Gold slips marginally on subdued demand

New Delhi : Gold prices eased by Rs5 to Rs18,140 per ten grams in the bullion market on Monday on sluggish demand amid a steady overseas trend, reports PTI.

However, silver rose by Rs100 to Rs29,000 per kg on fresh buying by industrial units and coins makers for the festival demand.

Marketmen said subdued demand for gold at existing higher levels led to a decline in the metal prices, while silver prices strengthened on brisk buying by industrial units and coins makers for the festive season.

The gold in overseas markets, which normally sets the price trend on the domestic front here, remained steady at $1,181.40 an ounce.

Gold of 99.9% and 99.5% purity traded lower by Rs5 each to Rs18,140 and Rs18,040 per ten grams, respectively, while sovereigns remained flat at Rs14,500 per piece of eight grams in limited deals.

Silver-ready rose by Rs100 to Rs29,000 per kg and weekly-based delivery by Rs135 to Rs28,795 per kg.

Silver coins also gained Rs100 to Rs34,200 for buying and Rs34,300 for selling of 100 pieces on festive demand.

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About 79,000 patent applications lying with government

New Delhi : About 79,000 applications are pending before the Indian government for grant of patents, with mechanical engineering and chemicals segment accounting for nearly a third of the requests, Parliament was informed on Monday, reports PTI.

The government has created 200 posts for examining the applications to expedite the work on patent requests.

"As on 30th June, about 78,792 patent applications are pending with the Indian Patent Office," Commerce and Industry Minister Anand Sharma said in a written reply to Lok Sabha.

The requests are pending mainly due to the considerable increase in the number of patent applications filed with the office after 2003-04, he said.

"In order to dispose of the pending requests for examination, the government has created 200 new posts of Examiners of patents and designs...," Mr Sharma said.

In the mechanical engineering segment 14,134 patent applications were pending, followed by chemicals segment (11,633), electronics (8,192), communication (6,507) and pharmaceuticals (6,322).

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Maharashtra MPs meet PM for international airport at Navi Mumbai

New Delhi : A group of member of parliaments (MPs) from Maharashtra on Monday met Prime Minister Manmohan Singh to seek his intervention in the developing of an airport at Navi Mumbai which has been stalled due to environmental concerns, reports PTI.

"Eight MPs from Mumbai and adjoining areas met the Prime Minister to seek his intervention on the Navi Mumbai airport project. His response was favourable," Congress MP Priya Dutt, who was part of the delegation, told reporters.

The project was earlier cleared by the Union Cabinet but ran into rough weather due to objections over a move to remove mangrove forests in the area.
"The Navi Mumbai airport is needed to decongest traffic at the Mumbai airport," she said.

Navi Mumbai MP Sanjiv Naik (NCP) led the delegation.
Ms Dutt claimed the Prime Minister has promised to get back to them after looking into the details of the issue and the problems afflicting the project.

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