to open five more in the capital city.Evelyn Cheng | CNBCBEIJING — Some are trying to create characters as memorable as Mickey Mouse. Others are launching lessons on how to cook steak. Still others know Chinese parents will pull out all stops for their kids.It's all a bet on the Chinese middle class, a consumer force McKinsey analysis predicts could reach 550 million in three years — that's more than one-and-a-half times the entire U.S. population today.American consumer giants and a slew of Chinese companies are now angling for a piece of the largest middle class market in the world.For Shanghai-based Pearl Studio, China's imminent rise as the world's largest movie market means the timing is