Gold down by Rs 235 to hit 6-month low on falling demand

February 16, 2013

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New Delhi, Feb 16: Gold prices today plunged to a six-month low of Rs 30,390 per 10 grams here due to brisk selling by stockists on fall in demand amid weak global trend.

After losing Rs 175 in the last two sessions, the precious metal fell further by Rs 235 to Rs 30,390 per 10 grams, a level last seen on August 16 last year.

Bullion merchants said demand for the precious metals dried up after end of the marriage and festive season which normally boost the buying activity.

They said a weak trend in the overseas markets where gold dipped below USD 1,600 an ounce after Federal Reserve Chairman said the US economy is recovering, also reduced demand for the metals as an alternate investment option.

Meanwhile, the world's largest gold investors offloading their holdings in exchange-traded products backed by gold last quarter, further influenced the market sentiment, they added.

Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as the prices dropped the most in more than eight years.

With a general weakening trend, silver prices also declined sharply on reduced offtake by industrial units and coin makers.

On the domestic front, gold of 99.9 and 99.5 per cent purity dropped by Rs 235 each to Rs 30,390 and Rs 30,190 per 10 grams, respectively. Sovereigns lost Rs 50 to Rs 25,200 per piece of eight grams.

Silver ready fell by Rs 570 to Rs 56,530 per kg and weekly-based delivery by Rs 1,315 to Rs 56,060 per kg on the lack of buying by speculators.

As the seasonal demand tumbled, silver coins dropped by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

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News Network
December 7,2025

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Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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News Network
December 4,2025

Udupi: A 40-year-old NRI from Udupi has reportedly lost more than Rs 12.25 lakh in an online investment scam operated through Telegram.

According to a complaint filed at the CEN police station, Leo Jerome Mendonsa, who has been working in Dubai for the past 15 years in computer accessories sales, maintains NRI accounts in Karkala and Nitte.

On November 12, 2025, Mendonsa was added to a Telegram group called Instaflow Earnings by unknown individuals. Users identified as Priya and Dipannita persuaded him to invest in “Revenue Tasks.” Initially, Mendonsa transferred Rs 1,100 multiple times and received the promised returns, encouraging him to continue.

On November 14, another user, Nishmitha Shetty, directed him to register on a website, digitvisionuoce.cc, and invest Rs 4 lakh in various shares. Over the next few days, he made multiple transfers totaling Rs 12,25,000, including Rs 50,000 via Google Pay, believing the scheme was legitimate.

After receiving the money, the alleged handlers stopped responding, and neither the invested amount nor the promised profits were returned.

The CEN police have registered a case under Sections 66(C) and 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.

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News Network
December 2,2025

Mangaluru, Dec 2: Mangaluru International Airport responded to a medical emergency late on Monday night. Air India Express flight IX 522, travelling from Riyadh to Thiruvananthapuram, was diverted to Mangaluru Airport after a passenger in his late 30s experienced a medical emergency on board.

The Airport’s Operations Control Centre received an alert regarding the passenger’s health condition. The airport activated its emergency response protocol, mobilising the airport medical team and coordinating with stakeholders including CISF, immigration, and customs. 

Upon landing, airport medical personnel attended to the passenger, assessed his condition, and arranged to shift him to a local tertiary-care hospital for further treatment. The passenger’s relatives accompanied the passenger, who incidentally received necessary medical care on board, which helped stabilise the situation.

Following the handling of the emergency, the flight departed for Thiruvananthapuram at 2:05 am on Tuesday.

"We appreciate the cooperation of all parties involved, and this incident reaffirms our ongoing commitment to prioritising passenger safety and readiness to respond to unforeseen emergencies with professionalism and care," the Airport spokesperson said. 

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