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Crypto Transactions to Attract GST Soon; What This Means for Traders, How it May Affect You

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At present, the government levies a 30 per cent income tax on capital gains made through virtual digital assets and cryptocurrencies, and a 1 per cent TDS.

GST on cryptocurrencies likely to be a reality soon; All you need to know.

GST on cryptocurrencies likely to be a reality soon; All you need to know.

Indirect tax on cryptocurrencies may be implemented soon, as the government has started to work on a comprehensive regime for crypto assets. Framing these rules would prevent any loss of revenue to the exchequer due to the lack of clarity around the true nature of these assets, a recent report has said. The report also mentioned that cryptocurrencies may attract GST rates between 18 and 28 per cent, quoting people familiar with the development.

As per the report by Mint, the finance ministry aims to “define the characteristics of cryptocurrencies, their usage, and how they fit into the existing legal framework”. Once the legal nature is decided, the appropriate GST rate will be set, the two sources said requesting annonimity.

“We are still discussing the applicability of GST in case of crypto assets…right now, it is levied on services… so we need to see if crypto assets are declared as a good or service. We can have a special rate for it. It may not necessarily be 18 per cent or 28 per cent. Maybe somewhere between that. We have had a few discussions on it and will arrive at a decision soon,” one of the two people told the newspaper.

GST on Crypto: What Happens to the Current Tax Regime?

At present, the government levies a 30 per cent income tax on capital gains made through virtual digital assets and cryptocurrencies, while also charging a 1 per cent TDS while buying them. If GST on cryptocurrencies is imposed, it will mean that the government will charge an indirect tax on this asset, which is different from income tax and TDS that fall under the direct tax category.

“The only current tax regime applicable to crypto is direct tax or income tax. The current tax regime of Direct Tax at 30 per cent charged on ‘Income from Crypto Asset’ forms a part of our individual direct income. Whereas, GST is an indirect tax which is charged on sale or purchase of Goods and Services and the same is payable by an individual only in the capacity of a consumer. Meaning, even if crypto is brought under the purview of GST, the current direct tax regime will subsist,” explained Sandeep Bajaj, Managing Partner at PSL Advocates & Solicitors.

“The current taxation regime is expected to be altered to accommodate taxation of crypto, especially with the possible introduction of a tax rate different from the currently existent slabs. More changes, however, depend entirely upon how the government treats crypto-related transactions,” noted Nikhil Varma, Managing Partner at Miglani Varma & Co.

Ankit Jain, Partner at Ved Jain & Associates, added, “Till the finalisation of the rules around cryptocurrency, the applicability of GST has been informally kept in abeyance.”

What Happens to Crypto Transactions with Introduction of GST Regime?

Till the government comes out with new tax rules for cryptocurrencies, ambiguity will prevail on how crypto transactions will be treated in the future. According to Aditya Chopra, Managing Partner at Victoriam Legalis, “Under the GST law, ‘goods’ inter alia means every kind of movable property other than money and securities. Further, ‘money’ means legal tender or foreign currency recognised by RBI, therefore, digital assets are not classified as ‘money’ under GST. Also, digital assets do not fall within the meaning of ‘security’ defined under GST law.”

“If it (GST) is charged on the entire or gross value, then Crypto will be considered as a ‘Good’ and GST shall be levied, at the decided rate, on the price of such Crypto. Whereas, if it is levied on the service fees, any service fees or transaction fees for exchange of crypto will be subjected to the determined rate of GST,” noted Bajaj.

How Will This Impact Crypto Trading in India?

Since the introduction of the income tax rule and the subsequent TDS provisions, crypto trading in India has taken a hit, with major exchange platforms recording lower volumes of trade.

“While imposition of Direct Tax on Crypto has already diluted the interest of investors, imposition of GST will further impact the same. On the other hand, the decision to tax Crypto is bound to put to rest the fears of investors qua an outright ban on crypto currencies in the country,” said Bajaj.

