Chinese annual inflation pushed up to an 18-month high in April and property prices rose at a record clip, showing that the government still has its work cut out to keep the world's third-largest economy from boiling over.
At a time when China is tightening its realty industry and which in turn is impacting the demand for steel, Gulf countries have decided to abolish the 5% steel import duty soon to ease supply strain that has been mostly felt in Saudi Arabia. Finance ministers from the six-nation Gulf Cooperation Council (GCC) examined the proposed measure at a meeting. There is consensus among GCC countries about this proposal.
A massive relief rally in financial markets on news of a $1 trillion deal to resolve Europe's debt crisis fizzled on Tuesday on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
A massive relief rally in financial markets on news of a $1 trillion deal to resolve Europe's debt crisis fizzled on Tuesday on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
A massive relief rally in financial markets on news of a $1 trillion deal to resolve Europe's debt crisis fizzled on Tuesday on nagging doubts about how Greece and other debt-laden euro zone countries will reduce their budget deficits.
SAIC Motor Corp, China's biggest automaker, sold 33.7 percent more vehicles in April than a year earlier, as policy incentives continue to bolster automobile demand in the world's largest auto market.
Car sales in China and India, the world's two fastest growing major markets showed solid growth in April as government incentives and strong economic expansion continued to pull buyers into showrooms.
With the International Monetary Fund (IMF) and European Union chipping in to rescue Greece from the financial mess by announcing schemes worth billions of dollars, the biggest beneficiary is metal market.
The United Nations' Food and Agriculture Organization (FAO) has forecasted 4% increase in the global rice output this year with the expected production of 643 million tons of rice in Asian region.
A $1 trillion global emergency package to stabilize the euro unleashed a spectacular rally in European stocks and bonds on Monday but analysts said EU leaders had only bought time to tackle deep-seated fiscal problems.
Till recently, Victoria was just another state in Australia. Geographically the smallest mainland state, Victoria is all set to witness the second gold rush in the coming days after the discovery of gold for the first time in 1851 at Ballarat and Warrandyte transformed it into a leading industrial and commercial centre.
Who says gold is the safe haven for investors now? It seems, if you take into consideration the present scenario in the global markets, gold is the most unsafe investment now. As is the tradition, gold thrives whenever there is a crisis or tragedy. This time around, it was Greece financial crisis, Spain and Portugal dilemma and the Iceland volcano mess and the gold ETFs fraud unraveled by the US commodity exchange regulator. Even as analysts made a big fuss about the gold's safe haven importance...
China returned to familiar territory by posting a trade surplus in April, but exports only narrowly topped imports, providing limited comfort for policymakers fearful of another round of global economic turmoil. China recorded a $1.7 billion trade surplus last month, defying expectations for a second straight deficit after March's $7.2 billion shortfall.
The impact of a proposed tax on mining firms in Australia hit home on Monday as Peabody Energy cut its takeover bid for Macarthur Coal and Xstrata suspended copper exploration work in Queensland, both citing the tax.
China's General Administration of Customs on Friday said export value of textiles and garments in China fell 9.54% year on year or 12.9% month on month to $11 billion in March. In its latest report, the GAC said the export value of textile products was $5.05 billion in March, up 6.7% year on year and 10.6% month on month.
It seems gold is heading for a perfect future as almost all incidents unraveling across the world in April and May months are helping the yellow metal gain. If you take into consideration the recent developments like the Greece debt crisis, Spain and Portugal economic woes, the Euro situation, China's decision to control the realty sector and the May 7 verdict by India's Supreme Court in the Ambani gas row case, all of this have contributed to the further push of gold in global and India markets...
China stands little chance of hitting the government's target of keeping inflation below 3 percent this year, a senior government economist said on Saturday.
Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved, the chair of a meeting of sovereign wealth funds said.
World over, copper and some other base metals have been witnessing a downfall season now following the European financial mess and China's decision to crack down on realty sector. Copper's downward journey was also witnessed in India this week with copper futures traded almost flat as worries about growing fiscal crisis in Europe hit global markets. In copper 316 remains a crucial resistance, prices might drift towards 312-310 rupees.
And you thought India is a country which loves to buy only gold. Till the beginning of the 21st century, the image of India was that almost all Indians want to buy gold as far as precious metals are concerned. But the reforms initiated by Indian Prime Minister Manmohan Singh has changed the dreams of the younger generation with many of them now eyeing other precious metals like platinum. Even diamonds have also become a favourite for young women and men.
Governments around the world sought on Friday to calm financial markets hit by fears that Greece's debt crisis could cause turmoil in other European economies.
Mazda Motor Corp and its China venture partners are awaiting government approval for a restructuring, the Japanese automaker said on Friday after talk resurfaced about a possible termination of the three-way tie.
