Friday, October 16
The Delhi High Court on Wednesday heard in detail, the challenge filed by Turkish firm Celebi Airport Services against the revocation of its security clearance by the Bureau of Civil Aviation Security (BCAS). Senior advocate Mukul Rohatgi, representing Celebi, stated that the company's extensive operations in India, employing over 10,000 personnel across multiple airports over the last 17 years. Rohatgi argued that Celebi's security clearance, originally granted in 2022 under Rule 15 for a five-year term, was abruptly revoked without prior notice or a hearing, violating the principle of procedural fairness. He argued that the lack of transparency surrounding the reasons for this decision, suggesting that the Turkish shareholding might have influenced the government's stance. He asserted th
Gold prices rebounded by Rs 1,910 to Rs 98,450 per 10 grams in the national capital as rising global uncertainties triggered a fresh wave of safe-haven buying. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,540 per 10 grams on Tuesday. Gold of 99.5 per cent purity appreciated by Rs 1,870 to Rs 98,000 per 10 grams (inclusive of all taxes) on Wednesday from the previous day's close of Rs 96,130 per 10 grams. "A weak dollar supported gold prices. Investors are also evaluating sovereign risk after Moody's downgraded the US credit rating due to fiscal deficit concerns," Abans Financial Services' Chief Executive Officer Chintan Mehta said. The downgrade has heightened uncertainty around the long-term stability of US finances, pro