Chopra said the trading volumes across the country will fall if such a regime is introduced. “The trading volumes across markets would fall and traders would move towards international exchanges, which do not fall under the purview of the Indian government. Also, customers would look to move their cryptocurrencies from exchanges to private wallets. It can also result in a direct connection between decentralised exchanges and customers for business activities,” he said.

The trading of cryptocurrencies is also expected to become complicated, with exchanges having to maintain appropriate records of their clients to be able to comply them on real time basis.

“With the introduction of GST regime, trading in crypto would become quite complicated. The law would provide the type of traders who have to charge GST and those who don’t. Further, there may even be categories of traders who would be allowed input tax credit of GST paid on purchase of cryptos and those who won’t be allowed

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2025 Canadian QB draft class could be the best in history

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The 2025 Canadian quarterback class has a chance to be the best in history.

Depending on who you ask among CFL general managers and head coaches, some agree it’s the top group to simultaneously come out from the collegiate ranks, while others believe it’s a high-end pool but don’t want to go as far as crowing it the best ever.

It’s clear Oakville, Ont. native Kurtis Rourke from Indiana University and London, Ont. native Taylor Elgersma from Wilfrid Laurier University have separated themselves from the pack, though Université de Montréal QB Jonathan Sénécal and Université Laval product Arnaud Desjardins are both Vanier Cup champions with the former winning the Hec Crighton Trophy in a dream 2023 season.

Burlington, Ont. native Keagan Hall produced a sensational senior year at McMaster University in 2024, while Texas native Garrett Rooker, who will count as a Canadian in the CFL due to his U Sports experience, has played at a high level with the University of British Columbia. University of Manitoba product Jackson Tachinski used his dual-threat abilities to lead the Bisons to a 7-1 regular season record in 2024.

Starting west and moving east, 3DownNation posed Canadian QB class questions to each Canadian Football League team.

B.C. Lions’ general manager Ryan Rigmaiden

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“I think it is. You look at the talent at the top with Kurtis and Taylor and not only are these guys terrific players, but they’re getting NFL attention as wellthat hasn’t happened in my time. In my 15 years, top to bottom, this is one of the most talented classes, and also with the quarterbacks specifically, it certainly is.”

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“From an evaluation standpoint, whether it’s in the United States or in Canada, there’s always going to be a level of competition question. I think you have to look at the player, you have to look at his abilities, you have to look at his production, you have to look at his makeup, and then you have to be honest with yourself on what type of calibre players that he played.”

“Would there be this much scrutiny around Taylor if he played at a Power 4 school? I don’t think so, but I think they’re valuable questions to ask. It’s about each team’s process of how you move forward to get your evaluation and make sure it’s a correct one.”

“These guys have both checked the boxes with everything they’ve been asked to do, going to the next level, so to speak — Senior Bowl with Taylor, he played at the play-in game at the Tropical Bowl. Kurtis, how he elevated Indiana places that they’ve never gone. When things were at their highest, when things meant the most, both of these guys have answered the call.”

“We’ve had tremendous success with Nathan. We don’t have any problem bringing in a Canadian quarterback and both these guys are in that category.”

Does having a Canadian starting quarterback incentive you to draft a Canadian backup QB?

“It’s icing on the cake. You’re going to bring in the best players possible. If you can bring in a talented Canadian to where, God forbid, if Nathan should ever go down, we don’t have to change the ratio because we’ve got a Canadian backing him up, I think that’s a big advantage. We’re going to bring in the best guys possible.”

B.C. Lions’ head coach Buck Pierce

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“They didn’t just become great in university, it’s something that they’ve worked at. Kudos to all the coaches and the growth of the Canadian quarterback. When you look at those guys, you put their tape on, it gets you excited, and you’ll see the talent and the growth.”

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“You put those guys with any quarterbacks in this coming draft, you look at the way that they can throw, you look at the way they can move, their production, and they’re right up there.”

