ASX finishes flat after turbulent week


The Australian share market has finished flat, fading in the afternoon after being up as much as 1.2 per cent after government data showed retail sales rebounded in May.

 The benchmark S&P/ASX200 index finished up 6.1 points, or 0.1 per cent, to 5,942.6 points, while the All Ordinaries index gained 15 points, or 0.25 per cent, at 6,066.9.

The Australian dollar was buying 68.59 US cents, down from 68.72 US cents at the close of trade on Thursday.

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Facing shortage of funds, Tea Board urges industry to stand on its feet


is facing a problem of getting funds from the Centre, which has been “static” for the last five years, its deputy chairman Arun Kumar Ray said on Saturday.

He urged the industry to stand on its own feet and said exporters will have to contribute towards the promotion and branding of the beverage.

Speaking at a webinar organised by Indian Chamber of Commerce, Ray said the board spends 90 per cent of the funds it receives from the government on subsidy purposes.

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“Now the board is having financial issues and hopefully, things will improve next year,” he said, adding that the statutory body under the Union Ministry of Commerce has kept replantation subsidy in abeyance for the time being.

According to him, Indian tea growers should focus more on orthodox tea manufacturing which has a good export market.

“Exports this year may be lower by 20 to 30 million kg as shipments have dropped,” he said.

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Xiaomi a ‘more Indian’ smartphone brand than any other, says India head


India’s largest smartphone seller is “more Indian” than any other smartphone brand, company’s India head Manu Kumar Jain said on Saturday amid growing chorus for boycotting in the country.

Stressing that the company’s mobile phone R&D centre and product team is in India, the India Managing Director also pointed out that it employs 50,000 people in the country.

Other reasons he cited in a tweet to substantiate his claim that is more Indian than anyone else included the assertions that most of its phones and TVs are “Made in India”, the entire leadership team is Indian and that the company pays its taxes in India.

The tweet drew mixed reactions from Twitter users. While some agreed with the reasoning of Jain, some others pointed out that the parent company continues to be Chinese.

“Sir Xaomi name itself is Chinese (sic),” said Twitter user Deepak (@deepaknrn) whose bio in the social media account simply reads “A Proud Indian.”

“Where does the Final profit go???,” asked Twitter user Siddharth Sharma (@Siddhar97465501).

Some others argued that the so-called “Made in India”

Arsenal Rocked By Late Brighton Winner, Watford Rescue Draw


Arsenal’s hopes of qualifying for the Champions League suffered a fatal blow as Neal Maupay fired Brighton to a last-gasp 2-1 win after Gunners keeper Bernd Leno was stretchered off, while Watford snatched a late 1-1 draw against Leicester on Saturday.

In the first full weekend of English top-flight matches since the coronavirus shutdown in March, Arsenal’s faint chances of finishing in the top four faded further.

Their cause wasn’t helped by the controversial injury to Leno, whose screams echoed round the empty Amex Stadium after he slid awkwardly when he came to collect the ball just inside his own penalty area.

The German seemed to twist his knee and was given oxygen during several minutes of treatment.

Leno appeared frustrated with Brighton forward Maupay, shouting and pointing a finger at him while being stretchered to the tunnel.

Maupay had been the Brighton player challenging Leno for the ball when he fell.

Already hit by injuries to Granit Xhaka and Pablo Mari in their 3-0 defeat at Manchester City on Wednesday, Leno’s departure was another blow to Gunners boss Mikel Arteta.

Nicolas Pepe put Arsenal ahead in the 68th minute with a superb strike, the Ivory Coast winger cutting in

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