Blackstone Group will manage a $2-billion-plus Asian real estate fund of Bank of America-Merrill Lynch, in a deal that will close in the third quarter, sources familiar with the situation told Reuters.
With gold prices ruling very high in India, gold scrap sales showed huge increase in jewellery shops.
In fact, jewellery shops are seeing a 10 per cent rise in scrap sales whereas their sales are at a very low level.
Is uranium turning out to be the hottest commodity-hotter than gold-in China? China has been trying to amass gold reserves to emerge as the largest yellow metal owning country in the world. But China's craze for commodity investment does not just stop by gold alone. Uranium is one commodity that the dragon country is heavily investing in these days.
Denso Corp, Japan's No.1 car parts maker, will likely review its earnings outlook around late October for a possible upgrade after a strong first quarter eased worries about the impact of the yen's strength
Palladium, which was expected to gain this year due to the high growth in auto ales in China and India, may in fact decline by 12 per cent to about $395 an ounce in the coming weeks.Palladium is hugely used in catalytic converters in cars. Palladium has been the worst-performing precious metal last quarter.
Gold edged up to near $1,200 an ounce on Friday as bargain buying helped offset selling from speculators, who had shifted some of their money to equities on hopes of an economic recovery.
Dealers saw purchases from jewelers and other physical buyers across Asia, keeping premiums for gold bars steady. The electronics sector in Japan was on the sidelines, but bargain hunters snapped up platinum.
Gold fell below $1,200 an ounce on Thursday, nearing recent six-week lows, as growing optimism over the global economy limited investor interest in perceived safe-haven assets, although consumers helped contain losses.
Gold buying has intensified on the late-June/early July sell offs and capitalising on this fall were the Asian investors, jewelry manufacturers and possibly a few central banks, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.
Jewellery exports and quality of India's gold is set to get a boost with the decision to join the Convention on Control and Marking of Articles of Precious Metals known as Vienna Convention 1972.
Gold held above $1,200 an ounce on Thursday, having recovered from six-week lows after consumers were enticed back into the market, although gains were likely to be tempered by improving optimism over the global economy.
Gold demand in India is all set to soar in the coming months as the International Monetary Fund has predicted a very high 9.5 per cent growth for the country in 2010.
Those who are skeptical about buying gold considering its high prices may have to wait forever as the yellow metal is set to cross the $1,300 per ounce mark in the second half of 2010.
Consumers, especially in India, have been waiting for gold prices to come down to make purchases. But, according to market analysts, gold prices are set to cross the $1,300 level in the coming months.
World's largest gold producer, China witnessed record surge in gold trading during the first half of this year.
According to Shanghai Gold Exchange, domestic investors' gold frenzy pushed trading volume of the yellow metal to an historic high in the first half of the year, with gold imports also surging to a record.
Gold rose to hold above $1,200 an ounce on Thursday on steady purchases from jewelers and other physical buyers after a recent drop to a six-week low, while sentiment was also lifted by gains in equities markets.
Gold edged higher on Wednesday, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.
After stock markets, bullion and commodities markets, India, is now gearing up for a newer investment asset class - currency futures. Considering the risk and uncertainty involved with volatility in foreign exchange rates, especially for the exporters, hedging in currency futures is now picking up pace among the investors.
Israel is giving tough competition to India's Surat in diamond processing. according to half-yearly figures, Israeli diamond industry is showing clear-cut signs of recovery. In this period, exports and imports of polished and rough diamonds jumped by an average of 104% over the first half of 2009.
The Department of Justice has opened a criminal investigation into whether some HSBC Holdings Plc clients may have failed to disclose offshore accounts, lawyers familiar with the probe said on Tuesday.
When Reserve Bank of India bought 200 tonnes of International Monetary Fund (IMF) gold in November last year, the bullion market received one of the biggest boosts ever and the gold prices soared in the subsequent weeks to new record heights. Reason for this was that all central banks across the globe have been increasing their gold holdings fearing the recession looming large over the world.
London and New York are not about to lose their spots as the world's leading financial centers but they are being challenged by emerging market upstarts in a potentially lucrative area: the management of funds moving between developing economies.
Africa offers among the world's best investment prospects as emerging markets grow ever more important, although its economies risk being destabilized by the slew of capital they stand to attract in coming years.
Investment flows to the world's four biggest emerging economies -- Brazil, Russia, India and China -- slowed slightly in the first half of 2010, but growth rates and the pace of dealmaking remain strong, data shows.