Edmonton Elks’ general manager Ed Hervey

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“When you’re talking about the quarterback talent, I think that it is one group that we’ve seen that has a little bit more talent than we’ve seen in the past of guys that are going to potentially get an opportunity. I can’t disagree with you that as far as talent and potential, it is there.”

“There’s a young man [Taylor Elgersma] that’s getting some NFL looks, but I always wait to see what guys do when they actually get to the next level. I think that, for me, has always been the fair assessment of a player.”

Does having a Canadian starting quarterback incentive you to draft a Canadian backup QB?

“When we discussed the draft and we discussed what the possibilities of drafting a quarterback are, it’s going to fall into who the best player is for us. It does not exclude us from drafting a quarterback. Based on the talent that’s there, anything is possible. We’re in a position where we can make that choice and feel quite good about it if we were to do that.”

Calgary Stampeders’ head coach and general manager Dave Dickenson

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“It’s pretty good. In the NFL too, the passing game, receivers, there’s more passing, better players, more opportunity.”

“The guys are good players. Happy to see that the guys at the combine were not only quite good players, but they’re draft eligible. In the past, we’ve had to bring in quarterbacks for the combine that aren’t even draft-eligible. It’s a good group and a lot of good players out there.”

Saskatchewan Roughriders’ general manager Jeremy O’Day

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“I don’t know if I’m that old, but I think it’s a pretty darn good one. I would say it’s got to be up there towards the top. I don’t know if it’s the best, but it certainly could be.”

Winnipeg Blue Bombers’ general manager Kyle Walters

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“I would say yes. When you’re going through all the draft work and you start talking about who’s an NFL guy and who’s going to get NFL looks, which could affect where they get drafted in the CFL, I don’t recall where two quarterbacks are in that discussion. It looks like the top Canadians in this draft we might not know when we’re going to see them, I don’t recall ever saying or remembering that two of them are quarterbacks, so this is very unique draft year. I think it’s awesome for the Canadians and that position.”

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“Just playing well. I don’t know that it’s respect, it’s going out there and having a heck of a year and showing that, whether you’re Canadian or American, good football is going to get you noticed by professional evaluators either north or south of the border. Just go out there and play good football.”

Hamilton Tiger-Cats’ general manager Ted Goveia

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“I think the argument could be made for sure that it’s the best class. Teams are throwing the ball, a lot of U Sports teams are running a lot of CFL concepts, so these players are better acclimated coming out. I’ve been impressed across the board, looking at a number of quarterbacks, including some of the guys that aren’t even the higher profile guys, it’s a good group.”

Hamilton Tiger-Cats’ head coach Scott Milanovich

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

I would agree. I don’t have as many years in the league as Teddy, but it’s the best one I’ve seen thus far.”

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“I think that’s happening. Two of our nine teams, as of right now, have Canadian starters going into the new year. I think with the better coaching they’re getting, it seems that they’re getting more opportunities at some of the NCAA schools, and they’re getting better coaching at theSports level.”

Toronto Argonauts’ head coach Ryan Dinwiddie

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“Yeah, no question. The one year with [Michael] O’Connor I really dug in deep on him, I thought he had a chance. I think both quarterbacks [Kurtis Rourke and Taylor Elgersma] really got a chance to play in our league and I think both will get an opportunity in the NFL. I don’t think we’ll see them for a few years, if they do end up playing in the CFL. I think both of them are big, tall, athletic, strong arms, can play off script, can throw from a phone booth, but also escape out of the pocket and create.”

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“I think those two guys were great examples. I think that [Elgersma] might bring some more attention up north to the U Sports level for some of these quarterbacks. I think they’ve got to continue to develop, keep working”

“Look at Taylor, he was really green when he came into our camp, right out of hockey, didn’t know much about football. Then he goes and plays quarterback, you got to know what everybody’s doing, so that’s a lot of learning. He came in and we could see the physical traits, needed to clean up some mechanics, but you could see it. He slowly developed, slowly started slowing down for him on the field. He got a lot of reps in our camp and he didn’t look out of place by any means. I think some of the CIS quarterbacks are taking it to a new level and we recognize that in our league.”

