World oil prices extended gains in the first day trade of this month mainly on possible US supply drop on Gulf of Mexico oil slick while Greek bailout deal also helped. Light sweet crude for June delivery was seen trading at $86.59 a barrel at 12.00 noon Singapore time while Brent crude was at $87.65 a barrel at the same time in London. Analysts said expectations that the huge oil slick in the Gulf of Mexico could lead to delays in the delivery of crude oil in the US helped the black gold.
Gold prices remained highly volatile in Asian trade Monday as bailout package for debt-laden Greece eased safe haven concerns. Gold for immediate delivery was seen trading at $ 1177.64 an ounce at 12.00 noon Singapore time while June gold futures was at $ 1178.25 an ounce at the same time.
The euro sank nearly 1 percent on Monday and stocks fell on fears that a 110 billion euro bailout of Greece will face stiff political challenges, while fresh steps by China to cool its economy added to near-term uncertainty.
China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to mop up excess cash in the economy at a time when inflation is on the rise. The People's Bank of China said it was lifting lenders' reserve requirement ratio by 50 basis points, effective May 10, its third increase of that magnitude this year.
Australia: The Australian Dollar fell on Friday's trading again on the back of weaker equity markets and talk increased that US investment bank Goldman Sachs might be the subject of a criminal prosecution by the US Justice Department in addition to the civil case recently brought by the SEC.
Finance ministers from east Asian countries on Sunday cited rising global asset prices and inflationary pressures and sovereign debt risks' possible impact on capital inflow as the key risks facing their economies.
China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to mop up excess cash in the economy at a time when inflation is on the rise.
China reaffirmed on Sunday its resistance to pressures to let the yuan CNY=CFX rise sharply, dismissing arguments that its foreign exchange policy was mainly responsible for the country's trade surplus.
Australia's government angered its booming resources sector on Sunday by unveiling a new tax on mining projects from July 2012 under a sweeping pre-election tax overhaul which will also boost pension savings for workers.
A more flexible yuan will help balance the Chinese economy, but Beijing alone must decide on when and how to adjust its currency policy, the head of the Asian Development Bank (ADB) said on Saturday.
The United States on Friday placed Russia on its list of countries with the worst records of preventing copyright theft for the 13th straight year, just days after the two nations agreed to intensify talks on Moscow's bid to join the World Trade Organization.
Motorola Inc reported a surprising quarterly profit on better-than-expected demand for its higher-margin smartphones, so far vindicating its strategy of relying on Google Inc's Android software system.
World's largest gold producer is also set to take India's centuries-old gold crown as the world's top gold consumer. After knocking South Africa out of first place as the world's largest gold producer in 2007, it now appears China will overtake India as the world's leading gold consumer when industry figures are released in mid-February.
It would be feasible for China to launch a property tax in the near term because economic growth is sufficiently strong, a senior researcher with the Ministry of Finance said in remarks published on Friday.
Developing markets were critical for consumer product makers last quarter, as strong sales growth in countries like China helped drive profits while markets such as the United States remained somewhat sluggish.
U.S. stocks rose on Thursday as investors welcomed a string of solid earnings reports, while debt-laden Greece appeared to be nearing a bailout deal, easing fears about the stability of the euro zone.
Following a spike of multi-resistant gonorrhoea cases detected in Australia, the World Health Organization has alerted of an increase in untreatable gonorrhoea in Australia.
Motorola Inc reported a surprising quarterly profit on better-than-expected demand for its higher-margin smartphones, vindicating its strategy of relying on Google Inc's Android software system.
Greece readied severe austerity measures Thursday to secure a multi-billion euro aid package needed to avoid default, providing relief to financial markets but drawing threats of a mighty battle from Greek unions.
A rise in the yuan would make Chinese exports less competitive and cut the cost of imports, providing incentives for capital and labour to be redeployed towards the domestic sectors of the economy.
Developing markets were critical for consumer product makers last quarter, as strong sales growth in countries like China helped drive profits while markets such as the United States remain somewhat sluggish.
Brilliance Auto, BMW's partner in China, has halted its car exports to Europe after its in-house designed BS4 and BS6 sedans met with a cool reception, highlighting the quality issues facing Chinese automakers eager to tap mature markets.
