Singapore Kids Grapple With the Tyranny of Tutoring
Each week we'll bring you insights into one of Asia's most dynamic economies. If you haven't yet, please sign up here.
This week, Audrey Wan reminisces about her education in Singapore and looks a the burden of private tutoring, while Gabrielle Ng examines the furor over an eyewatering bid for a medical clinic lease.
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Indian dealers offer steeper discounts as price rally dulls demand
By Rajendra Jadhav and Brijesh Patel (Reuters) - Gold discounts in India widened this week to their highest levels in more than a month, as a rally in domestic prices to near-record highs weighed on demand, while elevated rates also dampened buying across other major Asian hubs. Domestic gold prices were trading around 98,300 rupees per 10 grams on Friday, after rebounding from a low of 90,890 rupees last month and nearing the all-time high of 99,358 rupees. The spike in prices forced Indian dealers to offer discounts of up to $56 an ounce below official domestic prices, which include a 6% import duty and 3% sales tax, up from $31 last week. "Prices have gone up, and that's really hit demand. Hardly anyone was buying this week," said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. Gold demand in India typically remains subdued during the monsoon season, which began earlier than usual this year. Jewellers are not making purchases because the lean demand season has started, and they don't want to build high-cost inventory, said a Mumbai-based bullion dealer with a private bank. Meanwhile, dealers in top gold consumer China charged premiums of $10-$14 an ounce over the global benchmark spot price. Last week, bullion changed hands at par to a $15 premium. "Elevated gold prices appear to have negatively impacted Chinese demand, judging by weaker trading volume," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong, gold was sold at a premium of $0.30 to $1.30, while in Singapore gold traded between at-par prices and a $2.50 premium. "We've seen some of our clients coming to take profit and also on the wholesale side, we've seen some selling because prices are high," said Brian Lan, managing director at Singapore-based GoldSilver Central. In Japan, bullion traded anywhere between a discount of $0.5 and a $0.5 premium over spot prices.
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Andhra Pradesh, Nvidia Partner to Develop AI University and Train Engineering Students
The agreement also mentions the possibility of up to 500 AI-focused startups from Andhra Pradesh being supported in applying to Nvidia's Inception Programme, which offers access to technical resources and business networks You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Andhra Pradesh government has signed a memorandum of understanding (MoU) with US-based chipmaker Nvidia to collaborate on the development of a proposed Artificial Intelligence University in the state. The agreement also focuses on AI-related skills training, research, infrastructure, and startup support. As part of the partnership, around 10,000 engineering students across the state are expected to receive AI training over the next two years. Nvidia will assist by providing curriculum guidance and technical resources to engineering colleges. The MoU outlines plans to improve AI research capabilities in the state. Nvidia will work with the government to help set up research centres aimed at addressing technological challenges and advancing sector-specific AI solutions. Joint research efforts are also being considered. The initiative includes the development of computational infrastructure for the proposed university, with Nvidia offering input on software platforms and hardware systems. According to State IT Minister Nara Lokesh, the collaboration is intended to support the state's broader goals of technological skill-building and entrepreneurship. Nvidia's Managing Director for Asia South, Vishal Dhupar, said the effort could serve as a reference point for similar initiatives elsewhere in the country. The agreement also mentions the possibility of up to 500 AI-focused startups from Andhra Pradesh being supported in applying to Nvidia's Inception Programme, which offers access to technical resources and business networks. Participation will depend on eligibility and availability.