Ottawa Redblacks’ general manager Shawn Burke

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“Definitely think it’s a strong class. I think when you look at it, the investment our league’s made in the quarterback program, you’re seeing some of the dividends of that, and it’s exciting to see these guys get an opportunity.”

“Taylor is being highlighted at a level with Senior Bowl and his Buffalo pro day. Kurtis without saying the national stage he was on. What they’ve done for their programs and who they are as leaders and who they are on film, it’s exciting.”

Ottawa Redblacks’ head coach Bob Dyce

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“I would say it’s right up there, if not the best. I think it’s a credit to Canadian football, the young Canadian coaches who are out there and have helped develop this group, like Shawn said, the CFL program. To see a group of this talent is fantastic.”

Montreal Alouettes’ general manager Danny Maciocia

Do you believe it’s the best Canadian quarterback class in CFL Draft history?

“History? Oh boy, I don’t know if I’m ready to say history because I haven’t been around that long. I would attempt to say it’s as good a class that I’ve been exposed to since I’ve been earning a living in the CFL. This is a pretty intriguing class, they’ve had a ton of success with their respective programs. I’m a firm believer that they’ve had a direct impact not only with their respective programs, but also the position that they play. They brought some awareness that Canadians could be successful playing the quarterback position.”

“We’re going to have an opportunity to evaluate them accordingly and then we will take the decisions that are best suited for the Montreal Alouettes.”

Montreal Alouettes’ head coach Jason Maas

What can Canadian quarterbacks do to earn more respect from American coaches and talent evaluators?

“I don’t know that it’s necessarily the American coaches they need respect from. Playing at a high level, at any level, is what every player that’s not in the CFL needs to do. When I’m watching film, I notice everybody. I could be watching one guy and another guy stands out because the plays he’s making. At the quarterback position: smart, accurate, and tough — if you’re displaying those three things, I don’t care where you play or what nationality you are, I can tell whether you can play or not.”

“We know the Canadian guys that stayed in U Sports played an extremely high level and I think we all have a lot of respect for the U Sports level of competition. Is there a difference with Rourke playing down in Indiana in the Big 10? Sure there is, but all three [Elgersma, Senecal, and Rourke] display those three attributes I talked about, and you have to be able to do that whatever level you are. Then whatever opportunity you get from there, you go to a combine, you go to something invited, now it’s apples to apples, you can compare it.

“I don’t know that they can do any more than what they’ve done. You can only control the controllables for yourself. All three of them have displayed that and done that at an extremely high level. Now it’s a matter of opportunity and then meeting that opportunity with a good result.”

The post 2025 Canadian QB draft class could be the best in history appeared first on 3DownNation.

Gold vs Nifty 50 Since 2000: Zerodha’s Nithin Kamath Breaks Down 24-Year Returns, Which Asset Wins?

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Nithin Kamath, CEO of Zerodha, noted gold’s 2,027% return since 2000, surpassing Nifty’s 1,470%. Gold showed steady growth, enduring market fluctuations, unlike Nifty.

Nithin Kamath shares Gold vs Nifty comparison for previous 24-years.

Nithin Kamath shares Gold vs Nifty comparison for previous 24-years.

Gold Vs Nifty 50 Returns Comparison: Nithin Kamath, CEO of Zerodha, shared insightful data highlighting gold’s impressive performance against the Nifty since 2000. In a post on X, he remarked on gold’s favourable returns for Indian investors, emphasizing its diversification benefits.

Kamath’s 24-year comparative chart revealed gold yielded a staggering 2,027 per cent return since 2000, surpassing the Nifty’s 1,470 per cent. Notably, gold demonstrated consistent price appreciation over this period, withstanding major market fluctuations. Conversely, the Nifty experienced significant downturns, including the 2008 financial crisis and the Covid-19-induced crash.

