- Pakistani authorities feared that militants would use mobile service to coordinate attacks or detonate a remote-controlled bomb.
- One of the top stories in the financial markets in 2012 has to be the stagnation in the price of gold at around $1600 an ounce, which is down approximately 17% from its peak at $1920.30. Those bullish on the yellow metal have been disappointed in gold's performance while those bearish on the shiny metal have reveled in its stagnation, saying that gold's status as a safe haven is over.
- Gold prices continued to decline this week, dragging even lower due to unusually weak demand from China and India - the two largest gold consumers - that has extended for several months.
- With an estimated 650,000 homeless people in the United States and around 380,000 in Britain, experts said high levels of infection would not only cause yet more poverty and distress for those without homes, but could also become a wider problem.
- Beni Prasad Verma, Indian Minister for Steel, remarked Monday that inflation was good for the country as it would benefit the farmers. His pithy observation has given the opposition parties more meat to attack the government.
- India will present Pakistan with the proof of the involvement of Pakistani-based groups in fueling communal sentiments in India using social media and cellphone networks.
- According to thee latest report from the World Gold Council, demand for Gold fell to 999 metric tons in Q-2 of Y 2012, down more than -7% from the same period last year and -10% from Q-1. During Q-2, Gold price moved largest sideways within the range of 1500 and 1700. The lack of direction in price sent mixed signals to investment, leading to mildly net outflow of ETF and similar investment during the period. Geographically, China and India are still the largest consumer of the metal, accounting...
Miss World 2012 Winner: 5 Facts About Yu Wenxia, China?s Second Champion In The International PageantThe Miss World 2012 title was awarded to Yu Wenxia on August 18, marking the second time that Miss China had been crowned the honor. The last time China won the Miss World competition was in 2007 when Zhang Zilin took the pageant.
- For the past week, bad economic data released in major economies surprisingly sent financial markets higher. While such reaction appeared peculiar, this was driven by market expectations of further stimulus from central banks. Investors largely believed that disappointing economic data would add pressure to policymakers so that they would feel the urgency of adding (unconventional) monetary easing measures.
- Myanmar government has set up a 27-member commission to probe the recent sectarian violence that killed dozens and displaced tens of thousands in the western state of Rakhine along the Bangladesh border, state media reported.
- Finance minister urged state-run banks to increase lending for consumer durables on Saturday, saying this would help boost the manufacturing sector which has been caught up in the slowdown of the economy.
- Asian stocks ended mixed last week as market players continued to wait for policy makers to come up with bold stimulus measures to boost the weakening global economy.
Amtrak CEO Boardman Begs Congress For Billions In Funding But The Private Sector May Have To Right The RailroadFrance, Germany, Spain, China and Japan, among other nations, have moved by leaps and bounds ahead of the U.S. in cutting-edge rail transportation (and in rail line profitability), while Amtrak struggles to survive on budgetary scraps from Congress. Many rail experts believe that only investments from the private sector and sovereign wealth funds can save Amtrak.
Panic-Stricken Northeasterners Continue To Flee Indian Cities; Three Arrested In Bangalore For AttacksThe rumor-fueled exodus of the people of North-East India from the South Indian states continues unabated for the fourth day, as assurances of safety by the central and state governments fail to assuage the fear of impending attacks among the people.
- Advisers to the prime minister issued a stern warning to the government on Friday on the need to rein in the country's fiscal and current account deficits to avoid the risk of a credit ratings downgrade to junk status.
- The Comptroller and Auditor General (CAG) accused the government on Friday of allocating coal blocks, power projects and land for Delhi's flagship airport at a fraction of market prices, potentially costing the exchequer tens of billions of dollars in lost revenues.
- With the deepening of India's economic troubles, investors expect that Finance Minister P Chidambaram will take bold measures to boost the market confidence and rejuvenate growth.
- India bans mass texting service to contain the spread of false rumors regarding potential attacks based on ethnic conflicts, hoping to stanch an exodus from Bangalore and calm widespread panic.