Latest news with #AKGSMA
New Indian Express
08-05-2025
- Business
- New Indian Express
Albiceleste's Kerala visit set to run aground over funding
KOCHI: The much-anticipated visit of the Argentina football team, including star player Lionel Messi, to Kerala appears uncertain over failure to mobilise funds for the team's appearance fee. Reports now suggest that the Latin American football giant will instead play friendly matches in China, Angola, and Qatar in October and November this year, casting doubts on Kerala's earlier announcement. The proposal, first revealed last November by state Minister for Sports V Abdurahiman, aimed to bring the reigning world champions to play two international friendlies in the state, one of which was to be held in Kochi. However, it appears that delays in arranging finances have affected the project. Initially, the sponsorship was given to a faction of the All Kerala Gold and Silver Merchants Association (AKGSMA), which planned to raise the required funds -- around Rs 100 crore -- through sales via their 'Oloppo' app. Of this, Rs 70 crore was reported to be the appearance fee for the team alone. But when this failed to take off, the state government reportedly shifted sponsorship to the Reporter Broadcasting Company Pvt Ltd, which owns the Reporter TV news channel. Sources indicate that the deadline to confirm the agreement has passed without meeting the necessary financial commitments. This has likely led to the team exploring other venues for their international fixtures. Further speculation arose after Argentine sports journalist Gastón Edul posted on social media that the national team would be playing two matches in China and one each in Angola and Qatar. Though he mentioned that the schedule was not fully confirmed, the update suggests that Argentina's October window is likely occupied. Back in March, HSBC India, which had partnered with the Argentina football team to promote the sport in India and Singapore, had announced, through an official statement, that the team would travel to India in October 2025. This announcement reinforced public expectations in Kerala, following earlier claims by the state government that the necessary permissions from the Reserve Bank of India and the Union Sports Ministry had been secured. Despite repeated attempts, HSBC India has not responded to queries about the team's schedule. Minister Abdurahiman, when asked about the current status, declined to comment and said the sponsors would provide updates. 'The sponsors will respond to the queries,' he told TNIE recently. The official sponsors also remain unreachable.
New Indian Express
30-04-2025
- Business
- New Indian Express
Gold shines brighter than ever in Kerala on Akshaya Tritiya despite soaring prices
KOCHI: Kerala once again reaffirmed its enduring love affair with gold this Akshaya Tritiya, as families across the state flocked to jewellery showrooms, undeterred by record-high prices. Despite gold reaching ₹8,980 per gram — a 34% jump from last year's ₹6,700 — caution was nowhere to be seen. Instead, Kerala chose celebration. From as early as 8 a.m., jewellery stores opened to large crowds. Traditional rituals marked the occasion, with oil lamps lit and vibrant floral decorations setting the tone. Across more than 12,000 jewellery outlets statewide, the rush to buy gold — even in the smallest denominations — was steady throughout the day. 'It's incredible to witness such robust demand even at this price point. Over five lakh families made gold purchases today,' said Adv. S Abdul Nazer, general secretary of the All Kerala Gold and Silver Merchants Association (AKGSMA). 'This isn't just about jewellery — in Kerala, gold represents tradition, security, and sentiment.' Lightweight ornaments, coins, 24-carat bars, diamonds, platinum, and silver jewellery all found takers. Many stores stocked items as light as 100 milligrams, enabling more people to participate in the auspicious purchase, regardless of budget. 'Kerala's deep-rooted cultural and emotional bond with gold is unmatched,' said K Surendran, president of AKGSMA. 'Despite the sharp rise in prices, people see gold as a safe and symbolic investment — something that continues to hold and grow in value.' With total gold sales this year exceeding Rs 1,500 crore, Kerala once again proved that its golden spirit remains timeless — regardless of market trends. On Akshaya Tritiya, it's not just gold that shines here — it's tradition.