“Nobody can explain what makes gold prices move, but it seems to work,” Kamath added.

An infographic shared by Kamath illustrated gold’s 18 per cent appreciation in 2025, contrasting with the Nifty LargeMid 250’s -6 per cent decline. Similarly, in 2024, gold outperformed with a 25 per cent return, while the Nifty LargeCap 250 yielded 19 per cent.

Interestingly, since 2005, gold has delivered a consistent average annual return of 20 per cent, experiencing negative returns in only three years. In 2023, gold yielded a negative return of -18 per cent, followed by -8 per cent in 2015 and -2 per cent in 2021.

Gold Prices At Record High Amid Tariff Buzz

Gold prices have already moved up sharply by Rs 11,983 per 10 grams or 7% in last one month to Rs 91,115 from Rs 85,320 logged on March 2.

In global market, spot gold surged past $3,132.53 per ounce as on April 2, after hitting an all-time high of $3,148.88 earlier in the day, fueled by concerns over US tariffs and potential economic fallout. US gold futures were 0.4% higher at $3,164.20.



Nintendo Delays Preorders for the Switch 2, Citing Tariffs

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The Japanese video game company Nintendo said on Friday that it would delay preorders for its new console, the Switch 2, in the United States because of the tariffs imposed by President Trump.

The Switch 2’s price was unveiled as $450 this week. Its release date of June 5 remains unchanged, the company said.

U.S. preorders were supposed to begin on Wednesday for the anticipated follow-up to the Switch, which has sold more than 150 million units, making it one of the most popular gaming consoles of all time.

Nintendo said that it was delaying preorders “to assess the potential impact of tariffs and evolving market conditions” and that a new date would be announced later.

One week before the preorders were meant to start, Mr. Trump announced sweeping tariffs on nearly all goods imported into the United States, with particularly steep rates applied to goods from electronics manufacturing hubs like China (34 percent) and Vietnam (46 percent). After the levies take hold in the coming days, importers in the United States must pay the higher duties on products brought into the country.

Companies like Nintendo, Sony and Microsoft often sell gaming hardware at losses to expand their user base and make money on software. The Switch 2 game Mario Kart World, which will allow up to 24 drivers to explore off track, will cost $80.

Other games coming this year from established Nintendo franchises are Donkey Kong Bananza and Kirby Air Riders.

The Switch 2 will include a microphone to chat with other players, screen-sharing and the option to add a separate camera for streaming. It will have a 7.9-inch-long screen, the ability to run games at 120 frames per second and 256 gigabytes of internal storage.

World’s richest billionaires lost $200bn in single day after Trump’s tariffs rocked markets

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The richest people on the planet lost more than a combined $200bn in a single day on Thursday, after stock markets cratered in response to tariffs slapped on imports to the US by Donald Trump.

Just over a month ago, a gradual downturn in the stock market meant that 10 tech-focused American billionaires had lost a similar value across the course of 2025 – but this time, a far sharper shock wiped out that amount in one trading session.

Bloomberg’s Billionaires Index (BBI) tracks the fortunes and combined wealth of those whose assets tally at least a ten-figure sum, with the richest 13 on that list currently worth a minimum of $100bn (£77bn) each.

Thursday’s dive in global stock markets, however, took a fair amount of shine off many on the list though, with their combined wealth dropping by a full $208bn (£160bn) by the end of the day, with an average decline of more than three per cent apiece, Bloomberg said.

Topping the list was Mark Zuckerberg, the founder of Facebook – now Meta – after shares in the social media company lost nine per cent on Thursday. That equated to a drop of $17.9bn (£13.8bn) in his wealth, though he remains in third place on the BBI overall with a still-astronomical $189bn (£145bn) net worth.

