- 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.
- India is under a mass panic over the ongoing ethnic violence in its northeastern state of Assam, triggered when four men from the Bodo community were killed in Kokrajhar district July 20 allegedly by the Muslims who were seeking revenge for the attack on two student leaders from the community.
A Motorized Unicycle? The RYNO Motors Microcycle May Be Future Of Urban Transit [HOLD, see question]In a world where personal and urban mobility is dominated by the bland dorkiness of the Segway, a 13 year old girl and her inventor father are hoping the RYNO Motors microcycle, a motorized unicycle, will revolutionize how mall cops, Arab sheiks and Hollywood's flush rising stars travel.
- The trial in the whistleblower case involving Infosys and one of its employees in the U.S. has been postponed from August 20 to September 17.
- US Gold futures finished pit trade higher Thursday. The precious Yellow metal traded near steady in early trading and then advanced when the USD index came under selling pressure following new weak US economic data. Higher Crude Oil futures prices Thursday supported precious metals. Dec Gold futures are now trading comfortably above the psych mark of $1,600.00. Near-term trading is within a well-defined range on the daily chart.
- R.K. Singh, India’s Home Secretary, tried to calm the situation by blaming the unrest on "rumor- mongering" and rejected the notion that migrants were at risk in Bangalore, India’s affluent technological hub.
- Commodity prices traded narrowly in European session as investors got few hints regarding central banks' monetary stance in coming months. Gold continued to fluctuate around 1600. In the near-term, we do not see much breakthrough without fresh news of further easing from the Fed and the ECB. Fundamentals are indeed putting downward pressures on the yellow metal as demand slipped amid worries over global economic slowdown and sovereign debt problems in the Eurozone. Platinum continued to conso...
- Ethnic violence in India's northeastern state of Assam, which has left at least 80 dead and 200,000 displaced so far, has continued to spread panic across India, including southern Indian cities like Mumbai, Bangalore and Hyderabad where people of Northeast origin feared a backlash.
- India's leading carmaker Maruti Suzuki will restart production at its Manesar plant August 21, almost a month after the plant was shut down following violence by workers.
- The upcoming Non-Aligned Movement (NAM) summit in Tehran, quite ironically, has become a stage to gauge the member nations' stand on certain international issues, though the world's largest single political coalition doesn't promise support to any major power bloc.
- There comes a time in the life cycle of most commodities when China, home to 1.3 billion people and counting, takes over as the world's biggest consumer. For gold, that moment is drawing near.
- Two of ancient India’s most important and grandest Sanskrit epics, The Mahabharata and The Ramayana, vividly describe giant, magnificent space vessels which took fantastic voyages to distant stars and planets.
- The demand for gold fell to its lowest level in two years in the second quarter of 2012, as the price rise along with the economic slowdown has deterred major consumers India and China from buying the yellow metal, the World Gold Council said on Thursday.
- Gold demand declined 7.1% in Q-2, Jewelry use slowed, Central Banks buying. Gold demand fell 7.1% in Q-2 as investment slid and Asian jewelry purchases declined amid higher local prices and concern about economic growth, the World Gold Council said. Global demand dropped to 990 metric tons in the Quarter compared with 1,065.8 tons a year earlier, as investment fell 23% and jewelry fell 15%, the London-based industry group said Thursday in a report.
- Heavily armed suspected Islamist militants Thursday attacked one of Pakistan's largest air bases, resulting in an intense firefight for several hours that left seven gunmen and two security personnel dead.
- Expect a popular backlash if the government raises diesel prices to halt the subsidy drain on its finances - not only from the millions of poor who need cheap fuel but from increasing numbers of the well-off and businesses who don't.
India's Independence Day: Manmohan Singh Says Lack Of Political Consensus Is Reason For Stunted Economic GrowthIndia's Prime Minister Manmohan Singh Wednesday said that the country was unable to create an environment for rapid economic growth due to lack of political consensus and promised to work hard to shield the country from the effects of global economic slowdown.
- India's leading carmaker Maruti Suzuki will restart production at its Manesar plant early next week, Reuters reported quoting the Nikkei business daily.