Day: August 6, 2020

World’s Best-Performing Gold Stock Doesn’t Operate Any Mines

(Bloomberg) — The most successful way to be a gold producer may be to not operate any mines.

At least, that’s the business model of DRDGold Ltd., the best-performing stock on the MSCI ACWI Select Gold Miners Investable Market Index this year. The company, which specializes in recovering gold from mine dumps in and around Johannesburg, has surged 271% in 2020, also making it the biggest gainer on South Africa’s FTSE/JSE Africa all share benchmark.

“Everybody is flocking to the arms of gold,” Niel Pretorius, chief executive officer of DRDGold, said in an interview on Tuesday. “And because our company

Garib Kalyan Rojgar Abhiyaan provides 17 crore man-days work to migrants; pays this much in 6 weeks

The scheme has generated employment opportunities to migrant workers in 116 districts of six states viz Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh.

The government has so far generated 17 crore man-days worth of employment under Prime Minister Narendra Modi’s Garib Kalyan Rojgar Abhiyaan (GKRA), which is aimed at providing employment and livelihood opportunities to migrant workers. The scheme has generated employment opportunities to migrant workers in 116 districts of six states viz Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh, The Ministry of Rural Development said in a statement on Thursday. “By the sixth week

RBI monetary policy meet: Central bank extends MSME debt restructuring till March 31 next year

The Cabinet had earlier approved the distressed assets fund of Rs 4,000 crore and Fund of Funds with a corpus of Rs 10,000 crore to support MSMEs. Image: Bloomberg

Credit and Finance for MSMEs: The Reserve Bank of India (RBI) on Thursday extended the restructuring of MSME debt until March 31, 2021, “provided the borrower’s account was classified as standard with the lender as on March 1, 2020,” according to the statement by the central bank on developmental and regulatory policies to boost liquidity support for financial markets. “Recognising the need for continued support to MSMEs’ meaningful restructuring,