With Amazon and Tesla suffering similarly large drops, their respective owners Jeff Bezos and Elon Musk both saw double-figure billions disappear, with $15.9bn and $11bn respectively. Musk’s wealth has now dropped by $110bn in 2025, Bloomberg noted.

It wasn’t just American-listed companies which dropped in value, however, so the wealth evaporation was very much a worldwide event.

German Toby Lutke, Frenchman Bernard Arnault and Taiwanese businessman Zhang Congyuan were all listed for notable falls in wealth, with their corporations – Shopify, LVMH and Huali Industrial respectively – suffering in the stock market plunge. The biggest-affected of that trio was Arnault, losing $6bn of his fortune.

Within the 10 richest people on the planet, the person who lost the least on Thursday was Microsoft founder Bill Gates, who was down $291m on the day. Nobody else in the top 10 lost less than $2bn.

Further down the list, Carlos Slim – 18th in the BBI with an $85bn fortune – was the first person noted as increasing his net wealth on Thursday.

Mexico’s richest man benefited from his nation being exempt from additional tariffs and a rebalancing in the currency markets as the dollar weakened.

With stocks down again on Friday as investors and businesses further digest the tariffs and possible responses, further losses can be expected for the world’s most wealthy.

DOGE Job Cuts Hit Federal Workers’ Finances and Mental Health

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Art Garfunkel’s painful health journey revealed after decades of silence

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Art Garfunkel’s painful health journey revealed after decades of silence

Art Garfunkel’s painful health journey revealed after decades of silence

Art Garfunkel, the iconic voice in the folk rock duo Simon & Garfunkel, has revealed for the first time his battle with psoriasis.

After taking a break from touring and being in the public eye, 83-year-old singer, actor, and poet talked about his health, the love from his family, and his recent work with his son, Art Garfunkel Jr.

With support from his sons and his wife, Kim opened up to PEOPLE, saying, “I am ready to be seen again. Psoriasis is something I lived with quietly for many years. It was part of my life even during my most public moments, including on tours, but I rarely, if ever, spoke about it.”

He explained, “I found ways to cover it on stage, in photos and in my day-to-day life. It’s not something people would have known by looking at me, but it was always there, under the surface. I am just glad it never made its way into the music. I’m happy about that change in my life.”

The Bright Eyes crooner went on to share that other than being difficult, his “treatment journey was long,” and he tried numerous approaches “over the course of decades,” including “different creams, remedies, even treatments involving UV light and tar.”

“I remember being completely covered in tar; what a mess. Some gave me temporary relief, but nothing really lasted — it was a frustrating cycle. The itching always came right back, and so did the scales. It was so uncomfortable,” Kim mentioned.

Despite going through hardships, the Carnal Knowledge star admitted that he was “lucky to have such a great dermatologist,” who eventually told him about ILUMYA, a medicine he “hadn’t tried” but after the first few doses, his “skin began to clear up, and for the first time in a long time, I didn’t feel the need to hide. Life started to change for me.”

Moving forward, the Grammy winner talked about having to cancel tour dates because of his health, quipping, “Performing is such a big part of who I am, so having to step back because of my psoriasis was difficult.”

“I could be in front of thousands of people but still have to cover up. It can affect your confidence, your comfort in your own skin, and it isolates you in ways people don’t always see,” he noted.

Before concluding, it is significant to mention that Kim’s recent work was a collaboration with his 34-year-old son, singer Art, for the album Father and Son, which was released in November 2024.



Calgary Sun Letters to the Editor for Friday, April 4, 2025

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Carney’s no improvement

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One positive thing, which came out of the Chiang fiasco, is it basically exposed as to what kind of a leader Mark Carney would be while leading this nation for the next four years. From snowboard instructor to bean-counter, can the incumbent federal Liberals slide any further down the septic pipe? Canadians need a reliable government in Ottawa, who will get back to basics and start rebuilding this once-great nation on April 28.

Donald K. Munroe

(We need big changes in Ottawa, that’s for sure.)

Divide and conquer

With all the talk of separation I propose that a split if made must include Manitoba, Saskatchewan, Alberta and British Columbia. With the four western provinces working together and the resources we have we could be the richest country in the world. After the split we would be known as Eastern Canada and Western Canada each with their own government. You would then have a very poor and weak Liberal government and a very powerful Conservative government. Sucks voting in the liberals for another term that has no use for Western Canada except for our subsidy payments. 

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  1. Gaumont

(That’s quite the proposal. Very unlikely though.)

Premier Smith wins!

Canada being exempt from new reciprocal tariffs announced by Donald Trump this week is a “victory” for Alberta Premier Danielle Smith as the only Canadian politician practicing calm diplomacy with America, rather the confrontational approach of Ontario’s Doug Ford or Canada’s paper tiger approach of revenge tariffs. Does anyone think for a moment that Donald Trump was afraid of Doug Ford or Mark Carney? 

Take a bow Premier Smith! When all the other politicians and pundits in Canada were wrong, you were right! Alberta is safer tonight because of you!

Chris Robertson

(We are certainly better off.)

President played

Let’s be honest, Trump got played by Putin. Trump’s disrespect for Zelenskyy and Ukraine emboldened Putin. The Russian leader won’t end the war in Ukraine until he’s achieved his goals there and completely destroyed it. Once that has happened, Putin won’t stop there. He’ll demand greater accommodations from Europe, he’ll weaken NATO and he’ll likely set his sites on the Baltic states. This is all thanks to Trump and his idiotic foreign policies. And the U.S. will likely implode from within because of his even more ridiculous domestic policies.

Maria Weiss

(A lot of Trump’s policies don’t seem very well thought out, do they?)

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Go Digit IPO Put in ‘Abeyance’ by Sebi; All You Need to Know

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Capital markets regulator Sebi has kept in “abeyance” the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd.

Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17.

Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17.

New Delhi: Capital markets regulator Sebi has kept in “abeyance” the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd. However, the Securities and Exchange Board of India (Sebi) did not clarify further.

Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17. Cricketer Virat Kohli and his wife Anushka Sharma are among the investors in the firm.

Going by the draft papers, the company’s proposed initial public offering (IPO) comprised fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale of 10.94 crore equity shares by a promoter and existing shareholders. Proceeds from the fresh issuance were to be utilised for the augmentation of the company’s capital base and maintenance of solvency levels and general corporate purposes.

Without disclosing the reason, Sebi said “issuance of observations (has been) kept in abeyance” with regard to the IPO of Go Digit, an update on the regulator’s website showed on Monday. The information was updated on September 16. The issuance of observations by Sebi implies its go-ahead for an IPO and the regulator usually gives its observations on IPO papers in 30 days.

Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products. It is one of the first non-life insurers in India to be fully operated on the cloud and has developed application programming interface (API) integrations with several channel partners.

The Bengaluru-based company has a track record of delivering growth with Gross Written Premium (GWP) at Rs 5,268 crore, Rs 3,243 crore and Rs 2,252 crore in financial years 2022, 2021, and 2020, with a compound annual growth rate (CAGR) of 53 per cent from fiscal 2020 to fiscal 2022. ICICI Securities, Morgan Stanley India Company, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities are the book running lead managers to the issue.

Last month, private sector lender HDFC Bank announced that it will pick up 9.94 per cent stake in Go Digit’s Life Insurance Venture.

Read all the Latest Business News and Breaking News here

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

Gold Prices Fall Despite Recession Fears; Will It Decline 38%? Factors Behind Fall On April 4

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Gold, silver prices see a major decline on Friday amid profit-booking and following reports that precious metals were excluded from US President Donald Trump’s “reciprocal” tariffs.

On the MCX, gold prices on Friday declined by 0.9 per cent below the Rs 90,000-mark to the day's low of Rs 89,260 per 10 grams during the day, before recovering to Rs 89,885 for the June 2025 contracts.

On the MCX, gold prices on Friday declined by 0.9 per cent below the Rs 90,000-mark to the day’s low of Rs 89,260 per 10 grams during the day, before recovering to Rs 89,885 for the June 2025 contracts.

Gold and silver saw a sharp decline on Friday. Gold, which is considered a safe-haven asset during political and economic uncertainties, declined nearly 1 per cent despite US recession fears and a massive sell-off in equities across the world, including India, following Donald Trump’s ‘reciprocal tariffs’ announcement. Meanwhile, silver, which has industrial use as well, witnessed a bigger decline, falling by as much as 8 per cent after the tariff announcement in the global markets.

On the MCX, gold prices on Friday declined by 0.9 per cent below the Rs 90,000-mark to the day’s low of Rs 89,260 per 10 grams during the day, before recovering to Rs 89,885 for the June 2025 contracts. Silver saw a bigger decline with the prices falling 2.67 per cent at the day’s low on MCX. However, it recovered a bit to Rs 92,551 as of 4:15 pm on Friday.

In the international market, New York-based COMEX June gold closed 1.4% lower on Thursday, reaching a one-week low of $3,073.5 per ounce. Silver, however, fell as much as eight per cent.

The stock markets across the globe also declined massively with the US equities seeing biggest daily fall in five years in percentage terms. In India, the BSE Sensex tumbled 930.67 points to close at 75,364.69, while the NSE Nifty declined 345.65 points to 22,904.45 as the Trump Tariffs stoked recession fears in the US.

Why Did Gold, Silver Prices Fall Despite US Recession Fears?

According to analysts, gold prices saw a major decline on Friday following reports that precious metals were excluded from Trump’s “reciprocal” tariffs. They also said the move comes as the markets had already priced in the impact of reciprocal trade tariffs over the past few months, making profit-taking a natural outcome.

Kaynat Chainwala, assistant vice-president (commodity research) of Kotak Securities, said, “COMEX June gold closed 1.4% lower yesterday, reaching a one-week low of $3,073.5 per ounce, following reports that precious metals were excluded from former President Trump’s “reciprocal” tariffs. Gold inventories on COMEX have surged in recent months amid concerns that tariffs could disrupt shipments.”

However, fears of retaliation from key trading partners and the potential for a full-blown trade war boosted safe-haven demand, limiting losses, he added.

Jateen Trivedi, vice-president (research analyst- commodity and currency) of LKP Securities, said, “Gold witnessed profit booking with prices down by Rs 650 at Rs 89,450 on the MCX, following the official announcement of tariff pricing. The move comes as the markets had already priced in the impact of reciprocal trade tariffs over the past few months, making profit-taking a natural outcome.”

Will Gold Decline 38%?

John Mills, a market strategist at US-based financial services firm Morningstar, projected that gold could fall to $1,820 per ounce, a stark contrast to its current price of approximately $3,080 per ounce. This would equate to a nearly 38% reduction, a scenario that could dramatically alter the gold market.

However, LKP’s Trivedi said there is the downside level depends upon the geopolitical situation.

“With the tariff premium now largely discounted, further downside pressure may emerge as geopolitical tensions — especially from Russia-Ukraine and the Middle East — remain relatively subdued. This easing of global uncertainty could lead to a softening in safe-haven demand,” said Trivedi.

Kotak Securities’ Chainwala said there is a strong support in gold prices due to rate cut expectations, central bank purchases, and strong ETF demand.

“Additionally, gold remains supported by expectations of rate cuts, central bank purchases, and strong demand from gold-backed ETFs. Currently, gold is trading above $3,120 and may stay supported as markets remain on edge ahead of key US jobs report and speeches by Fed Chair Powell and other FOMC officials,” Chainwala said.

Technical View

On the technical front, Comex gold faces strong resistance at the $3,120–$3,130 zone, while immediate support is seen around $3,050–$3,055. A break below this could accelerate selling pressure in the near term, Trivedi said.

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